Atalaya Risk Management Overview

Case Study: Consumer Installment Loans Senior secured revolving credit facility to a Canadian consumer finance company that originates consumer installment loans at point of sale Asset Class Initial Investment Date Size Investment Type Highlights Atalaya Edge Gross IRR Financial Assets: Consumer Installment Loan Rediscount Facility Status January 2017 (subsequently upsized five times) CAD 250 million Senior Secured Rediscount Loan ■ Demonstrated ability to scale without sacrificing asset performance Financial sponsor who has demonstrated ability and desire to fund platform growth ■ ✓ Atalaya was able to secure an off-market transaction via a ROFR provision in the initial deal ✓ Significant experience in point-of-sale installment lending Projected -13% Gross IRR¹ Cumulative Charge-Offs (% of Original Loan Balance) 40% 30% 20% 10% 0% 0 18% PRESENTATION TO RHODE ISLAND STATE INVESTMENT COMMISSION | JANUARY 2021 Eligible UPB by Retail Segment 10% 29% 43% Principal Impairment Return Impairment ACM Covenant Cumulative Charge-Offs vs. UW Base Case Underwriting Wtd. Avg. Actual To-Date 6 ■Power Sports ■Auto Unrealized; Performing in line with underwriting 1. Atalaya issued an A-note as part of this investment which is reflected in the Projected Gross IRR. Further to the disclosures made on the "Selected Case Studies section divider page of this presentation, any underwritten Gross IRR and Gross MOIC reflected above (i) represent Atalaya's projections at the time of underwriting, (ii) do not necessarily represent Atalaya's current projections or expectations, and (iii) are gross of all management and incentive fees and fund/transaction expenses. Investors should note that the effect of applicable fees and expenses will be to reduce the returns shown above. Any underwritten or projected returns reflected above are also not a guarantee of future performance, as they are based upon assumptions (which may have been incomplete or incorrect at the time, or which may no longer be valid) regarding future events, circumstances, and conditions. 12 18 Months Since Origination Retail & Food Home Improvement ATALAYA 24 30 +-3.5x Actual Losses +~4.6x Actual Losses 36 21

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