FOURSIXTHREE CAPITAL LP

FourSixThree Capital LP (hereinafter “FourSixThree”, “we”, “us”, “our” or the “Firm”) is organized as a Delaware limited partnership with a principal place of business in New York. We are an affiliate of the following entities: SixFourThree GP, LLC (the “Firm General Partner”), FourSixThree GP, LLC, and FourSixThree MM LLC, (the “Fund General Partners”), which are collectively referred to as the “FourSixThree General Partners.” Scott Balkan, William Kelly, Andrew Newton and Rayan Joshi are the owners of FourSixThree. Mr. Balkan and Mr. Kelly direct the investment activities and operations of all investments. We serve as the Investment Adviser, with discretionary trading authority, to: (i) private, pooled investment vehicles (each a “Fund” and collectively the “Funds”), (ii) separately managed accounts (the “SMAs”) and (iii) in a non-discretionary capacity, as a sub-advisor to multiple investment entities under sub-advisory agreements (“SAAs”, and together with the Funds and the SMAs, the “Clients”), the securities of which are offered through a private placement memorandum and/or investment management agreement to accredited investors, as defined under the Securities Act of 1933 (the “Securities Act”). We do not tailor our advisory services to the individual needs of any investor. FourSixThree manages the following private, pooled investment vehicles:

FourSixThree Overseas Fund, Ltd. a Cayman Islands exempted company (the “Offshore Fund”); FourSixThree Intermediate Fund LP, a Cayman Islands Limited Partnership (the “Intermediate Fund”); FourSixThree Domestic Fund LLC, a Delaware limited liability company (the, “Onshore Fund”); FourSixThree Master Fund, LP, a Cayman Islands exempted limited partnership (the “Master Fund”); FourSixThree CAV Master, LP, a Cayman Islands Limited Partnership (the “CAV Fund”)

The Onshore Fund’s “Limited Partners” and the Offshore Fund’s “Shareholders” are hereafter collectively referred to as the “Investors” where appropriate. Our investment decisions and advice with respect to the Funds are subject to each fund’s investment objectives and guidelines, as set forth in its respective “Offering Documents.” The SMAs are managed to make investments in positions that may also be held in the portfolio of the Master Fund. In accordance with the terms of our investment management agreement with the SMAs (the “IMAs”), FourSixThree has discretionary trading authority for the SMAs, subject to compliance with the investment guidelines, restrictions and other parameters set forth in the SMAs’ IMAs. The SAAs have an investment objective that relates to specific trade ideas, and have a finite life that will conclude with the realization of those trade ideas. FourSixThree does not have discretionary trading authority over the SAAs, and makes recommendations to the Investment Advisor of the accounts. If FourSixThree manages additional SMAs or SAAs in the future, such accounts will be subject to the investment objectives, guidelines and restrictions, fee arrangements and other terms individually negotiated with such Clients. Any such additional relationship would generally involve a significant minimum account size.

Note, all capitalized or defined terms below are described in further detail in the relevant Offering Documents or agreement. The Firm has entered into and may enter into “side letters” or similar agreements with certain investors that may waive or modify the application of, or grant special or more favorable rights with respect to the Offering Documents to the extent permitted by applicable law. We do not currently participate in any Wrap Fee Programs. As of December 31, 2025, the Firm has regulatory assets under management of $ 3,184,324,389, of which $3,178,048,793 is managed on a discretionary basis and $6,275,596 on a non-discretionary basis.

