C.M. Capital is a fee-only SEC-registered investment adviser with its principal place of business located in Palo Alto, CA. Although C.M. Capital is a registered investment adviser, registration itself does not require and should not be interpreted to imply any particular level of skill or training. C.M. Capital is a wholly owned subsidiary of C.M. Capital Corporation, and has been in business since 2008. C.M. Capital Corporation is a wholly owned subsidiary of C.M. Capital (DE) Inc. which is wholly owned by Alphamill Trust whose Trustee is Alphamill Limited. Assets Under Management Discretionary assets under our firm’s management were $430,876,553 as of December 31, 2023. Non-discretionary assets under our firm’s management were $1,722,726,732 as of December 31, 2023. Investment Management Services C.M. Capital provides investment management services on both a discretionary and non- discretionary basis primarily to two private investment funds: (i) the C.M.C. Absolute Return Fund, L.P. (including each of its respective feeder funds, as described below); and (ii) the CMC Master Fund, LP (hereinafter collectively, “the Funds”). C.M. Capital may in the future manage separate accounts and/or create and offer new investment funds. The Funds’ investment objectives (as described in greater detail below) are achieved principally through the allocation of assets to independent investment managers and/or investments in pooled investment vehicles managed by independent investment managers (commonly referred to as a “fund of funds” strategy). The C.M.C. Absolute Return Fund, L.P. The C.M.C. Absolute Return Fund, L.P. (the “Absolute Return Fund”) is a limited partnership formed in the Cayman Islands. The Absolute Return Fund is a master fund in a master-feeder arrangement which includes the following feeder funds: C.M.C. Domestic AR Feeder, L.P., a Delaware limited partnership (the “Domestic Feeder”) and C.M.C. Offshore AR Feeder, L.P., a Cayman Islands limited partnership (the “Offshore Feeder”). The Domestic Feeder and the Offshore Feeder invest all or substantially all of their assets in, and conduct their investment activities through, the Absolute Return Fund. The Absolute Return Fund invests in a diversified portfolio of hedge funds, with a focus on long-term returns. C.M. Capital is the Fund Manager for this investment vehicle and is also the owner of the General Partner of the Absolute Return Fund and its associated feeder funds. As Fund Manager and owner of the General Partner, C.M. Capital is responsible for finding and selecting investment opportunities with unaffiliated third- party separate account investment managers. C.M. Capital’s selection of investment managers for the Absolute Return Fund is done on a discretionary basis. The CMC Master Fund, LP The CMC Master Fund, LP (the “Master Fund”) is a Delaware limited partnership. The Master Fund invests in a multi-asset class portfolio composed primarily of investment vehicles managed by independent third party investment managers. The Master Fund is not open for investment by any unaffiliated third-party investors; it is an investment fund created and maintained only for the benefit of one private family. C.M. Capital is the Fund Manager for this investment vehicle, and is responsible for recommending investments with unaffiliated investment managers to the General Partner of the Master Fund. C.M. Capital’s final selection of investment managers for the Master Fund is done on a non-discretionary basis. The Funds are not required to register under the Securities Act of 1933 or the Investment Company Act of 1940 in reliance upon certain exemptions available to issuers whose securities are not publicly offered. We manage the Funds in accordance with the terms and conditions of each Fund's offering and organizational documents. Each of the Funds is a “fund

of funds” and, as a result of this investment approach, we generally do not directly buy or sell any security for the Funds except for interests in the underlying funds or as a result of an in-kind distribution from the underlying funds. Each Fund is governed by a limited partnership agreement or similar document (as applicable) that sets forth the specific investment guidelines and restrictions applicable to each Fund (the “Governing Documents”). In addition, investors in each Fund are provided with offering documents prior to their investment, which also contain information regarding the intended investment program for such Fund. In acting as the Fund Manager, and as a fiduciary to our clients, all recommendations and investment decisions are made independently and objectively and are based exclusively on the suitability of a given selection in terms of its risk-reward profile in accordance with the organizational and offering documents of each fund. All selected managers generally must either have historically demonstrated a specialized expertise in a given investment strategy and a consistent, repeatable investment process or we have investigated the fund manager and are satisfied that such manager does have expertise and skill in a given investment strategy and a satisfactory back office. Our independent third party manager search and selection process is the result of extensive internal research and a proprietary due diligence process. The process encompasses a comprehensive review of both historical performance data and underlying quantitative analytics as well as in-depth reviews of qualitative measures including such things as ownership, investment philosophy, staffing, back office competence, acceptable vendors, compliance, code of ethics, risk management, policy and procedures and trading efficiencies. C.M. Capital will determine whether a potential manager's portfolio management style is appropriate for each Fund. Factors considered in making this determination include account size, risk tolerance and the investment philosophy of the selected third-party manager. As part of the selection process, we review each third-party manager’s disclosure document(s) regarding the particular characteristics of any program and managers selected by us. C.M. Capital will regularly and continuously monitor the performance of the selected manager(s). For the Absolute Return Fund, for which we have discretionary authority, if we determine that a given third party investment manager(s) is not meeting our agreed upon management expectations, we will terminate the investment manager(s) and place the client's assets with another suitable investment manager(s) at our discretion and without prior consent from the client. For the Master Fund, for which our firm does not have discretionary authority, if we believe that a particular manager is performing inadequately, or if we believe that a different manager may be more suitable for the client's particular needs, then we may recommend that the general partner of the Master Fund contract with another third-party manager. Under this scenario, we will select and recommend to the general partner of the Master Fund a new manager, and upon approval by the general partner of the Master Fund, invest with that new manager and monitor that manager’s performance. However, any move to a new manager for the Master Fund is solely at the discretion of the client. ADDITIONAL CONSIDERATIONS: The information provided herein merely summarizes the detailed information provided in each Fund’s offering and organizational documents. Prospective investors in any one or more of the Funds should be aware of additional risks and requirements associated with investment. Prospective investors should refer to the appropriate Fund offering and organizational documents for important additional information and considerations.