Risk Factors Update Summary

• Difficult economic, market, and political conditions may adversely affect businesses, reducing revenue, earnings, and cash flow.
• Increased regulatory scrutiny and potential conflicts of interest may impact our business practices significantly.
• Increased expenses due to significant demands on resources and employees from substantial growth.
• The SEC adopted new rules and amendments impacting private fund advisors, potentially increasing compliance costs.
• Heightened volatility in global financial markets may result in increased expenses and challenges in maintaining controls.
• Future sales of Class A common stock may decline due to the issuance of additional equity.
• Failure to effectively manage growing business demands may lead to adverse financial impacts.
• Investors' activism on ESG matters could constrain our ability to commit capital effectively.
• Cybersecurity risks and data breaches could result in financial distress and reputational harm.
• Legislation on ESG matters may impair our ability to attract investors and maintain fund size.
• Compliance with evolving data security and privacy laws may require operational changes and increased costs.
• Employee misconduct risks could lead to legal liabilities, reputational harm, and financial losses.