Pamplona Capital Management LLC: investment adviser

(“Deanwood TMT”); and 4. Pamplona Equity Partners, L.P. (“PEP Fund”). Fund V is a Cayman-established partnership client whilst PIP LP and Deanwood TMT are established Delaware US partnership client. PEP Fund is a Malta established limited partnership. Fund V, PIP LP, Deanwood TMT and PEP Fund are collectively referred to as the “Partnerships” or the “Funds”. Deanwood TMT Advisors I LLC, Pamplona Equity Advisors V Ltd., Pamplona Equity Partners GP Limited, and Pamplona Investment Advisors LLC, each a “General Partner” to the Funds and hereinafter collectively referred to as the “General Partners.” The Firm co-advises the Investment Manager with Pamplona Capital Management LLP in the UK (“PCM LLP”) as shown in the table hereunder: Fund Name

Investment Advisor PCM LLP

Fund V PIP LP Deanwood TMT PEP Fund

PCM LLC

PCM LLC and PCM LLP are jointly referred to as the “Investment Advisors”. In advising the Investment Manager, the Firm pursues a highly flexible private equity investment strategy across a broad range of asset classes, geographical markets and industry sectors. John Halsted, Alexander Knaster, Joao Saraiva e Silva, Raymond Busuttil and Joseph Grioli make up an investment committee of the Investment Manager which serves as the investment decision-making body of Pamplona’s private equity business (the “Investment Committee”). All members of the Investment Committee have equal voting rights and a majority decision of the voting members who are present at any meeting is required. Investment opportunities are presented to the Investment Committee by members of the Advisory Committee which is made up of representatives from the Investment Advisors. The Investment Manager manages the Partnerships in accordance with its investment objectives, strategies, restrictions and guidelines. Information about the Partnerships can be found in their offering documents, including the Confidential Private Placement Memorandums (the “PPMs”) and Limited Partnership Agreements (the “LPAs”).

In addition, the Fund Monitor reviews quarterly valuations of the Partnerships’ assets and provides such advice and counsel as is requested by the General Partners in connection with the Partnerships’ investments, potential conflicts of interest, and other Partnership matters. As of December 31, 2025 we managed approximately $2,828,838,923 in Regulatory Assets Under Management (“RAUM”) on a discretionary basis.

Fund V During its commitment period Fund V paid the Investment Manager an annual investment management fee of 1.50% per annum, based on the Capital Commitments of the Limited Partner. The commitment period of Fund V expired in May 2023. After the end of the commitment period through the complete winding up of Fund V the management fee payable to the Investment Manager shall be an amount equal to 1.50% respectively per annum of the total cost of Investments held by Fund V, adjusted on a pro rata basis with respect to the portion of Investments no longer held by Fund V and for permanent writedowns of Investments below cost, each as calculated on the first day of each quarter on which the Management Fee is payable or, if applicable, on the first day after the sixth anniversary of the commencement of the Commitment Period. PIP LP Through the complete winding up of PIP LP the management fee payable to the Investment Manager shall be an amount equal to 0.75% per annum of the total cost of Investments held by the PIP LP, adjusted on a pro rata basis with respect to the portion of Investments no longer held by the PIP LP and for permanent write-downs of Investments below cost. There is no remaining cost in PIP LP and therefore no management fees were paid during 2024. Deanwood TMT During the commitment period, Deanwood TMT paid to the Investment Manager an annual investment management fee in an amount equal to 1.50% per annum on the aggregate capital commitment of the Limited Partner. The commitment period of Deanwood TMT ended in November 2020. After the end of the commitment period through the complete winding up of Deanwood TMT the management fee payable to the Investment Manager shall be an amount equal to 1.50% respectively per annum of (i) total called Capital Commitments (excluding called Capital Commitments utilized to pay Deanwood TMT partnership expenses less (ii) total distributions of capital made to Limited Partners in respect of realized investments, and less (iii) total write-offs (and, for the avoidance of doubt, not write-downs) of investments not included in the calculation under clause (ii) above. PEP Fund

