Mangrove Equity Partners, L.P., formed in 2007, is one of a group of companies headquartered in Tampa, FL that was founded to make and manage investments in private equity funds, pooled investment vehicles structured as U.S. limited partnerships (each a “Fund” or “Client” and collectively, the “Funds” or “Clients”). Mangrove Equity Partners, L.P. acts as the management company to the Funds providing administrative, management and investment services. Its affiliates act as the general partners to the Funds which have substantially similar objectives. For the purposes of this brochure, Mangrove Equity Partners, L.P. and its affiliates will be referred to collectively as “Mangrove”, the “Adviser”, or the “Firm”. The principal owners of Mangrove are Mark Danzi, Glenn Oken, Jonathan Hunter Reichert (referred to as “Hunter Reichert”), and Edwin Matt Young (referred to as “Matt Young”). Mr. Oken, Mr. Reichert, and Mr. Young are also the Firm’s founders. The Firm invests in control equity transactions, primarily majority recapitalizations and management buyouts, partnering with owner/operators and management teams to build enhanced investment value. The Funds invest in companies within the lower end of the middle market, generally defined as companies with initial enterprise valuations less than $75 million and revenue and EBITDA typically less than $100 million and $10 million, respectively. Mangrove seeks businesses with significant value enhancement opportunities, and seeks to partner with management teams who are open to its involvement and support. The investment team investigates, identifies and evaluates investment opportunities; structures

and negotiates making investments on behalf of the Funds; manages, monitors the performance of the investments and disposes of them. The Funds’ advisory services are tailored to the specific investment objectives and restrictions as set forth in their offering documents. However, in accordance with common industry practice, the Funds may enter into “side letters” or side agreements with certain investors in the Funds who may be granted specific rights, benefits, or privileges not set forth in the offering documents. Such investor specific rights, benefits or privileges may not be applicable to all investors and therefore may not be made available or disclosed to all generally. However, at no time shall any such side letter or similar agreement entered into by Mangrove or the Fund with a limited partner contain terms which are adverse to the interests of any other limited partner. Mangrove may establish co-investment vehicles, through which certain principals, friends and family may invest alongside a Fund in each investment made by a Fund. Other alternative investment vehicles or special purpose vehicles (collectively, “AIVs”) may be formed for the purpose of facilitating certain investments by one or more investors. In addition, one or more parallel funds may be organized on terms substantially similar to those of the Funds to meet the needs of certain classes of investors. Each parallel fund, if any, will co-invest on a pro rata basis in all Fund transactions. As of December 31, 2023, Mangrove had regulatory assets (which include uncalled capital commitments) under management of $245,449,363 on a discretionary basis and $-0- in assets on a non-discretionary basis.