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Aperture Investors, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”), a Commodity Pool Operator registered with the Commodity Futures Trading Commission (“CFTC”) and a member of the National Futures Association (“NFA”). Aperture Investors, LLC which wholly owns Aperture Investors UK, Ltd (FRN: 846073) who is authorised and regulated by the Financial Conduct Authority (“FCA”). In providing investment management services to certain of the Funds, Aperture Investors, LLC draws upon the portfolio management, trading, research, operational and administrative resources of certain of its affiliates (at the present, Aperture UK), including using affiliates to execute transactions for certain Funds. Subject to the written consent of the applicable Fund and the regulatory status of the affiliate, Aperture Investors, LLC treats these affiliates as “participating affiliates,” in accordance with applicable SEC no-action letters and guidance. For a more complete understanding of Aperture’s ownership and control, please see our ADV available here: https://adviserinfo.sec.gov/. Being registered as an investment adviser with the SEC and/or as a Commodity Pool Operator with the CFTC does not imply a certain level of skill or training.