ADVISORY BUSINESS A. General Description of Advisory Firm Kora Management LP (the “Investment Adviser” or “Kora”) is a Delaware limited partnership organized on December 2, 2013. The Investment Adviser serves as the investment adviser to (i) Kora Master Fund LP, a Cayman Islands exempted limited partnership formed on December 6, 2013 (the “KM Master Fund”); (ii) Kora Fund LP, a Delaware limited partnership formed on December 2, 2013 (the “KM Domestic Fund”), which is designed primarily for certain qualified U.S. taxable persons, and which invests all of its investable assets in the KM Master Fund; (iii) Kora Offshore Fund Ltd, a Cayman Islands exempted company formed on December 6, 2013 (the “KM Offshore Fund”), which is designed primarily for certain qualified investors who are not U.S. persons and for certain qualified U.S. tax-exempt investors, and which invests all of its investable assets in the KM Master Fund; (iv) Kora Holdings Fund LP, a Cayman Islands exempted limited partnership formed on December 1, 2017 (the “KH Fund”), which is designed primarily for certain non-U.S. and U.S. qualified investors; (v) Kora Holdings I (D) LLC, a Delaware limited liability company formed on October 23, 2018 (the “KHI Fund”), which is designed primarily for certain qualified U.S. taxable investors; (vi) Kora Holdings I Offshore Fund Ltd, a Cayman Islands exempted company formed on August 1, 2019 (the “KHI Offshore Fund” and together with the KHI Fund, the “KHI Funds”), which is designed primarily for certain qualified investors who are not U.S. persons and for certain qualified U.S. tax-exempt investors, and which invests all of its investable assets in the KHI Fund; (vii) Kora Holdings II (C) LLC, a Cayman Islands limited liability company formed on January 26, 2021 (the “KHII Fund”), which is designed primarily for certain non-U.S. and U.S. qualified investors; and (viii) Kora Holdings III (D) LLC, a Delaware limited liability company formed on September 20, 2021(the “KHIII Fund”), which is designed primarily for certain qualified U.S. taxable investors. We refer to the KM Domestic Fund together with the KM Offshore Fund and any additional feeder funds investing in the KM Fund as the “KM Feeder Funds” and together with the KM Master Fund, the “KM Master-Feeder Funds”. We refer to the KM Master-Feeder Funds, the KH Fund, the KHI Funds, the KHII Fund, and the KHIII Fund as the “Funds,” and each, individually as the context may dictate, a “Fund.” From time to time, we or our affiliates may launch, sponsor, or provide investment advisory services to additional pooled investment vehicles or managed accounts. We refer to the Funds and any such additional pooled investment vehicles and managed accounts, collectively, as our “Client Accounts,” or more generally, with other potential clients, as our “clients.” Kora GP LLC, a Delaware limited liability company formed on December 2, 2013, serves as the general partner of the KM Domestic Fund (the “KM Domestic Fund General Partner”) and Kora GP Ltd, a Cayman Islands exempted company formed on December 6, 2013, serves as the general partner of the KM Master Fund (the “KM Master Fund General Partner”). The KM Domestic Fund General Partner has ultimate responsibility for the management, operation and administration of the KM Domestic Fund and the KM Master Fund General Partner has ultimate responsibility for the management, operation and administration of the KM Master Fund. Kora Holdings Fund GP LLC, a Cayman Islands limited liability company formed on November 30, 2017, serves as the general partner of the KH Fund (the “KH Fund General Partner”). The KH Fund General Partner has ultimate responsibility for the management, operation and administration of the KH Fund. Kora Holdings I GP LLC, a Delaware

limited liability company formed on October 24, 2018, serves as the general partner of the KHI Fund (the “KHI Fund General Partner” and together with the KM Domestic Fund General Partner, the KM Master Fund General Partner, and the KH Fund General Partner, the “Kora General Partners”). The KHI Fund General Partner has ultimate responsibility for the management, operation and administration of the KHI Funds. Kora Holdings II GP LLC, a Cayman Islands limited liability company formed on January 26, 2021, serves as the general partner of the KHII Fund (the “KHII Fund General Partner”). The KHII Fund General Partner has ultimate responsibility for the management, operation and administration of the KHII Fund. Kora Holdings III GP LLC, a Delaware limited liability company formed on September 20, 2021, serves as the general partner of the KHIII Fund (the “KHII Fund General Partner”). The KHIII Fund General Partner has ultimate responsibility for the management, operation and administration of the KHIII Fund. Our principal owners are Nitin Saigal through ownership of Kora NS LLC and Daniel Jacobs through ownership of Kora DJ LLC (the “Principals”). The Principals formed each Kora General Partner for the purpose of serving as the general partner of the respective Fund. Each Kora General Partner is owned (through one or more entities) by the Principals. This brochure is not:
• an offer or agreement to provide advisory services to any person;
• an offer to sell interests (or a solicitation of an offer to purchase interests) in any Fund (as defined below);
• or a complete discussion of the features, risks or conflicts associated with any Fund. The securities of the Funds are offered and sold on a private placement basis under exemptions promulgated under the Securities Act of 1933 and other applicable state, federal or non-U.S. laws. Significant suitability requirements apply to prospective investors in the Funds, including requirements that they be “accredited investors” as defined in Regulation D, “qualified purchasers” as defined in the Investment Company Act, or non-”U.S. Persons” as defined in Regulation S. Persons reviewing this Brochure should not construe this as an offer to sell or a solicitation of an offer to buy the securities of any of the Funds described herein. Any such offer or solicitation will be made only by means of a confidential private placement memorandum. B. Description of Advisory Services As an investment adviser, we provide discretionary investment advisory services for the Client Accounts. For a detailed discussion of our strategies, see Item 8 – “Methods of Analysis, Investment Strategies and Risk of Loss.” Pursuant to our investment advisory agreements with each of the Funds, we provide advisory services and manage client assets in accordance with one or more of our established investment strategies. With respect to other Client Accounts, we will typically provide discretionary advisory services similar to the KM Master-Feeder Funds. In limited circumstances, we may tailor the types of securities or other instruments to be traded on the client’s behalf based upon specific directions provided by such clients in their investment advisory agreements or otherwise. Any restrictions on investing in certain securities, types of securities, or any geographic areas or industry sectors will be specified in the investment advisory agreement with, or offering and organizational documents of, the relevant client. C. Wrap Fee Programs We do not participate in wrap fee programs. D. Assets Under Management As of December 31, 2022, we had approximately $1,192,153,255 regulatory assets under management on a discretionary basis and no assets under management on a non-discretionary basis.