HOME FOR INVESTORS CONTACT Privacy Policy 1. INTRODUCTION Monarch Alternative Capital LP, 535 Madison Avenue, New York, NY 10022 and Monarch Alternative Capital (Europe) Ltd, 50-52 Welbeck Street, 1st Floor, London W1G 9HL, directly or indirectly, act as investment adviser or agent to the fund(s) or other vehicles in which you invest (the “Funds”). Monarch Alternative Capital LP, Monarch Alternative Capital (Europe) Ltd and the Funds (“we,” “our,” “us”) each take your privacy seriously. The following Privacy Notice (“Privacy Notice”) explains how we collect, use, disclose, and protect personal data (as defined below) we process through your interactions with us, including your interactions with our website. This Privacy Notice contains information on our use of your personal data in accordance with relevant laws and regulations, including, where applicable, the UK GDPR (as defined in the Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2019/419)), the UK Data Protection Act 2018, the Cayman Islands Data Protection Law, 2017 (“DPL”) and the California Consumer Privacy Act (“CCPA”). The rights discussed in certain sections of this Privacy Notice may be subject to exemptions or other limitations under applicable law. Depending on where you/the investor(s) with which you are associated are located and how you interact with our Group, different sections of this Privacy Notice may apply specifically to you. Please review this Privacy Notice carefully to understand what we do in regards to your personal data, and where applicable, the following sections: For investors who have further rights under the UK GDPR and the UK Data Protection Act 2018, see the below Section 10 for a description of your rights and other information related to the UK GDPR and Data Protection Act 2018. For our investors who are, or are associated with, investors in our Funds based in the Cayman Islands (the “Cayman Funds”), see the below Section 11 for a description of your additional rights and other information related to the DPL. If you are California residents and subject to the CCPA, see the below Section 12 for a description of your rights with regard to your personal information (as defined by the CCPA) and other information related to the CCPA. 2. COLLECTION OF PERSONAL DATA We may collect nonpublic personal information and other personal information about you, including information that can help us directly or indirectly identify you (“personal data”). For purposes of California residents only, pursuant to the CCPA, personal information includes information that identifies, relates to, describes, is reasonably capable of being associated with, or could reasonably be linked, directly or indirectly, with a California resident or a household. “Personal data,” for purposes of this Privacy Notice, includes personal information as defined under the CCPA with regard to California residents. We may collect all or some of the following categories of personal data from or about you: identifiers and similar information such as, name, address, date of birth, email address, social security number, driver’s license number, passport number, online identifiers or other similar identifiers; certain information protected under federal or state laws such as a signature, social security number, driver’s license, passport number, state identification card number or bank account or other financial information; characteristics of protected classifications under federal or state laws, including gender, age, national origin, citizenship status or marital status; commercial information, including records of products or services purchased, obtained, or considered, or other purchasing histories or tendencies, including funds in which you are invested, investments considered, or sources of wealth; internet or other electronic network activity information, including interactions with our website or use of certain online tools; audio, electronic, visual or similar information; professional or employment-related information, including occupation, compensation, employer, and title; and inferences drawn from any of the information identified above to create a profile reflecting your preferences or similar information, including your potential interest in investing in new funds. 3. SOURCES OF PERSONAL DATA We may collect personal data about you directly from you and/or your intermediaries through sources such as: Subscription Agreements and other forms or related documents; written, electronic, or verbal correspondence and conversations with us or our representatives, consultants, placement agents, and administrator; our website (including certain technical information); investor transactions; and/or an investor’s brokerage or financial advisory firm, financial advisor, or consultant. In addition, we may collect personal data from different sources, such as: our affiliates, our service providers, or our affiliates’ service providers; public websites or other publicly accessible directories and sources, including bankruptcy registers, tax authorities, governmental agencies and departments, and regulatory authorities; and/or from credit reporting agencies, sanctions screening databases, or from sources designed to detect and prevent fraud. The relevant source may be responsible for obtaining the relevant consents from you (where applicable) to ensure you are happy with the ways in which your personal data will be used. We may combine this information with information you give to us (“combined information”). We may use this information and the combined information for the purposes set out below in Section 4, “Why We Collect, Use, and Process Personal Data” (depending on the types of information we receive). 