AG Direct Lending SMA

ANGELO AG GORDON Twin Brook Capital Partners 2014 Founded Chicago Headquarters $12.3 Billion Asset Commitments 79 Team Members 1,100+ Closed Transactions With Over 200 different middle market private equity firms Recent Awards |AltCredit] USPENERVICCE AWARDS 20211 2021 Private Debt- Direct Lending: AG Direct Lending Fund III ● THE ● ● ● ● Twin Brook Capital Partners is a SEC registered, wholly-owned subsidiary of Angelo Gordon focused on senior secured lending to lower middle market borrowers with less than $25 million of EBITDA, strong historical performance and private equity ownership. Our middle market direct lending strategy focuses on sourcing, underwriting and actively managing a diversified portfolio of middle market, floating rate, senior secured loans (including revolvers, and first liens). Senior members of the Twin Brook team have worked together for over 19 years. Since the inception of the strategy at the firm through October 31, 2021 the team has seen over 8,729 deals from over 768 unique PE sponsors. We have closed over 250 platform financing deals with more than 100 different PE Sponsors, not inclusive of add-ons. Our strategy is focused on delivering attractive returns while minimizing volatility and protecting the downside and thus is conservatively positioned. $19.4 Billion Commitments Issued to Date M&A ATLAS AWARDS 2020 Americas Lender of the Year, Small Mid-Markets 2020 Lender, Small - Firm of the Year, U.S.A. 769 Closed Transactions Since 4th Quarter 2014 Inception Private Debt Investor AWARDS 2019 2019 Fundraising of the Year, Americas 2019 Lower Mid-Market Lender of the Year, Americas ACOUSONS 2019 Mid-Market Awards 95% Deals as Lead/Co-Lead Arranger 2019 Lender of the Year PRIVATE DEBT INVESTOR AWARDS 2018 2018 Senior Lender of the Year, Americas The awards referenced above are solely for informational purposes, are based in part on subjective criteria and a limited universe of nominees, may not be representative of any one client's experience with Angelo Gordon, and are not indicative of, nor should they be construed or relied upon as, any indicaPagef135gelo Gordon's future performance. Proprietary and Confidential Trade Secret 11

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