PETRICHOR HEALTHCARE CAPITAL MANAGEMENT LP

Petrichor Healthcare Capital Management LP (“Petrichor”) is a Delaware limited partnership that was formed in January 2017. Petrichor currently offers discretionary investment advisory services to Petrichor Opportunities Fund I LP, Petrichor Opportunities Fund I Intermediate LP, Petrichor Opportunities Fund I Offshore LP, and POF I Co-Invest LP privately offered to qualified investors in the United States and elsewhere (each an “Investor” and collectively “Investors”). Petrichor is owned by Tadd S. Wessel. Scion Life Sciences Management, LLC (“Scion”) is a Delaware limited liability company that was formed in 2021. Scion currently offers discretionary investment advisory services to Scion Life Sciences I, LLC (collectively, with the Petrichor advised pooled investment vehicles, the “Funds”) privately offered to qualified investors in the United States and elsewhere. Scion is owned by Samuel W. Hall, Aaron M. Kantoff, and Tadd S. Wessel. For the purposes of this Brochure, the “Firm” refers to Petrichor and Scion. The Firm provides discretionary investment management services to the Funds pursuant to investment guidelines within the relevant governing and offerings documents (the “Offering Documents”). The Firm does not tailor its services to individual Fund investors nor provide investors with the right to specify, restrict, or influence the Fund’s investment objectives or any investment or trading decisions. The Firm is responsible for providing day-to-day managerial and administrative services to the Funds and has full discretion to make, evaluate and monitor Fund investments in a manner consistent with the investment objective and strategy. The Firm does not participate in wrap fee programs. As of December 31, 2025, the Firm managed approximately $966,491,168 in regulatory assets under management, all of which are managed on a discretionary basis. The Firm does not manage any assets on a non-discretionary basis.

The Firm’s fees and compensation are fully described in the Funds’ Offering Documents. Pursuant to the Offering Documents, Petrichor receives a management fee during the investment period payable at the maximum rate of 2% per annum on Fund commitments, prorated for partial quarters. Following the investment period, Petrichor will receive a management fee payable at a reduced fee on the lesser of Fund commitments or the fair market value of Fund investments, pro-rated for partial quarters. Petrichor deducts management fees directly from the Fund’s assets, quarterly in advance. In general, the proration of management fees is calculated based on the number of days remaining in the applicable quarter, and it would be Petrichor’s policy to refund management fees on a prorated basis upon the termination of Petrichor’s investment management agreement with the Funds. Petrichor renders its services to the Funds at its own expense, including its overhead expenses such as salaries and fringe benefits of its personnel, rent, office equipment, newspapers and other mass-market periodicals, computer equipment, data processing, utilities of any office space maintained, office supplies, secretarial services, and any other overhead-type expenses. All other expenses are borne by the Funds, including operating expenses such as private placement fees, appraisal fees, brokerage fees, expenses relating to hedging, legal and accounting fees, taxes and other governmental charges levied against the Fund, regulatory

expenses, “broken deal” expenses, interest expenses incurred in respect of indebtedness, reimbursement of the Funds’ pro-rata share of any reasonable expenses of the Advisory Committee, and other fees or expenses determined by the Advisory Committee to be related to the Fund’s affairs. The inclusion of an expense category in a Fund’s Offering Documents will not impose on Petrichor an obligation to charge an expense (or the full amount of that expense) to that Fund; instead, permitted expenses will be allocated and charged in Petrichor’s discretion to the Fund(s) it deems appropriate. Transaction fees, advisory fees, directors’ fees, investment banking fees, break-up fees, and other similar fees received by Petrichor relating to Fund investments will first be applied to unreimbursed expenses of Petrichor related to the applicable transaction, with 80% of the excess of any such fees applied to offset and reduce future management fees. Organizational expenses up to $1.25 million would have been paid by the Funds, with any excess serving to reduce management fees. Additional information regarding fees and other expenses can be found in each Fund’s Offering Documents. Scion receives operating expense amounts as more fully described in the Scion Life Sciences I, LLC governing documents. The operating expenses charged to Scion Life Sciences I, LLC are reduced by the amount of any transaction fees, break-up fees, advisory fees, director’s fees, monitoring fees, and other similar fees received by Scion or its affiliates. The Funds have entered into letter agreements or other similar agreements (collectively, “Side Letters”) with one or more investors that alter, modify or change the terms of the interests held by such investors. Side Letters provide such investor(s) with additional and/or different rights (including, without limitation, with respect to the carried interest, management fee, withdrawal rights, informational rights or other rights) than the other investors.

