A. Description of Firm and Principal Owners JLP Asset Management LLC (“JLP” or the “Firm”), formerly known as Jaguar Listed Property is a registered investment adviser founded in July of 2014. JLP is principally owned by Jan Investments Ltd, a company duly organized and existing under the laws of British Virgin Islands, Astana Partners LP and James E. Rehlaender, its President, and Chief Executive Officer (“CEO”). JLP is headquartered in New York and maintains research office locations in Amsterdam. JLP’s employees may conduct advisory business from temporary locations in certain events as part of the firm’s business continuity plans. B. Description of Advisory Services JLP manages investment portfolios focused on publicly traded equity securities of companies whose business is to own, operate, develop, and manage real estate. The primary emphasis is on real estate investment trusts (“REITs”) and corporations that are principally engaged in the ownership, construction, management, financing, or sale of residential, commercial or industrial real estate. JLP typically invests in the securities of companies operating in North America, Europe, and Asia. JLP provides continuous discretionary and non-discretionary investment advisory services to separately managed accounts, which includes Clients that may be deemed pooled investment vehicles, (“Separate Accounts”), and a commingled investment vehicles (“Private Funds”) (collectively, the “Funds”). C. Tailoring Advisory Services to Individual Needs 1. Separate Accounts For Separate Accounts, JLP provides discretionary and non-discretionary advisory services pursuant to a written Investment Management Agreement (“IMA”), or similar agreement. The terms of an IMA are negotiated between JLP and the account owner/investor (“Client”) to tailor the advisory services to the Client’s specific needs. Negotiated mandates and restrictions are memorialized in the IMA. To the degree it does not create an inability for JLP to manage an account in accordance with its investment style, a Client may impose, among other things, diversification standards, use of a benchmark different from that of the strategy’s standard benchmark, the exclusion of certain securities from the portfolio, and/or other account specific restrictions that are mutually agreed upon at the time the IMA is initially negotiated or periodically renegotiated. A Separate Account Client directly owns the

positions in its Separate Account; therefore, the Client will typically have full, real-time transparency to all transactions and holdings in such account, and may be better able to assess the future prospects of a portfolio that is substantially similar to the portfolios of the other JLP Clients and particularly, the Private Fund. The Client of a Separate Account typically has the right to withdraw all or a portion of its capital from such account on shorter notice and/or with more frequency than the terms applicable to an investment in the Private Funds. JLP does and may continue to advise multiple Separate Accounts. 2. Private Fund For the Private Fund, JLP tailors its advisory services to the terms set forth in a confidential subscription agreement or similar document (“Subscription Agreement”) provided to the private fund investor (private fund investors collectively and Separate Accounts, are referred to as “Clients”). The Private Fund will not generally tailor its advisory services to the individual needs of the individual private fund investors, nor does it generally accept investment restrictions from private fund investors. JLP or an affiliate has and may continue to enter into agreements with certain Clients in the Private Fund (“Side Letters”) that may provide for terms of investment that are more favorable than the terms described in the applicable Subscription Agreement. Such Side Letter terms may include, among other things, capacity rights, liquidity rights, the waiver, reduction, or rebate of management fees, fund expenses, and/or performance fees; the provision of additional information or reports; more favorable transfer rights; or most-favored nation status. When a Client is granted different or additional terms as describe above, such terms (i) will be more favorable than the comparable terms (if any) described in the Subscription Agreement, (ii) need not be offered to any other Client in the Private Fund, absent a requirement to do so, and (iii) need not be communicated to other Clients. In the event of a conflict between a Side Letter and the relevant Subscription Agreement, the terms of the Side Letter with the Client shall control with respect to that Client only. D. Wrap Fee Programs JLP does not participate in wrap fee programs. E. Assets under Management As of December 31, 2023, JLP managed approximately $212,132,857 on a discretionary basis, which is based on unaudited financial data and is subject to change.