Global Partnerships (“GP”), a Washington nonprofit corporation, is an impact-first investment adviser whose mission is to expand opportunity for people living in poverty in developing countries around the world. Funds (as defined below) managed by GP invest in partners that deliver sustainable solutions to poverty which empower impoverished people to earn a living and improve their lives. GP’s “impact-first” Fund investments are aimed at achieving social impact, while seeking to preserve capital for Fund investors. GP’s impact-first investing is designed to achieve social impact on four dimensions:
• Broaden Opportunity –across different facets of poverty including, but not limited to, economic opportunity, education, energy, health, housing, sanitation, and water.
• Deepen Inclusion of poorer and underserved people, including women and the rural poor.
• Serve Millions through sustainable and scalable solutions that can positively impact the lives of millions of people.
• Improve Lives by empowering people to earn a living and meet their basic needs. GP was formed in 2002 as a Washington nonprofit corporation. In 2003, the Internal Revenue Service of the United States issued its determination that GP was exempt from federal income taxation as an organization described in Section 501(c)(3), and subsequently in 2007, issued a determination that GP would be classified as a public charity pursuant to Internal Revenue Code Section 170(b)(1)(A)(vi). At the time of its formation in 2002, GP assumed the charitable activities and operations of a pre-existing entity called the Global Partnerships Foundation. The Global Partnerships Foundation was originally formed in 1993, and in 1994 it was recognized by the Internal Revenue Service as a Section 501(c)(3) organization classified as a private foundation. As a Washington nonprofit corporation, GP does not have any shareholders. GP provides discretionary investment advisory services to the following seven privately offered pooled investment vehicles (each a “Fund” or “Client” and collectively, the “Funds” or the “Clients”):
• Global Partnerships Social Investment Fund 5.0, LLC (“Fund 5.0”);
• Global Partnerships Social Investment Fund 6.0 LLC (“Fund 6.0”);
• Global Partnerships/Eleos Social Venture Fund, LLC (the “SVF Fund”);
• Global Partnerships Impact-First Development Fund, LLC (the “IFDF Fund”);
• Global Partnerships Impact-First Growth Fund, LLC (the “IFGF Fund”);
• Global Partnerships Impact-First Fund 9, LLC (the “IFF 9 Fund”); and
• Global Partnerships Impact-First Fund 10, LLC (the “IFF 10 Fund”). As of August 31, 2023, GP managed a total of approximately US $206,300,000 in aggregate of assets (including drawn and undrawn-but-committed capital) on a discretionary basis on behalf of the above-listed seven Clients collectively. Fund 5.0 is in the process of winding up, with no current or planned future investment activity. Fund 5.0 made loans to social enterprises, including microfinance institutions, microfinance institution networks, cooperatives, credit unions, global development non-governmental organizations, agricultural enterprises, and other businesses with a social impact objective that require working capital to deliver financing, products, and/or services to households living in poverty, with each social enterprise borrower evaluated based on social impact. The geographic focus of Fund 5.0 was Latin America and the Caribbean. Fund 6.0 makes loans to social enterprises, including microfinance institutions, microfinance institution networks, cooperatives, credit unions, global development non-governmental organizations, agricultural enterprises, and other businesses with a social impact objective that require working capital to deliver financing, products, and/or services to households living in poverty, with each social enterprise borrower evaluated based on social impact. The geographic focus of Fund 6.0 is Sub-Saharan Africa, Latin America, and the Caribbean. The SVF Fund makes early-stage investments with the intention to expand opportunity for people living in poverty, with a focus on social enterprises that seek to deliver products and services to impoverished households in Eastern Africa.

The SVF Fund investments may be debt or equity, including, but not limited to, convertible debt, preferred equity, revenue-based securities, and demand dividend securities. As of August 31, 2023, the SVF Fund has made investments in convertible debt and preferred equity. The IFDF Fund makes loans to social enterprises, including microfinance institutions, microfinance institution networks, cooperatives, credit unions, global development non-governmental organizations, agricultural enterprises, and other businesses with a social impact objective that require working capital to deliver financing, products, and/or services to households living in poverty, with each social enterprise borrower evaluated based on social impact. The geographic focus of the IFDF Fund is Sub-Saharan Africa, Latin America, and the Caribbean. The IFDF Fund may also invest up to 10% of its capital in Asia, subject to certain limitations on the type of social enterprise investee. The IFGF Fund makes loans to social enterprises, including microfinance institutions, microfinance institution networks, cooperatives, credit unions, global development non-governmental organizations, agricultural enterprises, and other businesses with a social impact objective that require working capital to deliver financing, products, and/or services to households living in poverty, with each social enterprise borrower evaluated based on social impact. The geographic focus of the IFGF Fund is Sub-Saharan Africa, Latin America, the Caribbean, and Asia (subject to certain limitations on the amount invested and the type of social enterprise investee in Asia). The IFF 9 Fund makes loans to social enterprises, including microfinance institutions, microfinance institution networks, cooperatives, credit unions, global development non-governmental organizations, agricultural enterprises, and other businesses with a social impact objective that require working capital to deliver financing, products, and/or services to households living in poverty, with each social enterprise borrower evaluated based on social impact. The geographic focus of the IFF 9 Fund is Africa, Latin America, the Caribbean, and Asia, as well as other non-U.S. locations with concentrations of people living in poverty. As of August 31, 2023, the IFF 9 Fund has not yet made any loans to social enterprises. The IFF 10 Fund makes loans to social enterprises, including microfinance institutions, microfinance institution networks, cooperatives, credit unions, global development non- governmental organizations, agricultural enterprises, and other businesses with a social impact objective that require working capital to deliver financing, products, and/or services to households living in poverty, with each social enterprise borrower evaluated based on social impact. The geographic focus of the IFF 10 Fund is Africa, Latin America, the Caribbean, and Asia, as well as other non-U.S. locations with concentrations of people living in poverty. As of August 31, 2023, the IFF 10 Fund has not yet made any loans to social enterprises. GP wholly owns, and is the sole equity holder of, GP Fund Management, LLC. GP also wholly-owns, and is the sole equity holder of, each of the Funds. GP Fund Management, LLC has entered into a Management Agreement with each of the Funds. GP Fund Management, LLC has also entered into an Investment Advisory Services Agreement with GP, pursuant to which GP Fund Management, LLC has delegated to GP responsibility for providing advisory services to the Funds. Personnel providing the advisory services to the Funds are employees of GP. There are two investment committees of GP that make investment decisions on behalf of the Board of Directors of GP with respect to investments by the Funds. The Investment Committee of the Board of Directors makes decisions with respect to investments by Fund 5.0, Fund 6.0, the IFDF Fund, the IFGF Fund, the IFF 9 Fund, and the IFF 10 Fund. The Social Venture Committee of the Board of Directors makes investment decisions on behalf of the Board of Directors of GP with respect to the SVF Fund and certain investments made directly by GP to early stage social enterprises. In each case, personnel of GP prepare the materials and make recommendations to the applicable committee.