Recurring Capital Management Company, LLC (“Recurring Capital” or the “Firm”), a Delaware limited liability company, is an investment management company located in Austin, Texas. Recurring Capital provides investment advisory services to investment funds privately offered to qualified purchasers and accredited investors. The Firm commenced operations in September 2016. Recurring Capital was founded and is owned by Brian Henley. Recurring Capital provides portfolio management and investment advisory services to private pooled investment vehicles (“Funds” or “Clients”). Recurring Capital engages in advisory services with Funds that rely on exemption from registration with the SEC under Section 3(c)1 and Section 3(c)7 of the Investment Company Act of 1940, as amended (“Investment Company Act”). Funds relying on the Section 3(c)7 exemption are offered exclusively to qualified purchasers that meet the investment criteria outlined in Section 3(c)7 of the Investment Company Act. Funds relying on Section 3(c)1 exemption are offered to accredited investors under the criteria defined in the Investment Company Act. Recurring Capital’s investment advisory services include identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and selling portfolio investments. The Firm specializes in debt financing for Software as a Service (“SaaS”) and other recurring revenue model technology-driven

companies. Recurring Capital manages each of its Funds within the guidelines and restrictions set forth, as applicable, in each Fund’s private placement memorandum, limited partnership agreement (or limited liability company or other applicable governing agreement), subscription agreements, management services and advisory agreements, side letter agreements and other governing documents of the relevant Fund (collectively, as amended, “Governing Documents”) and within regulatory guidelines and limitations. See Item 8 for additional information regarding the Firm’s investment strategies and risks. Each of the Funds are controlled by a general partner (“General Partner”) or managing member or similar governing entity as provided in the Governing Documents. Each Fund’s General Partner has appointed Recurring Capital (or an affiliate thereof) to serve as the Fund’s investment manager, pursuant to a written agreement. The General Partner in its discretion may offer co-investment opportunities to one or more Funds or their affiliates, and to other funds, private investors, groups, entities, or individuals. Co-investors will be determined by the General Partner in its sole discretion, and co-investment opportunities will be offered on a deal-by-deal basis. Recurring Capital does not participate in any wrap fee programs. Recurring Capital managed $218,134,733 in Client assets (“AUM”), all on a discretionary basis, as of December 31, 2023.