The fees applicable to each Client are set forth in detail in the corresponding Offering Documents or applicable agreements; a brief summary of such fees is provided below. Management Fee FourSixThree is paid a monthly investment management fee (“Management Fee”) which is 1/12 of the annual fee rate ranging from 0.75% to 1.75% per annum of the net asset value of the Funds and SMAs. The Management Fee is normally charged on the first day of each month and is paid in advance based on the Fund or SMA’s net asset value on the first day of the month. The SAAs do not pay a Management Fee. FourSixThree in its sole discretion, may waive or modify the Management Fee at any time. Other Types of Fees or Expenses FourSixThree and its General Partners are authorized to incur and pay in the name and on behalf of the Funds and SMAs all expenses which they deem necessary or advisable. The SAAs are not charged expenses. The Firm is responsible for and shall pay, or cause to be paid, all of their own ordinary administrative and overhead expenses, including, without limitation, all costs and expenses related to rent, salaries, office equipment, computer equipment, supplies, wages, bonuses, and other employee benefits. The Funds and SMAs bear all other expenses, its own administrative and operational expenses, including but not limited to, the Management Fees and fees payable to the Administrator; legal, administration, auditing, accounting (including third-party accounting services), tax preparation and other professional expenses; bond surveillance fees; due diligence costs; insurance expenses; the transaction expenses described above; market data expenses; filing fees and expenses (including regulatory filings made in respect of the Fund or SMA such as Form PF preparation and filing expenses); research expenses (including research-related travel); the costs of printing and distributing annual reports and statements and expenses in connection with the ongoing offering of the Interests, including the cost of producing and distributing offering memoranda and other marketing materials, and expenses paid to third-party vendors, including travel and the cost of producing and delivering offering materials, regulatory and compliance expenses directly related to the Funds and SMAs; software, data bases and other technical and telecommunications services; equipment used in the investment management process and hardware directly related to the Funds and SMAs; order management and risk management systems; investment expenses such as commissions, interest on margin accounts and other

indebtedness; custodial fees; bank service fees; and other operating expenses. Each feeder Fund also bears, as an investor in the Master Fund, its pro rata share of the Master Fund’s operational expenses. Neither the Firm nor its employees accept compensation, including sales charges or service fees, from any person for the sale of securities or other investment products.

The descriptions set forth in this Brochure of specific advisory services that we offer to clients, and investment strategies pursued and investments made by us on behalf of our clients should not be understood to limit in any way our investment activities. We may offer any advisory services, engage in any investment strategy and make any investment, including any not described in this Brochure, that we consider appropriate, subject to each client’s investment objectives and guidelines. The investment strategies we pursue are speculative and entail substantial risks. Clients should be prepared to bear a substantial loss of capital. There can be no assurance that the investment objectives of any client will be achieved. Methods of Analysis The Firm has broad discretion in making investment decisions for the Clients. The Firm utilizes various methods of analysis in formulating its investment management decisions. The Firm seeks to achieve attractive risk-adjusted total returns by combining top-down macro analysis with bottom-up fundamental research intended to identify and capitalize on the mispricing of credit risk throughout the debt markets. Investment Strategies The investment strategies for each Client are set forth in the respective governing documents that are provided to investors. The Firm seeks to achieve the Clients’ investment objective through investments in credit instruments, primarily in the United States and Europe. The Firm is highly flexible in its ability to select and dispose of investments in response to market opportunities and other circumstances. The Firm’s primary focus is investing both long and

short in investment grade, high-yield and distressed debt, asset- and mortgage-backed securities (including both residential and commercial), structured credit and sovereign debt. Investments may include, among other things, any of the following: (i) loans of any kind, which may include, without limitation, investment grade, below investment grade or unrated, senior, subordinate or mezzanine, unsecured or secured, syndicated or unsyndicated; (ii) participations in loans (including pari passu, senior and subordinated participations); (iii) bonds (including, without limitation, corporate, municipal and sovereign bonds) of any kind, including, without limitation, investment grade, below investment grade (“high-yield” or “junk”) or unrated, senior, subordinate or mezzanine, unsecured or secured, convertible, exchangeable or neither; (iv) fixed income investments constituting, backed by, or representing an interest in, consumer debt payment obligations and other receivables (consumer or commercial) and financial assets; (v) credit default swaps (including, without limitation, corporate, municipal and municipal bond credit default swaps), total return swaps, put and call options and other derivatives relating to fixed income and other investments, whether structured, over-the-counter or otherwise; (vi) futures, swaps, forward, option and other derivative contracts or instruments, including, without limitation, credit index and equity index options; (vii) investments, including equity and debt investments, in other entities that make fixed income investments, including leveraged vehicles that issue securities commonly known as “collateralized bond obligations,” “collateralized debt obligations” or “collateralized loan obligations” and warehouse facilities relating to the foregoing and other entities, whether leveraged or unleveraged; (viii) distressed and special situation investments relating to the foregoing, including any of the foregoing acquired in debtfor-equity swaps and other kinds of transactions and trade claims; (ix) credit indices; (x) assetand mortgage-backed securities (including both residential and commercial); (xi) “new issues”; and (xii) cash or cash equivalents and other short term investments. Risk of Loss Factors An investment involves significant risks and is suitable only for those persons who can bear the economic risk of the loss of their entire investment, who have limited need for liquidity in their investment, and who have met the conditions set forth in the relevant Clients’ Offering Documents or IMA. There can be no assurances that we will achieve our investment objectives. An investment carries with it the inherent risks associated with investments in publicly-traded stocks and bonds, options, and related instruments. Each prospective investor should carefully review the Offering Documents and the agreements referred to herein before deciding to invest with FourSixThree. General Investment and Trading Risks. All securities investments present a risk of loss of capital. Volatile financial markets increase that risk. If the Firm’s evaluation of an investment opportunity should prove incorrect, the Client could experience losses as a result of a decline in the market value of securities in which the Client holds a long position or an increase in the value of securities in which the Client holds a short position. The Clients’ investment program, as executed through the Client, will include short sales, which can involve substantial volatility and can, in certain circumstances, substantially increase the adverse impact to which the Client may be subject. The risk management techniques that may be used by the Firm do not provide any assurance that the Clients will not be exposed to a risk of significant investment losses. No guarantee or representation is made that the Clients’ investment program will be successful, that the Clients will achieve its targeted returns or that there will be any return of capital invested to investors in the Clients. In addition, investment results may vary substantially over time. Economic and Market Conditions. The success of the Firm’s investment decisions may be affected by general economic and market conditions, such as interest rates, availability of credit, inflation rates, economic uncertainty, changes in laws, developments in governmental regulation and national and international political circumstances. These factors may affect the success of the businesses in which the issuers of the Clients’ portfolio securities are engaged as

