0002030772
2025-01-01
2025-12-31
0002030772
2025-12-31
0002030772
2024-12-31
0002030772
2024-07-16
2024-07-16
0002030772
2024-07-16
2024-12-31
0002030772
2024-01-01
2024-12-31
0002030772
2025-07-01
2025-09-30
0002030772
2024-07-15
0002030772
us-gaap:AssetNotPledgedAsCollateralMember
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2025-12-31
0002030772
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2025-12-31
0002030772
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2025-12-31
0002030772
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2025-12-31
0002030772
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2025-12-31
0002030772
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2025-12-31
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2025-12-31
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2025-12-31
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2025-12-31
0002030772
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2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Energy Infrastructure | Other Investment(s) in Equity | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Transportation Infrastructure | Other Investment(s) in Equity | EMEA
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Transportation Infrastructure | Total Transportation Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Various |Infrastructure Investments L.P. (640,423 Shares) | Various
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Various | Other Investment(s) in Affiliated Investee Funds | Various
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Various | Total Various
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Total Derivatives
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Cash and Cash Equivalents | Cash | Cash Held at Banks
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Total Money Market Fund (Cost: $13,482 Americas)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Cash and Cash Equivalents | Money Market Fund | Fidelity Investments Money Market Treasury | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Cash and Cash Equivalents | Money Market Fund | Dreyfus Government Cash Management | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Total Investments, Investments in Affiliated Investee Funds, Cash and Cash Equivalents and Derivative Instruments (Cost $3,887,211)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Digital Infrastructure | Eucalyptus I HoldCo (CYM) L.P. (1,637,829,051,635 Shares) | APAC
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Digital Infrastructure | Total Digital Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Transportation Infrastructure | Mercury Co-Invest L.P. (783,265 Shares) | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Energy Infrastructure Services | Total Energy Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Digital Infrastructure | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Infrastructure Services | Total Infrastructure Services
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Energy Infrastructure | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Infrastructure Services | Other Investment(s) in Debt | APAC
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Infrastructure Services | Other Investment(s) in Debt | EMEA
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Infrastructure Services | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Technology, Media and Entertainment | Total Technology, Media and Entertainment
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Technology, Media and Entertainment | Other Investment(s) in Debt | APAC
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Technology, Media and Entertainment | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Real Estate | Total Real Estate
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Real Estate | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Infrastructure Services | Total Infrastructure Services
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Cash and Cash Equivalents | Cash | Total Cash (Cost: $51,262)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Total Cash and Cash Equivalents (Cost $64,744)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Derivative at Fair Value | Derivative Assets at Fair Value | Foreign Currency Contracts
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Derivative at Fair Value | Derivative Assets at Fair Value | Total Derivative Assets at Fair Value
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Derivative at Fair Value | Derivative Liabilities at Fair Value | Foreign Currency Contracts
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Derivative at Fair Value | Derivative Liabilities at Fair Value | Total Derivative Liabilities at Fair Value
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Transportation Infrastructure | Hieroglyphs L.P. (220 Shares) | EMEA
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Transportation Infrastructure | Poseidon Holdco I L.P. (500,000 Shares) | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Energy Infrastructure | Total Energy Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Digital Infrastructure | Other Investment(s) in Equity | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Equity Investments | Digital Infrastructure | Odyssey Holdco L.L.C. (811,288 Shares) | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Total Equity Investments (Cost: Americas $1,349,855, EMEA $219,658, APAC $297,475, Various $802,546)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Industrials | Total Industrials
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Technology, Media and Entertainment | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Technology, Media and Entertainment |Total Technology, Media and Entertainment
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Consumer and Services | Other Investment(s) in Debt | EMEA
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Consumer and Services | Total Consumer and Services
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Energy | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Energy | Total Energy
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Consumer and Services | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Digital Infrastructure | Total Digital Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Infrastructure Services | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Digital Infrastructure | Odyssey Holdco L.L.C. | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Industrials | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Transportation Infrastructure | Poseidon Seller 3 L.L.C. | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Total Debt Investments - Infrastructure (Cost: Americas $570,634, EMEA $25,910)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Transportation Infrastructure | Total Transportation Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Infrastructure | Transportation Infrastructure | Other Investments in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Consumer and Services| Other Investment(s) in Debt | EMEA
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Digital Infrastructure | Total Digital Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Consumer and Services | Total Consumer and Services
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Consumer and Services| Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Healthcare | Other Investment(s) in Debt | EMEA
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Healthcare | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Energy Infrastructure | Total Infrastructure
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Energy Infrastructure | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Digital Infrastructure | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Industrials | Total Industrials
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Industrials | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Healthcare | Total Healthcare
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Energy | Total Energy
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Energy | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Transportation Infrastructure | Other Investment(s) in Debt | Americas
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Total Investments and Investments in Affiliated Investee Funds (Cost: $3,822,467)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Total Debt Investments (Cost: Americas $1,101,545, EMEA $46,243, APAC $5,145)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Total Debt Investments - Liquid (Cost: Americas $443,224, EMEA $20,329, APAC $5,145)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Transportation Infrastructure | Total Transportation
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Investments and Investments in Affiliated Investee Funds | Debt Investments | Debt Investments - Liquid | Technology, Media and Entertainment | Other Investment(s) in Debt | EMEA
2025-12-31
0002030772
Investments | BXINFRA Aggregator (CYM) L.P. (129,060,376 Units)
2025-12-31
0002030772
Investments | Total Investments (Cost $3,324,540)
2025-12-31
0002030772
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2025-12-31
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2025-12-31
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nvestments | Total Investments (Cost $3,324,540)
2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Total Debt Investments - Liquids | APAC
2025-12-31
0002030772
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2025-12-31
0002030772
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2025-12-31
0002030772
Total Debt Investments - Infrastructure | EMEA
2025-12-31
0002030772
Total Debt Investments - Infrastructure | Americas
2025-12-31
0002030772
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2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Total Debt Investments | Americas
2025-12-31
0002030772
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2025-12-31
0002030772
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2025-12-31
0002030772
BXINFRA Aggregator (CYM) L.P. | Total Equity Investments | Various
2025-12-31
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BXINFRA Aggregator (CYM) L.P. | Total Equity Investments | APAC
2025-12-31
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2025-12-31
0002030772
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2025-12-31
0002030772
Odyssey Holdco L.L.C. (811,288 Shares)
2025-12-31
0002030772
Eucalyptus I HoldCo (CYM) L.P. (1,637,829,051,635 Shares)
2025-12-31
0002030772
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2025-12-31
0002030772
Hieroglyphs L.P. (220 Shares)
2025-12-31
0002030772
Mercury Co-Invest L.P. (783,265 Shares)
2025-12-31
0002030772
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2025-12-31
0002030772
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<div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Calibri;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Cybersecurity Risk Management and Strategy </div></div></div></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; text-indent: 0px;display:inline;"><div style="font-family: Calibri;display:inline;"></div> </div></div> <div style="text-indent: 3%;font-family: Times New Roman;font-size: 10pt;margin-top: 6pt;margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA’s <div style="text-wrap-mode: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div> operations are managed by <div style="display:inline;">Blackstone </div>Infrastructure Strategies Associates L.P. (the “General Partner”) <div style="display:inline;">subject </div>to certain </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">oversight</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> rights held by the Board of Directors.</div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> The General Partner has delegated BXINFRA’s portfolio management function to Blackstone Infrastructure Advisors L.L.C. (the “Investment Manager”). The General Partner and the Investment Manager are individually and collectively referred to as the “Sponsor.” The executive officers are senior Blackstone professionals and our General Partner and Investment Manager are both subsidiaries of Blackstone. As such, we are reliant on Blackstone for assessing, identifying and managing material risks to our business from cybersecurity threats. Below are details Blackstone has provided to us regarding its cybersecurity program that are relevant to us.</div></div><div style="margin-top: 1em; margin-bottom: 1em"></div><div style="text-indent: 3%;font-family: Times New Roman;font-size: 10pt;margin-top: 10pt;margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Blackstone maintains a comprehensive cybersecurity program, including policies and procedures designed to protect its systems, operations, and the data utilized and entrusted to it, including by BXINFRA, from anticipated threats or hazards. Blackstone utilizes a variety of protective measures as a part of its cybersecurity program. These measures include, where appropriate, physical and digital access controls, patch management, identity verification and mobile device management software, new hire and annual employee cybersecurity awareness and best practices training programs, security baselines and tools to report anomalous activity, and monitoring of data usage, hardware and software. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone tests its cybersecurity defenses regularly through automated and manual vulnerability scanning, to identify and remediate critical vulnerabilities. In addition, it conducts annual “white hat” penetration tests to validate its security posture. Blackstone internally examines its cybersecurity program on an annual basis and conducts a third-party review every two to three years to evaluate its effectiveness, in part by considering industry standards and established frameworks, such as those established by the National Institute of Standards and Technology and Center for Internet Security, as guidelines. Further, Blackstone engages in annual cybersecurity incident tabletop exercises and scenario planning exercises involving hypothetical cybersecurity incidents to test its cybersecurity incident response processes. Blackstone’s Chief Security Officer (the “CSO”) and members of Blackstone’s senior management, Legal and Compliance, Technology and Innovations (“BXTI”) and Global Corporate Affairs participate in these exercises. Learnings from these tabletop exercises and any cybersecurity events Blackstone experiences are reviewed, discussed, and incorporated into its incident response processes, as appropriate. </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div><div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;">In addition to Blackstone’s internal exercises to test aspects of its cybersecurity program, Blackstone periodically </div>engages<div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;"> independent third parties to analyze data on the interactions of users of Blackstone information technology resources, including Blackstone employees, and conduct penetration tests and scanning exercises to assess the performance of Blackstone’s cybersecurity systems and processes.</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone has a comprehensive Security Incident Response Plan (the “IRP”), designed to inform the proper escalation (including, as appropriate, to our senior management) of <div style="white-space: nowrap;display:inline;">non-routine</div> suspected or confirmed information security or cybersecurity events based on the expected risk an event presents. As appropriate, a Security Incident Response Team composed of individuals from several internal technical and managerial functions may be formed to investigate and remediate the event and determine the extent of external advisor support required, including from external counsel, forensic investigators, and/or law enforcement. The IRP sets out ongoing monitoring or remediation actions to be taken after resolution of an incident. The IRP is reviewed at least annually by members of BXTI and Blackstone’s Legal and Compliance. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="text-indent: 3%;font-family: Times New Roman;font-size: 10pt;margin-top: 12pt;margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone</div> maintains a formal cybersecurity risk management process and cybersecurity risk register, designed to identify, track and treat cybersecurity risks at the firm, and integrates these processes into the firm’s overall risk management practices described above. Blackstone’s CSO periodically discusses and reviews cybersecurity risks and related mitigants with its enterprise risk committee and incorporates relevant cybersecurity risk updates and metrics in the semi-annual enterprise-wide risk management report.</div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Blackstone has a process designed to assess the cybersecurity risks associated with the engagement of third-party vendors, including those of companies sponsored by Blackstone such as BXINFRA. This assessment is conducted on the basis of, among other factors, the types of services provided and the extent and type of Blackstone data accessed or processed by a third-party vendor. On the basis of its preliminary risk assessment of a third-party vendor, Blackstone may conduct further cybersecurity reviews or request remediation of, or contractual protections related to, any actual or potential identified cybersecurity risks. In addition, where appropriate, Blackstone seeks to include in its contractual arrangements with certain of its third-party vendors provisions addressing its requirements and industry best practices with respect to data and cybersecurity, as well as the right to assess, monitor, audit and test such vendors’ cybersecurity programs and practices. Blackstone also utilizes a number of digital controls, which are reviewed at least annually, to monitor and manage third-party access to its internal systems and</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div>data. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For a discussion of how risks from cybersecurity threats affect our business, and our reliance on Blackstone in managing these risks, see “—Item 1A. Risk Factors — Cyber Security and Operational Risk” in this Annual Report on Form <div style="white-space: nowrap;display:inline;">10-K.</div> </div></div></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Cybersecurity Governance </div></div></div></div></div><div style="text-indent: 3%;font-family: Times New Roman;font-size: 10pt;margin-top: 6pt;margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family:Calibri;display:inline;"></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-variant-ligatures: none; letter-spacing: 0px; font-size: 10pt; top: 0px;display:inline;">Blackstone has a dedicated cybersecurity team, led by <div style="display:inline;">Blackstone’s </div>CSO, who works closely with Blackstone senior management, including Blackstone’s Chief Technology Officer (“CTO”), to develop and advance the firm’s cybersecurity program and strategy, which applies to BXINFRA.</div><div style="font-variant-ligatures: none; letter-spacing: 0px; font-family: "Times New Roman"; font-size: 10pt; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone’s CSO and CTO have extensive experience in cybersecurity and technology, respectively. Blackstone’s CSO is a Senior Managing Director in BXTI and is responsible for all aspects of cyber and physical security across Blackstone. He has over 25 years of information security, technology and engineering experience, including having previously led the international security organization at a large credit bureau. </div></div></div><div style="background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone’s CTO is a Senior Managing Director and the head of BXTI. Blackstone’s CTO has over 24 years of information security, technology and engineering experience, including having previously served as the Chief Technology and Chief Innovation Officer at a large financial institution. 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The CSO and CTO are responsible for the review of Blackstone’s cybersecurity framework annually as well as on an event-driven basis, as necessary. The CSO and CTO also review the scope of Blackstone’s cybersecurity measures periodically, including in the event of a change in business practices that may implicate the security or integrity of Blackstone’s information and systems. </div></div></div><div style="text-indent: 3%;font-family: Times New Roman;font-size: 10pt;margin-top: 10pt;margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA’s Board of Directors and its Audit Committee are responsible for understanding the primary risks to our business. 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<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA’s <div style="text-wrap-mode: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div> operations are managed by <div style="display:inline;">Blackstone </div>Infrastructure Strategies Associates L.P. (the “General Partner”) <div style="display:inline;">subject </div>to certain </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">oversight</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> rights held by the Board of Directors.</div>
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<div style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"> </div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;">
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">1.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Organization </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">Blackstone</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> Infrastructure Strategies L.P. (“BXINFRA U.S.”) is a Delaware limited partnership formed on July 16, 2024, and is a private fund exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended (the “1940 Act”). BXINFRA U.S. was organized to invest primarily in infrastructure equity, secondaries and credit strategies (collectively, “Infrastructure Investments”). BXINFRA U.S. is structured as a perpetual-life strategy, with monthly, fully funded subscriptions and periodic redemptions. BXINFRA U.S. is conducting a continuous private offering of its limited partnership units (“Units”) in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), to investors that are both (a) accredited investors (as defined in Regulation D under the Securities Act) and (b) qualified purchasers (as defined in the 1940 Act and rules thereunder).</div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone Infrastructure Strategies (TE) L.P. (together with its consolidated subsidiary, the “Feeder”), a Delaware limited partnership, invests all or substantially all of its assets in BXINFRA U.S. The Feeder was established for certain investors with particular tax characteristics, such as <div style="white-space: nowrap;display:inline;">tax-exempt</div> investors and certain <div style="white-space: nowrap;display:inline;">non-U.S.</div> investors. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. invests all or substantially all of its assets through its investment in BXINFRA Aggregator (CYM) L.P. (together with its consolidated subsidiaries, the “Aggregator”). The Aggregator has the same investment objectives as BXINFRA U.S. The consolidated financial statements of the Aggregator, including the <div style="display:inline;">Condensed </div>Consolidated Schedule of Investments, are an integral part of BXINFRA U.S.’s financial statements and are included following these financial statements. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The term “Parallel Fund” refers to one or more parallel vehicles established by, or at the direction of, the Sponsor (as defined below) to invest alongside BXINFRA U.S., but excluding Blackstone Private Markets Solutions <div style="white-space: nowrap;display:inline;">SCA-SICAV</div> – Blackstone Infrastructure Strategies ELTIF, BXINFRA Aggregator SCSp and its Parallel Funds (together, “BXINFRA Lux”). Parallel Funds may be established for certain investors with particular legal, tax, regulatory, compliance, structuring or certain other operational requirements to participate in the Aggregator. Parallel Funds may not have investment objectives and/or strategies that are identical to the investment objectives and strategies of BXINFRA U.S. or the Feeder. BXINFRA U.S., the Feeder, the Aggregator and any Parallel Funds collectively form “BXINFRA.” BXINFRA and BXINFRA Lux collectively form the “BXINFRA Fund Program,” but are operated as distinct investment structures. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA’s investment objective is to deliver attractive risk-adjusted returns consisting of both current income and long-term capital appreciation. BXINFRA seeks to meet its investment objectives by investing primarily in Infrastructure Investments, leveraging the talent and investment capabilities of Blackstone Inc.’s (“Blackstone”) infrastructure platform to create an attractive portfolio of alternative infrastructure investments. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investment operations commenced on January 2, 2025 (the “Initial Closing Date”) when BXINFRA U.S. and the Feeder first sold unregistered limited partnership units to third-party investors and began investment operations. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">Blackstone Infrastructure</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> Strategies Associates L.P., a Delaware limited partnership, is the general partner (the “General Partner”) of BXINFRA U.S., the Feeder and the Aggregator. Overall responsibility for oversight of BXINFRA U.S. and the entities that carry out its investment objectives rests with the General Partner, subject to certain oversight rights held by BXINFRA U.S.’s board of directors (the “Board of Directors” or “Board”). The General Partner has delegated BXINFRA U.S.’s portfolio management function to Blackstone Infrastructure Advisors L.L.C. (the “Investment Manager”). The Investment Manager has discretion to make investments on behalf of BXINFRA U.S. and is responsible for initiating, structuring and negotiating BXINFRA U.S.’s investments, as well as actively managing each investment to seek to maximize value. The Investment Manager and its affiliates also provide certain administrative services to BXINFRA U.S. The Investment Manager is a Delaware limited liability </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">company </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">and</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> is registered with the United States Securities and Exchange Commission (the “SEC”) as an investment adviser under the Investment Advisers Act of 1940, as amended. The General Partner and the Investment Manager are individually and collectively referred to as the “Sponsor.” Both the General Partner and Investment Manager are subsidiaries of </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone. </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
2024-07-16
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Summary of Significant Accounting Policies </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="clear:both;max-height:0pt;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Basis of Presentation</div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> accompanying financial statements of BXINFRA U.S. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). BXINFRA U.S. is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 946</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, <div style="font-style: normal; letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;"><div style="font-family: Calibri;font-style:italic;display:inline;">Financial Services—Investment Companies</div></div> (“ASC 946</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">”). Management believes it has made all necessary adjustments (consisting of only normal recurring items) so that the financial statements are presented fairly.</div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Use of Estimates </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements. Management believes that estimates made in preparing its financial statements are reasonable. Such estimates include those used in the valuation of the investment in the Aggregator, including the valuation of the Aggregator’s investments and financial instruments and the measurement of deferred tax balances (including valuation allowances if any), at the Aggregator. Actual results may ultimately differ from those estimates. </div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Principles of Consolidation </div></div></div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">In accordance</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> with ASC 946</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, BXINFRA U.S. </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">generally does not consolidate investments unless BXINFRA U.S. has a controlling financial interest in an investment company or operating company whose business consists of providing services to BXINFRA U.S. A controlling financial interest is defined as (a) the power to direct the activities of the investment company that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the investment company. BXINFRA U.S. determines whether it has a controlling financial interest in an investment company at such company’s inception and continuously reconsiders that conclusion. In instances where BXINFRA U.S. wholly owns another investment company, BXINFRA U.S. believes this would constitute a controlling interest and consolidation would be appropriate. For <div style="white-space: nowrap;display:inline;">non-wholly</div> owned interests in investment companies, BXINFRA U.S. assesses the nature of the investment structure and considers its interests in and governance rights over the investment company to determine whether BXINFRA U.S. holds a controlling financial interest. Performance of that analysis requires the exercise of judgment. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;">BXINFRA </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="display:inline;"></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">U.S. does not have a controlling financial interest in and, as a result, does not consolidate the Aggregator, nor any other reporting entities within BXINFRA, because (a) the General Partner is not acting solely on behalf of BXINFRA U.S. as it carries out its duties and (b) BXINFRA U.S. does not absorb essentially all of the Aggregator’s variability. At each reporting date, BXINFRA U.S. assesses whether it has a controlling financial interest in the Aggregator or any other reporting entities within BXINFRA, and any associated consolidation implications. </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Calibri;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Valuation of Investments at Fair Value </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. has indirect exposure to gains and losses on underlying investments because it invests in the Aggregator, which holds such underlying investments. Valuations of investments held by the Aggregator are disclosed in the notes to the Aggregator’s consolidated financial statements. For information regarding net realized and change in unrealized gains and losses on such investments held indirectly by BXINFRA U.S., see the Aggregator’s consolidated financial statements included following these financial statements and see Note 3. “Investments and Fair Value Measurement” in the “Notes to Consolidated Financial Statements” of the Aggregator for information regarding the valuation of investments. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. measures its investment in the Aggregator at fair value using the net asset value of the Aggregator. The net asset value of the Aggregator is considered a practical expedient that represents fair value as (a) the investment does not have a readily determinable fair value because the Aggregator’s net asset value is not published or the basis for current transactions, (b) the Aggregator is an investment company and (c) the net asset value of the Aggregator is calculated in a manner in which all of its investments are reported at fair value as of the measurement date. Changes in the fair value of BXINFRA U.S.’s investment in the Aggregator are presented within Net Change in Unrealized Gain (Loss) on Investment in the Aggregator in the Statements of Operations. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Cash and Cash Equivalents </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Cash and Cash Equivalents represents cash on hand, cash held in banks and short-term, highly liquid investments with original </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> maturities of three months or less. BXINFRA U.S. may have bank balances in excess of federally insured amounts; however, BXINFRA U.S. deposits its Cash and Cash Equivalents with high credit-quality institutions to minimize credit risk. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Income Taxes </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. is treated as a partnership for U.S. federal income tax purposes and therefore generally is not subject to any U.S. federal and state income taxes. Taxable income is allocated to BXINFRA U.S.’s unitholders. It is possible that BXINFRA U.S. may be considered a publicly traded partnership and not meet the qualifying income exception in certain years. In such a scenario, BXINFRA U.S. would be treated as a publicly traded partnership taxed as a corporation, rather than a partnership. The investors in BXINFRA U.S. would be treated as shareholders in a corporation, and BXINFRA U.S. itself would become taxable as a corporation for U.S. federal, state and/or local income tax purposes. BXINFRA U.S. would be required to pay income tax at corporate rates on its net taxable income. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Taxes </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">GAAP requires the asset and liability method of accounting for income taxes. Under this method, deferred taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Valuation allowances are established when BXINFRA U.S. determines it is more likely than not that some portion or all of the deferred tax asset will not be realized. BXINFRA U.S. assesses all available positive and negative evidence, including the amount and character of future taxable income. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Uncertain Tax Positions </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">BXINFRA U.S. recognizes uncertain tax positions when it is more likely than not that the position will be sustained by the taxing authorities, based on the technical merits of the positions. The tax positions that meet the <div style="white-space: nowrap;display:inline;">more-likely-than-not</div> threshold are recognized based on the largest benefit that has a</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> greater than 50</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% likelihood of being realized upon ultimate settlement. BXINFRA U.S. reevaluates its tax positions each period in which new information becomes available. BXINFRA U.S.’s policy is to recognize <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">tax-related</div> interest and penalties, if applicable, as a component of the provision for income taxes on the Statements of Operations. </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. may declare quarterly distributions to its unitholders. Distributions to unitholders are recognized on the record date of the distribution. All distributions will be declared at the discretion of the General Partner considering factors such as earnings, cash flow, capital needs, taxes and general financial condition, and other such factors as the General Partner may deem relevant from time to time. Although the gross distribution per Unit is equivalent for each class, or series of a class, of Units, the net distribution for each class, or series of a class, of Units may be reduced for any class- or series-specific fees and expenses, if any. </div></div></div> </div> </div> <div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. has adopted a distribution reinvestment plan (“DRIP”) pursuant to which unitholders will have their cash distributions automatically reinvested in additional Units of BXINFRA U.S.’s same class of Units to which the distribution relates unless they elect to receive their distributions in cash. Distributions that are reinvested are recognized in net assets on the first calendar day following the record date of a distribution. </div></div></div> </div> </div> <div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Affiliates </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The General Partner, Investment Manager, Dealer Manager (as defined </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> in Note 6. “Related <div style="display:inline;">Party Transactions”), the Feeder, Parallel Funds, the Aggregator, BXINFRA Lux and other vehicles sponsored, advised and/or managed by Blackstone or its affiliates are affiliates of BXINFRA U.S. </div> </div></div></div> </div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Segment Reporting </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. operates through a single reportable segment. The chief operating decision makers (the “CODM”) is a group consisting of the BXINFRA U.S.’s Chief Executive Officer and Chief Financial Officer. The CODM assesses the performance of, allocates resources to and makes operating decisions for BXINFRA U.S. primarily based on BXINFRA U.S.’s Net Increase in Net Assets Resulting from Operations. Reportable segment assets are reflected on the accompanying Statements of Assets and Liabilities as Total Assets and reportable segment significant expenses reviewed by the CODM are listed on the accompanying Statements of Operations. </div></div></div> </div> </div> <div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div></div> </div> <div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Basis of Presentation</div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> accompanying financial statements of BXINFRA U.S. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). BXINFRA U.S. is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 946</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, <div style="font-style: normal; letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;"><div style="font-family: Calibri;font-style:italic;display:inline;">Financial Services—Investment Companies</div></div> (“ASC 946</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">”). Management believes it has made all necessary adjustments (consisting of only normal recurring items) so that the financial statements are presented fairly.</div></div>
