Advisory Business A. Virgo Investment Group LLC (“VIG”) and Virgo Investment Societas LLC (“VIS” or collectively, the “Firm”), both Delaware limited liability companies founded in 2009, are investment advisers located in Burlingame, California. Jesse Watson is the principal owner of VIG. VIG and Capricorn Investment Group LLC (“Capricorn”) are joint owners of VIS. VIG currently serves as an investment adviser and provides discretionary and non-discretionary advisory services to private pooled investment vehicles and co-investment vehicles (together, the “Funds”), the securities of which are offered to investors on a private placement basis. The Funds rely on an exemption from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”), pursuant to either Section 3(c)(1) or 3(c)(7), as defined in each Fund’s governing documents. From time to time, the Firm may offer co-investment opportunities to one or more third parties or manage co-investment vehicles that invest in portfolio companies in which the Funds invest or will invest. VIG also provides non-discretionary advisory services to separately managed account vehicles (the “Managed Accounts,” and together with the Funds, “Clients”) and may in the future serve as an investment adviser, with discretionary trading authority, to such Managed Accounts. VIG currently provides discretionary and non-discretionary investment advisory services to the following Clients:
• MZ Aviation Holdings;
• Virgo Societas Partnership III (Offshore), L.P.*;
• Virgo Societas Partnership III (Onshore), L.P. (*collectively, the “Fund III Vehicles”);
• Virgo Societas Partnership IV (Offshore), L.P.**;
• Virgo Societas Partnership IV (Onshore), LP(**collectively, the “Fund IV Vehicles”);
• Virgo Societas Partners CIF A, LP;
• Virgo Specialty Finance I (Offshore), LP (“VSFI”);
• Virgo – Cottonwood, LLC;
• Virgo-Crimson Hawks, LLC;
• Virgo – Redbud, LLC;
• Virgo Trillion Funding, LLC;
• Virgo – Transverse, LLC;
• Virgo – Transverse II, LLC;
• Virgo Transverse Core LLC;
• Zal Ltd.
• Zal 2 Limited

– Profit Share/Co-Investors Only;
• Zephyrus Aviation Partners I (Offshore), L.P.***;
• Zephyrus Aviation Partners II (Offshore), L.P.(***collectively, “ZAP”); and
• Zephyrus Aviation 5 (Cayman), Ltd. – Co-Investors. VIS provides investment advice and management services to separately managed accounts. B. VIG provides certain Funds with services on a discretionary basis, which include recommending, evaluating, structuring and negotiating investments selected by VIG’s investment committee, as well as managing portfolio companies post-acquisition or post-investment and advising with respect to disposition opportunities. VIG also provides services to the Funds on a non-discretionary basis, which include managing portfolio companies post-acquisition or post-investment and advising the Clients with respect to disposition opportunities. VIG’s Clients invest primarily in private investments, targeting middle-market credit and asset-based investments. In general, investments consist of a diversified portfolio across securities, industry sectors and asset classes. VIS provides the Funds with services that include recommending, evaluating, structuring and negotiating prospective investments, managing portfolio companies post-acquisition and post-investment and advising the Clients with respect to disposition opportunities. VIS invests primarily in private investments, targeting middle-market credit and asset-based investments. In general, investments consist of a diversified portfolio across securities, industry sectors and asset classes. Each Client may have one or more investors. VIS is no longer actively investing on behalf of its active Clients. As such, the Firm is currently only advising Clients with respect to the disposition of investment opportunities. C. The Firm utilizes the same strategy for all of the Clients and may tailor its advisory services to the specific needs of the Clients. D. The Firm does not participate in wrap fee programs. E. As of September 30, 2023, the Firm managed $987,997,608 in regulatory assets on a discretionary basis and $307,490,193 on a non-discretionary basis.