# EDGAR Filing Document

**Accession Number:** 0002045370
**File Stem:** 0001213900-25-113047
**Filing Date:** 2025-11
**Character Count:** 237479
**Document Hash:** bf42608771cb45d00db1d001e0b55756
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-113047.hdr.sgml**: 20251120

**ACCESSION NUMBER**: 0001213900-25-113047

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20250905

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251120

**DATE AS OF CHANGE**: 20251120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Remora Capital Corp
- **CENTRAL INDEX KEY:** 0002045370

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01897
- **FILM NUMBER:** 251502614

**BUSINESS ADDRESS:**
- **STREET 1:** 3200 WEST END AVENUE
- **STREET 2:** SUITE 500
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203
- **BUSINESS PHONE:** 615-380-1095

**MAIL ADDRESS:**
- **STREET 1:** 3200 WEST END AVENUE
- **STREET 2:** SUITE 500
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K/A**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): November 20, 2025 (September 5, 2025)**

**Remora Capital Corporation**

**(Exact name of Registrant as Specified in Its Charter)**

---

| | | |
|:---|:---|:---|
| **Maryland** | **814-01897** | **33-2299238** |
| **(State or Other Jurisdiction<br> of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br> Identification No.)** |

---

---

| | |
|:---|:---|
| **3200 West End Avenue, Suite 500, Nashville, TN** | **37203** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: (615) 380-1095**

**Not Applicable**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **None** | **None** | **None** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Explanatory Note**

This Amendment No. 1 (this "Amendment No. 1") is being filed solely to amend and supplement Item 9.01 of the Current Report on Form 8-K filed by Remora Capital Corporation, a Maryland corporation (the "Company"), with the Securities and Exchange Commission on September 11, 2025 (the "Initial Form 8-K") to include the unaudited financial statements of each of the Private Funds (as defined below) as of June 30, 2025, the audited financial statements of each of the Private Funds as of December 31, 2024, and supplemental disclosure information as required by Regulation S-X Rule 6-11 related to fund acquisitions. As previously reported in the Initial Form 8-K, on September 5, 2025, each of Remora Capital Partners I, LP ("Fund I"), Remora Capital Partners II, LP ("Fund II"), Remora Capital Partners I QP LP ("Fund I QP"), and Remora Capital Partners II QP, LP ("Fund II QP" and together with Fund I, Fund II, and Fund I QP, the "Private Funds") merged with and into the Company, with the Company as the surviving entity (collectively, the "Mergers").

Pursuant to the instructions to Item 9.01 of Form 8-K, the Company hereby files this Amendment No. 1 to amend the Initial Form 8-K in order to include the required financial statements and supplemental disclosure information that were previously omitted. No other changes have been made to the Initial Form 8-K.

**Item 9.01. Financial Statements and Exhibits.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Financial Statements of Business Acquired

The financial statements of each of the Private Funds and the supplemental disclosure information required by Regulation S-X Rule 6-11 are filed as Exhibits to this report and incorporated in their entirety herein by reference.

With respect to supplemental disclosure information, the Company has (i) included a current fee and expense information table, showing solely the fee structure of the combined entity because the pro forma fees would not be materially different pre- and post-Mergers, (ii) determined that the Mergers would not result in a material change in the Private Funds' investment portfolio due to investment restrictions and (iii) determined that there are no material differences in accounting policies between the Company and the Private Funds.

The financial statements of each of the Private Funds required to be provided herein are filed as Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, 99.6, 99.7 and 99.8 and incorporated into this Item 9.01(a) by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| 2.1 | [Agreement and Plan of Merger, dated as of September 5, 2025, by and between and Remora Capital Corporation and Remora Capital Partners I, LP (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex2-1_remora.htm) |
| 2.2 | [Agreement and Plan of Merger, dated as of September 5, 2025, by and between and Remora Capital Corporation and Remora Capital Partners II, LP (incorporated by reference to Exhibit 2.2 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex2-2_remora.htm) |
| 2.3 | [Agreement and Plan of Merger, dated as of September 5, 2025, by and between and Remora Capital Corporation and Remora Capital Partners I QP LP (incorporated by reference to Exhibit 2.3 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex2-3_remora.htm) |
| 2.4 | [Agreement and Plan of Merger, dated as of September 5, 2025, by and between and Remora Capital Corporation and Remora Capital Partners II QP, LP (incorporated by reference to Exhibit 2.4 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex2-4_remora.htm) |
| 10.1 | [Investment Management Agreement, dated as of September 5, 2025, between Remora Capital Corporation and Remora Capital Management LLC (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-1_remora.htm) |
| 10.2 | [Investment Management Agreement, dated as of April 25, 2024, by and between Remora Capital Management, LLC and KAPC Manager, L.P., as amended by Amendment No. 1 to the Investment Management Agreement, dated as of September 5, 2025, by and between Remora Capital Corporation, Remora Capital Management, LLC, KAPC Manager, L.P., and Kayne Anderson Capital Advisors, L.P. (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-2_remora.htm) |
| 10.3 | [Investment Sub-Advisory Agreement, dated as of September 5, 2025, between Remora Capital Corporation, Remora Capital Management, LLC, and Crescent Capital Group LP (incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-3_remora.htm) |
| 10.4 | [Loan Sourcing and Other Services Agreement, dated as of September 5, 2025, by and among Remora Capital Corporation, Remora Capital Management, LLC and Eldridge Credit Advisers, LLC (incorporated by reference to Exhibit 10.4 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-4_remora.htm) |
| 10.5 | [Administration Agreement, dated as of September 5, 2025, between Remora Capital Corporation and Remora Capital Management, LLC (incorporated by reference to Exhibit 10.5 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-5_remora.htm) |
| 10.6 | [Sub-Administrative Services Agreement, dated as of September 5, 2025, by and between Remora Capital Corporation and Crescent Capital Group LP (incorporated by reference to Exhibit 10.6 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-6_remora.htm) |
| 10.7 | [License Agreement, dated as of September 5, 2025, by and between Remora Capital Corporation and Remora Capital Management, LLC (incorporated by reference to Exhibit 10.7 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-7_remora.htm) |
| 10.8 | [Revolving Credit and Security Agreement, dated as of September 5, 2025, by and among RCC SPV, LLC, Remora Capital Corporation, Atlas Securitized Products Administration, L.P., Atlas Securitized Products, L.P., U.S. Bank Trust Company, National Association, U.S. Bank National Association, each of the managing agents party thereto from time to time, and each of the conduit lenders and institutional lenders party thereto from time to time (incorporated by reference to Exhibit 10.8 to the Company's Current Report on Form 8-K, filed on September 11, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025086850/ea025673001ex10-8_remora.htm) |
| 99.1 | [Financial Statements of Remora Capital Partners I, LP as of December 31, 2024 (Audited) (incorporated by reference to the Company's Registration Statement on Form 10-12G/A, filed on July 28, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025067875/ea0249146-1012ga1_remora.htm#f2_002) |
| 99.2\* | [Financial Statements of Remora Capital Partners I, LP as of June 30, 2025 (Unaudited)](ea026526501ex99-2_remora.htm) |
| 99.3 | [Financial Statements of Remora Capital Partners II, LP as of December 31, 2024 (Audited) (incorporated by reference to the Company's Registration Statement on Form 10-12G/A, filed on July 28, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025067875/ea0249146-1012ga1_remora.htm#f6_001) |
| 99.4\* | [Financial Statements of Remora Capital Partners II, LP as of June 30, 2025 (Unaudited)](ea026526501ex99-4_remora.htm) |
| 99.5 | [Financial Statements of Remora Capital Partners I QP LP as of December 31, 2024 (Audited) (incorporated by reference to the Company's Registration Statement on Form 10-12G/A, filed on July 28, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025067875/ea0249146-1012ga1_remora.htm#f4_001) |
| 99.6\* | [Financial Statements of Remora Capital Partners I QP LP as of June 30, 2025 (Unaudited)](ea026526501ex99-6_remora.htm) |
| 99.7 | [Financial Statements of Remora Capital Partners II QP, LP as of December 31, 2024 (Audited) (incorporated by reference to the Company's Registration Statement on Form 10-12G/A, filed on July 28, 2025)](https://www.sec.gov/Archives/edgar/data/2045370/000121390025067875/ea0249146-1012ga1_remora.htm#f8_001) |
| 99.8\* | [Financial Statements of Remora Capital Partners II QP, LP as of June 30, 2025 (Unaudited)](ea026526501ex99-8_remora.htm) |
| 99.9\* | [Fee and Expense Information](ea026526501ex99-9_remora.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Filed herewith

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  | **Remora Capital Corporation** | **Remora Capital Corporation** | **Remora Capital Corporation** |
| Date: November 20, 2025 | By: | /s/ Daniel Mafrice | /s/ Daniel Mafrice |
|  |  | **Name:** | Daniel Mafrice |
|  |  | **Title:** | President, Chief Executive Officer, and Interim Chief Financial Officer |