<div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Use of Estimates </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements. Management believes that estimates made in preparing its financial statements are reasonable. Such estimates include those used in the valuation of the investment in the Aggregator, including the valuation of the Aggregator’s investments and financial instruments and the measurement of deferred tax balances (including valuation allowances if any), at the Aggregator. Actual results may ultimately differ from those estimates. </div></div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Principles of Consolidation </div></div></div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">In accordance</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> with ASC 946</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, BXINFRA U.S. </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">generally does not consolidate investments unless BXINFRA U.S. has a controlling financial interest in an investment company or operating company whose business consists of providing services to BXINFRA U.S. A controlling financial interest is defined as (a) the power to direct the activities of the investment company that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the investment company. BXINFRA U.S. determines whether it has a controlling financial interest in an investment company at such company’s inception and continuously reconsiders that conclusion. In instances where BXINFRA U.S. wholly owns another investment company, BXINFRA U.S. believes this would constitute a controlling interest and consolidation would be appropriate. For <div style="white-space: nowrap;display:inline;">non-wholly</div> owned interests in investment companies, BXINFRA U.S. assesses the nature of the investment structure and considers its interests in and governance rights over the investment company to determine whether BXINFRA U.S. holds a controlling financial interest. Performance of that analysis requires the exercise of judgment. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;">BXINFRA </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="display:inline;"></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">U.S. does not have a controlling financial interest in and, as a result, does not consolidate the Aggregator, nor any other reporting entities within BXINFRA, because (a) the General Partner is not acting solely on behalf of BXINFRA U.S. as it carries out its duties and (b) BXINFRA U.S. does not absorb essentially all of the Aggregator’s variability. At each reporting date, BXINFRA U.S. assesses whether it has a controlling financial interest in the Aggregator or any other reporting entities within BXINFRA, and any associated consolidation implications. </div></div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Valuation of Investments at Fair Value </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. has indirect exposure to gains and losses on underlying investments because it invests in the Aggregator, which holds such underlying investments. Valuations of investments held by the Aggregator are disclosed in the notes to the Aggregator’s consolidated financial statements. For information regarding net realized and change in unrealized gains and losses on such investments held indirectly by BXINFRA U.S., see the Aggregator’s consolidated financial statements included following these financial statements and see Note 3. “Investments and Fair Value Measurement” in the “Notes to Consolidated Financial Statements” of the Aggregator for information regarding the valuation of investments. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. measures its investment in the Aggregator at fair value using the net asset value of the Aggregator. The net asset value of the Aggregator is considered a practical expedient that represents fair value as (a) the investment does not have a readily determinable fair value because the Aggregator’s net asset value is not published or the basis for current transactions, (b) the Aggregator is an investment company and (c) the net asset value of the Aggregator is calculated in a manner in which all of its investments are reported at fair value as of the measurement date. Changes in the fair value of BXINFRA U.S.’s investment in the Aggregator are presented within Net Change in Unrealized Gain (Loss) on Investment in the Aggregator in the Statements of Operations. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Cash and Cash Equivalents </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Cash and Cash Equivalents represents cash on hand, cash held in banks and short-term, highly liquid investments with original </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> maturities of three months or less. BXINFRA U.S. may have bank balances in excess of federally insured amounts; however, BXINFRA U.S. deposits its Cash and Cash Equivalents with high credit-quality institutions to minimize credit risk. </div></div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Income Taxes </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. is treated as a partnership for U.S. federal income tax purposes and therefore generally is not subject to any U.S. federal and state income taxes. Taxable income is allocated to BXINFRA U.S.’s unitholders. It is possible that BXINFRA U.S. may be considered a publicly traded partnership and not meet the qualifying income exception in certain years. In such a scenario, BXINFRA U.S. would be treated as a publicly traded partnership taxed as a corporation, rather than a partnership. The investors in BXINFRA U.S. would be treated as shareholders in a corporation, and BXINFRA U.S. itself would become taxable as a corporation for U.S. federal, state and/or local income tax purposes. BXINFRA U.S. would be required to pay income tax at corporate rates on its net taxable income. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Taxes </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">GAAP requires the asset and liability method of accounting for income taxes. Under this method, deferred taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Valuation allowances are established when BXINFRA U.S. determines it is more likely than not that some portion or all of the deferred tax asset will not be realized. BXINFRA U.S. assesses all available positive and negative evidence, including the amount and character of future taxable income. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Uncertain Tax Positions </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">BXINFRA U.S. recognizes uncertain tax positions when it is more likely than not that the position will be sustained by the taxing authorities, based on the technical merits of the positions. The tax positions that meet the <div style="white-space: nowrap;display:inline;">more-likely-than-not</div> threshold are recognized based on the largest benefit that has a</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> greater than 50</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% likelihood of being realized upon ultimate settlement. BXINFRA U.S. reevaluates its tax positions each period in which new information becomes available. BXINFRA U.S.’s policy is to recognize <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">tax-related</div> interest and penalties, if applicable, as a component of the provision for income taxes on the Statements of Operations. </div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. may declare quarterly distributions to its unitholders. Distributions to unitholders are recognized on the record date of the distribution. All distributions will be declared at the discretion of the General Partner considering factors such as earnings, cash flow, capital needs, taxes and general financial condition, and other such factors as the General Partner may deem relevant from time to time. Although the gross distribution per Unit is equivalent for each class, or series of a class, of Units, the net distribution for each class, or series of a class, of Units may be reduced for any class- or series-specific fees and expenses, if any. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. has adopted a distribution reinvestment plan (“DRIP”) pursuant to which unitholders will have their cash distributions automatically reinvested in additional Units of BXINFRA U.S.’s same class of Units to which the distribution relates unless they elect to receive their distributions in cash. Distributions that are reinvested are recognized in net assets on the first calendar day following the record date of a distribution. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Affiliates </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The General Partner, Investment Manager, Dealer Manager (as defined </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> in Note 6. “Related <div style="display:inline;">Party Transactions”), the Feeder, Parallel Funds, the Aggregator, BXINFRA Lux and other vehicles sponsored, advised and/or managed by Blackstone or its affiliates are affiliates of BXINFRA U.S. </div> </div></div></div>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Segment Reporting </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. operates through a single reportable segment. The chief operating decision makers (the “CODM”) is a group consisting of the BXINFRA U.S.’s Chief Executive Officer and Chief Financial Officer. The CODM assesses the performance of, allocates resources to and makes operating decisions for BXINFRA U.S. primarily based on BXINFRA U.S.’s Net Increase in Net Assets Resulting from Operations. Reportable segment assets are reflected on the accompanying Statements of Assets and Liabilities as Total Assets and reportable segment significant expenses reviewed by the CODM are listed on the accompanying Statements of Operations. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">3.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investment in the Aggregator </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">BXINFRA U.S. recognizes dividend income on the record date of distributions, if any, from the Aggregator.</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> BXINFRA U.S. has an interest of 93.1% in the Aggregator as of December 31, 2025. BXINFRA U.S. had not commenced investing activities as of December 31, 2024. The remaining interest in the Aggregator is held by a Parallel Fund. BXINFRA U.S.’s interest in the Aggregator may result in BXINFRA U.S. indirectly holding investments of the Aggregator that, on a proportional basis, at times may exceed 5% of the net assets of BXINFRA U.S. For a listing of investments that may proportionally exceed 5% of BXINFRA U.S. net assets, see the <div style="display:inline;">Condensed </div>Consolidated Schedule of Investments of the Aggregator. </div></div></div>
93.1
0.05
0.05
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">4.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Line of Credit Agreement </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> January 2</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, BXINFRA U.S. </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(the “Borrower”) entered into an </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> unsecured, uncommitted line of credit agreement (“Line of Credit”) with Blackstone Holdings Finance Co. L.L.C. (“Finco”) providing up to a maximum amount of $300.0 million. On November 26</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, 2025<div style="display:inline;">,</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> the term of the Line of Credit was extended to January 2</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, 2027</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, subject to <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">one-year</div> extension options requiring Finco approval.</div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Under the Line of </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> Credit, the interest rate on the unpaid balance of the principal amount of each loan is the then-current borrowing rate offered by a third-party lender, or, if no such rate is available, the applicable Secured Overnight Financing Rate (“SOFR”) plus 3.50%. Each advance under the Line of Credit is repayable on the earliest of (a) the expiration of the Line of <div style="null;text-indent: 0px;display:inline;">Credit, (b) Finco’s demand or (c) the date on which the Investment</div> Manager no longer<div style="display:inline;"> acts as investment manager to the Borrower, provided that the Borrower will </div>have 180 days to make such </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: left;"> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div> </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">repayment in the cases of clauses (a) and (b) and 45</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> days to <div style="null;text-indent: 0px;display:inline;">make such repayment in the case of clause (c). To the extent the Borrower has not repaid all loans and other obligations under the Line of Credit after a repayment event has occurred, the Borrower is obligated to apply the net cash proceeds from its offering and any sale or other disposition of assets to the repayment of such loans and other obligations; provided that the Borrower will be permitted to (a) make distributions to avoid any entity level tax, (b) make payments to fulfill any redemption requests of the Borrower pursuant to any established unit redemption plans, (c) use funds to close any investment which the Borrower committed to prior to receiving a demand notice and (d) make distributions to its unitholders or shareholders at per Unit or per share levels consistent with the immediately preceding fiscal quarter. The Line of Credit also permits voluntary pre-payment of principal and accrued interest without any penalty other than customary SOFR breakage costs. The Line of Credit contains customary events of default. As is customary in such financings, if an event of default occurs under the Line of Credit, Finco may accelerate the repayment of amounts outstanding under the Line of Credit and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. As of</div> December 31</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, BXINFRA U.S. had no</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> borrowings or amounts outstanding under the Line of Credit. </div></div>
300000000
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">5.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Net Assets </div></div></div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S., at the direction of the General Partner, has the authority to issue an unlimited number of Units of each class, or series of a class. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2025, BXINFRA U.S. offered three classes of limited partnership Units: Class I, Class S and Class D Units. The key differences among each class, or series of a class, of Units relate to the ongoing servicing fees, the upfront subscription fee and distribution channels. The term “Transactional NAV” refers to the price at which transactions in BXINFRA U.S. are made, calculated in accordance with a valuation policy that has been approved by the Board of Directors. The purchase price per Unit is equal to the Transactional NAV per Unit for such class, or series of a class, as of the last calendar day of the immediately preceding month. Before BXINFRA U.S. determined its first Transactional NAV, the initial subscription price for Units was<div style="display:inline;"> </div></div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$25.00<div style="display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">per Unit plus applicable subscription fees that are paid by the unitholder outside its investment in BXINFRA U.S. and not reflected in BXINFRA U.S.’s Transactional NAV. The Transactional NAV for each class, or series of a class, of Units was first determined as of the end of the first full month after the Initial Closing Date. Thereafter, BXINFRA U.S.’s Transactional NAV is based on the <div style="white-space: nowrap;display:inline;">month-end</div> values of investments, the addition of the value of any other assets such as cash, the deduction of any liabilities and the deduction of expenses attributable to certain classes, or series of classes, such as applicable servicing fees. At the end of each month, BXINFRA U.S. allocates its Net Investment Income (Loss) and Net Change in Unrealized Gain (Loss) on Investment in the Aggregator across each class, or series of a class, of Units based on their relative ownership share in BXINFRA U.S. as of the first calendar day of that month. From time to time, the Sponsor, out of its own resources and without additional cost to BXINFRA or its investors, may offer other discounts, waivers or other incentives to investors. </div></div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Unit issuances related to monthly subscriptions are effective the first calendar day of each month. Units are issued at a price per Unit equivalent to BXINFRA U.S.’s most recent Transactional NAV per Unit available for each class, or series of a class, of Units, which is BXINFRA U.S.’s prior <div style="white-space: nowrap;display:inline;">month-end</div> Transactional NAV per Unit. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following tables present transactions in the Units during the periods: </div></div><br/></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class I</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class S</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class D</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of July 16, 2024 (Inception)</div></div></div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Issued</div></div></div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr>
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px; margin-left: 1em; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(255, 255, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Issued</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">82,384,367</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">41,953,559</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,853,302</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">128,191,228</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Distribution Reinvested</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">678,766</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">484,058</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">47,958</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,210,782</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(255, 255, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Conversion of Units Between Classes</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">90,541</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(462,693</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">370,422</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(1,730</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Redemption of Units</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(19,571</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(12,881</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(32,452</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(255, 255, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2025</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">83,138,103</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">41,962,043</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,271,682</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">129,371,828</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Unit Redemption Plan </div></div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="null;text-indent: 0px;display:inline;"></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">In accordance with the BXINFRA U.S. Partnership Agreement (as defined below), BXINFRA U.S. expects to periodically redeem up to </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">3% </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">of its Units outstanding (the “Unit Redemption Plan”). Under the Unit Redemption Plan, to the extent BXINFRA U.S. redeems Units in any particular quarter, BXINFRA U.S. expects to use a purchase price equal to the Transactional NAV per Unit as of the date specified in the Unit Redemption Plan. Any redemption requests of Units that have been outstanding for less than two years will be subject to an early redemption deduction equal to </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">5% <div style="display:inline;">of the value of such Transactional NAV of the Units being redeemed, subject to certain exceptions in the General Partner’s sole discretion (the “Early Redemption Deduction”). Any Early Redemption Deduction will be retained by BXINFRA U.S. for the benefit of all investors. </div> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In accordance with the terms of the Feeder’s limited partnership agreement, unitholders of the Feeder, as indirect holders of BXINFRA U.S., participate in BXINFRA U.S.’s Unit Redemption Plan under the same terms as direct unitholders of BXINFRA U.S. Accordingly, a redemption request by a unitholder of the Feeder will be satisfied by redeeming the same number of Units in BXINFRA U.S. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">If the quarterly volume limitation is reached in any particular calendar quarter or the General Partner determines to redeem fewer Units than have been requested to be redeemed in any particular calendar quarter, Units submitted for redemption during such quarter will be redeemed on <div style="white-space: nowrap;display:inline;">a pro-rata basis</div> after BXINFRA U.S. has redeemed all Units for which redemption has been requested due to death, disability or divorce and other limited exceptions. Unsatisfied redemption requests will not be automatically carried over to the next redemption period and, in order for a redemption request to be reconsidered, unitholders must resubmit their request in the next available redemption window. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The General Partner, with the approval of the Independent Directors, as applicable, may make exceptions to, modify or suspend the Unit Redemption Plan if, in its reasonable judgment, it deems such action to be in the best interest of BXINFRA U.S. and its unitholders (including the Feeder), including, but not limited to, for tax, regulatory or other structuring reasons. As a result, Unit redemptions may not be available each quarter, such as when redemptions would place an undue burden on BXINFRA U.S.’s liquidity, adversely affect its operations or pose a potential adverse impact on BXINFRA U.S. that would outweigh the benefit of the redemptions. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">BXINFRA U.S. accepted its first redemptions pursuant to the Unit Redemption Plan on April 15, 2025. During the year ended December 31, 2025,<div style="display:inline;"> </div></div></div>32,452<div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;"> <div style="null;text-indent: 0px;display:inline;">Units were redeemed for an aggregate value, net of the Early Redemption Deduction, of</div> $</div>0.8<div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;"> million, of which </div>5,154<div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;"> Units at an aggregate value of $</div>0.1<div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;"> <div style="display:inline;">million related to redemptions by the Feeder. </div></div><br/></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: left;"><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div></div><div style="margin-top: 1em; margin-bottom: 1em"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. may declare quarterly distributions as authorized by the General Partner and may pay such distributions to unitholders on a quarterly basis. </div></div></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table presents a </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">summary of the aggregate distributions declared and payable for the year ended December 31, 2025 for each applicable class of Units.</div></div></div></div></div><div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><br/></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 40%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="11" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions per Unit</div></div></div></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"><div style="font-family: Calibri; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Declaration Date</div></div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Record Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Payment Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class I</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class S</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class D</div></div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">April 29, 2025</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">March 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (a)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">May 2, 2025</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0958</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0958</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0958</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">July 29, 2025</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">June 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">August 1, 2025</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1998</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1998</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1998</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">October 22, 2025</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">September 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">November 3, 2025</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1996</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1996</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1996</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">January 28, 2026</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">December 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">February 4, 2026</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2194</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2194</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2194</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 40%;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-family: "Times New Roman"; width: 40%;"></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 0.7146</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 0.7146</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 0.7146</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 40%;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table></div></div><div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record immediately following the close of business. </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record as of the open of business. </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div></div></div></div></div></div></div></div></div><div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div><div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Distribution Reinvestment Plan </div></div></div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">BXINFRA U.S. has adopted an “opt out” DRIP for unitholders. When a cash distribution is declared, each unitholder that has not “opted out” of the DRIP prior to the payment date will have their distributions automatically reinvested in additional Units rather than receive cash distributions, for a purchase price equal to the most recently available Transactional NAV per Unit for such Unit. </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Distributions on fractional Units will be credited to each participating unitholder’s account to three decimal places. Investors and clients of certain participating brokers that do not permit automatic enrollment in BXINFRA U.S.’s DRIP will automatically receive their distributions in cash unless they elect to have their cash distributions reinvested in additional Units. Unitholders will not pay subscription fees when purchasing Units under the DRIP.</div></div></div></div></div><div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For the year ended </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> December 31, 2025, $17.8 million, $12.6 million and $1.3 million of distributions were reinvested in Class I, Class S and Class D Units, respectively. </div></div></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div>
25
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following tables present transactions in the Units during the periods: </div></div><br/></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 57%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class I</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class S</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class D</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of July 16, 2024 (Inception)</div></div></div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Issued</div></div></div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr>
<td style="vertical-align: top; width: 57%;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px; margin-left: 1em; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(255, 255, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Issued</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">82,384,367</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">41,953,559</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,853,302</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">128,191,228</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Distribution Reinvested</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">678,766</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">484,058</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">47,958</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,210,782</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(255, 255, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Conversion of Units Between Classes</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">90,541</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(462,693</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">370,422</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(1,730</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Redemption of Units</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(19,571</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(12,881</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(32,452</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(255, 255, 255); width: 57%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2025</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">83,138,103</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">41,962,043</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,271,682</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">129,371,828</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
0
0
0
0
4000
0
0
4000
4000
0
0
4000
4000
0
0
4000
82384367
41953559
3853302
128191228
678766
484058
47958
1210782
90541
-462693
370422
-1730
19571
12881
0
32452
83138103
41962043
4271682
129371828
0.03
0.05
32452
800000
5154
100000
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table presents a </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">summary of the aggregate distributions declared and payable for the year ended December 31, 2025 for each applicable class of Units.</div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><br/></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 40%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="11" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions per Unit</div></div></div></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"><div style="font-family: Calibri; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Declaration Date</div></div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Record Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Payment Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class I</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class S</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class D</div></div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">April 29, 2025</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">March 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (a)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">May 2, 2025</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0958</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0958</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0958</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">July 29, 2025</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">June 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">August 1, 2025</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1998</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1998</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1998</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">October 22, 2025</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">September 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">November 3, 2025</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1996</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1996</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.1996</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt; width: 40%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">January 28, 2026</div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">December 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">February 4, 2026</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2194</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2194</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2194</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 40%;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-family: "Times New Roman"; width: 40%;"></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 0.7146</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 0.7146</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 0.7146</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 40%;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record immediately following the close of business. </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record as of the open of business. </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="clear: both; max-height: 0px;"></div>
2025-04-29
2025-03-31
2025-05-02
0.0958
0.0958
0.0958
2025-07-29
2025-06-30
2025-08-01
0.1998
0.1998
0.1998
2025-10-22
2025-09-30
2025-11-03
0.1996
0.1996
0.1996
2026-01-28
2025-12-31
2026-02-04
0.2194
0.2194
0.2194
0.7146
0.7146
0.7146
17800000
12600000
1300000
