Bryant Park Capital | Q1 2024

Specialty Finance Market Update

Public Comparables data as of March 29, 2024

Transactions data as of March 29, 2024

PHILADELPHIA, PA NEW YORK, NY

484-586-8200 212-798-8200

www.bryantparkcapital.com
BRYANT PARK CAPITAL | Experts in Specialty Finance

Experience Beyond Investment Banking

Since 1991, Bryant Park Capital (“BPC” or “Bryant Park”) has been Want to connect with our team at these
providing a full range of entrepreneurial merger & acquisition, upcoming conferences?
capital raising, and strategic advisory services to middle market
companies. Email us at info@bryantparkcapital.com

We are predominately focused on specialty finance and financial

services, with experience in other industries such as healthcare
services, commercial businesses, and consumer services.

Bryant Park combines the capabilities of a large firm with the

focus of a small firm. Bryant Park’s distinguishing characteristics
include:

― Deep Experience: We are seasoned professionals, with an

averageRAY
of KANE BILL MINER
over 30 years of experience who have collectively
Managing Director Principal
completed over 400 transactions with total value of over $30
billion.

― Superior Access to Capital: Our professionals maintain strong

and active relationships with the “decision makers” at the leading
providers of capital, from credit funds, hedge funds and private
equity funds.

― Creative Thinking: We have served as senior executives at

operating companies, as successful private equity investors, and
as corporate finance professionals. We pride ourselves on being
able to craft the best solution, not just the conventional one.

2
BRYANT PARK CAPITAL | Expe rts i n Speci alty Finance

Fixed Income

ABS Issuances by Sector

$20

$16

$12
($bn)

$8

$4

$0

Auto Esoteric Equipment Credit Card Student Loan

*Esoteric issuances include Specialty Finance (shown below)

ABS Issuances (Specialty Finance)

$2.0
$1.8
$1.6 $1.5
$1.4
$1.4 $1.3
$1.2 $1.1
$1.0
($bn)

$1.0 $0.9 $0.9 $0.9

$0.8
$0.8 $0.7 $0.7
$0.6 $0.4
$0.4 $0.3
$0.2
$0.0
Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
3
Sources: Finsight
BRYANT PARK CAPITAL | Expe rts in Specialty Finance

Interest Rates

 The Federal Open Market Committee held its first and second meetings of 2024 in January and March, during which,
the federal funds rate target range was kept at 5.25 to 5.50%. The announcements reflected mixed economic results
and caution by the Fed to cut rates before reaching the 2% inflation goal

 For investors, this will provide some additional time for capturing attractive yields in the markets. Additionally, once the
Fed does decide to cut rates, market analysts expect total fixed income returns to rise

Historical U.S. Prime, SOFR, and Swap Rates

10%

8%

6%

4%

2%

0%

Interest Rate Swaps - USD - 1 Year - Rate Value Interest Rate Swaps - USD - 5 Year - Rate Value
Interest Rate Swaps - USD - 10 Year - Rate Value Interest Rate Swaps - USD - 30 Year - Rate Value
US SOFR - Rate Value United States Prime Rate - Rate Value

4
Sources: Federal Reserve
BRYANT PARK CAPITAL | Expe rts i n Speci alty Finance

Specialty Finance Public Comparable Returns

1-Month Returns

6.4% 7.3%
4.0% 4.9%
1.8% 2.3%

(0.3%) (0.2%)

Automotive Specialty SBA Lending S&P 500 Consumer S&P 500 Mortgage and Real Leasing & Rental
Financing Finance & BDC Finance Financials (Sector) Estate Lenders

3-Month Returns

10.7% 12.0%
10.2%
5.6%
2.2% 3.3%

(2.9%) (2.3%)

Specialty Consumer Automotive SBA Lending Mortgage and Real S&P 500 Leasing & Rental S&P 500
Finance Finance Financing & BDC Estate Lenders Financials (Sector)

