{
 "markdown": "Appendix\n# Core Portfolio \u2013 Earnings Sensitivity\n\nPositive earnings correlation to falling rates due to rate floor activations\n\n\n<figure type=\"CHART\">Annual EPS Sensitivity on Index Rates\n\n\n\n<description>The image is a bar chart displaying the annual Earnings Per Share (EPS) sensitivity relative to changes in floating base rate indices. The x-axis represents the 'Change in Floating Base Rate Indices' with categories: -1.00%, -0.75%, -0.50%, 3/31/2026 (the baseline), and +0.25%. The y-axis represents EPS values. The bars decrease in height as the rate increases, except for the baseline which is marked at $0.00. Above the bars are text labels indicating the EPS value for each category. Additionally, there are two callout bubbles on the top right providing reference data for the baseline date.</description>\n\n<table>\n<thead>\n<tr>\n<th>Change in Floating Base Rate Indices</th>\n<th>EPS Value</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>-1.00%</td>\n<td>$0.17</td>\n</tr>\n<tr>\n<td>-0.75%</td>\n<td>$0.11</td>\n</tr>\n<tr>\n<td>-0.50%</td>\n<td>$0.06</td>\n</tr>\n<tr>\n<td>3/31/2026</td>\n<td>$0.00</td>\n</tr>\n<tr>\n<td>+0.25%</td>\n<td>($0.02)</td>\n</tr>\n</tbody>\n</table>\n\n\n\n<description>There are two oval callouts in the upper right area:\n1. Top oval: 'As of 4/15/26' followed by '1M SOFR: 3.67%'\n2. Bottom oval: 'As of 3/31/26' followed by '1M SOFR: 3.66%'</description></figure>\n\nNote: Reflects earnings impact of an increase or decrease in the floating-rate indices referenced by our portfolio, assuming no change in credit spreads, portfolio composition or asset performance.\n\n\nBENEFIT STREET PARTNERS\n\n\n21\n\n<!-- doc_id=parse-01m3d9afmdp0kfrqw1y3048s6b -->",
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