GLADSTONE CAPITAL MANAGEMENT LLP

Gladstone Capital Management LLP (“Gladstone”) is a London based limited liability partnership incorporated under the laws of England and Wales on 9 June 2005. The Firm is principally owned by George Michelakis and is authorized by the Financial Conduct Authority (“FCA”) in the United Kingdom. The Firm provides discretionary management to pooled investment vehicles (herein referred to as the “Funds”) and segregated accounts (herein referred to as the “Accounts” and, together with the Funds, the “Advisory Clients”) as outlined in Item 7. Gladstone does not provide any non-discretionary services. Gladstone does not tailor its advisory services to the individual needs of investors in the Funds (“Fund Investors”) and does not accept Fund Investors imposed investment restrictions.

The investment objective of the Funds is to maximize risk-adjusted absolute returns while preserving capital. The Master Fund targets excess returns over a blended benchmark of 50% MCSI World (Local) and 50% MSCI World (Local) in both the long and short investments, generating returns via the outperformance of the long investments versus the short investments. The Funds seek to achieve its objective by investing all investable assets in the Master Fund. The Master Fund seeks to achieve its objective by investing primarily in listed equity securities in Europe, the US, Australia, South Africa as well as other developed markets. Investments are focused around five sectors: Consumer; Technology Media Telecoms (TMT); Financials; Healthcare, and Industrials. The Master Fund may utilize such investment techniques as option transactions, margin transactions, short sales, leverage, derivatives.

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