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">6.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Related Party Transactions </div></div></div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Partnership Agreement </div></div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. has entered into an amended and restated limited partnership agreement (as may be further amended and restated from time to time, the “BXINFRA U.S. Partnership Agreement”), with the General Partner. Under the terms of the BXINFRA U.S. Partnership Agreement, overall responsibility for BXINFRA U.S.’s oversight rests with the General Partner, subject to certain oversight rights held by the Board of Directors. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Performance Participation Allocation </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 8pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The General Partner receives a performance participation allocation </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(“Performance Participation Allocation”) by BXINFRA U.S. Investors in BXINFRA U.S., the Feeder and any Parallel Funds indirectly bear a portion of the Performance Participation Allocation paid by the Aggregator, but such expenses are not duplicated at BXINFRA U.S., the Feeder or Parallel Funds. For the year ended December 31, 2025, BXINFRA U.S. was allocated $44.1 million of the Performance Participation Allocation recognized by the Aggregator. BXINFRA U.S. had no Performance Participation Allocation during the year ended December 31, 2024. The Performance Participation Allocation is included as a component of Net Change in Unrealized Gain (Loss) on Investment in the Aggregator in the Statements of Operations. Refer to the Aggregator’s consolidated financial statements for more information regarding the Performance Participation Allocation. </div></div></div><div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investment Management Agreement </div></div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. has entered into an investment management agreement with the Investment Manager (as may be further amended and restated from time to time, the “Investment Management Agreement”). As part of carrying out its investment management services, the Investment Manager has entered, and may in the future enter into <div style="white-space: nowrap;display:inline;">sub-advisory,</div> or other similar arrangements, with other advisory subsidiaries of Blackstone. These <div style="white-space: nowrap;display:inline;">sub-advisory</div> relationships do not affect the terms of the Investment Management Agreement. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Management Fee </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In consideration for its investment management services, BXINFRA pays the Investment Manager a management fee (the “Management Fee”). Investors in BXINFRA U.S., the Feeder and any Parallel Funds indirectly bear a portion of the Management Fee paid by the Aggregator, but such expenses are not duplicated at BXINFRA U.S., the Feeder or Parallel Funds. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">agreed to waive the Management Fee for the first six months following the Initial Closing Date. Effective July 1, 2025, the Aggregator began accruing the Management Fee attributable to BXINFRA U.S. The Management Fee is included as a component of Net Change in Unrealized Gain (Loss) on Investment in the Aggregator in the Statements of Operations. Refer to the Aggregator’s consolidated financial statements for more information regarding the Management</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div>Fee. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">For the year ended</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> December 31, 2025, BXINFRA U.S. was allocated $28.3 million of the gross Management Fee recognized by the Aggregator, of which $9.9 million was waived by the Investment Manager for the year ended December 31, 2025. BXINFRA U.S. had no gross Management Fee during the year ended December 31, 2024. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Administration Fee </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager and its affiliates provide administration services to BXINFRA, consistent with the BXINFRA U.S. Partnership Agreement and Investment Management Agreement. In consideration for its administrative services, the Investment Manager is entitled to receive an administration fee (the “Administration Fee”) payable by BXINFRA. Investors in BXINFRA U.S., the Feeder and any Parallel Funds indirectly bear a portion of the Administration Fee, paid by the Aggregator, but such expenses are not duplicated at BXINFRA U.S., the Feeder or Parallel Funds. </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">For the year ended December 31, 2025, BXINFRA U.S. was allocated $2.3 million of the Administration Fee recognized by the Aggregator. BXINFRA U.S. had no Administration Fee during the year ended December 31, 2024. The Administration Fee is included as a component of Net Change in Unrealized Gain (Loss) on Investment in the Aggregator in the Statements of Operations. Refer to the Aggregator’s consolidated financial statements for more information regarding the Administration Fee. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Dealer Manager Agreement </div></div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. and the Feeder entered into an amended and restated dealer manager agreement, as may be further amended and restated from time to time (the “Dealer Manager Agreement”) with Blackstone Securities Partners L.P. (the “Dealer Manager”), a broker-dealer registered with the SEC under the Securities Exchange Act of 1934, as amended, and a member of the Financial Industry Regulatory Authority. Pursuant to the Dealer Manager Agreement, the Dealer Manager manages BXINFRA U.S.’s relationships with third-party brokers engaged by the Dealer Manager to participate in the distribution of Units, </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">which are referred to as participating brokers, and financial advisors. The Dealer Manager also coordinates BXINFRA U.S.’s marketing and distribution efforts with participating brokers and their registered representatives with respect to communications related to the terms of BXINFRA U.S.’s offering, its investment strategies, material aspects of its operations and subscription procedures. </div></div></div><div style="text-align: left;"><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;">The Dealer Manager is entitled to receive unitholder servicing fees monthly in arrears at an annual rate </div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;">of 0.85%<div style="font-family: Calibri;display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; text-indent: 0px; font-family: Calibri;display:inline;">and</div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;"> </div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.25% </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">of the value of BXINFRA U.S.’s Transactional NAV attributable to Class S and Class D Units, respectively, as of the last day of each month. In calculating the servicing fees, BXINFRA U.S. uses the Transactional NAV before giving effect to any accruals for the servicing fees, redemptions for that month and distributions, if any, payable on BXINFRA U.S.’s Units. There are no unitholder servicing fees with respect to Class I Units. The unitholder servicing fees are payable to the Dealer Manager, but the Dealer Manager anticipates that all of such fees will be retained by, or reallowed (paid) to, participating brokers or other financial intermediaries. </div></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">BXINFRA U.S. accrues the cost of the unitholder servicing fees for the estimated life of the Units, as applicable, as a distribution cost at the time Class S and Class D Units are sold. Servicing Fees Payable as of December 31, 2025 were </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$69.2 million. There was no Servicing Fees Payable as of December 31, 2024. </div></div></div> </div> </div> </div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Line of Credit and Warehousing Agreements </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. entered into an unsecured, uncommitted Line of Credit with Finco. BXINFRA U.S. and the Investment Manager, in its capacity as investment manager, on behalf of BXINFRA U.S. and not for its own account, entered into the A&R Warehousing Agreement (as defined below) with Finco in connection with the launch and <div style="white-space: nowrap;display:inline;">ramp-up</div> of the BXINFRA Fund Program. For additional information, see Note 4. “Line of Credit Agreement” and Note 9. “Warehousing Agreement.” </div></div></div> </div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div></div> </div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Due to/from Affiliates </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Due to Affiliates is composed of cash advances made by Finco on behalf of BXINFRA U.S. for the payment of fund expenses. These amounts are intended to be cash reimbursed by BXINFRA U.S. and are <div style="white-space: nowrap;display:inline;">non-interest</div> bearing. Due from Affiliates is composed of balances owed to BXINFRA U.S. from other <div style="white-space: nowrap;display:inline;">non-consolidated</div> entities within BXINFRA. </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">BXINFRA Lux </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA invests alongside BXINFRA Lux, a European long-term investment fund available to investors primarily domiciled in countries of the European Economic Area, the United Kingdom, Switzerland, certain Asian jurisdictions or certain other jurisdictions. While BXINFRA and BXINFRA Lux have substantially similar investment objectives and strategies and are expected to have highly overlapping investment portfolios, BXINFRA and BXINFRA Lux are operated as distinct investment structures. </div></div></div> </div> </div> <div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div></div> </div> <div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
44100000
0
28300000
9900000
0
2300000
0
0.0085
0.0025
69200000
0
<div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">7.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Commitments and Contingencies </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Commitments </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For information regarding investment commitments, see the Aggregator’s consolidated financial statements. To the extent funded, these investments are expected to reside at the Aggregator but may be funded from BXINFRA U.S.’s available liquidity, including proceeds from the issuance of Units by BXINFRA U.S. and available borrowing capacity under the Line of Credit. For information regarding the Line of Credit, see Note 4. “Line of Credit Agreement.” </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Contingencies </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA U.S. may, from time to time, be party to various legal matters arising in the ordinary course of business, including claims and litigation proceedings. As of December 31, 2025, BXINFRA U.S. was not subject to any material litigation nor was BXINFRA U.S. aware of any material litigation threatened against it. </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Indemnifications </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In the normal course of business, BXINFRA U.S. enters into contracts that contain a variety of indemnification arrangements. BXINFRA U.S.’s exposure under these arrangements, if any, cannot be quantified. However, BXINFRA U.S. has not had any claims or losses pursuant to these indemnification arrangements and expects the potential for a material loss to be remote as of December 31, 2025. </div></div><br/></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">8.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Income Taxes </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Uncertain Tax Positions </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2025 and December 31, 2024, BXINFRA U.S. is not aware of any uncertain tax positions that would require recognition in the financial statements. </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">One Big Beautiful Bill Act </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law in the U.S., introducing a broad range of tax reform provisions affecting businesses, including extending and modifying certain key provisions of the Tax Cuts & Jobs Act of 2017. In accordance with GAAP, the effects of the enacted tax law changes were recognized in the period of enactment. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The OBBBA did not change the U.S. federal corporate income tax rate. BXINFRA U.S. evaluated the provisions of the law and determined there was no remeasurement of the deferred tax assets and liabilities and that the OBBBA had no material impact to BXINFRA U.S.’s financial statements as of and for the year ended December 31, 2025. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">9.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Warehousing Agreement </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="null;text-indent: 0px;display:inline;"></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">On August 22, 2025, BXINFRA U.S., BXINFRA Lux, the Investment Manager and Finco entered into an amended and restated warehous<div style="display:inline;">ing</div> agreement (as may be further amended and restated from time to time, the “A&R Warehousing Agreement”). Under the A&R Warehousing Agreement, in connection with the launch and <div style="white-space: nowrap;display:inline;">ramp-up</div> of the BXINFRA Fund Program, Finco and its affiliates agreed to acquire certain investments that were approved by the Investment Manager and the BXINFRA Investment Committee up to an aggregate invested amount of $</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">675.0 </div><div style="letter-spacing: 0px; top: 0px;display:inline;">million (or such higher amount as is agreed between the parties), subject in each case, to Finco’s approval at the time of acquisition (each, an “Approved Warehoused Investment”). At any time during the term of the A&R Warehousing Agreement, an Approved Warehoused Investment is acquired by consolidated legal entities of Finco, which together act as the “BXINFRA Warehouse.”</div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Finco agreed to subsequently transfer each Approved Warehoused Investment to BXINFRA U.S. or BXINFRA Lux, as applicable, and BXINFRA U.S. or BXINFRA Lux agreed to acquire such investments from Finco on the terms described in the A&R Warehousing Agreement following the point or points in time at which BXINFRA U.S. or BXINFRA Lux has sufficient capital to acquire such investments, as determined by the Investment Manager in its sole discretion (each such date, a “Warehouse Closing Date”) at a price equal to the cost of such Approved Warehoused Investment paid by Finco plus an amount equal to an annualized rate </div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of 5%</div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div>(or such lower amount as is agreed between the parties) measured over the period from the date the Approved Warehoused Investment</div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: left;"> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div> </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">was acquired by the BXINFRA Warehouse to the applicable Warehouse Closing Date. The Investment Manager has determined, and will continue to determine, in its sole discretion which and what portions of Approved Warehoused Investments BXINFRA U.S. or BXINFRA Lux, as applicable, has acquired, or will acquire, on each Warehouse Closing Date. Finco will continue to provide committed funding for Approved Warehoused Investments until the applicable Warehouse Closing Date, unless extended by the mutual agreement of the parties. BXINFRA will bear its proportionate (a) fees, costs and expenses, if any, incurred in developing, negotiating and structuring any Approved Warehoused Investment that is transferred to BXINFRA and (b) broken deal expenses. The term of the A&R Warehousing Agreement shall be through August 21, 2026 (one year), unless extended by mutual agreement of the parties. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">During the year ended December 31, 2025, BXINFRA acquired nine investments as well as a liquid loan portfolio from the BXINFRA Warehouse at cost pursuant to the A&R Warehousing Agreement. Finco agreed to waive </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the 5%</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div>annualized amount in excess of cost contemplated by the A&R Warehousing Agreement in connection with the transfer of such investments. The fee accrued is reported in Warehousing Fees and the waived fee is reported in Warehousing Fees Waived on the Statements of Operations. </div></div></div> </div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="display:inline;"></div></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2025, there were seven investments for a total commitment amount of </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">$952.6 </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">million remaining in the BXINFRA Warehouse, out of which </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">$294.2 </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">million has been funded by Finco. Any investments that have not yet closed are subject to customary closing conditions, and the BXINFRA Fund Program’s obligation to purchase any of the investments from Finco is contingent upon BXINFRA and BXINFRA Lux raising sufficient capital to purchase such assets as determined by the Investment Manager. As of December 31, 2025, the Investment Manager had not determined the allocation of investments of the BXINFRA Warehouse between BXINFRA and BXINFRA Lux and it is not certain whether BXINFRA will ultimately acquire any such investments. </div></div></div> </div> </div>
675000000
0.05
0.05
952600000
294200000
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<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">10.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Financial Highlights </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following financial highlights are calculated for the unitholders of BXINFRA U.S. as a whole and exclude data for the General Partner, except as otherwise noted herein. Calculation of these highlights on an individual unitholder basis may yield results that vary from those stated herein due to the timing of capital transactions and differing fee arrangements. BXINFRA U.S. had not received subscriptions or commenced investing activities during the year ended December 31, 2024. </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div> </div> </div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;">
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 88%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="11" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended December 31, 2025 (a)</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class I</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class S</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class D</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Per Unit Data</div></div></div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, Beginning of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Proceeds from Units Issued</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.69</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.68</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.69</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Change in Unrealized Gain (Loss) on Investment in the Aggregator</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.57</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.55</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.55</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="null;text-indent: 0px;display:inline;">Net Increase in Net Assets Resulting from<div style="display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investment Operations</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.26</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.24</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.24</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Distributions</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.71</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.71</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.71</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Servicing Fees</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(1.78</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.54</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Increase in Net Assets</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.54</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.74</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1.99</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">27.54</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.74</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">26.99</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 83,138,103</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 41,962,043</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 4,271,682</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Return Based on Net Asset Value (b)</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">13.02</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">5.81</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">10.82</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Ratios to Weighted-Average Net Assets <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">(Non-Annualized)</div></div></div></div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Expenses without Waivers (c)</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.93</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.94</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.93</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Warehousing Fees Waivers</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.83</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.85</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.84</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Expenses</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.09</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.10</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.10</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4.39</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4.40</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4.47</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="clear: both; max-height: 0px;"></div> <div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:18%"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Amounts may not add due to rounding. </div></div></div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Total return is calculated as the change in Net Asset Value per Unit during the period, plus distributions per Unit (assuming dividends and distributions are reinvested in accordance with BXINFRA U.S.’s distribution reinvestment plan) divided by the initial Net Asset Value per Unit of $25.00. Total return does not include upfront transaction fees, if any. </div></div></div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(c)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Expense ratio includes Professional Fees, Directors’ Fees, Warehousing Fees and Other. </div></div></div> </td> </tr> </table>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following financial highlights are calculated for the unitholders of BXINFRA U.S. as a whole and exclude data for the General Partner, except as otherwise noted herein. Calculation of these highlights on an individual unitholder basis may yield results that vary from those stated herein due to the timing of capital transactions and differing fee arrangements. BXINFRA U.S. had not received subscriptions or commenced investing activities during the year ended December 31, 2024. </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div> </div> </div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;">
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 88%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="11" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended December 31, 2025 (a)</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class I</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class S</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class D</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Per Unit Data</div></div></div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, Beginning of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td>
<td style="vertical-align: bottom; line-height: 0px; font-size: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); font-size: 0px; line-height: 0px;"><div style="font-size: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; line-height: 0px; font-size: 0px;display:inline;"> </div></div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Proceeds from Units Issued</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.69</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.68</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.69</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Change in Unrealized Gain (Loss) on Investment in the Aggregator</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.57</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.55</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.55</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 88%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="null;text-indent: 0px;display:inline;">Net Increase in Net Assets Resulting from<div style="display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investment Operations</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.26</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.24</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.24</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Distributions</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.71</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.71</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.71</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Servicing Fees</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(1.78</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.54</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Increase in Net Assets</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.54</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.74</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1.99</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">27.54</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.74</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">26.99</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 83,138,103</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 41,962,043</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> 4,271,682</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Return Based on Net Asset Value (b)</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">13.02</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">5.81</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">10.82</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Ratios to Weighted-Average Net Assets <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">(Non-Annualized)</div></div></div></div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Expenses without Waivers (c)</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.93</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.94</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.93</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Warehousing Fees Waivers</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.83</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.85</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.84</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Expenses</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.09</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.10</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.10</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4.39</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4.40</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align: bottom; width: 0%; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4.47</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="clear: both; max-height: 0px;"></div> <div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:18%"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Amounts may not add due to rounding. </div></div></div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Total return is calculated as the change in Net Asset Value per Unit during the period, plus distributions per Unit (assuming dividends and distributions are reinvested in accordance with BXINFRA U.S.’s distribution reinvestment plan) divided by the initial Net Asset Value per Unit of $25.00. Total return does not include upfront transaction fees, if any. </div></div></div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(c)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Expense ratio includes Professional Fees, Directors’ Fees, Warehousing Fees and Other. </div></div></div> </td> </tr> </table>
0
0
0
25
25
25
0.69
0.68
0.69
2.57
2.55
2.55
3.26
3.24
3.24
0.71
0.71
0.71
0
-1.78
-0.54
2.54
0.74
1.99
27.54
25.74
26.99
83138103
41962043
4271682
0.1302
0.0581
0.1082
0.0093
0.0094
0.0093
0.0083
0.0085
0.0084
0.0009
0.001
0.001
0.0439
0.044
0.0447
25
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">11.</div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Subsequent Events </div></div></div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Except as noted below, there have been no events since December 31, 2025 that require recognition or disclosure in the financial statements. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As of March 6, 2026, BXINFRA U.S. redesignated its existing Class I Units as <div style="white-space: nowrap;display:inline;">Class I-Series</div> I Units and designated two new series of Class I Units, <div style="white-space: nowrap;display:inline;">Class I-Series</div> II Units and <div style="white-space: nowrap;display:inline;">Class I-Series</div> III Units. The redesignation did not result in any adjustments to the financial statements. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
3019921000
0
3167543000
0
72049000
0
802546000
0
920479000
0
64744000
0
193000
0
0
0
143000
0
75138000
0
1181000
0
4301470000
0
918000
0
70000000
0
58005000
0
4319000
0
256138000
0
47377000
0
7848000
0
0
0
265000
0
3165000
0
507000
0
3188000
0
628000
0
410000
0
30486000
0
1178000
0
484432000
0
unlimited
unlimited
138551291
138551291
0
0
3817038000
0
unlimited
unlimited
0
0
0
0
0
0
3817038000
0
4301470000
0
60416000
0
34328000
0
3937000
0
98681000
0
30519000
0
3188000
0
47377000
0
13081000
0
241000
410000
0
2441000
0
3468000
1115000
0
101840000
0
10701000
0
665000
0
90474000
0
8207000
0
4195000
0
4012000
0
-17090000
0
331270000
0
-123000
0
6392000
0
320449000
0
324461000
0
0
0
0
0
0
0
0
0
0
3538760000
0
3538760000
4012000
0
4012000
32253000
0
32253000
-76585000
0
-76585000
-17090000
0
-17090000
331270000
0
331270000
-123000
0
-123000
6392000
0
6392000
1851000
0
1851000
3817038000
0
3817038000
324461000
0
-17090000
0
331270000
0
-123000
0
6392000
0
648000
0
-270000
0
410000
0
4847629000
0
1008682000
0
193000
0
75138000
0
1591000
0
918000
0
4319000
0
256138000
0
47377000
0
7848000
0
3165000
0
507000
0
3188000
0
628000
0
410000
0
-3586571000
0
3538760000
0
32253000
0
136457000
0
78452000
0
1144000000
0
1074000000
0
46099000
0
673000
0
3652246000
0
-931000
0
64744000
0
0
0
64744000
0
523000
0
30486000
0
1178000
0
1637829051635
346583000
0.091
811288
244587000
0.064
21259000
0.006
612429000
0.16
123060000
0.032
123060000
0.032
500000
580177000
0.152
783265
534915000
0.14
220
222041000
0.058
76000
0
1337209000
0.35
640423
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0.027
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197485000
0.052
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62031000
0.016
62031000
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0.001
2549000
0.001
112436000
0.029
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0.029
20012000
0.005
20012000
0.005
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0.019
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0.017
137885000
0.036
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25914000
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0.001
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51262000
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<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">1.</div></div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Organization </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA Aggregator (CYM) L.P. is a Cayman Islands exempted limited partnership formed on </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">August 13, 2024. </div></div><div style="display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA Aggregator (CYM) L.P. with its consolidated subsidiaries collectively form the “Aggregator.” The Aggregator operates in accordance with the exempted amended and restated limited partnership agreement, as may be further amended and restated from time to time (the “Aggregator Partnership Agreement”). </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone Infrastructure Strategies L.P. (“BXINFRA U.S.”) and Blackstone Infrastructure Strategies (TE) L.P. (together with its consolidated subsidiary, the “Feeder”) are private funds exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. BXINFRA U.S. and the Feeder are organized to invest primarily in infrastructure equity, secondaries and credit strategies (collectively, “Infrastructure Investments”). BXINFRA U.S. and the Feeder are structured as a perpetual-life strategy with monthly, fully funded subscriptions and periodic redemptions. The Feeder invests all or substantially all of its assets in BXINFRA U.S. In turn, BXINFRA U.S. invests all or substantially all of its assets in the Aggregator. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The term “Parallel Fund” refers to one or more parallel vehicles established by, or at the direction of, the Sponsor (as defined below) to invest alongside BXINFRA U.S., but excluding Blackstone Private Markets Solutions <div style="white-space: nowrap;display:inline;">SCA-SICAV</div> – Blackstone Infrastructure Strategies ELTIF, BXINFRA Aggregator SCSp and its parallel funds (together, “BXINFRA Lux”). Parallel Funds may be established to allow certain investors with particular legal, tax, regulatory, compliance, structuring or certain other operational requirements to participate in the Aggregator. Parallel Funds may not have investment objectives and/or strategies that are identical to the investment objectives and strategies of BXINFRA U.S. or the Feeder. Parallel Funds are expected to invest directly, or indirectly through one or more intermediate entities, into the Aggregator. BXINFRA U.S., the Feeder, the Aggregator and any Parallel Funds collectively form “BXINFRA.” BXINFRA and BXINFRA Lux collectively form the “BXINFRA Fund Program,” but are operated as distinct investment structures. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA’s investment objective is to deliver attractive risk-adjusted returns consisting of both current income and long-term capital appreciation. BXINFRA seeks to meet its investment objectives by investing primarily in Infrastructure Investments, leveraging the talent and investment capabilities of Blackstone Inc.’s (“Blackstone”) infrastructure platform to create an attractive portfolio of alternative infrastructure investments. The Aggregator has the same investment objectives as BXINFRA U.S. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investment operations commenced on January 2, 2025 (the “Initial Closing Date”) when BXINFRA U.S. and the Feeder first sold unregistered limited partnership units to third-party investors and subsequently invested those proceeds into the Aggregator, which, in turn, began investment operations. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Blackstone Infrastructure Strategies Associates L.P., a Delaware limited partnership, is the general partner (the “General Partner”) of BXINFRA U.S., the Feeder and the Aggregator. Overall responsibility for oversight of BXINFRA U.S. and the entities that carry out its investment objectives rests with the General Partner, subject to certain oversight rights held by BXINFRA U.S.’s board of directors (the “Board of Directors” or “Board”). The General Partner has delegated BXINFRA U.S.’s portfolio management function to Blackstone Infrastructure Advisors L.L.C. (the “Investment Manager”). The Investment Manager has discretion to make investments on behalf of BXINFRA U.S. and is responsible for initiating, structuring and negotiating BXINFRA U.S.’s investments, as well as actively managing each investment to seek to maximize value. The Investment Manager and its affiliates also provide certain administrative services to BXINFRA U.S. The Investment Manager is a Delaware limited liability company and is registered with the United States Securities and Exchange Commission (the “SEC”) as an investment adviser under the Investment Advisers Act of 1940, as amended. The General Partner and the Investment Manager are individually and collectively referred to as the “Sponsor.” Both the General Partner and Investment Manager are subsidiaries of Blackstone. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
