Pavadi Capital LLC, a Delaware limited liability company founded in December 2001, (“Pavadi” or the “Investment Manager”) provides administrative and investment advisory services to pooled investment vehicles (the “Pavadi Funds”) and separately managed accounts (the “Pavadi Accounts” and together with Pavadi Funds, the “Funds”). Pavadi is led by Jeffrey S. Edelman and Zachary S. Sharon, M.D. (the “Managing Members” or “Co-Founders”). Jeffrey S. Edelman is a principal of Pavadi Capital LLC, where he leads the finance and operations functions of the firm and co-leads investment strategy design and portfolio management. Previously, Mr. Edelman was a principal at Symphony Capital LLC (“Symphony”), which he co-founded in 2002, acting as a principal in Symphony’s private equity fund and serving as Symphony’s Chief Financial Officer. Prior to co-founding Symphony, Mr. Edelman was a Principal at Wilkerson Partners from 2001 to 2002, after having served as Director of Corporate Strategy at SelfCare from 1999 to 2000 and as a management consultant with L.E.K. Consulting and McKinsey & Company from 1996 to 1998. Mr. Edelman began his career as an investment banker in the healthcare group at Alex. Brown & Sons from 1992 to 1994. Mr. Edelman has more than 25 years of experience as a manager, strategic advisor and investor in the healthcare industry. He received an M.B.A. in Healthcare and Strategic Management from The Wharton School of the University of Pennsylvania in 1996. He received his B.A. in economics with high honors from Dartmouth College in 1992. Mr. Edelman served on the Advisory Council, Investment Committee, and Strategic Planning Committee of Montefiore Medical Center from 2011 to 2021. Zachary S. Sharon, M.D. is a principal of Pavadi Capital LLC, where he leads the business development functions of the firm and co-leads investment strategy design and portfolio management. Previously, Dr. Sharon was a principal at Symphony, which he joined at its inception in 2002, focusing on structuring and monetizing Symphony’s private equity fund investments. Prior to Symphony, Dr. Sharon was an Associate at Wilkerson Partners from 2001 to 2002 where he worked with emerging healthcare companies and their investors. Prior to Wilkerson Partners, Dr. Sharon was a surgery resident at Stanford University Medical Center from 2000 to 2001. Dr. Sharon earned his M.D. as a member of the Alpha Omega Alpha Honor Medical Society at Wayne State University School of Medicine, where he graduated with Highest Distinction in 2000, and he earned his B.S. in biology with Highest Distinction from the University of Michigan in 1996, where he was a junior inductee to Phi Beta Kappa and a James B. Angell Scholar. As of December 31, 2022, Pavadi is the investment manager of $110,970,874 of regulatory assets on a discretionary basis. The Funds include (i) one Pavadi Fund, Pavadi Healthcare Value Long Only Fund LP (the “Pavadi Healthcare Fund”), and (ii) two Pavadi Accounts. In addition, in the future, Pavadi may enter into arrangements under which it will potentially provide discretionary advisory services to other pooled investment vehicles and/or separately managed accounts. Although Pavadi generally invests in U.S.-listed equity securities of companies in the healthcare industry, it has broad and flexible investment authority with respect to the Funds, subject to certain limitations (which differ across the Funds

and are set forth in the Funds’ Governing Documents, as defined below). The investment objective of the Funds is to compound capital by earning superior returns over time via a value-oriented investment strategy focused primarily on U.S.-listed equity securities of companies in the healthcare industry. The healthcare industry may include, but is not limited to, issuers in fields such as health insurance and managed care, healthcare services, hospital management, pharmaceuticals (innovative, specialty and generic), biotechnology, medical devices, medical equipment, diagnostics and other related areas. While the Funds are currently expected to invest predominantly in U.S.-listed equity securities of health care issuers, it should be noted that, subject to certain limitations (which differ across the Funds), there are expected to be no limitations on the types of instruments and markets in which the Funds may invest. Refer to Item 8 for further details. Generally, and in particular with respect to the Pavadi Funds, each Fund’s investment objective and strategy is set forth in a confidential private offering memorandum and/or an investment manager agreement (and any applicable supplements) provided to each investor in the relevant Fund (each, an “Investor” and together with all Funds’ investors, the “Investors”). Such documents, together with the limited partnership agreements, operating agreements and other governing documents of the Funds, are collectively referred to herein as the “Governing Documents.” In providing services to the Pavadi Funds, Pavadi provides investment advice directly to the Pavadi Funds and not individually to the Investors. Pavadi neither tailors the advisory services it provides to the Pavadi Funds to the individual needs of the Investors nor accepts Investor-imposed investment restrictions. When deemed appropriate, and typically for a large or strategic investor, Pavadi may establish one or more additional Pavadi Accounts, which may (i) tailor their investment objectives to those of the specific Investors and/or (ii) be subject to different investment objectives, terms and/or fees than those of other Funds. Such investment objectives, fee arrangements and terms will be individually negotiated, and it should be noted that any such Pavadi Accounts would generally be subject to significant account minimums. The Investment Manager has entered into an arrangement whereby it provides information regarding the Fund’s investment strategy and investment activities to a third party in exchange for a fee paid to the Investment Manager. The third party is itself an investment manager that uses such information, as well as similar information from other managers, to build a quantitatively driven portfolio of its own that it offers to its clients. The third party receives such information in the form of “after the fact” access to the Fund’s trading activity and holdings via a link-up with the Fund’s prime broker. The third party’s portfolio may be comprised in part or solely of some or all of the Fund’s holdings; and the Investment Manager has no control over, or transparency with respect to, the investment activities of the third party. Pavadi does not participate in wrap fee programs. It is critical that Investors and prospective Investors refer to the relevant Fund’s Governing Documents for a complete understanding of the terms and conditions of investments therein.