Topline Capital Management, LLC: investment adviser

McBirney serves as the Portfolio Manager and the Funds are managed in a manner consistent with the investment strategy described in the respective offering documents and not in accordance with the individual needs or objectives of any particular investor therein. In general, investors in the Funds are not permitted to impose restrictions or limitations. As of December 31, 2025, Topline’s regulatory assets under management were approximately $1,134,131,443, all of which are managed on a discretionary basis.

These expenses include, among others, brokerage commissions on portfolio transactions, interest on margin and other borrowings, custodial fees, governmental fees and taxes, costs of reporting to investors, cost of governance activities (such as obtaining investor consents), and all other reasonable expenses related to the management and operation of the Funds or the purchase, sale or transmittal of Fund assets determined at the sole discretion of Topline. Fees and Expenses Absorbed by Topline Topline currently pays the fees of the Administrator for services provided to the Funds but is not obligated to continue to pay this cost, which is customarily borne by the funds. Topline may, in the future, cease its undertaking to cover administration fees and costs upon notice to the Fund investors. Topline has also undertaken to pay for the following Fund operational costs: bookkeeping, accounting, audit and other professional fees and expenses; tax preparation fees; legal fees; expenses Topline incurs for investment research and due diligence; travel and travel-related expenses incurred in connection with investment activities (including attending professional investment and industry specific conferences); and costs of compliance including securities filings.

performance allocation in whole or in part, without notification to other investors. Employees and affiliates of Topline are not subject to performance allocation. The fact that Topline is compensated based on the trading profits may create an incentive for Topline to make investments that are riskier or more speculative than would be the case in the absence of such compensation. In addition, the performance allocation received by Topline is based primarily on realized and unrealized gains and losses. As a result, the performance-based fee earned could be based on unrealized gains that clients may never realize. While not currently applicable to our business, we recognize that the management of funds or accounts with differing terms related to performance-based fees creates potential conflicts of interest, including the risk that an adviser may favor one account over another. If Topline were to manage additional accounts with different fee structures in the future, we would adopt trade allocation policies designed to allocate investments in a fair and equitable manner.

Topline reviews SEC filings, press releases, transcripts, and speaks with management as part of the broader research process and then takes a deeper dive which may involve building models, speaking with customers and competitors, and visiting companies at their headquarters. The Fund generally holds publicly traded stocks, but it does take substantial liquidity risk by investing in stocks that may take 6 or more months to liquidate the entire position. Risks An investment in the Funds is speculative and involves significant risks, including the risk of total loss of invested capital. No assurance can be given that the investment objective will be achieved. Set forth below is a summary of risks, not intended to be all inclusive. Prospective investors should carefully review the expanded summary of risks set forth in the offering documents. Reliance on the General Partner. The success of the Funds depends on the ability of Topline Capital Management, LLC, as Investment Manager and General Partner, and particularly on Collin McBirney, as the portfolio manager, to develop and implement investment strategies to achieve the Fund’s investment objectives. The Fund’s investment performance could be materially adversely affected if Mr. McBirney were to cease to be involved in the active management of the business of the Fund’s portfolio. Mr. McBirney devotes substantially all of his time to managing the Fund’s portfolio. Lack of Investment History. Both the Fund and the General Partner were recently formed and neither has an investment history. Even though Mr. McBirney has substantial experience and track record in the