well as the markets for the securities the Clients hold. Unexpected volatility or illiquidity could impair the Clients’ profitability or result in losses. Various sectors of the global financial markets have recently experienced extended periods of market volatility, such as disruptions in global supply chains, natural disasters due to climate change, high inflation, U.S.-Israeli-Iranian military conflict, the Israeli-Palestinian conflict, the ongoing military conflict between Russia and Ukraine, the Middle East and Venezuela conflicts, U.S. tariffs on its trading partners. These geopolitical conditions continue to disrupt global markets having an adverse effect on the financial markets domestically and globally. Consumer and business confidence could increase market volatility and reduce liquidity, which could cause a materially adverse effect on performance and overall ability to achieve its investment strategies. Regulatory Restrictions. The investment strategies pursued by the Client may be affected by U.S. state and federal laws governing the beneficial ownership of securities in public companies, which may inhibit the Client’s ability to freely acquire and dispose of certain securities. Should the Client be affected by such rules and regulations, it may not be able to transact in ways that would realize value for the Client. In addition, any changes to government regulations could make some or all forms of corporate governance strategies unlawful or impractical. Accordingly, such changes, if any, could have an adverse effect on the ability of the Client to achieve its investment objective. Investment Judgment. The profitability of a significant portion of the Clients’ investment program depends to a great extent upon correctly assessing the future profitability of the price movements of securities and other investments. There can be no assurance that the Firm will be able to accurately predict the long-term results of any security or other investment. Hedging. Hedging strategies in general are usually intended to limit or reduce investment risk, but they can also be expected to involve transaction costs and may inherently limit or reduce the potential for profit. In addition, although the Firm may utilize a variety of instruments, including options and other derivatives, for hedging and risk management purposes, it is not obligated to, and my not, hedge against certain risks. Furthermore, the Clients’ portfolio will always be exposed to risks that cannot be hedged, such as, for example, credit risk. Concentration of Investments. The investments of the Clients may be concentrated in a relatively limited number of investments which may tend to result in more rapid changes in the value of the portfolio, upward or downward, than would be the case with greater diversification, with the result that a loss in any such position could have a material adverse impact on the Clients’ capital and performance. Management Risk. The individual investments of the Client may not perform as expected, due to credit, political, or other risks and/or the portfolio management practices applied by the Firm may not achieve the desired result. Various legislative, regulatory, or tax developments may affect the investment techniques available to the Firm. Changes in Investment Strategy. The Clients’ governing documents and the agreements between the Firm and the Clients give the Firm and its affiliates broad discretion to expand, contract or otherwise change the Clients’ activities without the consent of the investors. Thus the investment strategies described herein may be altered if the Firm and its affiliates believe the change is in the best interests of the Clients. Any such change could result in the exposure of the Client’s capital to additional risks, which may be substantial. Market Risk Factors Interest Rate Risk. Fixed-income securities are affected by changes in interest rates. The value of most fixed income securities move in the opposite direction of the change in

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Our clients are the Funds, the SMAs and the SAAs, as described above.