Methods of Analysis & Investment Strategy The Firm focuses primarily on structured growth investments in the healthcare sector. Although the Funds are permitted to invest across all sectors of healthcare including products and services, the Funds will target Pharmaceuticals & Biopharmaceuticals, Medical Technology, and Diagnostics. The Firm’s investment strategy is centered on providing investors with attractive returns with the objective to (i) offer equity-like upside returns, (ii) provide downside credit protection, and (iii) generate attractive cash yield. The Firm has defined the key investment criteria to deliver on this objective including the following (i) differentiated commercial products or services; (ii) strong operational capabilities; and (iii) intellectual property protection. The Firm’s investment professionals have extensive prior investment experience that is consistent with the Fund’s investment strategy. Thus, the investment team has unique insight into designing and underwriting structured investments with a proven track record of generating attractive returns for investors. Risk of Loss Factors The Firm’s investment strategy involves significant risks. A discussion of certain material risks is provided below. For a more complete list of expected risk factors, prospective Fund investors are urged to review the respective Fund’s Offering Documents. General. All investments risk partial or total loss of capital. No guarantee or representation is made that the Fund will achieve its investment objective or that investors will not lose all or substantially all of their investment in the Fund. The nature of the investments made by the Funds and the investment techniques and strategies to be employed in an effort to increase profits may increase the risk. Many unforeseeable events, including actions by various government agencies and domestic and international political events, may cause sharp fluctuations in the value of the investments owned by the Fund. Any given investment made by the Funds may prove to be worthless. An investment in the Funds should only be considered by persons who can afford a loss of their entire investment. Debt Securities. The Funds have the ability to hold debt and debt-related instruments issued by or in respect of companies in which it invests. “Credit risk” refers to the likelihood that an issuer will default on the payment of principal and/or interest on a debt instrument. Financial strength and solvency of an issuer are the primary factors influencing credit risk. In addition, lack or inadequacy of collateral or credit enhancement for a debt instrument will affect its credit risk. Credit risk is subject to changes over the life of an instrument. “Interest rate risk” refers to the risks associated with market changes in interest rates. Interest rate changes typically affect the value of a debt instrument directly (particularly in the case of instruments the rates of which are adjustable) and indirectly (particularly in the case of fixed rate