---

## Exhibit 99.2

**Exhibit 99.2**

**REMORA CAPITAL PARTNERS I LP AND SUBSIDIARIES**

CONSOLIDATED FINANCIAL STATEMENTS

UNAUDITED

June 30, 2025

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF FINANCIAL CONDITION**

---

| | |
|:---|:---|
|  | **As of**<br>**June 30,<br> 2025** |
| **Assets** | |
| Loans funded, at fair value (cost of $26,655,738.78) | $26425478 |
| Cash and cash equivalents | 505937 |
| Financing costs (net of accumulated amortization of $102,138) | 67003 |
| Interest receivable | 111761 |
| Other assets | 77656 |
| &nbsp;&nbsp;&nbsp;Total assets | $27187836 |
| **Liabilities and partners' capital** |  |
| Liabilities |  |
| Senior secured credit facility | $12700000 |
| Due to related party | 73191 |
| Capital withdrawals payable | 329190 |
| Reserve for bad debts | 45283 |
| Interest payable | 68445 |
| Accrued expenses | 72489 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 13288598 |
| Partners' capital | 13899239 |
| &nbsp;&nbsp;&nbsp;Total liabilities and partners' capital | $27187836 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Aerospace & Defense** |  |  | | |  | | | | |
| Aero 3, Inc. | First lien senior secured loan | S+ | 5.00% |  | 12/23/2026 | 406320 | 405321 | 406320 |  |
| Aero 3, Inc. | First lien senior secured loan | S+ | 5.00% |  | 12/23/2026 | 278980 | 277681 | 278980 |  |
| JA Moody LLC | First lien senior secured revolving loan | S+ | 5.00% |  | 11/29/2029 | 1672 | 1672 | 1672 |  |
| JA Moody LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.00% |  | 11/29/2029 |  |  |  |  |
| PAG Holding Corp. | First lien senior secured loan | S+ | 4.75% |  | 12/22/2029 | 483318 | 477082 | 483318 |  |
| PAG Holding Corp. | First lien senior secured revolving loan | S+ | 4.75% |  | 12/22/2029 | 3127 | 3127 | 3127 |  |
| PAG Holding Corp. | First lien senior secured delayed draw term loan | S+ | 4.75% |  | 12/22/2029 | 30773 | 30773 | 30773 |  |
| RTC Aerospace Opcos, LLC | First lien senior secured loan | S+ | 5.25% |  | 3/8/2027 | 269613 | 268957 | 269613 |  |
|  |  |  |  |  |  |  | 1464612 | 1473804 | 10.6% |
| **Air Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| US Pack Logistics LLC | First lien senior secured loan | S+ | 6.50% |  | 5/25/2026 | 189802 | 188475 | 189802 |  |
|  |  |  |  |  |  |  | 188475 | 189802 | 1.4% |
| **Auto Components** |  |  |  |  |  |  |  |  |  |
| MOP-Cloyes, Inc. | First lien senior secured loan | S+ | 5.75% |  | 2/17/2028 | 452635 | 447154 | 452635 |  |
|  |  |  |  |  |  |  | 447154 | 452635 | 3.3% |
| **Automobiles** |  |  |  |  |  |  |  |  |  |
| CAP-KSI Holdings, LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 6/28/2030 | 23547 | 23547 | 23547 |  |
| CentralBDC Enterprises, LLC | First lien senior secured loan | S+ | 5.25% |  | 6/11/2029 | 580809 | 575155 | 580809 |  |
| CentralBDC Enterprises, LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 6/11/2029 | 18773 | 18773 | 18773 |  |
|  |  |  |  |  |  |  | 617475 | 623129 | 4.5% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Building Products** |  |  |  |  |  |  |  |  |  |
| LGC US Finco, LLC | First lien senior secured loan | S+ | 6.50% |  | 12/20/2025 | 416464 | 414186 | 416464 |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured loan | S+ | 5.00% |  | 11/12/2030 | 475520 | 470189 | 475520 |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 11/12/2030 |  |  |  |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured delayed draw term loan | S+ | 5.00% |  | 11/12/2030 | 18120 | 18120 | 18120 |  |
|  |  |  |  |  |  |  | 902495 | 910104 | 6.5% |
| **Chemicals** |  |  |  |  |  |  |  |  |  |
| Zep Holdco Inc. | First lien senior secured loan | S + | 5.00% |  | 6/30/2031 | 696661 | 688500 | 688683 |  |
|  |  |  |  |  |  |  | 688500 | 688683 | 5.0% |
| **Commercial Services & Supplies** |  |  |  |  |  |  |  |  |  |
| Case FMS, LLC | First lien senior secured loan | S+ | 5.50% |  | 12/15/2027 | 316925 | 315224 | 316925 |  |
| Cultural Experiences Abroad, LLC | First lien senior secured revolving loan (5) | S+ | 6.00% |  | 8/16/2028 |  |  |  |  |
| Prisma Graphic, LLC | First lien senior secured loan | S+ | 6.50% |  | 7/29/2027 | 529204 | 525327 | 529204 |  |
| Safety Management Group, LLC | First lien senior secured loan | S+ | 5.50% |  | 2/25/2027 | 202217 | 201813 | 202217 |  |
|  |  |  |  |  |  |  | 1042365 | 1048346 | 7.5% |
| **Construction & Engineering** |  |  |  |  |  |  |  |  |  |
| PRIME ABA HOLDINGS, INC. | First lien senior secured revolving loan | S+ | 5.75% |  | 9/16/2030 |  |  |  |  |
| PRIME ABA HOLDINGS, INC. | First lien senior secured delayed draw term loan | S+ | 5.75% |  | 9/16/2030 | 17568 | 17568 | 17568 |  |
| Rose Paving, LLC | First lien senior secured loan | S+ | 5.00% |  | 11/7/2029 | 617088 | 610478 | 617088 |  |
| Rose Paving, LLC | First lien senior secured revolving loan | S+ | 5.00% |  | 11/7/2029 | 31988 | 31988 | 31988 |  |
| Rose Paving, LLC | First lien senior secured delayed draw term loan | S+ | 5.00% |  | 11/7/2029 | 27972 | 27972 | 27972 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S+ | 5.00% |  | 8/30/2027 | 375619 | 373564 | 375619 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S+ | 5.00% |  | 8/31/2027 | 88514 | 87653 | 88514 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S+ | 5.00% |  | 8/31/2027 | 29016 | 28767 | 29016 |  |
|  |  |  |  |  |  |  | 1177990 | 1187766 | 8.5% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Diversified Consumer Services** |  |  |  |  |  |  |  |  |  |
| Talent Worldwide Inc. | First lien senior secured loan | S+ | 6.25% |  | 12/18/2029 | 590904 | 581106 | 590904 |  |
| Talent Worldwide Inc. | First lien senior secured revolving loan | S+ | 6.25% |  | 12/18/2029 | 10868 | 10862 | 10868 |  |
|  |  |  |  |  |  |  | 591968 | 601772 | 4.3% |
| **Diversified Financial Services** |  |  |  |  |  |  |  |  |  |
| Aite Group, LLC | First lien senior secured loan | S+ | 5.50% | 1.0% | 6/9/2027 | 252577 | 252124 | 252350 |  |
| EdgeCo Buyer, Inc. | First lien senior secured loan | S+ | 4.50% |  | 6/1/2028 | 201612 | 201336 | 201612 |  |
| Engage FI, LLC | First lien senior secured loan | S+ | 4.50% |  | 12/10/2026 | 105273 | 105273 | 105273 |  |
|  |  |  |  |  |  |  | 558733 | 559235 | 4.0% |
| **Electrical Equipment** |  |  |  |  |  |  |  |  |  |
| Douglas Electrical Components, Inc. | First lien senior secured loan | S+ | 4.75% |  | 8/31/2028 | 331858 | 329460 | 331858 |  |
| Douglas Electrical Components, Inc. | First lien senior secured loan | S+ | 4.75% |  | 8/31/2028 | 345892 | 343949 | 345892 |  |
| Douglas Electrical Components, Inc. | First lien senior secured revolving loan | S+ | 4.75% |  | 8/31/2028 |  | - | - |  |
|  |  |  |  |  |  |  | 673409 | 677750 | 4.9% |
| **Food & Staples Retailing** |  |  |  |  |  |  |  |  |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured loan | S+ | 5.75% |  | 12/28/2029 | 484065 | 477825 | 484065 |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured revolving loan | S+ | 5.75% |  | 12/28/2029 | 2143 | 2143 | 2143 |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.75% |  | 12/28/2029 |  |  |  |  |
| QVF Acquisition, Inc. | First lien senior secured revolving loan | S+ | 5.25% |  | 12/23/2030 | 5016 | 5016 | 5016 |  |
| QVF Acquisition, Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 12/23/2030 |  |  |  |  |
| QVF Acquisition, Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 12/23/2030 |  | - | - |  |
|  |  |  |  |  |  |  | 484984 | 491224 | 3.5% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| One Stop Mailing LLC | First lien senior secured loan | S+ | 6.25% |  | 5/7/2027 | 369443 | 367490 | 369443 |  |
|  |  |  |  |  |  |  | 367490 | 369443 | 2.7% |
| **Health Care Equipment & Supplies** |  |  |  |  |  |  |  |  |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured loan | S+ | 5.75% |  | 7/2/2030 | 487462 | 484453 | 487462 |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured revolving loan | S+ | 5.75% |  | 7/2/2030 |  |  |  |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.75% |  | 7/2/2030 |  |  |  |  |
| Modular Devices Acquisition, LLC | First lien senior secured loan | S+ | 5.75% |  | 12/28/2026 | 472234 | 469978 | 472234 |  |
| Modular Devices Acquisition, LLC | First lien senior secured revolving loan | S+ | 5.75% |  | 12/28/2026 | 2961 | 2961 | 2961 |  |
| Modular Devices Acquisition, LLC | First lien senior secured delayed draw term loan | S+ | 5.75% |  | 12/28/2026 | 6881 | 6881 | 6881 |  |
| Modular Devices Acquisition, LLC | First lien senior secured capital equipment loan | S+ | 5.75% |  | 12/28/2026 | 6097 | 6097 | 6097 |  |
|  |  |  |  |  |  |  | 970369 | 975634 | 7.0% |
| **Health Care Providers & Services** |  |  |  |  |  |  |  |  |  |
| Caravel Autism Health, LLC | First lien senior secured loan | S+ | 4.75% |  | 6/11/2030 | 132182 | 130562 | 132182 |  |
| Houseworks Holdings, LLC | First lien senior secured loan | S+ | 5.25% |  | 12/16/2028 | 282034 | 279859 | 282034 |  |
| Houseworks Holdings, LLC | First lien senior secured loan | S+ | 5.25% |  | 12/16/2028 | 406909 | 401554 | 406909 |  |
| MAS Medical Staffing LLC | First lien senior secured loan | S+ | 6.00% | 1.0% | 5/27/2026 | 370894 | 370432 | 370894 |  |
| Science Care Parent Inc. | First lien senior secured loan | S+ | 5.25% |  | 7/23/2027 | 381330 | 379009 | 381330 |  |
| Science Care Parent Inc. | First lien senior secured loan | S+ | 5.25% |  | 7/23/2027 | 346989 | 345053 | 346989 |  |
| Science Care Parent Inc. | First lien senior secured revolving loan (5) | S+ | 5.25% |  | 7/23/2027 |  |  |  |  |
| Science Care Parent Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 7/23/2027 | 1022 | 1022 | 1022 |  |
|  |  |  |  |  |  |  | 1907490 | 1921360 | 13.8% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Health Care Technology** |  |  |  |  |  |  |  |  |  |
| Advent Home Medical LLC | First lien senior secured loan | S+ | 5.75% |  | 3/4/2026 | 337977 | 337719 | 337977 |  |
| Sentrics, Inc. | First lien senior secured loan | S+ | 5.50% | 2% | 12/11/2026 | 277296 | 276691 | 271751 |  |
| Unlock Health, Inc. | First lien senior secured loan | S+ | 6.50% |  | 2/3/2028 | 448261 | 446252 | 448261 |  |
|  |  |  |  |  |  |  | 1060662 | 1057989 | 7.6% |
| **Hotels, Restaurants & Leisure** |  |  |  |  |  |  |  |  |  |
| NTM Acquisition Corp. | First lien senior secured loan | S+ | 6.75% |  | 6/18/2026 | 572392 | 569551 | 572392 |  |
| NTM Acquisition Corp. | First lien senior secured revolving loan | S+ | 6.75% |  | 6/18/2026 |  | - | - |  |
|  |  |  |  |  |  |  | 569551 | 572392 | 4.1% |
| **Household Products** |  |  |  |  |  |  |  |  |  |
| TPC US Parent, LLC | First lien senior secured loan | S+ | 5.75% |  | 11/22/2025 | 672817 | 670083 | 672817 |  |
|  |  |  |  |  |  |  | 670083 | 672817 | 4.8% |
| **Insurance** |  |  |  |  |  |  |  |  |  |
| VALE Insurance Partners | First lien senior secured loan | S+ | 5.25% |  | 12/1/2027 | 268911 | 268083 | 268911 |  |
|  |  |  |  |  |  |  | 268083 | 268911 | 1.9% |
| **Interactive Media & Services** |  |  |  |  |  |  |  |  |  |
| Boostability Parent, Inc. | First lien senior secured revolving loan (5) | S+ | 5.25% |  | 7/12/2029 |  |  |  |  |
| CyberRisk Alliance, LLC | First lien senior secured loan | S+ | 7.00% |  | 10/24/2027 | 202272 | 201125 | 202272 |  |
| Exec Connect Intermediate LLC | First lien senior secured loan | S+ | 5.25% |  | 3/11/2029 | 245064 | 242032 | 245064 |  |
| Exec Connect Intermediate LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 3/11/2029 |  |  |  |  |
| Exec Connect Intermediate LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 3/11/2029 |  |  |  |  |
| MMGY Corporation | First lien senior secured loan | S+ | 5.50% |  | 4/26/2029 | 178721 | 176307 | 178721 |  |
|  |  |  |  |  |  |  | 619464 | 626057 | 4.5% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **IT Services** |  |  |  |  |  |  |  |  |  |
| Coastal Cloud LLC | First lien senior secured loan | S+ | 4.50% |  | 6/1/2027 | 297698 | 295710 | 297698 |  |
| Crosslake Intermediate, LLC | First lien senior secured loan | S+ | 5.00% |  | 5/17/2029 | 276159 | 272712 | 276159 |  |
| Crosslake Intermediate, LLC | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 5/17/2029 |  |  |  |  |
| Focal Point Solutions Group, LLC | First lien senior secured loan | S+ | 5.75% | 0.50% | 7/15/2027 | 273023 | 272172 | 273023 |  |
| iVision Scale, LLC | First lien senior secured loan | S+ | 6.50% |  | 8/17/2026 | 430198 | 428674 | 430198 |  |
| The Channel Company, Inc. | First lien senior secured loan | S+ | 2.50% | 4.25% | 11/1/2027 | 214665 | 213465 | 119246 |  |
|  |  |  |  |  |  |  | 1482734 | 1396324 | 10.0% |
| **Life Sciences Tools and Services** |  |  |  |  |  |  |  |  |  |
| Astrix Technology, LLC | First lien senior secured loan | S+ | 5.00% |  | 12/21/2026 | 406473 | 405093 | 406473 |  |
|  |  |  |  |  |  |  | 405093 | 406473 | 2.9% |
| **Machinery** |  |  |  |  |  |  |  |  |  |
| All States Ag Parts, LLC | First lien senior secured loan | S+ | 6.26% | 0.50% | 9/1/2026 | 139842 | 139809 | 139842 |  |
| EDGE Intermediate, LLC | First lien senior secured loan | S+ | 5.25% |  | 6/5/2029 | 292032 | 290346 | 292032 |  |
| EDGE Intermediate, LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 6/5/2029 | 6316 | 6316 | 6316 |  |
| VP Heron Parent, Inc. | First lien senior secured loan | S+ | 5.75% |  | 1/8/2029 | 574329 | 570810 | 574329 |  |
| VP Heron Parent, Inc. | First lien senior secured revolving loan (5) | S+ | 5.75% |  | 1/8/2029 |  | - | - |  |
|  |  |  |  |  |  |  | 1007281 | 1012519 | 7.3% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Media** |  |  |  |  |  |  |  |  |  |
| ALM Global, LLC | First lien senior secured revolving loan | S+ | 5.50% |  | 2/21/2029 | 743 | 743 | 743 |  |
| Berlin Rosen Acquisition, LLC | First lien senior secured loan | S+ | 5.50% |  | 1/14/2027 | 540191 | 536066 | 540191 |  |
| CF512, Inc. | First lien senior secured loan | S+ | 6.25% |  | 9/1/2026 | 360844 | 360032 | 360934 |  |
| Equine Network, LLC | First lien senior secured loan | S+ | 6.50% |  | 5/22/2028 | 547003 | 539737 | 547003 |  |
| H Code Media, Inc. | First lien senior secured loan | S+ | 6.50% |  | 11/24/2028 | 327461 | 324051 | 327461 |  |
| MarketCast Holdings, LLC | First lien senior secured loan | S+ | 6.15% |  | 11/15/2025 | 439359 | 439008 | 400871 |  |
| MeritDirect LLC | First lien senior secured loan | S+ | 5.75% |  | 6/30/2026 | 351624 | 351624 | 351624 |  |
|  |  |  |  |  |  |  | 2551261 | 2528826 | 18.2% |
| **Professional Services** |  |  |  |  |  |  |  |  |  |
| DeWinter LLC | First lien senior secured loan | S+ | 6.75% |  | 2/28/2026 | 402609 | 401433 | 402609 |  |
| Escalon Services, LLC | First lien senior secured loan | S+ | 1.26% | 6.0% | 10/13/2028 | 427232 | 425578 | 342597 |  |
| FMS Financial Management Services LLC | First lien senior secured loan | S+ | 5.50% |  | 2/1/2027 | 133687 | 133425 | 133687 |  |
| FMS Financial Management Services LLC | First lien senior secured loan | S+ | 5.50% |  | 2/1/2027 | 44667 | 43798 | 44667 |  |
| MOXFIVE LLC | First lien senior secured revolving loan | S+ | 5.00% |  | 8/16/2029 |  |  |  |  |
| Pacific Purchaser, LLC | First lien senior secured loan | S+ | 6.25% |  | 10/2/2028 | 233216 | 231331 | 233216 |  |
| Penta Group, LLC | First lien senior secured loan | S+ | 4.75% |  | 6/21/2026 | 346243 | 345646 | 346243 |  |
| Providus MPS Buyer LLC | First lien senior secured loan | S+ | 5.00% |  | 8/16/2029 | 237024 | 235585 | 237024 |  |
| Providus MPS Buyer LLC | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 8/16/2029 |  | - | - |  |
|  |  |  |  |  |  |  | 1816796 | 1740044 | 12.5% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Real Estate Management & Development** |  |  |  |  |  |  |  |  |  |
| Continuum Companies, Inc. | First lien senior secured loan | S+ | 5.75% |  | 9/12/2027 | 286777 | 285476 | 286777 |  |
|  |  |  |  |  |  |  | 285476 | 286777 | 2.1% |
| **Road & Rail** |  |  |  |  |  |  |  |  |  |
| OTR Buyer, LLC | First lien senior secured loan | S+ | 5.50% |  | 8/31/2027 | 162601 | 161911 | 162601 |  |
|  |  |  |  |  |  |  | 161911 | 162601 | 1.2% |
| **Software** |  |  |  |  |  |  |  |  |  |
| 402 Ventures, LLC | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 9/26/2029 |  |  |  |  |
| Concord III, L.L.C. | First lien senior secured loan | S+ | 6.00% |  | 12/20/2028 | 651361 | 642429 | 651361 |  |
| Concord III, L.L.C. | First lien senior secured revolving loan | S+ | 6.00% |  | 12/20/2028 | 5747 | 5747 | 5747 |  |
| Exigo, LLC | First lien senior secured loan | S+ | 6.25% |  | 3/15/2027 | 375553 | 373963 | 375553 |  |
| Imagine Acquisitionco, Inc. | First lien senior secured loan | S+ | 5.00% |  | 11/16/2027 | 351065 | 350380 | 351065 |  |
| Imagine Acquisitionco, Inc. | First lien senior secured revolving loan | S+ | 5.00% |  | 11/16/2027 |  |  |  |  |
| MotionPoint Corporation | First lien senior secured loan | S+ | 6.00% |  | 3/31/2026 | 329055 | 328837 | 329055 |  |
| QM Buyer, Inc. | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 12/6/2030 |  |  |  |  |
| QM Buyer, Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.00% |  | 12/6/2030 |  |  |  |  |
| TriMech Acquisition Corp. | First lien senior secured loan | S+ | 4.75% |  | 3/10/2028 | 115709 | 115073 | 115709 |  |
|  |  |  |  |  |  |  | 1816430 | 1828490 | 13.2% |