During its commitment period PEP Fund paid the Investment Manager an annual investment management fee of 1.50% per annum on the Capital Commitments of the Limited Partner. The commitment period of PEP Fund expired in May 2024. After the end of the commitment period through the complete winding up of PEP Fund the management fee payable to the Investment Manager shall be an amount equal to 1.50% per annum of the total cost of Investments held by the PEP Fund, adjusted on a pro rata basis with respect to the portion of Investments no longer held by the PEP Fund and for permanent write-downs of Investments below cost. The Firm receives a portion of the Fund V, PIP LP, Deanwood TMT and PEP Fund Management Fees from the Investment Manager. Any break-up fees which are paid to the General Partners, Pamplona or its affiliates offsets the Management Fee payable as follows: (i) to the extent that the Partnerships incurred any expenses in connection with the proposed transaction giving rise to such break-up fees, 100% of such break-up fees shall reduce the Management Fee; (ii) thereafter to the extent that the General Partner, Pamplona or any Pamplona Affiliate (other than the Partnerships) incurred any expenses in connection with the proposed transaction giving rise to such break-up fees, 100% of such break-up fees shall be retained by the General Partners, Pamplona or its affiliates; and (iii) thereafter, 75% (for Deanwood TMT) or 100% (for Fund V, PIP LP and PEP Fund) of the balance of such break-up fees shall result in an offset of the Partnerships’ obligation to pay future instalments of Management Fees (beginning with the next instalment due). If the General Partners, Pamplona or any of its affiliates receives any advisory fees, 75% (for Deanwood TMT) or 100% (for Fund V, PIP LP and PEP Fund) of all such advisory fees, net of related expenses incurred by Pamplona and its affiliates, will be applied to offset the Partnerships’ obligation to pay future instalments of Management Fees. Carried Interest Some employees and partners of Pamplona and its affiliates, as partners in the Special Limited Partners, will be apportioned carried interest distributions from the Partnerships based on profits attributable to the Limited Partners (other than the Special Limited Partners) (“Carried Interest”) Net proceeds attributable to investments in portfolio companies to be distributed to Limited Partners will be apportioned among the Limited Partners in accordance with their Capital Commitments utilized by the Partnerships for such investment, and the amount so apportioned to a Limited Partner (other than the Special Limited Partner) is then further apportioned between such Limited Partner and the Special Limited Partner. Payment Method Management fees are paid quarterly in advance either by issuing capital calls to the investors or by making payments from investment proceeds or other cash held by the Partnerships. Expenses Organizational Expenses Subject to any expense limitations that may be described in the LPA for the Partnerships, the Partnerships bear all reasonable legal and other organizational, operating and offering expenses incurred in the formation of the Partnerships and related entities subject to a limit of USD$300,000 for Fund V, USD$10,000 for PIP LP and USD$300,000 for the Deanwood TMT Fund. (“Organizational Expenses”). Investment/Deal Expenses

The Partnerships pay all investment related costs like due diligence costs and professional advisor fees, whether the investment is consummated or not. Operating Expenses Pamplona and/or its affiliates pay all ordinary administrative and overhead expenses in managing investments of the Partnerships, including salaries, benefits and rent. The Partnerships pay all other expenses attributable to the activities of the Partnerships (collectively, “Operating Expenses”) including, without limitation:

legal, accounting, investment banking and other consulting and similar fees;

costs and expenses associated with planning and holding annual and any special meetings of the Partnerships and the Partnership Committees and Partnership Committee fees;

custodian fees, transfer taxes, commissions, brokerage fees and registration expenses incurred on behalf of the Partnerships;

taxes which may be assessed against the Partnerships;

Investment Management Fees; and

any extraordinary fees, costs and expenses of the Partnerships, including litigation expenses.

Fund Monitor fees.

