Old Bellows and its affiliates provide discretionary investment management services regarding securities and other financial instruments. Old Bellows currently provides discretionary investment management services to Class A the Scoggin Worldwide Funds Class A (“Worldwide Funds Class A”) which are a group of funds structured in a master-feeder arrangement. In addition, Old Bellows is the investment manager of the Scoggin Worldwide Funds-Class X (“Worldwide Funds Class X” and together with the Worldwide Funds Class A, the “Worldwide Funds”). The Scoggin Class X Worldwide Fund is organized as a separate class in the same master-feeder arrangement as the Worldwide Funds Class A. The Worldwide Funds Class X were launched in March 2019. Old Bellows has appointed Athena Partners Management LLC (“Athena”) to act as a discretionary sub-advisor for the Worldwide Funds Class X. Athena is affiliated with Old Bellows and is registered with the SEC as a relying adviser (“Relying Adviser”) of Old Bellows under a single Form ADV filing. Old Bellows and Athena are collectively referred to throughout this Brochure as the “Firm.” The Worldwide Funds are currently only owned by related persons of Old Bellows or its associated persons. In the future, the Firm may advise separately managed accounts (“Separate Account Clients”) of individuals and/or entities who meet the definition of “qualified client” in Rule 205-3 under the Investment Advisers Act of 1940, as amended (“Advisers Act”) and other pooled investment vehicles (“Pooled Investment Vehicles” and together with the Worldwide Funds and Separate Account Clients, “Clients”). For the avoidance of doubt, as of the date of this Brochure, the Firm’s only Clients are the Worldwide Funds but may in the future also include Separate Account Clients and/or Pooled Investment Vehicles. The Firm directly or indirectly invests on behalf of Clients in securities of distressed companies, bank debt, high yield bonds, investment grade bonds, U.S. government securities, trade claims and other special situations. In addition, Scoggin may invest in the most liquid digital assets (i.e. Bitcoin and Ethereum) with a limited portion of a Client’s assets. Old Bellows is responsible for all of the investment and trading activities of the Clients. The investment objectives, strategies, fees and risks of the Worldwide Funds Class A and other

material information regarding such funds are set forth more fully in the Worldwide Funds Class A confidential offering document (the “Memorandum”), which is available to investors and qualified prospective investors with whom Old Bellows or its agents have a pre-existing substantive relationship. Old Bellows is a Delaware limited partnership established in 2006. The principals of Old Bellows are (i) Old Bell Associates LLC, a Delaware limited liability company, (ii) Dev Chodry, and (iii) Scoggin Management LP (“Scoggin”), the successor to Scoggin LLC and an affiliate of Old Bellows that is also a registered investment adviser. Athena is a New York limited liability company established in 2019. Athena’s principals are JMF Investments Inc. and Liquid Consultants LLC which are wholly-owned by Jason Fishoff and Paul Marx, respectively. Old Bellows is the manager of Athena and will oversee Athena’s trading activities. For additional information about Athena, see Schedule R of Old Bellows’ Form ADV Part 1A. Dev Chodry is the Chief Investment Officer of Old Bellows and Chief Investment Officer for Distressed Credit Strategies at Scoggin. Craig Effron and Curtis Schenker, principals of Scoggin, are the Co-Chief Investment Officers for Event-Driven Strategies at Scoggin. Scoggin also acts as investment adviser to private investment funds including (1) its flagship funds (“Flagship Funds”) which include Scoggin Capital Management II LLC, Scoggin Capital Management LLC and Scoggin Overseas Fund Ltd. (collectively, the “Scoggin Feeder Funds”) and Scoggin International Ltd., which functions as the “master fund” in which the Scoggin Feeder Funds invest all of their investable assets; and (2) certain other private investment funds (together with the Flagship Funds, the “Scoggin Funds” and the Worldwide Funds and the Scoggin Funds, collectively, the “Affiliated Funds”). In addition, Scoggin may in the future manage other types of accounts (such other accounts, the Scoggin Funds and Clients, collectively, the “Affiliated Clients”). Old Bellows had approximately $36,248,332 of regulatory assets under management on a discretionary basis as of December 31, 2023. Athena had approximately $1,505,313 of regulatory assets under management on a discretionary basis as of December 31, 2023. The Firm does not manage assets on a non-discretionary basis.