Hatteras Investment Partners, LP

Hatteras Investment Partners, L.P. (“Hatteras”) is a 100% employee-owned alternative investment boutique and investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”) since March 2014. Hatteras serves as the Investment Manager and General Partner to pooled investment vehicles (or “Hatteras Limited Partnerships”) that are exempt from registration under the Investment Company Act of 1940 (“1940 Act”) and serves as Investment Adviser to additional pooled investment vehicles. Hatteras serves as Investment Manager to closed-end funds registered under the 1940 Act and Securities Act of 1933 (or “Hatteras Registered Funds”). Hatteras furnishes investment advice to the Hatteras Registered Funds, Hatteras Limited Partnerships, Hatteras Ben Legacy, L.P., and the Hatteras Ben Private Legacy, L.P. (together the “Funds”) that it manages and does not provide advisory services directly to individuals or other entities. Depending upon the registration status or exemption and investor qualifications, the Funds may either be publicly offered to qualified clients or private limited offerings. The Funds are managed in accordance with the investment objectives, strategies and guidelines as outlined in the current registration statement or offering document and are not tailored to any particular investor in the Funds. Hatteras does not provide individualized investment advice to investors; therefore, investors should consider whether a particular fund meets their investment objectives, risk tolerance and financial situation. Investors may also consider seeking the advice and guidance of a qualified financial professional. Hatteras’s investment management services include setting the mandate of the Funds, determining the investment objectives of the Funds, manager search and selection, asset allocation decisions across fund investment strategies and monitoring existing and prospective investments in light of each fund’s investment objectives and risk parameters. Hatteras has entered into Investment Management Agreements or Investment Advisory Agreements with each of the Funds, as applicable and/or required. The Investment Management Agreements and Investment Advisory Agreements describe the terms of the agreements, but in general, each agreement may be terminated at any time in writing by Hatteras or by the applicable Fund upon 60 days prior written notice to Hatteras or the applicable Fund, respectively. As of December 31, 2025, Hatteras has approximately $114.7 million in assets under management. The Funds managed by Hatteras Investment Partners are as follows: The Hatteras Master Fund, L.P. (the “Master Fund”), an investment company registered under the 1940 Act. The Master Fund is the master fund in a master/feeder structure comprised of the Master Fund and the Hatteras Core Alternatives Funds (“Feeder Funds”). Historically, the Master Fund invested in other investment funds (the “Underlying Funds”) and managed accounts. The Hatteras Core Alternatives Fund, L.P.; the Hatteras Core Alternatives TEI Fund, L.P.; the Hatteras Core Alternatives Institutional Fund, L.P.; and the Hatteras Core Alternatives TEI Institutional Fund, L.P. (collectively referred to as the “Core Alternatives Funds” or the “Feeder Funds”) are Delaware limited partnerships that are registered under the 1940 Act, as non-diversified, closed-end management investment companies whose units are registered under the Securities Act of 1933. The Core Alternatives Funds invest substantially all of their assets in the Master Fund. Historically, the Master Fund used a number of independent

Adviser Funds selected by Hatteras, the investment manager of the Master Fund. Hatteras primarily pursued the Core Alternatives Funds’ investment objective by investing the Master Fund’s assets in hedge fund strategies and private investments. The Hatteras Core Alternatives Funds are in a Plan of Liquidation and are not accepting new investors. Hatteras Evergreen Private Equity Fund, LLC (the "Funds”) is a Delaware Limited Liability Company that is not registered under the 1940 Act by reason of the provisions of section 3(c)(7). Historically, the investment objective of the Fund was long-term capital appreciation through an evergreen portfolio of private equity and related investments ultimately diversified by vintage year, manager, strategy, and subclass with a focus on lower middle-market North American buyouts. An evergreen fund generally is a continuously offered investment vehicle in which distributions generated by underlying portfolio company exits may be reinvested for the purpose of maintaining a more consistent portfolio allocation to private equity. Hatteras Evergreen Private Equity TEI Fund (the “EPEF TEI”) is a Delaware Limited Liability Company that is not registered under the 1940 Act by reason of the provisions of section 3(c)(7). The Manager invests all of the assets of Hatteras EPEF TEI in Hatteras Evergreen Private Equity Offshore Fund Ltd (the “Offshore Fund”). The Offshore Fund’s investment objective and strategy are identical to the Hatteras Evergreen Private Equity Fund. The Hatteras Evergreen Private Equity Fund and Hatteras Evergreen Private Equity TEI Fund are in a Plan of Liquidation and not accepting new investors. Hatteras Global Private Equity Partners Institutional, LLC (the "GPEP Institutional Fund") is a Delaware Limited Liability Company that, since January 20, 2016, is exempt from registration under the 1940 Act in reliance on Section 3(c)(1) of the 1940 Act. The GPEP Institutional Fund is in a Plan of Liquidation and closed to new investors. Hatteras GPEP Fund, L.P. (the "GPEP Fund") is a Delaware series Limited Partnership that since in late 2008, is exempt from registration under the 1940 Act in reliance on Section 3(c)(1) of the 1940 Act. The GPEP Fund is in a Plan of Liquidation and closed to new investors. Hatteras GPEP Fund II, LLC (the “GPEP Fund II”) is a Delaware Limited Liability Company that is exempt from registration under the 1940 Act, in reliance on Section 3(c)(1) of the 1940 Act as of May 25, 2015. The GPEP Fund II is in a Plan of Liquidation and closed to new investors. While the Funds are currently in a Plan of Liquidation, the Funds are not in Liquidation. As of the publishing date of this report, the timing for the Liquidating Distribution is unknown. Hatteras Ben Legacy, L.P. is a Delaware limited partnership designed to acquire, hold, sell and exchange, either directly or indirectly, interests in the limited partnerships or other pooled investment vehicles as described in the Limited Partnership Agreement. Hatteras has been engaged, appointed, and retained to provide non-discretionary investment advisory, administrative, reporting and monitoring services whereby the services are related to a portfolio of hedged and private investments.

