Management Change/Compensation (Form 8-K)

Effective June 26, 2026, Brian Douglas, previously the Chief Executive Officer of Graham Capital Management, L.P., the manager (the "Manager") of Graham Alternative Investment Fund II LLC (the "Company"), retired from his role at the Manager. Additionally, effective as of June 26, 2026, the Manager promoted Jason Slutsky, previously the General Counsel of the Manager, to Chief Operating Officer and General Counsel.

Jason Slutsky (age 42) serves as the Chief Operating Officer and General Counsel of the Manager, responsible for the operation of the legal, compliance, technology, trading services, solutions, administration, facilities, and human resources teams. Mr. Slutsky joined the manager in 2018 and became a Principal of Graham effective as of January 17, 2020, and an Associated Person effective as of January 28, 2020. Mr. Slutsky received a J.D. from the University of Pennsylvania with honors in 2009 and a B.S. from Cornell University in 2006.

Mr. Slutsky receives a base salary and is eligible each year for a discretionary bonus and is also eligible for employee benefits that are made generally available to employees of the Manager. He is subject to various obligations during his employment with the Manager and post-termination, including restrictions on the use of the Manager's confidential information and non­ solicitation covenants. Mr. Slutsky does not have an employment agreement or other agreement with the Company.

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