2024-08-13
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Summary of Significant Accounting Policies </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;"></div> <div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Basis of Presentation </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The accompanying consolidated financial statements of the Aggregator have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Aggregator is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 946, <div style="font-style: normal;display:inline;"><div style="font-style:italic;display:inline;">Financial Services—Investment Companies</div></div>, (“ASC 946”). Accordingly, the Aggregator reflects its investments on the Consolidated Statements of Assets and Liabilities at their fair value with unrealized gains and losses resulting from changes in fair value of its investments reflected in Net Change in Unrealized Gain (Loss) on Investments on the Consolidated Statements of Operations. Management believes it has made all necessary adjustments (consisting of only normal recurring items) so that the consolidated financial statements are presented fairly. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Use of Estimates </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of the fair value of investments and financial instruments at the date of the consolidated financial statements. Management believes that estimates made in preparing its financial statements are reasonable. Assumptions and estimates regarding the valuation of investments involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. Actual results may ultimately differ from those estimates. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Principles of Consolidation </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In accordance with ASC 946, the Aggregator generally does not consolidate its investment in a company unless the Aggregator has a controlling financial interest in (a) an investment company or (b) an operating company whose business consists of providing services to the Aggregator. Accordingly, the Aggregator consolidates wholly owned investment company subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair Value of Investments and Financial Instruments </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">ASC Topic 820, <div style="font-style: normal;display:inline;"><div style="font-style:italic;display:inline;">Fair Value Measurement</div></div> (“ASC 820”), establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace. Investments with readily available, actively quoted prices, or for which fair value can be measured from actively quoted prices, generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments measured and reported at fair value are classified and disclosed in one of the following categories: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
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<td style="width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">•</div></div></td>
<td style="width: 2%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Level I – Quoted prices are available in active markets for identical investments as of the reporting date. The type of investments included in Level I are publicly traded securities in an active market. The Aggregator does not adjust the quoted price for these investments (to the extent it holds them) even in situations where the Aggregator holds a large position and a sale could reasonably impact the quoted price. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear:both;max-height:0pt;"></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;">
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<td style="width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">•</div></div></td>
<td style="width: 2%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. The types of investments that would generally be included in this category include publicly traded securities with restrictions on disposition, certain convertible securities and certain <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">over-the-counter</div></div> derivatives where the fair value is based on observable inputs. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;"></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;">
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<td style="width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">•</div></div></td>
<td style="width: 2%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Level III – Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. Fair value for these investments is determined using valuation methodologies that consider a range <div style="display:inline;">of </div>factors, including, but not limited to, the price at which the investment was acquired, the nature of the investment, local market conditions, valuations for comparable companies, current and projected operating performance and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant judgment. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Investments that are included in this category generally are privately held debt, equity and certain convertible securities. </div></div></div> </td> </tr> </table><div style="clear:both;max-height:0pt;"></div> <div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Investment Manager’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments at Fair Value and Investments in Affiliated or Unaffiliated Investee Funds </div></div></div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Investments at Fair Value </div></div></div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator records public and private investments at trade date and closing date, respectively, and values its investments at fair value in accordance with ASC 820. Fair value is the amount that would be received to sell an asset or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. In the absence of observable market prices, the Aggregator’s investments are valued using valuation methodologies applied on a consistent basis as described below. Additional information regarding these investments is provided in Note 3. “Investments and Fair Value Measurement.” </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s determination of fair value is based on the best information available in the circumstances and incorporates the Aggregator’s own assumptions, including assumptions that the Aggregator believes market participants would use in valuing the investments, and involves a significant degree of judgment, taking into consideration a combination of internal and external factors, including appropriate risk adjustments for <div style="white-space: nowrap;display:inline;">non-performance</div> and liquidity. The values estimated by the Aggregator may differ significantly from values that would have been used had a readily available market for the investments existed and the differences could be material to the consolidated financial statements. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Under the income approach, which is generally the Aggregator’s primary valuation approach, fair value is determined by converting future amounts, such as cash flows or earnings, discounted to a single present amount using current market expectations about those future amounts. In determining fair value under this approach, the Aggregator makes assumptions over a projection period regarding unobservable inputs such as revenues, operating income, capital expenditures, income taxes, working capital needs and the terminal value and exit multiple of the investee company, among other things. The Aggregator discounts those projected cash flows by deriving a discount rate based on a capital structure similar to that of a market participant using observable inputs such as the rate of return available in the market on an investment free of default risk, an equity risk premium to reflect the additional risk of a market portfolio of equity instruments over risk-free instruments, beta as a measure of risk based on share price correlation to the market, and equity and <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">debt-to-capital</div></div> ratios of companies deemed comparable to the investee company. </div></div></div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div><div style="text-align: left;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Under the market approach, which is generally the Aggregator’s secondary valuation approach, fair value may be determined by reference to a recent transaction involving the investment or by reference to observable valuation measures for companies or assets that are determined by the Aggregator to be comparable, such as multiplying a key performance metric of the investee company, such as earnings before interest and taxes or other performance metric, by a relevant valuation multiple observed in the range of comparable companies or transactions, adjusted by the Aggregator for differences between the investment and the referenced comparables. Observable inputs used in the market approach to derive a valuation multiple may include the public prices for securities issued by, and the relevant performance metrics of, companies deemed comparable to the investee company, and/or transaction prices involving significant equity interests in companies deemed comparable to the investee company. Unobservable inputs used in the market approach may include the key performance metric of the investee company, such as earnings before interest, taxes, depreciation and amortization (“EBITDA”). </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments may also be valued at their acquisition price for a period of time after an acquisition as the best measure of fair value in the absence of any conditions or circumstances that would indicate otherwise. In the event of an announced sale of investments with a definitive agreement in place, investments may also be valued using a <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">discount-to-sale</div></div> approach as the primary method with emphasis given to certain considerations including, but not limited to unitholder approval, regulatory approval, financing, completion of due diligence and <div style="white-space: nowrap;display:inline;">break-up</div> fees. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in debt securities that are not listed on an exchange, but for which external pricing sources, such as dealer quotes or independent pricing services may be available, are valued by the Aggregator after considering, among other factors, such external pricing sources, recent trading activity or market transactions of similar securities adjusted for security-specific factors such as relative capital structure priority and interest and yield risks. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Derivative instruments are valued based on contractual cash flows and observable inputs generally comprising of yield curves and foreign currency rates. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Publicly traded investments in active markets are reported at the market closing price, less a discount, as appropriate, as determined by the Aggregator to reflect restrictions on disposition where such restrictions are an attribute of the investment. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Convertible preferred investments may be valued using an option pricing model based on the specific terms of the security, including, but not limited to, the publicly traded share price of the common shares or units in active markets as of the reporting date, <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">preferred-in-kind</div></div> dividend rate, relative yield and other adjustments to the common shares or units, as well as restrictions related to timing of conversion, as applicable, or actual trades of the convertible preferred investment. </div></div></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Investments in Affiliated or Unaffiliated Investee Funds </div></div></div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in Blackstone-affiliated investee funds (“Investments in Affiliated Investee Funds”) or unaffiliated investee funds are generally valued using the reported net asset value (“NAV” or “Net Asset Value”) of the investee funds as a practical expedient for fair value. If the Aggregator determines, based on its own due diligence, investment fair value policies and monitoring procedures, that NAV does not represent fair value or if the investee fund is not an investment company, such as a collateralized loan obligation (“CLO”) vehicle, the Aggregator will estimate the fair value of an investment in good faith and in a manner that it reasonably chooses, in accordance with its valuation policies. For certain Investments in Affiliated Investee Funds that are managed by the Investment Manager, investments held directly on such funds’ balance sheets may also be direct investments of BXINFRA. In these circumstances, the Aggregator and the affiliated investee fund shall apply <div style="display:inline;">a</div> consistent fair value methodology to value such investments, with the Aggregator applying a methodology as discussed under the Investments at Fair Value section above. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><br/></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Derivative Instruments </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes derivative <div style="display:inline;">instruments</div> as assets or liabilities at fair value in its Consolidated Statements of Assets and Liabilities as Derivative Assets at Fair Value and Derivative Liabilities at Fair Value, respectively. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes changes in fair value of derivative instruments in current period earnings. For derivative financial positions that are closed or that mature during a reporting period, the Aggregator recognizes realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it is closed. Realized gains and losses are presented net in Net Realized Gain (Loss) on Investments and Derivative Instruments on the Consolidated Statements of Operations. Changes in the value of contracts that remain outstanding as of period end are measured based on the difference between the unrealized balance as of the beginning of the reporting period and the unrealized balance as of the end of the reporting period, net of any reversals of previously recorded unrealized gains or losses once realized. Unrealized gains and losses are presented net in Net Change in Unrealized Gain (Loss) on Derivative Instruments on the Consolidated Statements of Operations. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator has elected to not offset derivative assets and liabilities in its Consolidated Statements of Assets and Liabilities, including cash, that may be received or paid as part of collateral arrangements, even when an enforceable master netting agreement is in place that provides the Aggregator, in the event of counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s other disclosures regarding derivative instruments are discussed in Note 4. “Derivative Instruments.” </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Repurchase Agreements </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Securities sold under agreements to repurchase (“repurchase agreements”) represent collateralized financing transactions. Such transactions are recorded as secured borrowings rather than sales as the Aggregator retains effective control of transferred assets through the term of a repurchase agreement. Secured borrowings are presented within Repurchase Agreements in the Consolidated Statements of Assets and Liabilities at their contractual amounts and include accrued interest. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may manage credit exposure arising from repurchase agreements by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide the Aggregator, in the event of a counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may also pledge its investments to counterparties to collateralize repurchase agreements. Investments pledged that can be repledged, delivered or otherwise used by the counterparty are recorded within Investments at Fair Value – Pledged to Counterparties in the Consolidated Statements of Assets and Liabilities. Investments which are not pledged to counterparties or which are pledged but cannot be repledged are recorded within Investments at Fair Value – Unpledged in the Consolidated Statements of Assets and Liabilities. The Aggregator does not offset assets and liabilities relating to reverse repurchase agreements and repurchase agreements in its Consolidated Statements of Assets and Liabilities. Additional disclosures relating to repurchase agreements are included in Note 5. “Repurchase Agreements.” </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; font-family: Calibri;display:inline;"> </div></div></div></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"></div></div></div></div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Cash and Cash Equivalents </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Cash and Cash Equivalents represents cash on hand, cash held in banks, money market funds, Treasury Bills and short-term, highly liquid investments with original maturities of three months or less. Interest income from Cash and Cash Equivalents is recorded in Interest Income in the Consolidated Statements of Operations. The Aggregator may have bank balances in excess of federally insured amounts; however, the Aggregator deposits its Cash and Cash Equivalents with high credit-quality institutions to minimize credit risk. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Performance Participation Allocation, Administration Fee and Management Fee Payables </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For more information regarding these payables reported on the Consolidated Statements of Assets and Liabilities, see Note 8. “Related Party Transactions.” </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Foreign Currency </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In the normal course of business, the Aggregator makes investments in <div style="white-space: nowrap;display:inline;">non-U.S.</div> dollar currency investments. <div style="white-space: nowrap;display:inline;">Non-U.S.</div> dollar denominated assets and liabilities are translated to U.S. dollars at the prevailing exchange rate at the reporting date and income, expenses, gains and losses are translated at the prevailing exchange rates at the respective transaction dates. Translation adjustments arising from the translation of <div style="white-space: nowrap;display:inline;">non-U.S.</div> dollar denominated assets and liabilities are recorded in Net Change in Unrealized Gain (Loss) on Translation of Assets and Liabilities in Foreign Currencies on the Consolidated Statements of Operations. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Net Realized and Unrealized Gain (Loss) on Investments </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes net realized gains (losses) on investments when earned at the time of receipt of proceeds. Without regard to unrealized gains or losses previously recognized, realized gains or losses will be measured as the difference between the net proceeds from the sale, repayment or disposal of an asset and the adjusted cost basis of the asset. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Change in Unrealized Gain (Loss) on Investments is the change in fair value of its underlying investments. Net change in unrealized gains or losses will reflect the change in investment values during the reporting period, including any reversal of previously recorded unrealized gains or losses when gains or losses are realized. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Income Recognition </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes interest income from investments when earned pursuant to the terms of the respective investment. The Aggregator recognizes dividend income from its investments when declared. In the case of proceeds received from investments, the Aggregator determines the character of such proceeds and records any interest income, dividend income, realized gain or loss, or return of capital accordingly. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Organizational and Offering Expenses </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Prior to the Initial Closing Date, <div style="display:inline;">organizational</div> and offering expenses were paid by the Investment Manager. After BXINFRA U.S. and the Feeder first accepted third-party investors and commenced investment operations, costs associated with the organization of BXINFRA were expensed. Costs associated with the offering of BXINFRA U.S. and the Feeder are capitalized as a deferred expense and included as an asset on the Consolidated Statements of Assets and Liabilities and amortized over a twelve-month period from January 2, 2025. Organization and offering expenses are borne by the Aggregator since the expenses benefit all investors that invest through BXINFRA U.S., the Feeder or any Parallel Fund. Organizational expenses are reported in Organizational Expenses and offering expenses are reported in Deferred Offering Costs Amortization on the Consolidated Statements of Operations. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Management Fees Offset and Waived </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager agreed to waive the Management Fee (as defined in Note 8. “Related Party Transactions”) for the first six months following the Initial Closing Date. The waived Management Fees are reported in Management Fees Waived on the Consolidated Statements of Operations. </div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As described in the Investment Management Agreement (as defined in Note 8. “Related Party Transactions”), the Management Fee shall be reduced (but not below zero) by an amount equal to the respective unitholder’s <div style="white-space: nowrap;display:inline;">pro-rata</div> share of 100% of the net <div style="white-space: nowrap;display:inline;">break-up,</div> topping, commitment, transaction, monitoring, directors’, organization and divestment fees and management and performance fees borne by BXINFRA through secondary market purchases of existing investments in established investment funds, vehicles, accounts, products and/or other similar arrangements sponsored, advised, and/or managed by Blackstone or its affiliates (“Other Blackstone Accounts”), paid to the Investment Manager or its affiliates in connection with BXINFRA’s investments. These fees, when recognized, are presented as Management Fees Waived. Refer to Note 8. “Related Party Transactions” for more information. </div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Expense Support </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager voluntarily agreed to pay certain expenses on behalf of BXINFRA such that the total expenses borne by BXINFRA (excluding interest expense, organization and offering expenses, servicing fees, the Performance Participation Allocation (as defined in Note 8. “Related Party Transactions”) and taxes) do not exceed a certain threshold. The amount of expenses the Investment Manager has agreed to pay pursuant to this arrangement is reported in Expense Support on the Consolidated Statements of Operations. Refer to Note 8. “Related Party Transactions” for more information. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Income Taxes </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator is treated as a partnership for U.S. federal and state income tax purposes and is not directly subject to U.S. federal and state income taxes. It is possible that the Aggregator may be considered a publicly traded partnership and not meet the qualifying income exception in certain years. In such a scenario, the Aggregator would be treated as a publicly traded partnership taxed as a corporation, rather than a partnership. The investors in the Aggregator would be treated as shareholders in a corporation, and the Aggregator itself would become taxable as a corporation for U.S. federal, state and/or local income tax purposes. The Aggregator would be required to pay income tax at corporate rates on its net taxable income. Additionally, the Aggregator owns a controlling interest in several subsidiaries that are treated as corporations for U.S. and <div style="white-space: nowrap;display:inline;">non-U.S.</div> tax purposes (“Aggregator Corporations”) which are subject to U.S. federal, state and/or local income taxes. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">To the extent investments made by the <div style="white-space: nowrap;display:inline;">non-U.S.</div> subsidiaries are engaged in a U.S. trade or business, the subsidiaries will generally be subject to a U.S. federal corporate income tax of 21% of its share of taxable income effectively connected with the conduct of a U.S. trade or business and may be subject to additional branch profits tax of 30% of its share of effectively connected earnings and profits, adjusted as provided by law. The subsidiaries may also be subject to state and local taxes. Federal and state income taxes are expected to be withheld at the source of the U.S. trade or business and taxes withheld can be used as a credit against the income tax liability of the subsidiaries.</div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Taxes </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">GAAP requires the asset and liability method of accounting for income taxes. Under this method, deferred taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Valuation allowances are established where the Aggregator determines it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Aggregator assesses all available positive and negative evidence, including the amount and character of future taxable income. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Calibri;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Uncertain Tax Positions </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes uncertain tax positions when it is more likely than not that the position will be sustained by the taxing authorities, based on the technical merits of the positions. The tax positions that meet the <div style="white-space: nowrap;display:inline;">more-likely-than-not</div> threshold are recognized based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Aggregator reevaluates its tax positions each period in which new information becomes available. The Aggregator’s policy is to recognize tax related interest and penalties, if applicable, as a component of the Provision for Taxes on the Consolidated Statements of Operations. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may declare quarterly distributions on Aggregator Units (as defined in Note 7. “Net Assets”) as authorized by the General Partner. The declaration of distributions by the Aggregator to BXINFRA U.S. and any Parallel Fund generally occur concurrent with BXINFRA U.S. and any Parallel Fund declaring distributions to its unitholders. Distributions to unitholders are recognized on the record date of the distribution. For further detail on the quarterly distributions to be declared by BXINFRA U.S., see Note 5. “Net Assets” in the “Notes to Financial Statements” of BXINFRA U.S. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Affiliates </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The General Partner, Investment Manager, Blackstone Securities Partners L.P. (the “Dealer Manager”), BXINFRA U.S., the Feeder, Parallel Funds, BXINFRA Lux and <div style="display:inline;">O</div>ther Blackstone<div style="display:inline;"> Accounts </div>are affiliates of the Aggregator. </div></div></div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Basis of Presentation </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The accompanying consolidated financial statements of the Aggregator have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Aggregator is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 946, <div style="font-style: normal;display:inline;"><div style="font-style:italic;display:inline;">Financial Services—Investment Companies</div></div>, (“ASC 946”). Accordingly, the Aggregator reflects its investments on the Consolidated Statements of Assets and Liabilities at their fair value with unrealized gains and losses resulting from changes in fair value of its investments reflected in Net Change in Unrealized Gain (Loss) on Investments on the Consolidated Statements of Operations. Management believes it has made all necessary adjustments (consisting of only normal recurring items) so that the consolidated financial statements are presented fairly. </div></div></div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Use of Estimates </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of the fair value of investments and financial instruments at the date of the consolidated financial statements. Management believes that estimates made in preparing its financial statements are reasonable. Assumptions and estimates regarding the valuation of investments involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. Actual results may ultimately differ from those estimates. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Principles of Consolidation </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In accordance with ASC 946, the Aggregator generally does not consolidate its investment in a company unless the Aggregator has a controlling financial interest in (a) an investment company or (b) an operating company whose business consists of providing services to the Aggregator. Accordingly, the Aggregator consolidates wholly owned investment company subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair Value of Investments and Financial Instruments </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">ASC Topic 820, <div style="font-style: normal;display:inline;"><div style="font-style:italic;display:inline;">Fair Value Measurement</div></div> (“ASC 820”), establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace. Investments with readily available, actively quoted prices, or for which fair value can be measured from actively quoted prices, generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments measured and reported at fair value are classified and disclosed in one of the following categories: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">•</div></div></td>
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<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Level I – Quoted prices are available in active markets for identical investments as of the reporting date. The type of investments included in Level I are publicly traded securities in an active market. The Aggregator does not adjust the quoted price for these investments (to the extent it holds them) even in situations where the Aggregator holds a large position and a sale could reasonably impact the quoted price. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear:both;max-height:0pt;"></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">•</div></div></td>
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<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. The types of investments that would generally be included in this category include publicly traded securities with restrictions on disposition, certain convertible securities and certain <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">over-the-counter</div></div> derivatives where the fair value is based on observable inputs. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;"></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">•</div></div></td>
<td style="width: 2%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Level III – Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. Fair value for these investments is determined using valuation methodologies that consider a range <div style="display:inline;">of </div>factors, including, but not limited to, the price at which the investment was acquired, the nature of the investment, local market conditions, valuations for comparable companies, current and projected operating performance and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant judgment. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Investments that are included in this category generally are privately held debt, equity and certain convertible securities. </div></div></div> </td> </tr> </table><div style="clear:both;max-height:0pt;"></div> <div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Investment Manager’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments at Fair Value and Investments in Affiliated or Unaffiliated Investee Funds </div></div></div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Investments at Fair Value </div></div></div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator records public and private investments at trade date and closing date, respectively, and values its investments at fair value in accordance with ASC 820. Fair value is the amount that would be received to sell an asset or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. In the absence of observable market prices, the Aggregator’s investments are valued using valuation methodologies applied on a consistent basis as described below. Additional information regarding these investments is provided in Note 3. “Investments and Fair Value Measurement.” </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s determination of fair value is based on the best information available in the circumstances and incorporates the Aggregator’s own assumptions, including assumptions that the Aggregator believes market participants would use in valuing the investments, and involves a significant degree of judgment, taking into consideration a combination of internal and external factors, including appropriate risk adjustments for <div style="white-space: nowrap;display:inline;">non-performance</div> and liquidity. The values estimated by the Aggregator may differ significantly from values that would have been used had a readily available market for the investments existed and the differences could be material to the consolidated financial statements. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Under the income approach, which is generally the Aggregator’s primary valuation approach, fair value is determined by converting future amounts, such as cash flows or earnings, discounted to a single present amount using current market expectations about those future amounts. In determining fair value under this approach, the Aggregator makes assumptions over a projection period regarding unobservable inputs such as revenues, operating income, capital expenditures, income taxes, working capital needs and the terminal value and exit multiple of the investee company, among other things. The Aggregator discounts those projected cash flows by deriving a discount rate based on a capital structure similar to that of a market participant using observable inputs such as the rate of return available in the market on an investment free of default risk, an equity risk premium to reflect the additional risk of a market portfolio of equity instruments over risk-free instruments, beta as a measure of risk based on share price correlation to the market, and equity and <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">debt-to-capital</div></div> ratios of companies deemed comparable to the investee company. </div></div></div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div><div style="text-align: left;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Under the market approach, which is generally the Aggregator’s secondary valuation approach, fair value may be determined by reference to a recent transaction involving the investment or by reference to observable valuation measures for companies or assets that are determined by the Aggregator to be comparable, such as multiplying a key performance metric of the investee company, such as earnings before interest and taxes or other performance metric, by a relevant valuation multiple observed in the range of comparable companies or transactions, adjusted by the Aggregator for differences between the investment and the referenced comparables. Observable inputs used in the market approach to derive a valuation multiple may include the public prices for securities issued by, and the relevant performance metrics of, companies deemed comparable to the investee company, and/or transaction prices involving significant equity interests in companies deemed comparable to the investee company. Unobservable inputs used in the market approach may include the key performance metric of the investee company, such as earnings before interest, taxes, depreciation and amortization (“EBITDA”). </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments may also be valued at their acquisition price for a period of time after an acquisition as the best measure of fair value in the absence of any conditions or circumstances that would indicate otherwise. In the event of an announced sale of investments with a definitive agreement in place, investments may also be valued using a <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">discount-to-sale</div></div> approach as the primary method with emphasis given to certain considerations including, but not limited to unitholder approval, regulatory approval, financing, completion of due diligence and <div style="white-space: nowrap;display:inline;">break-up</div> fees. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in debt securities that are not listed on an exchange, but for which external pricing sources, such as dealer quotes or independent pricing services may be available, are valued by the Aggregator after considering, among other factors, such external pricing sources, recent trading activity or market transactions of similar securities adjusted for security-specific factors such as relative capital structure priority and interest and yield risks. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Derivative instruments are valued based on contractual cash flows and observable inputs generally comprising of yield curves and foreign currency rates. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Publicly traded investments in active markets are reported at the market closing price, less a discount, as appropriate, as determined by the Aggregator to reflect restrictions on disposition where such restrictions are an attribute of the investment. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Convertible preferred investments may be valued using an option pricing model based on the specific terms of the security, including, but not limited to, the publicly traded share price of the common shares or units in active markets as of the reporting date, <div style="white-space: nowrap;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">preferred-in-kind</div></div> dividend rate, relative yield and other adjustments to the common shares or units, as well as restrictions related to timing of conversion, as applicable, or actual trades of the convertible preferred investment. </div></div></div>