Hatteras Ben Private Legacy, L.P. is a Delaware limited partnership designed to acquire, hold, sell and exchange, either directly or indirectly, interests in the limited partnerships or other pooled investment vehicles as described in the Limited Partnership Agreement. Hatteras has been engaged, appointed, and retained to provide non-discretionary investment advisory, administrative, reporting and monitoring services whereby the services are related to a portfolio of private investments.

A description of how Hatteras is compensated for its advisory services is summarized below. Fees and other expenses not disclosed here may be incurred by the Funds, such as but not limited to, fund administration fees, fund accounting fees, custodian fees, audit fees and transfer agency fees and expenses, as applicable and further detailed in each Fund’s prospectus or offering document. The fee structures are reviewed annually, with the fee structures for the Hatteras Core Alternatives Fund reviewed with the Board of Directors during the Annual 15(c) Board of Directors Meeting. Hatteras Core Alternatives Funds The Master Fund will pay the Investment Adviser a management fee at an annual rate of 0.10% and an administration fee at an annual rate of 0.15%, payable quarterly in arrears, based upon the Master Fund’s net assets as of each quarter-end. Although the Feeder Funds will not pay any direct investment management, advisory, or administration fees, the Feeder Funds will bear, as a result of their investment in the Master Fund, their allocable portion of the management fees and administration fees charged to the Master Fund. The Adviser has not received an investment management fee since March of 2024. As compensation for the services rendered by the Agent, each Feeder Fund intends to pay compensation to the Investment Manager for fund services in accordance with a fund servicing agreement between each Feeder Fund and Hatteras (in such capacity, the “Servicing Agent”). The Servicing Agent receives a quarterly fund servicing fee (the “Fund Servicing Fee”) equal to 1/4th of 0.65% (0.65% on an annualized basis) of the aggregate value of each Fund’s net assets as of the end of each quarter. The Fund Servicing Fee payable to the Servicing Agent will be borne pro rata by all Partners of each corresponding Feeder Fund before giving effect to any repurchase of Units in a Feeder Fund effective as of that date and will decrease the net profits or increase the net losses of the Feeder Fund that are credited to its Partners. The Servicing Agent may waive (to all investors on a pro rata basis) or pay to third parties all or a portion of any such fees in its sole discretion. The Servicing Agent may delegate some or all of its servicing responsibilities to one or more service providers. In addition to the management fee and administration fee, as detailed in Item 6, Hatteras will be entitled to receive a Performance Allocation. Effective March 31, 2024, Hatteras Investment Partners, LP entered into an agreement with the Hatteras Master Fund to waive the entirety of the Performance Allocation for the twelve-months ended December 31, 2022, in the amount of $698,890. The Fund agrees to carry forward, for a period not to exceed three years from March 31, 2024, all of the 2022 Performance Allocation waived pursuant to this Agreement, and to repay the Adviser 10.0% of the 2022 Performance Allocation for each $31,042,357 returned to the Fund’s limited partners upon the completion of the pending liquidation of the Fund. To the extent that the full amount of such waived amount or expense paid cannot be repaid as provided in the previous sentence within such applicable threeyear period, such repayment obligation shall be extinguished.

Effective April 1, 2024, Hatteras Investment Partners, LP entered into an agreement with the Hatteras Master Fund to waive the entirety of the outstanding Management Fee, in the amount of $955,597. The Fund agrees to carry forward, for a period not to exceed three years from March 31, 2024, all of the outstanding Management Fee waived pursuant to this Agreement, and to repay the Adviser 10.0% of the outstanding Management Fee for each $31,042,357 returned to the Fund’s limited partners upon the completion of the pending liquidation of the Fund. To the extent that the full amount of such waived amount or expense paid cannot be repaid as provided in the previous sentence within such applicable three-year period, such repayment obligation shall be extinguished. Effective April 1, 2024, Hatteras Investment Partners, LP entered into an agreement with the Hatteras Core Alternatives Fund, L.P. to waive the entirety of the outstanding Fund Servicing Fee, in the amount of $92,822. The Fund agrees to carry forward, for a period not to exceed three years from March 31, 2024, all of the outstanding Fund Servicing Fee waived pursuant to this Agreement, and to repay the Adviser 10.0% of the outstanding Management Fee for each $31,042,357 returned to the Fund’s limited partners upon the completion of the pending liquidation of the Fund. To the extent that the full amount of such waived amount or expense paid cannot be repaid as provided in the previous sentence within such applicable three-year period, such repayment obligation shall be extinguished. Effective April 1, 2024, Hatteras Investment Partners, LP entered into an agreement with the Hatteras Core Alternatives Institutional Fund, L.P. to waive the entirety of the outstanding Fund Servicing Fee, in the amount of $110,906. The Fund agrees to carry forward, for a period not to exceed three years from March 31, 2024, all of the outstanding Fund Servicing Fee waived pursuant to this Agreement, and to repay the Adviser 10.0% of the outstanding Management Fee for each $31,042,357 returned to the Fund’s limited partners upon the completion of the pending liquidation of the Fund. To the extent that the full amount of such waived amount or expense paid cannot be repaid as provided in the previous sentence within such applicable three-year period, such repayment obligation shall be extinguished. Hatteras Evergreen Private Equity Fund The Hatteras Evergreen Private Equity Fund will pay a management fee to the Investment Manager equal to 1.00% for Class F Units on an annualized basis of the net asset value of each Members’ capital account as of each month-end. The management fee will be paid to the Investment Manager out of the Hatteras Evergreen Private Equity Fund’s assets and will therefore decrease the net profits or increase the net losses of the Fund. The Fund will also pay the Adviser for its fund administrative services a monthly Fund Services Administrative Fee equal to 0.25% on an annualized basis of the net assets of the Hatteras Evergreen Private Equity Fund. The Fund Services Administrative Fee will be paid to the Adviser out of the Hatteras Evergreen Private Equity Fund’s assets and will decrease the net profits or increase the net losses of the Hatteras Evergreen Private Equity Fund. A Hatteras affiliate, Hatteras Capital Distributors, LLC (“HCD”), a SEC-registered broker and FINRA Member, serves as a placement agent (“Placement Agent”) on behalf of the Funds pursuant to a placement agreement (“Placement Agreement”) between Hatteras and HCD. HCD is located at 8510 Colonnade Center Drive, Suite 150, Raleigh, North Carolina, shares the same personnel as Hatteras, and acts as placement agent to the Hatteras Evergreen Private Equity Fund on a bestefforts basis, subject to various conditions, pursuant to the Placement Agreement. As the

