{
 "markdown": "FBRT 1Q 2026 Financial Update\nLiquidity\n\n\n<figure type=\"CHART\">Liquidity ($M)\n\n\n\n<description>The image is a waterfall chart showing the components of total liquidity in millions of dollars. The chart starts from the left with 'Unrestricted Cash' ($116M), followed by 'CLO Reinvestment Available' ($3M), and 'Financing Available & In Progress' ($402M), which culminates in the 'Total Liquidity' bar ($521M) on the far right.</description>\n\n<table><thead><tr><th>Category</th><th>Value ($M)</th></tr></thead><tbody><tr><td>Unrestricted Cash</td><td>116</td></tr><tr><td>CLO Reinvestment Available</td><td>3</td></tr><tr><td>Financing Available & In Progress</td><td>402</td></tr><tr><td>Total Liquidity</td><td>521</td></tr></tbody></table></figure>\n\n1. Represents cash available at 3/31/2026 that we can invest at a market advance rate utilizing our available capacity on financing lines.\n\n\nBENEFIT STREET PARTNERS\n\n\n10\n\n<!-- doc_id=parse-01m3d9a0eajct64cqv25d5eqqa -->",
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