12-Month Returns
99.1%

50.2%
24.8% 25.5% 27.9% 31.0% 31.7%
18.3%

SBA Lending Automotive Specialty S&P 500 S&P 500 Leasing & Rental Mortgage and Real Consumer
& BDC Financing Finance Financials (Sector) Estate Lenders Finance
5
BRYANT PARK CAPITAL | Expe rts i n Speci alty Finance

Public Comparables

Price to Earnings - Multiples by Sector

2024E 2025E

Automotive Financing 19.5x Automotive Financing 12.6x

Leasing & Rental 15.3x Leasing & Rental 12.4x

Mortgage and Real Estate Lenders 13.6x Mortgage and Real Estate Lenders 9.9x

Consumer Finance 11.8x Consumer Finance 9.9x

SBA Lending & BDC 9.5x SBA Lending & BDC 9.4x

Specialty Finance 9.4x Specialty Finance 9.0x

6
Specialty Finance Market Update
Analysis of Comparable Publicly Traded Financial Services Companies (as of 3/29/2024)

Market Enterprise Multiples Growth Rates Book Value

Stock Price % MTD % LTM Cap Value Price / Earnings EV / Revenue Revenue EPS P/B P / TBV P/E/G
Company Ticker 3/29/24 Change High 3/29/2024 3/29/2024 CY 24E CY 25E CY 24E CY 25E CY 24E CY 25E LT CY 24E CY 25E CY 24E

Specialty Finance
Burford Capital Limited AIM:BUR $15.7 4.6% 89.6% $3,432.5 $5,571.9 16.1x 11.9x 2.4x 2.1x (40.2%) 13.9% NA 1.5x 1.6x NA
Encore Capital Group, Inc. NasdaqGS:ECPG $45.6 (6.7%) 83.3% $1,073.9 $4,348.3 7.4x 4.8x 2.4x 2.1x 15.2% 15.2% NA 1.1x 3.3x NA
PRA Group, Inc. NasdaqGS:PRAA $26.1 0.6% 64.5% $1,023.6 $3,937.7 NM 14.9x 3.1x 2.8x 21.1% 8.9% NA 0.9x 1.4x NA
ECN Capital Corp. TSX:ECN $1.5 (23.3%) 61.8% $432.1 $1,470.6 12.4x 8.2x 4.4x 3.8x NM 14.7% NA 5.1x NM NA
Omni Bridgeway Limited ASX:OBL $1.0 (9.1%) 50.5% $278.2 $686.4 NM 8.2x 1.0x 0.8x NM 26.1% NA 1.4x 2.1x NA
SWK Holdings Corporation Nasdaq:SWKH $17.4 5.2% 92.9% $217.7 $223.8 7.1x 13.6x 0.3x 0.3x 14.4% 6.2% NA 0.8x 0.8x NA
Medallion Financial Corp. NasdaqGS:MFIN $7.9 (0.9%) 75.4% $177.9 $2,216.5 5.6x 3.9x NM 9.6x (24.1%) 10.5% NA 0.5x 1.0x NA
Litigation Capital Management Limited AIM:LIT $1.4 7.7% 88.7% $161.4 NA NA NA NA NA (100.0%) NA NA 1.3x 1.3x NA
Accord Financial Corp. TSX:ACD $3.6 (2.9%) 67.8% $30.7 $343.3 8.0x NA 5.3x NA NM (100.0%) NA 0.5x 0.5x NA
LM Funding America, Inc. NasdaqCM:LMFA $3.7 7.4% 44.5% $8.9 $6.0 NM NA 0.1x NA NA (100.0%) NA 0.3x 0.3x NA
Median (0.1%) 71.6% 7.7x 8.2x 2.4x 2.1x (4.9%) 10.5% NA 1.0x 1.3x NA
Mean (1.7%) 71.9% 9.4x 9.4x 2.4x 3.1x (18.9%) (11.6%) NA 1.3x 1.4x NA