---

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  | |  |  | |  |  |  |  |
| **First Lien Secured Debt** |  |  | | |  | | | | |
| **Specialty Retail** |  |  |  |  |  |  |  |  |  |
| Hub Pen Company, LLC | First lien senior secured loan | S+ | 5.25% |  | 12/31/2027 | 305651 | 301645 | 305651 |  |
|  |  |  |  |  |  |  | 301645 | 305651 | 2.2% |
| **Transportation and Logistics** |  |  |  |  |  |  |  |  |  |
| A. Stucki Company | First lien senior secured delayed draw term loan (5) | S+ | 4.75% |  | 3/27/2030 |  | - | - |  |
|  |  |  |  |  |  |  | - | - | 0.0% |
| **Transportation Infrastructure** |  |  |  |  |  |  |  |  |  |
| Site Services Acquisition, LLC | First lien senior secured loan | S+ | 5.00% |  | 3/1/2028 | 690956 | 683239 | 690956 |  |
|  |  |  |  |  |  |  | 684432 | 692897 | 5.0% |
| **Water Utilities** |  |  |  |  |  |  |  |  |  |
| Greenrise Technologies, LLC | First lien senior secured loan | S+ | 6.50% |  | 7/19/2029 | 679681 | 675632 | 679681 |  |
| Greenrise Technologies, LLC | First lien senior secured revolving loan | S+ | 6.50% |  | 7/19/2029 | 16344 | 16344 | 16344 |  |
| Greenrise Technologies, LLC | First lien senior secured delayed draw term loan (5) | S+ | 6.50% |  | 7/19/2029 |  | - | - |  |
|  |  |  |  |  |  |  | 691976 | 696025 | 5.0% |
| **Total Investments** |  |  |  |  |  |  | 26476388 | 26425478 | 190.0% |

---

(1) All portfolio company headquarters are based in the United States.

