Firm Overview Aethon Energy Management LLC, a Delaware limited liability company (“Aethon” or “Investment Manager”), was organized in 2014. Aethon provides investment management and other asset management services to affiliated private pooled investment funds and other investment vehicles with respect to direct and/or indirect investments in oil and natural gas properties and assets, including working interests and net profits interests. Aethon is wholly-owned by Gordon Huddleston (“G. Huddleston”). Aethon provides investment management services to Aethon II-A LP (“Aethon II-A”), Aethon II-C LP (“Aethon II-C”), Aethon II-A CI-I AG LP (“Aethon AG-I”), and Aethon II-A CI-II AG LP (“Aethon AG-II”) (together the “Aethon II Funds”) and Aethon III-A LP (“Aethon III”), which together with the Aethon II Funds are the “Aethon Funds”. Each of the Aethon II Funds invests substantially all of its assets in Aethon United LP, which invests substantially all of its assets in Aethon United BR LP (“Aethon BR” and together with Aethon United LP “Aethon United”). Aethon serves as the asset manager and operator to Aethon United pursuant to a management services agreement. Aethon United ultimately holds all of the portfolio investments of the Aethon II Funds and is jointly owned by the Aethon II Funds and two other sophisticated institutional investors. Aethon III invests substantially all its assets in Aethon III LLC. Aethon serves as the asset manager and operator to Aethon III LLC pursuant to a management services agreement. Aethon III LLC ultimately holds all of the portfolio investments of Aethon III. Aethon III LLC is jointly owned by Aethon III and two other sophisticated institutional investors. Aethon’s investment advice is provided in accordance with the investment objectives and strategies described in the applicable offering and governing documents of the Aethon Funds, and the information in this Brochure is qualified in its entirety by the information set forth in such documents. Aethon does not ultimately control the decisions made at Aethon United and Aethon III LLC, and those decisions may be distinct from decisions that Aethon would make or would have made with respect to those entities. Aethon II GP LP (“Aethon II GP”), an affiliate of Aethon, serves as the general partner of the Aethon II Funds, and Aethon III GP LLC (“Aethon III GP”) serves as the general partner of Aethon III. Aethon II GP and Aethon III GP are referred to herein as the “GPs” or “General Partners”. The General Partners rely on Aethon’s investment adviser registration with respect to any investment advisory activities conducted, instead of separately registering as an investment adviser with the SEC. Except as the context otherwise requires, any reference to “we,” “us,” or “our” in this document includes Aethon and the General

Partners. Aethon United BR GP LLC, also an affiliate of Aethon, serves as the general partner of Aethon United BR. An affiliate of one of the institutional investors serves as the general partner of Aethon United LP. 5 As of December 31, 2023, Aethon had approximately $579 million in gross regulatory assets under management (“RAUM”) for the Aethon Funds, all of which is managed in a discretionary manner. Aethon provides asset management services for Aethon United BR which had gross assets of ~$3,390 million as of that date. Aethon provides asset management services for Aethon III LLC which had gross assets of ~$2,565 million as of that date. Aethon United BR and Aethon III LLC assets are not separately reflected in the Firm’s RAUM. Nature of Aethon’s Clients and Investors The Aethon Funds are Aethon’s “Clients.” Aethon does not have a separate client relationship with investors in the Aethon Funds, which are referred to throughout this Brochure as “Limited Partners” or “Investors.” The Aethon Funds are Delaware limited partnerships that are not registered or required to be registered under the U.S. Investment Company Act of 1940 (the “Investment Company Act”) or the U.S. Securities Act of 1933 (the “Securities Act”) and are privately offered to qualified Investors in the United States and elsewhere. Investors in the Aethon Funds are typically domiciled in the U.S. and Europe and include institutions, endowments and foundations, wealth management firms, high net worth individuals, family offices and other investment entities that are accredited investors and qualified clients. Aethon’s Investment Mandates The Aethon Funds are managed in accordance with the investment objectives, strategies, and guidelines as set forth in the relevant Aethon Fund’s confidential offering memorandum, partnership agreements, organizational documents and other related documents (collectively “Governing Documents”) or investment management agreements, and in all cases investments are selected on the basis of the Client’s investment needs and objectives. The Aethon Funds are not tailored to the individualized needs of any particular Investor, though each Aethon Fund may take into consideration the general characteristics (e.g., tax status) of its target Investors when structuring its operations. An investment in an Aethon Fund does not, in and of itself, create an advisory relationship between the Investor and Aethon, and Aethon typically does not enter into separate advisory arrangements with any Investor. Therefore, each Investor must consider for itself whether any Aethon Fund meets the Investor’s investment objectives and risk tolerance before investing in the Aethon Fund. Information about each Aethon Fund is set forth in its Governing Documents, which will be available to current and eligible prospective Investors only through Aethon or another authorized party. 6