ADVISORY BUSINESS A. General Description of Advisory Firm. Viking Global Investors LP, a Delaware limited partnership (“VGI”), was founded in 1999. VGI manages the following private investment funds (together with any other fund or vehicle VGI may advise in the future, collectively, the “Funds”): the Viking Global Equities Funds (the “VGE Funds”), long/short hedge funds launched on October 1, 1999; the Viking Long Funds (the “VLF Funds”), long-only funds launched on January 1, 2009; the Viking Global Opportunities Funds (the “Opportunities Hybrid Funds”), public/private hybrid funds launched on January 1, 2015; the Viking Global Opportunities Drawdown Funds (the “Opportunities Drawdown Funds”), private equity funds launched on October 1, 2021; and the Viking Structured Capital Funds (the “Structured Capital Funds”), credit and structured capital funds launched on March 1, 2023. The principal owners of VGI are O. Andreas Halvorsen and David C. Ott. Mr. Halvorsen and Mr. Ott each own interests in VGI directly (as limited partners) and indirectly (as members of Viking Global Partners LLC, a Delaware limited liability company that is the general partner of VGI). B. Description of Advisory Services. 1. Advisory Services. VGI serves as the management company of the Funds. The VGE Funds include (1) Viking Global Equities LP, a Delaware limited partnership, (2) Viking Global Equities II LP, a Delaware limited partnership offered only to VGI’s principals, certain qualified employees, and other VGI-related persons (the “VGE Employee Fund”), and (3) Viking Global Equities III Ltd., a Cayman Islands exempted company. The VGE Employee Fund is classified as an “employees’ security company” pursuant to Section 2(a)(19) of the Investment Company Act of 1940, as amended. In addition, VGI serves as management company to Viking Partners Fund LP, a Delaware limited partnership offered only to VGI’s principals, certain qualified employees, and other VGI-related persons. Viking Global Equities III Ltd. invests substantially all of its assets in VGE III Portfolio Ltd., which, in turn, invests substantially all of its assets in Viking Global Equities Master Ltd. Viking Partners Fund LP invests substantially all of its assets in Viking Global Equities LP, Viking Global Equities II LP, and VGE III Portfolio Ltd. Viking Global Equities LP invests substantially all of its assets in Viking Global Equities Master Ltd. Viking Global Performance LLC, a Delaware limited liability company affiliated with VGI (“Viking Performance”), serves as either the general partner or investment manager to each VGE Fund. The VLF Funds include (1) Viking Long Fund LP, a Delaware limited partnership, (2) Viking Long Fund III Ltd., a Cayman Islands exempted company, and (3) Viking Partners Long Fund LP, a Delaware limited partnership. Viking Long Fund III Ltd. invests substantially all of its assets in Viking Long Fund Intermediate LP, which, in turn, invests substantially all of its assets in Viking Long Fund Master Ltd. Viking Long Fund LP also invests substantially all of its assets in Viking Long Fund Master Ltd. Viking Partners Long Fund LP (which is offered only to VGI’s principals and certain qualified employees and other VGI-related persons) invests substantially all of its assets in Viking Long Fund LP. Viking Long Fund GP LLC, a Delaware limited liability company affiliated with VGI (“VLF GP”), serves as either the general partner or investment manager to each of the VLF Funds. The Opportunities Hybrid Funds include (1) Viking Global Opportunities LP, a Delaware limited partnership and (2) Viking Global Opportunities III LP, a Cayman Islands exempted limited partnership. Viking Global Opportunities III LP typically invests substantially all of its assets in Viking Global Opportunities Intermediate LP, which, in turn, typically invests a substantial portion of its assets in Viking Global Opportunities Master LP, a Cayman Islands exempted limited partnership (the “Hybrid Master Fund”). Viking Global Opportunities LP also typically invests a substantial portion of its assets in the Hybrid Master Fund. The Opportunities Funds may, and from time to time do, make investments other than through the Hybrid Master Fund, including through special purpose vehicles. The Hybrid Master Fund typically invests substantially all of its assets in Viking Global Opportunities Liquid Portfolio Sub-Master LP and Viking Global Opportunities Illiquid Investments Sub- Master