General Information BofCal Asset Management Inc. (the “Adviser”, :BAM,” “us”, or “we”) is a North Carolina corporation with its principal place of business in Menlo Park, California. The Adviser also has a place of business in San Diego, California. The Adviser was organized in February 2013. The Adviser’s sole owner is Banc of California, which is owned by Banc of California, Inc. Despite our affiliation with Banc of California, client assets are not bank deposits and are not insured or guaranteed by the FDIC or any other agency. Advisory Services The Adviser’s clients are primarily institutional clients, such as corporations, that hold significant cash balances. The Adviser primarily manages the cash balances of its clients by investing in, without limitation, high credit quality, short maturity fixed income securities. The Adviser also frequently invests client assets in selected money market mutual funds offered by unaffiliated third- parties (“Money Market Funds”). Pursuant to the client’s agreement with the Adviser, the Adviser is authorized to invest in any other securities on behalf of its clients, in its sole discretion. After consulting with each client regarding the client’s investment objectives, the Adviser tailors its advisory services to the client’s stated investment objectives, investment policies, and liquidity needs. Most often, the investment objective of the Adviser’s client is to preserve capital, adhere to specific liquidity requirements, and seek a competitive return relative to an agreed upon performance benchmark. For example, a client that intends to use funding from a lender, venture investor, or equity underwriter for the benefit of the company’s long-term growth and development may also need a portion of the funds for ongoing, short-term expenses, such as payroll or rent. In such cases, the Adviser manages the cash portion of the client’s assets with an investment objective of capital preservation with a competitive risk-adjusted return, while providing liquidity to allow the client to pay its periodic expenses. The Adviser’s clients have a wide range of account sizes, investment objectives, and time horizons. While liquidity, safety, and investment return are central objectives of virtually all clients, for some the principal focus is liquidity and for others it is investment return. For liquidity focused clients, which often include

venture capital or private equity funds with very short investment time horizons, obtaining enough capacity in appropriate and liquid investment instruments is typically of greatest importance. Conversely, for investment return focused clients, which often include corporate accounts with relatively long investment time horizons, obtaining a competitive risk-adjusted investment return is typically of greatest importance. Accordingly, unless the Adviser is otherwise directed in writing, (1) the accounts of Clients who utilize the Adviser’s agreement entitled “Discretionary Account Agreement – Corporate” (the “Corporate Clients”) will be invested in a manner designed to emphasize a competitive risk- adjusted investment return consistent with the applicable Client’s Investment Policy and liquidity needs; and (2) the accounts of Clients who utilize the Adviser’s agreement entitled “Discretionary Account Agreement – Fund” (the “Fund Clients”) will be invested in a manner designed to provide as much capacity as is available in high liquidity investments that are consistent with the applicable Client’s Investment Policy or investment direction, while the investment return achieved on such investments may be of secondary importance. As a result, because of their typically broader Investment Policies, greater investment flexibility and their longer investment time horizons, Corporate Clients often receive increased access to limited-capacity investments with higher returns and obtain superior investment returns relative to Fund Clients. Investment Discretion The Adviser works solely as a discretionary adviser. Each client can place a variety of restrictions on the Adviser’s discretionary investment activity in the client’s account, including restrictions on the term of investments, the types of securities permitted, the credit ratings allowed, and the liquidity of the account. The Adviser’s clients have the ability to change these restrictions upon written notice to the Adviser and such changes are only effective once acknowledged in writing by the Adviser. This ability for a client to change the restrictions on its account allows the Adviser to prudently invest the client’s portfolio pursuant to each client’s specific, and potentially changing, restrictions. Client Assets As of December 31, 2023, the Adviser had approximately $184,026,503.00 in discretionary assets under management.