Juggernaut Management, LLC (“Juggernaut”) is a private equity firm that specializes in lower middle market companies operating primarily in the consumer and healthcare industries. Specifically, Juggernaut focuses primarily on consumer wellness brands with a “right to win,” on business services companies that support such consumer brands and select healthcare companies that focus on improved outcomes and consumer engagement. Juggernaut was founded in 2009. The principal owners of Juggernaut are John D. Shulman and Alison B. Shulman as tenants-by-the-entirety. Juggernaut provides investment advisory services to private investment funds (collectively, the “Juggernaut Funds”), which primarily seek investment opportunities in private middle market companies with enterprise values between $50 and $150 million in the following sectors: (i) Consumer Health, Wellness & Lifestyle; (ii) Food & Beverage; (iii) Consumer Services; (iv) Outsourced Services and (v) Healthcare Services. Within these sectors, Juggernaut expects to target companies that typically exhibit one or more of the following characteristics: (a) non-cyclical businesses with stable or increasing demand for their products and services, (b) high free cash flow or return on assets, and (c) strong historical performance through multiple business cycles. In addition, the Juggernaut Funds generally seek investments where the portfolio company’s management team has a solid track record and relevant industry experience, as well as an economic interest in the portfolio company. The investment portfolios of the Juggernaut Funds may include both private companies and public companies. As either a minority or majority investor, the Juggernaut Funds provide capital through a variety of transaction types including consolidations, public to private transactions, and corporate divestitures through various transaction structures including buyouts, recapitalizations, and restructurings. Generally, a related person of Juggernaut acts as the general partner of each Juggernaut Fund, and Juggernaut serves as investment adviser to each Juggernaut Fund. References to Juggernaut in this Brochure include, as the context requires, affiliates through which Juggernaut provides investment advisory services or that act in any capacity referenced in the previous sentence. Juggernaut tailors its advisory services to the specific investment objectives and restrictions of each Juggernaut Fund set forth in such Juggernaut Fund’s limited partnership agreement (or similar governing agreement) and investment

management agreement, as applicable. Investors and prospective investors of each Juggernaut Fund should refer to the confidential private placement memorandum, limited partnership agreement (or similar governing agreement), investment management agreement and/or other governing documents, as applicable (collectively, the “Governing Documents”) of the applicable Juggernaut Fund for complete information on the investment objectives and investment restrictions with respect to such Juggernaut Fund. There is no assurance that any of the Juggernaut Funds’ investment objectives will be achieved. In accordance with common industry practice, one or more of the Juggernaut Funds and/or their general partners have entered (and expect to enter in the future) into “side letters” or similar agreements with certain investors pursuant to which the general partner grants the investor specific rights, benefits, or privileges that are not made available to investors generally. Additionally, certain “side letters” may restrict a Juggernaut Fund from making investments that would otherwise be permitted pursuant to the Governing Documents of the applicable Juggernaut Fund. Due to Juggernaut’s expertise and activity in the consumer goods sector, Juggernaut may encounter situations where portfolio companies of one or more Juggernaut Funds provide products and/or services to Juggernaut employees in the ordinary course of their marketing and product development efforts. Juggernaut tracks and discloses any such activity to the applicable Juggernaut Funds’ advisory boards. A Juggernaut Fund’s portfolio companies may be counterparties or participants to agreements, transactions, or other arrangements with one or more other portfolio companies of Juggernaut Funds that may not have otherwise been entered into but for the affiliation with Juggernaut. To mitigate any conflict of interest between the various Juggernaut Funds, portfolio company management teams are expected to select service provider counterparties based on their respective capabilities and on an arm’s-length basis without undue influence from Juggernaut. In addition, Juggernaut tracks and discloses this activity to the applicable Juggernaut Funds’ advisory boards. Juggernaut does not participate in any wrap fee programs. Juggernaut manages all assets on a discretionary basis in accordance with the terms and conditions of each Juggernaut Fund’s Governing Documents. As of December 31, 2023, the amount of regulatory assets Juggernaut manages on a discretionary basis is $1,543,644,915.