LP. Viking Global Opportunities GP LLC (“Hybrid GP”), or its wholly owned subsidiary Viking Global Opportunities Portfolio GP LLC (“Hybrid Portfolio GP”), serves as the general partner of each of the Opportunities Hybrid Funds. The Opportunities Drawdown Funds include (1) Viking Global Opportunities Drawdown (Onshore) LP, a Delaware limited partnership, (2) Viking Global Opportunities Drawdown (Offshore) LP, a Cayman Islands exempted limited partnership, and (3) Viking Global Opportunities Drawdown (Internal) LP, a Delaware limited partnership offered only to VGI’s principals and certain qualified employees and other VGI-related persons (the “Drawdown Employee Fund”), which typically invests substantially all of its assets in Viking Global Opportunities Drawdown (Onshore) LP. Viking Global Opportunities Drawdown GP LLC (“Drawdown GP”) serves as the general partner of the Opportunities Drawdown Funds. The Opportunities Drawdown Funds and the Opportunities Hybrid Funds are referred to herein, collectively, as the “Opportunities Funds.” The Structured Capital Funds include (1) Viking Structured Capital (Onshore) LP, a Delaware limited partnership, (2) Viking Structured (Offshore) LP, a Cayman Islands exempted limited partnership, and (3) Viking Structured Capital (Internal) LP, a Delaware limited partnership offered only to VGI’s principals and certain qualified employees and other VGI-related persons (the “Structured Capital Employee Fund”), which typically invests substantially all of its assets in Viking Structured Capital (Onshore) LP. Viking Structured Capital GP LLC, a Delaware limited liability company affiliated with VGI (“Structured Capital GP”), serves as the general partner of each of the Structured Capital Funds and the Structured Capital Sidecars (as defined below). References to the Structured Capital Funds generally also apply to the Structured Capital Sidecars except as otherwise described in this Brochure or as the context otherwise requires. VGI has and expects to continue to establish investment vehicles, SMAs, or other accounts or arrangements through which one or more persons invest alongside one or more Funds (each, a “Co-Investment Vehicle”). Co-Investment Vehicles can be formed on a transaction-by-transaction basis or to pursue multiple investments (whether on an opportunistic or a systematic basis). For purposes

of this Brochure, where appropriate and as the context permits, references to “Funds” also include any Co-Investment Vehicles. VGI has engaged its affiliates located in the United Kingdom (“UK”) and Hong Kong to provide investment research, analysis, recommendations and advice, and trade execution services.1 VGI and its affiliates assume full responsibility for any and all fees payable to such 1 In addition, a wholly owned subsidiary of each of Viking Performance and VLF GP acts as an administrative general partner of certain Cayman exempted partnership entities with the authority to submit filings in the Cayman Islands. affiliates in connection with their provision of services. Viking Global Investors Europe LLP, the UK affiliate (“Viking Europe”), and Viking Global Hong Kong Limited, the Hong Kong affiliate (“Viking Hong Kong”), typically have discretionary investment authority over a portion of the assets of the Funds. References herein to “VGI” shall be deemed to include Viking Europe and/or Viking Hong Kong where applicable. References herein to “Viking” shall be deemed to include VGI and its affiliates, including Viking Performance, VLF GP, Hybrid GP, Hybrid Portfolio GP, Drawdown GP, and Structured Capital GP. This Brochure generally includes information about VGI and its relationships with its clients and affiliates. While much of this Brochure applies to all such clients and affiliates, certain information included herein applies to specific clients or affiliates only. 2. Investment Strategies and Types of Investments. VGI leverages its core competencies, which include analyzing industry dynamics and business models, evaluating the strength of management teams, and assigning company valuations, to select investments in equity securities and in credit and other financial instruments. VGI typically causes the Funds to invest in companies located around the world that operate in a wide range of industries. The VGE Funds seek to achieve maximum capital appreciation commensurate with reasonable risk. VGI seeks to increase the performance of the VGE Funds while mitigating