General Eagle Point Credit Management LLC (“Eagle Point” or the “Firm”) was established in November 2012 and has been registered with the SEC as an investment adviser since March 2013. Eagle Point provides investment advisory services to (1) privately offered pooled investment vehicles, (2) separately managed accounts, and (3) closed-end registered investment companies (collectively, the “Accounts”), pursuant to separate investment advisory agreements between Eagle Point and each applicable client. The investment advisory services provided by Eagle Point are generally discretionary in nature; however, Eagle Point may provide non- discretionary investment advisory services to one or more Accounts from time to time. Eagle Point’s investment advisory services primarily relate to, and are primarily limited to, the following types of investments: (1) equity and debt tranches of CLOs and similar securitization vehicles (including loan accumulation facilities); (2) debt and preferred equity securities, and similar instruments, issued by various types of pooled investment vehicles, including business development companies, registered closed-end investment companies, unregistered private funds, REITs and other similar vehicles (generally referred to as “Portfolio Debt Securities” herein); (3) direct investments in corporate debt securities or other credit-oriented obligations (including loans, high yield bonds, and distressed securities, among other types of instruments); (4) synthetic credit investments, such as significant risk transfer securities and credit risk transfer securities issued by banks or other financial institutions; and (5) investments that Eagle Point believes are related to or consistent with the foregoing. These services are described further below. Eagle Point’s Ownership Eagle Point is ultimately wholly owned by Eagle Point Holdings LP (“EP Holdings”) through intermediary holding companies. EP Holdings, in turn, is primarily owned by certain of the “Trident Funds” (including certain affiliates, collectively, the “Trident Funds”), which are a series of private equity funds managed by Stone Point Capital LLC (“Stone Point”), an SEC-registered investment adviser. The Trident Funds hold interests in Eagle Point through various intermediary holding companies. The Trident Funds and Stone Point are described further under “Item 10 – Other Financial Industry Activities and Affiliations.” Certain of Eagle Point’s employees also hold indirect economic interests in Eagle Point. Eagle Point is ultimately governed through intermediary holding companies by a board of managers which includes Thomas Majewski and certain principals of Stone Point. Advisory Services As described above, Eagle Point offers discretionary investment advisory services through a variety of vehicles and accounts (as discussed more fully under “Item 7 – Types of Clients”), including:
• pooled investment vehicles which are excepted from registration under the U.S. Investment Company Act of 1940, as amended (the “Investment Company Act”), pursuant to Section 3(c)(7) thereof (“Private Funds”);
• separately managed accounts, managed on behalf of institutional investors or high net worth individuals; and
• externally managed closed-end management investment companies registered under the Investment Company Act (“Registered Funds”). Strategies Eagle Point may employ one or more of the following strategies on behalf of a particular investment vehicle or account: CLOs and Related Investments Generally, CLOs are securitization vehicles that pool portfolios of primarily below investment grade U.S. senior secured loans and issue securities in the form of multiple, primarily floating-rate, debt tranches, as well as a subordinated tranche, commonly referred to as the “equity” tranche. Loan accumulation facilities are short- to medium-term facilities often provided by the bank that will serve as the placement agent or arranger on a CLO transaction. In addition, subject to the applicable Account mandate, Eagle Point also invests directly in underlying loans and other types of assets held by CLOs. Eagle Point also invests in other related securities and instruments, including collateralized debt obligations, collateralized bond obligations, and securities issued by other types of securitization vehicles. Portfolio Debt Securities Portfolio Debt Securities are primarily debt or preferred equity securities or instruments issued by funds and investment vehicles, such as business development companies, registered closed-end investment companies, unregistered private funds, REITs and similar investment vehicles, to finance a portion of their underlying investment portfolios. Portfolio Debt Securities may also include loans under which such a fund or investment vehicle (or special purpose vehicle thereof) is a borrower, and other securities and instruments that are consistent with the foregoing as determined by Eagle Point in its discretion. The Firm refers to its strategy of investing primarily in Portfolio Debt Securities as the “Defensive Income Strategy.” Opportunistic and Strategic Credit-Related Investments Eagle Point also employs other flexible credit-oriented strategies, which involve investments in (i) high yield, investment grade and distressed corporate bonds, (ii) corporate loans (including, without limitation, senior secured loans, mezzanine loans, revolving loans, delayed draw loans, equipment financings, distressed loans, and DIP financings), (iii) common stock and other securities or instruments issued by business development companies, REITs, operating companies, SPACs, and other similar issuers, (iv) credit-related exchange traded funds, (v) credit default swaps and other credit derivatives, (vi) commodity-related investments, (vii) securities issued by asset-backed and similar securitization vehicles (including, without limitation, collateralized bond obligations, mortgage-backed securitizations, credit-linked notes, and small business loan pool certificates), (viii) synthetic investments, such as significant risk transfer securities and credit risk transfer securities issued by banks or other financial institutions, and (ix) derivative instruments on any of the foregoing. Depending on an Account’s particular investment mandate, Eagle Point may also provide investment advisory services with respect to other types of investments. Eagle Point’s investment strategies are described further under “Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss.” Generally Applicable Investment Terms Eagle Point provides investment advice to each Account using the strategy and investment restrictions applicable to that Account as outlined in the applicable investment advisory agreement or, in the case of the Private Funds and Registered Funds, a fund’s applicable disclosure documents. In the case of the Private Funds and the Registered Funds, Eagle Point does not tailor its advisory services to the individual investment objectives and strategies of the underlying investors, limited partners or shareholders. An investment in a Private Fund or a Registered Fund does not, in and of itself, create an advisory relationship between the investor