Placement Agent, HCD is also responsible for selecting brokers and dealers in connection with the offering of Units and for negotiating the terms of any such arrangements. Neither the Placement Agent nor any other party is obligated to buy from the Fund any Units. In addition to the management fee, as detailed in Item 6, Hatteras is entitled to receive an Incentive Allocation subject to the terms described in the offering memorandum. GPEP Institutional Fund The GPEP Institutional Fund will pay the Investment Manager a management fee that shall equal 1.25% based on an annualized basis of the net assets of the Fund as of each quarter-end. A Service fee of 0.50% is charged by the Fund Servicing Agent, Hatteras, on all assets in GPEP Institutional Fund. During the offering period, investments in GPEP Institutional Fund were subject to a placement fee payable to the primary placement agent, Hatteras Capital Distributors, LLC, an affiliate of Hatteras. The Placement Agent entered into an expense reduction agreement pursuant to which it rebated to the Fund, in order to offset operating expenses, any amount it received as a placement fee. In addition to the management fee, as detailed in Item 6, Hatteras is entitled to receive an Incentive Allocation subject to the terms described in the offering memorandum. Hatteras GPEP Fund The GPEP Fund will pay the Investment Manager a management fee that shall equal (i) until the last day of the Investment Period, 1.00% per year of aggregate commitments at the time such payment is payable; and (ii) in respect to the remainder of the term of the Fund and during any suspension period, 1.00% per year of the cost basis of the Fund's remaining fund investments less any unrealized losses related to such fund investments. In addition to the management fee, as detailed in Item 6, Hatteras is entitled to receive a carried interest allocation. Hatteras GPEP Fund II The GPEP Fund II will pay the Investment Manager a management fee that shall equal 1.25% on an annualized basis of the net assets of the Fund as of each quarter-end. A Service fee of 0.50% is charged by the Fund Servicing Agent, Hatteras, on all assets in GPEP Fund II. During the offering period, investments in GPEP Fund II were subject to a placement fee payable to the primary placement agent, Hatteras Capital Distributors, LLC, an affiliate of Hatteras. The Placement Agent entered into an expense reduction agreement pursuant to which it rebated to the Fund, in order to offset operating expenses, any amount it received as a placement fee. In addition to the management fee, as detailed in Item 6, Hatteras is entitled to receive a carried interest allocation subject to the terms described in the offering memorandum. Hatteras Ben Legacy, L.P. Pursuant to an Investment Advisory Agreement between the Hatteras Ben Legacy, L.P. and

Hatteras Investment Partners, Hatteras Ben Legacy, L.P. will pay the Investment Adviser (Hatteras) a management fee in an amount equal to 0.25% (1.00% per annum) of the net asset value of the Account as of the last business day of each applicable calendar quarter. In addition to the management fee, as detailed in Item 6, Hatteras will be entitled to receive a Performance Allocation. Hatteras Ben Private Legacy, L.P. Pursuant to an Investment Advisory Agreement between the Hatteras Ben Private Legacy, L.P. and Hatteras Investment Partners, Hatteras Ben Private Legacy, L.P. will pay the Investment Adviser (Hatteras) a management fee in an amount equal to 0.25% (1.00% per annum) of the net asset value of the Account as of the last business day of each applicable calendar quarter. In addition to the management fee, as detailed in Item 6, Hatteras will be entitled to receive a Performance Allocation.

As with all investments, investing involves risk and loss of principal is possible. Clients should be prepared to bear such loss. Please see each Funds’ prospectus, registration statement, or offering memorandum for a detailed discussion of the specific risks disclosed here and other important risks and considerations. Furthermore, please consult an investment professional for advice regarding your particular circumstances. An investment in the Funds may not be suitable for all investors. Plan of Liquidation The following Funds remain in a Plan of Liquidation: Hatteras Core Alternatives Funds; Hatteras Evergreen Private Equity Funds; and Hatteras GPEP Funds.

