Investor Presentaiton

Overview of Funding Sources Over Time CONSERVATIVE MANAGEMENT OF BROADLY DIVERSIFIED FUNDING SOURCES FOCUSED ON NON-MARK-TO- MARKET LIABILITIES • Balance sheet management strategy emphasizes maintaining access to various sources of secured and unsecured funding while focusing on matching the term of assets and liabilities At IPO December 31, 2019 September 30, 2023 Senior Convertible Notes Asset Specific Revolving Facility Other Non-MTM Asset Specific Senior Convertible Notes* CLOS Repurchase Facilities Repurchase Facilities Repurchase Facilities Total Leverage: ~0.9x Recourse Leverage: ~0.9x Non-MTM*: 0% Total Leverage: ~3.3x Recourse Leverage: ~2.2x Non-MTM*: 42% Total Leverage: ~2.2x Recourse Leverage: ~1.1x Non-MTM*: ~58% See definition in the appendix. **Redeemed with cash upon maturity. CLOS 30

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