Atalaya Risk Management Overview

Underwriting & Asset Management Atalaya's underwriting and asset management process involves an end-to-end approach, from initial underwriting to ongoing asset management to exit, focused on identifying, monitoring and mitigating individual investment and portfolio-wide risks. Credit Analysis & Due Diligence Participate in the underwriting process to assist in surfacing potential investment and counterparty risks Engage in related due diligence activities to quantify and evaluate surfaced risks ▪ Assist in the establishment of appropriate covenant packages (or other deal terms) to mitigate surfaced risks ▪ Work with back-office to ensure accurate and complete books and records (and funding protocol) Credit Administration & Reporting Manage day-to-day administration of investment: collateral adequacy to process funding requests; confirm receipt of expected repayments, etc. ▪ Ensure receipt of, and review, periodic investment reporting ■ ▪ Produce internal pipeline and monthly portfolio reporting ▪ Ensure that all required investment filings are duly made PRESENTATION TO RHODE ISLAND STATE INVESTMENT COMMISSION | JANUARY 2021 Credit Monitoring & Harvesting I I ATALAYA ■ Maintain up-to-date valuation models and cash flow forecasts Manage periodic field exams or similar post-execution due diligence Analyze trends in collateral performance, asset fundamentals, and harvesting/workout strategies Coordinate the development and execution of harvesting/ workout strategies Identify and evaluate potential exit strategies to monetize embedded gains There can be no guarantee or assurance that Atalaya's underwriting and asset management process will be uniform for each investment or will correspond to the description set forth above, or that it will result in investments that are profitable or will avoid losses (which may be substantial). 28

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