Hatteras Ben Legacy, L.P. Hatteras has been engaged, appointed, and retained to provide non-discretionary investment advisory, administrative, reporting and monitoring services related to a portfolio of hedged and private investments strategies. Hedged investment strategies may include, but are not limited to, long/short equity, relative value, event driven, and global macro. Private investment strategies may include, but are not limited to, private equity, private real estate, private energy and natural resources and private credit. Hatteras Ben Private Legacy, L.P. Hatteras has been engaged, appointed, and retained to provide non-discretionary investment advisory, administrative, reporting and monitoring services related to a portfolio of private investments strategies with a focus on North American Lower Middle Market Buyout Funds.

Hatteras provides investment management services and investment advisory services to the Funds described in Item 4 including registered investment companies and private funds that may invest in hedge funds, other private limited partnerships, direct company investments, equities, fixed income, derivatives, and other types of investments as outlined in each Fund’s respective prospectus, registration statement or offering memorandum. Please see the response to Item 4 for a description of the Funds. Due to the active plan of liquidation, the Hatteras Core Alternatives Funds and Hatteras Evergreen Private Equity Funds are not accepting new investments. Hatteras does not currently provide advisory services to individual clients and has no current plans to provide such services.

Hatteras has entered into the performance-related fee arrangements described below, which are more fully elaborated on in the applicable offering memorandum for the Funds. Hatteras also has an incentive to allocate investment opportunities to Accounts that have a higher performance compensation instead of other Accounts. To resolve this issue, Hatteras has adopted an allocation policy to ensure that all Accounts are treated fairly and equitably. Hatteras Core Alternative Funds Hatteras serves as the General Partner of the Master Fund. As such, the General Partner of the Master Fund is allocated a performance allocation (calculated and accrued quarterly and payable annually and calculated separately for the Core Alternatives Fund, the TEI Fund and each other fund that serves as a feeder fund to the Master Fund) equal to 10% of the amount by which net new profits of the limited partner interests of the Master Fund exceed the non-cumulative “hurdle amount,” which is calculated as of the last day of the preceding calendar year of the Master Fund at a rate equal to the yield-to-maturity of the 90 day U.S. Treasury Bill as reported by the Wall Street Journal for the last business day of the preceding calendar year of the Master Fund (the “Performance Allocation”). The Performance Allocation is made on a “peak to peak,” or “high watermark” basis, which means that the Performance Allocation is made only with respect to new net profits. If, with respect to a Fund, the Master Fund has a net loss in any period followed by a net profit, no Performance Allocation will be made with respect to such subsequent appreciation until such net loss has been recovered. As a result of the Plan of Liquidation for the Hatteras Core Alternatives Funds, performance fees subsequent to 2021 will not be realized until the Fund’s portfolio is liquidated. Hatteras Evergreen Private Equity Fund, LLC The Adviser will be entitled to receive an incentive fee equal to 10% of the excess, if any, of (i) the net profits of the Fund for the calendar quarter over (ii) the then balance, if any, of the New Loss Recovery Account (as defined below). The Fund will maintain a memorandum account (the “New Loss Recovery Account”) which will have an initial balance equal to zero. The Loss Recovery Account will be (i) increased by the amount of the net losses of the Fund for the quarter, or (ii)

decreased (but not below zero) by the amount of the net profits of the Fund for the quarter. Net profits of the Fund shall include all items of income, gain, and loss attributable to Fund, less all expenses of the Fund, all recorded on an accrual basis. As a result of the Plan of Liquidation for the Hatteras Evergreen Private Equity Funds, incentive fees subsequent to 2021 will not be realized until the Fund’s portfolio is liquidated. GPEP Institutional Fund GPEP Institutional Fund will pay an incentive allocation at the end of each calendar year (and at certain other times, including upon the effective date of any repurchase), to Hatteras in an amount equal to 10% of the excess, if any, of the net profits of GPEP Institutional Fund above the then balance of GPEP Institutional Fund’s loss recovery account; provided that GPEP Institutional Fund has earned at least a 6% annualized return (prior to the deduction of the Incentive Allocation) for the period. Any incentive allocation will be deducted pro-rata from each Member’s Units. As a result of the Plan of Liquidation for the Hatteras GPEP Institutional Fund, performance fees subsequent to 2021 will not be realized until the Fund’s portfolio is liquidated. GPEP Fund Cash and securities received by the GPEP Fund from a portfolio fund ("Distribution Proceeds") will be distributed to each Limited Partner in proportion to its pro rata capital contribution made in respect to such portfolio fund, in the following order of priority: a. First, 100% to such Limited Partner until the cumulative distributions to such Limited Partner equal the aggregate of such Limited Partner's Capital Contributions to the Fund made in respect to the portfolio fund from which proceeds are received (such Fund Investment, the "Distribution Source") plus such Limited Partner's Capital Contributions to the GPEP Fund used to fund the GPEP Fund's expenses including the Management Fee in respect to the Distribution Source, as of that time; b. Second, to such Limited Partner until such Limited Partner's internal rate of return (calculated in accordance with the Partnership Agreement) on the Capital Contributions made in respect to such Distribution Source equals 7% (the "Preferred Return"); c. Third, to the General Partner (Hatteras Investment Partners) until 10% of the sum of all distributions made pursuant to clause (b) above and this (c); and d. Thereafter, 90% to such Limited Partner and 10% to the General Partner (pursuant to clause (c) above and this (d), the "Carried Interest"). As a result of the Plan of Liquidation for the Hatteras GPEP Fund, performance fees subsequent to 2021 will not be realized until the Fund’s portfolio is liquidated. GPEP Fund II After a Member has received distributions and/or repurchase proceeds equal to 125% of its Capital Contributions, GPEP Fund II will make distributions and repurchase proceeds on a 90%/10% split among the Member and the Adviser, respectively.