securities). In general, rising interest rates will negatively impact the price of a fixed rate debt instrument and falling interest rates will have a positive effect on price. Adjustable-rate instruments also react to interest rate changes in a similar manner although generally to a lesser degree (depending, however, on the characteristics of the reset terms, including the index chosen, frequency of reset and reset caps or floors, among other factors). Interest rate sensitivity is generally more pronounced and less predictable in instruments with uncertain payment or prepayment schedules. Subordinated Loans. While the Funds seek to originate primarily first-lien loans, at times they will acquire and/or originate subordinated loans, which will entail risks, including (i) the subordination of the Fund’s claims to a senior-lien in terms of the coverage and recovery of the collateral, (ii) the prohibition of or limitation on the right to foreclose or exercise other rights and (iii) the inability of the Funds to make certain decisions with respect to the obligor pursuant to any inter-creditor or similar arrangement with the first-lien lender. Accordingly, in certain cases, no recovery may be available from a defaulted subordinated loan. The level of risk associated with investments in subordinated loans increases to the extent such investments are loans of distressed or below investment grade issuers, which is likely. Equity Investments. The Funds’ investments include equity securities or derivatives with respect thereto or issued thereon. Such equity securities and derivatives may take various forms, including, but not limited to, common stock, preferred stock, warrants, convertible securities, equity options and other equity or hybrid equity securities. Equity securities generally represent the most junior position in an issuer’s capital structure and, as such, generally entitle holders to an interest in the assets of the issuer, if any, remaining after all more senior claims to such assets have been satisfied. Holders of common stock generally are entitled to dividends only if and to the extent declared by the directors of the issuer, out of the issuer’s income or other assets available, if any, after making interest, dividend and any other required payments on more senior securities of the issuer. Convertible securities generally offer lower interest or dividend yields than non-convertible securities of similar quality. In the event of a liquidation of the issuing company, holders of convertible securities would be paid after the company’s creditors but before the company’s common stockholders. Consequently, the issuer’s convertible securities generally are viewed as having more risk than its debt securities, but less risk than its common stock. In general, options, warrants, stock purchase rights and other similar instruments are securities or instruments granting the right to or otherwise permitting, but not obligating, their holders to subscribe for equity securities, and they do not represent any rights in the assets of the issuer. As a result, options, warrants, stock purchase rights and other similar securities or instruments are typically considered more speculative than other types of equity investments. Liquidity of Investments. Many of the Funds’ investments will be subject to liquidity-related risks, particularly the risk that the Funds will be unable to dispose of such investments by sale or other means at attractive prices or will otherwise be unable to complete any exit strategy. Among others, these risks include changes in the financial condition or prospects of the entity in which the investment is made. It is not generally expected that private securities acquired by the Funds will eventually be registered and listed on a securities exchange. Absent registration, the Funds will not be able to sell such securities unless an exemption from such registration requirements is available. In addition, in some cases the Funds may be prohibited by contract or regulatory restrictions from selling such securities for a period of time. To the extent that there is no liquid trading market for an investment, the Funds may be unable to liquidate that investment or may be unable to do so at a profit. Moreover, there can be no assurances that private purchasers for the Funds’ investments will be found. Reliance on Management. Investors do not have an opportunity to select or evaluate any Fund investments. Control over the operations of the Funds, including selecting, structuring,

negotiating, purchasing, financing, and divesting all Fund investments will be vested with the relevant General Partners, and the quality of their decisions will depend largely upon the business and investment acumen of the Firm and its personnel, and will therefore dictate the Funds’ success or failure. In addition, the business and prospects of the Firm (and by extension, the Funds) could be materially and adversely affected by the death or incapacity of Mr. Wessel or any senior personnel of the Firm. There can be no assurance that such personnel will continue to be associated with or remain in the same roles at the Firm, and a loss or reduction of service of the Firm could have an adverse effect on a Fund’s ability to realize its investment objectives or avoid losses. Further, if the Funds were to incur substantial losses, the revenues of the Firm could decline substantially. Such losses may impair the Firm’s ability to retain employees, provide the same level of service to the Funds and continue operations. Side Letters. As noted in Item 5 above, in connection with or as a condition to an investor’s agreement to invest in a Fund, the Fund or its General Partner is permitted to enter into a “side letter” or similar agreement with an institutional or other investor pursuant to which the Fund or its General Partner grants the investor specific rights, benefits or privileges that are not generally made available to all investors. Such rights, benefits or privileges include waivers or discounts on management fees and/or carried interest, “most favored nation” clauses, preferential access to co-investment opportunities, notice rights upon the occurrence of certain events, specialized or additional reporting rights, rights related to tax treatment, rights related to regulatory matters, rights related to immunities or indemnification, rights related to the ability of the investor to transfer its interest in the Fund, additional representations and warranties from the Fund, its general partner and/or the Firm, modifications to the subscription agreement and/or other related benefits. While the ability of a Fund or its general partner to enter into a side letter or similar agreement affording preferential rights to certain investors will generally be disclosed to other investors in the Fund, the specific terms of such “side letters” or similar agreements are generally not disclosed to other investors in the Fund, except to investors that have separately negotiated for the right to review such agreements. Co-Investment Opportunities. From time to time the General Partner or the Firm offers limited partners or third parties the opportunity to co-invest alongside the Funds in certain investment opportunities in its sole discretion, is not expected to offer co-investment with respect to all investments, and is permitted to allocate any such opportunities as described in the Funds’ Offering Documents. The Firm or an affiliate thereof has formed and may form in the future, committed co-investment vehicles to participate alongside the Funds in investment opportunities that the General Partner has determined in good faith exceed prudent diversification levels for the Funds. The General Partner, in its discretion, may determine to only offer participation in a committed co-investment vehicle to select investors. The allocation of co-investment opportunities involves a benefit to the General Partner, the Firm or one or more of their respective affiliates, including, without limitation, management fees, carried interest or other transaction-based compensation in connection with the coinvestment opportunity. As a result, the General Partner and its affiliates may be subject to conflicting interests with respect to offering co-investment opportunities. Investment Allocations. Potential conflicts are expected to arise when and to the extent a Fund makes investments in conjunction with an investment being made by another Fund, or if it were to invest in the securities of a company in which another Fund has already made an investment. A Fund may not, for example, invest through the same investment vehicles, have the same access to credit or employ the same hedging or investment strategies as other Funds. This is likely to result in differences in price, terms, leverage and associated costs. Investments by more than one client of the Firm also have the potential to raise the risk of using assets of one client of the Firm to support positions taken by other clients. Where multiple Funds invest or consider investments in the same company at different times, the first Fund to invest

