Jain Global LLC: investment adviser

Jain Global GP LLC (the “Multi-Strategy General Partner”), a Delaware limited liability company, is an affiliate of Jain Global and serves as the general partner of the Domestic Multi-Strategy Feeder Fund (as defined below). Jain Global Strategic Transactions GP LLC (the “STF General Partner”, and, together with the Multi-Strategy General Partner, the “Fund General Partners”), a Delaware limited liability company, is an affiliate of Jain Global and serves as the general partner of the Domestic STF Feeder Fund (as defined below). Jain Global provides all of the Fund General Partners’ facilities and personnel. The Principal Owner, indirectly through certain vehicles, including certain estate planning vehicles, owns and controls the Fund General Partners. The following entities are owned and controlled by Jain Global, are engaged as sub-advisers to the Funds, and are listed as relying advisers on Schedule R of Form ADV, Part 1A (collectively, such entities, the “Relying Advisers”): (i) Jain Global (UK) Partners LLP, a limited liability partnership incorporated in England and Wales, which is authorized and regulated by the Financial Conduct Authority; (ii) Jain Global (Singapore) Pte. Ltd., a private company limited by shares incorporated in Singapore, which holds a capital markets services license for fund management issued by the Monetary Authority of Singapore; (iii) Jain Global (Hong Kong) Limited, a limited company incorporated in Hong Kong, which is licensed by the Securities and Futures Commission of Hong Kong to carry out Type 1 (dealing in securities), Type 2 (dealing in futures contracts) and Type 9 (asset management) regulated activities; and (iv) Jain Global (Jersey) Limited, a limited company incorporated in Jersey, Channel Islands that is authorized and regulated by the Jersey Financial Services Commission. Jain Global may engage other sub-advisers in the future. This Brochure covers Jain Global, the Fund General Partners and the Relying Advisers; however, where the qualifications and business practices of the Fund General Partners and the Relying Advisers are substantially similar to those of Jain Global, no specific mention of the Fund General Partners or the Relying Advisers is made herein. As used in this Brochure, the “Management Group Entities” includes Jain Global, the Fund General Partners, and any other affiliated entity that is substantially owned and/or controlled by the Principal Owner (including, without limitation, the Relying Advisers). The “Management Group Personnel” includes the (i) the Principal Owner, (ii) any member of an Internal Investment Team (as defined below) and (iii) any other member, partner, director, manager, shareholder, officer, employee, representative, advisor, consultant, contractor, principal or agent of the Management Group Entities. B.

Description of Advisory Services

This Brochure generally includes information about Jain Global’s relationships with its clients. Jain Global serves as the investment adviser, with discretionary investment authority, to private pooled investment vehicles, the securities of which are offered to investors on a private placement basis (each, a “Fund” and

collectively, the “Funds”). Please note that all references to Jain Global’s “clients” in this Brochure relate to the Funds, unless otherwise specified. The Funds include: 

Jain Global Onshore Fund LP, a Delaware limited partnership (the “Domestic Multi-Strategy Feeder Fund”);

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Jain Global Offshore Fund Ltd, a Cayman Islands exempted company (the “Offshore MultiStrategy Feeder Fund”, and, together with the Domestic Multi-Strategy Feeder Fund, the “MultiStrategy Feeder Funds”);

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Jain Global Offshore Intermediate Fund Ltd, a Cayman Islands exempted company (the “MultiStrategy Intermediate Fund”); and

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Jain Global Master Fund Ltd, a Cayman Islands exempted company (the “Multi-Strategy Master Fund”, and, together with the Multi-Strategy Feeder Funds and the Multi-Strategy Intermediate Fund, the “Multi-Strategy Funds”);

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Jain Global Strategic Transactions Onshore Fund LP, a Delaware limited partnership (the “Domestic STF Feeder Fund”);

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Jain Global Strategic Transactions Offshore Fund LP, a Cayman Islands exempted limited partnership (the “Offshore STF Feeder Fund”, and, together with the Domestic STF Feeder Fund, the “STF Feeder Funds”);

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Jain Global Strategic Transactions Intermediate Fund LP, a Cayman Islands exempted limited partnership (the “STF Intermediate Fund”); and

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Jain Global Strategic Transactions Master Fund LP, a Cayman Islands exempted limited partnership (the “STF Master Fund”, and, together with the STF Feeder Funds and STF Intermediate Fund, the “STF Funds”).

In order to effect the Multi-Strategy Feeder Funds’ investment objective, Jain Global invests the MultiStrategy Feeder Funds’ capital through a “master-feeder” fund structure in the Multi-Strategy Master Fund. The Domestic Multi-Strategy Feeder Fund invests directly in the Multi-Strategy Master Fund. The Offshore Multi-Strategy Feeder Fund invests in the Multi-Strategy Intermediate Fund, and the Intermediate Fund invests in the Multi-Strategy Master Fund. In order to effect the STF Feeder Funds’ investment objective, Jain Global invests the STF Feeder Funds’ capital through a “master-feeder” fund structure in the STF Master Fund. The Domestic STF Feeder Fund invests directly in the STF Master Fund. The Offshore STF Feeder Fund invests in the STF Intermediate Fund, and the STF Intermediate Fund invests in the STF Master Fund. This Brochure does not constitute an offer to sell or solicitation of an offer to buy any securities. The securities of the Funds are offered and sold on a private placement basis under exemptions promulgated under the Securities Act of 1933 and other applicable state, federal or non-U.S. laws. Suitability requirements apply to prospective investors in the Funds, including requirements that they be “accredited investors”, as defined in Regulation D, “qualified purchasers”, as defined in the Investment Company Act, or non-“U.S. Persons” as defined in Regulation S. Persons reviewing this Brochure should not construe this as an offer to sell, or a solicitation of an offer to buy, the securities of any of the Funds described herein. Any such offer or solicitation will be made only by means of a confidential private placement memorandum and governing documents for the applicable Fund (collectively, the “Offering Documents”).

The Multi-Strategy Feeder Funds pursue a substantially similar investment program that is effected through a master-feeder fund structure. The investment objective of the Multi-Strategy Feeder Funds is to deliver attractive risk-adjusted returns in all market environments. Jain Global seeks to achieve such investment objective by investing primarily across the following investment strategies: fundamental equities, rates and macro, equity arbitrage, credit, systematic and commodities investment strategies, each of which is described in more detail in Item 8 below. The STF Feeder Funds pursue a substantially similar investment program that is effected through a masterfeeder fund structure. The investment objective of the STF Feeder Funds is to deliver attractive riskadjusted returns. Jain Global seeks to achieve such investment objective primarily through investment of the STF Feeder Funds’ assets in significant risk transfer (“SRT”) and other bank derisking and capital relief transactions such as credit valuation adjustment (“CVA”) hedges and other transactions offlaying risk on risk weighted asset heavy positions on bank balance sheets. In addition, the STF Funds will pursue other liquid opportunities in collateralized debt obligation (“CDO”) tranches, bank debt and Additional Tier 1 (“AT1”) securities and bank dividends. Jain Global allocates capital to investment personnel employed by one of more Management Group Entities (“Internal Investment Teams”) to invest in a range of investment strategies generally organized across different business lines. Jain Global allocates a portion of the Multi-Strategy Funds’ capital to external investment personnel employed by unaffiliated investment managers (“External Investment Teams”, collectively with Internal Investment Teams, “Investment Teams”), and such External Investment Teams may pursue a range of investment strategies on behalf of the Multi-Strategy Funds. Please review Item 8.A for more detailed information regarding Jain Global’s investment strategies and the Investment Teams. The descriptions set forth in this Brochure of specific investment strategies in which Jain Global, on behalf of the Funds, may engage, or specific investments the Funds may make, should not be understood to limit in any way Jain Global’s, or the Funds’, investment activities. Jain Global, on behalf of the Funds, may engage in any investment strategy and make any investment, including any not described in this Brochure, that Jain Global considers appropriate to pursue each Fund’s investment objective. Over time, the investment strategies employed by Jain Global on behalf of the Funds are expected to expand, evolve and change, perhaps materially. Jain Global’s investment program is speculative and entails substantial risks. There can be no assurance that the investment objective of the Funds will be achieved. C.

Availability of Customized Service for Individual Clients

Jain Global’s investment decisions and advice with respect to each Fund will be subject to each Fund’s investment objective and strategies, as set forth in applicable Offering Documents. D.

Wrap Fee Programs

Jain Global does not participate in any Wrap Fee Programs. E.

Assets Under Management

Jain Global manages, on a discretionary basis, approximately $32,392,342,398 of regulatory assets under management, determined as of December 31, 2025. Jain Global does not manage any assets on a nondiscretionary basis.

The Multi-Strategy Funds and the STF Funds both allocate an Incentive Allocation to their respective Fund General Partners (or their affiliates) on an annual basis or upon an investor’s withdrawal or redemption from the applicable Fund. For the Multi-Strategy Funds, the Incentive Allocation is deducted from the assets of the Domestic Multi-Strategy Feeder Fund and the Multi-Strategy Intermediate Fund (i.e., indirectly from the Offshore Multi-Strategy Feeder Fund) and reallocated to the Multi-Strategy General Partner. For the STF Funds, the Incentive Allocation is deducted from the assets of the STF Master Fund (i.e., indirectly from the STF Feeder Funds) and reallocated to an affiliate of the STF General Partner. The Domestic STF Feeder Fund and the STF Intermediate Fund (i.e., indirectly, the Offshore STF Feeder Fund) pay Jain Global the STF Management Fee, which is calculated and paid in advance on the first day of each calendar quarter. Installments of the STF Management Fee payable for any period other than a full calendar quarter will be adjusted on a pro rata basis according to the actual number of days in such period. C.

Additional Fees and Expenses

Each Multi-Strategy Fund bears all of its expenses and its share of each Multi-Strategy Master Fund’s direct and indirect expenses (collectively, the “Multi-Strategy Fund Expenses”), in each case, including such expenses incurred at or prior to the formation of the Multi-Strategy Funds and prior to the initial closing of the Multi-Strategy Funds. Indirect Multi-Strategy Fund Expenses include the expenses of any MultiStrategy Fund, including any Fund formed in the future. The types of expenses that are borne directly and indirectly by the Multi-Strategy Funds are not limited and will include any expenses related to the MultiStrategy Funds, as well as Investment Adviser Pass-Through Multi-Strategy Fund Expenses (as defined below). The Multi-Strategy Funds do not pay a management fee to Jain Global. Instead, the Multi-Strategy Funds are responsible for paying, either directly or by reimbursing the Management Group Entities, for all manner of start-up, ongoing operational and other expenses of the Management Group Entities related to the MultiStrategy Funds, including, for the avoidance of doubt, routine expenses, extraordinary expenses, operating expenses and capital expenditures of all types, and compensation expenses of Management Group Personnel for the Multi-Strategy Funds (collectively, the “Investment Adviser Pass-Through MultiStrategy Fund Expenses”), in each case, including such expenses incurred at or prior to the formation of the Funds and prior to the initial closing of the Funds. The following descriptions of the Multi-Strategy Fund Expenses and Investment Adviser PassThrough Multi-Strategy Fund Expenses are a high-level summary, and do not reflect every type of Multi-Strategy Fund Expense or Investment Adviser Pass-Through Multi-Strategy Fund Expense that may be borne by the Multi-Strategy Funds as contemplated currently or as may exist in the future. The Multi-Strategy Funds’ Offering Documents contain specific disclosures listing

representative categories of expenses that the Multi-Strategy Funds will bear, and those disclosures should be reviewed carefully. All statements herein relating to expenses borne by the Multi-Strategy Funds are qualified in their entirety by the Multi-Strategy Funds’ Offering Documents. The description below applies to the Multi-Strategy Funds—the STF Funds have materially different expense terms, which are detailed in the Offering Documents. Please see disclosures below regarding the allocation of expenses among the STF Funds and the Multi-Strategy Funds. Examples of Multi-Strategy Fund Expenses include: (i) organizational and offering expenses of the MultiStrategy Funds (including organizational expenses, initial and ongoing expenses incurred in connection with the offer and sale of interests and legal fees and other expenses related to the documentation and negotiation of definitive agreements with certain investors, if applicable); (ii) investment-related expenses (including all fees, costs and expenses related to investment and trading activities of the Multi-Strategy Funds, investments in Third-Party Portfolio Funds (as defined in Item 8.A below), costs associated with recruiting, retaining and compensating External Investment Teams and fees, costs and expenses relating to or otherwise arising from the Multi-Strategy Funds’ borrowings and other forms of financing); (iii) fees, costs and expenses relating to data, research and technology (including costs related to data acquisition and use, expenses related to research, diligence, implementation, maintenance, monitoring and development of investment strategies employed on behalf of the Multi-Strategy Funds and data center and other technologyrelated expenses); (iv) fees, costs and expenses associated with the Multi-Strategy Funds’ administrator, as well as accounting, taxes and tax preparation, audits and preparation of audited financial statements, valuation and proxy service providers and insurance expenses; (v) fees and expenses associated with any board of directors or advisory committee or advisory board of the Multi-Strategy Funds; (vi) fees, costs and expenses related to legal, tax and regulatory affairs (including regulatory licensing of the Multi-Strategy Funds and/or Management Group Entities, compliance with applicable laws, costs of indemnification or contribution pursuant to the Offering Documents, any sub-advisory agreements or other agreements and the costs of litigation, arbitration, regulatory examinations and governmental investigations or similar proceedings); and (vii) other fees, costs, charges and expenses associated with or relating to the business, affairs, governance and/or operations of the Multi-Strategy Funds. Examples of Investment Adviser Pass-Through Multi-Strategy Fund Expenses are expected to include the allocable portion related to the Multi-Strategy Fund of the Management Group Entities’ fees, costs and/or expenses (as applicable) associated with: (i) office and overhead (including office rent, supplies and ordinary-course financing of the Management Group Entities); (ii) compensation of Management Group Personnel, including salaries and base compensation (as well as associated payroll taxes), bonuses (including bonuses paid or allocated to Internal Investment Teams based on the investment performance of their respective portfolios net of any expenses allocated to such Internal Investment Teams in Jain Global’s sole discretion, which bonuses, for the avoidance of doubt, are separate from the Incentive Allocation), other payments to Management Group Personnel, benefits for Management Group Personnel and human resources and personnel recruitment fees and expenses; (iii) taxes, fees, duties and other governmental charges; (iv) ordinary course legal, tax, accounting, audit, regulatory, administrative, operating, governance, risk management and compliance expenses (including expenses related to obtaining and maintaining registrations and licenses (or exemptions from registration and licensing requirements)); (v) expenses and liabilities of the Management Group Entities, including those associated with litigation, arbitration, regulatory examinations, governmental investigations or similar proceedings; (vi) indemnification of any person under any agreement with a Management Group Entity, subject to limitations set forth in the Offering Documents; (vii) establishment (e.g., “start-up”), organization, structuring, operation and administration of the Management Group Entities, as well as related restructurings, amendments, reorganizations or terminations; (viii) technology and software, including platform buildout, operation, maintenance and other technology costs; (ix) service providers of the Management Group Entities, including all legal, accounting, auditing, administrative and other professional services (including

consulting services), relating to activities of any of the Management Group Entities and due diligence of such service providers; and (x) travel by Management Group Personnel. From time to time, any Management Group Entity or Management Group Personnel may elect to bear certain expenses on behalf of the Funds that are Multi-Strategy Fund Expenses or Investment Adviser PassThrough Multi-Strategy Fund Expenses. Such Management Group Entity or Management Group Personnel will not have any obligation to bear such expenses and may elect at any time (in whole or in part) to no longer bear such expenses on behalf of the Multi-Strategy Funds (to the extent permitted by applicable law). The Multi-Strategy Funds are subject to an “expense pass through” arrangement whereby the MultiStrategy Funds are responsible for paying for all manner of start-up, ongoing operational and other expenses of the Management Group Entities, including routine expenses, extraordinary expenses, operating expenses and capital expenditures of all types, and compensation of Management Group Personnel (collectively, the “Management Expenses”). As described above, the STF Funds are subject to the STF Management Fee, and, thus, Jain Global (and not the STF Funds) generally is responsible for bearing all of the categories of expenses that are borne by the Multi-Strategy Funds as Management Expenses. Further, Jain Global will make all determinations regarding whether an expense will be deemed to be a Management Expense. Accordingly, Jain Global will have potential conflicts of interest when making such determinations, including, for example, when determining (i) whether a particular cost or expense should be categorized as a fund expense (which will be borne by the STF Funds) or a Management Expense (which will be borne by Jain Global or its affiliates) and (ii) the allocation of any shared expenses among the Funds, including costs and expenses related to goods and services, sharing personnel, occupancy, technology, infrastructure, data and other resources that benefit both the STF Funds and the Multi-Strategy Funds. Such determinations and allocations will involve certain subjective determinations and, subject to compliance with applicable law, may be made by Jain Global using any method determined by Jain Global, including objective criteria, subjective criteria, or a combination of the foregoing, which methods may vary depending on the type of cost or expense in question. The Offering Documents contain additional disclosures regarding permissible expenses and other aspects of allocating expenses. The Funds incur brokerage and other transaction costs; Jain Global’s brokerage practices are described in Item 12. D.

