Cayetano Development, LLC (“Cayetano”) is an SEC-registered investment adviser with its principal place of business in Austin, Texas. Cayetano has been in business since 2016, with predecessor entities dating back more than 30 years. The firm’s registration with the SEC does not imply any particular level of skill or training by our firm or employees or that the SEC has endorsed our respective qualifications to provide investment advisory services. Kyndel W. Bennett and Matthew J. Long are current principal owners. Cayetano provides investment management services to Private Equity Funds (hereinafter collectively, "the Funds"). Unlike other types of private funds, such as hedge funds, private equity funds receive unfunded capital commitments from investors during one or more initial fundraising stages, after which the funds are generally closed to new investors. The fund manager will then call on investors to make capital infusions (each a “drawdown”), based on their commitments, to support the Fund’s investments once those investments have been identified and are in the process of being developed. Cayetano manages Private Equity Fund investments in real estate interests. Cayetano develops purchased land into residential lots and markets and sells them to families that would not qualify for conventional bank loans. For each Fund, Cayetano generally performs property identification, track development, marketing, mortgage origination and mortgage servicing functions. Cayetano leverages its industry knowledge and contacts to identify investment opportunities

for the Funds. Cayetano may also identify additional opportunities for similar or different types or levels of equity investments for one Fund in portfolio companies held by other Cayetano Funds or those companies’ affiliates. The investment objective of the Funds is to seek long-term capital appreciation over the course of each Fund’s term, generally twenty years from the final closing, subject to the terms of the specific real estate mortgage notes. The Funds are not required to register under the Securities Act of 1933 or the Investment Company Act of 1940 in reliance upon certain exemptions available to issuers whose securities are not publicly offered. We manage the Funds on a discretionary basis in accordance with the terms and conditions of each Fund's offering and organizational documents. ASSETS: As of December 31, 2023, Cayetano had approximately $ 527 million in discretionary assets under management. Cayetano does not manage any assets on a non- discretionary basis. IMPORTANT ADDITIONAL CONSIDERATIONS: The information provided herein merely summarizes the detailed information provided in each Fund’s offering and organizational documents. Most of the Funds are closed and are not admitting new investors. Current Fund investors and prospective investors in any new Fund launched by Cayetano should be aware of the substantial risks associated with investment as well as the terms applicable to such investment. This and other detailed information is provided in the appropriate Fund offering and organizational documents.