4. WHY WE COLLECT, USE, AND PROCESS PERSONAL DATA We may collect, use or process personal data for any of the following business or commercial purposes: performing services on behalf of a fund, including fulfilling your requests, maintaining or servicing accounts, providing investor relations services, processing subscriptions, withdrawals and redemptions (as applicable), verifying information, processing payments, or providing similar services; communicating with you; performing our contractual and regulatory obligations to a subscriber to a fund, including providing updates on a fund’s performance, providing tax reporting and other operational matters; detecting security incidents and protecting against malicious, deceptive, fraudulent, or illegal activity, including preventing fraud and conducting “Know Your Client,” anti-money laundering, terrorist financing, and conflict checks; enabling or effecting commercial transactions; where permitted by applicable law, providing you with marketing or promotional materials; where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests; administering and improving our website; and internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes. 5. DISCLOSURE OF PERSONAL DATA We do not disclose personal data about you, except to: our subsidiaries and affiliates; our subsidiaries’ and affiliates’ attorneys, auditors, counterparties, investors, intermediaries, brokers, other financial institutions or service providers, in each case only as necessary to facilitate the acceptance and management of your investment and/or for operational and/or administrative purposes; judicial courts, regulators, or other government agents purporting to have jurisdiction over us, our subsidiaries or affiliates, including in connection with any government or self-regulatory organization request or investigation, or to parties in litigation; tax authorities in the relevant jurisdictions as requested by such authority or as required by applicable laws and regulations of such jurisdictions; with your consent or at your direction; to the extent reasonably necessary to prevent fraud, unauthorized transactions or liability; and as may otherwise be permitted by law. In the event we seek to buy or sell any business or assets, we may release information about you to the prospective buyer or seller and if we or substantially all of our assets are acquired by a third party your personal data will be one of the transferred assets. We ask all of the third parties to whom we send your personal data to treat it securely and in accordance with this Privacy Notice, and will take reasonable steps to enforce this. 6. RIGHTS REGARDING LIMITED SHARING AND OTHER MARKETING PRACTICES Where you have provided your consent or we otherwise have the right to do so, we may share nonpublic personal information with affiliated funds to market to you. Federal law gives you the right to limit some but not all marketing from our affiliates. To limit sharing of nonpublic personal information to our affiliates to market to you, please contact us via the details set out in Section 14 below. If you contact us by email, please state in the subject line “Do Not Share Marketing Information with Affiliates” and include the statement “Do not share my nonpublic personal information with your affiliates to market their products or services to me.” 7. OUR WEBSITE’S USE OF COOKIES AND SIMILAR TECHNOLOGIES Our website also uses cookies for various purposes, including to distinguish you from other users of our website and collect certain information about your interactions with our website. For detailed information on the cookies we use and the purposes for which we use them see our Cookie Policy. Some web browsers may transmit “do not track” (“DNT”) signals. We currently do not respond to DNT settings in your web browser. 8. SECURITY AND RETENTION OF PERSONAL DATA We will take reasonable steps to use technical, administrative and physical security measures appropriate to the nature of the information and that comply with applicable laws to protect personal data against unauthorized access and exfiltration, acquisition, theft, or disclosure. We generally restrict access to personal data to those employees and agents who have been informed as to the proper handling of such information and who need to know such data to provide services to clients. Given the nature of information security, there is no guarantee that such measures will always be successful. How long we keep your personal data will vary depending on the type of personal data and our reasons for collecting it. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and our legal obligations (as laws or regulations may set a minimum period for which we have to keep your personal data). In general, we will retain your personal data for as long as we require it to perform our contractual rights and obligations or for periods required by our legal and regulatory obligations. 