Prepayment of Fees

In general, the Incentive Allocation for both the Multi-Strategy Funds and the STF Funds is paid in arrears. The Multi-Strategy Funds do not pay any fees in advance. As noted above, the STF Funds pay a Management Fee, which is calculated and paid in advance on the first day of each calendar quarter. E.

Additional Compensation and Conflicts of Interest

Neither Jain Global nor any of its supervised persons (as defined in the Advisers Act) accepts compensation (e.g., brokerage commissions) for the sale of securities or other investment products.

Across each of these strategies Jain Global invests globally on a long and short basis. Fundamental Equities Strategies. The fundamental equities strategies focus on investing in the equity (and equity-linked) securities of companies globally. Jain Global may take positions on behalf of the Multi-Strategy Funds in a broad range of Financial Instruments (please refer to the paragraph below these strategy descriptions for this definition), including common stock and related derivatives such as options, futures, swaps and other instruments. The fundamental equities strategies primarily employ fundamental research and financial analysis to identify investment opportunities. Rates and Macro Strategies. The rates and macro strategies focus on investing in the global fixed income, currency, commodity and equity markets. Jain Global may take positions on behalf of the Multi-Strategy Funds in a broad range of Financial Instruments, including government debt, currencies, commodities, mortgage-backed securities, municipal bonds, interest rate swaps, futures, options and other instruments. The rates and macro strategies primarily employ macroeconomic analysis to identify investment opportunities. Equity Arbitrage Strategy. The equity arbitrage strategy focuses on investing in the equity (and equitylinked) securities of companies globally with a focus on event and catalyst-driven opportunities. Jain Global may take positions on behalf of the Multi-Strategy Funds in a broad range of Financial Instruments, including preferred or common stocks, options, warrants, swaps, debt, hybrid and other instruments. The equity arbitrage strategy primarily employs fundamental research and financial analysis to identify investment opportunities. Credit Strategy. The credit strategy focuses on investing in the debt securities and related instruments of companies globally. Jain Global may take positions on behalf of the Multi-Strategy Funds in a broad range of Financial Instruments, including corporate bonds, loans, notes, convertible debt, structured debt, collateralized loan obligations, asset-backed securities, distressed and performing debt, trade finance instruments (e.g., participation interests in accounts receivables or accounts payables), equity (and equity-linked) instruments and other instruments. The credit strategy primarily employs fundamental and market analysis to identify investment opportunities. Systematic Strategy. The systematic strategy focuses on investments in the equity, fixed-income, currency and commodities markets globally. Jain Global may take positions on behalf of the MultiStrategy Funds in a broad range of Financial Instruments, including commodities, equities, debt, currencies, forwards, futures, swaps, equity indices, options and other derivatives. The systematic strategy primarily employs systematic models and algorithms to identify opportunities. Commodities Strategy. The commodities strategy focuses on investing in a range of products in the global commodities markets, including agricultural products, crude oil and refined products, natural gas, metal, power and weather products. Jain Global may take positions on behalf of the Multi-Strategy Funds in a broad range of Financial Instruments, including futures, forwards, swaps, options, securities

and other derivatives. The Multi-Strategy Funds may also buy and sell physical commodities and related derivatives thereof, and contract for transportation and storage capacity for such commodities. The commodities strategy primarily employs fundamental analysis and systematic modeling to identify opportunities. External Investment Teams and Third-Party Portfolio Funds. Jain Global allocates a portion of the Multi-Strategy Funds’ capital to External Investment Teams to pursue a range of investment strategies on behalf of the Multi-Strategy Funds. In addition, Jain Global may, from time to time, on behalf of the Multi-Strategy Funds, invest a portion of such Funds’ assets, directly or indirectly, with External Investment Teams through unaffiliated private investment funds or separately managed accounts that are outside of such Funds’ structures (each, a “Third-Party Portfolio Fund”) and managed by an unaffiliated investment adviser. In connection with the foregoing arrangements, the Multi-Strategy Funds are, and with respect to such Third-Party Portfolio Fund arrangements, expect to be, subject to certain fees, costs and expenses similar to those included in the definitions of Multi-Strategy Fund Expenses and Investment Adviser Pass-Through Multi-Strategy Fund Expenses, including costs and expenses incurred in managing the Multi-Strategy Funds’ capital through dedicated Fund vehicles or Third-Party Portfolio Funds, and an additional level of asset-based and/or performance-based fees or allocations (and all such fees, costs, expenses and allocations will be Multi-Strategy Fund Expenses or Investment Adviser Pass-Through Multi-Strategy Fund Expenses and will not reduce the Incentive Allocation or the expenses borne by the Multi-Strategy Funds). The STF Funds. The investment objective of the STF Funds is to deliver attractive risk-adjusted returns. Jain Global will seek to achieve such investment objective primarily through investment of the STF Funds’ assets in SRT and other bank derisking and capital relief transactions such as CVA hedges and other transactions offlaying risk on risk weighted asset heavy positions on bank balance sheets. In addition, the STF Funds will pursue other liquid opportunities in CDO tranches, bank debt and AT1 securities and bank dividends. Jain Global also expects to utilize hedging in connection with the STF Funds’ investment strategy in an effort to manage market risks and seek to enhance the risk adjusted return of the STF Funds’ portfolio. Jain Global expects to deploy the STF Funds’ capital primarily across bank derisking, CVA trading, Fundamental Review of the Trading Book (“FRTB”) risk recycling trading, AT1 securities and opportunistic investment strategies, each of which is described in more detail below. Across each of these strategies Jain Global (including the investment personnel employed by certain Management Group Entities that focus on such investment strategies on behalf of the Funds (the “STF Investment Team”)) expects to invest globally on a long and short basis. Please note that the strategies described below that are pursued for the STF Funds are also undertaken for the Multi-Strategy Funds. References below to such strategies being pursued for the STF Fund do not preclude the application of such strategies within the Multi-Strategy Fund. Such strategies are pursued by the STF Funds and Multi-Strategy Funds through separate master funds (i.e., the portfolios are not commingled). Bank Derisking Strategy. The bank derisking strategy focuses on investing in SRT and other regulatory capital relief transactions of banks globally. In executing this strategy, Jain Global may take positions on behalf of the STF Funds in a broad range of Financial Instruments (as defined below), including notes, structured debt, equity (and equity-linked) instruments, options, credit indices, swaps and other instruments. The bank derisking strategy primarily employs fundamental and market analysis to identify investment opportunities, particularly where banks’ regulatory capital and/or risk management frameworks make it sub-optimal to retain the risk and efficient to transfer it instead. Credit Valuation Adjustment (CVA) Trading. The STF Funds seek to acquire and manage exposures related to CVAs, which represent the market value of counterparty credit risk embedded in OTC derivatives, securities financings and structured transactions. The strategy involves pricing, managing

and hedging CVA exposures that arise from trading counterparties’ potential default risk. These exposures can be influenced by factors such as credit spreads, counterparty ratings, market volatility and contractual collateral terms. The STF Funds may take positions in credit default swaps, credit index tranches and other credit instruments to hedge or take advantage of differences between marketimplied credit risk and modeled CVA charges. This includes both directional and relative value positions. The STF Funds may acquire or transfer CVA exposures (e.g., via novations or bilateral agreements) from banks aiming to optimize capital efficiency and monetize risk premia associated with counterparty portfolios. FRTB Risk Recycling Trades. The STF Funds pursue risk recycling opportunities from banks under their FRTB regulatory regime. FRTB, implemented by global banking regulators, enhances capital rules for market risk, significantly affecting how banks manage and optimize their trading portfolios. This strategy seeks to respond to FRTB capital requirements by transferring market risks that may be capital-inefficient for banks but potentially attractive for the STF Funds. For example, the STF Funds target risk positions that are capital-consumptive under FRTB’s Internal Models Approach (IMA) or Standardized Approach (SA), such as non-modellable risk factors (NMRFs), illiquid hedges, or stressed sensitivities. The STF Funds may engage in bespoke transactions (e.g., total return swaps, portfolio trades, novations or synthetic securitizations) that transfer market risk from bank trading books into the Fund’s portfolio in a capital-efficient and regulatory-compliant format for the bank. By understanding differences in how similar risk is treated under banking regulations versus fund accounting or economic risk measures, Jain Global believes it is positioned to identify and monetize valuation gaps across asset classes, counterparties and transaction structures. AT1 Securities (Additional Tier 1 Capital Securities). The STF Funds will invest in AT1 securities, also known as contingent convertible securities (or CoCos). These instruments are hybrid debt securities issued by global banks to satisfy regulatory capital requirements under Basel III and are designed to absorb losses during periods of financial stress. AT1 securities typically offer elevated yields relative to other fixed income instruments of an issuer, reflecting their subordinated status, perpetual maturity and embedded loss-absorption features such as coupon cancellation or principal write-down or conversion to equity. This complexity can create spread differences and volatility, which the STF Funds aim to take advantage of through active credit selection, relative value positioning and tactical trading. Opportunistic Strategies. The STF Funds’ opportunistic strategy focuses on investing in CDO tranche and regulatory-driven special situation investments globally. Jain Global may take positions on behalf of the STF Funds in a broad range of Financial Instruments (as defined below), including derivative instruments, CDOs, CLOs, bonds, dividends, loans and other instruments. The opportunistic strategies primarily employ fundamental research and financial analysis to identify investment opportunities. Types of Instruments Utilized. The Funds may invest in any type of security, financial instrument or other asset or liability, including interests commonly referred to as securities, other financial instruments issued by, entered into by or referenced to U.S. or non-U.S. entities and other assets, including: capital stock; shares of beneficial interest; partnership interests and similar financial instruments; bonds, notes, loans and debentures (whether subordinated, convertible or otherwise); currencies; commodities; physical and intangible assets; interest rate, currency, commodity, equity, dividend swap and other derivative products, including (i) futures contracts (and options thereon) relating to stock indices, currencies, U.S. government securities and securities of non-U.S. governments, other financial instruments and all other commodities, (ii) swaps, options, swaptions, warrants, caps, collars, floors and forward rate agreements, (iii) spot and forward currency transactions and (iv) agreements relating to or securing such transactions; repurchase and reverse repurchase agreements; accounts and notes receivable and payable held by trade or other creditors; trade acceptances; contract and other claims; executory contracts; participations; mutual funds, exchange-traded funds and similar financial instruments; money market funds; credit default swaps; credit-linked notes; structured debt; collateralized debt

obligations; collateralized loan obligations; ABS; MBS; Third-Party Portfolio Funds and related investments; obligations of the United States or any non-U.S. government, or any country, state, governmental agency or political subdivision thereof; commercial paper; certificates of deposit; bankers’ acceptances; choses in action; trust receipts; and any other obligations and instruments or evidences of indebtedness of whatever kind or nature that exist now or are hereafter created (all such items being called herein “Financial Instruments”); in each case, of any person, whether or not publicly traded or readily marketable. Jain Global, on behalf of the Funds, may also use a variety of investment techniques or instruments for investment or hedging purposes, including, without limitation, leverage, indices, ETFs (as defined below), short sales, swaps and options. The Funds may invest in Financial Instruments anywhere in the world. As discussed above, the STF Funds have a different investment program from the Multi-Strategy Funds; accordingly, certain of the Financial Instruments identified herein are only applicable to the Multi-Strategy Funds and not to the STF Funds. The specific Financial Instruments included in the investment program for each Fund are detailed in the applicable Fund’s Offering Documents. No Limitations on Investment Strategies and Financial Instruments. The assets of the Funds may be invested, subject to any restrictions imposed by applicable law, rule or regulation, or as set forth in their respective Offering Documents, in such Financial Instruments, and Jain Global, on behalf of the Funds, may employ such investment strategies as Jain Global may from time to time determine. The descriptions set forth in this Brochure of specific investment strategies in which Jain Global, on behalf of the Funds, may engage, or specific investments the Funds may make, should not be understood to limit in any way Jain Global’s, or the Funds’, investment activities. Jain Global, on behalf of the Funds, may engage in any investment strategy and make any investment, including any not described in this Brochure, that Jain Global considers appropriate to pursue the Funds’ investment objective. Over time, the investment strategies employed by Jain Global on behalf of the Funds are expected to expand, evolve and change, perhaps materially. The investment program that Jain Global pursues on behalf of its clients is designed for sophisticated clients, is speculative and entails substantial risks. There can be no assurance that any investment objective will be achieved. Investing in securities involves the risk of loss and clients should be prepared to bear a substantial, or total, loss of capital. B.

Material, Significant or Unusual Risks Relating to Investment Strategies

The following risk factors do not purport to be a complete list or explanation of the risks borne by the Funds or any investors therein. These risk factors include only those risks Jain Global believes to be material, significant or unusual, and relate to particularly significant investment strategies or methods of analysis employed by Jain Global. As described above, the Multi-Strategy Funds and the STF Funds pursue substantially different investment strategies (please note that the Multi-Strategy Funds also make STF and other investments pursued by the STF Funds as a part of the Multi-Strategy Funds’ broader portfolio). Certain risk factors below will only apply with respect to the Multi-Strategy Funds and not to the STF Funds, or such risks that are applicable to all Funds may have a greater degree of impact on certain Funds more than others. Each Fund’s Offering Documents provide specific risks of investment for the applicable Fund. Prospective clients and Fund investors should carefully consider the risks involved in a client relationship with Jain Global or an investment in the Funds, including those discussed below, and consult their own legal, tax and financial advisers with respect to such risks. The following list of risk factors cannot be and is not intended to be exhaustive. The following risk factors and other relevant risks could have a material adverse effect on Jain Global’s clients. Additional or new risks not addressed below may affect client investments.