Leasing / Rental
AerCap Holdings N.V. NYSE:AER $86.9 12.4% 98.9% $17,011.1 $61,910.3 8.9x 8.0x 6.1x 5.9x 1.4% 2.9% 3.2% 1.0x 1.3x 2.8x
WillScot Mobile Mini Holdings Corp. NasdaqCM:WSC $46.5 (3.2%) 89.1% $8,833.6 $12,620.7 22.3x 17.6x 1.5x 1.4x 7.9% 8.8% 21.9% 7.0x NM 1.0x
Element Fleet Management Corp. TSX:EFN $16.2 (4.2%) 93.3% $6,291.1 $14,586.5 15.1x 13.3x 8.1x 7.4x (32.0%) 9.3% NA 2.3x 5.4x NA
Air Lease Corporation NYSE:AL $51.4 28.9% 99.4% $5,728.7 $24,450.6 11.3x 9.6x 6.7x 6.1x 7.2% 9.0% 13.0% 0.8x 0.8x 0.9x
GATX Corporation NYSE:GATX $134.0 5.0% 98.8% $4,763.2 $11,956.9 17.8x 16.9x 4.9x 4.7x 9.5% 5.1% NA 2.1x 2.2x NA
McGrath RentCorp NasdaqGS:MGRC $123.4 (1.1%) 94.3% $3,022.1 $3,800.2 22.8x 20.1x 0.9x 0.9x 3.2% 5.8% 13.0% 3.2x 5.5x 1.8x
Upbound Group, Inc. NasdaqGS:UPBD $35.2 5.2% 97.3% $1,916.0 $3,422.3 9.3x 8.1x 0.4x 0.4x 3.7% 4.1% 20.0% 3.4x NM 0.5x
The Aaron's Company, Inc. NYSE:AAN $7.5 2.5% 46.4% $229.7 $867.3 NM 11.7x 0.3x 0.3x (0.8%) 2.7% NA 0.3x 0.6x NA
Chesswood Group Limited TSX:CHW $5.3 (15.2%) 77.0% $98.4 $1,580.9 NM 8.1x 6.8x 5.9x NM 15.4% NA 0.7x 1.1x NA
Median 2.5% 94.3% 15.1x 11.7x 4.9x 4.7x 3.4% 5.8% 13.0% 2.1x 1.3x 1.0x
Mean 3.4% 88.3% 15.3x 12.6x 4.0x 3.7x 0.0% 7.0% 14.2% 2.3x 2.4x 1.4x