As a result of the Plan of Liquidation for the Hatteras GPEP Fund II, performance fees subsequent to 2021 will not be realized until the Fund’s portfolio is liquidated. Hatteras Ben Legacy, L.P. Pursuant to the Hatteras Ben Legacy Limited Partnership Agreement, Hatteras is entitled to receive a performance-based allocation equal to 10% of the excess, if any, of the new Net Profits of the Investor Limited Partner’s Capital Account, over the then balance, if any, of the New Loss Recovery Account. The Performance Allocation is made on a “peak to peak,” or “high watermark” basis, which means that the Performance Allocation is made only with respect to new Net Profits. If the Partnership has a Net Loss in any Fiscal Period or Performance Period followed by a Net Profit in a subsequent Fiscal Period or Performance Period, no Performance Allocation will be made with respect to such subsequent appreciation until such Net Loss has been recovered. Hatteras Ben Private Legacy, L. P. Pursuant to the Hatteras Ben Private Legacy Limited Partnership Agreement, Hatteras is entitled to receive a performance-based allocation equal to 10% of the excess, if any, of the new Net Profits of the Investor Limited Partner’s Capital Account, over the then balance, if any, of the New Loss Recovery Account. The Performance Allocation is made on a “peak to peak,” or “high watermark” basis, which means that the Performance Allocation is made only with respect to new Net Profits. If the Partnership has a Net Loss in any Fiscal Period or Performance Period followed by a Net Profit in a subsequent Fiscal Period or Performance Period, no Performance Allocation will be made with respect to such subsequent appreciation until such Net Loss has been recovered.

Hatteras Investment Partners is a 100% employee-owned alternative investment boutique. Hatteras Capital Distributors, LLC (“HCD”), a limited use capital acquisition broker and FINRA member broker-dealer, is a wholly owned subsidiary of Hatteras Investment Partners, L.P. HCD may act as a distributing agent or placement agent for the Hatteras Funds and earn fees in connection with the servicing of investors in those Funds. It should be noted that certain directors, officers, and employees of Hatteras Investment Partners, are also registered representatives of HCD.

Personal Trading Hatteras has adopted a code of ethics that complies with SEC Rule 204A-1 under the Investment Advisers Act, including a personal securities trading policy as well as standards of employee conduct. The Code of Ethics governs personal securities transactions of Access Persons of Hatteras that may pose a conflict of interest with the Funds managed by Hatteras. Under the Code of Ethics, Hatteras personnel deemed to be Access Persons are required to report quarterly all their personal securities transactions and to request pre-clearance for certain types of transactions including private placements (inclusive of all private funds), initial public offerings (“IPOs”), and closed-end funds advised by Hatteras. Hatteras will provide a free copy of its Code of Ethics upon request. For a complete copy of the Hatteras Code of Ethics, please call 919.846.2324 or 888.363.2324. In general, Hatteras directors, officers and employees may purchase or sell securities that Hatteras also recommends to the Funds it manages creating a conflict of interest. These purchases or sales must be affected in accordance with Hatteras’s Insider Trading policies and Code of Ethics, which includes a personal trading policy. Personal securities transactions will generally not be allowed in a security which is being actively purchased or sold or is being considered for purchase or sale on behalf of a fund managed by Hatteras. All personal securities transactions by Access Persons in Funds where Hatteras serves as adviser,

must receive pre-clearance which is performed electronically through an automated platform made available through a third-party service provider monitored by the Firm’s Chief Compliance Officer (“CCO”) or designee. All Hatteras Access Persons must submit on an annual basis a complete listing of all personal securities holdings and must certify annually that they have read, understand and have complied with the Hatteras Code of Ethics. Hatteras’s Insider Trading policy prohibits any director, officer, or employee from personally trading public securities on non-public information, including confidential fund information. Hatteras’s Code of Ethics sets forth conduct standards, which requires all employees to comply with the federal securities laws, protect material non-public information, and report to Hatteras’s Chief Compliance Officer any violations. Violations of its Code of Ethics can result in serious sanctions, up to and including dismissal from employment. In addition, Hatteras has strict policies with respect to the receipt of gifts by, or entertainment of, firm employees. Hatteras employees are prohibited from giving or accepting gifts greater than $300. All gifts, regardless of their value, must be reported quarterly to the CCO. Reasonable entertainment by Hatteras’s employees is permitted as long as the entertainment is not based or conditioned on the sales of Hatteras products or services. Additionally, reasonable entertainment by Hatteras’s employees is permitted if it is neither so frequent nor so extensive as to raise any question of appropriateness. The CCO and Hatteras senior management actively monitor compliance with these policies. Certain Hatteras business relationships may give rise to conflicts of interest or perceived conflicts of interest with the firm. Hatteras employees and principals incur meal and entertainment expenses involving or relating to consultants and fiduciaries that are reimbursed by the Firm and must be reported periodically to the CCO. Hatteras employees and principals may individually make charitable and political contributions to these consultants and fiduciaries or related organizations. These arrangements may create a conflict of interest in connection with the consultant's or fiduciary's recommendation of Hatteras’s products to a client or prospect. It is Hatteras’s policy to limit these activities to generally accepted business practices consistent with its fiduciary responsibilities. In no instance, however, are Hatteras employees and principals permitted to seek to improperly influence these consultants and fiduciaries as a result of these expenditures or attempt to interfere with the consultants’ and fiduciaries’ independent decision making. Hatteras recognizes the importance of protecting the non-public personal information when providing advisory and other services. Please contact Hatteras or visit its website at https://www.hatterasinvestmentpartners.com for more information on, or for a copy of, its privacy policies. Hatteras does not sell or provide non-public personal information for marketing purposes to others.