Certain investment strategies pursued by Jain Global involve frequent trading of securities—such transaction frequency can adversely impact investment performance, including as a result of increased brokerage costs, transaction costs and taxes. Risk of Loss. No guarantee or representation is made that the Funds’ investment program, including the Funds’ investment objective, will be successful. Investment results may vary substantially over time. No assurance can be made that profits will be achieved or that substantial or complete losses will not be incurred. Competition; Availability of Investments. Jain Global competes for investment ideas with numerous other investment firms as well as other investors, many of which have resources substantially greater than Jain Global’s resources. Certain markets in which the Funds may invest are extremely competitive for attractive investment opportunities. As a result, there can be no assurance that Jain Global will be able to identify or successfully pursue attractive investment opportunities. Among other factors, competition for suitable investments from other investment funds and other investors may reduce the availability of investment opportunities. Competitive investment activity by other firms and institutions will reduce the Funds’ opportunities for profit by generally increasing prices on desired assets and reducing mispricings in the market as well as the margins available on those mispricings that can still be identified. Volatility Risk. The Funds’ investment program involve the purchase and sale of relatively volatile Financial Instruments and/or investments in volatile markets. Fluctuations or prolonged changes in the volatility of such Financial Instruments and/or markets can adversely affect the value of investments held by the Funds. Credit Ratings. Any credit rating assigned to a Financial Instrument is relative and subjective, and does not evaluate the market value risk of such Financial Instruments or reflect macroeconomic or systemic risk, including the risk of increased illiquidity in the credit markets. Further, credit ratings may change over time due to various factors, including changes in the creditworthiness of the issuer and/or changes in the rating agency’s analytics and processes. It is possible that a rating agency might not change its rating of a particular issuer on a timely basis to reflect subsequent events and, as a result, outstanding ratings may not reflect the issuer’s current credit standing. Investments that are based on credit ratings that subsequently change in a way not favorable to the Funds’ investment objective could have a materially adverse effect on the performance of the Funds. Significant Positions in Financial Instruments; Regulatory Requirements. In the event the Funds acquire a significant stake in certain issuers of securities and such stake exceeds certain percentage or value limits, the Funds may be subject to regulation and regulatory oversight that may impose notification and filing requirements or other administrative burdens on the Funds and Jain Global. Any such requirements may impose additional costs on the Funds and may delay the acquisition or disposition of the securities or Jain Global’s ability to respond in a timely manner to changes in the markets with respect to such securities. In addition, “position limits” may be imposed by various regulators or exchanges that may limit Jain Global’s ability to effect desired trades for the Funds. Position limits are the maximum amounts of gross, net long or net short positions that any one person or entity may own or control in a Financial Instrument. If at any time positions managed by Jain Global were to exceed applicable position limits, then Jain Global would be required to liquidate positions, which might include positions of the Funds, to the extent necessary to come within those limits. Further, to avoid exceeding any position limits, the Funds might have to forgo or modify certain trades that Jain Global contemplated for the Funds. In addition, if the Funds acquire beneficial ownership of more than 10% of a certain class of securities of a public company or places a director on the board of directors of such a company, under Section 16 of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), then the Funds may be subject to certain additional reporting requirements and may be required to disgorge certain short-swing profits arising from purchases and sales of such securities. Furthermore, in such circumstances the Funds will be

prohibited from entering into a short position in such issuer’s securities, and therefore limited in their ability to hedge such investments. Similar restrictions and requirements may apply in non-U.S. jurisdictions. Additionally, while Jain Global expects to take certain precautions and implement certain procedures to avoid the Funds acquiring a “control” position in an issuer’s securities, the Funds may, from time to time, acquire such positions. This may subject the Funds to additional risks of liability for environmental damage, product defects, failure to supervise management, violation of governmental regulations and other types of liability in which the limited liability generally characteristic of business operations may be ignored. Exposure to Material Non-Public Information. From time to time, Jain Global may receive material non-public information with respect to an issuer of publicly traded securities. In such circumstances, the Funds may be prohibited, by law, policy or contract, for a period of time from (i) unwinding a position in such issuer, (ii) establishing an initial position or taking any greater position in such issuer and (iii) pursuing other investment opportunities related to such issuer. Currency Exchange Exposure. The Funds invest in Financial Instruments denominated in currencies other than the U.S. dollar. The Financial Instruments of the Funds, however, are valued in U.S. dollars. Jain Global, on behalf of the Funds, may or may not seek to hedge the Funds’ non-U.S. currency exposure by entering into currency hedging transactions. There can be no guarantee that Financial Instruments suitable for hedging currency or market shifts will be available at the time when Jain Global wishes to use them for the Funds, will be able to be liquidated when the Funds wish to do so or that hedging techniques employed by Jain Global for the Funds will be effective. Furthermore, certain currency market risks may not be fully hedged or hedged at all. To the extent unhedged, the value of the Funds’ positions denominated in currencies other than the U.S. dollar will fluctuate with U.S. dollar exchange rates as well as with the price changes of the investments in the various local markets and currencies. Such fluctuations may have a material adverse effect on the performance of the Funds. Costs and Availability of Financing. The Funds expect to obtain financing from counterparties that are regulated entities subject to regulatory capital requirements, which will require the counterparty to maintain certain liquidity, core capital and risk-based capital ratios. These regulatory capital and liquidity requirements have become more stringent with the implementation of the standards set forth in the Basel Committee’s 2010 capital and liquidity reform package known as Basel III. The implementation of Basel III, as well as recent proposed additions to these requirements, may cause the cost of financing obtained by the Funds from such counterparties to become more expensive or, in some cases, unavailable. Additionally, the margin and collateral requirements of the Funds with respect to such financing may also increase. To the extent that the Funds do not employ leverage with respect to the Funds’ portfolios, the Funds’ investment returns may be lower than those that could have been achieved using leverage, and there are risks that the Funds will not be able to maintain a leverage facility on acceptable terms, or at all. Additionally, an increase in financing costs or the margin and collateral requirements with respect to financing may cause certain of the Funds’ trading strategies to become less profitable or unprofitable, which could have a material adverse effect on the performance of the Funds. Multi-Strategy Approach. Jain Global, on behalf of the Multi-Strategy Funds, implements a multi-strategy approach and employs one or more of the investment strategies described in more detail in this Brochure, which multi-strategy approach entails inherent limitations and opportunity costs. The different investment strategies which are combined in the Funds’ portfolios may generate offsetting gains and losses resulting in substantial transaction costs, but no net profit. Discretion of Jain Global; No Limitation on Investment Strategies. While Jain Global generally seeks to employ the investment strategies discussed herein, Jain Global has considerable discretion, and is not limited, in the types of Financial Instruments or investment strategies in which the Funds may trade or the methods used to implement such investment strategies and has the right, at any time, to modify the investment strategies, or the methods used to implement the investment strategies, it employs on behalf of the Funds without the consent of such Funds’ investors, including adding new investment strategies or removing or modifying

existing investment strategies. New investment strategies, or new methods used to implement existing investment strategies, may not be thoroughly tested in the market before being employed and may have operational or theoretical shortcomings which could result in unsuccessful trades. In addition, any new investment strategy, or any new method used to implement an existing investment strategy, developed by the Funds may be more speculative than earlier investment strategies or methods and may involve material and asyet-unanticipated risks that could increase the risk of an investment in the Funds. Long/Short. The Funds have both long and short positions in their portfolios, and the success of such positions will depend upon Jain Global’s ability to identify and purchase Financial Instruments that are relatively undervalued and identify and sell short Financial Instruments that are relatively overvalued. The identification of long and short investment opportunities is a difficult task, and there are no assurances that such opportunities will be successfully recognized or acquired. The failure of any perceived opportunities underlying the Funds’ positions to converge toward, or to diverge further from, values expected by Jain Global could have a material adverse effect on the performance of the Funds. In the event of market disruptions, the performance of the Funds could be materially adversely affected which may force Jain Global to close out one or more Fund positions. Furthermore, the valuation models used to determine whether a long or short position presents an attractive opportunity may become outdated and inaccurate as market conditions change. Short-Selling. A short sale creates the risk of a theoretically unlimited loss, in that the price of the underlying Financial Instrument could theoretically increase without limit, thus increasing the cost to the Funds of buying those Financial Instruments to cover the short position. There can be no assurance that the Funds will be able to maintain the ability to borrow Financial Instruments sold short. In such cases, the Funds can be “bought in” (i.e., forced to repurchase Financial Instruments in the open market to return to the lender). There also can be no assurance that the Financial Instruments necessary to cover a short position will be available for purchase at or near prices quoted in the market. Purchasing Financial Instruments to close out the short position can itself cause the price of the Financial Instruments to rise further, thereby exacerbating the loss. Even though the Funds secure a “good borrow” of the Financial Instrument sold short at the time of execution, the lending institution may recall the lent Financial Instrument at any time, thereby forcing the Funds to purchase the Financial Instrument at the then-prevailing market price, which may be higher than the price at which such Financial Instrument was originally sold short by the Funds. In addition, the Funds may be required to provide additional margin to their counterparties, including their prime brokers, on short notice if the price of a Financial Instrument underlying a short position suddenly rises. If the Funds are unable to deliver the additional margin required, then the Funds may need to prematurely close out the short position at unattractive prices. Depending on the timing and magnitude of a price increase in respect of an open short position, the Funds may be required to liquidate long positions to meet margin requirements, thereby further increasing the losses (or decreasing the gains) of the Funds. Further, fees charged to the Funds for borrowing Financial Instruments may be substantial, and will decrease any gains (or increase losses) associated with a short position. Short strategies can also be implemented synthetically through various instruments and be used with respect to indices or in the OTC market and with respect to futures and other instruments. In some cases of synthetic short sales, there is no floating supply of an underlying instrument with which to cover or close out a short position and the Funds may be entirely dependent on the willingness of OTC market makers to quote prices at which the synthetic short position may be unwound. There can be no assurance that such market makers will be willing to make such quotes. Short strategies can also be implemented on a leveraged basis. In addition, short-selling subjects the Funds to the risk of a short squeeze. The detrimental effects of a short squeeze may be exacerbated by the lender of a Financial Instrument demanding the return of the Financial Instrument that has been loaned at any time, which may require the seller to borrow identical Financial Instruments from another lender or buy identical Financial Instruments in the market to make delivery, which, in the case of such purchase, could have a material adverse effect on the performance of the Funds if the Financial Instruments sold short had increased in value. Further, the risk of a short squeeze likely will increase if other short-sellers, market participants, and/or lenders become aware of the Funds’ short

positions, including, without limitation, as a result of legally required reporting with respect to the ownership of options to purchase the underlying Financial Instrument being shorted. Further, certain jurisdictions have enacted restrictions on short selling (including wholesale bans, at times) as well as public disclosure requirements, such as rule 13f-2 of the Exchange Act (“Rule 13f-2”) which was recently adopted by the SEC. While any short position information required to be provided by Jain Global to the SEC pursuant to Rule 13f-2 will be confidential and not available to the public, market participants will now have monthly visibility, albeit on an aggregate basis, into the magnitude of open short positions with respect to a particular issuer. The disclosure that will be provided pursuant to Rule 13f-2 increases the risk that a “short squeeze” could occur in one or more short positions maintained by the Funds because market participants will now have broad and regularly recurring information regarding the open short positions. Event-Driven. Event-driven strategies employed by Jain Global for the Funds attempt to identify security price changes resulting from various corporate events and special situations. Corporate event arbitrageurs generally choose their investments based on their perceptions of the likelihood that the event or transaction will occur, the amount of time that the process will take and the perceived ratio of return to risk. The success of event-driven trading depends on the successful prediction of whether various corporate events will occur or be consummated. The consummation of certain transactions, such as mergers, exchange offers and tender offers, can be prevented or delayed, or the terms changed, by a variety of factors. There is no assurance that Jain Global will correctly evaluate the nature or magnitude of the various factors that could affect the prospects for a successful merger, exchange offer, tender offer or other similar transaction. Index rebalancing strategies rely on directional long and short positions based on anticipated modifications and reweighting of securities making up a certain index or indices. These strategies may result in increased concentration risk with respect to securities or issuers that are part of such an index. There can be no assurance that Jain Global will correctly forecast these modifications or reweightings or the resulting security price changes. In addition, since other market participants may also pursue index rebalancing strategies and may enter into similar directional trades (on a long and/or short basis) at or around the same time, losses in index rebalancing strategies may be amplified, which could have a material adverse effect on the performance of the Funds. Volatility. Volatility trading strategies employed by Jain Global for the Funds attempt to profit from volatility misvaluations among the global equity and credit markets through taking directional positions, either long or short, on the level of volatility in certain markets. There is no assurance that the investment process or forecasts will be accurate or that such strategies will be successful. Price movements are influenced by many unpredictable factors, such as market sentiment, inflation rates, interest rate movements and general economic and political conditions. While volatility can create profit opportunities, it can also create a risk that historical or theoretical pricing relationships will be disrupted, which could have a material adverse effect on the performance of the Funds. Models and Data. Certain investment strategies employed by Jain Global for the Funds rely on models (both proprietary models developed by Jain Global, and those supplied by third parties) and information and data supplied by third parties (collectively, “Models and Data”). When Models and Data prove to be incorrect, misleading or incomplete, or the assumptions underlying the models are inaccurate or become inaccurate and are not promptly adjusted or addressed, decisions made in reliance thereon expose the Funds to potential risks, including being induced to buy certain investments at prices that are too high, to sell certain other investments at prices that are too low, or to miss favorable opportunities altogether or to incorrectly hedge or fail to hedge altogether. There also can be no assurance that the models used by Jain Global will continue to be viable. In addition, given that the systems utilized by Jain Global on behalf of the Funds can execute trades autonomously, undesired results may only be detected after the fact, perhaps after a significant number of transactions have occurred. Further, Jain Global may from time to time manually override or shut down the operations of a model, which could have a greater material adverse effect on the performance of the Funds than would be the case if there had been no intervention and/or

could result in the model being overridden or inactive at a time when the model would have achieved gains for the portfolio. Additionally, various regulatory position-reporting obligations may allow other market participants to reverse-engineer Jain Global’s models, and thereby trade or develop similar investment strategies based on such models. Crowding/Convergence/Correlation. There is significant competition among managers and the ability of Jain Global to deliver returns that have a low correlation with the broader global markets and other hedge funds is dependent on its ability to develop investment strategies and identify investment opportunities that are both profitable and differentiated from those employed by other managers. To the extent that Jain Global is not able to develop investment strategies and identify investment opportunities that are both profitable and differentiated, the Funds’ investment objective may not be met, irrespective of whether the Funds are profitable in an absolute sense. In addition, to the extent that the models employed by Jain Global within its investment strategies come to resemble those employed by other managers, the risk that a market disruption that negatively affects such models will materially adversely affect the performance of the Funds is increased, as such a disruption could accelerate reductions in liquidity or rapid repricing due to simultaneous trading across a number of funds in the marketplace. The Funds may also be exposed to correlated risks. Systematic traders can be particularly susceptible to this type of correlation risk as a result of convergence in their automated trading algorithms and positions held. The high leverage and hedging techniques that many arbitrage-driven systematic hedge fund managers use can further magnify the effects of correlation risk. Substantial Transaction Costs. Jain Global’s trading decisions may result in substantial portfolio turnover which could result in significant trading-related expenses, potentially involving substantial brokerage commissions and fees as well as clearing costs. Leverage and Borrowing Leverage for Investment Purposes. The use of leverage will allow the Funds to make additional investments, thereby increasing their exposure to assets, such that their total assets are greater than their capital. Leverage will also magnify the volatility of changes in the value of the Funds’ portfolios. Leverage may take a variety of forms including margin borrowing from securities, loans, derivative instruments that are inherently leveraged and other financing arrangements. Leverage used by the Funds may be secured by securities holdings and other assets, such as cash. The effect of the use of leverage by the Funds in a market that moves adversely to their investments could have a material adverse effect on the performance of the Funds, which would be greater than if the Funds were not leveraged. Collateral posted to the Funds’ counterparties (including the Funds’ prime brokers) may be rehypothecated, pledged or charged out to third parties by the Funds’ counterparties. This can enable the Funds’ counterparties to provide additional leverage the Funds might not otherwise have access to. Jain Global, for the benefit of the Funds, has the authority to borrow, trade on margin, utilize derivatives and otherwise obtain leverage from brokers, banks and others on a secured or unsecured basis. The Funds have no predetermined limitations on the amount of leverage to be deployed in connection with the Funds’ investment program and the Funds’ leverage is expected to be substantial as compared to its investor capital. Notwithstanding anything herein to the contrary, the banks from which the Funds may obtain leverage may be the same banks with which the Funds enter into SRT or other regulatory capital relief transactions. Borrowing for Cash Management Purposes. The Funds have the authority to borrow for cash management purposes, including, among other reasons, to satisfy withdrawal requests, make