9. ADMINISTRATOR The Fund’s administrator (the “Administrator”), or, during any period in which an Administrator has not been appointed, the General Partner, may be engaged in controlling and/or processing personal data for the purposes of one ore more of the UK GDPR, the EU General Data Protection Regulation (2016/679) (“GDPR”) and the DPL. The Administrator (or the General Partner, as applicable) receives personal data from individuals investing in the Fund and officers and employees of corporate and other institutional investors in the Fund. The Fund has therefore appointed the Administrator (or the General Partner, as applicable) as a “processor” of personal data on its behalf. In some circumstances, the Administrator (or the General Partner, as applicable) may use the personal data it receives from the Fund for purposes other than the provision of services to the Fund, including but not limited to the completion of due diligence on investors. In such circumstances, the Administrator (or the General Partner, as applicable) is acting as a “controller” of personal data received from the Fund, as it determines the purposes and means of processing the personal data. 10. ADDITIONAL INFORMATION FOR DATA SUBJECTS TO WHOM UK DATA PROTECTION LAWS APPLY The UK GDPR imposes certain obligations on the relevant Monarch entity, as a data controller, and grants certain rights to relevant individuals (“data subject,” “you” or “your”). “Personal data” and other terms as used in this section have the same meaning provided in the UK GDPR. Additional Rights Applicable to Certain Data Subjects Under the UK GDPR and certain other applicable UK data privacy laws, data subjects have a right to: request access to and rectification of your personal data; personal data that we hold where it is incomplete or inaccurate; restrict the processing of your personal data in certain circumstances; object to the processing of your personal data in certain circumstances, including where we process personal data for direct marketing purposes or where we have processed such data on the basis of our legitimate interests; request that we erase your personal data under certain circumstances; ask for a copy of your personal data to be provided to you, or to a third party, in a digital form; withdraw your consent to the processing of your personal data (where applicable); and lodge a complaint about the processing of your personal data with the Information Commissioner’s Office in the United Kingdom. How to Exercise Your Rights Under the UK GDPR If you wish to exercise any of your rights under UK data protection laws, you should contact us at ir@monarchlp.com and include “UK GDPR Rights Request” as the subject of your communication. Transfers of Personal Data Outside the UK Personal data that we obtain from you may be transferred to, and stored at, a destination outside of the UK, which will be accessible by employees and other persons working on our behalf, located outside of the UK, including to certain service providers (including but not limited to technical service providers and electronic data storage providers) who may process the information you give us. We will take all steps reasonably necessary to ensure that your information is treated securely and in accordance with this Privacy Notice and the UK GDPR. Depending on where the data subject is resident, this may mean that we will only generally transfer your information to third parties (a) that are in countries that have been confirmed by the UK Government, as applicable, to provide an adequate level of protection to personal data; or (b) to whom the transfer of such information is made pursuant to a contract that is compliant with the model contracts for the transfer of personal data to third countries from time to time approved by the UK Government (including, until alternative model clauses are approved by the UK Government, the European Commission model clauses). You can request more information on specific mechanisms which we may use when transferring personal data outside the UK and the countries to which such transfer may be made (which may include, but are not limited to, the United States and the Cayman Islands) by using the contact information in Section 14 below. Monarch Alternative Capital (Europe) Ltd has notified the Information Commissioner’s Office of its activities as controller in accordance with the Data Protection Laws (Registration No. ZA084739). This notification can be viewed at ico.org.uk. 11. ADDITIONAL RIGHTS AND DISCLOSURES RELATING TO INVESTORS IN THE CAYMAN FUNDS For the purposes of the DPL, we are a data controller of personal data of individuals who are, or who are associated with, investors in our Cayman Funds (“you” or “your”) and such individuals’ personal data are processed for the purposes set out in this notice. “Personal data” and other terms as used in this section have the same meaning provided in the DPL. Additional Rights of Data Subjects Who Are, or Who Are Associated with, Investors in Our Cayman Funds Under the DPL, investors in our Cayman Funds who are individuals, wherever you are located, have certain rights under the DPL in relation to your personal data. These include the right to: be informed about the purposes for which your personal data are processed; access your personal data; stop direct marketing; restrict the processing of your personal data; have incomplete or inaccurate personal data corrected; ask us to stop processing your personal data; be informed of a personal data breach (unless the breach is unlikely to be prejudicial to you); complain to the Cayman Islands Data Protection Ombudsman (by emailing info@ombudsman.ky with the completed form found at www.ombudsman.ky/data-protection); and require us to delete your personal data in