Advisory Business SVB Asset Management is an investment adviser registered with the U.S. Securities and Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). SVB Asset Management was incorporated in the state of California in April 2002 and became registered as an investment adviser with the SEC in January 2003. SVB Asset Management is a wholly-owned, non-bank subsidiary of First-Citizens Bank & Trust Company (“FCB”), which in turn, is a wholly owned subsidiary of First Citizens BancShares Inc., a publicly traded company (NASDAQ: FCNCA). Previously, SVB Asset Management was owned by Silicon Valley Bridge Bank, N.A. (“SVBB”), a full-service FDIC-operated ‘bridge bank’ chartered by the Office of the Comptroller of the Currency as a national bank, and prior, Silicon Valley Bank (“SVB”), which was closed by the California Department of Financial Protection and Innovation. Upon the closure of SVB, the Federal Deposit Insurance Corporation (the “FDIC”), as the appointed receiver, transferred substantially all of the assets of SVB to SVBB on March 13, 2023. SVB Asset Management’s clients are primarily companies in the innovation economy within the technology and life science/healthcare industries. The technology clients tend to be in the industries of hardware (such as semiconductors, communications, data storage, and electronics); and software and internet (such as infrastructure software, cybersecurity, applications, software services, digital content and advertising technology); and energy and resource innovation. The life science and healthcare clients tend to be in the industries of biotechnology, medical devices, healthcare information technology and healthcare services. SVB

Asset Management’s clients are of various sizes and stages, from venture-backed to publicly held companies. SVB Asset Management provides discretionary investment management services for all clients, managing clients’ portfolios based on their investment policies, strategies, and objectives. The eligible investments SVB Asset Management buys and sells on behalf of its clients are comprised of, but not limited to, government securities, money market instruments, corporate and municipal bonds, structured and mortgage products, repurchase agreements (“repo”), reverse repo, commercial paper, certificates of deposit and other fixed income short duration securities, according to the individual investment policy of the client. SVB Asset Management primarily utilizes the Corporate Cash Management Strategy, the Total Return Strategy, and SAM Access Strategy which are discussed in greater detail in Item 8 (Methods of Analysis, Investment Strategies and Risk of Loss) below. Advisory services are tailored for each client based not only on the investment strategies identified above, but also on the client’s investment policy and objectives, as well as any liquidity needs. Clients may also impose reasonable restrictions or limitations on the securities in which their assets are invested. In order to meet certain strategic investment objectives of a client, SVB Asset Management may invest a client’s assets as specifically directed by the client. However, these non-discretionary, or client-directed arrangements are subject to the acceptance of SVB Asset Management as determined in its sole discretion. As of December 31, 2023, SVB Asset Management managed $32,085,958,361 of client assets on a discretionary basis.