management of portfolios similar to the Fund’s, his past performance is no guarantee of the Fund’s future success. General Economic and Market Conditions. The success of the Fund’s investments may be affected by general economic and market conditions, such as interest rates, availability of credit, inflation rates, economic uncertainty, changes in laws, developments in governmental regulation and national and international political circumstances. These factors may affect the success of the businesses in which the Fund’s portfolio companies are engaged as well as the markets for the securities the Fund holds. Unexpected volatility or illiquidity could impair the Fund’s profitability or result in losses. Limited Liquidity. An investment in the Fund is relatively illiquid and is not suitable for an investor who needs liquidity. There is no public market for Interests and the Partnership Agreement imposes significant limitations on Limited Partners’ abilities to transfer their Interests. In addition, rights to withdraw capital from the Fund are subject to certain limitations. Equity Securities. The equity and equity-related securities in which the Fund invests will be subject to general movements in the stock market and the value fluctuations of each particular issuer’s stock. Equity security prices fluctuate for several reasons, including changes in the financial condition of a particular issuer, investors’ perceptions of the issuer’s industry, the general condition of the relevant stock market, changes in interest rates, or when political or economic events affecting the issuers occur. Sector Emphasis. The Fund focuses its investments in stocks of companies in the software, payments, healthcare, business services, and gaming industries, and does not diversify its investments across companies representing a broad spectrum of the economy. Stock prices in these sectors can be highly volatile. The Fund will be susceptible to market and other conditions that affect those industries and, as a result, may experience more volatility than the entire market. The market value of these companies may often be based on speculation and expectations about future products and research progress. Some companies in these sectors may be small, less seasoned than larger, well-known companies, their stock may be thinly traded, and their viability may depend on their ability to obtain additional financing at attractive valuations. Companies in these sectors are characterized by competition and rapid technological developments that may make their products or services obsolete in a short period. A company’s ability to compete may depend, at least in part, on its ability to develop, introduce and market products or services that meet changing needs and that successfully anticipate or respond to technological changes on a cost-effective and timely basis. A lack of compatibility with existing or emerging technology, the lack of standardization among competing technologies attempting to serve the same market, a failure to conform to accepted industry standards, or obsolescence can be significant obstacles for such issuers. A company’s ability to compete may also depend on its ability to prevent others from using its technology. Patent and other intellectual property protections may involve legal uncertainties. Due to these and other factors, the Fund’s investments may be considered speculative and may drop sharply in value in response to adverse research and development, marketing, regulatory or securities market events. Concentration of Investments. The Fund may be concentrated in certain positions at times. While the General Partner will attempt to spread the Fund’s capital among a number of investments, at times the Fund may hold a relatively small number of securities positions, each representing a relatively large portion of the Fund’s capital. Losses incurred in such positions could have a materially adverse effect on the Fund’s overall financial condition. Short Swing Profits. The Fund may, from time to time, take greater than 10% positions in particular equity securities. This strategy could subject the Fund to the potential risk of disgorgement of “short swing profits” pursuant to Section 16(b) of the Securities Exchange Act of 1934.

Small Capitalization Stocks. The Fund invests a portion of its assets in stocks of companies with smaller market capitalizations. While the General Partner believes these stocks can provide significant potential for appreciation, they can involve higher risks in some respects than investments in stocks of larger companies. For example, prices of small-capitalization and even some medium-capitalization stocks are often more volatile than prices of large-capitalization stocks and the risk of bankruptcy or insolvency of many smaller companies (with the attendant losses to investors) is higher than for larger, “blue-chip” companies. In addition, due to thin trading in some small-capitalization stocks, an investment in those stocks may be considered illiquid. Limited Liquidity of Some Investments. The Fund may invest in securities and derivative contracts that are relatively illiquid. That may be because a security is thinly traded or because the Fund’s position in a security is large in relation to the overall market for the security. The Fund may own securities that are relatively liquid when acquired but that become illiquid after the Fund invests. The Fund may not be able to liquidate these illiquid positions if the need were to arise; rapid sales of such investments could depress the market value of those instruments, reducing the Fund’s profits, or increasing its losses, in the positions. The limited liquidity of the Fund’s investments may have an impact on a Limited Partner’s ability to withdraw capital or to receive withdrawal proceeds. Use of Leverage. The Fund may, in the General Partner’s sole discretion, leverage its investment positions by borrowing funds from securities broker-dealers, banks or others, and entering into derivative contracts. From time to time, the Fund could borrow significant amounts to take advantage of unusual opportunities, such as short-term price disparities between markets or related securities. Such leverage increases both the possibilities for profit and the risk of loss. Short Selling. The Fund is long-biased but it also sells securities short as part of its investing activities. A short sale theoretically involves the risk of unlimited loss: the price at which the Fund must buy “replacement” securities could increase without limit. Hedging, Generally. Although hedging strategies in general are usually intended to limit or reduce investment risk, they may not achieve the anticipated effect. In fact, they may result in poorer overall performance for the Fund than the Fund could have achieved had it not engaged in such hedging transactions. Risks of Investing in Non-U.S. Securities. Investing in securities, commodity interests and derivative contracts and instruments denominated in currencies other than U.S. dollars subjects the Fund to certain risks not typically associated with investing in securities and commodity interests in the U.S, including but not limited to, political and economic instability, currency fluctuations, market inefficiencies, lack of available information and uniform accounting and financial reporting standards, different legal systems and potential restrictions and controls regarding investment by foreigners. In addition, the Fund may be subject to dividends, interest, capital gains and other payments on or with respect to certain foreign securities the Fund may own which could reduce net proceeds to the Fund. Currency Hedging. To the extent the Fund invests in non-U.S. securities or securities traded in currencies other than U.S. dollars, although not obligated to, the Fund may seek to hedge its exposure to currency fluctuations and may enter into foreign currency forward contracts (agreements to exchange one currency for another at a future date). These contracts involve a risk of loss. Risk of Derivatives, Generally. The Fund intends to trade and invest in a variety of derivative instruments, both to hedge the Fund’s portfolio and for profit. Derivatives are financial instruments or arrangements, the risk and return of which are related to changes in reference rates, indices or the value of securities or other assets. They can provide a form of leverage in that they permit the Fund to speculate on fluctuations in the reference rates, indices or prices of securities or other assets while investing only a small percentage of the value of those assets. Trading and investing in derivatives can be highly speculative and can entail risks that are greater than the risks of investing directly in securities or other assets.