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The Firm provides discretionary investment advice solely to its Fund clients, and references throughout this Brochure to “clients” and to the Firm’s related duties and practices on behalf of its clients and/or investors should be construed accordingly. The Investors participating in the Funds are generally “qualified purchasers” (as defined under the 1940 Act). The minimum initial investment in the Funds is generally $5 million, subject to the applicable Fund general partner’s or manager’s, as applicable (the “General Partner”), discretion to accept lesser amounts.

The Firm or its related persons receive carried interest from the Funds, subject to the terms set forth in the Offering Documents. Performance-based fees will also create various conflicts of interests, including an incentive for the Firm to favor Funds with higher performance-based fees over Funds with lower performance-based fees. However, the Firm is committed to fulfilling its fiduciary duty to the Funds to act at all times in their best interests. The Firm has implemented internal controls regarding trade and investment allocation to address the potential conflicts associated with performance-based fees. Additionally, the Firm’s allocation policies are designed to ensure investment opportunities are allocated fairly over time and allocations are not determined based on the desire to earn a performance-based fee. Additionally, it should be noted that such performance-based compensation creates a potential conflict of interest in that it incentivizes the Firm or its related persons to recommend investments that are riskier or more speculative than would be the case absent this performance-based compensation. As such, the Firm has implemented policies for approving investments that are intended to mitigate the potential conflict of interest associated with performance-based compensation, so that over time its Funds are treated in a fair and equitable manner with respect to the allocation of investment opportunities. Investors in the Funds are informed of the performance-based compensation in the Offering Documents.

Petrichor Opportunities Fund I GP LLC serves as the General Partner to Petrichor Opportunities Fund I LP, Petrichor Opportunities Fund I Intermediate LP, and Petrichor Opportunities Fund I Offshore LP. PHCM Co-Invest GP LLC serves as the General Partner to POF I Co-Invest LP. Neither Petrichor nor any of its management persons are registered, or have an application pending to register, as a broker-dealer or a registered representative of a broker-dealer. Scion, an affiliate and “relying adviser” of Petrichor, manages Scion Life Sciences I, LLC, an entity formed to invest in biotechnology companies created by the Scion team to develop innovative therapeutics with the potential to meaningfully advance or transform the treatment of serious diseases. Tadd Wessel is a co-owner of Scion. Petrichor and Scion share back-office operations and facilities. Petrichor and its affiliates will not be restricted from forming additional investment funds that do not compete with Scion, from entering into other investment advisory relationships or from engaging in other business activities, even if such activities could involve substantial time and resources of the general partner, its affiliates or personnel. These activities could be viewed as creating a conflict of interest in that the time and effort of certain Petrichor personnel will not be devoted exclusively to the business of Petrichor.