(2) There are no non-accrual nor non-income producing debt investments.
Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured
Overnight Financing Rate, or "S+", or Prime rate, or "P". The spread may change based on the type of rate used.
The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. SOFR loans
are typically indexed to a 30-day, 90-day or 180-day SOFR rates (1M S, 3M S, or 6M S, respectively) at the borrower's option. All
securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted.

(3) Principal is net of repayments. Cost is net of repayments and
accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding
on the loan.

(4) Valued based on our accounting policy. The value of all securities
was determined using significant unobservable inputs.

(5) The position is unfunded and no interest income is being earned
as of June 30, 2025. The position may earn a nominal unused facility fee on committed amounts. The Partnership had unfunded loan commitments
of $988,616 as of June 30, 2025.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF OPERATIONS**

---

| | |
|:---|:---|
|  | **For the**<br>**Six Months<br> Ended**<br>**June 30,<br> 2025** |
| **Investment income** | |
| &nbsp;&nbsp;&nbsp;Interest | $1384493 |
| &nbsp;&nbsp;&nbsp;Fees and other income | 4697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 1389190 |
| **Expenses** |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 424269 |
| &nbsp;&nbsp;&nbsp;Management fees | 129098 |
| &nbsp;&nbsp;&nbsp;Interest paid to sub-manager | 101556 |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 24383 |
| &nbsp;&nbsp;&nbsp;Fund administrator fees | 8467 |
| &nbsp;&nbsp;&nbsp;Professional fees and other | 48849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 736622 |
| **Net investment income** | 652568 |
| **Realized and unrealized appreciation on loans funded** |  |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation on loans funded | (95754) |
| **Net gain on loans funded** | (95754) |
| **Net income** | $556815 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' CAPITAL**

**For The Six Months Ended June 30, 2025**

---

| | | | |
|:---|:---|:---|:---|
|  | **General**<br>**Partner** | **Limited**<br>**Partners** |<br>**Total** |
| **Partners' capital**, beginning of year | $233103 | $13761889 | $13994992 |
| **Capital withdrawals** | (47) | (652521) | (652568) |
| **Allocation of net income** |  |  |  |
| &nbsp;&nbsp;&nbsp;Pro rata allocation | 40 | 556775 | 556815 |
| &nbsp;&nbsp;&nbsp;Carry amount allocation | 29428 | (29428) | - |
|  | 29468 | 527347 | 556815 |
| **Partners' capital**, end of period | $262524 | $13636714 | $13899239 |

---

*See accompanying notes to financial statements.*

 

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF CASH FLOWS**

---

| | |
|:---|:---|
| **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** |
| **Cash flow from operating activities** | |
| Net income | $556815 |
| Adjustments to reconcile net income to net cash used in operating activities: |  |
| &nbsp;&nbsp;&nbsp;Change in unrealized gain on investments | 95754 |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 24383 |
| &nbsp;&nbsp;&nbsp;Loans funded, net of principal repayments | (1004242) |
| &nbsp;&nbsp;&nbsp;Amortization of premium and accretion of discount, net | (69437) |
| &nbsp;&nbsp;&nbsp;Amortization of deferred financing cost | 18614 |
| &nbsp;&nbsp;&nbsp;Amortization of deferred organizational cost | 4571 |
| Changes in operating assets and liabilities: |  |
| &nbsp;&nbsp;&nbsp;Other assets | (63432) |
| &nbsp;&nbsp;&nbsp;Due from related party |  |
| &nbsp;&nbsp;&nbsp;Interest payable | (2802) |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | (25620) |
| Net cash used in operating activities | (431814) |
| **Cash flow from financing activities** |  |
| &nbsp;&nbsp;&nbsp;Senior secured credit facility | 1100000 |
| &nbsp;&nbsp;&nbsp;Capital distributions, net of capital distributions payable | (682648) |
| Net cash provided by financing activities | 417352 |
| Net change in cash | (14461) |
| Cash, beginning of year | 534764 |
| Cash, end of year | $520303 |
| Supplemental disclosure of noncash operating activities |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest during the year | 424269 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**1. Nature of the Entity and Its Operations**

Remora Capital Partners I, LP and its subsidiaries (the "Partnership") is a Delaware limited partnership which was organized in March 2021 and commenced operations November 16, 2021.

The Partnership's investment objective is to generate a stable fixed interest income stream and preserve capital through superior loan selection and risk mitigation. The Partnership has built a diversified portfolio of high-quality, senior secured loans to middle—market companies with headquarters or principal operations in the United States and Canada. The Partnership primarily establishes co-investment programs with loan originators or their affiliates to purchase loan assets (or participations in loan assets) on a secondary basis, and makes opportunistic secondary market purchases of loan assets. The Partnership (directly or via sub-manager agreements) may purchase loan assets as a co-lender or as a "club" lender, and may participate in loan syndications. The Partnership may also invest in other types of loans and debt securities, collateralized loan obligations, collateralized debt obligations and other securities, and invest in funds and other pooled investment vehicles managed by sub-managers.

The Partnership's activities are managed by Remora Capital Partners I GP, LLC (the "General Partner"). The General Partner has engaged Remora Capital Management, LLC (the "Manager") to serve as an investment advisor and manager for the Partnership, including with respect to the establishment of co-Investment programs and the selection, evaluation, retention and termination of co-investment partners and loan investments.

The General Partner is responsible for all management decisions on behalf of the Partnership and has discretionary authority over the Partnership's assets. Refer to the Partnership's Offering Memorandum for more information.

The Partnership conducts a continuing private offering of its Interests, which are sold to qualified investors. Investors must be "accredited investors" (as defined in Regulation D under the Securities Act) who are "qualified purchasers" (as defined in the Investment Company Act of 1940). The Partnership stopped accepting new investors on November 16, 2023.

 **2. Basis of Presentation**

Management has prepared these consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") on behalf of the Partnership. Since the Partnership is considered to be an investment company it follows the specialized accounting and reporting guidance of Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services – Investment Companies".

These consolidated financial statements were approved by management and available for issuance on October 31, 2025. Subsequent events have been evaluated through this date.

 **3. Principles of Consolidation**

The accompanying consolidated financial statements include the accounts of Remora Capital Partners I, LP and its wholly owned subsidiaries, RCP I Finance, LLC and RCP I SPV, LLC (collectively, the Partnership). All significant intercompany balances and transactions have been eliminated in consolidation.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

 **4. Summary of Significant Accounting Policies**

The Partnership carries its investments at fair value. Fair value is an estimate of the exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the security (i.e. the exit price at the measurement date). Fair value measurements are not adjusted for transaction costs. A fair value hierarchy provides for prioritizing inputs to valuation techniques used to measure fair value into three levels:

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| | |
|:---|:---|
| Level 1 | Observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities. Management may determine that a market is active even if the size of the position held is significant relative to trading volume. Accordingly, a large position in a single security traded in an active market is measured at the quoted market price not adjusted because of the size of the position relative to trading volume (blockage factor) even if the market's normal trading volume is not sufficient to absorb the quantity held and placing orders to sell the position in a single transaction might affect the quoted price. |

---

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| | |
|:---|:---|
| Level 2 | Inputs other than quoted market prices that are observable, either directly or indirectly, and reasonably available. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the Partnership. |

---

Level 3 Significant unobservable inputs used when there is little or no market activity. Unobservable inputs reflect the assumptions that the General Partner develops based on available information about what inputs market participants would use in valuing the asset or liability.

An asset or liability's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Availability of observable inputs can vary and is affected by a variety of factors. The General Partner uses judgment in determining the fair value of assets and liabilities. Level 3 assets and liabilities involve greater judgment than Level 1 or Level 2 assets and liabilities. The level of input used for valuing securities is not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Partnership's major categories of securities measured at fair value on a recurring basis are as follows:

<u>Loans Funded</u>

The Partnership presents its investments at fair value in accordance with FASB ASC Topic 820, Fair Value Measurements. ASC 820 outlines three acceptable valuation techniques: the market approach, cost approach, and income approach.

The Partnership calculates the fair value of its financial instruments and includes this additional information in the notes to the financial statements when the fair value is different than the carrying value of those financial instruments. At June 30, 2025, the fair values of the Partnership's financial instruments reasonably approximate the carrying values and no additional disclosure is necessary.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

 **5. Summary of Significant Accounting Policies** 

<u>Investment Income and Loan Fees</u>

Investment transactions are accounted for on a trade-date basis. Interest is recognized on the accrual basis and includes amortization of purchase discounts and premiums. Discounts and premiums to par value are accreted or amortized into interest income over the contractual life of the respective security. The amortized cost of the investments represents the original cost adjusted for the accretion and amortization of discounts and premiums, if any. If a loan is in default, interest is no longer accrued and any payments received are applied against the cost of the loan unless the loan agreement is amended. Per the terms of the loan agreements, the Partnership may receive loan fees with respect to each loan funded. The loan fees are non-refundable and are recognized as income when received.

<u>Income Taxes</u>

The Partnership does not record a provision for U.S. federal, state, or local income taxes because the partners report their share of the Partnership's income or loss on their income tax returns. However, certain non-United States dividend income may be subject to a tax at prevailing treaty or standard withholding rates with the applicable country or local jurisdiction. The Partnership files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states and foreign jurisdictions.

The Partnership is required to determine whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authority, based on the technical merits of the position. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authorities. Based on its analysis, the Partnership has determined that it has not incurred any liability for unrecognized tax benefits as of June 30, 2025. The Partnership does not expect that its assessment regarding unrecognized tax benefits will materially change over the next twelve months. However, the Partnership's conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, compliance with U.S. federal, U.S. state and foreign tax laws, and changes in the administrative practices and precedents of the relevant taxing authorities.

<u>Cash</u>

Substantially all the Partnership's cash is held by two financial institutions. Such deposits may, at times, exceed federally insured limits.

<u>Use of Estimates</u>

The preparation of consolidated financial statements in conformity with GAAP requires the Partnership's management to make estimates and assumptions in determining the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

<u>Deferred Financing Costs</u>

Deferred financing costs consist of fees and expenses paid in connection with the closing of the credit facility. These costs are capitalized at the time of payment and are amortized using the straight line method over the term of the credit facility. Capitalized deferred financing costs related to the credit facility are presented on the Consolidated Statement of Financial Condition.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

 **6. Fair Value Measurements**

The Partnership's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Partnership's significant accounting policies in Note 3. The following table presents information about the Partnership's assets measured at fair value as of June 30, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Loans funded at fair value** | | | | |
| &nbsp;&nbsp;&nbsp;Loans funded | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 26425478 | 26425478 |
| **Total Loans funded** | $- | $- | $26425478 | $26425478 |

---

The Partnership's policy is to recognize transfers in and out of each level of the fair value hierarchy as of the beginning of the period. For the six months ended June 30, 2025, there were no transfers in or transfers out of Level 1, 2 or 3. Refer to the detailed schedule of investments for investments listed by country and industry.