leasehold improvements or purchase equipment. To facilitate such borrowings, the Funds may, among other things, enter into a credit facility with a bank or a third-party credit institution. The rates at and terms on which the Funds can borrow will affect the operating results of the Funds. Collateral. The instruments and borrowings utilized to leverage the Funds’ investments may be collateralized by all or a portion of the Funds’ portfolios. Accordingly, the Funds’ Financial Instruments may be pledged or charged in order to borrow or otherwise obtain leverage for investment or other purposes. Should the Financial Instruments pledged or charged to brokers to secure the Funds’ margin accounts decline in value, the Funds could be subject to a “margin call”, pursuant to which the Funds must either deposit additional funds or Financial Instruments with the broker or suffer mandatory liquidation of the pledged or charged Financial Instruments to compensate for the decline in value. The banks and dealers that provide financing to the Funds can apply essentially discretionary margin, “haircut”, financing and collateral valuation policies. Changes by such counterparties in any of the foregoing may result in large margin calls, loss of financing and forced liquidations or seizures of positions at disadvantageous prices. Lenders that provide other types of asset-based or secured financing to the Funds may have similar rights. There can be no assurance that the Funds will be able to secure or maintain adequate financing. Costs. Borrowings will be subject to interest, transaction and other costs, and other types of leverage also involve transaction and other costs. Any such costs may or may not be recovered by the return on the Funds’ portfolios. Lending of Portfolio Securities. The securities of the Funds may be lent on a collateralized and an uncollateralized basis from the Funds’ portfolios to securities firms and financial institutions; provided that any income generated from such securities lending will be held for the benefit of the Funds (and, indirectly, the Funds’ investors). The risks in lending securities, as with other extensions of secured credit, if any, consist of possible delay in receiving any additional collateral or in recovery of the securities or possible loss of rights in any collateral should the borrower fail financially. Diversification and Concentration. The positions of the Funds may at times be concentrated in a limited number or types of Financial Instruments. In addition, the Funds’ portfolios may become significantly concentrated in Financial Instruments related to a single or a limited number of issuers, industries, sectors, strategies, countries or geographic regions. This limited diversification may result in the concentration of risk, which, in turn, could have a material adverse effect on the performance of the Funds that is disproportionate to market movements in general if there are disproportionately greater adverse price movements in such Financial Instruments. Lack of Control. The Funds’ assets are invested in debt instruments and equity securities of companies that the Funds do not control. Such Financial Instruments are subject to the risk that the issuer may make business, financial or management decisions with which Jain Global, on behalf of the Funds, does not agree or that the majority stakeholders or the management of the issuer may take risks or otherwise act in a manner that does not serve the Funds’ interests. In addition, the Funds may share control over certain investments with coinvestors, which may make it more difficult for the Funds to implement their investment approach or exit the investment when they otherwise would. The occurrence of any of the foregoing could have a material adverse effect on the performance of the Funds. Hedging Transactions. Jain Global, on behalf of the Funds, utilizes Financial Instruments for risk management or hedging purposes. Jain Global is not required to hedge any particular risk in connection with a particular transaction or the Funds’ portfolios generally. Jain Global may be unable to anticipate the occurrence of a particular risk and, therefore, may be unable to attempt to hedge against it. When hedging risk exposures associated with particular positions or in respect of an overall portfolio, Jain Global may use a variety of Financial Instruments on behalf of the Funds, the choice of which may turn out in retrospect to have failed to create the intended risk mitigation. Furthermore, Jain Global may choose to use various hedging approaches which may ultimately fail to achieve the intended risk mitigation if the market experiences rapid changes in

price, volatility or liquidity. In general, Jain Global does not expect to attempt to hedge all market or other risks inherent in the Funds’ portfolios, and Jain Global expects that it will hedge certain risks only partially, if at all. Moreover, the portfolio will always be exposed to certain risks that cannot be hedged. Such hedging decisions, if they fail to achieve the intended risk mitigation or performance enhancement or fail to adequately mitigate the level of intended risk, could have a material adverse effect on the performance of the Funds. Fundamental Analysis. Certain trading decisions made by Jain Global are based on fundamental analysis. Data on which fundamental analysis relies may be inaccurate or may be generally available to other market participants. To the extent that any such data is inaccurate or that other market participants have developed, based on such data, investment strategies similar to those employed by Jain Global for the Funds, the Funds may not be able to realize their investment goals. In addition, fundamental market information is subject to interpretation, and any misinterpretation by Jain Global of the meaning of certain data could have a material adverse effect on the performance of the Funds. Relative Value Analysis. Certain trading decisions made by Jain Global are based on relative value analysis, the success of which depends upon the ability of Jain Global to identify and exploit perceived inefficiencies in the pricing of Financial Instruments, financial products, or markets. Identification and exploitation of such inefficiencies involves uncertainty. There can be no assurance that Jain Global will be able to identify investment opportunities or to exploit pricing inefficiencies in the securities markets. Even if Jain Global’s investment strategies utilizing relative value analysis are successful, they may result in high portfolio turnover and, consequently, high transaction costs. Systematic Analysis. Certain trading decisions made by Jain Global are based on systematic analysis. The success of such analysis will rely on Models and Data, the risks of which are described in more detail above. General Economic and Market Conditions. The success of the Funds will be affected by general economic and market conditions, such as interest rates, availability of credit, credit defaults, inflation rates, economic uncertainty, changes in laws (including laws relating to taxation of the Funds’ investments), trade barriers, currency exchange controls, national and international political circumstances (including wars or insurrections, terrorist acts, diplomatic developments or security operations) and other global events. These factors may affect the level and volatility of the prices and the liquidity of the Funds’ investments. Volatility or illiquidity could have a material adverse effect on the performance of the Funds. Governmental Interventions. Governmental interventions in equity, credit and currency markets occur from time to time. In certain cases, governments may intervene on an “emergency” basis, suddenly and substantially eliminating market participants’ ability to continue to implement certain strategies or manage the risk of their outstanding positions. For example, a number of European countries imposed short sale bans during the Coronavirus pandemic. In addition, these interventions may be unclear in scope and application, resulting in uncertainty. It is impossible to predict when these restrictions will be imposed, what the interim or permanent restrictions will be and/or the effect of such restrictions on the investment strategies employed by Jain Global for the Funds. Sanctions. The Funds’ investments may become subject to economic sanctions laws and regulations of various jurisdictions. At any given time, whether under applicable law, by contractual commitment or as a voluntary risk management measure, the Funds may be required, or elect, to comply with various sanctions programs, including the Specially Designated Nationals and Blocked Persons List and Sectoral Sanctions programs administered by the U.S. Treasury Department’s Office of Foreign Assets Control, the sanctions regimes administered by subsidiary organs of the United Nations Security Council, the Sanctions Orders of the Cayman Islands (including as extended to the Cayman Islands by Order of the government of the United Kingdom from time to time), and the Restrictive Measures adopted by the European Union. Some sanctions that may apply to the Funds prohibit or restrict dealings with particular identified persons. Other potentially applicable sanctions programs broadly prohibit or restrict dealings in certain countries or territories or with individuals and entities located in such countries or territories. In addition to such current sanctions, additional sanctions may be

imposed in the future. Such sanctions may be imposed with little or no advance warning or “safe harbor” for compliance and may be ambiguous, including as to the scope of financial activities that regulators may ultimately deem to be covered by the sanctions. Depending on the scope and duration of a particular sanctions program, compliance by the Funds may result in a material adverse effect on the performance of the Funds. Jain Global and the Funds may be subject to heightened or targeted regulatory scrutiny and information requests as a result of such sanctions. In addition, if Jain Global or the Funds were to violate or be deemed in violation of any such sanction, then they could face significant legal and monetary penalties. Sanctions may negatively impact the Funds’ ability to effectively implement their investment strategies and have a material adverse impact on the Funds’ investments in various ways, including by preventing or inhibiting the Funds from making certain investments, forcing the Funds to divest from investments previously made, and leading to substantial reductions in the revenues, profits and value of the Funds’ investments. Finally, sanctions may have broader economic implications, such as influencing the price of certain commodities, which may have adverse effects on inflation and the value of the U.S. dollar, which may adversely affect investment objective and strategies of the Funds. Non-U.S. Exchanges. Jain Global expects to trade on behalf of the Funds on exchanges or markets located outside the United States. Trading on such exchanges or markets is not regulated by the SEC and the U.S. Commodity Futures Trading Commission (the “CFTC”) and may, therefore, be subject to more risks than trading on U.S. exchanges, such as the risks of exchange controls, expropriation, burdensome taxation, moratoria and political or diplomatic events. Risks in investments in non-U.S. Financial Instruments may also include reduced and less reliable information about issuers and markets, less stringent accounting standards, illiquidity of securities and markets, higher brokerage commissions and custody fees. Non-U.S. Investments. Investing in the Financial Instruments of companies (and, from time to time, governments) outside of the United States involves certain considerations not usually associated with investing in Financial Instruments of U.S. companies or the U.S. government, including political and economic considerations, such as greater risks of expropriation, nationalization, confiscatory taxation, imposition of withholding or other taxes on interest, dividends, capital gains, other income or gross sale or disposition proceeds, limitations on the removal of funds or other assets and general social, political and economic instability; the relatively small size of the securities markets in such countries and the low volume of trading, resulting in potential lack of liquidity and in price volatility; the evolving and unsophisticated laws and regulations applicable to the securities and financial services industries of certain countries; fluctuations in the rate of exchange between currencies and costs associated with currency conversion; and certain government policies that may restrict the Funds’ investment opportunities. In addition, accounting and financial reporting standards that prevail outside of the U.S. generally are not as high as U.S. standards and, consequently, less information is typically available concerning companies located outside of the U.S. than for those located in the U.S. As a result, Jain Global may be unable to structure transactions for the benefit of the Funds to achieve the intended results or to mitigate all risks associated with such markets. It may also be difficult to enforce the Funds’ rights in such markets. For example, Financial Instruments traded on non-U.S. exchanges and the non-U.S. persons that trade these instruments are not subject to the jurisdiction of the SEC or the CFTC or the securities and commodities laws and regulations of the United States. Accordingly, the protections accorded to the Funds under such laws and regulations are unavailable for transactions on non-U.S. exchanges and with non-U.S. counterparties. Investments in Emerging Markets. Investing in the securities of companies (and, from time to time, governments and currencies) in emerging markets, specifically, involves additional risks and special considerations not typically associated with investing in more established economies or markets. Such risks may include, in addition to the risks listed above in connection with non-U.S. investments generally, some

if not all of which are heightened in the case of investments in emerging markets: higher dependence on exports and the corresponding importance of international trade; greater risk of substantial inflation; greater controls on foreign investment and preferential treatment for particular domestic industries or companies or other protectionist acts; increased likelihood of governmental involvement in and control over the economy; governmental decisions to cease support of economic reform programs or to impose centrally planned economies; longer settlement periods for transactions and less reliable clearance and custody arrangements; greater volatility; and less-developed corporate laws regarding fiduciary duties of officers and directors and the protection of investors. In addition, both the independence of judicial systems and their immunity from economic, political or nationalistic influences remain largely untested in many emerging market countries, and the tax systems of some emerging market economies have been marked by rapid change, which has sometimes occurred without warning and has been applied with retroactive effect, and in some cases, there is widespread non-compliance with tax laws, insufficient personnel to deal with the problem and inconsistent enforcement of the laws by inexperienced tax inspectors. All of such risk factors could potentially affect Jain Global’s ability to conduct effective due diligence in connection with the Funds’ investments and to monitor investments or otherwise impact returns on any such investment. Dependence on Developing Countries. The level of commodity prices can fluctuate widely due to supply and demand disruptions in major producing or consuming regions. In particular, recent growth in industrial production and gross domestic product has made many developing countries disproportionately large users of commodities and has increased the extent to which commodity prices are dependent on the markets of those developing countries. Political, economic and other developments that affect these developing countries may affect the level of certain commodities and, thus, the value of the Funds’ investments. Because certain commodities may be produced in a limited number of countries and may be controlled by a small number of producers, political, economic and supply-related events in those countries could have a disproportionate impact on the prices of commodity futures contracts and other types of Financial Instruments in which the Funds may invest. Events affecting the prices of commodities tend to affect prices worldwide, regardless of the location of the event. Significant Risk Transfer and Other Regulatory Capital Relief Transactions From time to time, certain regulated entities, including broker-dealers, depository institutions, bank holding companies and other financial services companies, may wish to reduce their regulatory capital usage by entering into SRT or other regulatory capital relief transactions. The Funds will enter into such SRT or other regulatory capital relief transactions, which transactions may include, among others, investments indirectly through derivatives or directly in tranches of portfolios of assets held on the balance sheet of regulated entities, subordinated loans to regulated entities or subordinated debt, AT1 securities or other types of Financial Instruments issued by regulated entities and which count towards such regulated entities’ regulatory capital. Such regulatory capital relief transactions may have return characteristics linked to assets and risks different than those described in this Brochure. Further, cash flows on the underlying instruments in such transactions may be structured to create securities with different investment characteristics such as varying maturities, payment priorities and interest rate provisions, and the extent of the payments made with respect to such transactions will be dependent on the extent of the cash flows on the underlying instruments in such transactions. Market conditions dictate the availability of any structured investments, and these investments may be less liquid and have longer average lives than certain credit positions, which may adversely impact the value of such investments or the ability of the Funds to dispose of such investments. The Funds’ investments in SRT and other regulatory capital relief securities are subject to various risks, including credit, default, market, interest rate, counterparty, equity, structural, legal and regulatory risks, including the risks described below and elsewhere in this Brochure. For example, regulators might change regulation in a way that makes a regulatory capital relief strategy more costly or impractical for a bank. Adverse regulatory developments, as well as adverse accounting or tax developments, may result in a bank being able to redeem the Funds’ regulatory capital relief investments early, which would subject the Funds

to reinvestment risk when suitable new regulatory capital relief investments are not available. Certain SRT and other regulatory capital relief transactions may include early call rights exercisable at the discretion of the originating bank, including upon regulatory changes, capital optimization or for administrative convenience. Early redemption may occur at times that are disadvantageous to the Funds. The maturity of such investments may also vary—and could be extended—due to structural features such as contractual extension provisions. Another risk relates to the inherent information asymmetry in such regulatory capital relief investments, whereby the bank typically has greater knowledge of its assets than the Funda. Full details of the portfolio of underlying securitized exposures in some regulatory capital relief transactions may not be disclosed to investors. In particular, the names of the underlying obligors may be anonymized, or only limited details of the underlying securitized exposures may be provided to investors. The Funds may not be able to fully assess the specific risks associated with any particular obligor nor be able at any time to identify the exact composition of the securitized portfolio, the probability of a loss trigger event occurring, any correlation between obligors, the probable recovery amounts or any other matter which ordinarily would be assessed when a party assumes credit exposure to one or more fully disclosed obligations. The underlying securitized exposures in SRT transactions are typically selected at the sole discretion of the originator bank (acting in its own commercial interests), subject to terms expressly set out in the relevant SRT transaction. The bank determines the initial composition of the portfolio of securitized exposures on or prior to the inception of the SRT transaction. Thereafter, and on or prior to a specified cut-off date, the bank may, but is not required to, select any existing or potential exposures to be the subject of a replenishment or reduction in the portfolio in its sole discretion, subject to certain restrictions set out in the transaction documentation. While making any replenishments or reductions, the bank is not required to, and is not expected to, take into account the interests of, or otherwise seek consent from investors or any other person and, as a result, may prioritize for inclusion in the portfolio exposures which would be harder to trade or hedge in the credit default swap market on standard terms or by other means and/or which have the highest risk or relative regulatory risk weighting. Further, there is a risk of deterioration of the asset portfolio due to faulty, flawed or poor underwriting by the bank or extrinsic factors such as weak economic conditions that could adversely affect the value of the regulatory capital securities. In addition, banking institutions are required to meet certain capital adequacy guidelines or rules that involve assessments of their assets and liabilities, including contingent and off-balance sheet items and other items that may be based on subjective inputs, as determined by regulatory agencies. These restrictions may significantly limit the future capital strategies of certain banks. Non-compliance with capital adequacy requirements may result in limitations on operations or other regulatory agency orders, which may be materially adverse to the financial institutions which undertake transactions in which the Funds may invest. If a bank fails to meet certain capital adequacy standards or requirements, the appropriate regulatory agency may be required by law to take one or more actions with respect to such undercapitalized institution. These actions may include requiring the institution to issue new shares, merge with another depository institution, restrict the rates of interest such institution pays on deposits, restrict asset growth, terminate certain activities or divest of certain or all of its subsidiaries, dismiss certain directors or officers, place the bank into a receivership or conservatorship or resolution or liquidation or take any other action that, in a regulatory agency’s judgment, is intended to resolve the problems of the institution. Any such event affecting a financial institution that has undertaken a regulatory capital relief transaction in which the Funds have invested is likely to have an adverse effect on the related securities held by the Funds. Additionally, SRT transactions are subject to evolving regulatory frameworks, both in the U.S. under the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance

Corporation (FDIC), and internationally under Basel Committee capital adequacy regulations. Changes in capital treatment, risk retention rules or disclosure requirements of banks may affect the economics or regulatory acceptability of a transaction for a bank or banks as a whole. There is also a risk that an SRT transaction may be recharacterized by regulators, leading to adverse consequences for the Funds, its counterparties or the investors. For example, (x) the Basel Committee on Banking Supervision announced in early 2025 that it was initiating a “deep dive” investigation into SRT transactions and how such transactions affect banks’ risk management, capital adequacy and connections with the broader financial system, and (y) regulators in both the EU and the US are focusing on the use by investors of leverage such as repo financing in SRT transactions. This increased regulatory scrutiny may, among other things, lead to changes in regulatory policies and/or the capital requirement applicable to the banks providing financing to investors, or additional constraints on SRT and other types of regulatory capital relief transactions, which could have an adverse impact on the viability and effectiveness of SRT and other types of regulatory capital relief transactions, the availability of investor financing and leverage and, ultimately, the pricing and availability of SRT and other regulatory capital relief investments. In addition, although the Funds’ SRT investments are not intended to constitute contracts of insurance, there is no assurance, however, that regulatory authorities in one or more jurisdictions to which the investments have or may have a nexus (including, but not limited to, the jurisdiction in which the Funds are residents) would not take a contrary view regarding the applicability of any such laws to the characterisation of any of the contracts entered into in respect of such investments. The taking of a contrary view by any such regulatory authority could have a material adverse effect on the performance of the Funds. Additionally, SRT and other regulatory capital relief transactions are subject to counterparty credit risk as such transactions entered into by Jain Global on behalf of the Funds may be bilaterally settled rather than centrally cleared. Any or all of the foregoing risks to which the Funds’ investments in SRT and other regulatory capital transactions are subject could have a material adverse effect on the performance of the Funds. C.

Risks Associated With Particular Types of Securities

Jain Global does not recommend a particular type of investment instrument to the Funds, but rather, Jain Global recommends and invests in multiple types of investment instruments. Given the broad discretion Jain Global has in managing the Funds, any one or more of the risks listed in the previous section may be incurred by Jain Global’s clients; however, because it may be useful in understanding Jain Global’s investment program, set forth below is a non-exclusive list of certain risks related to securities and other investment instruments that may be utilized within the Funds’ portfolios. Certain Financial Instruments, the risks of which are identified below, are only invested in by the MultiStrategy Funds and not by the STF Funds, or the Financial Instruments that are described in these risk factors may constitute a proportionally greater percentage of one Fund’s portfolio in comparison to the other Funds. The strategies pursued by the STF Funds are included as part of the Multi-Strategy Funds’ broader portfolio. Each Fund’s Offering Documents provide specific risks relating to the Financial Instruments in which the applicable Fund invests. ABS and MBS. The Funds invest in a variety of asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”), including subordinated ABS and MBS, commercial MBS, and agency and non-agency residential mortgage-backed securities (i.e., RMBS), and to-be-announced (i.e., TBA) and interest-only (i.e., IO) securities. Such investments bear various risks, including credit, default, market, interest rate, structural and legal risks, any or all of which could have a material adverse effect on the performance of the Funds. American Depositary Receipts and Global Depositary Receipts. The Funds make investments in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). Holders of unsponsored ADRs or

GDRs generally bear all the costs of such facilities. In addition, investments in ADRs and GDRs pose, to the extent not hedged, currency exchange risks (including blockage, devaluation and non-exchangeability), as well as a range of other potential risks relating to the underlying shares, which could include expropriation, confiscatory taxation, imposition of withholding or other taxes on dividends, interest, capital gains, other income or gross sale of disposition proceeds, political or social instability or diplomatic developments that could affect investments in those countries, illiquidity, price volatility and market manipulation. In addition, less information may be available regarding the underlying shares of ADRs and GDRs, and non-U.S. companies may not be subject to accounting, auditing and financial reporting standards and requirements comparable to, or as uniform as, those of U.S. companies. Such risks may have a material adverse effect on the performance of the Funds. Bankruptcy Claims. The Funds’ investments include debt and equity of financially distressed companies. In the event that the issuer files for bankruptcy protection, the Funds will likely be unable to sell their claims without realizing a significant loss and may be unable to recover current interest on such claims during the course of the bankruptcy case. To the extent a debt investment is unsecured, such claims may have a lower priority than secured claims. In addition, the debt of an issuer in bankruptcy may be adversely affected by an erosion of the issuer’s business and overall value. Accordingly, there can be no guarantee that a debtor will be able to satisfy all of its liabilities or that the entire amount of a bankruptcy claim will be able to be recovered. Many of the events within a bankruptcy case are adversarial and often beyond the control of the creditors, and there can be no assurance that a bankruptcy court would not approve actions that may be contrary to the interests of the Funds (in their role as creditors). Furthermore, there are instances where creditors lose their priority under Title 11 of the United States Code (i.e., are equitably subordinated), and there may be cases where the Funds may lose their priority. In addition, the bankruptcy case process can involve substantial legal, professional and administrative costs to the company and the Funds; it is subject to unpredictable and lengthy delays; during the process the company’s competitive position may erode, key management may depart and the company may not be able to invest adequately; and the issuer may not be able to reorganize and may be required to sell its assets either as a going concern or as part of a liquidation. As a result, even in those circumstances where the entire amount of a bankruptcy claim may be recovered, the performance of the Funds may be materially adversely affected by any costs incurred by the Funds in the representation of their interests in a debtor’s bankruptcy case. There also exists a significant risk that the Funds’ influence with respect to a class of securities can be lost by virtue of the size of their claim relative to the claims of the entire class. In addition, certain administrative costs and claims that have priority by law over the claims of certain creditors (for example, claims for certain taxes) may impair the recovery of an investment in a bankruptcy claim. Jain Global invests some of the Funds’ assets in Financial Instruments of issuers domiciled, or assets located, globally. Investment in the debt of financially distressed companies domiciled outside the United States involves additional risks. Bankruptcy law and process may differ substantially from that in the United States, resulting in greater uncertainty as to the rights of creditors, the enforceability of such rights, reorganization timing and the classification, seniority and treatment of claims. In certain developing countries, although bankruptcy laws have been enacted, the process for reorganization remains highly uncertain. The Funds may purchase creditor claims subsequent to the commencement of a bankruptcy case. Under judicial decisions, it is possible that such purchase may be disallowed by the bankruptcy court if the court determines that the purchaser has taken unfair advantage of an unsophisticated seller, which may result in the rescission of the transaction (presumably at the original purchase price) or forfeiture by the purchaser. Additionally, the claim may be disallowed or subordinated if the bankruptcy court determines that the seller engaged in inequitable conduct that harmed other creditors.

Reorganizations can be contentious and adversarial, and it is by no means unusual for participants to use the threat of litigation and to engage in litigation as a negotiating technique. The expense of defending against claims by third parties and paying any amounts pursuant to settlements or judgments would generally be borne by the Funds. Creditor Committees. Jain Global, on behalf of the Funds, may elect to serve on creditors’ committees, equityholders’ committees or other groups to ensure preservation or enhancement of the Funds’ positions as a creditor or equityholder. Jain Global, as a member of such committee or group may, in certain circumstances, owe a fiduciary duty and be subject to certain obligations to all members the committee represents and/or to other similarly-situated parties. Jain Global may resign from a committee or group for any reason and, in such case, the Funds may not realize the benefits, if any, of participation on the committee or group. In addition, if the Funds are represented on a committee or group, then they may be restricted or prohibited, either by law or agreement, from disposing of or increasing their investment in such company while they continue to participate on such committee or group. Commodities. The values of commodities which underlie the commodity futures contracts and other types of Financial Instruments in which the Funds invest are generally affected by, among other factors, the cost of producing commodities, changes in consumer demand for commodities, the hedging and investment strategies of producers and consumers of commodities, speculative trading in commodities by commodity pools and other market participants, disruptions in commodity supply, weather and climate conditions, changes in interest rates, rates of inflation, currency devaluations and revaluations, embargoes, conflicts, tariffs, regulatory developments, governmental, agricultural, trade, fiscal, monetary and exchange control programs and policies, political and other global events and global economic factors. In addition, governments from time to time intervene, directly and by regulation, in certain markets, often with the intent to influence prices directly. In addition, investments in physical assets, including oil, gas, electric power, transmission facilities and power plants, are subject to risks—destruction, loss, industry-specific regulation (e.g., pollution control regulation), operating failures, labor relations—that are not typically directly applicable to Financial Instrument trading. The Funds and Jain Global have no control over the factors that affect the price of commodities. Accordingly, the value of the Funds’ investments could change substantially and in a rapid and unpredictable manner, which could have a material adverse effect on the performance of the Funds. Jain Global, on behalf of the Funds, takes physical delivery of certain commodities and store or transport them for future sale. Commodities held in storage are subject to a risk of loss in the event of bankruptcy of the storage facility, or physical damage to the storage facility and its contents. Physical loss of stored commodities may be the result of insurable or uninsurable risks. In addition, the business of transporting and storing physical commodities (e.g., natural gas) may expose the Funds to additional laws and regulations that would not otherwise apply to the Funds’ other commodities investments, as well as expose the Funds and/or Jain Global to reputational risk or harm due to environmental damage or personal injury caused by the transportation or storage of physical commodities. Convertible Securities. If a convertible security held by the Funds is called for redemption by the issuer of such security, then the Funds will be required to permit the issuer to redeem the security, convert it into the underlying common stock or sell it to a third party. Any of these actions could have a material adverse effect on the performance of the Funds. Credit Trading. Credit trading in which Jain Global engages on behalf of the Funds involves the risks of interest-rate changes, the creditworthiness of issuers, market liquidity and the unwillingness of lenders to provide financing due to uncertainty concerning the balance sheet integrity of potential borrowers. Credit trading may involve materially greater risk than many other alternative strategies. Currencies. A principal risk in trading currencies is the rapid fluctuation in the market prices of currency contracts. Prices of currency contracts that may be traded by the Funds are affected generally by relative interest rates, which in turn are influenced by a wide variety of complex and difficult to predict factors such as money

supply and demand, balance of payments, inflation levels, fiscal policy, and political and economic events. In addition, governments from time to time intervene, directly and by regulation, in these markets, with the specific effect, or intention, of influencing prices which may, together with other factors, cause all of such markets to move rapidly in the same direction because of, among other things, interest rate fluctuations. In addition, the Funds may invest in Financial Instruments that are denominated in currencies other than the U.S. dollar or are convertible into Financial Instruments that are denominated in currencies other than the U.S. dollar. In holding these and other positions, the Funds are subject to the risk that exchange rate movements will cause losses on positions which would otherwise have been profitable. Debt Securities. Debt securities of all types of issuers (including sovereign debt) have speculative characteristics, regardless of whether they are rated. The issuers of such instruments (including sovereign issuers) may face significant ongoing uncertainties and exposure to adverse conditions that may undermine the issuer’s ability to make timely payment in full of interest and principal in accordance with the terms of the obligations. Changes in interest rates can affect the value of the Funds’ debt investments, including causing the value of such investments to decline. In addition, prepayments of debt instruments may have a material adverse effect on the performance of the Funds. First, particular investments may experience outright losses, as in the case of an interest-only instrument in an environment of faster actual or anticipated prepayments. Second, particular investments may underperform relative to hedges that Jain Global may have constructed for these investments, resulting in a loss to the Funds’ overall portfolio. Additionally, the Funds may be subject to claims from creditors of an obligor that debt held by the Funds should be equitably subordinated. Certain debt investments in which the Funds invest, such as zero-coupon bonds and deferred interest bonds, also may experience greater volatility in market value than debt obligations that provide for regular payments of interest. Similarly, the market prices of certain debt investments such as stressed and distressed instruments are highly volatile. In each case, an event of default in respect of such investments could have a material adverse effect on the performance of the Funds. Further, in the event of the insolvency or similar event in respect of a portfolio company in which the Funds are invested, the Funds’ debt investment therein will be subject to fraudulent conveyance, subordination and preference laws, which also could have a material adverse effect on the performance of the Funds. The Funds invest in bonds or other fixed income securities that are “higher yielding” (including non-investment grade) debt securities which generally are more volatile and may be subordinated to certain other outstanding securities and obligations of the issuer. High-yield securities may also not be protected by financial covenants or limitations on additional indebtedness and also tend to be more sensitive to economic conditions than are higher-rated securities. In addition, the Funds may invest in bonds of issuers that do not have publicly traded equity or other securities or credit defaults swaps, making it more difficult to hedge the risks associated with such investments. Further, such investments may include debt obligations that have a heightened probability of being in covenant or payment default in the future or that are currently in default. Defaulted obligations might be repaid only after lengthy workout or bankruptcy proceedings, during which the issuer might not make any interest or other payments, and such proceedings may result only in partial recovery of cash payments or an exchange of the defaulted security for other debt or equity securities of the issuer or its affiliates, which may in turn be illiquid or speculative. The Funds’ investments may also be linked to bank loans and participations. Risks associated with these obligations include, but are not limited to: inadequate perfection of the security interest granted under the loan documents, the possible invalidation or compromise of a loan transaction as a fraudulent conveyance or preference under relevant creditors’ rights laws; the validity and seniority of bank claims and guarantees; environmental liability that may arise with respect to collateral securing the obligations; adverse consequences resulting from participating in such instruments with other institutions with lower credit quality; long and less certain settlement periods; limitations on the ability of Jain Global to directly enforce its rights with respect to participations and illiquidity in the market for the resale of such loans.

