StepStone Group Private Debt LLC (the “Adviser”) is a Delaware limited liability company formed in 2022. The Adviser is a wholly owned subsidiary of Swiss Capital Alternative Investments AG (“SCAI”) (CRD Number 301039), a Swiss corporation that was formed in 1998 and is based in Zurich, Switzerland. SCAI is indirectly owned by StepStone Group Inc., a public company listed on the NASDAQ (NASDAQ: STEP). As a result, StepStone Group Inc. has an indirect economic interest in the Adviser. The Adviser is a discretionary or non-discretionary investment manager to institutional entities and pooled investment vehicles worldwide, primarily with respect to investments in private debt. For example, the Adviser sponsors and advises private debt funds with a variety of investment strategies. The Adviser acts as the investment adviser to a privately-offered, non-diversified closed-end management investment company that is treated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (“1940 Act”), named StepStone Private Credit Fund LLC (“Private Credit BDC”). As Private Credit BDC’s investment adviser, the Adviser is responsible for the overall management of the BDC’s activities and provides the BDC with investment advisory services. The Adviser also acts as investment adviser to one or more Feeder Funds (defined below) that invest in Private Credit BDC. The Feeder Funds investing in the BDC invest all or substantially all of their investable assets in the common shares issued by the BDC. Each of the Private Credit BDC, Feeder Fund, and any institution or investment vehicle to which the Adviser provides investment advisory services is referred to as a “Client” and collectively, the “Clients”. The Adviser also plans to sponsor and advise private markets funds that typically acquire non- publicly traded interests that may be held for extended periods of time. These securities will be acquired through co-investments in various types of transactions, including equity investments, restructurings, or through investment in debt and preferred equity instruments (“Direct Investments”). These securities may take the form of common equity, preferred equity, debt or other similar instruments. The capital provided by the investments may be used in the early, intermediate or late stages of an investment. We refer to these private markets vehicles as “Direct Investment Funds.” The Adviser also plans to sponsor and advise private markets funds that typically focus on recapitalizing or acquiring interests in investment vehicles. These securities may take the form of common equity, preferred equity, debt or other similar instruments, and these private markets funds are referred to as “Secondary Funds.” The Adviser will also sponsor and advise private markets funds that will in turn invest in various underlying private markets funds that it selects across all major geographies. We refer to these private markets funds as “Fund of Private Markets Funds.” Institutional clients who wish to retain the Adviser as investment manager to invest in private markets funds, Direct Investment Funds or Secondary Funds may acquire a membership or limited partnership interest in a limited liability company or limited partnership vehicle (a “Bespoke

Fund”). The funds (via secondary acquisitions or primary commitments) or direct investment opportunities in which the Bespoke Funds invest, would be selected by the Adviser in light of the Clients’ objectives and restrictions. The Adviser also intends to sponsor and advise private markets funds in which substantially all of the assets of the fund are invested in a designated fund. We also refer to these private markets funds as “Feeder Funds.” Except as otherwise provided in the Governing Documents (as defined below) of a Feeder Fund, following the initial investment decision to invest in the underlying fund, the Adviser’s role with respect to a Feeder Fund will essentially be administrative and mechanical, rather than investment advisory in nature, as Adviser will be responsible primarily for effecting the Feeder Fund’s investment in the designated fund as directed by the Feeder Fund’s Governing Documents. The Adviser also provides non-discretionary private markets monitoring and reporting services, to institutional clients (“Monitoring and Reporting clients”). Monitoring and reporting services may include, but would not be limited to, portfolio tracking and monitoring, database development and maintenance for document retention and performance data, portfolio analysis, review and reporting, review of amendments to governing documents, general research and education. The Adviser will tailor its advisory services to the specific investment objectives and restrictions of each of the above-mentioned types of Clients pursuant to the investment guidelines and restrictions set forth in the relevant confidential offering documents, limited partnership or limited liability company agreement, investment advisory contract or other governing documents (collectively, “Governing Documents”) as well as information learned through ongoing discussions with each Client. Investors and prospective investors of each fund Client should refer to all Governing Documents of the applicable fund or contractual relationship for complete information regarding investment objectives and restrictions. There is no assurance that these investment objectives will be achieved. As of April 30, 2023, the Adviser had regulatory assets under management of $38,664,569 managed on a discretionary basis. Resource Sharing Agreement with StepStone Group LP The Adviser has entered into a Resource Sharing Agreement (the “Resource Sharing Agreement”) with StepStone Group LP (“StepStone Group”), an affiliate of Adviser, pursuant to which StepStone Group makes certain personnel and resources available to the Adviser. StepStone Group is a global private markets investment firm focused on providing customized investment solutions, advisory and data services to its Clients. Under the Resource Sharing Agreement, certain designated employees of StepStone Group provide investment advisory, portfolio management and other services to the Adviser and, through the Adviser, to the Adviser’s Clients. StepStone Group also makes available its premises, facilities, and systems to the Adviser in order for the Adviser to conduct its daily operations. In return for personnel provided and services rendered under the Resource Sharing Agreement, the Adviser compensates StepStone Group on a cost-plus basis.