Radcliffe Capital Management, L.P. (“Radcliffe”) was founded in 2002 as RG Capital Management, L.P. Radcliffe changed its name in June 2007. The principal owners of Radcliffe are Steven B. Katznelson, Chief Investment Officer and Christopher L. Hinkel, Director of Research. Radcliffe provides investment advisory services on a discretionary basis to pooled investment vehicles, including non-U.S. vehicles and to separately managed accounts each offered to institutions and other sophisticated persons who meet the definition of “qualified purchaser” under Section 3(c)(7) of the Investment Company Act of 1940, as amended (each, a “Client”). Radcliffe’s investment strategies are listed below:
• Ultra Short Duration Select Strategy (“Select Strategy”),
• Ultra Short Duration Strategy (“USD Strategy”),
• Short Duration Strategy (“SD Strategy”),
• Specialty Finance Debt Strategy (Business Development Company Debt) (“BDC Strategy”),
• Business Development Company Income Strategy (“BDCI Strategy”), and
• Special Purpose Acquisition Company Strategy (“SPAC Strategy”). The private fund managed by Radcliffe in the Select Strategy is the Radcliffe Ultra Short Duration Select Master Fund, L.P., a Cayman Islands exempted limited partnership (the “Select Master Fund”). The Select Master Fund has two “feeder funds” which invest all of their investable assets in the Select Master Fund: Radcliffe Domestic Ultra Short Duration Select Fund, L.P., a Delaware limited partnership (the “Select Domestic Feeder”), and Radcliffe International Ultra Short Duration Select Fund, Ltd., a Cayman Islands corporation (the “Select International Feeder”). The Select Master Fund and its feeder funds are collectively referred to herein as the “Select Funds.” The private fund managed by Radcliffe in the USD Strategy is the Radcliffe Ultra Short Duration Master Fund, L.P., a Cayman Islands exempted limited partnership (the “USD Master Fund”). The USD Master Fund has two “feeder funds” which invest all of their investable assets in the USD Master Fund: Radcliffe Domestic Ultra Short Duration Fund, L.P., a Delaware limited partnership (the “USD Domestic Feeder”), and Radcliffe International Ultra Short Duration Fund, Ltd., a Cayman Islands corporation (the “USD International Feeder”). The USD Master Fund and its feeder funds are collectively referred to herein as the “USD Funds.” The private fund managed by Radcliffe in the SD Strategy is the Radcliffe Short Duration Fund, L.P., a Delaware limited partnership (the “SD Fund”). The private fund managed by Radcliffe in the BDC Strategy is the Radcliffe BDC Master Fund, L.P., a Cayman Islands exempted limited partnership (the “BDC

Master Fund”). The BDC Master Fund has two “feeder funds” which invest all of their investable assets in the BDC Master Fund: Radcliffe Domestic BDC Fund, L.P., a Delaware limited partnership (the “BDC Domestic Feeder”), and Radcliffe International BDC Fund, Ltd., a Cayman Islands corporation (the “BDC International Feeder”). The BDC Master Fund and its feeder funds are collectively referred to herein as the “BDC Funds.” The private fund managed by Radcliffe in the SPAC Strategy is the Radcliffe SPAC Master Fund, L.P., a Cayman Islands exempted limited partnership (the “SPAC Master Fund”). The SPAC Master Fund has two “feeder funds” which invest all of their investable assets in the SPAC Master Fund: Radcliffe Domestic SPAC Fund, L.P., a Delaware limited partnership (the “SPAC Domestic Feeder”), and Radcliffe International SPAC Fund, Ltd., a Cayman Islands corporation (the “SPAC International Feeder”). The SPAC Master Fund and its feeder funds are collectively referred to herein as the “SPAC Funds.” The private fund managed by Radcliffe in the BDCI Strategy is the Radcliffe BDC Income Master Fund, L.P., a Cayman Islands exempted limited partnership (the “BDCI Master Fund”). The BDCI Master Fund has two “feeder funds” which invest all of their investable assets in the BDCI Master Fund: Radcliffe Domestic BDC Income Fund, L.P., a Delaware limited partnership (the “BDCI Domestic Feeder”), and Radcliffe International BDC Income Fund, Ltd., a Cayman Islands corporation (the “BDCI International Feeder”). The BDCI Master Fund and its feeder funds are collectively referred to herein as the “BDCI Funds.” The Select Funds, the USD Funds, the SD Fund, the BDC Funds, the BDCI Funds and the SPAC Funds are collectively referred to herein as the “Funds.” Radcliffe provides advice based on specific investment objectives and strategies set forth in the offering memorandum, investment management agreement or other applicable governing document. Under certain circumstances, Radcliffe may agree to tailor the advisory services to the needs of a Client in a separately managed account and such Clients may negotiate whether to and the extent to which leverage is to be used, whether to use derivatives or other instruments to hedge, and other types of issuer or portfolio limitations, e.g. concentration limits. Further, Radcliffe may combine components of two or more strategies into one account for a particular Client, as set forth in the Client’s investment management agreement. As of December 31, 2019, Radcliffe managed $3,257,400,000 in regulatory assets under management on a discretionary basis. Radcliffe does not manage any assets on a non-discretionary basis at this time.