Hatteras has a fiduciary obligation to seek to obtain best execution on behalf of each client (Fund), and brokers are selected with a view to obtaining best execution of transactions. This obligation applies to all circumstances where Hatteras has discretion to trade on behalf of a client (Fund)

account. In accordance with the terms of its investment management agreement with the Funds managed by Hatteras, either directly or via a fund’s sub-adviser, places and executes orders for the purchase and sale of securities. In general, investment decisions for each Fund are made independently and are made with specific reference to the individual needs and objectives of each Fund. It is the policy of the Funds to obtain the best results in connection with affecting its portfolio transactions taking into account factors similar to those expected to be considered by Hatteras. In most instances, certain Funds will purchase interests in a Underlying Fund or investment security directly from the Underlying Fund or investment security, and such purchases by the Funds may be, but are generally not, subject to transaction expenses. Nevertheless, the Funds contemplate that consistent with the policy of obtaining the best net result, any brokerage transactions of the Funds may be conducted through affiliates of Hatteras. Hatteras must seek to obtain best execution, which the SEC generally describes as a duty to execute securities transactions so that a client’s total costs or proceeds in each transaction are the most favorable under the circumstances. The SEC also has stated that when seeking best execution, the determinative factor is not the lowest possible cost, but whether the transaction represents the best qualitative execution. Accordingly, Hatteras will consider the full range and quality of a broker’s services, including execution capability, commission rate, financial responsibility, and responsiveness to the Adviser. Hatteras may also periodically and systematically evaluate the performance of broker-dealers executing their transactions. Hatteras will seek to obtain best execution for brokerage transactions for the Funds, as its client. Additionally, Hatteras may utilize a broker/dealer to act as an agent in a private transaction, at which time Hatteras will determine the broker/dealer to be used and may negotiate the commission to be paid. Hatteras may utilize the investment banking services of a nonaffiliated broker/dealer to introduce investment opportunities to the Funds managed by Hatteras. In this scenario, the investment bank is typically compensated on a contingency basis by the entity that is raising capital. Hatteras has not, but may, negotiate on the compensation earned by the investment bank in this type of transaction. Additionally, Hatteras has in place guidelines for the Hatteras Registered Funds (i.e., 17d-1 procedures) that must be followed to provide assurance that a Fund and its affiliated persons do not engage in prohibited joint transactions in connection with the fund’s investment activities, e.g., primary and secondary investments, direct debt/equity investments and investments in listed private equity vehicles. Hatteras does not directly utilize soft dollars or generate soft dollar credits via trades with brokers. Sub-Advisers to the Funds may utilize soft dollars or generate soft dollar credits. Each sub-adviser is required to adhere to the Hatteras Soft Dollar Arrangement Policies. Any soft dollar arrangements are disclosed to the respective fund’s board and appropriate reporting of any such soft-dollar or “mixed-use” credits and expenses are reported on a quarterly basis. In addition, it is currently the policy of Hatteras to prohibit directed brokerage arrangements. When Hatteras determines that it would be appropriate for one or more Funds managed by Hatteras to participate in an investment transaction in the same investment at the same time, it will attempt to aggregate, place and allocate orders on a basis that Hatteras believes to be fair and equitable and consistent with its responsibilities under applicable law. Decisions in this regard are necessarily subjective and there is no requirement that all Funds participate, or participate to the same extent as other accounts, in all investments or trades. However, no participating entity

or account will receive preferential treatment over any other and Hatteras will take steps to ensure that no participating entity or account will be systematically disadvantaged by the aggregation, placement and allocation of orders and investments. Situations may occur, however, where a Fund managed by Hatteras could be disadvantaged because of the investment activities conducted by Hatteras for other Funds. Such situations may be based on, among other things, the following: (1) legal restrictions or other limitations on the combined size of positions that may be taken for the Hatteras Funds, thereby limiting the size of the Hatteras Funds’ positions or the availability of the investment opportunity; (2) the difficulty of liquidating an investment for the Hatteras Funds where the market cannot absorb the sale of the combined positions; and (3) the determination that a particular investment is warranted only if hedged with an option or other instrument and there is a limited availability of such options or other instruments. In particular, the Hatteras Funds may be legally restricted from entering into “joint transactions” (as defined in the 1940 Act) with respect to the securities of an issuer without first obtaining exemptive relief from the SEC.