some limited circumstances. How to Exercise Your Rights Under the DPL If you wish to exercise any of these rights as a DPL investor you should contact us at ir@monarchlp.com and include “DPL Rights Request” as the subject of your communication. Transfers of Personal Data Outside the Cayman Islands Personal data that we obtain from you may be transferred to, and stored at, a destination outside of the Cayman Islands, which will be accessible by employees and other persons working on our behalf, located outside of the Cayman Islands, including to certain service providers (including but not limited to technical service providers and electronic data storage providers) who may process the information you give us. We will take all steps reasonably necessary to ensure that your information is treated securely and in accordance with this Privacy Notice and the DPL. Depending on where the investor is resident, this may mean that we will only generally transfer your personal data to entities (a) that are in countries that have been confirmed by the Cayman Islands Ombudsman (i.e., the Cayman Islands data protection authority), as applicable, to provide an adequate level of protection to personal data; (b) to whom the transfer of such information is made pursuant to a contract that is compliant with the model contracts for the transfer of personal data to third countries from time to time approved by the UK Government, the European Commission or the Cayman Islands Ombudsman; or (c) based on a valid basis for such a transfer under the DPL. You can request more information on specific mechanisms which we may use when transferring personal data outside the Cayman Islands and the countries to which such transfer may be made (which may include, but are not limited to, the United States, the UK and countries in the EEA) by using the contact information in Section 14 below. 12. ADDITIONAL INFORMATION FOR CALIFORNIA RESIDENTS The CCPA imposes certain obligations on us and grants certain rights to California residents (“California Resident,” “you” or “your”) with regard to “personal information.” If you are a California Resident, please review the following information about our privacy practices surrounding how and why we collect, use, disclose and share your personal information and your potential rights with regard to your personal information under the CCPA. The rights described in this section are subject to exemptions and other limitations under applicable law. Terms used in this section have the meaning ascribed to them in the CCPA. We are a “business.” “Personal information” as used in this section has the same meaning as in the CCPA. It does not include deidentified information, aggregate consumer information or publicly available information, as those terms are defined in the CCPA. Notice at Collection and Use of Personal Information Information We Collect Depending on how you interact with us, we may collect the categories of personal information listed above in Section 2, “Collection of Personal Data.” How We Use Collected Information We may use your personal information for the business or commercial purposes listed above in Section 4, “Why We Collect, Use, and Process Personal Data. Our Collection, Use, Disclosure, and Sharing of Personal Information What Information We Have Collected, the Sources from Which We Collected It, and Our Purpose for Collecting the Information In the preceding 12 months, depending on how you interact with us, we may have collected the categories of personal information listed above in Section 2, “Collection of Personal Data.” We may collect personal information from all or some of the categories of sources listed in Section 3, “Sources of Personal Data.” We may collect all or a few of these categories of personal information for the business or commercial purposes identified in Section 4, “Why We Collect, Use, and Process Personal Data.” Our Disclosure and Sharing of Personal Information We do not sell your personal information. We do not knowingly sell the personal information of minors under 16 years old. In the preceding 12 months, we may have disclosed for a business purpose the following categories of personal information to the following categories of third parties, as described in the chart and paragraph below. Category of Personal Information Category of Third Party Identifiers such as your, name, address and online identifiers Investors, counterparties, and intermediaries in connection with investments and transactions or for operational purposes Tax authorities in relevant jurisdictions Entities reasonably necessary to prevent fraud, unauthorized transactions or liability Third parties as needed to complete a transaction, including financial institutions or lenders to or creditors of a fund Certain information described in Cal. Civ. Code § 1798.80(e) such as signature or bank account information Third parties as needed to complete a transaction, including financial institutions or lenders to or creditors of a fund Commercial information such as records of products or services purchased Investors, counterparties, and intermediaries in connection with investments and transactions or for operational purposes Tax authorities in relevant jurisdictions Entities reasonably necessary to prevent fraud, unauthorized transactions or liability Third parties as needed to complete a transaction, including financial institutions or lenders to or creditors of a fund Professional or Employment-Related