The Funds also invest in collateralized debt obligations and collateralized loan obligations, which are subject to many of the risks described, including credit risk (default risk, credit spread risk and credit spread volatility risk), liquidity and interest rate risk, as well as risk related to any concentration of the underlying portfolios of such investments. Collateralized Debt Obligations and Collateralized Loan Obligations. The Funds may invest in CDOs and similar structured debt products (collectively, “CDO Securities”). CDO Securities in which the Fund invests will be backed by certain fixed-income securities, such as asset-backed securities, corporate leveraged loans, credit default swaps and other derivatives. In addition, the Fund may invest in collateralized loan obligations (“CLOs”). CDO Securities and CLOs are subject to various risks, including, as applicable, the following credit, liquidity, interest rate and other risks, any or all of which could have a material adverse effect on the performance of the Funds: Credit Default Risk and Credit Spread Risk. Investments by the Funds in CDOs and CLOs, including synthetic and cash-based structures, expose the Funds to both credit default risk and credit spread risk. These securities are typically backed by portfolios of debt obligations or are referenced to such portfolios via credit default swaps or other derivatives. Credit default risk arises from the possibility that an underlying obligor or reference entity will fail to make required payments of principal or interest, triggering losses for holders of the CDO or CLO tranche. Synthetic CDOs, in particular, are exposed to credit events through derivative documentation and may involve additional counterparty risk. Credit spread risk refers to the potential for adverse changes in the market spreads of underlying credit instruments or reference obligations. Widening credit spreads—whether due to macroeconomic deterioration, issuer-specific credit concerns or market dislocations—can materially reduce the mark-to-market value of CDO or CLO tranches, even in the absence of actual defaults. These risks may be more pronounced for mezzanine or junior tranches, which bear the first losses from credit deterioration and are more sensitive to spread movements. The valuation of synthetic and cash CDO and CLO tranches is particularly sensitive to assumptions about default correlation, recovery rates and the shape of the credit curve. Small changes in model inputs or market conditions can lead to substantial changes in tranche value. Moreover, due to the structured nature of these instruments, losses resulting from defaults or spread movements may be non-linear and amplified by embedded leverage or structural features such as subordination triggers or overcollateralization tests. Limited Diversification. CDOs and CLOs may invest in concentrated portfolios of assets. The concentration of an underlying portfolio in any one obligor would subject the holder of the related CDO Securities or CLOs to a greater degree of risk with respect to defaults by such obligor and the concentration of a portfolio in any one industry would subject the holder of the related CDOs or CLOs to a greater degree of risk with respect to economic downturns relating to such industry or region. Leverage Risk. The Funds’ investment in CDOs and CLOs may involve significant leverage. Leverage is embedded in all classes of a CDO or CLO other than the most senior tranche. While the leverage presents opportunities for increasing the Fund’s total return, it has the effect of potentially increasing losses as well. Risks of Investment Focus. The value of any CDO Securities and CLOs owned by the Funds generally will fluctuate with, among other things, the financial condition of the obligors or issuers of the underlying portfolio of assets or reference assets of the related CDO or CLO (“Underlying Collateral”), general economic conditions, the condition of certain financial markets, political

events, developments or trends in any particular industry and changes in prevailing interest rates or credit spreads. Interest Rate Mismatch. CDOs and CLOs may be subject to significant interest rate risk. Some of the Underlying Collateral of an issuer of a CDO or CLO may bear interest at a fixed rate, while the CDO Security or CLO may bear interest at a floating rate. As a result, there could be a floating/fixed rate mismatch between such CDO Security or CLO and the Underlying Collateral. Lower Credit Quality Securities. There are no restrictions on the credit quality of the investments of the Funds. CDO Securities and CLOs in which the Funds may invest may be deemed by rating agencies to have substantial vulnerability to default in payment of interest and/or principal, or may have no credit rating at all. In general, the ratings of nationally recognized rating organizations represent the opinions of such agencies as to the quality of securities that they rate. Such ratings are relative and subjective; they are not guarantees of performance or absolute standards of credit quality and do not evaluate the market value risk of the securities. It is also possible that a rating agency might not change its rating of a particular issue on a timely basis to reflect subsequent events. Liquidity of Markets. At times, the fixed-income markets have in the past experienced significant falloffs in liquidity. While such events may sometimes be attributable to changes in interest rates or credit spreads or other factors, the cause is not always apparent. During such periods of market illiquidity, a CDO or CLO may not be able to unwind its positions or sell assets in its portfolio or may only be able to do so at unfavorable prices. Such “liquidity risk” could adversely impact the value of the Funds’ portfolio, and may be difficult or impossible to hedge against. Derivative Instruments. Certain swaps, options and other derivative instruments may be subject to various types of risks, including market risk, liquidity risk, credit risk, legal risk and operations risk. Further, regulatory restraints, such as requirements related to recordkeeping, reporting, portfolio reconciliation, central clearing, minimum margin for uncleared OTC instruments and mandatory trading on electronic facilities, and other transaction-level obligations may restrict the instruments that Jain Global may trade on behalf of the Funds and may cause Jain Global to forgo using certain trading counterparties for the Funds, which could have a material adverse effect on the performance of the Funds. Parties that act as dealers in swaps are also subject to extensive business conduct standards, additional “know your counterparty” obligations, documentation standards and capital requirements. All of these requirements add costs to the legal, operational and compliance obligations of Jain Global, on behalf of itself and the Funds, and raise the costs of entering into derivative transactions and increase the amount of time that Jain Global spends on non-investment-related activities. In addition, the regulatory and tax environment for derivative instruments in which the Funds participate is evolving, and changes in the regulation or taxation of such instruments may have a material adverse effect on the performance of the Funds. Options. The Funds may incur risks associated with the sale and purchase of options. Specifically, the Funds may suffer a total loss of premium (plus transaction costs) if an option purchased by the Funds expire without being exercised. Even though an option purchased by the Funds may be in-the-money at various times prior to their expiration date, the Funds’ ability to realize the value of such options depends on when and how the options may be exercised. In addition, if Jain Global engages in uncovered option writing for the Funds, then the Funds would bear the risk of a change in the price of the underlying security vis-à-vis the exercise price, which risk would be substantial and potentially unlimited. Similarly, changes in the volatility of the price of an underlying security or index may make a large difference to the theoretical value of a derivative instrument. Futures. The value of futures contracts depends upon the price of the Financial Instruments or index underlying them. The prices of futures contracts are highly volatile, and price movements of futures contracts can be influenced by, among other things, interest rates, changing supply and demand

relationships, trade, fiscal, monetary and exchange control programs and policies of governments, as well as national and international political and economic events and policies. In addition, investments in futures contracts are also subject to the risk of the failure of any of the exchanges on which the Funds’ positions trade or of their clearinghouses or counterparties. Futures positions may also be illiquid because of certain commodity exchanges limitations, which could prevent the Funds from promptly liquidating unfavorable positions or entering into desired trades. Foreign futures transactions involve executing and clearing trades on a foreign exchange. No domestic organization regulates the activities of a foreign exchange, including the execution, delivery, and clearing of transactions on such an exchange, and no domestic regulator has the power to compel enforcement of the rules of the foreign exchange or the laws of the foreign country. Accordingly, the Funds may not be afforded certain of the protections which apply to domestic transactions, including the right to use domestic alternative dispute resolution procedures. In addition, the price of any foreign futures or option contract may be affected by any fluctuation in the foreign exchange rate between the time the order is placed and the time the foreign futures contract is liquidated or the time the foreign option contract is liquidated or exercised. Credit Default Swaps. Credit default swaps can be used to implement Jain Global’s view that a particular credit, or group of credits, will experience credit improvement or deterioration. In the case of expected credit improvement, the Funds may sell credit default protection in which they receive a premium to take on the risk. In such an instance, the obligation of the Funds to make payments upon the occurrence of a credit event creates leveraged exposure to the credit risk of the referenced entity. The Funds may also buy credit default protection with respect to a referenced entity if, in Jain Global’s judgment, there is a high likelihood of credit deterioration. In such instance, the Funds will pay a premium regardless of whether there is a credit event. In addition, credit default swaps are subject to counterparty credit risk as credit default swap contracts entered into by Jain Global on behalf of the Funds may be bilaterally settled rather than centrally cleared. Accordingly, settlement of such contracts may be delayed beyond the time frame originally anticipated by counterparties, and disputes may be more likely to arise as settlement is delayed. Such delays may adversely affect the Funds’ ability to otherwise productively deploy capital that is committed with respect to such contracts, which could have a material adverse effect on the performance of the Funds. Recovery amounts, if any, may be determined based on bank or servicer estimates and may diverge materially from ultimate realizations. When the Funds invest in a credit default swap rather than holding the underlying debt security of a reference entity, they are exposed to a different and often more complex set of risks. Unlike a bondholder, the Funds do not receive interest payments or benefit from contractual creditor rights, such as the ability to enforce covenants or participate directly in restructuring negotiations. Instead, the Funds’ returns depend entirely on the occurrence and interpretation of a defined credit event under the credit default swap contract, as well as on the subsequent settlement process. As a result, the Funds may suffer losses—or fail to benefit from positive developments affecting a reference entity—solely due to the terms or timing of the credit default swap contractual events and process. Furthermore, the value of a credit default swap position may be influenced by factors that are unrelated to the underlying credit fundamentals of the reference entity. These include credit default swap counterparty credit risk, differences in collateralization terms, dealer positioning, market liquidity and broader technical dynamics in the credit default swap market. This creates basis risk, as credit default swap spreads may widen or tighten in ways that diverge from movements in the reference entity’s cash bonds. For the Funds, such divergence can result in performance outcomes that differ materially— either favorably or unfavorably—from those experienced by investors who hold the reference obligations directly. These risks may be particularly acute in stressed or illiquid markets, where credit

default swap pricing can decouple from bond pricing due to dislocations in funding, margining or counterparty behavior. Forward Contracts. The Funds enter into forward contracts and options thereon, including nondeliverable forwards. The principals who deal in the forward contract market are not required to continue to make markets in such contracts. There have been periods during which certain participants in forward markets have refused to quote prices for forward contracts or have quoted prices with an unusually wide spread between the price at which they were prepared to buy and that at which they were prepared to sell. The imposition of credit controls or price risk limitations by governmental authorities may limit such forward trading to less than that which Jain Global would otherwise recommend, which could have a material adverse effect on the performance of the Funds. In their forward trading, the Funds will be subject to the risk of the failure of, or the inability or refusal to perform with respect to their forward contracts by, the principals with which the Funds trade. The Funds’ assets on deposit with such principals will also generally not be protected by the same segregation requirements imposed on certain regulated brokers in respect of customer funds on deposit with them. Jain Global may order trades for the Funds in such markets through agents. Accordingly, the insolvency or bankruptcy of such parties could also have a material adverse effect on the performance of the Funds. Contracts for Differences. There are a number of risks to the Funds associated with trading contracts for differences (“CFDs”). There may be liquidity risk if the underlying instrument is illiquid because the liquidity of a CFD is based on the liquidity of the underlying instrument. A further risk is that adverse movements in the underlying security will require the posting of additional margin. CFDs also carry the risk that the counterparty to the CFD transaction may be unable or unwilling to make payments or to otherwise honor its financial obligations under the terms of the contract, which may reduce the value of the contract. Entry into a CFD transaction may, in certain circumstances, require the payment of an initial margin and adverse market movements against the underlying stock may require additional margin payments. CFDs may be considered illiquid. To the extent that there is an imperfect correlation between the return on the Funds’ obligations to their counterparties under the CFDs and the return on related assets in their portfolios, the CFD transaction may increase the Funds’ financial risk. Distressed Obligations. The Funds make investments in issuers in weak financial condition, experiencing poor operating results, having substantial capital needs or negative net worth, facing special competitive or product obsolescence problems. Among the risks inherent in investments in troubled entities is the risk that it frequently may be difficult to obtain information as to the true condition of such issuers. Such investments may also be adversely affected by laws relating to, among other things, fraudulent transfers and other voidable transfers or payments, lender liability and the bankruptcy court’s power to disallow, reduce, subordinate, recharacterize debt as equity or disenfranchise particular claims. The ability of such companies to pay their debts on schedule could be affected by adverse interest rate movements, changes in the general economic climate, economic factors affecting a particular industry or specific developments within such companies. There is no assurance that value of the assets collateralizing the Funds’ investments will be sufficient or that prospects for a successful reorganization or similar action will become available. In any reorganization or liquidation proceeding relating to a company in which the Funds invest, the Funds may lose their entire investment, may be required to accept cash or securities with a value less than their original investment and/or may be required to accept payment over an extended period of time. In addition, under certain circumstances, payments and distributions may be disgorged if any such payment is later determined to have been a fraudulent conveyance or a preferential payment. In liquidation (both in and out of bankruptcy) and other forms of corporate reorganization, there exists the risk that the reorganization either will be unsuccessful, will be delayed or will result in a distribution of

cash or a new Financial Instrument the value of which will be less than the purchase price to the Funds of the Financial Instrument in respect of which such distribution was made. Equity Financial Instruments Generally. The value of equity securities of public and private, listed and unlisted companies and equity derivatives generally varies with the performance of the issuer and movements in the equity markets. As a result, the performance of the Funds may be materially adversely affected if the Funds invest in equity instruments of issuers whose performance diverges from Jain Global’s expectations or if equity markets generally move in a single direction and the Funds have not hedged against such a general move. The Funds also may be exposed to risks that issuers will not fulfill contractual obligations such as, in the case of convertible securities or private placements, delivering marketable common stock upon conversions of convertible securities and registering restricted securities for public resale. To the extent the Funds enter into dividend swaps or other instruments referencing expected dividend streams, they will be exposed to risks relating to the declaration and payment of dividends by the underlying issuers. Dividends are inherently discretionary and may be reduced, suspended or cancelled at the issuer’s election, often without prior notice. In addition, dividend payments may be subject to regulatory or governmental restrictions, particularly in the case of financial institutions or issuers in jurisdictions that impose capital conservation buffers or dividend payout limits. These factors may result in realized cash flows under a dividend swap diverging significantly from expected levels, potentially causing material mark-to-market losses. Furthermore, dividend forecasts embedded in the pricing of such instruments may be inaccurate or subject to sudden revision based on macroeconomic or firm-specific developments. Dividend swaps are also subject to risks common to other derivative instruments, including modeling, basis, liquidity and legal risk. In addition, these transactions may expose the Funds to counterparty risk, including the risk that a counterparty may default or fail to perform its obligations, particularly in the event of market stress. Exchange-Traded Funds. Jain Global invests in exchange-traded funds (“ETFs”). ETF shareholders are generally subject to the same risk as holders of the underlying Financial Instruments they are designed to track. ETFs are also subject to certain additional risks, including the risk that their prices may not correlate perfectly with changes in the prices of the underlying Financial Instruments they are designed to track, and the risk of trading in an ETF halting due to market conditions or other reasons, based on the policies of the exchange upon which the ETF trades. Generally, each shareholder of an ETF bears a pro rata portion of the ETF’s expenses, including management fees. Accordingly, in addition to bearing the Multi-Strategy Fund Expenses and Investment Adviser Pass-Through Multi-Strategy Fund Expenses, the Funds may also bear similar expenses of an ETF. As described below, ETFs that invest in virtual currency are afforded the protections of the traditional securities exchanges on which they trade, such instruments may still be adversely affected by the risks associated with the exchanges on which the underlying virtual currency is traded. Illiquid Financial Instruments. Certain Financial Instruments may be or become illiquid because, for example, they are subject to legal or other restrictions on transfer or there is no liquid market for such Financial Instruments. Valuation of such Financial Instruments also may be difficult or uncertain. The market prices, if any, for such Financial Instruments tend to be volatile and may not be readily ascertainable, and the Funds may not be able to sell them when they desire to do so or to realize what they perceive to be their fair value in the event of a sale. The Funds may not be able to readily dispose of such illiquid investments and, as a result, the Funds may be required to hold such Financial Instruments despite adverse price movements. Due to the illiquid nature of certain Financial Instruments the Funds are expected to acquire, Jain Global will be unable to predict what the exit strategy may ultimately be for certain illiquid Financial Instruments, or that one will definitely be available prior to the end of the Funds’ term. Exit strategies that appear to be viable when an investment is initiated may be precluded by the time the investment is ready to be realized due to economic, legal, political, regulatory or other factors. The sale of illiquid Financial Instruments often requires more time and results in higher brokerage charges or dealer discounts and other selling expenses than does the sale of Financial Instruments eligible for trading on national securities exchanges or in the OTC markets. Even those

