ADVISORY BUSINESS A. General Description of Advisory Firm. PointState Capital LP, a Delaware, United States of America, limited partnership, commenced providing advisory services in January 2011 and is currently headquartered in New York, New York. PointState Capital GP LLC, a Delaware, United States of America, limited liability company (“PCGP”) is the general partner of PointState Capital LP. Zachary J. Schreiber is the Chairman, Chief Executive Officer and Chief Investment Officer of PointState Capital LP, the managing member of PCGP and of the General Partner Entities (as defined below) and the principal owner of PointState Capital LP. B. Description of Advisory Services. 1. Advisory Services. PointState Capital LP and its “Relying Advisers,” PointState Argentum LLC, PSC LV LLC and PointState Season LLC (collectively, “PointState”), serve as investment managers with discretionary trading authority to private investment funds, the securities of or interests in which are generally offered to investors on a private placement basis. PointState provides investment management services to private investment funds (each a “PointState Fund” and collectively the “PointState Funds”), the interests in which are privately offered to individuals and entities that are “accredited investors” and, in the case of certain PointState Funds, “qualified eligible persons” and “qualified purchasers” under the federal securities and commodities laws. As of the date of this Brochure, PointState does not provide investment or management services to registered investment companies or directly to individuals. The PointState Funds include: (1) PointState Fund LP, a Delaware, United States of America, limited partnership (the “Domestic Fund”); (2) SteelMill Fund Ltd, a Cayman Islands exempted company (the “Offshore Fund” which, together with the Domestic Fund, invests substantially all of its capital through SteelMill Master Fund LP, a Cayman Islands exempted limited partnership managed by PointState (the “Master Fund”), and, together with the Domestic Fund, the Offshore Fund and the Master Fund, the “Funds”); (3) PointArgentum Fund LP, a Delaware, United States of America, limited partnership (“PointArgentum Onshore”); (4) PointArgentum Fund Ltd, a Cayman Islands exempted company (“PointArgentum Offshore”), which, together with PointArgentum Onshore, invests substantially all of its investable capital primarily through PointArgentum Master Fund LP, a Cayman Islands exempted limited partnership managed by PointState (“PointArgentum Master Fund” and, together with PointArgentum Onshore and PointArgentum Offshore, the “PointArgentum Funds”); (5) PSF LD LLC, a Delaware, United States of America, limited liability company (the “Onshore SPV”); (6) STM LCB LLC, a Cayman Islands limited liability company (the “Offshore Feeder SPV”), which invests substantially all of its investable capital primarily through STM LC LLC, a Cayman Islands limited liability company managed by PointState (the “Offshore SPV” and, together with the Onshore SPV and the Offshore Feeder SPV, the “SPVs”); and (7) PointSeason Fund LP, a Delaware, United States of America, limited partnership (“PointSeason Onshore”), which invests all of its investable capital through PointSeason Master Fund LP, a Cayman Islands exempted limited partnership managed by PointState (“PointSeason Master Fund” and, together with PointSeason Onshore, the “PointSeason Funds”); (8) PointSeason Fund II LP, a Delaware, United States of America, limited partnership (“PointSeason II Onshore”); (9) PointSeason Offshore Fund II LP, a Cayman Islands exempted limited partnership (“PointSeason II Offshore”), which together with PointSeason II Onshore, invests all of its investable capital through PointSeason Master Fund II LP, a Cayman Islands exempted limited partnership managed by PointState (“PointSeason Master Fund II” and, together with PointSeason Onshore II and PointSeason Offshore II, the “PointSeason II Funds”); (10) PointSeason Fund III LP, a Delaware, United States of America, limited partnership (“PointSeason III Onshore”); (11) PointSeason Offshore Fund III LP, a Cayman Islands exempted limited partnership (“PointSeason III Offshore”), which together with PointSeason III Onshore, invests all of its investable capital through PointSeason Master Fund III LP, a Cayman Islands exempted limited partnership managed by PointState (“PointSeason Master Fund III” and, together with PointSeason Onshore III and PointSeason Offshore III, the “PointSeason III Funds”) and other subsidiaries and/or trading vehicles. A Confidential Private Placement Memorandum (an “Offering Memorandum”) has been prepared for each PointState Fund (excluding each of the “Master Funds”, the SPVs, the PointSeason Funds, the PointSeason II Funds and the PointSeason III Funds) and provides information to prospective investors about each such PointState Fund’s objectives, strategies, risks, structure, costs, withdrawal terms and other matters of importance to investors. Each of the PointState Funds may invest through other entities, which may be managed by PointState or any of its affiliates, or by such other managers as PointState determines from time to time. Furthermore, each of

