In the normal course of business and related to its investments in Infrastructure Assets, the Fund may from time to time enter into customary guarantee arrangements related to portfolio companies. As of September 30, 2026 and December 31, 2025, the Fund has guaranteed obligations under certain portfolio-company agreements with a maximum risk of loss of $93.3 million. The Fund has also entered into certain separate back-to-back indemnification agreements which, subject to certain conditions, indemnify the Fund from most payments that would otherwise need to be made under the related guarantee arrangement. As of September 30, 2026, the Fund has not been required to make payments under the guarantee arrangements and believes the credit risks to be remote and the fair value of this guarantee arrangement to be immaterial.

The Fund’s Adviser may elect to pay certain of the Expense Payments on the Fund’s behalf, provided that no portion of an Expense Payment will be used to pay any interest expense or distributions and/or shareholder servicing fees of the Fund. Any Expense Payment that the Fund’s Adviser has committed to pay must be paid by the Fund’s Adviser to the Fund in any combination of cash or other immediately available funds no later than forty-five days after such commitment was made in writing, and/or offset against amounts due from the Fund to the Fund’s Adviser or its affiliates. The Fund may be obligated to reimburse the Fund’s Adviser for such advanced expenses, subject to the applicable recoupment provisions under the Expense Support and Conditional Reimbursement Agreement, within three years prior to the last business day of the applicable calendar month in which such Reimbursement Payment obligation is accrued.


For the Quarter Ended	Expense Support from the Adviser		Expense Support Reimbursed to the Adviser		Expense Support No Longer Eligible for Reimbursement		Unreimbursed Expense Support (1)		Eligible for Reimbursement through (1)
June 30, 2024	$	2,050	$	(2,050)	$	—	$	—	June 30, 2027
September 30, 2024	1,231		(1,231)		—		—		September 30, 2027
December 31, 2024	493		(493)		—		—		December 31, 2027
March 31, 2025	2,908		(2,908)		—		—		March 31, 2028
June 30, 2025	2,668		(2,668)		—		—		June 30, 2028
September 30, 2025	3,007		(3,007)		—		—		September 30, 2028
December 31, 2025	2,564		(2,035)		—		529		December 31, 2028
March 31, 2026	2,631		(2,631)		—		—		March 31, 2029
June 30, 2026	4,248		(3,839)		—		409		June 30, 2029
September 30, 2026	30,149		—		—		30,149		September 30, 2029

As of September 30, 2026, in accordance with the terms of the Expense Support and Conditional Reimbursement Agreement, the Fund had no reimbursement payable in “accrued expenses” in the Fund’s consolidated statements of assets and liabilities for expenses previously advanced by the Adviser. As of December 31, 2025, no amounts were currently payable in accordance with the terms of the Expense Support and Conditional Reimbursement Agreement.

As of September 30, 2026, the Fund had unfunded commitments on delayed draw term loans and equity investments of $85.3 million and $1,938.2 million, respectively. As of December 31, 2025, the Fund had unfunded commitments on delayed draw term loans and equity investments of $450.4 million and $344.2 million, respectively. As of September 30, 2026 and December 31, 2025, the Fund’s unfunded commitments consisted of:


		As of
		September 30, 2026				December 31, 2025
Company	Commitment Type(1)(2)	Total Commitment		Unfunded Amount		Total Commitment		Unfunded Amount
Stack SJ Holdings Parent A-I, LLC	Delayed Draw Term Loan	$	137,500	$	8,435	$	137,500	$	81,758
Retained Vantage Data Centers Intermediate Holdco, L.P.	Delayed Draw Term Loan	185,000		—		185,000		146,458
CMH01 Holdings LP	Delayed Draw Term Loan	165,000		14,721		125,000		44,071
PowerHouse Data LCX, LLC	Delayed Draw Term Loan	75,000		19,300		75,000		59,622
Galaxy Helios LLC	Delayed Draw Term Loan	97,019		5,347		100,000		37,287
CW Nest Property Owner LLC	Delayed Draw Term Loan	100,000		17,112		100,000		81,159
Coreweave Financing DDTL V-V, LLC	Delayed Draw Term Loan	40,071		16,111		—		—
Pinnacle Buyer, LLC	Delayed Draw Term Loan	9,979		1,616		—		—
Pye-Barker Fire & Safety, LLC	Delayed Draw Term Loan	16,974		1,865		—		—
Saber Power Services, LLC	Delayed Draw Term Loan	5,500		839		—		—
Tango Holdings, LLC	Equity	803,569		94,661		517,419		29,250
Pioneer JV Holdings LLC	Equity	770,725		45,145		768,580		43,000
Sunrun Acropolis Owner 2026, LLC	Equity	500,000		462,500		—		—
Sierra Equity Holdings LLC	Equity	443,991		—		425,424		271,994
Voyager JV Holdings LLC	Equity	445,098		222,549		—		—
SI SNM01A Aggregator LLC	Equity	219,853		33,236		—		—
SI SNM01B Aggregator JV LLC	Equity	723,016		116,393		—		—
Ravens Edge Renewables, LLC	Equity	1,405,333		963,728		—		—

(1) The unfunded debt/delayed draw term loan obligations may or may not be funded to the borrowing party in the future. The Fund’s commitment to fund delayed draw term loans is triggered upon the satisfaction of certain pre-negotiated terms and conditions which can include covenants to maintain specified leverage levels and other related borrowing base covenants. Total commitment is net of paydowns for delayed draw term loans.

(2) The Fund’s equity commitments are based on either a pre-agreed funding schedule, performance milestones, or completion of assets that move into the investment portfolio. Certain terms of these investments are not finalized at the time of the commitment and the Fund’s allocation may change prior to the date of funding. In this regard, the Fund 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.