<div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Investments in Affiliated or Unaffiliated Investee Funds </div></div></div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in Blackstone-affiliated investee funds (“Investments in Affiliated Investee Funds”) or unaffiliated investee funds are generally valued using the reported net asset value (“NAV” or “Net Asset Value”) of the investee funds as a practical expedient for fair value. If the Aggregator determines, based on its own due diligence, investment fair value policies and monitoring procedures, that NAV does not represent fair value or if the investee fund is not an investment company, such as a collateralized loan obligation (“CLO”) vehicle, the Aggregator will estimate the fair value of an investment in good faith and in a manner that it reasonably chooses, in accordance with its valuation policies. For certain Investments in Affiliated Investee Funds that are managed by the Investment Manager, investments held directly on such funds’ balance sheets may also be direct investments of BXINFRA. In these circumstances, the Aggregator and the affiliated investee fund shall apply <div style="display:inline;">a</div> consistent fair value methodology to value such investments, with the Aggregator applying a methodology as discussed under the Investments at Fair Value section above. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Derivative Instruments </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes derivative <div style="display:inline;">instruments</div> as assets or liabilities at fair value in its Consolidated Statements of Assets and Liabilities as Derivative Assets at Fair Value and Derivative Liabilities at Fair Value, respectively. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes changes in fair value of derivative instruments in current period earnings. For derivative financial positions that are closed or that mature during a reporting period, the Aggregator recognizes realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it is closed. Realized gains and losses are presented net in Net Realized Gain (Loss) on Investments and Derivative Instruments on the Consolidated Statements of Operations. Changes in the value of contracts that remain outstanding as of period end are measured based on the difference between the unrealized balance as of the beginning of the reporting period and the unrealized balance as of the end of the reporting period, net of any reversals of previously recorded unrealized gains or losses once realized. Unrealized gains and losses are presented net in Net Change in Unrealized Gain (Loss) on Derivative Instruments on the Consolidated Statements of Operations. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator has elected to not offset derivative assets and liabilities in its Consolidated Statements of Assets and Liabilities, including cash, that may be received or paid as part of collateral arrangements, even when an enforceable master netting agreement is in place that provides the Aggregator, in the event of counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s other disclosures regarding derivative instruments are discussed in Note 4. “Derivative Instruments.” </div></div></div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Repurchase Agreements </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Securities sold under agreements to repurchase (“repurchase agreements”) represent collateralized financing transactions. Such transactions are recorded as secured borrowings rather than sales as the Aggregator retains effective control of transferred assets through the term of a repurchase agreement. Secured borrowings are presented within Repurchase Agreements in the Consolidated Statements of Assets and Liabilities at their contractual amounts and include accrued interest. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may manage credit exposure arising from repurchase agreements by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide the Aggregator, in the event of a counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may also pledge its investments to counterparties to collateralize repurchase agreements. Investments pledged that can be repledged, delivered or otherwise used by the counterparty are recorded within Investments at Fair Value – Pledged to Counterparties in the Consolidated Statements of Assets and Liabilities. Investments which are not pledged to counterparties or which are pledged but cannot be repledged are recorded within Investments at Fair Value – Unpledged in the Consolidated Statements of Assets and Liabilities. The Aggregator does not offset assets and liabilities relating to reverse repurchase agreements and repurchase agreements in its Consolidated Statements of Assets and Liabilities. Additional disclosures relating to repurchase agreements are included in Note 5. “Repurchase Agreements.” </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Cash and Cash Equivalents </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Cash and Cash Equivalents represents cash on hand, cash held in banks, money market funds, Treasury Bills and short-term, highly liquid investments with original maturities of three months or less. Interest income from Cash and Cash Equivalents is recorded in Interest Income in the Consolidated Statements of Operations. The Aggregator may have bank balances in excess of federally insured amounts; however, the Aggregator deposits its Cash and Cash Equivalents with high credit-quality institutions to minimize credit risk. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Performance Participation Allocation, Administration Fee and Management Fee Payables </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For more information regarding these payables reported on the Consolidated Statements of Assets and Liabilities, see Note 8. “Related Party Transactions.” </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Foreign Currency </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In the normal course of business, the Aggregator makes investments in <div style="white-space: nowrap;display:inline;">non-U.S.</div> dollar currency investments. <div style="white-space: nowrap;display:inline;">Non-U.S.</div> dollar denominated assets and liabilities are translated to U.S. dollars at the prevailing exchange rate at the reporting date and income, expenses, gains and losses are translated at the prevailing exchange rates at the respective transaction dates. Translation adjustments arising from the translation of <div style="white-space: nowrap;display:inline;">non-U.S.</div> dollar denominated assets and liabilities are recorded in Net Change in Unrealized Gain (Loss) on Translation of Assets and Liabilities in Foreign Currencies on the Consolidated Statements of Operations. </div></div></div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Net Realized and Unrealized Gain (Loss) on Investments </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes net realized gains (losses) on investments when earned at the time of receipt of proceeds. Without regard to unrealized gains or losses previously recognized, realized gains or losses will be measured as the difference between the net proceeds from the sale, repayment or disposal of an asset and the adjusted cost basis of the asset. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Change in Unrealized Gain (Loss) on Investments is the change in fair value of its underlying investments. Net change in unrealized gains or losses will reflect the change in investment values during the reporting period, including any reversal of previously recorded unrealized gains or losses when gains or losses are realized. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Income Recognition </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes interest income from investments when earned pursuant to the terms of the respective investment. The Aggregator recognizes dividend income from its investments when declared. In the case of proceeds received from investments, the Aggregator determines the character of such proceeds and records any interest income, dividend income, realized gain or loss, or return of capital accordingly. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Organizational and Offering Expenses </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Prior to the Initial Closing Date, <div style="display:inline;">organizational</div> and offering expenses were paid by the Investment Manager. After BXINFRA U.S. and the Feeder first accepted third-party investors and commenced investment operations, costs associated with the organization of BXINFRA were expensed. Costs associated with the offering of BXINFRA U.S. and the Feeder are capitalized as a deferred expense and included as an asset on the Consolidated Statements of Assets and Liabilities and amortized over a twelve-month period from January 2, 2025. Organization and offering expenses are borne by the Aggregator since the expenses benefit all investors that invest through BXINFRA U.S., the Feeder or any Parallel Fund. Organizational expenses are reported in Organizational Expenses and offering expenses are reported in Deferred Offering Costs Amortization on the Consolidated Statements of Operations. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Management Fees Offset and Waived </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager agreed to waive the Management Fee (as defined in Note 8. “Related Party Transactions”) for the first six months following the Initial Closing Date. The waived Management Fees are reported in Management Fees Waived on the Consolidated Statements of Operations. </div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As described in the Investment Management Agreement (as defined in Note 8. “Related Party Transactions”), the Management Fee shall be reduced (but not below zero) by an amount equal to the respective unitholder’s <div style="white-space: nowrap;display:inline;">pro-rata</div> share of 100% of the net <div style="white-space: nowrap;display:inline;">break-up,</div> topping, commitment, transaction, monitoring, directors’, organization and divestment fees and management and performance fees borne by BXINFRA through secondary market purchases of existing investments in established investment funds, vehicles, accounts, products and/or other similar arrangements sponsored, advised, and/or managed by Blackstone or its affiliates (“Other Blackstone Accounts”), paid to the Investment Manager or its affiliates in connection with BXINFRA’s investments. These fees, when recognized, are presented as Management Fees Waived. Refer to Note 8. “Related Party Transactions” for more information. </div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Expense Support </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager voluntarily agreed to pay certain expenses on behalf of BXINFRA such that the total expenses borne by BXINFRA (excluding interest expense, organization and offering expenses, servicing fees, the Performance Participation Allocation (as defined in Note 8. “Related Party Transactions”) and taxes) do not exceed a certain threshold. The amount of expenses the Investment Manager has agreed to pay pursuant to this arrangement is reported in Expense Support on the Consolidated Statements of Operations. Refer to Note 8. “Related Party Transactions” for more information. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Income Taxes </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator is treated as a partnership for U.S. federal and state income tax purposes and is not directly subject to U.S. federal and state income taxes. It is possible that the Aggregator may be considered a publicly traded partnership and not meet the qualifying income exception in certain years. In such a scenario, the Aggregator would be treated as a publicly traded partnership taxed as a corporation, rather than a partnership. The investors in the Aggregator would be treated as shareholders in a corporation, and the Aggregator itself would become taxable as a corporation for U.S. federal, state and/or local income tax purposes. The Aggregator would be required to pay income tax at corporate rates on its net taxable income. Additionally, the Aggregator owns a controlling interest in several subsidiaries that are treated as corporations for U.S. and <div style="white-space: nowrap;display:inline;">non-U.S.</div> tax purposes (“Aggregator Corporations”) which are subject to U.S. federal, state and/or local income taxes. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">To the extent investments made by the <div style="white-space: nowrap;display:inline;">non-U.S.</div> subsidiaries are engaged in a U.S. trade or business, the subsidiaries will generally be subject to a U.S. federal corporate income tax of 21% of its share of taxable income effectively connected with the conduct of a U.S. trade or business and may be subject to additional branch profits tax of 30% of its share of effectively connected earnings and profits, adjusted as provided by law. The subsidiaries may also be subject to state and local taxes. Federal and state income taxes are expected to be withheld at the source of the U.S. trade or business and taxes withheld can be used as a credit against the income tax liability of the subsidiaries.</div></div></div>
<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Taxes </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">GAAP requires the asset and liability method of accounting for income taxes. Under this method, deferred taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Valuation allowances are established where the Aggregator determines it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Aggregator assesses all available positive and negative evidence, including the amount and character of future taxable income. </div></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div>
<div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Uncertain Tax Positions </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator recognizes uncertain tax positions when it is more likely than not that the position will be sustained by the taxing authorities, based on the technical merits of the positions. The tax positions that meet the <div style="white-space: nowrap;display:inline;">more-likely-than-not</div> threshold are recognized based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Aggregator reevaluates its tax positions each period in which new information becomes available. The Aggregator’s policy is to recognize tax related interest and penalties, if applicable, as a component of the Provision for Taxes on the Consolidated Statements of Operations. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may declare quarterly distributions on Aggregator Units (as defined in Note 7. “Net Assets”) as authorized by the General Partner. The declaration of distributions by the Aggregator to BXINFRA U.S. and any Parallel Fund generally occur concurrent with BXINFRA U.S. and any Parallel Fund declaring distributions to its unitholders. Distributions to unitholders are recognized on the record date of the distribution. For further detail on the quarterly distributions to be declared by BXINFRA U.S., see Note 5. “Net Assets” in the “Notes to Financial Statements” of BXINFRA U.S. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Affiliates </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The General Partner, Investment Manager, Blackstone Securities Partners L.P. (the “Dealer Manager”), BXINFRA U.S., the Feeder, Parallel Funds, BXINFRA Lux and <div style="display:inline;">O</div>ther Blackstone<div style="display:inline;"> Accounts </div>are affiliates of the Aggregator. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">3.</div></div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Investments and Fair Value Measurement </div></div></div></td></tr></table> <div style="clear: both; max-height: 0px;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table summarizes the valuation of the Aggregator’s investments by the fair value hierarchy levels. The Aggregator had not commenced investing activities as of December 31, 2024. </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
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<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="19" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025</div></div></div></div></td></tr>
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<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level I</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level II</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level III</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">NAV</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td></tr>
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<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
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<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td></tr>
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<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Cash and Cash Equivalents</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">64,744</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">64,744</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Investments</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Equity Investments</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">31,285</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,041,413</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,072,698</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Debt Investments</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Infrastructure</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">491,358</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">698,531</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Liquids</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">468,363</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">468,363</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Debt Investments</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">959,721</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,166,894</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Total Investments</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">991,006</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,248,586</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,239,592</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr>
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in Affiliated</div></div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investee Funds</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">18,866</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">55,268</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">776,568</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,777</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">920,479</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Derivative Assets</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">143</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">143</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">83,610</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,046,417</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,025,154</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,777</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,224,958</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Derivative Liabilities</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">265</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">265</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may hold equity securities that are subject to sale restrictions that are contractual or legal in nature and are deemed an attribute of the holder rather than the investment. Contractual restrictions may include, but are not limited to, (a) consent-rights or event-based transfer restrictions imposed by third parties, (b) underwriter <div style="white-space: nowrap;display:inline;">lock-ups</div> and (c) sale or transfer restrictions applicable to investments pledged as collateral. Restrictions will generally lapse over time or after <div style="display:inline;">a </div>predetermined date. As of December 31, 2025, there were no equity securities subject to sale restrictions within the Aggregator’s Level I and II assets. The Aggregator’s Level III equity securities are generally illiquid and privately negotiated in nature <div style="display:inline;">and </div>may also be subject to contractual sale or transfer restrictions including those pursuant to their respective governing or similar agreements. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table summarizes the quantitative inputs and assumptions used for valuation of investments categorized in Level III of the fair value hierarchy as of December 31, 2025: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;">
<tr>
<td style="width: 44%;"></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Valuation<br/> Techniques</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Unobservable</div></div></div><br/><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Inputs</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Ranges</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Weighted-<br/> Average</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Impact to<br/> Valuation<br/> from an<br/> Increase<br/> in Input</div></div></div></div></td></tr>
<tr style="font-size: 10pt; break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Financial Assets</div></div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments</div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Equity Investments</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,041,413</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Discounted<br/> Cash Flows</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">WACC</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">8.7% - 11.9%</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">10.4<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Exit Capitalization<br/> Rate</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">6.1</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">%</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">6.1<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; padding: 0px; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Exit Multiple</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">11.5</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x - </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">20.4</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">17.7</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Higher</div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Transaction<br/> Price</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); text-align: center;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="-sec-ix-hidden:hidden156182086;display:inline;">Debt Investments - Infrastructure</div></div></div><div style="line-height: normal;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Third-Party<br/> Pricing</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-align: center;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Other</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); text-align: center;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Transaction<br/> Price</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-align: center;"></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Investments</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,248,586</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); text-align: center;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in Affiliated Investee Funds</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">776,568</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Discounted<br/> Cash Flows</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">WACC</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">5.4% - 21.4%</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">10.0<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Exit Capitalization<br/> Rate</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">4.6% - 7.2%</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">6.2<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Exit Multiple</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">11.5x - 24.7x</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">14.8</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Higher</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Other</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures:none;display:inline;">Discount to<br/>Escrow</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none;display:inline;">30.1%</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none;display:inline;">30.1%</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none;display:inline;">Higher</div></div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Transaction<br/> Price</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-align: center;"></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,025,154</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 19%;"></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td style="width: 80%;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Not applicable.</div></div></td></tr>
<tr style="font-size: 1pt;">
<td style="height: 1.5pt;"></td>
<td colspan="2" style="height: 1.5pt;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">WACC</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Weighted-Average Cost of Capital.</div></div></td></tr>
<tr style="font-size: 1pt;">
<td style="height: 1.5pt;"></td>
<td colspan="2" style="height: 1.5pt;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Exit Multiple</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Ranges include the last twelve months EBITDA multiples and the next twelve months forward EBITDA multiples.</div></div></td></tr>
<tr style="font-size: 1pt;">
<td style="height: 1.5pt;"></td>
<td colspan="2" style="height: 1.5pt;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Third-Party Pricing</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Third-Party Pricing is generally determined on the basis of unadjusted prices between market participants provided by reputable dealers <div style="display:inline;">or </div>pricing services.</div></div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: left;"><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"></div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following tables present changes in the fair value of investments for which Level III inputs were used to determine the fair value: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;">
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 66%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level III Financial Assets at Fair Value</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended December 31, 2025</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Debt</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Equity</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments -</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Infrastructure</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">in Affiliates</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Balance, Beginning of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Purchases</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,827,077</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">140,914</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">701,488</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,669,479</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Sales and Proceeds from Investments</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(11,176</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(3,510</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(13,981</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(28,667</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Transfer Out of Level III (a)</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="-sec-ix-hidden:hidden156182092;display:inline;">Change in Gain Included in Net Assets</div></div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">225,512</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,769</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">89,061</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">384,342</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 66%;"> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Balance, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,041,413</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">776,568</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,025,154</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 66%;"> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="-sec-ix-hidden:hidden156182093;display:inline;">Changes in Unrealized Gain (Loss) Included in Earnings Related to Financial Assets</div> Still Held at the Reporting Date</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">225,512</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,769</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">89,061</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">384,342</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 66%;"> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table> </div> </div> </div> </div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The transfers out of Level III financial assets were primarily due to a change of observability of inputs used in the valuations of such assets. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">NAV as a Practical Expedient </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The table below summarizes investments that estimate the fair value of an investment using NAV as a practical expedient. This includes investment information such as investment strategy, or industry, unfunded commitments (if applicable) and the fair value of the respective investment(s). As of December 31, 2025, a majority of these investments may not be redeemed at or within three months of the reporting date and certain investments may not be sold without a <div style="display:inline;">g</div>eneral <div style="display:inline;">p</div>artner’s consent. Certain investments cannot be redeemed and distributions received will be a result of income and/or sales of underlying assets of each investment; however, an estimate of the period of time over which the underlying assets are expected to be liquidated for such investments cannot be made. </div></div></div> </div> </div> <div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div></div> </div> <div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table summarizes investments that estimate the fair value of an investment using NAV as a practical expedient as of December 31, 2025. </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 76%; font-family: Calibri; font-size: 8pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 78%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"> <div style="font-family: Calibri; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">NAV as a Practical Expedient Investments</div></div></div></div></div> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Unfunded<br/>Commitment</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Investee Funds (a)</div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">355,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,777</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td> </td> </tr> </table> <div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"> <div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Affiliated Investee Funds included primarily invest in infrastructure assets. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> </div> </div>
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table summarizes the valuation of the Aggregator’s investments by the fair value hierarchy levels. The Aggregator had not commenced investing activities as of December 31, 2024. </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; text-indent: 0px;">
<tr>
<td style="width: 61%;"></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="19" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025</div></div></div></div></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level I</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level II</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level III</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">NAV</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td></tr>
<tr style="font-size: 10pt; break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Cash and Cash Equivalents</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">64,744</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">64,744</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Investments</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Equity Investments</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">31,285</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,041,413</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,072,698</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Debt Investments</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Infrastructure</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">491,358</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">698,531</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Liquids</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">468,363</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">468,363</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Debt Investments</div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">959,721</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,166,894</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Total Investments</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">991,006</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,248,586</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,239,592</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr>
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in Affiliated</div></div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investee Funds</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">18,866</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">55,268</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">776,568</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,777</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">920,479</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Derivative Assets</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">143</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">143</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">83,610</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,046,417</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,025,154</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,777</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">4,224,958</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Derivative Liabilities</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">265</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">265</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div>
