ASSURED INVESTMENT MANAGEMENT LLC

SPL provides advisory services to Client Accounts by assisting with portfolio selection and asset management. These services are tailored to the specific investment objectives, strategies, and restrictions of each Client Account. However, SPL generally does not customize its advisory services to the individual needs of investors in Client Accounts. SPL has a fiduciary obligation to seek "best execution" of client transactions for Client Accounts. When evaluating brokers to execute transactions, SPL considers factors such as the total cost or proceeds of the transaction, commission rates, the value of research and other services provided by the broker, and the broker's reliability and financial condition. SPL also addresses potential conflicts of interest by reviewing broker-dealer performance in a wide variety of categories, including capital introduction and investor referrals.

SPL, an asset management firm, employs a multi-strategy approach to investing, specializing in SPL CLOs and asset-based investments through SPL Funds. Each Client Account's investment strategy is outlined in confidential documents. SPL's investment process involves identifying trading and investment strategies across asset classes and markets using various methods of analysis. SPL's investment strategies fall into several categories, including SPL CLOs, where they manage positions across the capital structure of collateralized loan obligations and the underlying assets. They also invest in leveraged loans and high yield bonds. Other strategies include: - Identifying trading and investment strategies within and across asset classes and markets - Combining one or more methods of analysis - Analyzing trade ideas, monitoring portfolios, performing risk and scenario analyses, and seeking investment opportunities - Considering current portfolio exposures, market environment, relative attractiveness, risk profile, liquidity, and judgment of team members

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