On May 27, 2026, the Company acquired a minority interest in Manning & Napier, Inc. (Manning & Napier). The investment of $53,050,419 in Manning & Napier was acquired by the Company through a combination of $39,639,750 cash and issued 1,438,913 common shares valued at $13,410,669 (non-cash consideration).

During the first quarter of 2026, the Company impaired an investment by $3,050,000 in one equity investment. During the second quarter of 2026, the Company received notification that the entity was sold to a third party. The Company has not adjusted the previous investment value as a result of this transaction. This impairment is recorded within Other income (expense), net in the consolidated statements of operations and comprehensive income.

During the first quarter of 2026, the Company recorded a $5,400,000 unrealized gain on one equity investment. The entity had a new capital raise during the period, increasing the underlying value of the investment. This capital raise was considered an orderly transaction in the same equity class as the initial investment, representing the intrinsic value in this investee’s business. The unrealized gain is recorded within Other income (expense), net in the consolidated statements of operations and comprehensive income.

During the first quarter of 2025, the Company acquired $3,000,000 convertible preferred stock and $5,000,000 of common stock in two separate unrelated entities, respectively. The investment of $5,000,000 in common stock was purchased by the Company issuing series A convertible preferred stock. Refer to Note 15, Convertible Preferred Stock and Stockholders’ Equity for further information.

The Company holds a variable interest in 2025 LMA LLC (the “Securitized Entity”). The Company’s interest is subordinate to the Securitized Entity’s obligations to the Noteholders and other third-party creditors of the Securitized Entity. Any distributions to the Company are permitted only after satisfaction of those senior obligations. The Company has no right to require a distribution or redemption at any specified time or in any specified amount. The Company’s does not have a requirement to make additional contributions to the Securitized Entity beyond its initial capital contribution of $8,699,569. Refer to Note 10, Consolidation of Variable Entities for additional information.

The Company applies the measurement alternative for its investments in the common stock and convertible preferred stock because these investments are of an equity nature, and the Company does not have the ability to exercise significant influence over operating and financial policies of entities even in the event of conversion of preferred stock. Under the measurement alternative, the Company records

the investment based on original cost, less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the investee. The Company’s share of income or loss of such companies is not included in the Company’s consolidated statements of operations and comprehensive income. The Company tests its investments for impairment whenever circumstances indicate that the carrying value of the investment may not be recoverable.