Consumer Finance
Affirm Holdings, Inc. NasdaqGS:AFRM $37.3 (2.0%) 71.0% $11,434.1 $15,955.4 NM NM 2.6x 2.1x 26.8% 21.0% NA 4.3x 5.5x NA
OneMain Holdings, Inc. NYSE: OMF $51.1 4.9% 98.9% $6,118.8 $25,090.8 8.8x 6.6x 4.4x 4.1x NM 5.8% 11.9% 1.9x 4.1x 0.7x
FirstCash Holdings, Inc. NasdaqGS:FCFS $127.5 10.9% 99.6% $5,753.1 $7,549.1 18.4x 15.8x 0.6x 0.5x 10.8% 7.4% NA 2.9x NM NA
SLM Corporation NasdaqGS:SLM $21.8 5.3% 99.3% $4,801.4 $6,076.1 8.2x 7.6x 3.5x 3.4x 2.4% 4.1% 3.6% 2.9x 3.1x 2.3x
Upstart Holdings, Inc. NasdaqGS:UPST $26.9 2.2% 37.0% $2,324.1 $3,199.9 NM NM 2.1x 1.6x 6.1% 32.4% NA 3.7x 4.4x NA
Navient Corporation NasdaqGS:NAVI $17.4 5.7% 88.4% $1,961.8 $58,885.8 8.0x 8.0x NM NM (39.7%) (6.4%) NA 0.7x 1.0x NA
Enova International, Inc. NYSE:ENVA $62.8 (0.5%) 97.4% $1,727.0 $4,636.3 7.7x 6.5x 1.2x 1.1x NM 10.6% NA 1.5x 2.1x NA
PROG Holdings, Inc. NYSE:PRG $34.4 9.7% 76.9% $1,504.6 $1,957.3 12.0x 10.6x 0.3x 0.2x (3.5%) 4.8% NA 2.5x 8.1x NA
goeasy Ltd. TSX:GSY $117.7 (5.9%) 88.5% $1,969.3 $4,017.5 9.5x 8.0x 2.0x 1.8x NM 13.4% NA 2.5x 3.5x NA
World Acceptance Corporation NasdaqGS:WRLD $145.0 17.9% 90.6% $825.2 $1,479.9 12.5x NA 1.2x NA (2.5%) (100.0%) NA 2.0x 2.1x NA
Green Dot Corporation NYSE:GDOT $9.3 16.0% 43.7% $492.9 NA 6.1x 5.3x 0.0x 0.0x 5.5% 7.9% 5.0% 0.6x 1.8x 1.2x
LendingClub Corporation NYSE:LC $8.8 7.1% 80.5% $970.5 NA 40.3x 14.0x 0.1x 0.1x (37.0%) 24.6% NA 0.8x 0.9x NA
EZCORP, Inc. NasdaqGS:EZPW $11.3 10.8% 99.6% $624.9 $1,015.0 10.8x 9.7x 0.5x 0.5x 8.3% 6.2% NA 0.8x 1.5x NA
Atlanticus Holdings Corporation NasdaqGS:ATLC $29.6 (10.3%) 67.7% $432.4 $2,257.4 6.3x 4.8x 1.5x 1.4x NM 13.2% NA 1.1x 1.1x NA
Regional Management Corp. NYSE:RM $24.2 5.6% 70.0% $236.3 $1,663.6 6.0x 3.6x 2.5x 2.3x 9.3% 7.4% NA 0.7x 0.8x NA
Oportun Financial Corp NASDAQ: OPRT $2.4 (38.5%) 31.4% $84.0 $2,922.0 NM 2.7x 3.0x 2.8x 12.4% 8.0% NA 0.2x 0.3x NA
MoneyLion Inc. NYSE:ML $71.3 37.5% 90.0% $750.2 $854.7 NM 24.4x 0.4x 0.3x 23.3% 19.8% NA 2.9x 9.2x NA
LendingTree, Inc. NasdaqGS:TREE $42.3 5.9% 95.1% $552.2 $1,051.3 17.1x 11.8x 0.9x 0.8x (0.7%) 16.8% NA 4.4x NM NA
OppFi Inc. NYSE:OPFI $2.5 (28.0%) 46.8% $48.3 $549.3 4.5x 4.0x 0.7x 0.6x NM 6.4% NA 4.5x 4.5x NA
Katapult Holdings, Inc. NasdaqGM:KPLT $11.7 (14.0%) 47.1% $47.5 $112.8 NM NM 0.4x 0.3x 9.7% 17.8% 53.9% NM NM NM
Median 5.4% 84.4% 8.8x 7.8x 1.2x 0.9x 6.1% 8.0% 8.4% 2.0x 2.1x 1.2x
Mean 2.0% 76.0% 11.8x 9.0x 1.5x 1.3x 2.1% 6.1% 18.6% 2.2x 3.2x 1.4x

7
Specialty Finance Market Update
Analysis of Comparable Publicly Traded Financial Services Companies (as of 3/29/2024)

Market Enterprise Multiples Growth Rates Book Value

Stock Price % MTD % LTM Cap Value Price / Earnings EV / Revenue Revenue EPS P/B P / TBV P/E/G
Company Ticker 3/29/24 Change High 3/29/2024 3/29/2024 CY 24E CY 25E CY 24E CY 25E CY 24E CY 25E LT CY 24E CY 25E CY 24E

