Operational and Organizational Information: Silverpeak Real Estate Partners L.P. (“Named Investment Adviser”) and SP SMC Capital LLC (“Relying Investment Adviser” and together with the Named Investment Adviser, the “Firm” or “Silverpeak” or each an “Investment Adviser”), both Delaware domiciled entities, are investment advisers registered or deemed registered with the U.S. Securities and Exchange Commission (“SEC”). Silverpeak Real Estate Partners L.P and SP SMC Capital LLC were formed in 2010 and 2015, respectively. The Named Investment Adviser manages numerous investment vehicles, which are organized into, and managed as two “fund platforms” as follows: , Silverpeak Legacy Partners II L.P. (formerly Lehman Brothers Real Estate Partners II L.P.) and its parallel limited partnerships and alternative investment vehicles (“SLP II”), and Silverpeak Legacy Partners III L.P. (formerly Lehman Brothers Real Estate Partners III L.P.) and its parallel limited partnerships (“SLP III”). Each of SLP I, SLP II and SLP III (each a “Fund” and collectively the “Funds”) is managed as an investment platform whose investments are distributed and allocated to the investment vehicles that each of the Funds is comprised of, as further described below. SLP II is comprised of both parallel private fund (pooled vehicle) limited partnership entities as well as side-by-side investment vehicle entities that are affiliates of Lehman Brothers Holdings Inc. (“Lehman Holdings”), while SLP III is comprised solely of parallel private fund (pooled vehicle) limited partnership entities. Neither, SLP II or SLP III exists as a legal entity. The Funds’ limited partnerships and alternative investment vehicles include: i) 29 limited partnerships, 27 of which are advised or sub-advised by the Named Investment Adviser (each, a “Partnership” and collectively, the “Partnerships”) and 2 of which are Lehman employee vehicles (the “Lehman Partnerships”) advised by Lehman Brothers Private Equity Advisers LLC (“Lehman”), and; ii) 5 alternative investment vehicles that are managed as separately managed accounts (the “Lehman Accounts”). The Lehman Accounts are owned by Lehman Holdings (accordingly, the 5 Lehman Accounts have historically been treated as 1 separately managed account client). SLP II is comprised of 8 Partnerships and 2 Lehman Accounts; and SLP III is comprised of 11 Partnerships. Typically, each Partnership has a general partner (each a “General Partner” and collectively “General Partners”), which is owned and/or controlled by Lehman or its affiliates. The Funds are not currently making new investments or accepting new investors as of the date of this Brochure. The management team for the Named Investment Adviser consists of Rodolpho Amboss, Brett Bossung and Mark Walsh, each of whom is directly or indirectly a principal owner of the Named Investment Adviser. The Relying Investment Adviser manages a separately managed account vehicle on behalf of institutional capital (such vehicle and any future similar vehicles each, an “SP SMA” and collectively, the “SP SMAs”). The current SP SMA is not currently making new investments. The management team for the Relying Investment Adviser consists of Brett Bossung and Mark Walsh, each of whom is indirectly a principal owner of the Relying Investment Adviser. Note: For purposes of this Brochure, “Client” may include any or all of the Funds, the Partnerships and the SP SMAs, as well as, where applicable, investors in the Partnerships (also called “Investors” or “Limited Partners”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in each Client’s governing documents. Types of Advisory Services Offered: Silverpeak provides discretionary investment advisory services primarily related to making equity and equity- related investments in real estate properties

and companies and service businesses ancillary to the real estate industry in addition to investments in debt instruments, including non-performing loans and other distressed debt instruments, or other securities that meet Clients’ investment profiles. Silverpeak does not generally provide advice with respect to other types of investments. With respect to the Funds, in certain circumstances the General Partners' approval may be necessary with respect to a material change to a business plan that requires capital in excess of certain thresholds. With respect to the SP SMA, in limited circumstances, the Client may need to approve a potential acquisition of an investment. Silverpeak holds itself out as specializing in real estate investments. Please review the investment guidelines, specified below under “Client Investment Guidelines and Parameters.” Client Investment Guidelines and Parameters: Silverpeak’s advisory services include, among other things, providing advice regarding asset allocation and the selection of investments. Decisions relating to investment advice are based on an analysis of the merits and risks of the investment involved and on the investment guidelines and restrictions of the Client. The following is a description of the principal types of investments Silverpeak seeks to employ on behalf of its Clients, which is merely a summary; one should not assume that any descriptions of specific activities are intended in any way to limit the types of investment activities Silverpeak may undertake. The investment objective is to seek to achieve attractive risk-adjusted returns by identifying and structuring investments for the unique conditions of each local market through various instruments including direct property ownership, joint ventures, mortgages and investments in equity and debt instruments of private and public real estate, operating and service companies. In most situations, Clients enter into a partnership or joint venture with an operating partner or a management team that has specialized expertise in the operation, marketing, leasing or development of the particular property type. Clients invest in Real Estate Assets (defined below), Portfolio Companies (defined below) and in-service companies ancillary to the real estate industry. “Real Estate Assets” include equity interests, debt interests, debt or equity-related interests, participations, leasehold interests, or other interests, direct or indirect, in or relating to single or multiple real estate properties or assets (including, for all purposes hereunder, land, buildings and other improvements and related personal or intangible property), pools or portfolios of real estate properties or assets, partial interests or rights in real estate properties or assets, options, rights of refusal, rights of offer and similar rights in respect of real estate assets or properties or portions thereof, debt or equity securities and interests in real estate operating or service companies, real estate holding corporations and real estate investment trusts or other entities that are taxed as real estate investment trusts for federal income tax purposes. “Portfolio Companies” include companies (whether corporations, partnerships, limited liability companies or other entities) with direct or indirect interests in Real Estate Assets, or that are otherwise involved in the ownership, operation, management or development of Real Estate Assets or in other real estate-related businesses or assets in which a Client owns a direct or indirect interest, including, without limitation, real estate investment trusts and service companies ancillary to the real estate industry. Client Assets Under Management (AUM): (rounded to the nearest $100,000) Discretionary Regulatory AUM: $335,400,000- as of 12/31/2023