
	Maturity Date	June 30, 2026		December 31, 2025


Secured borrowing:
Senior Secured Credit Facility	December 10, 2030	148,125,000		148,875,000
Deferred issuance costs and discounts		(3,358,489)		(3,655,384)
Secured borrowing, at fair value:
LMA Income Series II, LP	June 30, 2027	38,293,580		114,890,540
Deferred issuance costs		—		(466,540)
Unsecured borrowing:
Fixed Rate Senior Unsecured Notes	November 15, 2028	135,379,475		135,379,475
Deferred issuance costs and discounts		(2,811,887)		(3,318,699)
Sponsor PIK Note	June 30, 2028	14,982,507		14,114,199
Total debt		330,610,186		405,818,591
Less current portion of long-term debt		(39,793,580)		(115,924,000)
Total long-term debt		$	290,816,606	$	289,894,591

The Company issued fixed rate senior unsecured notes (“Fixed Unsecured Notes”) between 2023 and 2025. The Fixed Unsecured Notes are based on a fixed interest rate of 9.875% to be paid in quarterly interest payments and mature on November 15, 2028. The Company has the option to redeem the Fixed Unsecured Notes in whole or in part at a price of 100% of the outstanding principal balance on or after February 15, 2027. The notes will be senior unsecured obligations of the Company and will rank equal in right of payment to all of the Company’s other senior unsecured indebtedness from time to time outstanding. As of June 30, 2026, the balance outstanding on the Fixed Unsecured Notes was $135,379,475.

On December 10, 2024, the Company entered into a Senior Secured Credit Facility (the “SSCF”) providing for a senior secured term loan and a delayed draw term loan facility. The SSCF provides an initial term loan with an aggregate principal amount of $100,000,000 and delayed draw term loans (“DDTL Facility”) with an aggregate principal amount of up to $50,000,000. The SSCF and DDTL Facility bear interest at a rate equal to term SOFR plus a fixed rate of 5.25% per year (subject to a stepdown upon achievement of specified leverage and EBITDA metrics) and mature on December 10, 2030, subject to quarterly amortization. The SSCF and DDLT Facility is secured by substantially all of the assets of the Company and certain of its wholly-owned subsidiaries that have guaranteed the obligations under the SSCF, which excludes the assets of LMA Income Series II, LP. As of June 30, 2026, the outstanding principal balance under the SSCF and DDTL Facility was $148,125,000.

The SSCF contains customary affirmative and negative covenants, including financial maintenance covenants requiring the Company to maintain, a maximum Secured Leverage Ratio, a minimum Consolidated Fixed Charge Coverage Ratio, and a minimum Asset Coverage Ratio, each measured quarterly. The SSCF also restricts the payment of dividends and distributions and the ability of the Company to incur certain indebtedness, make certain investments, and dispose of assets, in each case subject to exceptions. The Company was in compliance with the financial maintenance covenants under the SSCF.

On June 29, 2026, the Company entered into the first amendment to the SSCF (the “SSCF Amendment”) which resulted in additional principal of $75,000,000. The SSCF Amendment bears interest and matures consistent with the terms of the SSCF and DDTL Facility. The SSCF Amendment is secured by substantially all of the assets of the Company and certain of its wholly-owned subsidiaries that have guaranteed the obligations under the SSCF Amendment, which excludes the assets of LMA Income Series II, LP. As of June 30, 2026, the SSCF Amendment was not funded. Refer to Refer to Note 22, Subsequent Events for additional information.

On January 31, 2023, LMA Income Series II, GP, LLC, wholly owned and controlled by that LMA Series, LLC (“LMA”), formed a limited partnership, LMA Income Series II, LP (“LMAIS II”), and subsequently issued partnership interests to limited partners in a private placement offering. The initial term of the offering was three years ending on March 31, 2026 with the ability to extend for two additional one-year periods ending on June 30, 2027 and on December 31, 2028. The limited partners receive annual dividends equal to the Preferred Return Amounts as follows: Capital commitment of less than $500,000, 8.00%; between $500,000 and $1,000,000, 8.25%; and over $1,000,000, 8.50%. Thereafter, 100% of the excess are to be paid to the General Partner.

The private placement offerings proceeds are used to acquire and actively manage a large and diversified portfolio of financial assets. LMA, through its consolidated subsidiaries, serves as the portfolio manager for the financial asset portfolio, which includes investment sourcing and monitoring. In this role, LMA has the unilateral ability to acquire and dispose of any of the above investments. As the partnership does not represent a business in accordance with ASC 810 and is a consolidated subsidiary that only holds financial assets, this represents a transfer subject to ASC 860-10. As the financial assets are not transferred outside the consolidated group, the proceeds from the offering shall be classified as a liability unless it meets the definition of a participating interest and the derecognition criteria in ASC 860 are met. The transferred interest did not meet the definition of a participating interest as LMA possesses the unilateral ability to direct the sale of the financial assets (ASC 860-10-50-6A(d)). In accordance with ASC 860-30-25-2, as the transfer of the financial assets did not meet the definition of a participating interest, LMA recognizes the proceeds received from the offering as a secured borrowing.

For the three months ended June 30, 2026 and 2025, LMA Income Series II GP LLC, through the LMAIS II, admitted $248,020 and $8,542,382 additional limited partnership interests and redeemed $111,144 and $250,000 existing limited partnership interests, respectively. For the six months ended June 30, 2026 and 2025, LMA Income Series II GP LLC, through the LMAIS II, admitted $992,387 and $24,732,253 additional limited partnership interests and redeemed $77,589,347 and $12,001,343 existing limited partnership interests, respectively.

LMA elected to account for the secured borrowing at fair value under the collateralized financing entity guidance within ASC 810-10-30. As of June 30, 2026, the fair value of the secured borrowing includes debt of $38,293,580 and other liabilities of $674,913, respectively. LMAIS II is secured by its assets, which includes cash of $2,943,636, accounts receivable of $7,796,838, life settlement policies of $83,978,243, and other assets of $87,444 totaling $94,806,161 as of June 30, 2026. The asset coverage ratio is 2.5x as

of June 30, 2026. The assets of LMA Income Series II, LP are restricted to the satisfaction of obligations of LMA Income Series II, LP and are not available to satisfy the general obligations of the Company. The creditors of LMA Income Series II, LP have recourse only to the assets of LMA Income Series II, LP and do not have recourse to the general credit of the Company.

On June 30, 2023, in connection with the Merger Agreement, East Sponsor, LLC, a Delaware limited liability company (“Sponsor”), made an unsecured loan to the Company in the aggregate amount of $10,471,648 (the “Sponsor PIK Note”) with an interest rate of 12.0% per year compounding semi-annually. Accrued interest is payable in arrears quarterly starting on September 30, 2023 by adding it to the outstanding principal balance. As of June 30, 2026 and December 31, 2025, $4,510,859 and $3,642,551 in non-cash interest expense was added to the outstanding principal balance, respectively. The Sponsor PIK Note matures on June 30, 2028 and may be prepaid at any time in accordance with its terms without any premium or penalty. Non-cash Interest expense recognized for the three months ended June 30, 2026 and 2025 was $440,634 and $391,040, respectively. Non-cash Interest expense recognized for the six months ended June 30, 2026 and 2025 was $868,308 and $770,579, respectively.