Automotive Financing
Credit Acceptance Corporation NasdaqGS:CACC $551.6 (0.1%) 89.4% $6,785.7 $11,842.7 13.9x 12.0x 2.7x 2.4x NM 9.4% NA 3.9x 3.9x NA
America's Car-Mart, Inc. NasdaqGS:CRMT $63.9 (5.6%) 49.9% $408.3 $1,210.5 25.1x 12.8x 0.6x 0.6x (3.6%) 0.4% (19.5%) 0.9x 0.9x NM
Consumer Portfolio Services, Inc. NasdaqGM:CPSS $7.6 (12.2%) 55.0% $159.7 $2,723.4 NA NA NA NA (100.0%) NA NA 0.6x 0.6x NA
First Acceptance Corporation OTCPK:FACO $2.6 26.8% 90.0% $99.0 $99.0 NA NA NA NA NA NA NA NA NA NA
Nicholas Financial, Inc. NasdaqGS:NICK $6.8 (0.9%) 90.7% $49.3 $41.6 NA NA NA NA (100.0%) NA NA 0.8x 0.8x NA
Median (0.9%) 89.4% 19.5x 12.4x 1.6x 1.5x (100.0%) 4.9% (19.5%) 0.9x 0.9x NA
Mean 1.6% 75.0% 19.5x 12.4x 1.6x 1.5x (67.9%) 4.9% (19.5%) 1.6x 1.6x NA

SBA Lending / BDC

Brookfield Asset Management Ltd. TSX:BAM $42.0 1.0% 97.8% $16,341.5 $16,211.5 27.6x 23.2x 0.0x 0.0x 20.8% 16.8% NA 1.8x 1.8x NA
Ares Capital Corporation NasdaqGS:ARCC $20.8 2.9% 99.8% $12,633.1 $24,065.1 8.8x 9.4x 4.2x 4.3x 8.2% (0.7%) NA 1.1x 1.1x NA
FS KKR Capital Corp. NYSE:FSK $19.1 (0.1%) 90.9% $5,340.9 $13,296.9 6.8x 7.2x 4.8x 5.0x (6.9%) (3.3%) NA 0.8x 0.8x NA
Main Street Capital Corporation NYSE:MAIN $47.3 4.1% 99.9% $4,020.5 $5,774.9 11.7x 12.2x 3.5x 3.5x 3.2% (0.9%) NA 1.6x 1.6x NA
Prospect Capital Corporation NasdaqGS:PSEC $5.5 0.4% 79.0% $2,292.0 $6,169.5 7.1x NA 2.9x NA (3.7%) (100.0%) NA 0.6x 0.6x NA
Hercules Capital, Inc. NYSE:HTGC $18.5 2.3% 97.7% $2,887.4 $4,348.6 9.1x 9.2x 3.1x 2.9x 9.3% 6.5% NA 1.6x 1.6x NA
MidCap Financial Investment Corporation NasdaqGS:MFIC $15.0 2.0% 99.3% $981.4 $2,321.5 8.8x 9.3x 5.1x 5.1x 4.2% (0.6%) NA 1.0x 1.0x NA
SLR Investment Corp. NasdaqGS:SLRC $15.4 2.1% 96.8% $837.4 $1,671.0 9.0x 9.4x 5.1x 5.2x 0.9% (3.0%) NA 0.8x 0.8x NA
PennantPark Investment Corporation NYSE:PNNT $6.9 1.5% 94.6% $448.7 $1,107.2 7.3x NA 4.8x NA (3.9%) (100.0%) NA 0.9x 0.9x NA
NewtekOne, Inc. NasdaqGM:NEWT $11.0 (2.6%) 56.8% $271.5 $1,246.5 6.0x 5.3x 4.7x 4.3x (13.8%) 10.3% NA 1.2x 1.7x NA
Portman Ridge Finance Corporation NasdaqGS:PTMN $19.0 2.7% 89.5% $177.2 $472.7 6.7x 6.7x 4.6x 4.7x (8.8%) (1.9%) NA 0.8x 0.8x NA
Oxford Square Capital Corp. NasdaqGS:OXSQ $3.2 2.9% 96.4% $189.2 $306.4 6.9x 9.6x 2.6x 2.7x (8.7%) (3.8%) NA 1.2x 1.2x NA
Monroe Capital Corporation NasdaqGS:MRCC $7.2 0.3% 81.4% $156.0 $451.9 7.1x 7.2x 5.0x 5.1x (5.6%) (3.5%) NA 0.8x 0.8x NA
Median 2.0% 96.4% 7.3x 9.3x 4.6x 4.3x (3.7%) (1.9%) NA 1.0x 1.0x NA
Mean 1.5% 90.7% 9.5x 9.9x 3.9x 3.9x (0.4%) (14.2%) NA 1.1x 1.1x NA