Investments within the Level 3 hierarchy totaling $26,425,478 were valued based on observable and unobservable but non-quantitative inputs as of June 30, 2025. As of June 30, 2025, the fair value is based on the cost basis plus amortized original issue discount, which represents the General Partner's estimate of net realizable value.

 **7. Truist Credit Facility**

On August 3, 2022, Remora Capital Partners I, LP and Remora Capital Partners I QP LP each formed a wholly owned special purpose entity (collectively the "SPEs"), called RCP I Finance, LLC ("RCP I SPE") and RCP I QP Finance, LLC ("RCP I QP SPE"), respectively. Substantially all of the loan assets of the partnerships, that were originated by and sourced via a sub-manager agreement with Maranon Capital, L.P. ("Maranon"), were contributed to the SPEs in order for the SPEs to jointly act as co-borrowers of a revolving credit facility for up to $60.0 million (the "Truist Credit Facility") with Truist Bank (formerly SunTrust Bank), acting as administrative agent, Maranon, acting as collateral manager, and Deutsche Bank Trust Company acting as both collateral agent and collateral administrator. Subsequently, on March 15, 2023, lenders under the Truist Credit Facility increased their commitments and the Partnership's borrowing capacity by $10 million to a total of $70 million, subject to leverage and borrowing base restrictions. Subsequently, on February 22, 2024, lenders under the Truist Credit Facility increased their commitments and the Partnership's borrowing capacity by $33 million to a total of $103 million, subject to leverage and borrowing base restrictions.

As of June 30, 2025, 2025, RCP I QP SPE and RCP I SPE had jointly borrowed $78.0 million and $12.7 million, respectively, in outstanding borrowings under the Truist Credit Facility. The Truist Credit Facility had an interest rate of 6.6%, exclusive of the fee on undrawn commitment, upfront deferred financing costs and ticking fees for subsequent borrowings, as of June 30, 2025. The Truist Credit Facility is a revolving facility with a stated maturity date of August 3, 2027 and pricing set at 220 basis points over one-month SOFR (or an alternative risk-free floating interest rate index) plus a 10 basis point credit spread adjustment. As of June 30, 2025, the SPEs had $12.3 million of unused borrowing capacity under the Truist Credit Facility, subject to leverage and borrowing base restrictions. The Truist Credit Facility is secured by all of the assets of the SPEs, which represents substantially all of the assets underwritten and secured via a sub-manager agreement with Maranon. Assets secured as a co-lender or via other co-investment programs are not collateral for the Truist Credit Facility. As of June 30, 2025, the Partnership was in compliance with the terms of the Truist Credit Facility.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

 **8. Investment Risk**

The Partnership's investing activities expose it to various types of risks that are associated with the markets and financial instruments in which it invests. The significant types of financial risks to which the Partnership is exposed include, but are not limited to, market risk, credit risk, liquidity risk and interest rate risk.

<u>Market Risk</u>

Market risk encompasses the potential for both losses and gains and includes, but is not limited to, price risk. The Partnership's investments are long-term and illiquid and there is no assurance that the Partnership will achieve investment objectives including targeted returns.

<u>Credit Risk</u>

The value of the Partnership's investments will generally fluctuate in response to company, political, or economic developments and can decline significantly over short periods of time or during periods of general or regional economic difficulty. Lower-quality debt securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. Lower-quality debt securities can be thinly traded or have restrictions on resale, making them difficult to sell at an acceptable price. The default rate for lower-quality debt securities is likely to be higher during economic recessions or periods of high interest rates.

<u>Liquidity Risk</u>

The Partnership generally invests in loans and debt securities of private companies. Substantially all of these securities are subject to legal and other restrictions on resale or will be otherwise less liquid than publicly traded securities. The illiquidity of its investments may make it difficult for the Partnership to sell such investments if the need arises. In addition, if the Partnership is required to liquidate all or a portion of its portfolio quickly, the Partnership may realize significantly less than the value at which it had previously recorded its investments. The extent of this exposure is reflected in the carrying value of these financial assets and recorded in the Consolidated Statement of Financial Condition. Further, the Partnership may face other restrictions on its ability to liquidate an investment in a portfolio company to the extent that it, or an affiliated manager, has material non-public information regarding such portfolio company. Among other things liquidity could be impaired by an inability to access secured and/or unsecured sources of financing.

<u>Interest Rate Risk</u>

The performance of the Partnership's investment income will generally fluctuate with, among other things, changes in prevailing interest rates, general economic conditions, changes in the credit market, credit quality, the size and composition of the assets in our portfolio developments or trends in any particular industry and the financial condition of the issuer and other business developments.

Interest rate sensitivity refers to the change in earnings that may result from changes in the level of interest rates. The Partnership also funds a portion of the Partnership's investments with borrowings and the Partnership's net investment income will be affected by the difference between the rate at which the Partnership invests and the rate at which the Partnership borrows. Accordingly, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on the Partnership's net investment income. As of June 30, 2025, 100% of the investments at fair value in the Partnership's portfolio were at variable rates, subject to interest rate floors. The Truist Credit Facility also bears interest at variable rates. Additionally, changes in market rates may result in declining yields upon reinvestment of excess cash balances.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

 **9. Related Party Transactions**

The Partnership pays a quarterly management fee to the Manager for providing investment management services to the Partnership as of the first business day of each quarter in advance equal to 0.25%-0.375% (1%-1.5% per annum) of the total principal amount of the partnership's portfolio investments (including borrowings used to acquire portfolio investments) as of the first business day of each quarter. The Manager, in its sole discretion, may agree to waive or reduce the management fee rate for certain limited partners. The Partnership incurred management fees of $129,098 for the six months ended June 30, 2025.

In addition to managing the Partnership, the General Partner also manages Remora Capital Partners I QP LP, a Delaware limited partnership ("RCP I QP'). The Partnership and RCP I QP operate as parallel fund investment vehicles that invest side-by-side pro-rata, based on available capital, in the same portfolio. The Partnership and RCP I QP have entered into a rebalancing agreement whereby, during the investment period, the investments are rebalanced based upon the beginning capital in each entity on a monthly basis to enable pro-rata investment in the same portfolio. The Partnership and its parallel fund both stopped raising new investor capital as of November 16, 2023, and the final rebalancing of the portfolio was completed in December 2023. Therefore, for the six months ended June 30, 2025, the Partnership did not transfer any loans to RCP I QP per the terms of the rebalancing agreement.

On December 15, 2023, the Partnership and RCP I QP entered into a revolving promissory note with Remora Capital Partners II, LP ("RCP II LP") and Remora Capital Partners II QP, LP ("RCP II QP LP") whereby either the Partnership and/or RCP I QP may make short-term advances ("Advances"), for a maximum of 60 days for each Advance, and up to a total principal amount of five million dollars. The borrowers may use to the funds to pay the purchase price of certain investments. The Advances bear interest daily non-compounded at an annual rate of 25 basis points plus the interest rate currently being earned on cash deposits of the Partnership's interest-bearing checking account with Bank of America (resulting in an applicable rate of 4.15% as of June 30, 2025). As of June 30, 2025, there was no outstanding balance related to this note.

 **10. Partners' Capital**

<u>Allocations of Profits and Losses</u>

Profits and losses are generally allocated among the partners in accordance with their respective ownership interests at the time such amounts are recognized for financial reporting purposes under U.S. GAAP. Such amounts may differ significantly from amounts reported for income tax purposes.

<u>Capital Contributions and Withdrawals</u>

To the extent the General Partner determines, in its sole discretion, that the Partnership has available liquidity, with at least forty-five (45) days' prior written notice, a limited partner may withdraw all of their capital account as of the last day of any quarter. Upon such withdrawal, a limited partner would receive 85% of their capital account value (90% of which is paid at withdrawal and the remaining 10% is paid after the completion of the next annual audit) and the Partnership would retain the additional 15% early withdrawal penalty. The General Partner may waive these withdrawal restrictions for any limited partner.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**10. Partners' Capital** *(concluded)*

All net distributable proceeds shall be paid or distributed, as defined in the Limited Partnership Agreement in the following order of priority:

*first*, one hundred percent (100%) to such limited partner until such limited partner has received cumulative distributions of investment proceeds equal to its aggregate capital contributions;

*second*, one hundred percent (100%) to such limited partner until cumulative distributions of investment proceeds to such limited partner are sufficient to provide such limited partner with an internal rate of return of six percent (6%) per annum, compounded annually, with respect to such limited partner's aggregate capital contributions, calculated from the date each such capital contribution was funded until the date of distribution thereof;

*third*, one hundred percent (100%) to the General Partner until such time as the General Partner has received distributions in respect of such limited partner equal to twenty percent (20%) of the sum of all distributions made to such limited partner in excess in excess of the limited partners aggregate capital contributions and all distributions to the General Partner with respect to amounts apportioned to such limited partner and,

*fourth*, eighty percent (80%) to such limited partner and twenty percent (20%) to the General Partner.

For the six months ended June 30, 2025, carried interest allocated to the General Partner was $29,428.

 **11. Fund Administrator** 

Panoptic Fund Administration, Inc. serves as the Partnership's administrator and performs certain administrative and clerical services on behalf of the Partnership.

 **12. Financial Highlights**

Financial highlights for the six months ended June 30, 2025 are as follows:

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| | |
|:---|:---|
| Total return | 4.10% |
| Carried interest | -0.20% |
| Total return after carried interest | 3.90% |
| Expense ratio | 5.20% |
| Carried interest ratio | 0.20% |
| Expense plus carried interest ratio | 5.40% |
| Net investment income ratio | 4.60% |

---

Financial highlights are calculated for the limited partner class taken as a whole. An individual limited partner's return and ratios may vary based on different management fee arrangements and the timing of capital transactions. The net investment income ratio does not reflect the effects of change in unearned carried interest to the General Partner.

**REMORA CAPITAL PARTNERS I, LP AND SUBSIDIARIES** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

 **13. Subsequent Events**

The Partnership has performed an evaluation of subsequent events through October 31, 2025, which is the date the consolidated financial statements were available to be issued.

