Description of the Adviser The Adviser, a Delaware limited partnership, was founded in July 2014 to provide discretionary investment advisory services to the private investment fund clients identified below. Seth Rosen is the principal owner of the Adviser and serves as its Managing Partner. Nitorum GP, LLC (the “General Partner”) is an affiliate of the Adviser and acts as general partner to certain private investment fund clients that are organized as limited partnerships. Mr. Rosen is the Managing Member of the General Partner. The Adviser’s private investment fund clients are referred to herein as a “Fund” or the “Funds”, as applicable, and are listed below:
• Nitorum Fund, L.P., a Delaware limited partnership (the “Domestic Fund”);
• Nitorum Offshore Fund, Ltd., a Cayman Islands exempted corporation (the “Offshore Fund”);
• Nitorum Master Fund, L.P., a Cayman Islands exempted limited partnership (the “Master Fund”). It should be noted that the Offshore Fund invests substantially all of its assets in the Master Fund. The Domestic Fund employs a similar strategy and invests its assets in substantially the same manner as the Master Fund. As further described in this Brochure, the Adviser seeks to invest the assets of the Master Fund and the Domestic Fund pari passu based on the equity in the respective Funds. Types of Advisory Services Offered The investment objective of the Funds is to generate superior absolute and risk-adjusted returns over a long period of time while minimizing the risk of capital loss. No assurance, however, can

be given that the Funds’ investment objective will be achieved, and investment results may vary substantially on a monthly, quarterly, annual and/or other periodic basis. The Adviser seeks to achieve the Funds’ objective by employing a classic bottom-up, fundamental research driven process primarily with respect to long and short investments in publicly traded equity securities across a variety of sectors both in the United States and internationally. The Adviser’s methods of analysis are further described in Item 8 (Methods of Analysis, Investment Strategies and Risk of Loss) herein. The particular investment objectives, strategies, fees and risks of each Fund are contained in the respective Fund’s confidential offering documents (each, a “Memorandum”). Availability of Services Tailored to Specific Client Needs The Adviser has broad and flexible investment authority with respect to the Funds and its services are tailored to achieving the investment objectives as stated in each Fund’s Memorandum. The Adviser does not tailor its services to the individual needs of any investor in the Funds. Wrap Fee Programs The Adviser does not participate in wrap fee programs. Client Assets Under Management The Adviser’s regulatory assets under management as of December 31, 2023 were $1,753,146,930, which were all managed on a fully discretionary basis on behalf of the Funds. Please also see Item 8 (Methods of Analysis, Investment Strategies and Risk of Loss), Item 10 (Other Financial Industry Activities and Affiliations) and Item 14 (Client Referrals and Other Compensation).