general market risk by employing a hedged approach, taking short positions as well as long positions. VGI uses leverage to magnify the effects of its investment selections. VGI expects the leverage of the VGE Funds’ equity portfolio, as measured by its “gross exposure”2, generally to remain below 250%. VGI expects that the VGE Funds’ equity portfolio will generally maintain “net exposure”3 below 60%, and, consequently, believes that the performance of the VGE Funds over sustained periods of time will be more a function of investment selection than of movements in broad market averages. Long and short credit positions, which at times comprise a substantial minority of the VGE Funds’ portfolio, may cause the aggregate gross exposure or net exposure of the VGE Funds’ portfolio to exceed these levels. The VLF Funds’ investment program generally replicates the long equity positions held in the VGE Funds’ portfolios. The Opportunities Hybrid Funds’ objective is to maximize risk-adjusted returns by making attractive illiquid and liquid investments in companies that operate in a wide range of industries globally. The Opportunities Hybrid Funds’ illiquid portfolio may include a wide variety of illiquid investments, but has historically been concentrated in private equity investments. The Opportunities Drawdown Funds’ objective is to make risk-adjusted returns by making attractive illiquid investments in companies that operate in a wide range of industries globally. The Opportunities Drawdown Funds will generally pursue the same illiquid investment opportunities as the Opportunities Hybrid Funds. The Structured Capital Funds’ objective is to generate attractive risk-adjusted returns by investing in instruments that VGI believes offer significant upside potential with meaningful downside protection, focusing on primary, structured financings in hybrid, credit, and credit- 2 A Fund’s “gross exposure” is the value of its long positions plus the value of its short positions, if any, divided by the Fund’s net assets (excluding such Fund’s cash and treasuries). For example, if a Fund has net assets of $100 and has long positions valued at $120 and short positions valued at $80, such Fund would have a gross exposure of 200% ([$120+$80] / $100). 3 A Fund’s “net exposure” is the value of its long positions less the value of its short positions, if any, divided by the Fund’s net assets (excluding such Fund’s cash and treasuries). Using the example provided above for the definition of gross exposure, such Fund would have a net exposure of 40% ([$120-$80] / $100). like investments, though the Structured Capital Funds may also make secondary investments in hybrid and credit instruments, including in periods of market dislocation, and may pursue other adjacent opportunities. When an investment is appropriate for the VGE Funds, the VLF Funds, the Structured Capital Funds, and/or the Opportunities Funds, allocations are made as described in Item 6 and Item 11. A more detailed description of the investment strategies pursued and types of investments made by VGI is provided in Item 8. The descriptions set forth in this Brochure of specific advisory services that VGI offers to clients, and investment strategies pursued and investments made by VGI on behalf of its clients, should not be understood to limit in any way VGI’s investment activities. VGI may offer any advisory services, engage in any investment strategy, and make any investment, including any not described in this Brochure, that VGI considers appropriate, subject to each client’s investment objectives and guidelines. C. Availability of Customized Services for Individual Clients. VGI has defined certain investment objectives for the Funds, as set forth in their respective offering memoranda and operative documents, and tailors its advisory services to meet those objectives. VGI is not restricted in the types of financial instruments in which it may invest on behalf of the Funds. However, VGI monitors and manages for the Funds any internal portfolio guidelines (for example, leverage and exposure requirements for internal risk-management purposes). These internal guidelines confer no rights on its clients or investors and impose no additional legal obligations upon VGI. D. Assets Under Management. As of December 31, 2022, VGI managed approximately $37,691,626,351 of client net assets on a discretionary basis and did not manage any client assets on a non-discretionary basis.