VWH Capital Management, L.P. (“VWH Capital” or the “Firm”), a Delaware limited partnership, was founded on September 10, 2014 by Vivien Huang, the principal owner of VWH Capital. The Adviser commenced operations as an investment adviser on August 1, 2017 and has been registered with the SEC since that date. VWH Capital is a private investment fund manager focused on investments in U.S. residential non- performing loans (“NPLs"). VWH Capital provides its advisory services to privately offered domestic and offshore investment vehicles, or master funds (the “Master Fund”) or feeder funds (the “Feeder Fund”) in a master feeder fund structure (each vehicle a “Fund” and collectively, the “Fund” or “clients”), pursuant to investment management agreements (“IMAs”) under which VWH Capital is granted investment discretion subject to the policies and restrictions imposed by the relevant IMAs and limited partnership agreements (each, an “LPA”) for each such Fund. Each Fund is formed to pool investment assets of its investors (each a “Limited Partner” and, collectively, “Limited Partners” and the Limited Partners, collectively with the General Partner shall be referred to as the “Partners”) for the purpose of investing in NPLs and other mortgage or credit-related assets or instruments by purchasing such assets from U.S. government or affiliated agencies such as Fannie Mae, Freddie Mac, the Department of Housing and Urban Development, as well as banks and other market participants. In addition to the main investment focus on non-performing loans and other mortgage or credit-related assets or instruments, the Funds may opportunistically invest in other structured fixed-income securities, whole loans and related financial instruments that provide attractive risk-reward attributes. Such investment products include, but not limited to: agency mortgage backed securities, non-agency residential mortgage backed securities, non-performing mortgage backed securities, re-performing mortgage backed securities, commercial real estate loans and commercial mortgage backed securities, asset backed securities or loans (including but not limited to: auto, credit cards, student loans, lease and equipment), collateralized loan obligations, reverse mortgages and reverse mortgage backed securities, qualified mortgage loans

and non- qualified mortgage loans as well as securities backed by such loans, fix and flip loans and securities backed by such loans, GSE credit risk transfer securities, mortgage servicing rights (“MSR”), mortgage originators and mortgage servicers. The Fund may utilize broad variety of financial instruments such as ETFs, derivatives, interest rate swaps and indices for hedging and risk management purposes. The Fund may also invest in short- or long-term U.S. Government obligations, certificates of deposit, commercial paper and other money market instruments, including repurchase agreements with respect to such obligations, to enable the Fund to make investments quickly and to serve as collateral with respect to certain of its investments. If the Firm believes that a defensive position is appropriate because of expected economic or business conditions or the outlook for security prices, or the Firm determines that opportunities for investment are unattractive, then a greater percentage of Fund assets may be invested in such obligations. The Firm may also invest in indexes or ETFs for domestic or international securities to provide reduced long or short market exposure and/or overall risk. The Fund may also engage in securities lending activities. From time to time, in the sole discretion of the Firm, cash balances in the Fund’s brokerage account may be placed in a money market fund. Although the strategy and asset allocation utilized by the Fund are primarily centered on the strategies mentioned above, the Firm intends to follow a flexible approach in order to place the Fund in the best position to capitalize on opportunities in the financial markets. Accordingly, the Firm may employ other strategies and may take advantage of opportunities in diverse asset classes. The Firm tailors its advisory services to each Fund it manages in accordance with the terms of the relevant offering memorandum or mandate for such Fund, as applicable. Investors in the Funds generally cannot obtain services tailored to their individual specific needs. VWH Capital does not participate in, nor does it sponsor, wrap fee programs. VWH Capital had $4,048,173,163 in regulatory assets under management on a discretionary basis as of December 31, 2023. VWH Capital does not manage client assets on a non-discretionary basis.