On April 3, 2025, the General Partner and the Manager, began a consent solicitation to amend the limited partnership agreements of the Fund. As of April 30, 2025, a majority of the limited partners voted to approve the First Amendment to the Fund's Amended and Restated Limited Partnership Agreement. The First Amendment authorizes the Partnership, in the sole discretion of the General Partner, to convert to corporate form or otherwise restructure or reorganize for the purpose of electing (or for the purchaser of the assets of the Partnership or the surviving successor entity in the merger, restructuring or reorganization, as applicable) to elect to be regulated as a business development company (a "BDC") under the Investment Company Act (as defined in Section 2(c)).

Remora Capital Corporation (the "Company") was formed on October 1, 2024 as a Maryland corporation. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). In addition, the Company intends to elect to be treated for U.S. federal income tax purposes, and to qualify annually thereafter, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). The Company is externally managed by Remora Capital Management, LLC (the "Adviser" and "Remora"), a Delaware limited liability company that is registered as an investment adviser under the Investment Advisers Act of 1940, as amended. The Adviser oversees the management of the Company's activities and is responsible for making investment decisions with respect to the Company's portfolio.

On September 5, 2025, immediately prior to the Company electing to be regulated as a BDC (the "BDC Election"), each of Remora Capital Partners I, LP (the Partnership or "Fund I"), Remora Capital Partners II, LP ("Fund II"), Remora Capital Partners I QP LP ("Fund I QP"), and Remora Capital Partners II QP, LP ("Fund II QP" and collectively with Fund I, Fund II, and Fund I QP, the "Funds") merged with and into the Company (the "Mergers"). As a result of the Mergers, the Company issued 16,213,447.182 shares of common stock, par value $0.001 per share ("Common Stock"), 332,696 shares of preferred stock, par value $0.001 per share ("Preferred Stock"), and acquired a portfolio of assets consisting of $243 million of loans to 82 borrowers (including undrawn commitments of revolving credit facilities and delayed draw term loans), cash and other assets totaling $266.7 million, which had an aggregate net asset value ("NAV") of $165,461,431.82. After the Mergers, the Company made the BDC Election and commenced operations.

The description above is only a summary of the material provisions of the Merger Agreements and is qualified in its entirety by reference to copies of each of the Merger Agreements, which are filed as Exhibits 2.1, 2.2, 2.3, and 2.4 to the Company's current report on Form 8-K filed on September 11, 2025 and incorporated herein by reference.

On September 5, 2025, the Company refinanced the Truist Credit Facility and entered into a Revolving Credit and Security Agreement (the "Credit Facility Agreement") for a special purpose vehicle financing credit facility (the "Credit Facility") by and among RCC SPV, LLC ("RCC SPV") as borrower, the Company, as servicer, Atlas, as administrative agent, Atlas Securitized Products, L.P., as lead arranger, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as custodian and as document custodian, each of the managing agents party thereto from time to time, and each of the conduit lenders and institutional lenders party thereto from time to time. The Credit Facility provides for $150 million of initial commitments with (x) a committed accordion feature pursuant to which the commitments shall be increased to $250 million, at the Company's option with 15 business days' notice, or by no later than the first anniversary of the closing date of the Credit Facility, and (y) an uncommitted accordion feature that allows for commitments up to $500 million from new and existing lenders on the same terms as the existing commitments, subject to market conditions. Advances under the Credit Facility bear interest at one-month Term SOFR plus an applicable margin of 2.00% during the revolving period. Subject to certain performance conditions, the applicable margin could increase to 2.25% during the revolving period and could range up to 2.50% during the amortization or "End of Life Option" periods (as defined in the Credit Facility Agreement). The Credit Facility Agreement provides for an unused commitment fee of 0.50% per annum on the unused commitments up to 50% of the commitments and 0.75% on the unused commitments in excess of 50% of the commitments, as well as other customary fees, from the effective date of the Credit Facility through September 5, 2028. The Credit Facility matures on September 5, 2030; provided, however, that RCC SPV and Atlas may mutually agree to extend the maturity date to September 5, 2032 pursuant to the "End of Life Option" under the Credit Facility Agreement.

The description above is only a summary of the material provisions of the SPV Facility and is qualified in its entirety by reference to the copy of the Credit Agreement, which is filed as Exhibit 10.8 to the Company's current report on Form 8-K filed on September 11, 2025 and is incorporated herein by reference thereto.

## Exhibit 99.4

**Exhibit 99.4**

**REMORA CAPITAL PARTNERS II, LP**

CONSOLIDATED FINANCIAL STATEMENTS <br> UNAUDITED

JUNE 30, 2025

**REMORA CAPITAL PARTNERS II, LP**

**STATEMENT OF FINANCIAL CONDITION**

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| | |
|:---|:---|
|  | **As of**<br>**June 30, <br> 2025** |
| **Assets** | |
| Loans funded, at fair value (cost of $9,553,798) | $9541039 |
| Due from related party | 1506327 |
| Cash and cash equivalents | 728043 |
| Interest receivable | 29926 |
| Other assets | 22159 |
| &nbsp;&nbsp;&nbsp;Total assets | $11827494 |
| **Liabilities and partners' capital** |  |
| Liabilities |  |
| Capital distributions payable | $209603 |
| Reserve for bad debts | 41800 |
| Accrued expenses | 24680 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 276083 |
| Partners' capital | 11551411 |
| &nbsp;&nbsp;&nbsp;Total liabilities and partners' capital | $11827494 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS II, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Aerospace & Defense** |  |  | | | | | | | |
| JA Moody LLC | First lien senior secured loan | S + | 5.00% |  | 11/29/2029 | 154956 | 152561 | 154956 |  |
| PAG Holding Corp. | First lien senior secured loan | S + | 4.75% |  | 12/22/2029 | 114215 | 112511 | 114215 |  |
|  |  |  |  |  |  |  | 265072 | 269172 | 2.3% |
| **Air Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| US Pack Logistics LLC | First lien senior secured loan | S + | 6.50% |  | 5/25/2026 | 76865 | 76266 | 76865 |  |
|  |  |  |  |  |  |  | 76266 | 76865 | 0.7% |
| **Automobiles** |  |  |  |  |  |  |  |  |  |
| CAP-KSI Holdings, LLC | First lien senior secured loan | S + | 5.25% |  | 6/28/2030 | 219250 | 216506 | 219250 |  |
| CentralBDC Enterprises, LLC | First lien senior secured loan | S + | 5.25% |  | 6/11/2029 | 211994 | 209486 | 211994 |  |
|  |  |  |  |  |  |  | 425992 | 431244 | 3.7% |
| **Building Products** |  |  |  |  |  |  |  |  |  |
| LGC US Finco, LLC | First lien senior secured loan | S + | 6.50% |  | 12/20/2025 | 126078 | 125366 | 126078 |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured loan | S + | 5.00% |  | 11/12/2030 | 149903 | 147857 | 149903 |  |
|  |  |  |  |  |  |  | 273223 | 275981 | 2.4% |
| **Chemicals** |  |  |  |  |  |  |  |  |  |
| Zep Holdco Inc. | First lien senior secured loan | S + | 5.00% |  | 6/30/2031 | 414568 | 410422 | 410422 |  |
|  |  |  |  |  |  |  | 410422 | 410422 | 3.6% |
| **Commercial Services & Supplies** |  |  |  |  |  |  |  |  |  |
| Cultural Experiences Abroad, LLC | First lien senior secured loan | S + | 6.00% |  | 8/16/2028 | 273012 | 268623 | 273012 |  |
| Cultural Experiences Abroad, LLC | First lien senior secured loan | S + | 6.00% |  | 8/16/2028 | 64006 | 62875 | 64006 |  |
| Gator Plastic Intermediate Holdings, LLC | First lien senior secured loan | S + | 7.00% |  | 10/14/2027 | 112361 | 110304 | 111878 |  |
|  |  |  |  |  |  |  | 441802 | 448897 | 3.9% |
| **Construction & Engineering** |  |  |  |  |  |  |  |  |  |
| Patuxent Roofing and Contracting, LLC | First lien senior secured loan | S + | 5.50% | 1.0% | 4/22/2027 | 308145 | 303957 | 303956 |  |
| PRIME ABA HOLDINGS, INC. | First lien senior secured loan | S + | 4.75% |  | 9/16/2030 | 186958 | 183494 | 186958 |  |
| Puris LLC | First lien senior secured loan | S + | 5.75% |  | 6/30/2031 | 178689 | 177846 | 177846 |  |
| Rose Paving, LLC | First lien senior secured loan | S + | 5.00% |  | 11/7/2029 | 244838 | 241598 | 244838 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S + | 5.00% |  | 8/31/2027 | 83340 | 83340 | 83340 |  |
|  |  |  |  |  |  |  | 990234 | 996938 | 8.6% |
| **Diversified Consumer Services** |  |  |  |  |  |  |  |  |  |
| Talent Worldwide Inc. | First lien senior secured loan | S + | 6.25% |  | 12/18/2029 | 133390 | 130908 | 133390 |  |
| Talent Worldwide Inc. | First lien senior secured loan | S + | 6.25% |  | 12/18/2029 | 28306 | 27688 | 28306 |  |
|  |  |  |  |  |  |  | 158596 | 161696 | 1.4% |

---

**REMORA CAPITAL PARTNERS II, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Diversified Financial Services** |  |  | | | | | | | |
| Aite Group, LLC | First lien senior secured loan | S + | 5.50% | 1.0% | 6/9/2027 | 84462 | 84462 | 84386 |  |
| Global Holdings Interco LLC | First lien senior secured loan | S + | 5.50% |  | 9/16/2027 | 240117 | 236294 | 239297 |  |
|  |  |  |  |  |  |  | 320756 | 323683 | 2.8% |
| **Electrical Equipment** |  |  |  |  |  |  |  |  |  |
| Douglas Electrical Components, Inc. | First lien senior secured loan | S + | 4.75% |  | 8/31/2028 | 54439 | 53650 | 54439 |  |
|  |  |  |  |  |  |  | 53650 | 54439 | 0.5% |
| **Food & Staples Retailing** |  |  |  |  |  |  |  |  |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured loan | S + | 5.75% |  | 12/28/2029 | 117387 | 115629 | 117387 |  |
| QVF Acquisition, Inc. | First lien senior secured loan | S + | 5.25% |  | 12/23/2030 | 234961 | 231741 | 234961 |  |
|  |  |  |  |  |  |  | 347370 | 352348 | 3.1% |
| **Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| One Stop Mailing LLC | First lien senior secured loan | S + | 6.25% |  | 5/7/2027 | 83130 | 83130 | 83130 |  |
|  |  |  |  |  |  |  | 83130 | 83130 | 0.7% |
| **Health Care Equipment & Supplies** |  |  |  |  |  |  |  |  |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured loan | S + | 5.75% |  | 7/2/2030 | 164647 | 161900 | 164647 |  |
| Modular Devices Acquisition, LLC | First lien senior secured loan | S + | 5.75% |  | 12/28/2026 | 85870 | 84807 | 85870 |  |
|  |  |  |  |  |  |  | 246707 | 250517 | 2.2% |
| **Health Care Providers & Services** |  |  |  |  |  |  |  |  |  |
| Science Care Parent Inc. | First lien senior secured loan | S + | 5.25% |  | 7/23/2027 | 229265 | 227565 | 229265 |  |
|  |  |  |  |  |  |  | 227565 | 229265 | 2.0% |
| **Health Care Technology** |  |  |  |  |  |  |  |  |  |
| Advent Home Medical LLC | First lien senior secured loan | S + | 5.75% |  | 3/4/2026 | 55213 | 55213 | 55213 |  |
| Advent Home Medical LLC | First lien senior secured loan | S + | 5.75% |  | 3/4/2026 | 27916 | 27916 | 27916 |  |
|  |  |  |  |  |  |  | 83129 | 83129 | 0.7% |

