Atalaya Risk Management Overview

Specialty Finance Amortization Reduces Risk Specialty finance transactions generally benefit from meaningful periodic amortization, which is expected to reduce the risk profile of the investment over time. Year 1 Specialty Finance Cash Flows Year 2 Self-Amortizing Year 3 Year 4 Year 5 Interest ■ Principal Substantially self-amortizing due to profile of underlying assets; reduced exit risk Year 1 Corporate Loan Cash Flows Bullet Maturity PRESENTATION TO RHODE ISLAND STATE INVESTMENT COMMISSION | JANUARY 2021 Year 2 Year 3 Year 4 Principal Reliant on capital markets exit, refinancing, or sale Interest Self-amortization generally reduces refinancing risk and limits broader market correlation. ATALAYA Year 5 Depictions of corporate loan and specialty finance investments shown above are general and illustrative only, and are not indicative of the characteristics of all investments in these asset classes, which may vary substantially. There can be no guarantee or assurance that investments with self-amortizing features will be less risky or perform as underwritten. 17

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