We and our affiliates are entitled to an annual performance-based allocation, ranging from 10% - 20% of realized and unrealized income and gains of the Clients, subject to a high watermark (if applicable), as described in the Offering Documents or applicable agreement. Performance-based allocation arrangements may create an incentive for us to recommend investments which may be riskier or more speculative than those which we would recommend under a different arrangement in an effort to maximize a Client’s gross profits and receive greater compensation. In the event that the investment advisory relationship is terminated (or funds are withdrawn or redeemed) other than at the end of a performance allocation calculation period, such termination (or withdrawal or redemption) date shall typically be treated as the end of a performance allocation calculation period.

Neither we nor our management persons are registered as broker-dealers, and neither of us has any application pending to register with the SEC as a broker-dealer or registered representative of a broker-dealer, respectively. FourSixThree meets the definition of a commodity pool operator ("CPO") and, depending on the amount of commodity interests that we trade, we may be required to register with the CFTC and become a member of the National Futures Association (“NFA”). However, we currently rely on an exemption from registration pursuant to CFTC Rule 4.13(a)(3) and 4.14 based on our trading a de minimis level of commodity interests. We do not recommend or select other investment advisers for our clients.

Trading Code of Ethics FourSixThree has adopted a “Code of Ethics” that establishes the high standard of conduct that we expect of our employees and procedures regarding our employees’ personal trading of securities. Our employees are required to certify their adherence to the terms set forth in the Code of Ethics upon commencement of employment and annually thereafter. Employees also are required to provide quarterly certifications of compliance with certain Code of Ethics provisions. The foundation of our Code of Ethics is based upon the following underlying fiduciary principles:

Employees must at all times place the interests of the Clients and Investors first; Employees must ensure that all personal securities transactions are conducted consistent with the Code of Ethics’ Employee Investment Policy (summarized below); and Employees should not take inappropriate advantage of their position at the Firm.

Personal Securities Trading Employees are not permitted to trade single name securities, including but not limited to; equity securities, options on equities, publicly-traded bonds or other fixed income or debt investments (including derivatives), futures or commodities, without written pre-approval from the CCO. Employees are permitted to liquidate positions held at the time of employment (a “Liquidating Trade”) subject to pre-clearance by the CCO. Employees are prohibited from participating in Initial Public Offerings (“IPOs”). Furthermore, employees are also prohibited from personally, or on behalf of a Client, purchasing or selling securities that appear on the Firm’s Restricted List. Employees are permitted to trade cryptocurrencies subject to the CCO’s pre-approval.

Employees must obtain pre-approval from the CCO before: (i) making a Liquidating Trade; (ii) engaging in any outside business activities that may present a conflict with the employees’ duties at the Firm; or (iii) making any private investments. We will provide a copy of our Code of Ethics to our Investors, or any prospective investor or client, upon request, to be viewed on the premises. Participation or Interest in Client Transactions Neither we nor our related persons generally purchase any securities for our own accounts from, or sell any securities for our own accounts to, the Clients. We may solicit qualified clients to invest in a Fund. We could be considered to have recommended an investment in the Fund as suitable for a client as a result of our relationship with the Fund. We will inform each client of our relationship with a Fund prior to the client’s investment, but we do not intend to advise clients as to the appropriateness of the investment and we will not receive any compensation for selling interests in a Fund (except to the extent that we receive our Management Fee and Performance Allocation from Investors). We disclose these, and other potential conflicts of interest, to Investors in the Fund’s Offering Documents. Offering Documents are delivered to Investors prior to their investment and Investors are given the opportunity to ask questions and seek answers regarding, among other things, potential conflicts involving us, our affiliates, or the executive officers of the foregoing.

