and consistency, and supplements existing disclosures relating to the Adviser’s practices and related potential conflicts, including with respect to “Methods of Analysis, Investment Strategies and Risk of Loss.” The Adviser provides non-discretionary investment advisory services, and reserves the right to provide discretionary investment advisory services, to institutional clients (“Accounts”), and provides discretionary investment advisory services to investment funds privately offered to qualified investors with respect to real estate and real estate-related investments (each a “Fund”, and together with the Accounts, or other vehicles managed or advised by the Adviser or any of their respective affiliates, including for the avoidance of doubt, the Adviser’s relying advisers and their respective affiliates, “Clients”). References to the Adviser herein includes GLP Capital Partners U.S. and its relying adviser, GCP Storage Advisors LP (“GSA”), and their respective affiliates, which are all operated as a single advisory business. GLP Capital Partners U.S. began operations in 2019 and GSA was created in 2022. To the extent the Adviser provides services to one or more Funds, it establishes general partner entities or equivalent governing entities that are affiliated with the Adviser (each, a “General Partner,” and collectively, together with any future affiliated general partner entities, the “General Partners”). Each General Partner is subject to the Advisers Act pursuant to the Adviser’s registration in accordance with SEC guidance. References to the Adviser include the General Partners, unless the context requires otherwise. The Adviser is indirectly wholly owned by GLP Capital Partners Limited (“GLP Capital Partners”), a parent company that emerged from a transaction in July 2022 (the “Transaction”) between the Adviser and the funds management business of GLP Pte. Ltd. (collectively with its affiliates, “GLP”, and the funds management business thereof, “GLP FM”) (see “Other Financial Industry and Affiliations” below). The day-to-day operations of GLP Capital Partners U.S. are managed by its principals,

Adam Berns, Daniel Ward, Steven Crowe, Michelle Li, Britton Leigh, Tom Cherry, Jim Clemo and Erdinc Akil (the “Principals”). At the end of 2023, Alan Yang stepped down as CEO of GLP Capital Partners and is no longer involved in the day-to-day corporate affairs of the Adviser. However, Mr. Yang remains a senior adviser to GLP Capital Partners and a member of its Board of Directors and also participates as a member of the investment committee of GLP Capital Partners U.S. The Adviser has entered into an arms-length agreement with GLP and certain of GLP’s subsidiaries whereby the Adviser agrees to provide certain asset and investment management services, and certain sub-advisory services, to GLP and its subsidiaries. The Adviser’s advisory services to the Accounts are detailed in the applicable investment management agreement or other governing agreements with such institutional clients (“Management Agreements”). The Adviser’s advisory services to any Funds are detailed in the applicable private placement memoranda, operating agreements, investor subscription agreements or other offering documents of such Funds (each, an “Offering Document”, and together with the Management Agreements, the “Governing Documents”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” The Funds or the General Partners generally are expected to enter into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights under, or altering or supplementing the terms (including economic or other terms) of, the Governing Documents with respect to such investors. Even in such cases, investors in the Funds (generally referred to herein as “investors” or “limited partners”) participate in the overall investment program for the applicable Fund and such arrangements generally do not create an adviser-client relationship between the Adviser and any investor. As of December 31, 2023, the Adviser manages $643,963,918.00 in client assets on a non- discretionary basis and $8,731,954,511.64 on a discretionary basis.