markets which Jain Global expects to be liquid can experience periods, possibly extended periods, of illiquidity. Occasions have arisen in the past where previously liquid investments have rapidly become illiquid. Initial Public Offerings. Investments in initial public offerings (or shortly thereafter) may involve higher risks than investments issued in secondary public offerings or purchases on a secondary market due to a variety of factors, including the limited number of shares available for trading, unseasoned trading, lack of investor knowledge of the issuer and limited operating history of the issuer. In addition, some companies in initial public offerings are involved in relatively new industries or lines of business, which may not be widely understood by investors. Some of these companies may be undercapitalized or regarded as developmental stage companies, without revenues or operating income, or the near-term prospects of achieving them. These factors may contribute to substantial price volatility for such securities and, thus, for the value of Funds’ portfolios. Insurance-Related Risks. Investments in public and private insurance and reinsurance companies, catastrophe bonds, life insurance policies and annuities, weather-related derivatives and other Financial Instruments linked to insurance and reinsurance risks and similar factors, are subject to all of the numerous inherent risks of the insurance and reinsurance industry, such as weather-related and other natural or man-made catastrophes, which are unpredictable and could have a material adverse effect on the performance of the Funds. A significant natural disaster, such as a hurricane or earthquake, or terrorist incident, or a series of such events, could have a material adverse effect on the performance of the Funds. In addition, in connection with its investment diligence process related to such investments, Jain Global may rely on models and analysis performed by third parties (including the sponsors of such insurance-linked investments), and actual loss experience can materially differ from that generated by such models. Actual frequency of catastrophic events and their attendant losses could materially differ from those estimated by such models. An investment in insurance-linked investments also will expose the Funds to the credit risk of several parties involved in the reinsurance product chain, as well as the credit risk of reinsurance brokers and other service providers with whom the sponsoring reinsurer conducts business related to the reinsurance policies to which such insurance-linked investments have exposure. Such investments also may be subject to collateral risks, as well as regulatory and legal risks. Loan Investments. The Funds’ success in the area of loan investing, which include the purchase and origination of loans (which generally is expected to be conducted indirectly through one or more additional, affiliated entities in respect of a Fund to carry out the purposes of such Fund (and such vehicles may be invested in by other Funds) (each such vehicle, a “Fund Vehicle”)), will depend, in part, on Jain Global’s ability to acquire loans for the Funds on advantageous terms. In procuring loan investments for the Funds, Jain Global will compete with a broad spectrum of investors and institutions. Increased competition for, or a diminution in the available supply of, qualifying loans could result in lower yields on such loans, which could reduce returns to investors. Further, such loans may be subject to price volatility due to various factors including changes in interest rates, market perception of the creditworthiness of the issuer and general market liquidity. And, in addition to the sensitivity of loans to overall interest rate movements, loan investments also involve a fundamental credit risk based on the borrower’s ability to make principal and interest payments on the loans it receives. Moreover, such loans could be “covenant-lite” loans, which possess fewer covenants that protect lenders than other loans or no such covenants whatsoever. Investments in covenant-lite loans will be particularly sensitive to the risks associated with loan investments. Municipal Securities. Various factors may adversely affect the value and yield of municipal securities. These factors include political or legislative changes and uncertainties related to the tax status of municipal securities or the rights of investors in these securities. To the extent that the Funds invest heavily in a particular state’s municipal securities, the Funds will be more vulnerable to factors affecting that state. The Funds’ investments in revenue securities, where principal and interest payments are made from the revenue of a specific project or facility, and not general tax revenues, may have increased risks. Factors affecting the project or facility, such

as local business or economic conditions, could have a significant impact on the project’s ability to make payments of principal and interest on these securities. PIPE Transactions. Private investments in public companies whose stocks are quoted on stock exchanges or which trade in the OTC securities market, a type of investment commonly referred to as a “PIPE” transaction, may be entered into with smaller capitalization public companies, which will entail business and financial risks comparable to those of investments in the publicly-issued securities of smaller capitalization companies, which may be less likely to be able to weather business or cyclical downturns than larger companies and are more likely to be substantially hurt by the loss of a few key personnel. In addition, PIPE transactions will generally result in the Funds acquiring either restricted stock or an instrument convertible into restricted stock, which investment may be illiquid. The ability to dispose of securities acquired in PIPE transactions may depend on the registration of such securities for resale. Any number of factors may prevent or delay a proposed registration. There can be no guarantee that there will be an active or liquid market for the stock of any small capitalization company due to the possible small number of stockholders. As a result, even if the Funds are able to have securities acquired in a PIPE transaction registered or sell such securities through an exempt transaction, the Funds may not be able to sell all the securities on short notice, and the sale of the securities could lower the market price of the securities. There is no guarantee that an active trading market for the securities will exist at the time of disposition of the securities, and the lack of such a market could have a material adverse effect on the performance of the Funds. Preferred Stock and AT1 Securities. Investments in preferred stock and AT1 securities involve risks related to priority in the event of bankruptcy, insolvency or liquidation of the issuing company and how dividends are declared. Preferred stock and AT1 securities may also be subject to optional or mandatory redemption provisions. Private Securities. Certain of the Funds’ investments involve private securities, which are generally more difficult to sell than publicly traded securities, as there is often no liquid market, which may result in selling interests at a discount. In addition, private securities generally are more difficult to value than publicly traded securities as such valuations are inherently uncertain. Real Estate-Related Financial Instruments. Financial Instruments issued by entities which invest in real estate, including “real estate investment trusts”, generally will be subject to the risks incident to the ownership and operation of commercial real estate and/or risks incident to the making of nonrecourse mortgage loans secured by real estate. Such risks include the risks associated with both the domestic and international general economic climates; local real estate conditions; risks due to dependence on cash flow; risks and operating problems arising out of the absence of certain construction materials; changes in supply of, or demand for, competing properties in an area (as a result, for instance, of over-building); the financial condition of tenants, buyers and sellers of properties; changes in availability of debt financing; energy and supply shortages; changes in the tax, real estate, environmental, and zoning laws and regulations; various uninsured or uninsurable risks; natural disasters; and the ability to manage the real properties. In addition, the Funds may incur the burdens of ownership of real property, which include the paying of expenses and taxes, maintaining such property and any improvements thereon, and ultimately disposing of such property. Repurchase and Reverse Repurchase Agreements. The use of repurchase and reverse repurchase agreements involves certain risks, including risks of default and insolvency. For example, if the seller of securities under a reverse repurchase agreement defaults on its obligation to repurchase the underlying securities, as a result of its bankruptcy or otherwise, then Jain Global, on behalf of the Funds, may seek to dispose of such securities, which action could involve costs or delays. If the seller becomes insolvent and subject to liquidation or reorganization under applicable bankruptcy or other laws, then the ability to dispose of the underlying securities may be restricted. Restricted Financial Instruments. Restricted Financial Instruments cannot be sold to the public without registration under the Securities Act. Unless registered for sale, restricted securities can be sold only in privately

negotiated transactions or pursuant to an exemption from registration (e.g., under Rule 144A of the Securities Act). Because these instruments are not eligible for public distribution and cannot be widely marketed or offered to individual investors, the potential buyer base is structurally limited. This constraint can significantly reduce the level of market demand, lower trading volumes and result in diminished price transparency. Although these securities may be resold in privately negotiated transactions, because there is often little liquidity for these securities, they may be difficult and take a substantial amount of time to sell, and the prices realized from these sales could be less than those originally paid by the Funds. In addition, restricted securities may be more difficult to value, particularly in the absence of observable market quotations, and may require reliance on internal models or third-party valuation inputs. Restricted securities may involve a high degree of business and financial risk which could have a material adverse effect on the performance of the Funds. Virtual Currency and Virtual Currency Derivatives. The Funds may invest in a variety of virtual currencies (also known as “cryptocurrencies” or “digital currencies”), or similar assets that utilize blockchain technology, and virtual currency derivatives, as well as ETFs that may invest in virtual currencies or virtual currency derivatives. Virtual currencies are relatively new, evolving products based upon new and evolving technologies. An investment in any virtual currency is subject to a variety of risks, including technological, security and regulatory risks as well as associated uncertainties over the future existence, support and development of such virtual currency. Virtual currencies may also experience unusual volatility. Any such investment is highly speculative and subject to the risk that the entirety, or a material portion, of such investment or its value may be lost. Virtual currency derivatives, such as futures or options on futures on a virtual currency, are also a relatively new asset class, and trading in these instruments, like trading in the virtual currencies themselves, carries a high level of risk. Investments in virtual currency derivatives, like direct investments in virtual currencies, should be considered substantially more speculative and significantly more likely to result in a total loss of capital than many other investments. In addition, many of the risks associated with trading traditional futures and OTC derivatives are equally attributable to virtual currency iterations of such instruments. Investments in virtual currencies involve a number of risks, for example: price volatility, cybersecurity and other risks associated with the use of exchanges and other forums to trade virtual currencies, the use of digital wallets or other custodial solutions, and the potential impact of future government action or regulation. Such risks may adversely affect the value of virtual currencies and virtual currency derivatives. Special Purpose Acquisition Companies. Investment in a special purpose acquisition company (a “SPAC”) is subject to the risk that, among other things, (i) such SPAC may not be able to locate or acquire target companies by an applicable deadline, (ii) assets of such SPAC placed in a trust may be subject to third-party claims against such SPAC, which may reduce the per share liquidation price received by the investors in the SPAC, (iii) such SPAC may be exempt from the rules promulgated by the SEC to protect investors in “blank check” companies, such as Rule 419 promulgated under the Securities Act, so that investors in such SPAC may not be afforded the benefits or protections of those rules, (iv) such SPAC may only be able to complete one business combination, which may cause it to be solely dependent on a single business, (v) the value of any target company may decrease following its acquisition by such SPAC, (vi) the value of the funds invested and held in the trust decline, (vii) the inability to redeem due to the failure to hold the securities in the SPAC on the record date or the failure to vote against the acquisition and (viii) if the SPAC is unable to consummate a business combination, then public stockholders will be forced to wait until the applicable deadline before liquidating distributions are made. In addition, most SPACs are illiquid and have a concentrated shareholder base. The Funds may invest in a SPAC that, at the time of investment, has not selected or approached any prospective target businesses with respect to a business combination. In such circumstances, there may be limited basis to evaluate the possible merits or risks of such SPAC’s investment in any particular target business. To the extent that a SPAC completes a business combination, it may be affected by numerous risks inherent in the business operations of the acquired company or companies. For these and additional reasons, investments in SPACs are speculative and involve a high degree of risk.

Special Situations Investments. Special situations investments generally are based on the expected occurrence of an impending event such as a merger, reorganization or spin-off. Accordingly, special situation investors are subject to material non-consummation risk. If the contemplated transaction does not occur, then the performance of the Funds may be materially adversely affected. Often there is little, if any, means of successfully hedging non-consummation risk. Jain Global’s investment activities may include activities that are hostile in nature and subject the Funds to the risks of becoming involved in litigation by third parties. This risk may be greater where Jain Global, on behalf of the Funds, exercises control or significant influence over the company’s direction. The expense of defending against claims and paying any amounts pursuant to settlements or judgments would be directly borne by the Funds. Further, ownership of companies over certain threshold levels involves additional filing requirements and substantive regulation of such owners, and if Jain Global, on behalf of the Funds, fails to comply with all of these requirements, then the Funds may be forced to disgorge profits, pay fines or otherwise bear losses or other costs from the failure to comply. In addition, any index rebalancing strategies employed by Jain Global on behalf of the Funds may result in increased concentration risk with respect to securities or issuers that are part of such an index, and there can be no assurance that Jain Global will correctly forecast any modifications or reweightings or the resulting security price changes of the securities making up an index or indices. Further, losses in index rebalancing strategies may be amplified as a result of other market participants also pursuing index rebalancing strategies and entering into similar directional trades. Significant Risk Transfers. The Funds enter into “significant risk transfer” transactions, which allow a counterparty to transfer the risk of tranche(s) of their loan portfolio to investors in a securitized framework to achieve regulatory capital relief. Such investments bear various risks, including credit, default, market, interest rate, structural, legal and regulatory risks, any or all of which could have a material adverse effect on the performance of the Funds. Structured Notes. Structured notes have rates of interest that vary based on a designated floating rate formula or index. The value of these investments is closely tied to the absolute levels of such rates or indices, or the market’s perception of anticipated changes in those rates or indices. The movements in specific indices or interest rates may be difficult or impossible to hedge. Trade Finance. The Funds invest in the financing of accounts receivables and accounts payables, as well as various other supply chain financial assets (collectively “Trade Finance Assets”) relating to the supply of goods and services by suppliers (“Suppliers”) to corporate buyers (“Buyers”) (each, a “Trade Finance Transaction” and together, the “Trade Finance Transactions”). Trade Finance Transactions can be categorized into two types: Buyer-led and Supplier-led. Buyer-led Trade Finance Transactions are arranged by a Buyer or Buyer group to manage and finance its accounts payable to its Suppliers, while Supplier-led Trade Finance Transactions are arranged by a Supplier to obtain financing against its accounts receivable. The Funds may invest in Trade Finance Assets through various means, including (i) financing or purchasing a participation interest in a Trade Finance Asset from a third party (an “Originator”) who has itself financed a Supplier or a Buyer directly or who has otherwise acquired Trade Finance Assets from other parties, or (ii) directly financing a Supplier or a Buyer by either lending money to such Supplier or Buyer secured by Trade Finance Assets or purchasing Trade Finance Assets from such Supplier or Buyer. The Funds’ investments include Trade Finance Assets originated by third-party electronic platforms that support Trade Finance Transactions (a “Platform”). Where appropriate, the Funds may structure their investments in Trade Finance Assets indirectly through a Fund Vehicle. Investment in Trade Finance Assets involves the risk of fraudulent information supplied by Suppliers, Buyers, Originators, Platforms and/or other third parties. If information has been provided fraudulently, then the Trade Finance Asset may not actually exist or, if it does exist, its nature and risk profile may be materially different than what is purported to be the case. This could result in the loss of the Funds’ investment in the affected Trade Finance Asset. Most Originators and Platforms do not allow for third-party audit and validation of their businesses or the underlying Trade Finance Assets, which can lead to increased incidents of fraud. The Funds

may also be exposed to the risk of default or insolvency by the Buyers and/or Suppliers in respect of Trade Finance Assets (a “Recourse Party”). The Funds may also be subject to credit risk exposure to the relevant Originator due to collections from Recourse Parties owed to the Fund passing through the hands of such Originator or third parties before the Fund receives them. Operational, liquidity or other issues also may affect the Originator’s ability to perform its contractual obligations to the Fund. In addition, Trade Finance Transactions may present risks related to anti-money laundering (“AML”) regulations and sanctions laws. The Funds may be exposed to counterparties, transactions or payment flows that are directly or indirectly associated with individuals, entities or jurisdictions subject to sanctions. These exposures may arise unknowingly, particularly where there is a lack of transparency in the ownership of Recourse Parties. These risks are elevated in Trade Finance Transactions involving Buyers and Suppliers domiciled in high-risk or emerging market jurisdictions. The Funds may rely on representations from Originators, Platforms or Recourse Parties in evaluating the legitimacy of a Trade Finance Transaction and its compliance with applicable AML and sanctions laws. There can be no assurance that such representations are accurate or complete, or that the Fund will be able to detect or prevent potential violations or exposure to illicit activity. Where a Platform is originating a Trade Finance Asset, Jain Global is reliant on the Platform for the veracity of the diligence information it processes. Jain Global typically has no audit or verification rights over a Platform’s systems, practices or compliance procedures. When conducting its own due diligence, Jain Global will rely on the resources reasonably available to it, which in some cases may prove to be insufficient, inaccurate, incomplete or unreliable. Any actual or perceived breach of AML or sanctions regulations could result in regulatory investigations, fines, reputational harm or other adverse consequences, any of which could materially adversely affect the performance of the Funds. When-Issued and Forward Commitment Financial Instruments. The purchase of securities on a “when-issued” basis involves a commitment to purchase or sell securities at a future date (typically one (1) or two (2) months later). No income accrues on securities that have been purchased on a when-issued basis prior to delivery to the Funds. When-issued securities may be sold prior to the settlement date. If Jain Global, on behalf of the Funds, disposes of the right to acquire a when-issued security prior to its acquisition, then the Funds may incur a gain or loss. In addition, there is a risk that securities purchased on a when-issued basis may not be delivered to the Funds. In such cases, the performance of the Funds could be materially adversely affected. No Limitations on Financial Instruments. There is no limitation on the Financial Instruments in which Jain Global may invest on behalf of the Funds. New Financial Instruments are continually developing and investments in such Financial Instruments may involve material and as yet unanticipated risks. Micro-, Small- and Medium-Capitalization Companies. Investments in securities of micro- and smallcapitalization companies involve higher risks in some respects than do investments in securities of larger “bluechip” companies. For example, prices of securities of micro- and small-capitalization, and even mediumcapitalization, companies are often more volatile than prices of securities of large-capitalization companies and may not be based on standard pricing models that are applicable to securities of large-capitalization companies. Furthermore, the risk of bankruptcy or insolvency of many smaller companies (with the attendant losses to investors) may be higher than for larger, “blue-chip” companies. Finally, due to thin trading in the securities of some micro- and small-capitalization companies, an investment in those companies may be illiquid.

