Fundamental Advisors LP (“Fundamental Advisors,” “Fundamental,” “we” or “us”) acts as the discretionary investment adviser to U.S. private investment vehicles that we or a related entity sponsors (“fund clients”). Fundamental Advisors’ core investment strategy is primarily to pursue a diverse array of special situation opportunities within and related to the municipal market or assets otherwise having significance to the functioning or development of a community or some other connection to a municipality or other governmental agency or entity, which assets we refer to as “public purpose assets,” to achieve long-term capital appreciation and current income. Fundamental Advisors seeks to achieve its objective by targeting control-oriented investments in stressed and distressed assets or securities, financing the development or revitalization of public purpose assets, or acquiring undervalued securities in the secondary market. Fundamental Advisors’ strategy also uses over-the- counter derivatives, such as total return swaps, interest rate swaps, interest rate locks, credit default swaps and tender option bond structures, where we believe these instruments provide a desired exposure or hedge exposure and risk. The investment objectives, strategies, fees and risks of each fund client and other material information, are set forth more fully in the fund clients’ confidential offering documents, which are available to investors and qualified prospective investors with whom Fundamental Advisors

or its agents have a pre-existing substantive relationship. Fundamental Advisors believes its strategy positions the core strategy fund clients to benefit from evolving market dynamics in the municipal market and the market for public purpose assets. Fundamental Advisors also employs a specialty finance strategy focused on investing primarily in development and construction loans (including equipment loans) for solar energy generation facilities and solar energy plus battery storage and standalone battery storage systems across the U.S. Fundamental Advisors is a limited partnership formed in Delaware in 2007. Fundamental Advisors Group LLC, also formed in Delaware in 2007, is Fundamental Advisors’ general partner as well as the general partner of Fundamental Advisors Holdings L.P., a Delaware limited partnership which is Fundamental Advisors’ principal owner. Laurence Gottlieb acts as Fundamental Advisors’ Chairman and Chief Executive Officer and is also the managing member of the general partner. Mr. Gottlieb is also indirectly Fundamental Advisors’ principal owner as the sole limited partner in Fundamental Advisors Holdings L.P. Mr. Gottlieb is assisted by a senior management team and senior investment team. As of December 31, 2023, Fundamental Advisors managed approximately $3,959,000,000 of regulatory assets under management, as calculated for and reported in Item 5F of Part 1A of Form ADV, on a discretionary basis. Fundamental does not manage assets on a non-discretionary basis.