Mortgage and Real Estate Lenders

Essent Group Ltd. NYSE:ESNT $59.5 11.1% 99.3% $6,352.7 $5,742.1 9.1x 8.4x 0.4x 0.3x 12.1% 8.6% 10.0% 1.2x 1.3x 0.9x
Rithm Capital Corp. NYSE:RITM $11.2 1.6% 98.5% $5,392.8 $29,663.1 6.7x 6.1x 5.7x 5.6x 52.0% 1.6% NA 0.9x 1.0x NA
Mr. Cooper Group Inc. NasdaqCM:COOP $78.0 8.7% 99.3% $5,035.7 $12,974.7 8.7x 7.3x 4.1x 3.6x 16.7% 11.4% (3.7%) 1.2x NM NM
PennyMac Financial Services, Inc. NYSE:PFSI $91.1 6.7% 96.1% $4,593.5 $17,088.4 8.8x 7.4x 7.2x 6.3x (5.1%) 13.1% (10.7%) 1.3x 1.3x NM
Walker & Dunlop, Inc. NYSE:WD $101.1 7.0% 88.9% $3,395.9 $4,557.2 23.1x 18.1x 1.3x 1.2x 14.2% 9.3% NA 1.9x 5.2x NA
First National Financial Corporation TSX:FN $27.8 (6.4%) 90.0% $1,666.0 $33,642.9 9.7x 8.7x NM NM 18.3% 5.5% NA 3.4x 3.6x NA
Rocket Companies, Inc. NYSE:RKT $14.6 13.1% 95.8% $1,989.9 $17,978.1 45.0x 25.3x 1.9x 1.6x 22.9% 24.9% NA 3.2x NM NA
Guild Holdings Company NYSE:GHLD $14.8 5.4% 97.9% $901.3 $2,827.1 10.1x 8.8x 2.2x 1.8x 32.5% 17.1% (64.0%) 0.8x NM NM
MCAN Mortgage Corporation TSX:MKP $11.6 (5.4%) 92.7% $436.4 $1,892.3 7.0x 7.4x NM NM (5.3%) 5.5% NA 1.0x 1.0x NA
Velocity Financial, Inc. NYSE:VEL $18.0 11.0% 94.3% $593.8 $4,405.1 11.0x 9.7x NM NM 28.1% 21.2% 35.0% 1.4x 1.4x 0.3x
Atrium Mortgage Investment Corporation TSX:AI $8.5 1.8% 92.5% $374.9 $659.0 10.2x 10.3x 3.9x 4.4x 54.6% (10.9%) NA 1.0x 1.0x NA
loanDepot, Inc. NYSE:LDI $2.6 (6.2%) 69.8% $470.8 $5,041.5 NM 9.3x 4.4x 3.7x 22.4% 18.8% NA 1.3x 1.5x NA
Finance Of America Companies Inc. NYSE:FOA $0.7 (16.1%) 32.7% $71.0 $9,339.4 NM 2.4x NM NM 35.8% 34.6% NA 0.3x NM NA
Median 5.4% 94.3% 9.7x 8.7x 3.9x 3.6x 22.4% 11.4% (3.7%) 1.2x 1.3x 0.6x
Mean 2.5% 88.3% 13.6x 9.9x 3.5x 3.2x 23.0% 12.4% (6.7%) 1.5x 1.9x 0.6x
Source: CapIQ
(a) Price as of March 29, 2024 divided by the last reported book value per share
(b) Mean and median calculations exclude EV/Sales >10x, P/E >50x, and Revenue Growth >70.0%