Options. Among the derivatives in which the Fund intends to invest or trade are options on various underliers including options on specific securities, options on securities indices and options on security futures contracts. The Fund may buy or sell (write) both call options and put options, and when it writes options it may do so on a “covered” or an “uncovered” basis. The Fund’s options transactions may be part of a hedging tactic (i.e., offsetting the risk involved in another securities position), a form of leverage in which the Fund has the right to benefit from price movements in securities, securities indices or other assets with a small commitment of capital, or an attempt to obtain profits through premiums received on options the Fund writes. The trading of options is highly speculative and may entail risks that are greater than those present when investing in other securities. Prices of options are generally more volatile than prices of other securities. Exchange Traded Funds and Index Aggregates. The Fund may also invest in exchange traded funds (“ETFs”) and other index aggregate products. ETFs are index funds or trusts that track the performance of a specific basket of securities (“benchmark”) and are listed on an exchange. Other types of ‘enhanced’ index aggregate products may combine tracking a specific benchmark with additional investment techniques such as leveraging and/or the use of derivatives. Artificial Intelligence. We use, or may in the future use, artificial intelligence, generative artificial intelligence, machine learning and similar tools and technologies (collectively, “AI”) in connection with our business. The use of generative artificial intelligence, a relatively new and emerging technology in the early stages of commercial use, exposes us to additional risks, such as damage to our reputation, competitive position, and business, legal and regulatory risks and additional costs. For example, generative artificial intelligence has been known to produce false or “hallucinatory” inferences or output, and certain generative artificial intelligence uses machine learning and predictive analytics, which can create inaccurate, incomplete, or misleading content, unintended biases and other discriminatory or unexpected results, errors or inadequacies, any of which may not be easily detectable by us or any of our related service providers. Accordingly, while AI systems may help provide more tailored or personalized user experiences, if the content, analyses, or recommendations that AI systems assist in producing in our products and solutions are, or are perceived to be, deficient, inaccurate, biased, unethical or otherwise flawed, our reputation, competitive position, and business may be materially and adversely affected.

Topline works with the outsourced trader to consider the full range and quality of each broker’s services, taking into consideration the specifics for each trade such as transaction size, market characteristics, the liquidity of the security, type of security, ability to execute transactions timely and minimize incomplete trades and market impact, among other items. In selecting a broker-dealer to execute transactions (or series of transactions) and determining the reasonableness of the broker-dealer’s compensation, Topline need not solicit competitive bids and does not have an obligation to seek the lowest available commission cost. It is not Topline’s practice to negotiate “execution only” commission rates; thus, the Funds may be deemed to be paying for research, brokerage, capital introduction to connect Topline to investors, or other services provided by a broker-dealer which are included in the commission rate. Topline does not currently participate in any soft dollar or direct brokerage arrangements and does not select brokers based upon client referrals.

In accordance with guidance from the SEC, with respect to certain investments in privately offered securities, a specified custodian may hold only documentation relating to or referencing such investments but not the actual investment itself, and/or investments of a Fund may not be registered in the name of the custodian. Consequently, the custodian may not have control over the disposition of such investments, or the ability to direct delivery of sale proceeds or other distributions from such investments to the custodian. Further, for such investments, the custodian may not have the ability to validate or reconcile ownership of the investment with any third party, including the issuer. The Funds are audited annually in accordance with GAAP by an independent public accounting firm that is registered with, and subject to regular inspection by the Public Company Accounting Oversight Board (the PCAOB). Copies of the audited financial statements are independently distributed to each investor within 120 days of the Fund’s fiscal year end.

In the case of a conflict of interest resulting from a particular employee’s personal relationships, removing such employee from the decision-making process with respect to such proxy vote; or Any other method as deemed appropriate under the particular facts and circumstances, given the nature of the conflict.

Investors may obtain a copy of Topline’s proxy voting policy and procedures and/or information about how their securities were voted upon request.