MPA Capital Management LLC ("MPA Capital Management") is an investment adviser with its principal place of business in Wilmington, Delaware. MPA Capital Management commenced operations as an investment adviser on January 18, 2013 and has been registered with the SEC since March 9, 2013. Marvin & Palmer Associates, Inc. ("Marvin & Palmer Associates") is the managing member of MPA Capital Management. Marvin & Palmer Associates is primarily employee-owned and is also an investment adviser registered with the SEC. We provide discretionary investment services to pooled investment vehicles, institutional investors and other sophisticated investors. We are able to tailor our services to our clients' needs. Clients may impose restrictions on investing in certain securities or types of securities. None of the services that we provide is referred to as "financial planning" services or by any other similar terms. MPA Capital Management has formed the following two investment entities (collectively, the "Investment Entities") for which we make the investment decisions:  MPA Asia Fund LP (the "Asia Fund"); and  MPA Asia Master Fund Ltd. (the "Asia Master Fund"). The Asia Fund is based in the United States. The Asia Master Fund is based in the Cayman Islands. The Asia Fund generally invest its assets in the Asia Master Fund. The Asia Master Fund generally invests in publicly traded equity securities that we have identified, in our capacity as adviser, as having the potential for increasing the equity of the Asia Master Fund. The portfolio

of the Asia Master Fund is diversified, although generally limited to non- U.S. securities. Cash balances may be held as cash, placed in interest bearing accounts or invested in securities that are cash equivalents. The Asia Master Fund may enter into hedging transactions, such as forward foreign exchange contracts, in order to protect the value of its portfolio against declines resulting from currency value fluctuations and broad market changes. In addition, the Asia Master Fund may engage in short sales of securities, trade securities on margin, buy and sell synthetic securities representing stock index futures or various groups of securities and options on such synthetic securities for hedging purposes, invest in options and incur leverage. Certain officers, directors, Advisory Board members and employees of MPA Capital Management and Marvin & Palmer Associates are investors in the Investment Entities. We may form additional investment funds in the future, and we may close existing funds. MPA Capital Management was organized as a Delaware limited liability company on January 18, 2013 and was registered with the SEC under the Investment Advisers Act of 1940 on March 9, 2013. As of December 30, 2023 we managed $60.6million on a discretionary basis and $0.0 on a non-discretionary basis. All of the persons acting on behalf of MPA Capital Management are employees of Marvin & Palmer Associates. MPA Capital Management is subject to most of the policies and procedures of Marvin & Palmer Associates; it has its own privacy policy.