8
Transactions: Mergers & Acquisitions
Q1 2024

Target/Issuer Deal Information

Exchange: Percent
Date Closed Target/Issuer Ticker Sector Deal Size ($M) Sought (%) Buyers/Investors Sellers
1 01/01/2024 New Start Financial, LLC Private Consumer Finance Not Disclosed 100.00% Motos America Inc. Not Disclosed
(OTCPK:MTAM)

2 01/09/2024 Pay4Freight, LLC Private Specialty Finance Not Disclosed 100.00% Porter Capital Corporation Not Disclosed

3 01/11/2024 Orka Finance, Inc. Private Consumer Finance Not Disclosed 100.00% Sunstone Credit, Inc. NGP Energy Capital Management, LLC

4 01/18/2024 Southern Auto Finance Company Private Automotive Financing Not Disclosed Not Disclosed Finanzauto S.A. BIC Not Disclosed

5 02/21/2024 Red Oak Inventory Finance, LLC Private Specialty Finance $153.0 100.00% BharCap Partners, LLC ECN Capital Corp. (TSX:ECN)

6 03/04/2024 Ally Lending Private Consumer Finance Not Disclosed 100.00% Synchrony Financial (NYSE:SYF) Ally Financial Inc. (NYSE:ALLY)

7 03/07/2024 Car Title Loans USA Private Automotive Financing Not Disclosed 100.00% Integrity Financial Solutions, Inc. Not Disclosed

8 03/15/2024 HighTechLending Inc. Private Mortgage and Real Estate Lenders Not Disclosed Not Disclosed Not Disclosed Not Disclosed

9 03/26/2024 ROCIFI LABS PTE LTD Private Consumer Finance Not Disclosed 100.00% The GORA Network Not Disclosed

10 03/29/2024 Oakmont Capital Holdings, LLC Private Leasing / Rental $4.3 100.00% JA Mitsui Leasing USA Holdings, Inc. Quaint Oak Bank

9
Transactions: Private Placements
Q1 2024

Company Information Deal Information

Date Closed Target/Issuer Exchange: Ticker Sector Amount Raised ($M)

1 01/02/2024 Crew Finance, Inc. Private Consumer Finance $2.5

2 01/03/2024 Great Rock Capital Private Specialty Finance $500.0

3 01/04/2024 Happy Money, Inc. Private Consumer Finance Not Disclosed

4 01/08/2024 eCapital Corp. Private Specialty Finance $245.0

5 01/10/2024 Futurerent Holdings USA Inc. Private Mortgage and Real Estate Lenders $32.8

6 01/10/2024 Quasar Capital Partners Private Specialty Finance $30.0

7 01/12/2024 Black Diamond Funding Ventures, LLC Private Specialty Finance $11.4

8 01/12/2024 Vervent Private Specialty Finance $180.0

9 01/16/2024 Panacea Financial LLC Private Specialty Finance $24.5

10 01/18/2024 Kashable LLC Private Consumer Finance $25.6

11 01/18/2024 SouthStar Capital LLC Private SBA Lending / BDC $6.3

12 01/23/2024 CNote Group, Inc. Private Consumer Finance $0.3

13 01/24/2024 BILT Technologies, Inc. Private Consumer Finance $200.0

14 01/24/2024 Sunbit Private Consumer Finance $310.0

15 01/25/2024 Targeted Lending Private Specialty Finance $50.0

16 01/31/2024 BenePass, Inc. Private SBA Lending / BDC $20.0

17 01/31/2024 Blue Bridge Financial Private Specialty Finance $135.0

18 02/01/2024 LGAM Private Credit LLC Private Specialty Finance $5.5

10
Transactions: Private Placements
Q1 2024

Company Information Deal Information

Date Closed Target/Issuer Exchange: Ticker Sector Amount Raised ($M)

19 02/01/2024 Kafene Private Consumer Finance $15.0

20 02/07/2024 Bills.com, LLC Private Consumer Finance Not Disclosed

21 02/09/2024 Timbercreek Financial Corp. TSE: TF Mortgage and Real Estate Lenders $510.0

