Ladder Capital Asset Management LLC

Ladder Capital Asset Management LLC (LCAM) is a registered investment adviser affiliated with Ladder Capital Corp, managing assets on a discretionary basis for CLO Issuers primarily investing in commercial real estate loans. LCAM's investment strategy focuses on managing assets in line with the collateral management agreement to ensure timely payment of obligations. LCAM does not charge a management fee due to its role as Collateral Manager. The firm, along with unaffiliated servicers, receives compensation from mortgage loan borrowers for services provided. LCAM's investment discretion includes identifying acquisition opportunities, negotiating loan modifications, and advising on asset disposition. The firm's investment philosophy involves market knowledge, credit evaluation, and due diligence to mitigate risks. LCAM's Code of Ethics addresses conflicts of interest, and the firm has not been subject to disciplinary events. LCAM's custody of assets is held by Wells Fargo Bank, N.A., and the firm has discretionary authority over managing investments. LCAM's Proxy Voting Policies ensure voting in the best interest of clients, and the firm does not have proxy voting authority over public companies. LCAM does not require prepayment of fees and has waived the receipt of Management Fees. For more detailed information, refer to the firm's brochure.