ADVISORY BUSINESS Seer Capital Management LP (“Seer Capital” or the “Firm”), a Delaware USA limited partnership, is a diversified, credit-focused investment firm founded by Philip Weingord in 2008 that primarily invests in structured credit and loans. Seer Capital allocates capital opportunistically across all major asset classes in the U.S. and Europe, including residential and commercial mortgages, syndicated and small balance commercial loans, and a variety of consumer loans (auto, credit card, student, housing). Its investment team combines highly granular fundamental credit analysis with rigorous, data-intensive modeling and broad market access to source global credit investments. These investments are executed through direct lending, purchase and securitization of whole loans, and active trading in both legacy and new issue securitizations. Seer Capital is based in New York and owned by Philip Weingord, members of his family, and trusts affiliated with him and members of his family. Seer Capital Holdings LLC, a Delaware limited liability company controlled by Philip Weingord, is the general partner of Seer Capital. Seer Capital registered with the SEC in December 2009 as an Investment Adviser, as such term is defined in the Investment Advisers Act of 1940, as amended from time to time (the “Advisers Act”). Seer Capital serves as the investment manager or investment advisor with discretionary trading authority for discretionary separate accounts generally for institutional clients and the following private investment vehicles:
• Seer Capital Partners Fund L.P., a Cayman Islands exempted limited partnership;
• Seer Capital Partners Offshore Fund Ltd., a Cayman Islands exempted company;
• Seer Capital Partners Offshore Fund II Ltd., a Cayman Islands exempted company;
• Seer Capital Partners Shares Ltd., a Cayman Islands exempted company;
• Seer Capital Partners Master Fund L.P., a Cayman Islands exempted limited partnership;
• Seer Capital Opportunities Fund I Trust I, a Cayman Islands trust;
• Seer Capital Opportunities Fund I Trust II, a Cayman Islands trust;
• Seer Capital Opportunities Fund I Trust III, a Cayman Islands trust;
• Seer Capital Opportunities Fund I (Cayman) Intermediate Investment Vehicle Ltd., a Cayman Islands exempted company;
• Seer Capital Opportunities Fund I Master Fund I L.P., a Cayman Islands limited partnership;
• Seer Capital Special Situations Master Fund II, Ltd., a Cayman Islands exempted company;
• Seer Capital Special Situations Fund II, LP, a Cayman Islands limited partnership.
• Seer Capital Commercial Real Estate Debt Fund II Ltd., a Cayman Islands exempted company; and
• Seer Capital Commercial Real Estate Debt Fund II Trust, a Cayman Islands trust. Additionally, Seer Capital has established an advisory relationship with its affiliate Locam S.p.A. (“Locam”), an Italian-based loan servicer that specializes in the evaluation, acquisition and

collection of non-performing secured and unsecured consumer and commercial loans, and as a result is able to assist with the valuation of securities backed by such loans. Locam is fully owned by the Seer Capital Opportunities Fund I Master Fund I, L.P. and the Seer Capital Partners Master Fund, L.P., and is deemed a Relying Adviser of Seer Capital, as defined in the SEC Staff Letter dated December 5, 2005. A number of clients managed by Seer Capital invest in securities backed by Italian non-performing loan pools serviced by Locam. Seer Capital also serves as a sub-adviser to a number of private funds which are advised by investment advisers registered with the SEC. As used herein, the term “client” generally refers to each such private investment vehicle and each separate account. The advice Seer Capital provides to its clients is tailored according to the investment objectives, guidelines and requirements set forth: (i) with respect to each private investment vehicle, in its respective offering memorandum or corresponding document (each, a “Memorandum”); and (ii) with respect to each separate account, in each corresponding client’s investment management agreement, as well as any instructions provided by such client to Seer Capital. The specifications of Seer Capital’s investment authority and obligations in respect of each of its management and advisory assignments are set forth in the investment management agreement or investment advisory agreement related to each separate assignment. Certain clients may impose restrictions on certain types of investments or investment strategies. Interests in a private investment vehicle managed or advised by Seer Capital that is domiciled within the United States are offered on a private placement basis pursuant to Section 3(c)(7) of the Investment Company Act of 1940 to persons who are “accredited investors” as defined under the Securities Act of 1933 and “qualified purchasers” under the Investment Company Act of 1940, subject to certain conditions set forth in the Memorandum for such private investment vehicle. Shares or interests in a private investment vehicle managed or advised by Seer Capital that is not domiciled within the United States are also offered on a private placement basis pursuant to Section 3(c)(7) of the Investment Company Act of 1940. These shares or interests may be offered to U.S. persons who are “accredited investors” and “qualified purchasers,” subject to certain conditions set forth in the offering documents for such private investment vehicle. Shares or interests in such private investment vehicles may also be offered to persons who are not “U.S. Persons” as defined under Regulation S of the Securities Act of 1933 so long as they meet the conditions set forth in the offering documents for such private investment vehicle. As of December 31, 2023, Seer Capital had approximately $628.0 million of client regulatory assets under management, of which approximately $579.9 million is managed on a discretionary basis.