Information Investors, counterparties, and intermediaries in connection with investments and transactions or for operational purposes Entities reasonably necessary to prevent fraud, unauthorized transactions or liability Third parties as needed to complete a transaction, including financial institutions or lenders to or creditors of a fun In addition, in the preceding 12 months, we may have disclosed for a business purpose all of the categories of personal information identified in Section 2 above, to the following categories of third parties: (i) judicial courts, regulators, or other government agents purporting to have jurisdiction over us, our subsidiaries or our affiliates, or opposing counsel and parties to litigation; and (ii) other third parties as may otherwise be permitted by law. We may also share your personal information with our subsidiaries and affiliates, our service providers, including our information technology and email providers, fund administrator and consultants, other entities that have agreed to limitations on the use of your personal information, or entities that fit within other exemptions or exceptions in or as otherwise permitted by the CCPA. California Residents’ Rights under the CCPA If your personal information is subject to the CCPA, you may have certain rights concerning that information, subject to applicable exemptions and limitations, including the right to: be informed, at or before the point of collection, of the categories of personal information to be collected and the purposes for which the categories of personal information shall be used; not be discriminated against because you exercise any of your rights under the CCPA; request that we delete any personal information about you that we collected, subject to certain exceptions (“Request to Delete”); opt-out of the “sale” (as that term is defined in the CCPA) of your personal information if a business sells your personal information (we do not); and request that we, as a business that collects personal information about you and that discloses your personal information for a business purpose, disclose to you (“Request to Know”): the categories of personal information we have collected about you; the categories of sources from which we have collected the personal information; the business or commercial purpose for collecting the personal information; the categories of third parties to whom we disclosed personal information about you for a business purpose; the specific pieces of personal information we have collected about you; and the categories of personal information we have disclosed about you for a business purpose. The CCPA does not restrict our ability to do certain things like comply with other laws or comply with regulatory investigations. In addition, the CCPA does not apply to certain information like personal information collected, processed, sold or disclosed pursuant to the federal Gramm-Leach-Bliley Act and its implementing regulations. We also reserve the right to retain, and not to delete, certain personal information after receipt of a Request to Delete from you where permitted by the CCPA or another law or regulation. How to Submit a Request under the CCPA You may submit a “Request to Know,” as described above, through the following telephone number (212) 554-1700 or through our website at the following link www.monarchlp.com/contact. You may submit a “Request to Delete” either by emailing ir@monarchlp.com with “CCPA Right to Delete Request” in the subject line or by calling (212) 554-1700. We are required to provide certain information or to delete personal information only in response to verifiable requests made by you or your authorized agent. When you submit a Request to Know or Request to Delete, we may ask that you provide clarifying or identifying information to verify your request. Such information may include, at a minimum, depending on the sensitivity of the information you are requesting and the type of request you are making, your name, the exact legal name of the investor subscribing to our funds and which fund, and email address. Any information gathered as part of the verification process will be used for verification purposes only. You are permitted to designate an authorized agent to submit a Request to Know or a Request to Delete on your behalf and have that authorized agent submit the request through the aforementioned methods. In order to be able to act, authorized agents have to submit written proof that they are authorized to act on your behalf, or have a power of attorney. We may deny requests from authorized agents who do not submit proof that they have been authorized by you to act on your behalf. We may also require that you directly verify your own identity with us and directly confirm with us that you provided the authorized agent permission to submit the request. 13. CHANGES TO THIS PRIVACY NOTICE We may update this Privacy Notice from time-to-time at our sole discretion. If you do not agree to any changes we make to this Privacy Notice, you must not continue to use our services. 14. CONTACT Questions, comments and requests regarding this Privacy Notice are welcomed and should be addressed to ir@monarchlp.com or call (212) 554-1700. LAST UPDATED: January 2021 © 2021 MONARCH ALTERNATIVE CAPITAL LP | PRIVACY | SFDR STATEMENT NEW YORK 535 MADISON AVENUE NEW YORK, NY 10022 T. 212.554.1700 F. 212.554.1701 LONDON 50-52 WELBECK STREET, 1ST FLOOR LONDON W1G 9HL UNITED KINGDOM T. +44 20 7374 7940