22 02/12/2024 ClearOne Advantage, LLC Private Consumer Finance Not Disclosed

23 02/12/2024 Mia Share, Inc. Private Consumer Finance $6.5

24 02/14/2024 Bridgecare Finance, Inc. Private Consumer Finance $10.0

25 02/15/2024 Mission Lane LLC Private Consumer Finance Not Disclosed

26 02/15/2024 Bellevue Funding LLC Private Mortgage and Real Estate Lenders $19.7

27 02/21/2024 Splash Financial, Inc. Private Consumer Finance $7.0

28 02/22/2024 AAM 24-1, LLC Private Specialty Finance $14.9

29 02/29/2024 Quasar Capital Partners Private Specialty Finance $12.0

30 03/04/2024 CURevl, LLC Private Consumer Finance Not Disclosed

31 03/04/2024 Debbie Inc. Private Consumer Finance Not Disclosed

32 03/06/2024 CarPutty Inc. Private Automotive Financing $5.0

33 03/06/2024 Ftf Lending, LLC Private Specialty Finance $309.6

34 03/06/2024 SLR Equipment Finance Private Specialty Finance $350.0

35 03/10/2024 Inter-American Investment Corporation Private SBA Lending / BDC Not Disclosed

36 03/11/2024 CNote Group, Inc. Private Consumer Finance $0.2

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Transactions: Private Placements
Q1 2024

Company Information Deal Information

Date Closed Target/Issuer Exchange: Ticker Sector Amount Raised ($M)

37 03/11/2024 Spotter, Inc. Private Specialty Finance $4.1

38 03/19/2024 CFG Merchant Solutions, LLC Private SBA Lending / BDC $10.0

39 03/21/2024 K-Dimensional Holdings Inc. Private Specialty Finance $92.0

40 03/21/2024 Tensorplex Labs Private Specialty Finance $3.0

41 03/21/2024 Capital Southwest Corporation NASDAQ: CSWC SBA Lending / BDC $150.0

42 03/25/2024 White Cap Parent, LLC Private Specialty Finance $12.4

43 03/26/2024 Healthcare Finance Direct Private Consumer Finance $60.0

44 03/27/2024 Shepherd's Finance, LLC Private Specialty Finance $1.2

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BRYANT PARK CAPITAL | Expe rts in Specialty Finance

Representative Transactions

13
 BRYANT PARK CAPITAL | Experts in Specialty Finance

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Disclaimer
Bryant Park Capital ("BPC" or "the Company") prepared this document using publicly available data from various sources including S&P Capital IQ, regulatory
filings, news releases, and other sources accessible by the general public. BPC does not guarantee the accuracy, completeness, timeliness or availability of any
information, including ratings, and is not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from
the use of such content. Third-party content providers give no express or implied warranties, including, but not limited to, any warranties of merchantability or
fitness for a particular purpose or use. Neither BPC nor any third-party content provider shall be liable for any direct, indirect, incidental, exemplary,
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connection with any use of their content or data provided. This report or its contents do not address the suitability of securities or the suitability of securities for
investment purposes, and should not be relied on as investment advice.
Any action taken by the recipient of this report, based on the information in the report, is at the recipient’s sole judgment and risk. The recipient must perform his
or her own independent review of any prospective investment.
The price and value of the investments referred to herein and the income from them may fluctuate. Past performance is not a guide to future performance, future
returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income
derived from, certain investments.
This report may contain forward looking statements that may be affected by inaccurate assumptions or by known or unknown risks, uncertainties, and other
important factors. As a result, the actual results, events, performance or achievements of the financial product may be materially different from those expressed or
implied in such statements. Accordingly, such statements should not be regarded as a representation by BPC, or any other person, that results contemplated by
such forward-looking statements will be achieved. The Company undertakes no duty to update any of the forward-looking statements, whether as a result of new
information, future events or otherwise. Under no circumstances shall this communication constitute an offer to sell or the solicitation of an offer to buy securities.
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