The Organization Silverfern Capital Management, LLC (“SCM”), a Delaware limited liability company formed in 2005, is an investment adviser registered with the United States Securities and Exchange Commission (“SEC”). SCM is a global middle-market, multi-asset class private equity firm with offices in Greenwich, CT, Frankfurt and Sydney. SCM serves as the investment adviser for and provides discretionary investment advisory services to privately offered pooled investment partnerships. SCM is affiliated with two relying advisers: (i) SREP Capital Management, LLC (“SRM”), a Delaware limited liability company formed in 2007 and (ii) Ninety Mile Capital Partners, LLC (“NMCP”), a Delaware limited liability company formed in 2018 (SCM, SRM and NMCP, collectively, the “Managers”). The Managers collectively operate as a single advisory business, each managing and providing investment advisory services solely to private funds that are qualified clients. SCM’s principal office and place of business is in the United States and SRM and NMCP and the persons acting on their behalf are subject to SCM’s supervision and control. The advisory activities of the Managers are each subject to the Investment Advisers Act of 1940, as amended, (“Advisers Act”); and the Managers all operate under a single code of ethics administered by a single chief compliance officer. Principal Owners The Managers are each owned jointly by Clive R. Holmes and Reeta K. Holmes. Mr. Holmes has been the owner of SCM and SRM since its formation, and the indirect owner of each since January 1, 2014. Ms. Holmes has been the indirect owner of each of SCM and SRM since January 1, 2014. Mr. Holmes and Ms. Holmes have been indirect owners of NMCP since March 1, 2018. Mr. Holmes and Ms. Holmes are control persons of the Managers and are related by marriage. For more information about each Manager’s owners and executive officers, see SCM’s Form ADV Part 1, Schedule A and Schedule R. Types of Advisory Services Offered The Managers provide certain management, investment advisory and administrative services to certain single-purpose limited partnerships and separately managed accounts (each a “Silverfern Investment Partnership”, and collectively, the “Silverfern Investment Partnerships”), interests in which are privately placed with accredited investors and qualified purchasers. The interests in the Silverfern Investment Partnerships are exempt from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and the other applicable U.S. federal and state securities laws, “blue sky” laws and other non-U.S. securities laws and regulations in each jurisdiction in which such interests are offered and/or sold. The Managers make investments in 1) private equity (co-control minority, equity and private equity credit) in buyouts, build-ups, acquisitions, growth equity and recapitalizations worldwide, 2) real estate (co-control minority, majority control, equity and preferred equity), and 3) U.S. commercial real estate debt (“U.S. CRE”) (ground-up, new construction, renovations, redevelopments, repositionings, and recapitalization of existing real estate properties). The Managers typically organize Silverfern Investment Partnerships to provide accredited investors and qualified purchasers the opportunity to invest in private equity and real estate alongside certain sophisticated family offices, non-traditional investment partners, leading private equity firms, leading real estate operating partners, institutional real estate owners (each, as applicable, an “Investment Partner”), and in a transaction (or series of related transactions) with respect to a target investment, and

determined by the relevant Manager, in its sole discretion, to be appropriate for the Silverfern Investment Partnership. Currently, the only advisory clients of the Managers are the Silverfern Investment Partnerships. Each Silverfern Investment Partnership is affiliated with a general partner (each a “General Partner”) with authority to make investment decisions on behalf of the Silverfern Investment Partnerships. These General Partners are deemed registered under the Advisers Act, pursuant to SCM’s registration in accordance with SEC guidance. While the General Partners maintain ultimate authority over the respective Silverfern Investment Partnerships, SCM, SRM or NMCP has been designated the role of investment adviser. Each Manager generally provides investment advisory services to each Silverfern Investment Partnership pursuant to a separate investment advisory agreement (each, an “Advisory Agreement”). The terms of the investment advisory services to be provided by the relevant Manager to a Silverfern Investment Partnership, including any specific investment guidelines or restrictions, are set forth in the Advisory Agreement. These guidelines generally include investigating, analyzing, structuring and negotiating potential investments, monitoring the performance of portfolio companies and/or real estate investments, and advising the General Partner of each Silverfern Investment Partnership as to disposition opportunities. These Silverfern Investment Partnerships are organized as either domestic or non-U.S. limited partnerships that are intended to be exempt from registration as investment companies under the Investment Company Act of 1940, as amended (the “Investment Company Act”) in reliance on certain exemptions thereunder. A description of each Silverfern Investment Partnership and the terms of an investment therein is set forth in the confidential offering materials and the applicable limited partnership agreement (or other similar organizational document), side letter agreements and other governing documents (each, a “Governing Document”) for each Silverfern Investment Partnership. Limited partners in the Silverfern Investment Partnerships (“Investors”) participate in the overall investment program for the applicable Silverfern Investment Partnership and generally cannot be excused from a particular investment except pursuant to the terms of the applicable Governing Documents. The relevant Manager or its related entities has entered into side letter agreements with certain Investors in the Silverfern Investment Partnerships, establishing rights under, or supplementing or altering the terms of, the applicable Governing Documents and subscription agreements relating to such Silverfern Investment Partnerships with respect to such Investors’ rights including co-investment preferences, certain fee arrangements, notification provisions, reporting requirements and “most favored nations” provisions, among others; provided, however, that the decision to enter into such side letter agreements will be at the sole discretion of the relevant Manager or its related entities. The relevant Manager has no obligation to offer all such additional rights, terms or conditions to any other Investor in such Silverfern Investment Partnerships nor in some cases are they required to be disclosed to all Investors. Once invested in a Silverfern Investment Partnership, Investors cannot impose additional investment guidelines or restrictions on such Silverfern Investment Partnership. Assets Under Management As of December 31, 2023, the Managers managed client assets on a discretionary basis in the amount of $204,054,035 and do not manage client assets on a non-discretionary basis.