25 Capital Partners, LLC (“25 Capital”) was formed in April 2011. We specialize in valuing, acquiring and managing performing, re-performing and non-performing residential and commercial mortgage loans, other credit instruments, real estate and related assets. Throughout our history we have been affiliated with the Tavistock Group of companies and its affiliates. Tavistock is an international private investment organization founded by Mr. Joseph C. Lewis. In September 2012, RoundPoint Financial Group, Inc. sold all ownership interests in 25 Capital’s then-parent company, 25 Capital Holdings, LLC, to 25 Capital’s newly-created parent company, 25 Capital Holdings, Inc. 25 Capital Holdings, Inc. is owned wholly by Sadler Holdings, Inc. Sadler Holdings, Inc.’s shares are owned by GTC Nominee Limited as nominee for the Sadler Trust, an irrevocable trust. The Sadler Trust’s trustee is Autumn Bay Ltd., and the trust’s discretionary beneficiaries are Mr. Joseph C. Lewis, Ms. Vivienne C. Lewis and Ms. Lewis’ lineal descendants. 25 Capital provides investment advisory services to separately managed accounts (“Separately Managed Accounts”) and private investment funds (“Private Funds,” and, together with Separately Managed Accounts, “Investment Vehicles”) that we seek to form with one or more investors in response to periodic opportunities to purchase mortgage loans, other credit instruments, real estate and related assets. We form Investment Vehicles for: investors that are unaffiliated with us; our affiliates, our employees and our affiliates’ employees; and combinations of the first two categories. Unless noted otherwise, all information in this brochure relates to Investment Vehicles with at least one investor that is not affiliated with us, and does not relate to Investment Vehicles that we form for affiliated investors. 25 Capital Ventures (“Ventures”) was formed in August 2012 as a joint venture between: (a) 25 Capital; (b) Atlantic Asset Management L.L.C., a Delaware limited liability company (“Atlantic”), an investment adviser registered with the Securities and Exchange Commission (“SEC”) and otherwise unconnected to 25 Capital; and (c) 25 Capital ACV, LLC (“ACV”), a company established to receive 25 Capital’s portion of the carried interest distributions (see Performance-Based Compensation Fees and Side-by-Side Management section below) from Fund I (as defined in the next paragraph). 25 Capital and its affiliates own and control ACV. 25 Capital is the majority owner and manager of Ventures, and it controls Ventures’ business, operations and all investment decisions made on behalf of Fund I. In March 2015, Hughes Capital Management, LLC, a Virginia limited liability company (“Hughes”), a company unrelated to Atlantic and 25 Capital, purchased Atlantic, merged it with Hughes, and named the resulting company Atlantic

Asset Management, LLC, a Virginia limited liability company (“New Atlantic”). However, New Atlantic did not purchase any of Atlantic’s rights to receive any carried interest distributions from Ventures, which Atlantic transferred to a new entity, AAM Partners Holdings, LLC (“AAM Holdings”), owned by certain former employees of Atlantic. AAM Holdings was admitted to Ventures as a member at that time. 25 Capital purchased all of New Atlantic’s interests in Ventures effective December 31, 2015, leaving 25 Capital, ACV and AAM Holdings as Ventures’ members. From December 31, 2015, neither Atlantic nor New Atlantic has any right to receive any portion of Ventures’ management fees. Ventures is the investment manager for one Private Fund focused primarily on managing U.S. residential mortgages and related assets (“Fund I”). Fund I has been closed to new investors since December 2013 and is Ventures’ only client. Typically each Investment Vehicle includes a special purpose general partner, managing member or similar entity controlled directly or indirectly by 25 Capital (each a “General Partner”). Potential investors should consult the applicable Governing Documents (as defined below) for more information. Investments in the Investment Vehicles are not registered under the Securities Act of 1933, as amended (the “Securities Act”), and the Investment Vehicles are not registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”). Accordingly, interests in the Investment Vehicles are offered and sold exclusively to investors satisfying the applicable eligibility and suitability requirements, either in private transactions within the United States or in offshore transactions. Before accepting an investment in an Investment Vehicle, 25 Capital will provide each eligible potential investor with a copy of the following documents for the Investment Vehicle, each to the extent applicable to the Investment Vehicle: private placement memorandum; related advisory or management agreements; limited liability company/partnership agreement; and any other governing documents (the “Governing Documents”). Typically, investors may not restrict investments by the Investment Vehicles in any capacity. Investment restrictions are described in the Governing Documents. Potential investors should review the applicable Governing Documents carefully for additional information before investing in an Investment Vehicle. If there is any inconsistency between the Governing Documents and this brochure, the Governing Documents’ terms will control. We do not provide legal, tax or accounting advice or services, and you should not assume we are providing you such services at any time. As of December 31, 2023, we managed on a discretionary basis $176,314,986 in regulatory assets under management.