Vendera Management Holdings, LLC

Vendera Management Holdings, LLC is an investment advisory firm established in October 2014, specializing in providing discretionary advisory services to affiliated private funds focused on direct investments in oil and gas assets in the Lower 48 United States. The firm's managing member is BFW Company, with A. Wood Brookshire as the principal owner. Vendera's services include investigating, evaluating, and managing investments on behalf of the funds, subject to specific investment objectives and restrictions outlined in each fund's governing documents. The firm typically charges a management fee of 2% of total Capital Commitments or Capital Called, varying based on fund size and negotiated terms. Vendera may also receive a carried interest or performance-based allocation from the funds. The funds are offered exclusively to accredited investors and qualified purchasers, with a minimum commitment outlined in the governing documents. Vendera does not engage in principal transactions and does not receive compensation for client referrals. Vendera has a Code of Ethics to address conflicts of interest, and the firm reviews each fund at least annually to ensure compliance. The firm has custody of client funds and securities, relying on an exception from the SEC custody rule for pooled investment vehicles. Vendera exercises investment discretion on behalf of the funds, with the General Partner making investment decisions without specific consent from the funds or investors. The General Partner also votes proxies on behalf of the funds, aiming to maximize shareholder value while avoiding conflicts of interest.