As described in Item 4.A, the Multi-Strategy General Partner serves as the general partner of the Domestic Multi-Strategy Feeder Fund and the STF General Partner serves as the general partner of each of the STF Funds. In this capacity, the Fund General Partners are deemed to be registered as investment advisers through their inclusion on this Form ADV, and any persons acting on behalf of the Fund General Partners are subject to the Advisers Act and Jain Global’s compliance program. Jain Global has retained the Relying Advisers (as described in Item 4.A) to provide sub-advisory services to the Funds. Each Relying Adviser is registered as an investment adviser with the SEC, in addition to holding the non-U.S. regulatory licenses identified in Item 4.A. Jain Global’s relationships with the Fund General Partners and the Relying Advisers do not create any material conflict of interest with clients. D.

Material Conflicts of Interest Relating to Other Investment Advisers

Jain Global does not receive any compensation, directly or indirectly, from other investment advisers, nor does Jain Global have any other business relationships with other investment advisers that create a material conflict of interest with clients.

Clients may request a copy of the Code by contacting Jain Global at the address or telephone number listed on the first page of this Brochure. For the purposes of the Code and the disclosures contained in Items 10.A and 10.C herein, “employee” includes (i) all of Jain Global’s employees, (ii) all of Jain Global’s members, partners, directors, or officers (including any individual with a similar status, or performing similar functions, at Jain Global), (iii) any other person that the Chief Compliance Officer (the “CCO”) deems to be subject to Jain Global’s supervision and control who provides investment advice on behalf of Jain Global (or any employee of such person) and (iv) any other persons that the CCO deems to be subject to the Code. B.

Securities in which Jain Global or a Related Person Has a Material Financial Interest

Jain Global may from time to time transfer a Financial Instrument from one client to another (each such transfer, a “Cross Trade”). If Jain Global decides to engage in a Cross Trade, then Jain Global may, but will not be required to, obtain the consent of the relevant client, using the method prescribed in the Offering Documents, and conclude that the trade is in the best interests of both clients involved. Jain Global manages two master-feeder fund structures and generally does not expect to transfer Financial Instruments from one client to another in such a structure. To the extent that Cross Trades may be viewed as principal transactions (as such term is used under the Advisers Act) due to the ownership interest in an Other Account (as defined below) by Jain Global, the Fund General Partners or Management Group Personnel, Jain Global will comply with the requirements of Section 206(3) of the Advisers Act. Consent from each Fund involved in the transaction (obtained in the manner specified in the Offering Documents) will be obtained, which approval may be granted prior to or contemporaneous with their consummation (which means prior to settlement). In no event will any such transaction be entered into unless it complies with applicable law and is subject to the consents required under the Offering Documents. Jain Global may, from time to time, cause certain Funds to purchase or sell Financial Instruments from or to Management Group Entities or other clients besides the Funds (“Other Accounts”), including Other Accounts in which Management Group Entities hold a significant interest (Jain Global does not currently advise any Other Accounts). In addition, Jain Global may cause the Funds to, from time to time, purchase or sell Financial Instruments with and through Management Group Entities or Other Accounts in which Management Group Entities hold a significant interest. In addition, in the ordinary course of their

investment activities, the Funds may also borrow, pledge, lend and otherwise finance various Financial Instruments with and among Management Group Entities and Other Accounts in which Management Group Entities hold a significant interest, on both a secured and unsecured basis. Any such transactions will be made in compliance with the requirements of Section 206(3) of the Advisers Act and subject to the provisions set forth in applicable Offering Documents. C.

Investing in Securities that Jain Global or a Related Person Recommends to Clients

The Code places restrictions on personal trades by employees, including that they disclose their personal securities holdings and transactions to Jain Global on a periodic basis, and requires that employees preclear certain types of personal securities transactions. Generally, and subject to certain exceptions, Jain Global’s employees may not engage in personal securities trading in certain types of instruments enumerated in the Code. Jain Global, its affiliates and its employees may give advice or take action for their own accounts that may differ from, conflict with, or be adverse to, advice given or action taken for clients. These activities may adversely affect the prices and availability of other securities or instruments held by or potentially considered for one or more clients. Potential conflicts also may arise due to the fact that Jain Global and its employees may have investments in some Funds but not in others or may have different levels of investment in the various Funds. Jain Global has established policies and procedures to address conflicts of interest with respect to investment opportunities in a manner it deems fair and equitable, including the restrictions placed on personal trading in the Code, as described above, and regular monitoring of employee transactions for conflicts of interest, including regarding personal trades in the same securities or related securities as those held by clients. D.

Conflicts of Interest Created by Contemporaneous Trading

It is Jain Global’s policy to allocate investment opportunities to the Funds in a manner that it reasonably believes is fair and equitable over time to the Funds, to the extent practicable and in accordance with each Fund’s applicable investment strategies. Investment opportunities will generally be allocated among those Funds for which participation in the respective opportunity is considered appropriate, taking into account, among other considerations: investment objective and strategy, including the projected return impact of financing or “cost of capital” charges on particular trades, risk guidelines, working capital, unencumbered cash, intra-month changes to capacity, leverage, investor base, tax, legal, regulatory, contractual and liquidity considerations, and the established counterparty relationships of such Funds, which considerations may be considered individually or in combination with other considerations. However, from time to time, Jain Global may determine, based on the foregoing and other considerations, that certain investments or investment strategies (or the Internal Investment Team or other personnel that manage such investment strategies) should be allocated to some Funds rather than other Funds or that certain Funds should be given a larger allocation or priority access thereto. Further, Jain Global may determine not to pursue, or to cease pursuing, certain investment opportunities or strategies on behalf of a Fund if such opportunities or strategies may have an adverse impact on one or more other Funds. Jain Global may have an incentive to cause investments to be made, managed or realized, or to allocate investment strategies in a manner designed, to advance the interests of one Fund. Jain Global will have no obligation to purchase or sell a Financial Instrument for, enter into a transaction on behalf of, or provide an investment opportunity to, a Fund solely because Jain Global purchases or sells the same Financial Instrument for, enters into a transaction on behalf of, or provides an opportunity to, another Fund if, in its reasonable opinion, such Financial Instrument, transaction or investment opportunity does not appear to be suitable, practicable or desirable for a Fund.

In particular, when Jain Global is ramping up the investment strategies it will employ on behalf of a Fund, such Fund may receive larger allocations of certain Financial Instruments than other Funds (accordingly, such other Funds will received reduced or no allocations of such Financial Instruments) in order to obtain the desired risk and portfolio size of the Fund being ramped up.

Brokers and dealers may provide other services that are beneficial to Jain Global and/or certain clients, but not beneficial to all clients. Subject to best execution, in selecting brokers and dealers (including prime brokers) to execute transactions, provide financing and securities on loan, hold cash and short balances and provide other services, Jain Global may consider, among other things, the ability of the brokers and dealers to effect the transaction based on several factors, including the nature and type of the particular trades undertaken and by the particular jurisdiction in which the trade is made. Accordingly, the commission rates (or dealer markups and markdowns) charged to the Funds by brokers or dealers may be higher than those charged by other brokers or dealers. Jain Global is not required to solicit competitive bids and does not have an obligation to seek the lowest available commission cost or spread. 1.

Research and Other Soft Dollar Benefits

From time to time, Jain Global may pay a broker-dealer commissions (or markups or markdowns with respect to certain types of riskless principal transaction) for effecting Fund transactions in excess of that which another broker-dealer might have charged for effecting the transaction in recognition of the value of the brokerage and research services provided by the broker-dealer. Services that may be provided to Jain Global by such broker-dealers may include research, general market commentary, economic information, trading advice, industry and issuer commentary, technical data, investment recommendations, industry, issuer or other reports, quotations and other market data and the arrangement of meetings with issuer management. Jain Global will effect such transactions, and receive such brokerage and research services, only to the extent that they fall within the safe harbor provided by Section 28(e) of the Exchange Act (“Section 28(e)”), and subject to prevailing guidance provided by the SEC regarding Section 28(e). Also, consistent with Section 28(e), research products or services obtained with “soft dollars” generated by one or more Funds may be used by Jain Global to service one or more other clients, including clients that may not have paid for the soft dollar benefits. Jain Global does not seek to allocate soft dollar benefits to client accounts in proportion to the soft dollar credits that each client account generates. Where a product or service obtained with soft dollars provides both research and non-research assistance to Jain Global (i.e., a “mixed use” item), Jain Global will determine the cost to be paid for with soft dollars. In making such determinations, a conflict of interest may exist by reason of Jain Global’s allocation of the costs of such benefits and services between those that primarily benefit Jain Global and those that primarily benefit the Funds. In using client brokerage commissions (or markups or markdowns) to obtain research or other products or services, Jain Global receives a benefit because it does not have to produce or pay for such products or services. Jain Global may have an incentive to select or recommend a broker-dealer based on Jain Global’s interest in receiving research or other products or services, rather than on its clients’ interest in receiving most favorable execution.

At least annually, Jain Global considers the amount and nature of research and research services provided by broker-dealers, as well as the extent to which such services are relied upon. A broker-dealer is not excluded from receiving business because it has not been identified as providing research products or services. Jain Global is a new registrant and has not utilized soft dollars during its last fiscal year. 2.

Brokerage for Client Referrals

Neither Jain Global nor any related person receives client referrals from any broker-dealer or third party. However, as discussed above, subject to best execution, Jain Global may consider, among other things, capital introduction and marketing assistance with respect to investors in the Funds in selecting or recommending broker-dealers for the Funds. 3.

Directed Brokerage

Jain Global does not recommend, request or require that a client direct Jain Global to execute transactions through a specified broker-dealer, and in general, Jain Global does not permit this practice. B.

Purchase and Sale of Securities for Client Accounts 1.

Order Aggregation

Jain Global manages two master-feeder fund structures and will generally only execute trades or make investments on behalf of the Multi-Strategy Master Fund and STF Master Fund. If Jain Global determines that the purchase or sale of a Financial Instrument is appropriate with regard to multiple Funds, Jain Global may, but is not obligated to, purchase or sell such a Financial Instrument on behalf of such Funds with an aggregated order, for the purpose of reducing transaction costs, to the extent permitted by applicable law. When an aggregated order is filled through multiple trades at different prices on the same day, each participating Fund will receive the average price, with transaction costs generally allocated pro rata based on the size of each Fund’s participation in the order (or allocation in the event of a partial fill) as determined by Jain Global. In the event of a partial fill, allocations may be modified on a basis that Jain Global deems to be appropriate, including, for example, in order to avoid odd lots or de minimis allocations. When orders are not aggregated, trades generally will be processed in the order that they are placed with the broker or counterparty selected by Jain Global. As a result, certain trades in the same Financial Instrument for one Fund (including a client in which Jain Global and/or any Management Group Personnel may have a direct or indirect interest) may receive more or less favorable prices or terms than another Fund, and orders placed later may not be filled entirely or at all, based upon the prevailing market prices at the time of the order or trade. In addition, some opportunities for reduced transaction costs and economies of scale may not be achieved. 2.

Trade Errors

While Jain Global will seek to take certain precautions to reduce the risk of the clients experiencing errors with respect to trades made on their behalf (each, a “Trade Error”), given the anticipated volume and frequency of trades for the clients, Trade Errors will occur. Trade Errors can include, for example, (i) the execution of orders (either purchases or sales) in excess of, or less than, the amount of Financial Instruments the account intended to trade; (ii) the sale of a Financial Instrument when it should have been purchased; (iii) the purchase of a Financial Instrument when it should have been sold; or (iv) the purchase or sale of the wrong Financial Instrument. Consistent with each client’s Offering Documents, Jain Global, its affiliates, Investment Teams and Management Group Personnel will generally not be liable to the clients for any act or omission, absent Disabling Conduct (as such term is defined in the Offering Documents) of such persons. Clients, as applicable, will generally be required to indemnify such persons against any losses they incur by reason of any act or omission related to the clients, as applicable, absent Disabling Conduct

of such persons. As a result of these provisions, the clients (and not Jain Global) will benefit from any gains resulting from Trade Errors and similar human errors and will be responsible for any losses (including additional trading costs) resulting from Trade Errors and similar human errors, absent Disabling Conduct on the part of the relevant person. In addition, because Jain Global determines whether any Trade Error and similar human errors constituted or resulted from Disabling Conduct, any such determination presents an inherent conflict of interest.

Jain Global generally provides annual audited financial statements to investors in the Funds within ninety (90) days of the applicable Fund’s fiscal year-end or as soon as reasonably practicable thereafter, to the extent permitted by applicable law. In addition to the audited financial statements, Jain Global will provide reports to investors in the Funds on a periodic basis, which Jain Global will communicate to such investors from time to time.

Jain Global and the Fund General Partners are not be required to comply (or are deemed to have complied) with certain requirements of the Custody Rule with respect to each Fund because they comply with the provisions of the so-called “Pooled Vehicle Annual Audit Exception”, which, among other things, requires that each Fund be subject to annual audit by an independent public accountant that is registered with, and subject to regular inspection by, the Public Company Accounting Oversight Board, and requires that each Fund distribute its audited financial statements to all investors within one hundred twenty (120) days of the end of its fiscal year.

If Jain Global determines that it may have, or be perceived to have, a conflict of interest when voting Proxies, Jain Global will vote in accordance with its Proxy Voting Policy, which addresses such conflicts. Clients may obtain a copy of Jain Global’s Proxy Voting Policy and Proxy voting records by contacting Jain Global at the address or telephone number listed on the first page of this Brochure.