20 Gates is a Delaware limited liability company which commenced significant operations in September 2010. 20 Gates is owned 100% by 20 Gates Holding LLC, which is in turn owned by the managing members who are all actively involved in the day-to-day operations of the Firm. The following person owns more than 50% of the membership interests of 20 Gates Holding LLC: Hans Bald, President and CEO. 20 Gates offers fee-based advisory and/or sub-advisory services typically to (i) large, sophisticated financial institutions, (ii) asset managers or institutional investors, (iii) proprietary investment vehicles, and (iv) asset-backed commercial paper ("ABCP") conduits ("ABCP Conduit") (collectively, the “Clients”). The Firm’s investment advice provided to our Clients and prospective clients will generally focus on fixed income markets across a variety of strategies, sectors and investment duration. In particular, the Firm specializes in asset based lending and securitization (e.g., asset-backed, mortgage backed, commercial mortgage backed securities) arrangements, and to a lesser extent in corporate bonds (both investment grade and lower rated), bank and other loans and certain shorter duration investments (collectively, “Financial Assets”). In addition, the Firm specializes in funding such Financial Assets in the ABCP market via the use of ABCP Conduits. Pursuant to our role as an investment adviser, we assist certain of our Clients with the assessment of new transactions and amendments to existing transactions which may include: analysis of the assets and the structure of the transaction, and due diligence on asset based lending facilities and on the seller in the transaction. Pursuant to our role in providing administrative and funding services, we assist certain of our Clients in conducting the day-to-day operations of sponsored ABCP Conduits, which may include the issuance of ABCP and ongoing surveillance of both Financial Assets and liabilities. An ABCP Conduit issues ABCP (typically with maturities of less than 270 days) to fund purchases of Financial Assets from various originating sellers. Repayment of interest and principal at maturity on the ABCP will be made from receipt of cash flow from the underlying Financial Assets, from the proceeds of newly issued ABCP, or from full support backstop facilities provided by one or more rated financial institutions. Each Financial Asset funded in an ABCP Conduit is typically structured to be deemed an implied investment grade rating through various forms

of asset specific credit enhancement and other protective features. In addition, for each Financial Asset funded in an ABCP Conduit, such asset is either fully supported by a backstop liquidity or other support facility provided by a rated financial institution, or such asset is issued by a rated financial institution and funded with maturity matched ABCP. Currently, 20 Gates sponsors an affiliated ABCP Conduit that provides secured financing typically to large financial institutions or other sellers. As of March 1, 2024, 20 Gates advised Clients on approximately US$5.447 billion in regulatory assets under management. Of this amount, approximately $4.148 billion is discretionary while the remaining $1.298 billion is non-discretionary, including unfunded commitments. The following is a general description of the Firm’s various advisory business and services offered to Clients and upon which we may be engaged by our Clients on either a discretionary or non-discretionary basis: Funding Solutions: The Firm designs, implements and runs one or more special purpose investment vehicles which acquire portfolios of Financial Assets. At least one of these investment vehicles is under common control with 20 Gates. March 29, 2024 5 Advisory Services: 20 Gates provides investment management services to institutional Clients on a discretionary and non-discretionary basis. The Firm also provides a full range of advisory, structuring, management and administrative services for both proprietary and third party programs, including ABCP Conduits, and operates an ABCP Conduit under common control with the Firm. We customize our discretionary advisory services to the particular needs and objectives of each Client. Asset-Liability Management Services: We provide advice on funding strategies, manage liability issuance and maturity profile, complete cash management and bank reconciliations with respective Client’s custodians, and other customized reporting. Portfolio and Financial Asset Level Services: The Firm conducts asset investigations and compliance monitoring, seller-servicer diligence, cash flow modelling and stress testing, documentation review, structuring advice, ratings advisory, and private credit assessments. In its normal course of business for both its non-discretionary and discretionary Clients, 20 Gates will evaluate and negotiate potential transactions pursuant to investment guidelines and credit policies established by such Clients in conjunction with engaging 20 Gates as an adviser.