Basic earnings/(loss) per common share is determined by dividing net income/(loss) attributable to common shareholders by the weighted average number of common shares outstanding during the period. All classes of common shares are allocated income/(loss) at the same rate per share and receive the same gross distribution per share before class-specific fees and accruals/allocations. To the extent that class-specific fees and accruals/allocations are applicable they will be deducted to arrive at class specific net income/(loss) per share and net distribution rate per share.

For the year ended December 31, 2025, net earnings per common share is computed as below ($ in thousands, except per share data):


	Year Ended December 31, 2025
	Class B		Class R		Class J-1		Class J-2		Class J-4		Class S		Class I		Class E		Total
Net income	$	31,752	$	6,261	$	18,312	$	4,077	$	2,995	$	560	$	2,713	$	2,164	$	68,834
Weighted average number of common shares outstanding		21,059		4,144		12,720		2,847		2,453		457		2,215		1,279		47,174
Earnings per common share — basic and diluted	$	1.51	$	1.51	$	1.44	$	1.43	$	1.22	$	1.23	$	1.22	$	1.69	$	1.46

For the period from June 4, 2024 (Date of Formation) through December 31, 2024, net earnings (loss) per common share is computed as below ($ in thousands, except per share data):


	From June 4, 2024 (Date of Formation) through December 31, 2024
Net income	$	1,138
Weighted average number of common shares outstanding		4,557
Earnings per common share — basic and diluted	$	0.25