FourSixThree is authorized to determine the broker-dealer to be used for executing securities transactions for the Clients. In selecting broker-dealers to execute transactions, we do not need to solicit competitive bids and do not have an obligation to seek the lowest available commission cost. The Clients’ securities and other assets are held in securities accounts at our prime brokers that are “Qualified Custodians” as defined in the Advisers Act. Best Execution In selecting brokers and negotiating commission rates, we will take into account the financial stability and reputation of brokerage firms, and the research, brokerage, or other services provided by such brokers. In selecting an appropriate broker-dealer to effect a client trade, we seek to obtain “Best Execution,” meaning generally the execution of a securities transaction for a client in such a manner that a client’s total costs or proceeds in the transaction are most favorable under the circumstances. Accordingly, in seeking Best Execution, we will take into consideration the price of a security offered by the broker-dealer, as well as a broker-dealers’ full range and quality of their services including, among other things, their facilities, reliability and financial responsibility, execution capability, commission rates, responsiveness to us, brokerage and research services provided to us (for example, research ideas, analysis, and investment strategies), special execution and block positioning capabilities, clearance, and settlement and custodial services. Soft Dollars The Firm may make use of “Soft Dollars”. In cases where the Master Fund’s trading activities through its selected prime brokers may engage in capital introductions to the Funds, there will be no additional charge from the prime brokers. We intend to keep any such arrangements within the parameters of the safe harbor of Section 28(e) of the Securities Exchange Act of 1934.

Neither FourSixThree nor any related person receives client referrals from any broker-dealer or third party. However, subject to best execution, we may consider, among other things, capital introduction and marketing assistance with respect to investors in the Funds in selecting or recommending broker-dealers for the Funds.

We do not receive economic benefits from non-clients for providing investment advice and other advisory services. Neither we nor any of our related persons, directly or indirectly, compensate any person who is not a supervised person for client referrals.

To the best of our knowledge, there are no legal or disciplinary events that are material to an Investor's or prospective investor's evaluation of our advisory business or the integrity of our management.

Our CIO will continuously monitor and analyze the transactions, positions, and investment levels of the Clients to ensure that they conform with the investment objectives and guidelines that are stated in the Clients’ Offering Documents and IMA. In these reviews, we pay particular attention to any changes in the investment’s fundamentals, overall risk management and changes in the markets that may affect price levels. Further, the CCO will periodically review the Firm’s trading to ensure consistency with applicable laws and regulations. We will distribute annual audited financial statements with respect to the previous fiscal year to all Investors within 120 days of the relevant Client’s fiscal year end. We may also distribute other interim reports to Investors.

We will comply with Advisers Act’s Custody Rule by meeting the conditions of the pooled vehicle annual audit approach. Upon completion of the relevant Client’s annual audit by an independent auditor that is registered with, and subject to inspection by, the Public Company Accounting Oversight Board (PCAOB), we will distribute the Client’s audited financials to Investors within 120 days of the Client’s fiscal year end.

Where appropriate, FourSixThree will have discretionary authority to manage the assets of each Client. This discretionary authority is conferred to the Firm pursuant to investment management agreements between FourSixThree and each respective Client. The investment management agreements provide that FourSixThree has complete discretion regarding the investment of a Clients’ assets in accordance with the investment objectives, policies and parameters set forth in the applicable governing documents of each Client. FourSixThree has and may in the future enter into additional agreements, or side letters, with certain prospective or existing investors in pooled investment vehicles whereby such investors may be subject to terms and conditions that are more advantageous than those set forth in the applicable governing documents of a Fund, without notice to, or consent of, other investors in the applicable Fund. For example, certain government-related investors (e.g., public pensions), as a condition of their investment, may require that the Firm agree to certain notifications or to comply with the investor’s status-specific requirements. In addition, the terms and conditions of side letters have and may provide for special rights to make future investments; special redemption rights generally relating to regulatory issues; or such other rights as may be negotiated by the Funds and such investor.

In compliance with the Advisers Act’s Proxy Voting Rule, we have adopted proxy voting policies and procedures. The general policy is to vote all proxy proposals, amendments, consents or resolutions (collectively, “Proxies”) in a prudent and diligent manner which will serve the applicable client’s best interests and is in line with each client’s investment objectives. Generally, clients may not direct our vote in a particular solicitation. Clients may obtain a copy of our Proxy voting policies and procedures by contacting the CCO. Client may obtain and our Proxy voting record upon request.

FourSixThree is not aware of any financial condition reasonably likely to impair its ability to meet contractual commitments to clients and has not been the subject of a bankruptcy petition at any time during the past ten years.