REDMILE GROUP, LLC

Redmile Group, LLC, a Delaware limited liability company, provides investment management, advisory, and sub-advisory services to investment vehicles exempt from registration under the Investment Company Act of 1940. The firm was founded in March 2007 and is managed by Jeremy Green, the principal owner. The firm's business model involves recommending services from portfolio companies to other portfolio companies, which may result in fees, commissions, servicing payments, and/or discounts to the firm, its affiliates, or a portfolio company. This practice creates a conflict of interest, as the firm has an incentive to maintain goodwill with existing and prospective portfolio companies, even if the recommended products or services are not the best available. The benefits received by the portfolio company providing the service may outweigh those received by the fund and its portfolio companies receiving the service.

The Firm utilizes a fundamental research approach to identify product cycles and investment themes before they become mainstream. This research process involves various avenues, including contacts with physicians, focus outside the United States, dialogue with companies, attendance at medical conferences, meetings with private companies, and regular dialogue within the team. The Firm also maintains proprietary models on a broad range of companies, including current and potential investments. The Firm's investment allocation process considers factors such as a Fund's investment objectives, investment time horizon, and potential cost savings or transactional efficiencies. This process often results in non-pro rata allocation, meaning that not all Funds will participate in every investment opportunity. The Firm makes allocation decisions based on its expectations at the time of investment, but there is no guarantee that an investment will be suitable for another Fund in hindsight.

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