64744000
0
0
0
64744000
0
31285000
2041413000
0
2072698000
0
491358000
207173000
0
698531000
0
468363000
0
0
468363000
0
959721000
207173000
0
1166894000
0
991006000
2248586000
0
3239592000
18866000
55268000
776568000
69777000
920479000
0
143000
0
0
143000
83610000
1046417000
3025154000
69777000
4224958000
0
265000
0
0
265000
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table summarizes the quantitative inputs and assumptions used for valuation of investments categorized in Level III of the fair value hierarchy as of December 31, 2025: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;">
<tr>
<td style="width: 44%;"></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Valuation<br/> Techniques</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Unobservable</div></div></div><br/><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Inputs</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Ranges</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Weighted-<br/> Average</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Impact to<br/> Valuation<br/> from an<br/> Increase<br/> in Input</div></div></div></div></td></tr>
<tr style="font-size: 10pt; break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Financial Assets</div></div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments</div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Equity Investments</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,041,413</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Discounted<br/> Cash Flows</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">WACC</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">8.7% - 11.9%</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">10.4<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Exit Capitalization<br/> Rate</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">6.1</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">%</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">6.1<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; padding: 0px; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Exit Multiple</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">11.5</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x - </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">20.4</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">17.7</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Higher</div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Transaction<br/> Price</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); text-align: center;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="-sec-ix-hidden:hidden156182086;display:inline;">Debt Investments - Infrastructure</div></div></div><div style="line-height: normal;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Third-Party<br/> Pricing</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-align: center;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Other</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); text-align: center;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Transaction<br/> Price</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-align: center;"></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Investments</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,248,586</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-align: center; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); text-align: center;"></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Investments in Affiliated Investee Funds</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">776,568</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Discounted<br/> Cash Flows</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">WACC</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">5.4% - 21.4%</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">10.0<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); padding: 0px;"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Exit Capitalization<br/> Rate</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">4.6% - 7.2%</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; text-align: center; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">6.2<div style="display:inline;">%</div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0); padding: 0px;"> </td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Lower</div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Exit Multiple</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">11.5x - 24.7x</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">14.8</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">x</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255); text-align: center;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Higher</div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Other</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures:none;display:inline;">Discount to<br/>Escrow</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none;display:inline;">30.1%</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none;display:inline;">30.1%</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none;display:inline;">Higher</div></div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Transaction<br/> Price</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-align: center;"></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,025,154</div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 19%;"></td>
<td style="width: 1%; vertical-align: bottom;"></td>
<td style="width: 80%;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">n/a</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Not applicable.</div></div></td></tr>
<tr style="font-size: 1pt;">
<td style="height: 1.5pt;"></td>
<td colspan="2" style="height: 1.5pt;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">WACC</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Weighted-Average Cost of Capital.</div></div></td></tr>
<tr style="font-size: 1pt;">
<td style="height: 1.5pt;"></td>
<td colspan="2" style="height: 1.5pt;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Exit Multiple</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Ranges include the last twelve months EBITDA multiples and the next twelve months forward EBITDA multiples.</div></div></td></tr>
<tr style="font-size: 1pt;">
<td style="height: 1.5pt;"></td>
<td colspan="2" style="height: 1.5pt;"></td></tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Third-Party Pricing</div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Third-Party Pricing is generally determined on the basis of unadjusted prices between market participants provided by reputable dealers <div style="display:inline;">or </div>pricing services.</div></div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div>
2041413000
Discounted Cash Flows
WACC
0.087
0.119
0.104
Lower
Exit Capitalization Rate
0.061
0.061
Lower
Exit Multiple
0.115
0.204
0.177
Higher
Transaction Price
207173000
Third-Party Pricing
Other
Transaction Price
2248586000
776568000
Discounted Cash Flows
WACC
0.054
0.214
0.10
Lower
Exit Capitalization Rate
0.046
0.072
0.062
Lower
Exit Multiple
0.115
0.247
0.148
Higher
Other
Discount toEscrow
0.301
0.301
Higher
Transaction Price
3025154000
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following tables present changes in the fair value of investments for which Level III inputs were used to determine the fair value: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 66%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Level III Financial Assets at Fair Value</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended December 31, 2025</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Debt</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Equity</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments -</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Infrastructure</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">in Affiliates</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Balance, Beginning of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Purchases</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,827,077</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">140,914</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">701,488</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,669,479</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Sales and Proceeds from Investments</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(11,176</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(3,510</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(13,981</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(28,667</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Transfer Out of Level III (a)</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="-sec-ix-hidden:hidden156182092;display:inline;">Change in Gain Included in Net Assets</div></div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">225,512</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,769</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">89,061</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">384,342</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 66%;"> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Balance, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2,041,413</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">207,173</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">776,568</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3,025,154</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 66%;"> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 66%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="-sec-ix-hidden:hidden156182093;display:inline;">Changes in Unrealized Gain (Loss) Included in Earnings Related to Financial Assets</div> Still Held at the Reporting Date</div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">225,512</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,769</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">89,061</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; width: 1%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">384,342</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; width: 66%;"> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; width: 1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The transfers out of Level III financial assets were primarily due to a change of observability of inputs used in the valuations of such assets. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="clear: both; max-height: 0px;"></div>
0
0
0
0
1827077000
140914000
701488000
2669479000
-11176000
-3510000
-13981000
-28667000
0
0
0
0
225512000
69769000
89061000
384342000
2041413000
207173000
776568000
3025154000
225512000
69769000
89061000
384342000
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table summarizes investments that estimate the fair value of an investment using NAV as a practical expedient as of December 31, 2025. </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 76%; font-family: Calibri; font-size: 8pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 78%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"> <div style="font-family: Calibri; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">NAV as a Practical Expedient Investments</div></div></div></div></div> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Unfunded<br/>Commitment</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Investee Funds (a)</div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">355,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">69,777</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td> </td> </tr> </table> <div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Affiliated Investee Funds included primarily invest in infrastructure assets. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
355000000
69777000
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">4.</div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Derivative Instruments </div></div></div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In the normal course of business, the Aggregator may enter into derivative contracts to achieve certain risk management objectives. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may enter into derivative instruments to hedge against foreign currency exchange rate risk on a portion or all of its <div style="white-space: nowrap;display:inline;">non-U.S.</div> dollar denominated investments. These instruments primarily include (a) forward currency contracts and (b) foreign currency swaps. The Aggregator utilizes forward currency contracts and foreign currency swaps, collectively referred to as foreign exchange contracts, to economically hedge the currency exposure associated with certain foreign-denominated investments. These derivative contracts are not designated as hedging instruments for accounting purposes. The use of foreign exchange contracts does not eliminate fluctuations in the price of the underlying investments recognized by the Aggregator. Additionally, the Aggregator may enter into derivative instruments to hedge against other risks in its investments, including commodity price risk and equity price risk. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As a result of the use of derivative contracts, the Aggregator is exposed to the risk that counterparties will fail to fulfill their contractual obligations. To mitigate such counterparty risk, the Aggregator enters into contracts with certain major financial institutions, all of which have investment grade ratings. Counterparty credit risk is evaluated in determining the fair value of derivative instruments. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The table below summarizes the aggregate notional amount and fair value of the derivative instruments. The notional amount represents the absolute value amount of the foreign exchange contracts in thousands: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
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<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
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<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2024</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Liabilities</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Liabilities</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Derivative Instruments</div></div></div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts (GBP)</div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">70,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">14</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">125,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">234</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts (EUR)</div></div> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">32,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">129</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">20,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">31</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">143</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">265</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The table below summarizes the impact to the Consolidated Statements of Operations from derivative instruments: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:96%;border-spacing:0">
<tr>
<td style="width:79%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;white-space:nowrap;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="-sec-ix-hidden:hidden156182094;display:inline;">Derivative Instruments</div></div></div></div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Realized Gain (Loss)</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(10,735</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Change in Unrealized Gain (Loss)</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(122</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(10,857</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr> </table> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2025 and December 31, 2024, the Aggregator had not designated any derivatives as fair value, cash flow or net investment hedges <div style="display:inline;">for </div>accounting purposes. </div></div></div>
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The table below summarizes the aggregate notional amount and fair value of the derivative instruments. The notional amount represents the absolute value amount of the foreign exchange contracts in thousands: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 55%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="15" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2024</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Liabilities</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="7" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Liabilities</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Notional</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Fair<br/>Value</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Derivative Instruments</div></div></div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts (GBP)</div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">70,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">14</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">125,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">234</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">£</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts (EUR)</div></div> </td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">32,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">129</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">20,000</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">31</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Times New Roman;display:inline;">€</div></div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">143</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">265</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table>
70000000
14000
125000000
234000
0
0
0
0
32000000
129000
20000000
31000
0
0
0
0
143000
265000
0
0
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The table below summarizes the impact to the Consolidated Statements of Operations from derivative instruments: </div></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:96%;border-spacing:0">
<tr>
<td style="width:79%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;white-space:nowrap;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="-sec-ix-hidden:hidden156182094;display:inline;">Derivative Instruments</div></div></div></div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Realized Gain (Loss)</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(10,735</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Change in Unrealized Gain (Loss)</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign Currency Contracts</div></div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(122</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(10,857</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td>
<td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr> </table>
-10735000
0
-122000
0
-10857000
0
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">5.</div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Repurchase Agreements </div></div></div> </td> </tr> </table> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2025, the Aggregator held investments pledged as collateral with a carrying value of $72.0 million. As of December 31, 2024, the Aggregator had no repurchase agreements and hence held no investments pledged as collateral for repurchase agreements. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table presents information regarding the Aggregator’s repurchase agreement obligations: </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 94%; font-family: Calibri; font-size: 8pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 75%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="19" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="19" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Remaining Contractual Maturity of the<br/>Agreements</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Overnight</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Greater</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">and</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Up to</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">30 - 90</div></div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">than</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Continuous</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">30 Days</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Days</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">90 days</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Repurchase Agreements</div></div></div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td colspan="9" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Debt Investments (a)</div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 94%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 79%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 16%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"> December 31, 2025 </div></div></div></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Gross and Net Amount of Recognized Liabilities for Repurchase Agreements</div></div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"> </td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Amounts Subject to an Enforceable Master Netting Arrangement</div></div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"> </td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div> <div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Represents collateral type. </div></div></div> </td> </tr> </table>
72000000
0
0
<div style="text-align: center;"> <div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;">
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 94%; font-family: Calibri; font-size: 8pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 75%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="19" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="19" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Remaining Contractual Maturity of the<br/>Agreements</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Overnight</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Greater</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">and</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Up to</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">30 - 90</div></div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">than</div></div></div></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Continuous</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">30 Days</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Days</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">90 days</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Repurchase Agreements</div></div></div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td colspan="9" style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Debt Investments (a)</div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table> </div> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Represents collateral type. </div></div></div> </td> </tr> </table>
0
0
0
58005000
58005000
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 94%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 79%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 16%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"> December 31, 2025 </div></div></div></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Gross and Net Amount of Recognized Liabilities for Repurchase Agreements</div></div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"> </td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Amounts Subject to an Enforceable Master Netting Arrangement</div></div></div> </td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">58,005</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"> </td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> </tr> </table>
58005000
58005000
<div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">6.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Borrowings </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Brentwood Credit Facility </div></div></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On March 3, 2025, BXINFRA Brentwood Funding LCS L.L.C. and BXINFRA Brentwood Funding ICP L.L.C. (together, the “Brentwood Borrowers” and each, a “Brentwood Borrower”), each as a consolidated wholly owned subsidiary <div style="display:inline;">of </div>the Aggregator that holds broadly syndicated loans, entered into a senior secured revolving credit agreement (the “Brentwood Credit Facility”) pursuant to which the lenders thereunder agreed to provide loans for an aggregate principal amount not to exceed $</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">300.0 </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">million, subject to customary conditions. The Brentwood Credit Facility contains customary representations and warranties. The obligations of the Brentwood Borrowers under the Brentwood Credit Facility have limited recourse and are secured by a first priority security interest in all of the Brentwood Borrowers’ portfolio investments and cash. Under the Brentwood Credit Facility, the Brentwood Borrowers will bear customary expenses for a credit facility of this size and type, including closing fees, arrangement fees, administration fees, and commitment fees. The parties to the Brentwood Credit Facility include the Brentwood Borrowers, BXINFRA ICP L.L.C. and BXINFRA LCS L.L.C. as <div style="white-space: nowrap;display:inline;">co-collateral</div> managers, a third-party administrative agent (in such capacity, the “Brentwood Administrative Agent”), also serving as sole lead arranger, and the other third-party lenders as identified in the Brentwood Credit Facility. The period in which the Brentwood Borrowers may make borrowings under the Brentwood Credit Facility expires on March 3, 2028, and the Brentwood Credit Facility matures on</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> March 5, 2029. Upon an event of default, the Brentwood Administrative Agent may also terminate its commitment. </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Under the Brentwood Credit Facility, advances bear interest at a per annum rate equal to the benchmark for the currency of the applicable advance (which, for U.S. dollar advances, at the election of the Brentwood Borrowers, <div style="display:inline;">is </div>the </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">one-month</div> or three-month term Secured Overnight Financing Rate (“SOFR”) or the “base rate” (as defined in the Brentwood Credit Facility)), plus an applicable margin of 1.35% per annum. From and after March 3, 2028, the applicable margin for advances will increase by </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.30</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% per annum.</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> The Aggregator may voluntarily prepay any loans upon notice to the Brentwood Administrative Agent without a premium or penalty, subject to certain conditions.</div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Brentwood Credit Facility is subject to a commitment fee that is generally calculated based on two components, the First Unused Amount and Second Unused Amount (as defined below) which are multiplied by a 1.00% and 0.30% commitment fee rate, respectively. The “First Unused Amount” is zero for the first three months the Brentwood Credit Facility is outstanding; thereafter, the amount is generally equal to a varying percentage of the unused aggregate commitment amount, less total borrowings outstanding. The “Second Unused Amount” means an amount equal to the aggregate commitment less total borrowings outstanding less the First Unused Amount. As of December 31, 2025, the Aggregator had no balance outstanding under the Brentwood Credit Facility. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Jutland Credit Facility </div></div></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; text-indent: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On October 9, 2025, BXINFRA Jutland Funding ICP L.L.C. (the “Jutland Borrower”), a consolidated wholly owned subsidiary of the Aggregator, entered into a senior secured revolving credit agreement (the “Jutland Credit Facility”) pursuant to which the lender thereunder agreed to provide loans for an aggregate commitment amount not to exceed </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$150.0 </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">million, subject to customary conditions. The Jutland Credit Facility contains customary representations and warranties. The obligations of the Jutland Borrower under the Jutland Credit Facility have limited recourse and are secured by a first priority security interest in the assets of the Jutland Borrowers. Under the Jutland Credit Facility, the Jutland Borrower will bear customary expenses for a credit facility of this size and type, including unused commitment fees, average utilization fees and prepayment premiums. </div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The parties to the Jutland Credit Facility include the Jutland Borrower, BXINFRA ICP L.L.C. as portfolio manager, a third-party collateral agent and collateral administrator, and another third-party lender, also serving as administrative agent (the “Jutland Administrative Agent”), as identified in the Jutland Credit Facility. The period in which the Jutland Borrower may make borrowings under the Jutland Credit Facility expires on October 9, 2028, and the Jutland Credit Facility matures on October 9, 2029. Upon an event of default, the Jutland Administrative Agent may also terminate its commitment. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">Under the Jutland Credit Facility, borrowings denominated in U.S. dollars will bear interest at a rate of the three-month SOFR plus an applicable margin of 1.45% per annum. The Aggregator may voluntarily prepay any loans upon notice to the Jutland Administrative Agent, without a premium or penalty, subject to certain conditions. The Jutland Credit Facility is subject to a commitment fee that accrues at 0.45% per annum on the average daily unused aggregate commitment above a Minimum Utilization Percentage (defined below). If during any quarter, the aggregate outstanding principal amount of advances divided by the aggregate commitments (the “Average Utilization”), is less than (<div style="display:inline;">a</div>) for the period from October 9, 2025 to and including February 9, 2026,</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> 40.00</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">%, (<div style="display:inline;">b</div>) for the period from February 10, 2026 to and including April 9, 2026,</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> 50.00% and (<div style="display:inline;">c</div>) thereafter, 65.00</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">% (the “Minimum Utilization Percentage”), the Aggregator shall also pay an average utilization fee (the “Average Utilization Fee”). The Average Utilization Fee is calculated as </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">1.45</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">%, multiplied by the Minimum Utilization Percentage minus the Average Utilization, multiplied by the aggregate commitment. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2025, the Aggregator had $70.0 million outstanding under the Jutland Credit Facility. The carrying value of amounts outstanding under the Jutland Credit Facility approximates fair value and this facility would be classified as Level III within the fair value hierarchy. As of December 31, 2025, the effective interest rate on borrowings outstanding was 5.15%.</div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="text-align: left;"> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div> </div> <div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Aggregator Credit Agreement </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On January 26, 2026, the Aggregator entered into a revolving credit agreement (the “Aggregator Credit Agreement”) pursuant to which multiple third-party lenders and letter of credit issuers thereunder agreed to provide loans and letters of credit for up to an aggregate initial commitment of $400.0 million, subject to customary conditions. The available capacity under the Aggregator Credit Agreement may be increased on a permanent or a temporary basis up to an amount agreed by the Joint Lead Arrangers (as defined below) and the increasing lenders, provided that the Aggregator may not incur new loans or letters of credit in excess of the applicable loan to value ratio of </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">22.5</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">%, where value equals the sum of the adjusted net asset values of eligible investments and certain other items (as specified in the Aggregator Credit Agreement). </div></div></div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">The parties to the Aggregator Credit Agreement include the Aggregator, as borrower, a third-party administrative agent (in such capacity, the “Aggregator Administrative Agent”), third-party joint lead arrangers (in such capacities, the “Joint Lead Arrangers”), and certain other lenders and the letter of credit issuers as identified in the Aggregator Credit Agreement. The Aggregator Credit Agreement matures on January 26, 2028</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, subject to a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">one-year</div> extension option requiring approval by the Aggregator Administrative Agent and extending lenders and the satisfaction of customary conditions. </div></div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">Under the Aggregator Credit Agreement, borrowings denominated in U.S. dollars will bear interest, at the Aggregator’s discretion, at a rate of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">(a) one-month</div> term SOFR plus a spread of 3.00</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% per annum, (b) daily simple SOFR plus a spread of </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.00</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% per annum, or (c) base rate (as defined in the Aggregator Credit Agreement) plus a spread of </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.00</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">%. Such rates may be increased by up to </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.50</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% per annum during a continuing event of default and/or a cash sweep event. The Aggregator Credit Agreement is subject to a commitment fee that is generally based on (a) the total facility commitments, less total borrowings outstanding, multiplied by (b) the commitment fee rate. The unused commitment fee per annum rate varies from </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.45</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% to </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.65</div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% and is dependent on the total borrowings outstanding. Under the Aggregator Credit Agreement, the Aggregator will bear customary expenses for a credit facility of this size and type, including closing fees, arrangement fees, administration fees and unused commitment fees. </div></div></div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-align: center;"><div style="text-align: left; margin-right: auto; margin-left: auto; max-width: 100%;"><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator Credit Agreement contains customary representations and warranties, events of default, cash sweep events and affirmative and negative covenants. The Aggregator’s obligations under the Aggregator Credit Agreement are <div style="white-space: nowrap;display:inline;">non-recourse</div> to BXINFRA U.S. and secured by the Aggregator’s distributions received from investments and the equity interest in certain of its subsidiaries. Upon an event of default, the lenders of the Aggregator Credit Agreement may also terminate their commitment. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">As of December 31, 2025, the Aggregator had </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">no borrowings or amounts outstanding as the Aggregator had not yet entered into the Aggregator Credit Agreement. </div></div></div></div></div>
300000000
2029-03-05
one-month or three-month term Secured Overnight Financing Rate (“SOFR”) or the “base rate” (as defined in the Brentwood Credit Facility)), plus an applicable margin of 1.35% per annum. From and after March 3, 2028, the applicable margin for advances will increase by 0.30% per annum.
