P2 CAPITAL PARTNERS, LLC

P2 Capital Partners, LLC ("P2") is a registered investment adviser with the SEC that manages Private Funds, which are generally organized as Delaware limited partnerships, Cayman Islands exempted limited partnerships and Cayman Islands exempted companies. P2 provides discretionary investment advisory services to these pooled investment vehicles and single-investor funds. An affiliate of P2 serves as the general partner or manager of each domestic Private Fund and Cayman Islands master fund. P2 manages the Private Funds under one main strategy: P2 seeks to generate significant capital appreciation by making strategic equity investments in primarily small capitalization (“small cap”) public and private companies. P2’s strategic equity investment style applies a private equity approach to investing in the public market, pursuing a research intensive, concentrated, value-oriented, long-term, active and management-friendly investment style. As of December 31, 2024, P2 managed approximately $1,260,600,000 on a discretionary basis.

P2 takes a private equity approach to investing in the small cap public market. P2 pursues a research intensive, concentrated, long-term, value-oriented, active and management-friendly investment style. P2 seeks to invest in companies with high business quality, attractive valuations and significant value-added opportunities. P2 manages a concentrated portfolio of significant ownership stakes in small cap companies. Where appropriate, P2 will also lead private equity investments such as going-private leveraged buyouts sourced from the Private Funds’ public portfolio. P2's investment strategy is centered on the acquisition of large ownership stakes in a limited number of companies where P2 is often seeking a long- term investment opportunity. P2's focus is on receiving an optimal blend of size, price and confidentiality rather than focusing solely on price.

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