Disclaimer: The case studies presented on this page are illustrative of the investment approach of Stellex Capital Management LLC (“Stellex” or the “Firm”), and are not intended to represent all investments made by Stellex or its affiliated funds. The selection of case studies presented is intended to illustrate a range of sectors, transaction types, geographies, and/or stages of investment within the Firm’s portfolio, and is not based on performance criteria. The investments referenced should not be assumed to be representative of the full portfolio nor experience of other Stellex investments. The case studies describe selected investment activities and outcomes and do not reflect all aspects of the investments, including risks, challenges, or factors that may or may have negatively affected performance. Certain investments shown remain in Stellex’s current portfolio and have not yet been fully realized; the value-creation initiatives, outcomes, and other characteristics described reflect activity to date and are subject to change. References to value-creation activities reflect efforts undertaken by Stellex and portfolio company management; specific outcomes may be attributable to multiple factors, including factors outside Stellex’s control. Statements regarding investment thesis, value-creation initiatives, and anticipated outcomes are forward-looking and not guarantees of future performance. Future results may differ materially from the descriptions provided. A complete list of Stellex’s investments is available upon request.

Past performance is not indicative of future results. There can be no assurance that any Stellex investment will achieve positive results, or that the value-creation initiatives described will produce successful outcomes. The information provided is for illustrative purposes only and does not constitute investment advice. References to specific portfolio companies, transactions, or investment strategies should not be construed as recommendations or endorsements. The information presented is current as of Q2 2026 and is subject to change without notice. While believed to be accurate, no representation or warranty is made as to its accuracy or completeness of such information. Additional information about Stellex is available in its Form ADV filed with the Securities and Exchange Commission; such registration does not constitute an endorsement by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability.