The Company is a subsidiary of Tricon Residential Canada ULC and an affiliate of Tricon Residential Inc. The Company is headquartered in Toronto, Canada with an office in San Francisco. On May 1, 2024, Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. completed the acquisition of all outstanding common shares of Tricon Residential Inc. (“Common Shares”). The Common Shares are no longer listed on the NYSE or TSX. Tricon will remain headquartered in Toronto, Ontario and the Tricon subsidiaries which serve as the general partners of, and manage, the Company’s Clients will continue to do so pursuant to the terms of their respective governing documents. The Company’s Advisory Business consists of providing discretionary investment advisory services to its clients, which are the private commingled funds (“Clients”) that invest in North American for-sale housing projects. Our private fund investors include plan sponsors, institutions, endowments, foundations and high net worth investors who seek exposure to the residential industry. The Company provides investment advice to the funds, consistent with any restrictions and objectives outlined in the offering documents for such funds, and not to the underlying investors in each fund. Since its founding in 1988, the Company has raised 12 private commingled funds (which number excludes parallel funds within any given fund structure). Our first four funds were focused on the North American market (Canada and the United States), but beginning in January 2000, we began to focus each new fund specifically on either the U.S. or Canadian market. Since this time, we have raised eight funds (again, excluding parallel funds). In addition, Tricon’s other third-party investment vehicles include real estate and joint ventures. These investment vehicles are not considered Clients and are outside of our “Advisory Business”. Accordingly, they are not considered in this Brochure. Separately from the Company’s Advisory Business, Tricon Residential is a rental housing company catering to the middle-market demographic throughout the United States and Canada. Tricon owns and manages approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada through

an integrated technology-enabled operating platform, and has primary offices in Toronto (Ontario), Orange County (California), and San Francisco (California). The Company’s Clients are invested exclusively in Tricon’s legacy business of investing in for-sale housing assets. Our funds make investments by providing equity or equity-type financing to experienced local or regional developers and builders primarily in the United States. These development partners or operators acquire, develop, and/or construct primarily residential projects including single-family and multi-family land development, condominium development, homebuilding, multi-family construction, and ancillary commercial development related to a housing project. These projects typically require anywhere from $10 to $150 million of equity capital and generally take three to eight years to complete. Since each underlying business plan entails the sale of finished lots or super pads to public or regional homebuilders or homes to consumers, the investments are generally expected to naturally liquidate over time. The Company generally focuses on the following investment products: (i) land development and housing projects including suburban subdivisions, in-fill housing, condominiums and multi-family development, and (ii) longer term investments in master planned communities, including active adult communities. We view for-sale housing development as a three-step process that generally includes (i) rezoning and entitlement activity; (ii) installation of horizontal infrastructure, namely roads and utilities; and (iii) vertical construction of single-family and multi-family dwellings. In order to mitigate risk, our preference is to generally invest in the second and third phase. We currently manage investments for our Clients in three major markets across the United States (Northern and Southern California; Phoenix, Arizona) and two major markets in Canada (Vancouver and Edmonton). All of the Clients have been fully invested and are currently focused on the disposition of assets, which are generally self-liquidating, as described below, in Item 8. As of December 31, 2023, we managed on a discretionary basis approximately $207,468,000 of regulatory assets under management on behalf of our Clients.