Pharos Capital Group, LLC (“Pharos”) primarily manages private equity funds specializing in later-stage investing, and provides investment advice to Pharos’ clients: Pharos Capital Partners, LP, Pharos Capital Partners II-A, LP, Pharos Capital Partners III, LP, Pharos Capital Partners III- A, LP, Pharos Capital Partners IV, LP, and Pharos Capital Partners IV-A, LP (the “Funds”). Pharos’ investment advice is limited to the Funds. Under limited circumstances and at its discretion, Pharos may offer advisory services to separately managed accounts (each an “SMA”) (collectively with the Funds, the “Clients”). Pharos is an investment adviser with offices in Brentwood, Tennessee, Dallas, Texas, and Baltimore, Maryland. Pharos was formed as a Delaware limited liability company in 2011 and is principally owned by Kneeland C. Youngblood, Pharos’ Managing Partner. Pharos is a certified Minority Business Enterprise (MBE). Pharos provides discretionary portfolio management to the Funds. The Funds are not registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the securities issued by the Funds are not registered under the Securities Act of 1933, as amended (the “Securities Act”). As an investment adviser, Pharos identifies investment opportunities and participates in the acquisition, management, monitoring and disposition of investments for the Funds. The Funds’ objective is to achieve attractive risk-adjusted returns by investing in high-growth companies, primarily through equity and equity-related instruments, as well as debt. In investing on behalf of the Funds, Pharos previously had a core focus on the healthcare and business service sectors, and now has a core focus on healthcare companies.

Within the healthcare industry, Pharos is focused on growing middle-market healthcare companies that aim to lower the cost of care, improve patient outcomes and/or expand access to care, predominantly in rural and underserved markets. Pharos seeks to make investments for the Funds that address one or more of the United Nations’ Sustainable Development Goals related to poverty, good health and well-being, inequality and sustainable communities and cities. Pharos primarily seeks to partner with management teams to take a substantial or controlling equity position in Fund portfolio companies through buyouts, recapitalizations, or staged growth investments. The Funds then use this position to assist the company in executing its growth strategy and to maximize the investment’s exit value. Pharos provides advice and personnel necessary for the Funds to execute such strategies. The investment strategy of the Funds is not tailored to any particular investors, and investors cannot impose restrictions on any of the Funds’ investments. For its SMA Clients, Pharos provides non-discretionary management services, making and executing investment recommendations in pursuit of the investment mandate(s) established in the advisory agreement that are tailored to the SMA’s specific needs, which generally includes U.S. Government bonds. SMA Clients may impose restrictions on investing in certain securities or types of securities. Pharos currently manages a total of $1,138,830,519 of Client assets, $1,091,412,541 of which are managed on a discretionary basis and $47,417,978 of which are managed on a nondiscretionary basis. Such amount is based upon the calculation of Client regulatory assets under management as of December 31, 2023.