None of the day-to-day expenses of the General Partner, the Special Limited Partners, the Investment Manager and the Advisors, including payroll, compensation and other personnel expenses of their employees, travel costs (unless attributable to an investment), rent and overhead expenses are paid by the Partnerships.

The Firm provides guidance to portfolio companies on acquisitions, major capital outlays as well as strategic support to management. The Firm also assists portfolio companies in raising debt and equity capital. The Firm and its affiliates cause the Partnerships to be active investors to create management accountability and to drive investment performance. The Partnerships will reinforce the alignment of investor and management incentives. The Partnerships obtain investment opportunities by utilizing the Firm’s various industry contacts. We believe that the diverse private equity experience of the Firm and its affiliates enable them to initiate discussions with qualified management teams that may serve as co-investors with the Partnerships. The Firm also draws on their relationship with financial institutions, which can provide investment capital as well as be a source for investment opportunities. Investment banks that have established private equity coverage groups have become a reliable source for identifying potential investment opportunities. By providing investment capital, financial institutions can also enable the Partnerships to make investments that would otherwise be too large. Risk of Loss Factors Investing in securities involves risk of loss that investors should be prepared to bear. Investors should consider the following factors before investing in the Partnerships. The following list of risk factors does not purport to be a complete enumeration or explanation of the risks involved in an investment in the Partnerships. Dependence on Management of Portfolio Companies Although the Investment Committee monitors the performance of each investment, the Partnerships are also dependent on the primary responsibility of management to operate portfolio companies on a dayto-day basis. There can be no assurance that the management teams of portfolio companies will be able to operate portfolio companies in accordance with the Partnerships’ plans.

Priority of Securities The securities in which the Partnerships invest may be the most junior in a portfolio company's capital structure, and thus subject to the greatest risk of loss. Limited Diversification The Partnerships participate in a limited number of investments and, as a consequence, the aggregate return of the Partnerships is effected by the performance of a single investment. Lack of Investments and Competition for Investment Opportunities There can be no assurance that the Firm and its affiliates will be able to identify sufficient attractive investments opportunities and, even when an attractive investment opportunity is identified, the business of structuring private equity transactions is highly competitive and involves a high degree of uncertainty. Inability to Make Follow-On Investments

Following initial investments in portfolio companies, the Partnerships may be called upon to provide additional funds to portfolio companies or may have the opportunity to increase investment in successful operations. There can be no assurance that the Partnerships will be able to make follow-on investments or that the Partnerships will have sufficient resources to make such investments. Any decision not to make follow-on investments or its inability to make them may have a substantial negative impact on portfolio companies in need of such an investment or may result in missed opportunities for the Partnerships to increase its participation in successful operations. Failure to Fund Capital Commitments; Consequences of Default If Limited Partners fail to fund their capital commitments when due, our ability to complete our investment strategy or otherwise to continue operations may be substantially impaired. A default by a substantial number of Limited Partners or by one or more Limited Partners who have made substantial capital commitments would limit opportunities for investment diversification and could reduce returns to the Partnerships. Limited Liquidity An investment in a Partnership is illiquid. Although investments by the Partnerships may generate some current income, the return of capital and the realization of gains, if any, from an investment will generally occur only upon the partial or complete disposition of such investment. While an investment may be sold at any time, it is not generally expected that this will occur for a number of years after the investment is made. It is unlikely that there will be a public market for any of the private securities held by the Partnerships. Accordingly, the Partnerships will generally not be able to sell such securities publicly unless their sale is registered under applicable securities laws or unless an exemption from such registration requirements is available. In addition, in some cases we may be prohibited by contract from selling securities for a period of time. Since there will generally be no readily available market for a substantial number of the Partnerships’ investments, most of the Partnerships’ investments will be difficult to value. Certain investments may be distributed in kind to the Limited Partners. Interests in the Partnership will not be readily marketable, are not redeemable and are not transferable except with the consent of the General Partners, which may be withheld in the General Partners’ sole discretion. There will be no public market for the interests in the Partnerships, and none is expected to develop. Changes in Regulations Legal, tax and regulatory changes could occur during the term of the Partnership that may adversely affect the Partnerships. The regulatory environment for private Partnerships is evolving, and changes in the regulation of private Partnerships may adversely affect the value of investments held by the Partnerships. Regulators and self-regulatory organizations and exchanges are authorized to take extraordinary actions in the event of market emergencies. Conflicts of Interest The Partnerships may be subject to a number of actual and potential conflicts of interest. Certain inherent conflicts of interest may arise from the fact that certain members, partners, officers, employees and its affiliates provide investment management, advisory and other services to the Partnerships and other investment funds and may, in the future, carry on investment activities for other clients, including other collective investment vehicles in which the Partnerships will have no interest, some of which may have similar investment objectives to those of the Partnerships. Leverage The Partnerships may leverage their investments with debt financing at the Portfolio Company level. Utilisation of leverage will result in fees, expenses and interest costs to the Partnerships. Such fees, expenses and interest costs, may differ from those available for prior investments set out in the track