0.003
0.01
0.003
The “First Unused Amount” is zero for the first three months the Brentwood Credit Facility is outstanding; thereafter, the amount is generally equal to a varying percentage of the unused aggregate commitment amount, less total borrowings outstanding.
The “Second Unused Amount” means an amount equal to the aggregate commitment less total borrowings outstanding less the First Unused Amount.
0
150000000
2029-10-09
0.0145
0.0045
0.40
0.50
0.65
0.0145
70000000
0.0515
0.225
2028-01-26
0.03
0.03
0.02
0.025
0.0045
0.0065
0
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">7.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Net Assets </div></div></div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator, at the direction of the General Partner, has the authority to issue an unlimited number of Class A Units and Class B Units (each, an “Aggregator Unit”). No Class B Units have been issued by the Aggregator since inception. As of December 31, 2025, the Aggregator has two limited partners, BXINFRA U.S. and a Parallel Fund. Class A Units are issued to both the BXINFRA U.S. limited partner and the Parallel Fund limited partner. BXINFRA U.S. and the Parallel Fund receive monthly subscriptions from their investors, which are in turn invested into the Aggregator. BXINFRA U.S. and the Parallel Fund are issued Class A Units in exchange for their contributions to the Aggregator. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The term “Transactional NAV” refers to the price at which transactions in the Aggregator’s Units are made, calculated in accordance with a valuation policy that has been approved by the BXINFRA U.S. Board of Directors. The purchase price per Aggregator Unit of each limited partner is equal to the Transactional NAV per Aggregator Unit for such limited partner as of the last calendar day of the immediately preceding month. Before the Aggregator determined its first Transactional NAV, the initial purchase price for the Aggregator’s Units was $25.00 per Aggregator Unit. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s Transactional NAV was first determined as of the end of the first full month after the Initial Closing Date. Thereafter, the Transactional NAV is based on the <div style="white-space: nowrap;display:inline;">month-end</div> values of investments, the addition of the value of any other assets such as cash, the deduction of any liabilities, the accrual and allocation of the Management Fee, Administration Fee and the Performance Participation Allocation (each as defined in Note 8. “Related Party Transactions”) and the deduction of expenses. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Aggregator Unit issuances related to monthly contributions are effective the first calendar day of each month. Aggregator Units are issued at a price per Aggregator Unit equivalent to the Aggregator’s most recent Transactional NAV per Aggregator Unit available for Class A Units, which is the Aggregator’s prior <div style="white-space: nowrap;display:inline;">month-end</div> Transactional NAV per Aggregator Unit. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table presents transactions in the Aggregator’s Units during the periods: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 84%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 75%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class A</div></div></div><br/><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of August 13, 2024 (Inception) and December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr>
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px; margin-left: 1em; line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Units Issued</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">137,387,610</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">137,387,610</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Distributions Reinvested</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,232,937</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,232,937</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Redemption of Units</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(69,256</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(69,256</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2025</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">138,551,291</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">138,551,291</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr></table><div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In accordance with the Aggregator Partnership Agreement, the General Partner can cause the Aggregator to redeem Aggregator Units from limited partners to match any redemptions made by BXINFRA U.S. and any Parallel Fund. Any redemption of Aggregator Units will be effected by the Aggregator as needed to comply with the redemption plan of BXINFRA U.S. and any Parallel Fund and otherwise as determined by the General Partner. A Parallel Fund may withdraw entirely from the Aggregator and have all of its Aggregator Units redeemed by the Aggregator only with the consent of BXINFRA U.S., including, if applicable, approval by the Board of Directors. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may declare quarterly distributions on Aggregator Units as authorized by the General Partner. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following tables present a summary of the aggregate distributions declared and payable for the year ended December 31, 2025 for each applicable class of Units. </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; text-indent: 0px;">
<tr>
<td style="width: 54%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions Per Unit</div></div></div></div></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; text-wrap-mode: nowrap; padding-bottom: 0.5pt;"><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Declaration Date</div></div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Record Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Payment Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class A Units</div></div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">April 29, 2025</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">March 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (a)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">May 2, 2025</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0962</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">July 29, 2025</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">June 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">August 1, 2025</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2000</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">October 22, 2025</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">September 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">November 3, 2025</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2000</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">January 28, 2026</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">December 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">February 4, 2026</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2200</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.7162</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr></table><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record immediately following the close of business. </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record as of the open of business. </div></div></div></td></tr></table><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: left;"><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Distribution Reinvestment Plan </div></div></div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">When a cash distribution is declared, each Aggregator unitholder that has not “opted out” of the Distribution Reinvestment Plan (“DRIP”) prior to the payment date will have their distributions automatically reinvested in additional Aggregator Units rather than receive cash distributions, for a purchase price equal to the most recently available Transactional NAV per Aggregator Unit for such Aggregator Unit. For further details on the DRIP, see Note 5. “Net Assets” in the “Notes to Financial Statements” of BXINFRA U.S. </div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For the year ended December 31, 2025, $</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">32.2 million of distributions were reinvested in Class A Units. </div></div></div>
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table presents transactions in the Aggregator’s Units during the periods: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 84%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 75%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class A</div></div></div><br/><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Units</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of August 13, 2024 (Inception) and December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr>
<td style="vertical-align: top;"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px; margin-left: 1em; line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2024</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">—</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Units Issued</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">137,387,610</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">137,387,610</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Distributions Reinvested</div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,232,937</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1,232,937</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: "Times New Roman"; font-size: 10pt; break-inside: avoid;">
<td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Redemption of Units</div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(69,256</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(69,256</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgb(204, 238, 255);"></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding as of December 31, 2025</div></div></div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">138,551,291</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">138,551,291</div></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom; font-family: "Times New Roman"; background-color: rgba(255, 255, 255, 0);"></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="background-color: rgba(255, 255, 255, 0);"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr></table>
0
0
0
0
137387610
137387610
1232937
1232937
69256
69256
138551291
138551291
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following tables present a summary of the aggregate distributions declared and payable for the year ended December 31, 2025 for each applicable class of Units. </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; text-indent: 0px;">
<tr>
<td style="width: 54%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Distributions Per Unit</div></div></div></div></td></tr>
<tr style="font-size: 8pt; break-inside: avoid;">
<td style="vertical-align: bottom; text-wrap-mode: nowrap; padding-bottom: 0.5pt;"><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Declaration Date</div></div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Record Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Payment Date</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class A Units</div></div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">April 29, 2025</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">March 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (a)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">May 2, 2025</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.0962</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">July 29, 2025</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">June 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">August 1, 2025</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2000</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">October 22, 2025</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">September 30, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">November 3, 2025</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2000</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">January 28, 2026</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">December 31, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> (b)</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: center; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">February 4, 2026</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.2200</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.7162</div></td>
<td style="vertical-align: bottom; text-wrap-mode: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"> </td>
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<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
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<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td>
<td style="vertical-align: bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td></tr></table><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record immediately following the close of business. </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
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<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">To unitholders of record as of the open of business. </div></div></div></td></tr></table>
2025-04-29
2025-03-31
2025-05-02
0.0962
2025-07-29
2025-06-30
2025-08-01
0.2
2025-10-22
2025-09-30
2025-11-03
0.2
2026-01-28
2025-12-31
2026-02-04
0.22
0.7162
32200000
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">8.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Related Party Transactions </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="clear:both;max-height:0pt;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Partnership Agreement </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator has entered into the Aggregator Partnership Agreement with the General Partner. Under the terms of the Aggregator Partnership Agreement, overall responsibility for the Aggregator rests with the General Partner. The General Partner has delegated BXINFRA’s portfolio management function to the Investment Manager on January 2, 2025. </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Performance Participation Allocation </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-size: 10pt; text-indent: 4%; letter-spacing: 0px; top: 0px;display:inline;">The General Partner receives a performance participation allocation (“Performance Participation Allocation”) by BXINFRA U.S. (indirectly through the Aggregator) equal to </div><div style="font-size: 10pt; text-indent: 4%; letter-spacing: 0px; top: 0px;display:inline;">12.5</div><div style="font-size: 10pt; text-indent: 4%; letter-spacing: 0px; top: 0px;display:inline;">% of total return subject to a </div><div style="font-size: 10pt; text-indent: 4%; letter-spacing: 0px; top: 0px;display:inline;">5</div><div style="font-size: 10pt; text-indent: 4%; letter-spacing: 0px; top: 0px;display:inline;">% annual hurdle amount and a high water mark with </div><div style="font-size: 10pt; text-indent: 4%; letter-spacing: 0px; top: 0px;display:inline;">100</div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">% </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap;display:inline;">catch-up.</div> Such allocation is measured on a calendar year basis, paid quarterly, accrued monthly (subject to <div style="white-space: nowrap;display:inline;">pro-rating</div> for partial periods), and without taking into account accrued and unpaid taxes of any Intermediate Entity through which BXINFRA indirectly invests in an investment or taxes paid by any such Intermediate Entity during the applicable month. For the first calendar year of BXINFRA’s operations, the allocation was payable annually, after the end of such first calendar year, and thereafter, the allocation will be payable quarterly. The General Partner may elect to receive the Performance Participation Allocation in cash, the Aggregator’s, BXINFRA U.S.’s, the Feeder’s, or the Parallel Fund’s units and/or equity of intermediate entities. If the Performance Participation Allocation is paid in units, such units may be redeemed at the General Partner’s request and will be subject to certain limitations. </div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div></div><div style="font-family: "Times New Roman"; font-size: 10pt; text-indent: 4%; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">For the year ended December 31, 2025, the Aggregator accrued Performance Participation Allocation of $47.4 million. The Aggregator had no accrued Performance Participation Allocation for the year ended December 31, 2024. The amount of unrealized Performance Participation Allocation accrued is as if BXINFRA had been liquidated at its net asset value at that date and at that time, if any, will be paid or realized to the General Partner. The unrealized Performance Participation Allocation is subject to the future performance of BXINFRA throughout the Performance Participation Allocation period of each limited partner. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investment Management Agreement </div></div></div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On January 2, 2025, BXINFRA U.S. entered into an investment management agreement with the Investment Manager (as may be further amended and restated from time to time, the “Investment Management Agreement”). As part of carrying out its investment management services (including structuring investments through the Aggregator), the Investment Manager has entered into, and may in the future enter into <div style="white-space: nowrap;display:inline;">sub-advisory,</div> or other similar arrangements, with other advisory subsidiaries of Blackstone. These <div style="white-space: nowrap;display:inline;">sub-advisory</div> relationships do not affect the terms of the Investment Management Agreement. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Management Fee </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In consideration for its investment management services, the Aggregator, on behalf of its limited partners, pays the Investment Manager a management fee (the “Management Fee”) equal to </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1.25</div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">of the Aggregator’s Transactional NAV per year, payable monthly, before giving effect to any accruals for the Management Fee, servicing fees, Administration Fee (as defined below), Performance Participation Allocation, pending Aggregator unit redemptions, distributions, if any, and without taking into account accrued and unpaid taxes of any Intermediate Entity through which the Aggregator indirectly invests in an investment or taxes paid by any such Intermediate Entity during the applicable month. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager may elect to receive the Management Fee in cash, the Aggregator’s, BXINFRA U.S.’s, the Feeder’s, or the Parallel Fund’s units and/or equity of intermediate entities. If the Management Fee is paid in units, such units may be redeemed at the Investment Manager’s request and will be subject to certain limitations. Additionally, the Investment Manager may separately elect for the Management Fee to be paid (in whole or in part) to an affiliate of the Investment Manager in satisfaction of Management Fee amounts owed to the Investment Manager in connection with services provided by such affiliate to BXINFRA and/or any intermediate entity. </div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager agreed to waive the Management Fee for the first six months following the Initial Closing Date. As of July 1, 2025, Management Fees may be offset by certain fees paid to the Investment Manager or its affiliates in connection with BXINFRA’s investments consistent with the Aggregator Partnership Agreement and the Investment Management Agreement. These fees, when recognized, are presented as Management Fees Waived. There were no such <div style="display:inline;">m</div>anagement fee offsets for the year ended December 31, 2025 and for the period from August 13, 2024 (inception) to December 31, 2024. Refer to Note 2, “Summary of Significant Accounting Policies” for more information on <div style="display:inline;">m</div>anagement fee waivers. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For the year ended December 31, 2025, the Aggregator accrued gross Management Fees of $</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">30.5 million, of which $10.7 million was waived by the Investment Manager for the year ended December 31, 2025. The Aggregator had no gross Management Fee during the year ended December 31, 2024. The waived Management Fees are reported in Management Fees Waived on the Consolidated Statements of Operations. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Administration Fee </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;">The Investment Manager and its affiliates provide administration services to BXINFRA, consistent with the Aggregator Partnership Agreement and Investment Management Agreement. In consideration for its administrative services, the Investment Manager is entitled to receive an administration fee (the “Administration Fee”) payable by the Aggregator, equal to, in the aggregate, </div>0.10<div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;">% of the Aggregator’s Transactional NAV per annum payable monthly, before giving effect to any accruals for the Management Fee, the servicing fee, Administration Fee and the Performance Participation Allocation, pending unit redemptions, distributions, if any, and without taking into account accrued and unpaid taxes of any intermediate entity through which BXINFRA indirectly invests in an investment or taxes paid by any such intermediate entity during the applicable month.</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">From time to time, the Investment Manager may outsource certain administrative duties provided to BXINFRA with respect to the Administration Fee to third parties. The fees, costs and expenses of any such third-party service providers will be payable by the Investment Manager out of its Administration Fee such that the Administration Fee should not exceed, in the aggregate, 0.10% of the Aggregator’s Transactional NAV. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">For the year ended December 31, 2025, the Aggregator accrued Administration Fees of $2.4 million. The Aggregator had no accrued Administration Fees during the year ended December 31, 2024.</div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: left;"> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div> </div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Investments in Affiliated Investee Funds </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">As of December 31, 2025, the Aggregator had Investments in Affiliated Investee Funds of $</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">920.5 million. The Aggregator had not commenced operations as of December 31, 2024. Refer to Note 2. “Summary of Significant Accounting Policies” for more information on Investments in Affiliated Investee Funds. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Expense Support </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">During the year ended December 31, 2025, the Investment Manager has voluntarily agreed to pay certain expenses on behalf of BXINFRA such that the total expenses borne by BXINFRA (excluding interest expense, organization and offering expenses, servicing fees, the Performance Participation Allocation and taxes) did not exceed an annualized rate of </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50% of BXINFRA’s NAV. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">For the year ended December 31, 2025, the Aggregator accrued Expense Support of $</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.7 </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">million, that was subsequently paid by the Investment Manager. No fees were charged to the Investment Manager for agreeing to bear these expenses and the Investment Manager will not be reimbursed by the Aggregator. There was</div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> no accrued Expense Support for the year ended December 31, 2024. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Due to/from Affiliates </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Due to Affiliates consists of cash advances made by Blackstone Holdings Finance Co. L.L.C., a subsidiary of Blackstone, on behalf of the Aggregator for the payment of fund and tax expenses. These amounts are intended to be cash reimbursed by the Aggregator and are <div style="white-space: nowrap;display:inline;">non-interest</div> bearing. Due from Affiliates is composed of balances owed to the Aggregator from other <div style="white-space: nowrap;display:inline;">non-consolidated</div> entities within BXINFRA. </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">BXINFRA Lux </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA invests alongside BXINFRA Lux, a European long-term investment fund available to individual investors primarily domiciled in countries of the European Economic Area, the United Kingdom, Switzerland, certain Asian jurisdictions or certain other jurisdictions. While BXINFRA and BXINFRA Lux have substantially similar investment objectives and strategies and are expected to have highly overlapping investment portfolios, BXINFRA and BXINFRA Lux are operated as distinct investment structures. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Related Party Transactions </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">BXINFRA may, from time to time, enter into transactions with certain affiliates. Such transactions are subject to oversight and, where required, approval by the independent directors of BXINFRA U.S. and are conducted accordance with the terms of BXINFRA U.S.’s limited partnership agreement and applicable policies and procedures. </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">During the year ended December 31, 2025, the Aggregator acquired Infrastructure Investments, Debt and Other Securities and future commitments to acquire Infrastructure Investments totaling up to<div style="display:inline;"> </div></div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">2.3 </div><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">billion </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">from Blackstone Holdings Finance Co. L.L.C., an affiliate of the Investment Manager, pursuant to the Amended and Restated Warehousing Agreement. For more information on the Amended and Restated Warehousing Agreement, see Note 9. “Warehousing Agreement” in the “Notes to Financial Statements” of BXINFRA U.S. </div></div></div> <div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">During the year ended December 31, 2025, the Aggregator extended credit to <div style="display:inline;">Other Blackstone Accounts and </div>portfolio companies controlled by BXINFRA<div style="display:inline;"> </div>in connection with five investments for an aggregate amount of<div style="display:inline;"> </div></div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">159.5 </div><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">million. The terms of the investments were negotiated by participating third-party investors and the Aggregator participated on the same terms as such third-party investors and Other Blackstone Accounts, if any. </div></div></div> <div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">A portion of BXINFRA’s portfolio consists of fund interests in Blackstone’s infrastructure funds, including capital commitments to such funds. During the year ended December 31, 2025, the Aggregator funded capital commitments to such funds for an aggregate amount of $589.2 million and received a cash distribution from one such fund for an aggregate amount of $22.0 million. </div></div></div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Additionally, the Investment Manager has delegated the portfolio management of BXINFRA’s Investments in Debt and Other Securities to other Blackstone investment managers (the <div style="white-space: nowrap;display:inline;">“Sub-Investment</div> Managers”) and, from time to time, the <div style="white-space: nowrap;display:inline;">Sub-Investment </div> Managers identify opportunities for cross transactions between BXINFRA and Other Blackstone Accounts. During the year ended December 31, 2025, the Aggregator participated in one cross-transaction with an Other Blackstone Account for an aggregate amount of<div style="display:inline;"> </div></div></div><div style="font-variant-ligatures: none; letter-spacing: 0px; font-size: 10pt; top: 0px;display:inline;">$</div>2.5<div style="font-variant-ligatures: none; letter-spacing: 0px; font-size: 10pt; top: 0px;display:inline;"> million.</div></div>
0.125
0.05
1
47400000
0
0.0125
30500000
10700000
0
0.001
0.001
2400000
0
920500000
0.005
700000
0
2300000000
159500000
589200000
22000000
2500000
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">9.</div></div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Commitments and Contingencies </div></div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Commitments </div></div></div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Investment Manager agreed to advance organizational and offering expenses, other than servicing fees, on BXINFRA’s behalf through the first anniversary of the Initial Closing Date (such first anniversary, the “Effective Date”). The Aggregator will reimburse the Investment Manager for all such advanced expenses ratably over the </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">60</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> months following the Effective Date. As of December 31</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, the Investment Manager and its affiliates have incurred organizational and offering expenses on BXINFRA’s behalf in the amount of $</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.6</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> million of which $</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.2</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> million relates to Organizational Expenses and was expensed as incurred and $<div style="letter-spacing: 0px; top: 0px;display:inline;">0.4</div> million relates to offering costs that are capitalized as a deferred expense and amortized over </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">12</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> months. For the year ended December 31</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, 2025</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, organizational and offering expenses totaled $</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.2</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> million and $</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.4</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> million, respectively, which are reported in Organizational Expenses and Deferred Offering Costs Amortization on the Consolidated Statements of Operations. For the year ended December 31</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, 2024</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">, the Aggregator had no</div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> organizational and offering expenses. </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As of </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">December 31, 2025, the Aggregator had unfunded commitments to existing investments of $581.1 million, of which $63.2 million is committed to other Blackstone funds, and had additional conditional commitments of $644.0 million to new investments, which excludes investment commitments of the BXINFRA Warehouse as it is not certain whether BXINFRA will ultimately acquire any such investments. Conditional commitments are subject to certain terms and conditions prior to closing of the relevant transactions and there can be no assurance that such transactions will close as expected or at all. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Contingencies </div></div></div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator may, from time to time, be party to various legal matters arising in the ordinary course of business, including claims and litigation proceedings. As of December 31, 2025, the Aggregator was not subject to any material litigation nor was the Aggregator aware of any material litigation threatened against it. </div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Indemnifications </div></div></div></div></div><div style="font-family: Calibri; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">In the normal course of business, the Aggregator enters into contracts that contain a variety of indemnification arrangements. The Aggregator’s exposure under these arrangements, if any, cannot be quantified. However, the Aggregator has not had any claims or losses pursuant to these indemnification arrangements and expects the potential for a material loss to be remote as of December 31, 2025. </div></div></div>
P60M
3600000
3200000
400000
P12M
3200000
400000
581100000
63200000
644000000
