Firm Description and Principal Owners The Praedium Group LLC (the “Praedium” or “we”) is a Delaware limited liability company formed in 1991. Praedium serves as an investment manager for two investment vehicles listed in the table below (inclusive of any parallel or alternative investment vehicles, each a “Fund” and collectively, the “Funds”). Praedium has established in the past, and may in the future establish, on a transaction-by-transaction basis, certain investment vehicles through which certain investors may invest alongside one or more Funds in a particular investment opportunity (each such vehicle, a “Co-Investment Vehicle”). Co-Investment Vehicles are typically limited to investing in the transaction with respect to which they were organized. As a general matter, the General Partner (defined below) of a Fund may, in certain circumstances, cause a Co-Investment Vehicle to make and dispose of its investment in the particular investment opportunity at substantially the same time, on substantially the same terms and conditions and in the same proportions as the applicable Fund(s) that are also invested in that investment opportunity, except as may be necessary because of different tax, legal or regulatory considerations. The Funds’ investments may require extensive due diligence activities prior to acquisition, and the related expenses may be quite substantial. These expenses may include, among others, due diligence and legal costs, and bid preparation and submission costs. Due to the nature of co-investments on a transaction-by-transaction basis, it is often the case where a co-investment is not identified until late in the due diligence process. Therefore, such expenses incurred for an investment that is not consummated (e.g. “broken deal” expenses) will generally be borne solely by the Funds, even if co-investors were being sought and, in some cases, agreed, to participate had the transaction been consummated.

Praedium’s strategy consists of repositioning and otherwise enhancing real estate related assets, the values of which have been impaired by prior mismanagement, economic dislocation and other market inefficiencies. The Funds primarily invest in middle-market, capital-intensive and management-intensive assets in the multifamily asset class. As indicated in the following table, an affiliate of Praedium is the general partner of each Fund (“General Partner”). Fund General Partner Praedium IX Multifamily Value Fund, L.P. TPF IX GP LLC Praedium X Middle-Income Housing Fund, L.P. TPF X MIH GP LLC Russell Appel, Christopher Hughes and Mason Sleeper are the principals of Praedium (the “Principals”). Description of Advisory Services Praedium serves as investment manager to each of the Funds pursuant to investment management agreements. As investment manager to the Funds, Praedium: 1. Identifies and evaluates investment opportunities for the Funds; 2. Structures and negotiates the terms of investments to be made by the Funds; 3. Monitors review of all documents required to complete investment transactions of the Funds; 4. Monitors the performance of investments of the Funds and provides an active role in the management of the investments; 5. Evaluates, structures and supervises, if appropriate, the timing and method of disposition or liquidation of investments; and 6. Prepares and transmits the reports required to be prepared and transmitted to the limited partners of each Fund pursuant to their respective limited partnership agreement. While Praedium manages each Fund in accordance with the investment objectives and guidelines found in the Funds’ private placement memorandums and limited partnership agreements, Praedium pursues the same investment program for all of the Funds. As of December 31, 2023, we manage approximately $1,623,580,398 on a discretionary basis.