Hatteras may enter into compensation arrangements with solicitors for new business, including arrangements with its affiliates. Any solicitation arrangements will comply with the Investment Advisers Act of 1940 pursuant to which persons introducing new client accounts may receive a portion of the advisory fee and does not result in any additional charge to the client. Hatteras may assist some solicitors or placement agents in defraying costs of attending its due diligence and educational meetings. Hatteras may sponsor due diligence trips where solicitors may conduct due diligence and attend presentations by Hatteras’s associates and managers. Hatteras may sponsor lunches and/or dinners during due diligence trips. Hatteras will seek to ensure that the locations of the meetings are appropriate to their purpose. Attendance at the meetings is not conditioned on the achievement of any previously specified sales target. Practical and reasonable expense reimbursements may be applied to the travel and lodging expenses of those conducting due diligence, however, there will be no cash compensation paid to any financial advisors in connection with their attendance at the meetings (e.g., appearance fees or attendance fees). Financial advisors will not receive any non-cash compensation in connection with their attendance at any meeting, nor will Hatteras gift any leisure activities such as golf, theater tickets, etc.

The Firm and certain of its affiliates and current or former principals have been named as defendants in multiple civil legal proceedings relating to the management, operation, and liquidation of certain Hatteras-sponsored funds. All proceedings are currently pending unless otherwise noted below, and the Firm is unable to predict their ultimate outcome. Miley, et al. v. Perkins, et al. (U.S. District Court for the District of Delaware; originally filed in the Court of Chancery of the State of Delaware on April 17, 2024, and amended May 16, 2025). Plaintiffs allege tortious interference with contractual and unitholder voting rights in connection with the Hatteras Plan of Liquidation. The matter is currently pending. Longboat Capital, LLC v. Hatteras Evergreen Private Equity Fund, LLC, et al. (District Court of Harris County, Texas; filed April 29, 2024). Plaintiff alleges breaches of fiduciary duty, breach of contract, and fraud in connection with the management and operation of a fund, including access to books and records. The matter is currently pending. Meyer, et al. v. Hatteras Investment Partners, L.P., et al. (Superior Court, Wake County, North Carolina; filed September 4, 2024). This derivative action alleged breaches of fiduciary duties in connection with the management of a Hatteras-sponsored fund. The matter has been dismissed. Weatherspoon Family LLC v. Hatteras Investment Partners, L.P., et al. (Superior Court, Wake County, North Carolina; filed December 4, 2024). This derivative action alleged breaches of fiduciary duties in connection with the management of a Hatteras-sponsored fund. The matter has been dismissed. YWCA of Rochester and Monroe County v. Hatteras Funds, LP, et al. (Court of Chancery of the State of Delaware; filed December 6, 2024). Plaintiff alleges breaches of fiduciary duty, breach of contract, unjust enrichment, fraud, and related claims in connection with the management and operation of Hatteras-sponsored funds. The matter is currently pending. Mattia v. Hatteras Investment Partners, L.P., et al. (Court of Chancery of the State of Delaware; filed May 14, 2025). This derivative action alleged breaches of fiduciary duty and unjust enrichment in connection with the management of a Hatteras-sponsored fund. The matter has been dismissed.

Templeton Revocable Trust v. Hatteras Funds, LP, et al. (Court of Chancery of the State of Delaware; filed May 16, 2025). This derivative action alleges breaches of fiduciary duty, unjust enrichment, and related claims in connection with the management of a Hatteras-sponsored fund. The matter is currently pending. On January 27, 2026, the Firm received a Wells Notice of the SEC’s investigation of alleged violations of Sections 206(1),(2),and (4) of the Investment Advisers Act of 1940 and Rule 206(4)8 thereunder arising from the management of Hatteras-sponsored funds. The Wells Notice provided Hatteras the opportunity to submit a response regarding the proposed recommendations. Counsel for Hatteras subsequently discussed the matter with the SEC. On September 18, 2026, the SEC found that Hatteras Investment Partners, LP and David B. Perkins willfully violated Section 206(2) of the Investment Advisers Act of 1940 in connection with a transaction involving Beneficient and funds advised by HIP. The SEC ordered HIP and Perkins to cease and desist from future violations and censured both. Perkins was also ordered to pay a $250,000 civil monetary penalty. The matter was resolved through settlement without an admission of the SEC’s findings, subject to a limited exception for Perkins under certain federal bankruptcy provisions.

The Hatteras Master Fund, L.P., the Hatteras Core Alternatives Fund, L.P., the Hatteras Core Alternatives TEI Fund, L.P., the Hatteras Core Alternatives Institutional Fund, L.P., the Hatteras Core Alternatives TEI Institutional Fund, L.P., the Hatteras Evergreen Private Equity Fund, LLC, the Hatteras Evergreen Private Equity TEI Fund, LLC, the Hatteras Global Private Equity Partners Institutional Fund, LLC, the Hatteras GPEP Fund, L.P. and the Hatteras GPEP Fund II, LLC, each remain in a Plan of Liquidation. Please see the descriptions under Item 4 for each applicable Fund for further details regarding the Plan of Liquidation.

Hatteras does not have actual physical custody of any client account or any client funds or securities including the Hatteras Registered Funds which are custodied by a qualified independent custodian unaffiliated with Hatteras or HCD. Hatteras may be deemed to have custody under Investment Advisers Act Rule 206(4)-2, as amended, in relation to the Funds Hatteras manages, as Hatteras serves as both Adviser and General Partner to the Hatteras Limited Partnerships. Actual custody of all assets held within the portfolios of the Hatteras Limited Partnerships is maintained with a qualified independent custodian. Hatteras complies with Rule 206(4)-2 in these instances by ensuring that an independent accounting firm registered with, and subject to regulatory inspection by the Public Company Accounting Oversight Board (“PCAOB”) audits the Hatteras Limited Partnerships annually and the audited financial statements are distributed to the Limited Partner investors either within 120 days of the fiscal year end of each applicable Fund and within 180 days of the fiscal year end of each applicable fund of funds. Clients should carefully review the statements sent directly by the qualified independent custodian.

