This is a waterfall chart titled 'Financial Capacity' (in $ millions). The chart illustrates the components that make up the 'Total available capital' of $1,381 million. The chart begins with 'Cash & equivalents' at $228 million, followed by positive contributions from 'Approved and undrawn credit capacity' ($970 million), and '90-day expected loan repayments, sales and securitizations' ($552 million). It also shows negative impacts from '90-day expected future fundings' ($(144) million) and 'Working capital' ($(225) million). There is a 'Current liquidity' bar at $1,198 million. An inset box at the top right calculates 'Total Potential Liquidity' as $11,374 million, derived from $1,381 million 'Total Available Capital' plus $9,993 million 'Available On-BS Financing (13)'.

Category	Value ($ millions)
Cash & equivalents	228
Approved and undrawn credit capacity	970
Current liquidity	1,198
90-day expected loan repayments, sales and securitizations	552
90-day expected future fundings	(144)
Working capital	(225)
Total available capital	1,381

The inset table at the top right shows: Total Available Capital: $1,381; + Available On-BS Financing (13): $9,993; Total Potential Liquidity: $11,374.

**NOTE:** As of July 31, 2026 STARWOOD PROPERTY TRUST 32