<div style="font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">10. Income Taxes </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s Provision for Taxes was $4.2 </div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">million for the year ended December 31, 2025, resulting in an effective tax rate of<div style="display:inline;"> </div></div></div>1.3<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">%. </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The primary driver of the 1.3% effective tax rate is that most of the income generated by the Aggregator is not effectively connected with a U.S. trade or business and is not subject to U.S. corporate income tax. </div></div></div> <div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">To the extent investments made by the Aggregator are engaged in a U.S. trade or business, the Aggregator will generally be subject to a U.S. federal income tax of 21.0% of its share of taxable income effectively connected with the conduct of a U.S. trade or business and may be subject to additional branch profits tax of 30.0% of <div style="display:inline;">its share of effectively connected earnings and profits, adjusted as provided by law. The subsidiaries may also be subject to state and local taxes.</div> </div></div><br/></div><div style="text-align: left;"> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div> </div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s Net <div style="display:inline;">Increase </div>in Net Assets Resulting from Operations Before Provision for Taxes consists of the following: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:8pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:81%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;white-space:nowrap;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Net Increase in Net Assets Resulting from Operations Before Provision for Taxes</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">United States</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">297,919</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">30,737</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">328,656</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table> <div style="clear: both; max-height: 0px;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s Provision for Taxes consists of the following: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:81%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Current</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Federal Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">1,030</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Current Provision for Tax</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">1,030</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Federal Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">2,759</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">406</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Deferred Provision for Tax</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Provision for Taxes</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">4,195</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table> <div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table reconciles the Aggregator’s effective income tax rate to the U.S. federal statutory tax rate: </div></div></div><div style="background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:8pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:83%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Statutory U.S. Federal Income Tax Rate</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">21.0</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Income Not Subject to Income Tax (a)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">-19.8</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Taxes (b)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">0.1</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Effective Income Tax Rate</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">1.3</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Income Not Subject to Income Tax generally refers to the Aggregator’s income that is not effectively connected with a U.S. trade or business nor subject to U.S. corporate income tax, which reduces its effective income tax rate. </div></div></div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Taxes refers to taxes imposed by individual states and local governments on income, property and sales. These taxes vary by jurisdiction and can significantly impact a corporation’s overall effective tax rate. </div></div></div></td></tr></table> <div style="clear: both; max-height: 0px; text-indent: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Significant components of the Aggregator’s current tax assets and liabilities were as follows: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:84%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Taxes Payable</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Taxes Payable</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">507</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Taxes Payable</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">507</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table> <div style="clear: both; max-height: 0px;"></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">A summary of the significant components of the Aggregator’s deferred tax assets and liabilities is as follows: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:83%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Tax Liabilities</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Outside Basis Difference in Underlying Partnership</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Deferred Tax Liabilities</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Tax Liabilities, Net</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div> <div style="clear: both; max-height: 0px;"></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator evaluates the realizability of its deferred tax asset on each balance sheet date and adjusts the valuation allowance when it is <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">more-likely-than-not</div> that all or a portion of the deferred tax asset may not be realized. The Aggregator assesses all available positive and negative evidence, including the amount and character of future taxable income. Based on its assessment, the Aggregator has concluded there was no valuation allowance required as of December 31, 2025.</div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;">As of December 31, 2025, the Aggregator had </div>no<div style="font-size: 10pt; letter-spacing: 0px; text-indent: 4%; top: 0px;display:inline;"> aggregate federal or state income tax net operating losses (“NOL”).</div></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Uncertain Tax Positions </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2025, the Aggregator is not aware of any uncertain tax positions that would require recognition in the consolidated financial statements. </div></div></div><div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">One Big Beautiful Bill Act </div></div></div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law in the U.S., introducing a broad range of tax reform provisions affecting businesses, including extending and modifying certain key provisions of the Tax Cuts & Jobs Act of 2017. In accordance with GAAP, the effects of the enacted tax law changes were recognized in the period of enactment. </div></div></div><div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The OBBBA did not change the U.S. federal corporate income tax rate. The Aggregator evaluated the provisions of the law and determined there was no remeasurement of the deferred tax assets and liabilities and that the OBBBA had no material impact to the Aggregator’s consolidated financial statements as of and for the year ended December 31, 2025.</div></div></div><div style="text-align: left;"><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Tax <div style="letter-spacing: 0px; top: 0px;display:inline;">Contingencies</div> </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Aggregator and the Aggregator Corporations are subject to examination by various taxing authorities. As 2025 is the initial tax year, it will be subject to examinations upon filing its 2025 tax returns. </div></div></div>
4200000
0.013
0.013
0.21
0.30
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s Net <div style="display:inline;">Increase </div>in Net Assets Resulting from Operations Before Provision for Taxes consists of the following: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:8pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:81%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;white-space:nowrap;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Net Increase in Net Assets Resulting from Operations Before Provision for Taxes</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">United States</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">297,919</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Foreign</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">30,737</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">328,656</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table>
297919000
0
30737000
0
328656000
0
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator’s Provision for Taxes consists of the following: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:81%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Current</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Federal Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">1,030</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Current Provision for Tax</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">1,030</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Federal Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">2,759</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Tax</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">406</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Deferred Provision for Tax</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Provision for Taxes</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">4,195</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table>
1030000
0
0
0
1030000
0
2759000
0
406000
0
3165000
0
4195000
0
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following table reconciles the Aggregator’s effective income tax rate to the U.S. federal statutory tax rate: </div></div></div><div style="background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:8pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:83%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">August 13, 2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">(Inception) to</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Statutory U.S. Federal Income Tax Rate</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">21.0</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Income Not Subject to Income Tax (a)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">-19.8</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Taxes (b)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">0.1</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Effective Income Tax Rate</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">1.3</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">% </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Income Not Subject to Income Tax generally refers to the Aggregator’s income that is not effectively connected with a U.S. trade or business nor subject to U.S. corporate income tax, which reduces its effective income tax rate. </div></div></div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></div></td>
<td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">State and Local Income Taxes refers to taxes imposed by individual states and local governments on income, property and sales. These taxes vary by jurisdiction and can significantly impact a corporation’s overall effective tax rate. </div></div></div></td></tr></table>
0.21
0
-0.198
0
0.001
0
0.013
0
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Significant components of the Aggregator’s current tax assets and liabilities were as follows: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:84%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Taxes Payable</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Taxes Payable</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">507</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Taxes Payable</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">507</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table>
507000
0
507000
0
<div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">A summary of the significant components of the Aggregator’s deferred tax assets and liabilities is as follows: </div></div></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Calibri; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:83%"></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>
<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td colspan="3" style="vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31,</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="3" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">2024</div></div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Tax Liabilities</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Outside Basis Difference in Underlying Partnership</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Total Deferred Tax Liabilities</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Calibri; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: Calibri; line-height: normal;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Deferred Tax Liabilities, Net</div></div></div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">3,165</div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="white-space:nowrap;vertical-align:bottom"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr>
<tr style="font-size:1px">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td>
<td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td></tr></table><div style="clear: both; max-height: 0px; text-indent: 0px;"></div>
3165000
0
3165000
0
3165000
0
0
0
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">11.</div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Financial Highlights </div></div></div> </td> </tr> </table> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following financial highlights are calculated for the limited partners as a whole. Calculation of these highlights on an individual limited partner basis may yield results that vary from those stated herein due to the timing of capital transactions and differing fee arrangements. No Class A Units were outstanding during the year ended December 31, 2024. No Class B Units have been issued by the Aggregator since inception. </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 68%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 77%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 18%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025 (a)</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class A Units</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Per Unit Data</div></div></div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, Beginning of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Proceeds from Units Issued</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.16</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Realized and Unrealized Gain (Loss) on Investments and Translation of Assets and Liabilities in Foreign Currencies</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.10</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Increase in Net Assets</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.27</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Distributions</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.72</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">27.55</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">138,551,291</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Return Based on Net Asset Value (b)</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">13.06</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Ratios to Weighted-Average Net Assets <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">(Non-Annualized)</div></div></div></div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Expenses without Waivers (c)</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.27</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Expenses and Management Fees Waivers (c)</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.47</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Accrued Performance Participation Allocation</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1.98</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Expenses</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.78</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.17</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Amounts may not add due to rounding. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Total return is calculated as the change in Net Asset Value per Aggregator Unit during the period, plus distributions per Aggregator Unit (assuming dividends and distributions are reinvested in accordance with the Aggregator’s distribution reinvestment plan) divided by the initial Net Asset Value per Aggregator Unit of $25.00. Total return does not include upfront transaction fees, if any. </div></div></div> </td> </tr> </table> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(c)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Expense ratio includes Management Fees, Organizational Expenses, Professional Fees, Interest Expense, Deferred Offering Costs Amortization, Administration Fees and Other. </div></div></div> </td> </tr> </table>
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The following financial highlights are calculated for the limited partners as a whole. Calculation of these highlights on an individual limited partner basis may yield results that vary from those stated herein due to the timing of capital transactions and differing fee arrangements. No Class A Units were outstanding during the year ended December 31, 2024. No Class B Units have been issued by the Aggregator since inception. </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="text-align: center; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 68%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 77%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 18%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Year Ended</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">December 31, 2025 (a)</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="3" style="text-align: center; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Class A Units</div></div></div></div></td> </tr>
<tr style="font-family: Calibri; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Per Unit Data</div></div></div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, Beginning of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">— </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Proceeds from Units Issued</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">25.00</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.16</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Realized and Unrealized Gain (Loss) on Investments and Translation of Assets and Liabilities in Foreign Currencies</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.10</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Increase in Net Assets</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.27</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Distributions</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(0.72</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Asset Value, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">$</div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">27.55</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Units Outstanding, End of Period</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">138,551,291</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Return Based on Net Asset Value (b)</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">13.06</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Ratios to Weighted-Average Net Assets <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">(Non-Annualized)</div></div></div></div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td>
<td style="vertical-align: bottom; font-family: "Times New Roman";"></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Expenses without Waivers (c)</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">2.27</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Expenses and Management Fees Waivers (c)</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">-0.47</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Accrued Performance Participation Allocation</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">1.98</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Total Expenses</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">3.78</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; width: 77%;"> <div style="text-indent: -1em; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Net Investment Income</div></div></div> </td>
<td style="vertical-align: bottom; width: 18%;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">0.17</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr>
<tr style="font-size: 1px;">
<td style="vertical-align: bottom;"> </td>
<td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td>
<td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> </tr> </table><div style="width: 18%; line-height: 8pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;text-indent: 0px;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0; font-variant-ligatures: none;text-indent: 0px;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">(a)</div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: Calibri; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">Amounts may not add due to rounding. </div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(b)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Total return is calculated as the change in Net Asset Value per Aggregator Unit during the period, plus distributions per Aggregator Unit (assuming dividends and distributions are reinvested in accordance with the Aggregator’s distribution reinvestment plan) divided by the initial Net Asset Value per Aggregator Unit of $25.00. Total return does not include upfront transaction fees, if any. </div></div></div> </td> </tr> </table> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">(c)</div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Expense ratio includes Management Fees, Organizational Expenses, Professional Fees, Interest Expense, Deferred Offering Costs Amortization, Administration Fees and Other. </div></div></div> </td> </tr> </table>
0
25
0.16
3.1
3.27
0.72
27.55
138551291
0.1306
0.0227
-0.0047
0.0198
0.0378
0.0017
25
<div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse; border-spacing: 0;">
<tr style="page-break-inside: avoid;">
<td style="width: 3%; text-align: left; vertical-align: top;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">12.</div></div></div></td>
<td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Subsequent Events </div></div></div> </td> </tr> </table> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="clear: both; max-height: 0px;"></div> <div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">The Aggregator has evaluated the impact of all subsequent events through March 6, 2026, which is the date that these consolidated financial statements were available to be issued, and except as noted below, has determined that there were no subsequent events requiring adjustment to, or disclosure in, the consolidated financial statements. </div></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Aggregator Credit Agreement </div></div></div></div></div> <div style="text-indent: 3%; font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;">On January 26, 2026, the Aggregator entered into a revolving credit agreement with third party lenders and letter of credit issuers. See Note 6. “Borrowings” for more information. </div></div></div> <div style="font-family: Calibri; font-size: 10pt; margin-top: 10pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Unit Redesignation<div style="display:inline;"> and Discontinuation</div> </div></div></div></div></div> <div style="margin-top:10pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:Calibri"><div style="font-variant-ligatures:none;display:inline;">As of March 6, 2026, the Aggregator redesignated its existing Class A Units as <div style="white-space:nowrap;display:inline;">Class I-Series</div> I Units, designated two new series of Class I Units, <div style="white-space:nowrap;display:inline;">Class I-Series</div> II Units and <div style="white-space:nowrap;display:inline;">Class I-Series</div> III Units and discontinued its Class B Units. These changes did not result in any adjustments to the consolidated financial statements. </div></div>
<div style="text-indent: 3%;font-family: "Times New Roman";font-size: 10pt;margin-top: 10pt;margin-bottom: 0pt;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Information regarding the Board of Directors and executive officers<div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> are set forth below as of March 6, 2026: </div></div></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div><br/></div>
<table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; width: 68%; font-family: Calibri; font-size: 10pt; border-collapse: collapse; border-spacing: 0;text-indent: 0px;">
<tr>
<td style="width: 39%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td>
<td style="width: 52%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr>
<tr style="font-family: Calibri; font-size: 8pt; page-break-inside: avoid;">
<td style="vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="font-family: Calibri; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Name</div></div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Age</div></div></div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="font-family: Calibri; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-variant-ligatures: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"><div style="font-weight:bolder;display:inline;">Position</div></div></div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Sean Klimczak</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">49</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Chairperson of the Board</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Gregory Blank</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">45</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Chief Executive Officer and Director</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Matthew Runkle</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">47</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">President and Head of Acquisitions</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Paul Schlaack</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">48</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Chief Operating Officer</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Christopher Striano</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">50</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Chief Financial Officer</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Kate O’Neil</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">34</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Chief Legal Officer</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Joan Solotar</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">61</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Director</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Grace Vandecruze</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">62</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Independent Director</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">John D. Hershey</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">64</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Independent Director</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Susan Roth Katzke</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">61</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Independent Director</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Andre J. Fernandez</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">57</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Independent Director</div></div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Owen J. Sullivan</div></div></div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="text-align: right; vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;">68</div></td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: bottom;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"> </div></td>
<td style="vertical-align: top; font-size: 10pt;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: Calibri; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Independent Director</div></div></div></td></tr></table>
true
true
true
true
true
true
true
true
true
true
true
true
Sean Klimczak
Chairperson of the Board
Gregory Blank
Chief Executive Officer and Director
Matthew Runkle
President and Head of Acquisitions
Paul Schlaack
Chief Operating Officer
Christopher Striano
Chief Financial Officer
Kate O’Neil
Chief Legal Officer
Joan Solotar
Director
Grace Vandecruze
Independent Director
John D. Hershey
Independent Director
Susan Roth Katzke
Independent Director
Andre J. Fernandez
Independent Director
Owen J. Sullivan
Independent Director
true
The transfers out of Level III financial assets were primarily due to a change of observability of inputs used in the valuations of such assets.
Equity Investments are generally considered equity interests, which includes different forms of interests and rights and obligations that represent ownership in an entity or the right to acquire or dispose of ownership in an entity, including but not limited to (1) common equity, (2) preferred equity, (3) limited partner interest (4) warrants and (5) other equity-linked securities.
Includes different forms of interests that represent a creditor relationship with an investee, including but not limited to (1) bank loans, (2) interests in CLOs and (3) direct lending debt investments.
There were no single investments included in this category that exceeded 5% of net assets of BXINFRA Aggregator (CYM) L.P., Blackstone Infrastructure Strategies L.P., Blackstone Infrastructure Strategies (TE) L.P. or a Parallel Fund (as defined below).
Investments are generally liquid in nature, are intended to be held for short durations and may be used to generate income, facilitate capital deployment or provide a potential source of liquidity. Industries may be diversified outside of infrastructure industries.
BXINFRA through its interest in Infrastructure Investments L.P. holds an interest in an investee also held by Poseidon Holdco I L.P. with BXINFRA’s proportionate fair value representing $37.1 million, or 1.0% of BXINFRA Net Assets and BXINFRA indirectly owns 32,214 shares in the investee.
BXINFRA through its interest in Infrastructure Investments L.P. holds an interest in Odyssey Holdco L.L.C. and Odyssey Holdco II L.L.C. BXINFRA’s proportionate fair value in the equity investment is $217.2 million, representing 5.7% of BXINFRA Net Assets and BXINFRA indirectly owns 719,237 shares in the investee.
BXINFRA through its interest in Infrastructure Investments L.P. also holds interests in Eucalyptus I HoldCo (CYM) L.P. with BXINFRA’s proportionate fair value representing $34.8 million, or 0.9% of BXINFRA Net Assets and BXINFRA indirectly owns 165,605,569,717 shares in the investee.
BXINFRA through its interest in Infrastructure Investments L.P. holds an interest in an investee also held by Mercury Co-Invest L.P. with BXINFRA’s proportionate fair value representing $89.0 million, or 2.3% of BXINFRA Net Assets and BXINFRA indirectly owns 131,326 shares in the investee.
Fund investments are diversified and are not categorized to one industry.
BXINFRA is indirectly exposed to portfolio companies owned by Infrastructure Investments L.P. The investments of Infrastructure Investments L.P. are within the following industries: Energy, Transportation and Digital which are 29.1%, 28.4% and 42.6% of the Infrastructure Investments L.P. vehicle’s investments, respectively.
Amounts may not add due to rounding.
Expense ratio includes Management Fees, Organizational Expenses, Professional Fees, Interest Expense, Deferred Offering Costs Amortization, Administration Fees and Other.
Total return is calculated as the change in Net Asset Value per Aggregator Unit during the period, plus distributions per Aggregator Unit (assuming dividends and distributions are reinvested in accordance with the Aggregator’s distribution reinvestment plan) divided by the initial Net Asset Value per Aggregator Unit of $25.00. Total return does not include upfront transaction fees, if any.
Expense ratio includes Management Fees, Organizational Expenses, Professional Fees, Deferred Offering Costs Amortization, Administration Fees and Other.
Total return is calculated as the change in Net Asset Value per Unit during the period, plus distributions per Unit (assuming dividends and distributions are reinvested in accordance with BXINFRA U.S.’s distribution reinvestment plan) divided by the initial Net Asset Value per Unit of $25.00. Total return does not include upfront transaction fees, if any.
The Affiliated Investee Funds included primarily invest in infrastructure assets.
Refer to Note 3. “Investment in the Aggregator” for details on BXINFRA U.S.’s proportional share of investments through investees.
The General Partner did not receive any Units for its contribution to BXINFRA U.S.
Income Not Subject to Income Tax generally refers to the Aggregator’s income that is not effectively connected with a U.S. trade or business nor subject to U.S. corporate income tax, which reduces its effective income tax rate.
State and Local Income Taxes refers to taxes imposed by individual states and local governments on income, property and sales. These taxes vary by jurisdiction and can significantly impact a corporation’s overall effective tax rate.
To unitholders of record as of the open of business.
To unitholders of record immediately following the close of business.