Clearlist Capital LLC

Item 7: Types of Clients

ClearList Capital provides investment advisory services to private investment funds only, and references
throughout this Brochure to “Clients” and to the Adviser’s related duties to and practices on behalf of its
clients and/or investors should be construed accordingly. Please see Item 4 – Advisory Business above.

The Adviser’s Clients are private investment funds or other pooled investment vehicles formed under
domestic laws and operated as investment pools that are excluded from the definition of an investment
company under the Investment Company Act of 1940, as amended (the “Company Act”). The Adviser does
not provide advice to “retail investors” as defined by Rule 204-5(d)(2) under the Advisers Act. Subject to certain
qualifications, investors generally include individual investors, institutional investors, and other sophisticated
investors; however, Client investors are not clients of the Adviser by virtue of their investment in a Client.
Each Client’s Offering Documents generally impose a minimum investment amount per investor; however,
the Adviser may waive this minimum in their sole discretion.

Interests in the Clients at this time have been offered on a private placement basis, in reliance on Section
3(c)(7) of the Company Act, to persons who generally are “qualified purchasers” and “accredited investors”
as defined under the Securities Act of 1933, as amended (the “Securities Act”), or “knowledgeable employees”
as defined under the Company Act, and who are subject to certain other conditions, which are fully set forth
in the Offering Documents of each Client. Interests in Clients may be offered to persons who are not “U.S.
Persons,” as defined under Regulation S of the Securities Act, or who are tax-exempt U.S. Persons (or entities
substantially comprised of tax-exempt U.S. Persons) and who are subject to certain other conditions, which
are also set forth in each Client’s Offering Documents.