Pavaki Capital Management, LLC: investment adviser

Performance results presented by the Firm may include the historical performance of the predecessor entity, Sahdev LLC, for periods prior to the formation of Pavaki Capital Management, LLC and Pavaki Capital Partners, LP. Such predecessor performance is presented to provide a longer track record for the investment strategy. Predecessor performance is not indicative of future results, and investors should not rely on predecessor performance as a guarantee of future returns. Pavaki provides investment advisory services exclusively to Pavaki Capital Partners, LP (the "Fund"), a Delaware limited partnership. The Firm serves as the General Partner and investment adviser to the Fund. The Fund is a private fund offered under Regulation D, Rule 506(c) of the Securities Act of 1933 to accredited investors and qualified clients. The Firm employs a dynamic multi-assets strategy. Investment decisions are made on a discretionary basis by the Firm in its capacity as General Partner, in accordance with the investment objectives and guidelines set forth in the Fund's Private Offering Memorandum and Limited Partnership Agreement. The Firm does not tailor its advisory services to the individual needs of investors in the Fund. Investors in the Fund cannot impose restrictions on investing in certain securities or types of securities. As of December 31, 2025, Pavaki manages approximately $410,135,655 in regulatory assets under management, all on a discretionary basis.

Performance-based fee arrangements may create an incentive for the Firm to make investments that are riskier or more speculative than would be the case in the absence of such arrangements. The high-water mark provision is intended to mitigate this risk by ensuring that the General Partner does not receive an incentive allocation unless the Fund has recovered any prior losses.

Other Expenses The Fund bears its own transaction-related expenses, including brokerage commissions and other costs directly related to the execution of securities transactions. All other operating expenses, including legal fees, accounting and auditing fees, organizational expenses, administration fees, and custodial fees, are borne by the General Partner, as described in the Fund's Private Offering Memorandum. The Firm does not receive compensation for the sale of securities or other investment products.

Lock-Up Period and Early Redemption Fees Each capital contribution made by a Limited Partner is subject to an Initial Lock-Up Period of thirty-six (36) months from the date of the capital contribution. During the Lock-Up Period, a Limited Partner may not request redemption of their investment except with the consent of the General Partner. If a Limited Partner redeems their interest during the Lock-Up Period, the following early redemption fees will apply:

• Redemption within the first 12 months of purchase: 50% redemption fee • Redemption between 12 and 24 months of purchase: 40% redemption fee • Redemption between 24 and 36 months of purchase: 35% redemption fee In the event of an early withdrawal during the Lock-Up Period, there shall be no reconciliation for profits and losses allocated to the Limited Partner's Capital Account. Accordingly, no excess performance fees, if any, shall be refunded. The early redemption fees are designed to protect the Fund and its remaining investors from the costs and disruptions associated with premature withdrawals. After the expiration of the Initial Lock-Up Period, a Limited Partner may withdraw from the Fund entirely by providing sixty (60) days' prior written notice to the General Partner. Distributions of any withdrawal will generally be made within fifteen (15) business days after the withdrawal date. Investors should carefully consider the Lock-Up Period and early redemption fees before investing, as these terms significantly restrict liquidity.

Risk of Loss Investing involves risk, including the potential loss of principal. The following are some of the material risks associated with the Firm's investment strategies: Market Risk: The value of investments may decline due to changes in general economic and market conditions. Leverage Risk: The use of leverage magnifies both gains and losses, and may result in losses exceeding the original investment. Derivatives Risk: The use of derivatives involves risks different from, and potentially greater than, the risks associated with investing directly in the underlying securities or assets. Concentration Risk: The Fund may concentrate its investments in certain sectors, asset classes, or geographic regions, which may increase volatility and risk.

Liquidity Risk: Some investments may be difficult to sell at favorable prices, particularly during periods of market stress. Short Selling Risk: Short selling involves the risk of theoretically unlimited loss if the price of the security increases. Counterparty Risk: The Fund faces the risk that a counterparty to a transaction may fail to fulfill its obligations. Interest Rate Risk: Changes in interest rates may adversely affect the value of certain investments. Regulatory Risk: Changes in laws and regulations governing the Firm's activities or the markets in which the Fund invests could adversely affect the Fund's operations and returns. The regulatory environment for investment advisers and private funds continues to evolve, and new regulations or changes in enforcement priorities could increase the Firm's compliance costs or restrict its investment activities. Operational Risk: The Fund is subject to risks arising from operational failures, including errors in trade execution, settlement, and valuation. The Firm's reliance on technology systems and third-party service providers also exposes the Fund to potential disruptions. Foreign Market Risk: The Fund may invest in securities traded on markets outside of the United States, which may be subject to different regulatory frameworks, less liquidity, greater volatility, and currency fluctuation risks. United States regulatory authorities may be unable to compel the enforcement of rules of regulatory authorities or markets in non-United States jurisdictions. Tax Risk: Changes in tax laws or their interpretation may adversely affect the Fund and its investors. Tax-exempt investors should be aware of the potential for unrelated business taxable income (UBTI) in connection with their investment in the Fund. Predecessor Performance Risk: The Firm may present performance results that include the track record of a predecessor entity, Sahdev LLC. The predecessor entity operated under different legal, regulatory, and organizational structures, and its historical results may not be

directly comparable to the performance of the Fund. Past performance, including predecessor performance, is not indicative of future results. Additional risk factors are described in greater detail in the Fund's Private Offering Memorandum, which investors should review carefully before investing. There is no guarantee that the Fund will achieve its investment objectives. Investors should be prepared to bear the risk of loss of their entire investment.

Related Entity Pavaki Capital Management, LLC serves as the General Partner of Pavaki Capital Partners, LP. This dual role as both the investment adviser and the General Partner of the Fund creates a potential conflict of interest, as the Firm has an incentive to act in a manner that benefits itself in its capacity as General Partner. The Firm addresses this conflict through its fiduciary duties to the Fund and its investors, and through the terms of the Limited Partnership Agreement, which govern the relationship between the General Partner and the limited partners. The Firm does not have any other financial industry affiliations.

Participation or Interest in Client Transactions The managing member of the Firm may buy or sell for his own personal account the same securities that the Firm recommends or trades for the Fund. This creates a potential conflict of interest, including the risk of front-running (trading ahead of the Fund) or competing for the same investment opportunities. The Firm's Code of Ethics and personal trading policies are designed to address these conflicts, including pre-clearance requirements and restrictions on personal trading. The Firm does not engage in principal transactions with the Fund and does not act as a broker-dealer.

The Firm does not participate in traditional soft dollar arrangements where research or other services are obtained in exchange for directing brokerage commissions. The Firm does not aggregate orders across multiple client accounts, as the Fund is the Firm's sole advisory client.