IPP is an investment advisory services firm specializing in investment management for private funds focused on investment in real estate assets and real estate-related businesses (“Real Estate Assets”). Currently, IPP provides investment advisory services to private funds (generally referred to in this document as “Private Funds”), including co-investment vehicles that invest alongside other Private Funds in certain investments (as discussed further in Item 10 – Other Financial Industry Activities and Affiliations below), sponsored by IPP or certain of its affiliates whose purposes are to make investments in Real Estate Assets. The Private Funds are typically structured as limited partnerships, and an affiliate of IPP serves as the general partner of each Private Fund and IPP serves as the investment adviser to each Private Fund. Private Funds may also be structured as limited liability companies or other entities, with an affiliate of IPP serving as the manager, managing member, or other management role analogous to a general partner, manager, or managing member. Investment advisory services provided by IPP to Private Funds are provided directly to each Private Fund and not individually to the limited partners or analogous investors of a Private Fund (generally referred to in this document as investors). IPP may in the future provide investment advisory services to additional clients that are not Private Funds. IPP serves as the investment adviser with discretionary authority to implement investment decisions for each client1 to which it provides investment advisory services. IPP’s investment decisions and advice with respect to its clients are in accordance with the investment objectives and restrictions set forth in the limited partnership agreement or other applicable governing documents of each client and, with respect to Private Funds, any side letters that a Private Fund or its General Partner executes with such Private Fund’s investors. Real Estate Assets in which IPP’s clients invest may take the form of or include, without limitation: − the acquisition of direct interests in real property; − the formation of joint ventures or other co-investment arrangements with third-parties for investments in Real Estate Assets (including the acquisition of debt and equity interests in joint ventures); − the acquisition of securities in entities that own or invest in one or more Real Estate Assets; − investment (whether in equity or debt) in portfolio companies that perform services relating to, or otherwise engage in, businesses relating to Real Estate Assets; − the sponsorship of or investment in real estate investment trusts (“REITs”), pooled investment funds, or other real estate related companies (including management, financing, development, or other operating companies); and − the issuance or acquisition of mezzanine financing, mortgage loans, and other real estate backed indebtedness, or participation in, or ownership of, securities backed by such indebtedness. Certain clients of IPP also from time to time co-invest

alongside private funds managed by IPI Partners, LLC (“IPI”), an independent registered investment adviser jointly owned and controlled by an affiliate of IPP and ICONIQ Capital, LLC (see Item 10 – Other Financial Industry Activities and Affiliations below for additional discussion of IPI), in certain data center Real Estate Assets in accordance with the respective governing documents of each such client. IPP’s clients make investments in Real Estate Assets located in the United States or outside the United States in accordance with restrictions set forth in the respective governing documents of each client. IPP was formed in 2007 and is wholly-owned by investment professionals who also own a portion of the general partner or analogous management entity of each of the Private Funds (each a “General Partner”), and none of whom would be deemed to be a principal owner of IPP. Robert M. Bass and associated persons or entities (“Bass Entities”), are investors in each of the Private Funds and are also passive minority special limited partners (or analogous investors) of the General Partner of each Private Fund and, in such capacity, participates in the economics of, and receive certain 1 The use of “client” does not include individual limited partners (or analogous investors) of Private Funds, unless otherwise expressly stated herein. preferential rights in, each Private Fund’s General Partner. The applicable Bass Entities’ economic participation in each Private Fund’s General Partner includes the applicable Bass Entities receiving a portion of the carried interest or incentive allocation (if any) paid by each Private Fund to its General Partner (see Item 5 – Fees and Compensation below for additional discussion of carried interest and incentive allocations). Bass Entities are not investors in, do not own interests in, and do not participate in the economics of IPP. As of December 31, 2023, IPP had assets under management of approximately $1,380,181,446 (based on initial capital commitments and excluding realizations on investments prior to December 31, 2023). The foregoing assets under management (as of December 31, 2023) are attributable to the Private Funds. In February 2023, an affiliate of IPP, together with an affiliate of Taylor Theus Holdings (“Taylor Theus”), an independent third-party self-storage real estate manager, formed Safely Store, LLC (“Safely Store”). Safely Store was established as an independent entity to manage certain self- storage real estate assets, and provides advice to the investment vehicles it manages (which, for the avoidance of doubt, are separate from the Private Funds advised by IPP) as to the advisability in investing in certain self-storage real estate assets. Safely Store and an affiliated entity (together, the “Safely Store Entities”) established to serve as the general partner of the investment vehicles managed by Safely Store are indirectly jointly owned by certain investment professionals of IPP and certain investment professionals of Taylor Theus (see Item 10 – Other Financial Industry Activities and Affiliations below for additional discussion of Safely Store). IPP does not participate in wrap fee programs.