Personal Trading Code of Ethics Pursuant to Rule 204A-1 of the Investment Advisers Act of 1940 (the “Advisers Act”) The Firm has adopted a Code of Ethics (the “Code”), which is designed to ensure that the Firm and its employees conduct business in accordance with all applicable laws and regulations and in an ethical and professional manner. All employees of the Firm assume a duty of loyalty, fairness and good faith towards the Funds and underlying investors, which includes an obligation to adhere not only to the specific provisions, but to the general principles that guide the Code. The Code was adopted to avoid possible conflicts of interest, avoid the inappropriate use of material, non-public information and ensure the propriety of Firm employees’ trading activity. The Firm will provide a copy of the Code to any current or prospective client or investor upon request. Personal Trading Pursuant to Rule 204A-1 under the Advisers Act, Petrichor has adopted the Code and a Personal Trading Policy, as defined within the Code. The Personal Trading Policy imposes certain restrictions on the personal securities trading of employees and any family member living in the same household or to whom employees provide primary financial support. Such restrictions include obtaining pre-approval for certain trades or private transactions and reporting certain trading activities and securities holdings on an initial and annual basis thereafter. Additionally, the Firm maintains a “Restricted List” of companies and securities on which a determination has been made that it is prudent to restrict trading activity by the Firm and its employees. In order to abide by the Personal Trading Policy, all Firm employees must obtain pre-clearance from the Firm’s Chief Compliance Officer (“CCO”) or designee prior to executing certain trades and participating in certain investments, so the Firm can determine whether or not the transaction currently poses or could pose a potential conflict to the Funds. Additionally, employees must direct or make available duplicate copies of their brokerage statements to the CCO or designee in order to assist the Firm in monitoring compliance with the Firm’s Personal Trading Policy. Neither the Firm, nor any of its related persons, recommend that any Fund acquire or sell securities in which the Firm, or any related person has a material financial interest. As a matter of general practice, neither the Firm, nor any of its related persons, acquire or sell securities that are also recommended to the Funds. Directors and Officers. Certain employees of the Firm serve as directors or officers of entities through which investments by the Funds are held. Co-Investment Opportunities. The Firm is permitted to offer investment opportunities, including co-investment opportunities through SPVs, in certain Fund investments to existing investors or third parties. In certain cases, when an SPV is formed, such entity will bear expenses related to its formation and operation, many of which are similar in nature to those borne by the other Funds. To the extent the Firm or the general partners receive any compensation or fees as a result of such co-investment arrangement, such fees are neither payable to the Funds nor credited against future management fees.

In placing portfolio transactions for the Fund, the Firm seeks to obtain the best execution for the Fund, which takes into account a number of the following factors, among others: price, timeliness of execution, the availability of financing, the financial stability and reputation of a broker, the value of research, brokerage and other services provided, the responsiveness of a broker-dealer, a broker-dealer’s financial resources, counterparty credit risk, and access to liquidity for certain less liquid products. Selection of Brokers In placing each transaction for the Funds involving a broker or dealer, the Firm will seek “best execution” in such particular transactions executed on behalf of the Funds. The Firm's investment team and the CCO or a designee will periodically evaluate the Firm's brokerdealers based upon several factors, including but not limited to: (i) execution quality, (ii) research services, and (iii) availability and quality of electronic trading, among other factors. In particular, the Firm’s review will focus on the quality of each broker-dealer’s services and its performance in each category. The Firm will periodically review the selection, execution, commissions, pricing, services and performance of its brokers, and such best execution review will occur no less than annually. Research and Other Soft Dollar Benefits Section 28(e) of the Securities Exchange Act of 1934, as amended, is a “safe harbor” that permits an investment manager to use commissions or “soft dollars” to obtain research and brokerage services that provide appropriate assistance in the investment decision-making process. The Firm does not currently have any soft dollar relationships or agreements in place and does not receive any research or any other soft dollar benefits or investor referrals from broker-dealers in connection with Fund transactions. To the extent that the Firm engages in soft dollar arrangements in the future, the Firm complies with the safe harbor requirements of Section 28(e) of the Securities Exchange Act of 1934. Trade Error Policy Subject to applicable law and the Firm’s Trade Error Policy, the Firm will generally reimburse the Fund for losses that occur as a result of trade errors resulting from the Firm’s willful default or gross negligence, as determined by the Firm in good faith.

