ADVISORY BUSINESS A. General Description of Advisory Firm AHL Partners LLP (the “Investment Manager”) is a limited liability partnership which was incorporated in England and Wales in 2012 with its principal place of business in London, England.1 AHL Partners LLP is authorized and regulated by the Financial Conduct Authority in the United Kingdom, and primarily offers investment advisory or sub advisory services to pooled investment vehicles, commodity pools, registered investment companies and institutional separately managed accounts on a discretionary basis. AHL Partners LLP provides discretionary investment advice and/or management services according to the stated investment objectives, restrictions and policies of each client. The managing member of AHL Partners LLP is Man Investments Limited which is ultimately owned by Man Group plc, which is listed on the London Stock Exchange and is a component of the FTSE 250 Index. Man Group plc, through its investment management subsidiaries (collectively, "Man"), is a global alternative investment management business and provides a range of fund products and investment management services for institutional and private investors globally. As of March 31, 2023, Man had approximately $144.7 billion of assets under management.2 AHL Partners LLP has full discretionary advisory investment management authority with respect to investment decisions for U.S. and non-U.S. pooled investment vehicles, including private funds and commodity pools (the "Funds") and managed accounts. AHL Partner LLP’s advice with respect to the Funds is provided in accordance with the investment objectives and guidelines as set forth in the applicable Fund's offering memorandum or the managed account's investment management agreement. AHL Partners LLP may manage a Fund’s assets through separately managed portfolios or through investments in other pooled investment vehicles, which may include pooled investment vehicles managed by AHL Partners LLP. An affiliate of AHL Partners LLP may act as general partner or managing member of such Funds. Proprietary assets of AHL Partners LLP or its affiliates may also be directly or indirectly invested in the Funds. “Funds” include one or more funds that AHL Partners LLP, its affiliates or employees have seeded or invested over 25% of the capital of such Funds. Important information regarding each Fund and managed account, which includes investment objectives, risks, strategy, fees and other material information, including applicable conflicts of interest is contained in each Fund’s offering documents and in each managed account's investment management agreement, as the case may be. 1 The business of AHL Partners LLP was founded in 1987. 2 Man assets under management as stated in the Man Group plc Annual Report include advisory-only assets over which Man has no decision making or trading authority and managed account platform services for which Man provides platform and risk management services but does not provide investment management services. In addition, AHL Partners LLP provides model portfolio recommendation services through separately managed model portfolio arrangements in accordance with client investment guidelines and restrictions as detailed in such client's investment management agreement. AHL Partners LLP does not have decision making or trading authority for such model portfolio recommendation services. As used herein, the term "client" generally refers to each Fund and each beneficial owner of a managed account. Certain affiliated advisory firms are considered to be “Participating Affiliates” of AHL Partners LLP (as that term is used in relief granted by the staff of the Securities and Exchange Commission (“SEC”)) allowing investment advisers registered with the SEC to use portfolio management, research, operations, and trading resources of advisory affiliates and personnel subject to the supervision of an SEC-registered adviser. Professionals from such Participating Affiliates may render portfolio management, research, trading or other related services to AHL Partners LLP clients and/or AHL Partners LLP as affiliated “associated persons” of AHL Partners LLP and are subject

to supervision by AHL Partners LLP. In addition, AHL Partners LLP may provide portfolio management, research, trading or other related services to the Participating Affiliates under separate services agreements. Fees may be paid by and received from the parties under these arrangements. AHL Partners LLP complies with applicable U.S. securities regulations only with respect to its U.S. clients. Man provides a number of centralized functions to AHL Partners LLP, which includes trading, cash management, risk management, operations, middle office accounting, financing, proxy voting, class actions, human resources, facilities, tax, legal, compliance, information technology, among other such services. AHL Partners LLP utilizes research, client servicing, t ra di ng , sales and marketing capabilities of its affiliates in providing services to its clients. In addition, AHL’s affiliates may utilize certain of AHL’s investment management, research and trading services in providing services to their clients. B. Description of Advisory Services Please see Item 8 herein. This Brochure generally includes information about AHL Partners L L P and its relationships with its clients and affiliates. While much of this Brochure applies to all such clients and affiliates, certain information included herein applies to specific clients or affiliates only. Important information regarding each fund and managed account, which includes investment objectives, risks, strategy, fees and other material information, including applicable conflicts of interest regarding relationships with affiliates, is contained in each fund’s offering documents and in each managed account's investment management agreement, as the case may be. C. Availability of Customized Services for Individual Clients AHL Partners LLP’s investment decisions and advice with respect to each Fund are subject to the relevant Fund's investment objectives and guidelines, as set forth in its offering documents. Similarly, AHL Partners LLP’s investment decisions and advice with respect to each managed account are subject to each client's investment objectives and guidelines, as set forth in the client's investment management agreement/trading advisor agreement, as well as any written instructions provided by the client to AHL Partners LLP. An existing Fund may issue multiple classes, sub-classes, tranches, sub-tranches and/or series (or sub-series) of shares or interests, as applicable, in the future (or enter into "side letter" agreements with certain investor(s) that alter, modify or change the terms of the shares or interests, as applicable, held by the investor(s)), which may differ and may be more favourable from the shares or interests, as applicable, currently offered by the Fund in terms of, among other things, performance compensation, management fee, redemption rights (including redemption dates and notice periods), currency denomination, minimum and additional subscription amounts, informational rights and other rights. New classes, sub-classes, tranches, sub-tranches and/or series (or sub-series) of shares or interests, as applicable, may be issued (or "side letter" agreements may be entered into) by a Fund's board of directors and/or managing member, in its sole discretion, on behalf of the Fund, in consultation with AHL Partners LLP, without providing prior notice to, or receiving consent from, existing investors. The terms of such classes, sub- classes, tranches, sub- tranches and/or series (or sub-series) or "side letter" agreements will be determined by the board of directors and/or managing members, in its sole discretion, in consultation with AHL Partners LLP. In general, a Fund will not be required to notify investors upon entering into "side letter" agreements, nor will a Fund be required to offer such additional and/or different rights and/or terms to any or all of the other investors. D. Wrap Fee Programs AHL Partners LLP does not participate in wrap fee programs. E. Assets Under Management AHL Partners LLP manages approximately $56.2 billion in regulatory assets under management on a discretionary basis as of March 31, 2023.