---

**REMORA CAPITAL PARTNERS II, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Hotels, Restaurants & Leisure** |  |  |  |  |  |  |  |  |  |
| NTM Acquisition Corp. | First lien senior secured loan | S + | 6.75% |  | 6/18/2026 | 139082 | 138145 | 139082 |  |
|  |  |  |  |  |  |  | 138145 | 139082 | 1.2% |
| **Household Products** |  |  |  |  |  |  |  |  |  |
| TPC US Parent, LLC | First lien senior secured loan | S + | 5.75% |  | 11/22/2025 | 132057 | 131495 | 132057 |  |
|  |  |  |  |  |  |  | 131495 | 132057 | 1.1% |
| **Interactive Media & Services** |  |  |  |  |  |  |  |  |  |
| Boostability Parent, Inc. | First lien senior secured loan | S + | 5.25% |  | 7/12/2029 | 215740 | 212264 | 215740 |  |
| Exec Connect Intermediate LLC | First lien senior secured loan | S + | 5.25% |  | 3/11/2029 | 99965 | 98490 | 99965 |  |
|  |  |  |  |  |  |  | 310754 | 315705 | 2.7% |
| **IT Services** |  |  |  |  |  |  |  |  |  |
| Crosslake Intermediate, LLC | First lien senior secured loan | S + | 5.00% |  | 5/17/2029 | 112320 | 110583 | 112320 |  |
| Focal Point Solutions Group, LLC | First lien senior secured loan | S + | 5.75% | 0.50% | 7/15/2027 | 146523 | 145358 | 146523 |  |
|  |  |  |  |  |  |  | 255941 | 258842 | 2.2% |
| **Machinery** |  |  |  |  |  |  |  |  |  |
| All States Ag Parts, LLC | First lien senior secured loan | S + | 6.26% | 0.50% | 9/1/2026 | 81605 | 81605 | 81605 |  |
| EDGE Intermediate, LLC | First lien senior secured loan | S + | 5.25% |  | 6/5/2029 | 118147 | 116289 | 118147 |  |
| VP Heron Parent, Inc. | First lien senior secured loan | S + | 5.75% |  | 1/8/2029 | 120051 | 118148 | 120051 |  |
|  |  |  |  |  |  |  | 316041 | 319803 | 2.8% |
| **Media** |  |  |  |  |  |  |  |  |  |
| CF512, Inc. | First lien senior secured loan | S + | 6.25% |  | 9/1/2026 | 80865 | 80865 | 80865 |  |
| HH Global Finance Limited | First lien senior secured loan | S + | 6.18% |  | 2/25/2027 | 253916 | 253916 | 253916 |  |
|  |  |  |  |  |  |  | 334781 | 334781 | 2.9% |
| **Professional Services** |  |  |  |  |  |  |  |  |  |
| Envirotech Services, LLC | First lien senior secured loan | S + | 5.75% |  | 1/18/2029 | 336861 | 330993 | 336861 |  |
| MOXFIVE LLC | First lien senior secured loan | S + | 5.00% |  | 8/16/2029 | 204969 | 201584 | 204969 |  |
| MOXFIVE LLC | First lien senior secured loan | S + | 5.00% |  | 8/16/2029 | 159892 | 157357 | 159892 |  |
| Penta Group, LLC | First lien senior secured loan | S + | 4.75% |  | 6/21/2026 | 84337 | 84337 | 84337 |  |
| Providus MPS Buyer LLC | First lien senior secured loan | S + | 5.00% |  | 8/16/2029 | 247811 | 243718 | 247811 |  |
|  |  |  |  |  |  |  | 1017989 | 1033870 | 9.0% |

---

**REMORA CAPITAL PARTNERS II, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Software** |  |  |  |  |  |  |  |  |  |
| 402 Ventures, LLC | First lien senior secured loan | S + | 5.00% |  | 9/26/2029 | 250759 | 247576 | 250759 |  |
| Concord III, L.L.C. | First lien senior secured loan | S + | 6.00% |  | 12/20/2028 | 169928 | 167243 | 169928 |  |
| Exigo, LLC | First lien senior secured loan | S + | 6.25% |  | 3/15/2027 | 83557 | 83557 | 83557 |  |
| Imagine Acquisitionco, Inc. | First lien senior secured loan | S + | 5.00% |  | 11/16/2027 | 335943 | 335288 | 335943 |  |
| MotionPoint Corporation | First lien senior secured loan | S + | 6.00% |  | 3/31/2026 | 83442 | 83442 | 83442 |  |
| QM Buyer, Inc. | First lien senior secured loan | S + | 5.00% |  | 12/6/2030 | 224855 | 221799 | 224855 |  |
|  |  |  |  |  |  |  | 1138905 | 1148483 | 9.9% |
| **Trading companies & distributors** |  |  |  |  |  |  |  |  |  |
| AIDC IntermediateCo. 2, LLC | First lien senior secured loan | S + | 5.50% |  | 7/22/2027 | 250701 | 250701 | 250701 |  |
| Dusk Acquisition II Corporation | First lien senior secured loan | S + | 6.00% |  | 7/12/2029 | 336861 | 330976 | 336861 |  |
|  |  |  |  |  |  |  | 581677 | 587563 | 5.1% |
| **Transportation and Logistics** |  |  |  |  |  |  |  |  |  |
| A. Stucki Company | First lien senior secured loan | S + | 4.75% |  | 3/27/2030 | 309847 | 307644 | 307644 |  |
|  |  |  |  |  |  |  | 307644 | 307644 | 2.7% |
| **Transportation Infrastructure** |  |  |  |  |  |  |  |  |  |
| Site Services Acquisition, LLC | First lien senior secured loan | S + | 5.00% |  | 3/1/2028 | 335717 | 331953 | 335717 |  |
|  |  |  |  |  |  |  | 331953 | 335717 | 2.9% |
| **Water Utilities** |  |  |  |  |  |  |  |  |  |
| Greenrise Technologies, LLC | First lien senior secured loan | S + | 6.50% |  | 7/19/2029 | 179768 | 176854 | 179768 |  |
|  |  |  |  |  |  |  | 176854 | 179768 | 1.6% |
| **Total Investments** |  |  |  |  |  |  | 9446093 | 9541039 | 82.7% |

---

(1) All portfolio company headquarters are based in the United
States.

(2) There are no non-accrual nor non-income producing debt investments.
Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured
Overnight Financing Rate, or "S+", or Prime rate, or "P". The spread may change based on the type of rate used.
The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. SOFR loans are typically
indexed to a 30-day, 90-day or 180-day SOFR rates (1M S, 3M S, or 6M S, respectively) at the borrower's option. All securities
are subject to a SOFR or Prime rate floor where a spread is provided, unless noted.

(3) Principal is net of repayments. Cost is net of repayments
and accumulated unearned income.

(4) Valued based on our accounting policy. The value of all securities
was determined using significant unobservable inputs.

**REMORA CAPITAL PARTNERS II, LP**

**STATEMENT OF OPERATIONS**

---

| | |
|:---|:---|
|  | **For the <br> Six Months <br> Ended**<br>**June 30, <br> 2025** |
| **Investment income** | |
| &nbsp;&nbsp;&nbsp;Interest | $535283 |
| &nbsp;&nbsp;&nbsp;Fees and other income | 2211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 537494 |
| **Expenses** |  |
| &nbsp;&nbsp;&nbsp;Management fees | 48050 |
| &nbsp;&nbsp;&nbsp;Interest paid to sub-manager | 33935 |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 9269 |
| &nbsp;&nbsp;&nbsp;Fund administrator fees | 7244 |
| &nbsp;&nbsp;&nbsp;Professional fees and other | 19879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 118376 |
| **Net investment income** | 419118 |
| **Realized and unrealized appreciation on loans funded** |  |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation on loans funded | 13276 |
| **Net gain on loans funded** | 13276 |
| **Net income** | 432394 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS II, LP**

**STATEMENT OF CHANGES IN PARTNERS' CAPITAL**

**For The Six Months Ended June 30, 2025**

---

| | | | |
|:---|:---|:---|:---|
|  | **General**<br>**Partner** | **Limited**<br>**Partners** |<br>**Total** |
| **Partners' capital,** beginning of year | $30856 | $11507282 | $11538138 |
| **Capital withdrawals** | (73) | (419045) | (419118) |
| **Allocation of net income** |  |  |  |
| &nbsp;&nbsp;&nbsp;Pro rata allocation | 75 | 432316 | 432391 |
| &nbsp;&nbsp;&nbsp;Carry amount allocation | 6322 | (6322) | - |
|  | 6398 | 425993 | 432391 |
| **Partners' capital,** end of year | $37181 | $11514230 | $11551411 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS II, LP**

**STATEMENT OF CASH FLOWS**

**Six Months Ended June 30, 2025**

---

| | |
|:---|:---|
| **Cash flow from operating activities** | |
| Net income | $432394 |
| Adjustments to reconcile net income to net cash used in operating activities: |  |
| &nbsp;&nbsp;&nbsp;Change in unrealized gain on investments | (13276) |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 9269 |
| &nbsp;&nbsp;&nbsp;Loans funded, net of principal repayments | (1332320) |
| &nbsp;&nbsp;&nbsp;Net transfer of investments to related party | 2041821 |
| &nbsp;&nbsp;&nbsp;Amortization of premium and accretion of discount | (21511) |
| &nbsp;&nbsp;&nbsp;Amortization of deferred organizational cost | 2921 |
| Changes in operating assets and liabilities: |  |
| &nbsp;&nbsp;&nbsp;Interest receivable and other accounts receivable | 1784 |
| &nbsp;&nbsp;&nbsp;Other assets | (1489) |
| &nbsp;&nbsp;&nbsp;Due from related party | (231910) |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | (11818) |
| Net cash used in operating activities | 875864 |
| **Cash flow from financing activities** |  |
| &nbsp;&nbsp;&nbsp;Capital distributions, net of capital distributions payable | (436100) |
| Net cash provided by financing activities | (436100) |
| Net change in cash | 439764 |
| Cash, beginning of period | 288279 |
| Cash, end of period | $728043 |

---

*See accompanying notes to financial statements.*

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

1. Nature of the Entity and Its Operations

Remora Capital Partners II, LP (the "Partnership") is a Delaware limited partnership which was organized in May 2023 and commenced operations December 4, 2023.