Hatteras provides investment management services to registered investment companies and private funds (together the “Funds”) on a discretionary basis and provides investment advisory services to private funds on a nondiscretionary basis. The investments of the Funds are managed in accordance with the investment objectives, strategies and guidelines as outlined in the current registration statement and are not tailored to any particular investor in the Funds. Hatteras does not provide individualized investment advice to investors.

A copy of Hatteras’s complete proxy voting policies and procedures may be obtained upon request by calling, toll-free, (888) 363-2324. Hatteras’s Policies and Procedures pursuant to Rule 206(4)6 under the Advisors Act relating to Proxy Voting are summarized below. Generally, Hatteras will conduct a thorough review and analysis of the underlying company’s proxy statements. The fundamental purpose that underlies the proxy voting policies and procedures is to ensure that each vote will be in a manner which reflects the best interest of the Funds and, in Hatteras’s reasonable belief, maximizes the value of each fund’s investment. As detailed in Item 8, on December 7, 2021, the Hatteras Core Alternatives Funds (“the Funds”) exchanged all the Funds’ underlying investments for an equivalent amount of Beneficient Preferred Series B-2 Unit Accounts (the “Preferred B-2 Units”). On June 7, 2023, the Fund’s position in the Beneficient Preferred Series B-2 Unit Accounts converted to Beneficient Class A common stock. The Firm previously held an equity security position that was fully liquidated in 2025 and, as a result, does not currently hold any equity securities for which proxy voting would be applicable. Closed-End Funds and Limited Partnerships (i.e., Private Funds)

Hatteras serves as a fiduciary to vote proxies on behalf of the closed-end funds and limited partnerships (together, the “Funds”) the Firm manages. Prior to December 7, 2021, when the Funds exchanged all of their underlying investments for Preferred B-2 Units, the Funds invested substantially all of their assets in Adviser Funds and other investment securities (collectively, “Underlying Funds”), which included, but were not limited to, private partnerships, limited liability companies, direct company investments, investment securities or similar entities. Investments in Underlying Funds do not typically convey traditional voting rights to the holder and the occurrence of corporate governance or other notices for this type of investment is substantially less than that encountered in connection with registered equity securities. On occasion, however, Hatteras and/or the Funds may have received notices from such Underlying Funds seeking the consent of holders in order to materially change certain rights within the structure of the security itself or change material terms of the Underlying Funds’ limited partnership agreement, limited liability company operating agreement or similar agreement with investors. To the extent that the Funds received notices or proxies from Underlying Funds (or received proxy statements or similar notices in connection with any other portfolio securities), the Funds delegated proxy voting responsibilities with respect to the Funds’ portfolio securities to Hatteras, with the direction that proxies should be voted consistent with the Funds’ best economic interests. In general, Hatteras believes that voting proxies in accordance with the policies below are in the best interests of the Funds. If an analyst, trader or partner of Hatteras believes that voting in accordance with stated proxy-voting guidelines would not be in the best interests of a fund, the proxy will be referred to Hatteras’s Director of Operations for a determination of how such proxy should be voted. If a proxy includes a matter to which none of the specific policies described above or in Hatteras’s stated proxy-voting guidelines is applicable or a matter involving an actual or potential conflict of interest as described below, the proxy will be referred to Hatteras’s Director of Operations for a determination of how such proxy should be voted. In exercising its voting discretion, Hatteras and its employees seek to avoid any direct or indirect conflict of interest presented by the voting decision. If any substantive aspect or foreseeable result of the matter to be voted on presents an actual or potential conflict of interest involving Hatteras (or an affiliate of Hatteras), any issuer of a security for which Hatteras (or an affiliate of Hatteras) acts as sponsor, adviser, manager, custodian, distributor, underwriter broker or other similar capacity or any person with whom Hatteras (or an affiliate of Hatteras) has an existing material contract or business relationship not entered into in the ordinary course of business (Hatteras and such other persons having an interest in the matter being called “Interested Persons”), Hatteras will make written disclosure of the conflict indicating how Hatteras proposes to vote on the matter and its reasons for doing so. If Hatteras does not receive timely written instructions as to voting or non-voting on the matter, Hatteras may take any of the following actions which it deems to be in the best interests of the Funds: (i) engage an independent third party to determine whether and how the proxy should be voted and vote or refrain from voting on the matter as determined by the third party; (ii) vote on the matter in the manner proposed to the Independent Directors (if applicable) if the vote is against the interests of all Interested Persons; or (iii) refrain from voting on the matter. Hatteras Registered Funds are required to file Form N-PX, with their complete proxy voting record for the twelve months ended June 30th, no later than August 31st of each year. Each of the Funds’ Form N-PX filings are available: (i) without charge, upon request, by calling 888.363.2324, or (ii) by visiting the SEC’s website at www.sec.gov.

Hatteras does not require or solicit prepayment of more than $1,200 in fees per Fund, six months or more in advance and therefore is not required to include a balance sheet with this brochure. Hatteras has no financial commitment that impairs its ability to meet contractual and fiduciary commitments to the Funds managed by Hatteras and has not been the subject of a bankruptcy proceeding.