and Eagle Point, although Eagle Point may enter into separate advisory arrangements with any such investor pursuant to a separately executed investment advisory agreement. Therefore, each investor must consider for itself whether a Private Fund or a Registered Fund meets the investor’s investment objectives and risk tolerance before investing. Each Private Fund imposes certain terms and conditions on investments which may include minimum investment requirements and restrictions on liquidity and withdrawal rights, such as lock-ups, gates, and notice and periodicity requirements, all as set forth in a Private Fund’s Governing Documents. In addition, separately managed accounts, which are separately negotiated with individual clients, may be subject to terms and conditions similar to those described above as set forth in the applicable investment advisory agreement. Variation of Investment Terms Eagle Point and its affiliates (including each general partner of a Private Fund (each, a “General Partner”)) are not restricted from entering into, and have and may enter into from time to time, separate agreements, commonly referred to as “side letters,” or other similar agreements or arrangements with a particular limited partner of a Private Fund in connection with such limited partner’s admission to a Private Fund (or otherwise) without the approval of any other limited partner. These agreements generally have the effect of establishing rights under, or supplementing the terms of, a Private Fund’s partnership agreement with respect to that limited partner in a manner more favorable than those applicable to other limited partners. The rights or terms in any such side letter or other similar agreement may include, without limitation (1) reporting obligations of the General Partner and other information concerning the applicable Private Fund, (2) waiver of certain confidentiality obligations, (3) reduction of fees applicable to such limited partner and/or performance allocations made with respect to such limited partners, (4) waiver of certain restrictions on the ability of the limited partner to withdraw all or part of its investment, (5) consent of the General Partner to certain transfers by the limited partner, (6) rights or terms necessary in light of particular legal, regulatory or public policy characteristics of a limited partner, (7) rights to participate in certain limited partner advisory committees or sub-committees thereof, (8) the ability to co-invest alongside a Private Fund in certain underlying investments, or (9) rights to participate in certain strategic transactions or other investment opportunities alongside Eagle Point. Certain limited partners that have the benefits of a “most favored nation” provision are given the opportunity to elect the rights and terms in any side letter or other similar agreement that are applicable to other limited partners. As a result, some investors are expected to have more favorable investment terms, including those relating to fees, information and liquidity, than others. If Eagle Point were to grant increased liquidity to an investor, particularly where such an agreement is accompanied by enhanced information about a Private Fund’s operations or investments (often referred to as “transparency rights”), other investors could be disadvantaged. Eagle Point, in its sole discretion, may offer more favorable terms (e.g., lower investment minimums or reduced or eliminated fees) to its personnel, related persons or others, including with respect to dedicated vehicles that invest in or alongside a Private Fund. Similarly, one or more separately managed accounts or Private Funds managed by Eagle Point that pursue the same or a substantially similar strategy as other Private Funds or other separately managed accounts generally have different terms, including different fee arrangements, liquidity terms, reporting requirements and/or other terms similar to those described above, than the relevant Private Fund or other similarly situated Accounts. Designated Investments From time to time, a Private Fund may be invested, directly or through a special purpose vehicle, in assets that are illiquid or otherwise difficult to value. The Firm may determine to segregate such investments from the Private Fund’s main portfolio through the use of “designated investments,” or “side pockets.” For fee purposes, that portion of an investor’s capital account attributable to assets committed to a designated investment are assessed fees at the rate and timing as set forth in the applicable Private Fund’s Governing Documents. Management of Client Assets As of December 31, 2022, Eagle Point had approximately $7.5 billion in discretionary client assets under management, inclusive of unfunded capital commitments made to the Accounts and assets managed by its affiliate, Eagle Point Income Management LLC (and exclusive of any feeder funds’ investment into a master fund so as to avoid double counting of assets). About this Brochure Eagle Point provides this Brochure to current or certain prospective clients of Eagle Point. Eagle Point may also provide this Brochure to current or certain prospective investors in a Private Fund, together with a Private Fund’s confidential offering memorandum, organizational documents and other related documents (collectively, “Governing Documents”), prior to or in connection with such person’s consideration or execution of an investment in a Private Fund. Investors and other recipients should be aware that while the Brochure may include information about specific investment vehicles advised by Eagle Point, the Brochure should not be considered to represent a complete discussion of the features, risks or conflicts associated with any particular vehicle. More complete information about each Private Fund is included in the Private Fund’s Governing Documents, which may be provided to current and eligible prospective investors only by Eagle Point or another authorized party. In addition, more complete information about each Registered Fund, including its filings with the SEC, is available on such Registered Fund’s website (as applicable) and on the SEC’s website at http://www.sec.gov. In no event should this Brochure be considered to be an offer of interests in a Private Fund, a Registered Fund or otherwise relied upon in determining to invest in any security. It is also not an offer of, or agreement to provide, advisory services directly to any recipient. Rather, this Brochure is designed to provide information about Eagle Point for the purpose of compliance with Eagle Point’s obligations under the U.S. Investment Advisers Act of 1940, as amended (the “Advisers Act”). Accordingly, the Brochure responds to relevant regulatory requirements under the Advisers Act, which may differ from the information provided in a Private Fund’s Governing Documents or otherwise required to be provided in relation to a Registered Fund. To the extent that there is any conflict between discussions herein and similar or related discussions in any Governing Document or filing in respect of a Registered Fund, the Governing Document or applicable filing shall govern. Eagle Point does not currently participate in any Wrap Fee Programs.