The Firm has adopted Rule 206(4)-1 of the Advisers Act, (the “Marketing Rule”), as amended, and complies with the endorsement provisions of the Marketing Rule when engaging with third-party placement agents. Presently, the Firm does not compensate any person for Client referrals nor does it maintain any other solicitation arrangements. Furthermore, no one, other than the Firm’s Clients, provides an economic benefit to the Firm for providing investment advice or other advisory services to the Clients.

The Firm has not been subject to any disciplinary action, whether criminal, civil or administrative, including regulatory, in any jurisdiction. Likewise, no persons involved in the management of the Firm have been subject to such actions. The Firm has no material legal or disciplinary events to disclose under this section.

Review of Accounts The Funds’ investments are reviewed on an ongoing basis by the Firm’s investment professionals to assure conformity with the investment objectives and guidelines set forth in the Offering Documents. The Firm’s investment committee convenes periodically and when necessary to consider and approve new investment opportunities and material investment decisions regarding the Funds’ existing investments. Reporting

Each limited partner will receive annual audited financial statements for the respective Fund, within 120 days after the end of each fiscal year. The valuation of the Funds’ investments is reviewed and reported to investors through the quarterly unaudited financial statements distributed to investors, pursuant to the respective Fund’s Offering Documents. In addition to the reporting provided to all Investors, the Firm expects to provide certain Investors with additional or more frequent information that other Investors will not receive (e.g., under a Side Letter or in response to a diligence or other requests).

Pursuant to Rule 206(4)-2 under the Advisers Act (the “Custody Rule”), the Firm is deemed to have custody over the assets of the Funds, subject to certain exceptions set forth in the Custody Rule and related guidance. In accordance with the Custody Rule each applicable Fund will ensure that (i) they are audited by an independent public accountant that is registered with, and subject to inspection by, the Public Company Accounting Oversight Board, (ii) the Funds’ audited financial statements are prepared in accordance with U.S. generally accepted accounting principles, and (iii) the Firm delivers such annual audited financial statements to investors within 120 days after the end of each Fund’s fiscal year. The Firm urges investors to carefully review these audited financial statements, as well as the Firm’s reports to investors.

The Firm is responsible for providing day-to-day managerial and administrative services to the Funds and will have full discretion, through the execution of the investment management agreement with the Funds, to make, evaluate and monitor Fund investments in a manner consistent with the investment objective and strategy described in the Offering Documents.

As the Firm primarily makes private equity investments, the Funds typically do not hold the securities of publicly traded companies and would do so only in rare circumstances. In the event that the Funds would come into ownership of such securities or would be asked to vote as shareholders, the CCO will be consulted to ensure that the Funds’ best interests are represented, including through the voting of such securities, whether by the Firm or a thirdparty service provider if needed to address any conflict of interest. Current and prospective clients and Fund investors can obtain a copy of the Firm’s proxy voting policies and procedures, including proxy voting record (if applicable), upon request.

Registered investment advisers are required in this section to provide certain financial information or disclosures about the Firm’s financial condition. The Firm is not aware of any financial commitment that impairs its ability to meet contractual and fiduciary commitments to the Funds or investors and has not been the subject of a bankruptcy proceeding.