Arena Capital Advisors is a 100% employee owned boutique investment management firm. We specialize in a variety of products, including, high yield fixed income, bank loans, equities, special purpose acquisition companies and private investment in public equities. The investment team has 20 years of experience. Arena is a Delaware limited liability company that commenced operations in December 2013 and is a registered investment adviser with the SEC under the Investment Advisers Act of 1940, as amended. Arena has three founding partners: Jeremy Sagi, Daniel Elperin and Sanije Perrett. Lawrence Post, joining in 2014, holds a small equity stake in Arena. Our leadership team has an average of 25 years of industry experience and has worked together for many years, navigating a variety of market conditions. Arena provides investment management services for a variety of products, including high yield fixed income, bank loans, equities, special purpose acquisition companies and private investment in public equities and non-US investments. Arena may invest in a broad array of securities and reserves the right to pursue other investment strategies. Arena’s services are primarily offered to institutional clients, private investment funds, high net worth individuals, foundations, pension plans, registered investment companies and other fund structures including, but not limited to, UCITS funds. Arena seeks to act as General Partner and/or investment manager to privately offered investment vehicles including but not limited to private funds (“Funds”), investment manager to clients that invest through separately managed accounts (“Managed Accounts”), and investment manager (or sub-adviser) to registered investment funds (“Investment Funds,” and collectively with Funds and Managed Accounts, “client accounts”). Advisory Services Arena provides investment advisory services with respect to one or more Funds, Managed Accounts and/or Investment Funds. Arena also provides

investment advisory services to a registered fund (the "Registered Fund") launched in December 2022 that is registered under the Investment Company Act of 1940, as amended (“Company Act”). In addition, Arena serves (or may in the future serve) as the investment adviser to one or more Funds which are not currently offered to new investors. Aside from their structure, these Funds may be more similar to a Managed Account than a Fund. Arena generally has discretionary authority to manage the client accounts, including the authority to determine which investments are bought and sold and the amounts of such investments that are appropriate for each client. Arena intends to manage its investments in the Funds and/or Investment Funds pursuant to the investment strategy (or strategies) as detailed in the governing documents of the Funds or the Investment Funds, as the case may be. Any limitation on Arena’s authority is described in the Fund or Investment Funds’ governing documents. Prospective investors should carefully read a Fund’s or Investment Funds’ governing documents and consult with their counsel and advisers as to all matters concerning an investment in a Fund or Investment Fund. In addition, Arena manages investments in the Managed Accounts pursuant to the investment strategy (or strategies) detailed in the client’s investment management agreement or other similar documentation. Certain clients may impose restrictions on investing in certain types of securities or other constraints on how they desire Arena to invest their portfolio. Any restrictions or constraints are set forth in the investment management agreement or other similar documentation. Arena may tailor its services to suit a client’s needs and stated investment objectives. As of February 28, 2023, Arena manages approximately $3.4 billion in regulatory assets under management on a discretionary basis and $0 regulatory assets under management on a non- discretionary basis.