the PointState Funds (other than the SPVs) may co-invest with third parties through joint ventures or other entities. Affiliates of PointState serve as the general partner or managing member, as applicable, of each PointState Fund (each such affiliate, a “General Partner Entity” and all such affiliates, the “General Partner Entities”). As used in this Brochure, the term “client” generally refers to each of the PointState Funds. As a general matter, this Brochure includes information about PointState and its relationships with its clients and affiliates. While much of this Brochure applies to all such clients and affiliates, certain information included herein applies only to specific clients or affiliates. 2. Investment Strategies and Types of Investments. The Funds pursue multiple investment strategies, including, but not limited to: long/short equities, global macro, investing in commodity and commodity-related industries, high-yield and distressed credit, event-driven/special situations investing, relative value investing and private investments. The PointArgentum Funds pursue multiple investment strategies, including, but not limited to: macro, long/short equities, high-yield and distressed credit, event-driven/special situations investing, relative value investing and private investments. The PointArgentum Funds invest principally in Argentine Financial Instruments and may also invest in other Financial Instruments issued by issuers in other jurisdictions. The SPVs hold participations in certain assets of the Funds that have limited liquidity or that PointState otherwise determined should be held in the SPVs (the “Retained Assets”), representing the pro rata share of the Retained Assets attributable to all investors that withdrew or redeemed, as applicable, from the Funds as of December 31, 2019 and subsequent applicable withdrawal or redemption dates, as applicable (the “Withdrawing Investors”). The Retained Assets will be liquidated over time and interests or shares, as applicable, in the SPVs will entitle each Withdrawing Investor to its proportionate share of the net proceeds received upon the liquidation of the Retained Assets. The PointSeason Funds, the PointSeason II Funds and the PointSeason III Funds invest in a particular company that operates in the secondary ticketing market. Please see Item 8 (Methods of Analysis, Investment Strategies and Risk of Loss) below for a more detailed description of the investment strategies pursued and types of investments made by the PointState Funds. The descriptions set forth in this Brochure of specific advisory services that PointState offers to clients and investment strategies pursued and investments made by PointState on behalf of its clients should not be understood to limit in any way PointState’s investment activities. PointState may offer any advisory services, engage in any investment strategy and make any investment, even if not described in this Brochure, that PointState considers appropriate, subject to each client’s investment objectives and guidelines. Not all of the strategies described in this Brochure may be used at the same time or in the same proportions and PointState may add, suspend, eliminate or modify investment strategies at its discretion. The investment strategies PointState pursues are speculative and entail substantial risks. Investors should be prepared to bear a substantial loss of capital. There can be no assurance that the investment objectives of any client will be achieved. C. Availability of Customized Services for Individual Clients. As a general matter, PointState does not tailor its advisory services to the needs of individual investors; rather, PointState’s investment decisions and advice with respect to each PointState Fund are subject to each PointState Fund’s investment objectives and guidelines, as set forth in such PointState Fund’s Offering Memorandum and/or organizational documents. D. Wrap Fee Programs. PointState currently does not participate in any wrap fee programs. E. Assets Under Management. As of December 31, 2023, PointState had approximately $7,386,906,168 of regulatory assets under management on a discretionary basis. As of December 31, 2023, PointState does not manage any assets on a non-discretionary basis. Additional information about PointState’s business, history, organization and other matters addressed in Item 4 (Advisory Business) can be found in the Offering Memorandum and/or organizational documents of the relevant PointState Fund. This Brochure does not constitute an offer to sell or solicitation of an offer to buy any securities. The securities of the PointState Funds are offered and sold on a private placement basis under exemptions from registration promulgated under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and other exemptions of similar import under U.S. state securities laws and the securities laws of other jurisdictions where any offering may be made. Any such offer or solicitation will be made only by means of a confidential offering memorandum and related subscription materials.