record. Although the use of leverage may enhance returns and increase the number of investments that can be made, it may also substantially increase the risk of loss. Although the Firm will seek to use leverage in a manner it believes is appropriate under the circumstances, the leveraged capital structure of such Portfolio Company investments will increase the exposure of the Portfolio Companies to adverse economic factors such as rising interest rates, downturns in the economy or deteriorations in the condition of the Portfolio Company or its industry which may impair such Portfolio Companies' ability to finance their future operations and capital needs and result in restrictive financial and operating covenants. As a result, such Portfolio Companies' flexibility to respond to changing business and economic conditions may be limited. If, for any of these reasons, a Portfolio Company is unable to generate sufficient cash flow to meet principal and/or interest payments on its indebtedness or similar payments or obligations, the value of the Partnerships’ investment could be significantly reduced or even eliminated. The ability of Portfolio Companies to refinance debt securities may depend on their ability to sell new securities in the public high yield debt market or otherwise, or to raise capital in the leveraged finance debt markets, which historically have been cyclical with regard to the availability of financing. There can be no guarantee that debt facilities will be available to commercially attractive rates throughout the term of the Partnerships (or when due for refinancing) such that the Partnerships or the applicable Portfolio Company will be exposed to less favourable terms or rates upon a refinancing. If a Portfolio Company is unable to refinance its debt or maintain the desired amount of financial leverage, the Partnerships may realize lower than expected returns from the Portfolio Company and may hold a larger than expected equity investment in such Portfolio Company.

Neither we nor any of our affiliates or management persons are currently registered as a broker- dealer, futures commission merchant, introducing broker, commodity trading adviser, or commodity pool operator, nor do any such persons have an application pending or otherwise in process for the purpose of seeking registration as any of these types of firms. Further, none of our management persons are registered as or currently seeking registration as associated persons of any of these types of firms. We keep potential conflicts of interest under review, including relationships such as those mentioned above, and are not currently aware of any material conflicts of interest. We seek to ensure that any conflict of interest (of which we are aware) is resolved fairly.

Covered Persons are also required to obtain pre-approval from the CCO before engaging in any outside business activities or private placements. In addition, Covered Persons may not acquire securities for their own account in an initial public offering. All Covered Persons are required to send duplicate copies of brokerage statements to the CCO. These records are used to monitor compliance with the foregoing policies. This policy does not apply to money market funds, certificates of deposit or open-ended mutual funds. We also have written procedures around the use of Expert Networks. Our Code is available to investors upon request.

We monitor transaction results as orders are executed to evaluate the quality of execution provided by the various brokers and dealers that we use in order to determine that commission rates are competitive and otherwise to evaluate the reasonableness of the commission rates paid to those brokers and dealers in light of all the factors described above.