In the normal course of business, the Company’s investment activities involve executions, settlement and financing of various transactions resulting in receivables from, and payables to, brokers, dealers and other counterparties. These activities may expose the Company to risk in the event that such parties are unable to fulfill contractual obligations. The Operating Manager does not anticipate any material losses from counterparties with whom it conducts business. Consistent with standard business practice, the Company enters into contracts that contain a variety of indemnifications, and may be engaged from time to time in various legal actions. The maximum exposure of the Company under these arrangements and activities is unknown. However, the Company expects the risk of material loss to be remote.

From time to time, the Operating Manager and its affiliates may commit to an investment on behalf of the entities it manages, including the Company. Certain terms of these investments are not finalized at the time of the commitment and each respective entity’s allocation may change prior to the date of funding. In this regard, the Company may have to fund additional commitments in the future that it is currently not obligated to but may be at a future point in time.

From time to time, the Company may be involved in various claims and legal actions arising in the ordinary course of business. As of June 30, 2026, the Company was not subject to any material litigation nor was the Company aware of any material litigation threatened against it.

As of June 30, 2026, Series I, Series II and the Company had unfunded commitments on Asset-Backed Finance Assets amounting to $24,638, $128,714 and $153,352, respectively, and €688, €3,592 and €4,280, respectively.

As of December 31, 2025, Series I, Series II and the Company had unfunded commitments on Asset-Backed Finance Assets amounting to $33,321, $138,598 and $171,919, respectively, and €-, €- and €-, respectively.