Atalaya Risk Management Overview

Strategy Overview AIF Funds primarily originate senior credit facilities to specialty finance borrowers and also selectively purchase whole loans or participations from consumer or small business loan originators. ■ ■ ■ ■ Originate senior credit facilities to specialty finance borrowers in niche credit markets, which are not well served by traditional banks and capital markets Opportunistically buy relatively short duration performing loans or assets Focus on rediscount lending which offers structural protections Mitigate correlation to capital markets by investing in assets designed to self-amortize in all market conditions Structural Protection PRESENTATION TO RHODE ISLAND STATE INVESTMENT COMMISSION | JANUARY 2021 Amortizati AIF STRATEGY ATALAYA No Fund Leverage Limited Correlation The attributes listed above are meant to be general and illustrative and there can be no guarantee or assurance that any or all of the AIF Funds' investments will contain such attributes, or that any such attributes will successfully mitigate risk or avoid losses. While portfolio or fund level leverage is not generally utilized, Atalaya may opportunistically use leverage at the individual deal or position level and has historically done so on a selective basis. 10

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