Advisory Business Aurelius Capital Management, LP, a Delaware limited partnership, was formed in April 2005 and provides investment management and certain administrative and managerial services to private investment funds (each, a “Fund”). The Funds include: The Evergreen Funds (1) Aurelius Capital Partners, LP, a Delaware limited partnership (“ACP”); (2) Aurelius Capital Partners II, LP, a Delaware limited partnership (“ACP II”); (3) Aurelius Capital International, Ltd., a Cayman Islands exempted company (“ACI”); (4) Aurelius Capital International II, Ltd., a Cayman Islands exempted company (“ACI II”); and (5) Aurelius Capital Master, Ltd., a Cayman Islands exempted company (“ACI Master” and, together with ACP, ACP II, ACI, ACI II, and their respective affiliates, the “Evergreen Funds”). Each of ACP, ACP II, ACI, and ACI II invests all of its investable assets through a “master- feeder” structure in ACI Master. On February 27, 2023, Aurelius announced that it is winding down its Evergreen Funds in order to focus exclusively on other Aurelius funds. The Drawdown Funds (6) Aurelius Long-Term Opportunities Fund (U.S.), LP, a Delaware limited partnership (“ALTOF U.S.”); (7) Aurelius Long-Term Opportunities Fund (International), LP, a Cayman Islands exempted limited partnership (“ALTOF International”); and (8) Aurelius Long-Term Opportunities Master Fund, LP, a Cayman Islands exempted limited partnership (“ALTOF Master”, and, together with ALTOF U.S. and ALTOF International, AOFII Master, AOFII U.S., AOFII International, and their respective affiliates, the “Drawdown Funds”). Each of ALTOF U.S. and ALTOF International is a feeder funds which invests all of its investable assets through a “master-feeder” structure in ALTOF Master. (9) Aurelius Opportunities Fund (U.S.) II, LP, a Delaware limited partnership (“AOFII U.S.”); (10) Aurelius Opportunities Fund (International) II, LP, a Cayman Islands exempted limited partnership (“AOFII International”); and (11) Aurelius Opportunities Master Fund II, LP, a Cayman Islands exempted limited partnership (“AOFII Master”, and, together with AOFII U.S. and AOFII International, ALTOF Master, ALTOF U.S., ALTOF International, and their respective affiliates, the “Drawdown Funds”). Each of AOFII U.S. and AOFII International is a feeder funds which invests all of its investable assets through a “master-feeder” structure in AOFII Master. Where appropriate, references to the Funds include entities through which the Funds invest. Mr. Mark D. Brodsky is the Chairman of ACM (the “Chairman”) and controls ACM as the senior managing member of its general partner, Aurelius Capital Management GP, LLC, a Delaware limited liability company. Mr. Brodsky also serves as the senior managing member of (i) Aurelius Capital GP, LLC, a Delaware limited liability company, that serves as the general partner of ACP and ACP II; (ii) Aurelius

Long-Term Opportunities GP, LLC, a Delaware limited liability company, that serves as the general partner of ALTOF U.S., ALTOF International and ALTOF Master. Aurelius Capital GP, LLC is also a shareholder of ACI and ACI II; (iii) Aurelius Opportunities GP II, LLC, a Delaware limited liability company, that serves as the general partner of AOFII U.S., AOFII International and AOFII Master. Aurelius Capital GP, LLC is also a shareholder of ACI and ACI II. ACM serves as investment manager or adviser to the Funds, which seek to maximize returns subject to preserving capital and minimizing correlation with the overall financial markets. The Funds are generally referred to as distressed credit and event-driven funds. The Funds’ investments may be concentrated in one or more of the following categories (while not investing in others) based on ACM’s evaluation of the most attractive opportunities:
• entities that are, or face the prospect of becoming, financially stressed or distressed;
• entities undergoing, or facing the prospect of undergoing, significant corporate events;
• investments that may be affected by material legal disputes;
• companies facing material regulatory developments; and
• capital-structure arbitrage. The Funds may invest in all manner of instruments and obligations, including equity and debt securities, bank debt, trade debt, options, contractual and litigation claims, market and sector indices and derivatives. Where appropriate, references herein to securities include other financial instruments invested in by the Funds. ACM manages the assets of each of the Funds in accordance with the terms of the governing documents applicable to each Fund. Investment advice is provided directly to each Fund and not individually to the investors in the Funds. In addition, ACM has the right to enter into agreements, such as side letters, with certain underlying investors of the Funds that may in each case provide for terms of investment that are more favorable than the terms provided to other underlying investors of the Funds. Persons reviewing this Form ADV Part 2A should not construe this as an offering of any of the Funds described herein, which will only be made pursuant to the delivery of an offering memorandum to prospective investors. ACM does not currently participate in wrap fee programs. As of December 31, 2023, ACM’s regulatory assets managed on a discretionary basis on behalf of the Funds were $824 million. Aurelius Capital Management (UK), LLP (“ACM UK”) was established in London, United Kingdom on August 6, 2014, and was authorized by the Financial Conduct Authority (“FCA”) on February 3, 2015. On December 16, 2021, ACM UK applied to cancel its authorization with the FCA. ACM UK is an indirect subsidiary of ACM, a relying adviser of ACM but no longer provides sub-advisory services to ACM and the Funds.