A. General Description of Advisory Firm This Brochure applies to Sculptor Capital and relying advisers Sculptor Capital II LP, Sculptor Real Estate Advisors LP, Sculptor Loan Management LP, Sculptor Capital Management Hong Kong Limited, Sculptor (Shanghai) Overseas Investment Fund Management Co., Ltd., Sculptor Europe Loan Management Limited, Sculptor Capital Management Europe Limited, Sculptor CLO Management LLC, Sculptor Loan Advisors LLC, and Sculptor CLO Advisors LLC (collectively, the “Relying Advisers,” and together with the Adviser, “Sculptor,” or the “Firm”). The Firm was founded in 1994 and is indirectly owned by Rithm Capital Corp. (“RITM”), a publicly traded company listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “RITM,” which acquired the Firm on November 17, 2023. Additionally, limited partners who are principals of the Firm own certain profits interests in the Firm. The Adviser and its Relying Advisers are registered with the SEC as investment advisers pursuant to the Investment Advisers Act of 1940, as amended (the “Advisers Act”). The Adviser and relying adviser Sculptor Capital II LP are registered with the U.S. Commodity Futures Trading Commission (the “CFTC”) under the Commodity Exchange Act of 1936, as amended (the “Commodity Exchange Act”), as commodity pool operators and are also members of the National Futures Association (the “NFA”). Sculptor Capital II LP is also a CFTC-registered commodity trading adviser. Relying advisers Sculptor Capital Management Europe Limited and Sculptor Europe Loan Management Limited are registered with the United Kingdom’s Financial Conduct Authority (the “FCA”). Relying adviser Sculptor Capital Management Hong Kong Limited is registered with the Hong Kong Securities and Futures Commission (the “SFC”). In addition, Sculptor has established Sculptor Advisors LLC, which is a separate registered affiliate adviser providing investment advisory services to Sculptor Diversified Real Estate Income Trust, Inc. (“SDREIT”). SDREIT is an investment vehicle with an investment strategy that overlaps in part with the strategies of current Clients (as defined below). From time to time, the interests of Clients may conflict with those of SDREIT or any other the clients of Sculptor Advisors LLC, or any other affiliate adviser, that may be established in the future (including conflicts similar to those described herein). Since the COVID-19 global pandemic, Sculptor continues to adhere to a work model whereby employees are able to work in-person in the office for a portion of the week and telework for a portion of the week. As of the date of this Brochure, most employees, including the majority of key employees, continue to adhere to a work model where employees come into the office for the majority of the work week. Item 8 sets forth additional information regarding risks posed by COVID-19. B. Description of Advisory Services Sculptor is a global institutional asset management firm that provides investment advice on a discretionary and non-discretionary basis as described in Item 12 below. Sculptor and its affiliates serve as the general partners and management companies for private investment funds or pooled investment vehicles, including funds-of-one (collectively, the “Funds”) and securitized asset funds in the form of collateralized loan obligations (“CLOs”) and other securitized vehicles. The Firm also provides investment advice to investors through a foreign unit trust and/or a separately managed account (each, an “SMA,” and together with the Funds and CLOs/other securitized vehicles, “Clients”), including for institutional investors, such as financial institutions, public and corporate pension funds, endowments, and foundations. The Firm provides investment advice regarding equity securities, convertible securities, debt instruments, options, futures, swaps, other types of derivatives, private securities, loans, structured products, individual real estate assets, aviation assets, multi-property portfolios, joint ventures, public and private real estate-related securities, securities in special purpose acquisition companies (“SPACs”), digital assets and other investments and instruments. In performing investment advisory services for Clients, Sculptor acts as a

fiduciary. Sculptor’s fiduciary duty derives from Section 206 of the Advisers Act and includes an:
• Obligation to disclose all material conflicts of interests to Clients;
• Obligation to disclose if Sculptor Capital, or an affiliate of Sculptor Capital, receives additional compensation from a Client or a third-party as a result of Sculptor’s relationship with a Client;
• Obligation to obtain informed consent before engaging in transactions with Clients for its own account, that of an affiliate, or another Client when acting in an advisory capacity;
• Obligation to treat all advisory clients fairly and equitably over time, and not unfairly advantage one Client to the disadvantage of another over time;
• Obligation to make investment decisions that are suitable and appropriate for Clients and consistent with their investment objectives, goals, and restrictions placed on Sculptor; and
• Obligation to act in what Sculptor reasonably believes to be in each Client’s best interests and, in the event of a conflict of interest, place each Client’s interests before Sculptor’s and its affiliates’ own interests. Throughout this Brochure, Sculptor discloses actual and potential conflicts of interest. The Firm has adopted policies designed to mitigate any conflicts that arise and may arise. We encourage Clients, prospective Clients, and Fund investors to review these policies and inquire directly with Sculptor about them. Sculptor’s conflict policies—and all policies described in this Brochure— are available for review by Clients and Fund investors in the Firm’s offices or on a password- protected website. In addition to such policies, the Firm has established an internal Compliance and Conflicts Committee (the “Conflicts Committee”), which seeks to mitigate certain conflicts by considering and reviewing them to determine appropriate actions, as needed. Further, the offering materials of Sculptor’s Funds identify in additional detail certain conflicts of interest and specific risks that exist or may exist. A copy of the Firm’s Funds’ most current offering materials is available upon request to investors in the Funds, as applicable. To ensure that employees have the information and skills necessary to perform their duties in accordance with all applicable laws, regulations, the terms of the Firm’s Funds’ most current offering materials, and Sculptor’s requirements for the workplace, all Firm employees are required to complete certain annual trainings. Mandatory annual compliance trainings are designed to reinforce our policies and procedures for the handling of material non-public information, conflicts of interest, and employee securities trading. Annual training specifically targeted at ensuring the understanding of, and compliance with, the Foreign Corrupt Practices Act and, as applicable, other foreign anti-corruption laws and regulations is also mandatory. Mandatory annual trainings also cover areas relating to information security and harassment prevention. C. Availability of Customized Services for Clients The Firm generally permits SMA clients to place restrictions on their accounts with respect to: (1) the specific types of investments or asset classes that we will or will not purchase; (2) the nature of the issuers of investments that we will or will not purchase (e.g., specific industries or sectors); (3) the risk profile of instruments we will or will not purchase; or (4) the risk profile of the SMA as a whole. Where the Firm serves as the investment adviser to a Fund, investment objectives, guidelines, and any investment restrictions are described in the relevant offering documents and generally are not tailored to the needs of specific investors in the vehicle, unless the vehicle is structured as a single investor “fund-of-one.” D. Wrap Fee Programs As of the date of this Brochure, the Firm does not currently participate in any wrap fee programs (as defined by the SEC) but may do so in the future. E. Assets Under Management As of May 1, 2024, the Firm and its affiliates managed approximately $31.8 billion in assets on a discretionary basis and no client assets on a non-discretionary basis, including approximately $1.3 billion in aircraft assets under advisement (based on gross asset value).