The Partnership's investment objective is to generate a stable fixed interest income stream and preserve capital through superior loan selection and risk mitigation. The Partnership intends to build a diversified portfolio consisting primarily of high-quality, senior secured loans to middle—market companies with headquarters or principal operations in the United States and Canada. The Partnership primarily establishes co-investment programs with loan originators or their affiliates to purchase loan assets (or participations in loan assets) from originators or their affiliates on a secondary basis and makes opportunistic secondary market purchases of loan assets. The Partnership (directly or via sub-manager agreements) may purchase loan assets as a co-lender or as a "club" lender, and may participate in loan syndications. The Partnership may also invest in other types of loans and debt securities, collateralized loan obligations, collateralized debt obligations and other securities, and invest in funds and other pooled investment vehicles managed by sub-managers.

The Partnership's activities are managed by Remora Capital Partners II GP, LLC (the "General Partner"). The General Partner has engaged Remora Capital Management, LLC (the "Manager") to serve as an investment advisor and manager for the Partnership, including with respect to the establishment of co-Investment programs and the selection, evaluation, retention and termination of co-investment partners and loan investments.

The General Partner is responsible for all management decisions on behalf of the Partnership and has discretionary authority over the Partnership's assets. Refer to the Partnership's Offering Memorandum for more information.

The Partnership conducts a continuing private offering of its Interests, which are sold to qualified investors. Investors must be "accredited investors" (as defined in Regulation D under the Securities Act) who are "qualified purchasers" (as defined in the Investment Company Act of 1940).

**2. Basis of Presentation**

Management has prepared these consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") on behalf of the Partnership. Since the Partnership is considered to be an investment company it follows the specialized accounting and reporting guidance of Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services – Investment Companies".

These financial statements were approved by management and available for issuance on October 31, 2025. Subsequent events have been evaluated through this date.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**3. Summary of Significant Accounting Policies**

The Partnership carries its investments at fair value. Fair value is an estimate of the exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the security (i.e. the exit price at the measurement date). Fair value measurements are not adjusted for transaction costs. A fair value hierarchy provides for prioritizing inputs to valuation techniques used to measure fair value into three levels:

---

| | |
|:---|:---|
| Level 1 | Observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities. Management may determine that a market is active even if the size of the position held is significant relative to trading volume. Accordingly, a large position in a single security traded in an active market is measured at the quoted market price not adjusted because of the size of the position relative to trading volume (blockage factor) even if the market's normal trading volume is not sufficient to absorb the quantity held and placing orders to sell the position in a single transaction might affect the quoted price. |

---

---

| | |
|:---|:---|
| Level 2 | Inputs other than quoted market prices that are observable, either directly or indirectly, and reasonably available. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the Partnership. |

---

Level 3 Significant unobservable inputs used when there is little or no market activity. Unobservable inputs reflect the assumptions that the General Partner develops based on available information about what inputs market participants would use in valuing the asset or liability.

An asset or liability's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Availability of observable inputs can vary and is affected by a variety of factors. The General Partner uses judgment in determining the fair value of assets and liabilities. Level 3 assets and liabilities involve greater judgment than Level 1 or Level 2 assets and liabilities. The level of input used for valuing securities is not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Partnership's major categories of securities measured at fair value on a recurring basis are as follows:

<u>Loans Funded</u>

The Partnership presents its investments at fair value in accordance with FASB ASC Topic 820, Fair Value Measurements. ASC 820 outlines three acceptable valuation techniques: the market approach, cost approach, and income approach.

The Partnership calculates the fair value of its financial instruments and includes this additional information in the notes to the financial statements when the fair value is different than the carrying value of those financial instruments. At June 30, 2025, the fair values of the Partnership's financial instruments reasonably approximate the carrying values and no additional disclosure is necessary.

<u>Investment Income and Loan Fees</u>

Investment transactions are accounted for on a trade-date basis. Interest is recognized on the accrual basis and includes amortization of purchase discounts and premiums. Discounts and premiums to par value are accreted or amortized into interest income over the contractual life of the respective security. The amortized cost of the investments represents the original cost adjusted for the accretion and amortization of discounts and premiums, if any. If a loan is in default, interest is no longer accrued and any payments received are applied against the cost of the loan unless the loan agreement is amended. Per the terms of the loan agreements, the Partnership may receive loan fees with respect to each loan funded. The loan fees are non-refundable and are recognized as income when received.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**3. Summary of Significant Accounting Policies** *(concluded)*

<u>Income Taxes</u>

The Partnership does not record a provision for U.S. federal, state, or local income taxes because the partners report their share of the Partnership's income or loss on their income tax returns. However, certain non-United States dividend income may be subject to a tax at prevailing treaty or standard withholding rates with the applicable country or local jurisdiction. The Partnership files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states and foreign jurisdictions.

The Partnership is required to determine whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authority, based on the technical merits of the position. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authorities. Based on its analysis, the Partnership has determined that it has not incurred any liability for unrecognized tax benefits as of June 30, 2025. The Partnership does not expect that its assessment regarding unrecognized tax benefits will materially change over the next twelve months. However, the Partnership's conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, compliance with U.S. federal, U.S. state and foreign tax laws, and changes in the administrative practices and precedents of the relevant taxing authorities.

<u>Cash</u>

Substantially all the Partnership's cash is held by one financial institution. Such deposits may, at times, exceed federally insured limits.

<u>Use of Estimates</u>

The preparation of consolidated financial statements in conformity with GAAP requires the Partnership's management to make estimates and assumptions in determining the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

**4. Fair Value Measurements**

The Partnership's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Partnership's significant accounting policies in Note 3. The following table presents information about the Partnership's assets measured at fair value as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Loans funded at fair value** | | | | |
| &nbsp;&nbsp;&nbsp;Loans funded | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 9541039 | 9541039 |
| **Total Loans funded** | $- | $- | $9541039 | $9541039 |

---

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**4. Fair Value Measurements** *(concluded)*

The Partnership's policy is to recognize transfers in and out of each level of the fair value hierarchy as of the beginning of the period. For the six month period ended June 30, 2025, there were no transfers in or transfers out of Level 1, 2 or 3. Refer to the schedule of investments for investments listed by country and industry.

Investments within the Level 3 hierarchy totaling $9,541,039 were valued based on observable and unobservable but non-quantitative inputs as of June 30, 2025. As of June 30, 2025, the fair value is based on the cost basis plus amortized original issue discount, and is adjusted for broker quotes, which represents the General Partner's estimate of net realizable value.

**5. Investment Risk**

The Partnership's investing activities expose it to various types of risks that are associated with the markets and financial instruments in which it invests. The significant types of financial risks to which the Partnership is exposed include, but are not limited to, market risk, credit risk, liquidity risk and interest rate risk.

<u>Market Risk</u>

Market risk encompasses the potential for both losses and gains and includes, but is not limited to, price risk. The Partnership's investments are long-term and illiquid and there is no assurance that the Partnership will achieve investment objectives including targeted returns.

<u>Credit Risk</u>

The value of the Partnership's investments will generally fluctuate in response to company, political, or economic developments and can decline significantly over short periods of time or during periods of general or regional economic difficulty. Lower-quality debt securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. Lower-quality debt securities can be thinly traded or have restrictions on resale, making them difficult to sell at an acceptable price. The default rate for lower-quality debt securities is likely to be higher during economic recessions or periods of high interest rates.

<u>Liquidity Risk</u>

The Partnership generally invests in loans and debt securities of private companies. Substantially all of these securities are subject to legal and other restrictions on resale or will be otherwise less liquid than publicly traded securities. The illiquidity of its investments may make it difficult for the Partnership to sell such investments if the need arises. In addition, if the Partnership is required to liquidate all or a portion of its portfolio quickly, the Partnership may realize significantly less than the value at which it had previously recorded its investments. The extent of this exposure is reflected in the carrying value of these financial assets and recorded in the Statement of Financial Condition. Among other things liquidity could be impaired by an inability to access secured and/or unsecured sources of financing.

<u>Interest Rate Risk</u>

The performance of the Partnership's investment income will generally fluctuate with, among other things, changes in prevailing interest rates, general economic conditions, changes in the credit market, credit quality, the size and composition of the assets in our portfolio developments or trends in any particular industry, the financial condition of the issuer and other business developments.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**5. Investment Risk** *(concluded)*

Interest rate sensitivity refers to the change in earnings that may result from changes in the level of interest rates. As of June 30, 2025, 100% of the investments at fair value in our portfolio were at variable rates, subject to interest rate floors.

**6. Related Party Transactions**

The Partnership pays a quarterly management fee to the General Partner for providing investment management services to the Partnership as of the first business day of each quarter in advance equal to 0.25%-0.375% (1%-1.5% per annum) of the total principal amount of the partnership's portfolio investments (including borrowings used to acquire portfolio investments) as of the first business day of each quarter. The General Partner, in its sole discretion, may agree to waive or reduce the management fee rate for certain limited partners. The Partnership incurred management fees of $48,050 for the six months ended June 30, 2025.

In addition to managing the Partnership, the General Partner also manages Remora Capital Partners II QP, LP, a Delaware limited partnership ("RCP II QP"). The Partnership and RCP II QP operate as parallel fund investment vehicles that invest side-by-side pro-rata, based on available capital, in the same portfolio. The Partnership and RCP II QP have entered into a rebalancing agreement whereby, during the investment period, the investments are rebalanced based upon the beginning capital in each entity on a monthly basis to enable pro-rata investment in the same portfolio. For the six months ended June 30, 2025, the Partnership transferred $2,041,821 principal amount of loans (net of sales) to RCP II QP per the terms of the rebalancing agreement.

As of June 30, 2025, $1,506,327 of rebalancing transactions and other shared expenses remain outstanding and are recorded as due from related party on the Statement of Financial Condition.

**7. Partners' Capital**

<u>Allocations of Profits and Losses</u>

Profits and losses are generally allocated among the partners in accordance with their respective ownership interests at the time such amounts are recognized for financial reporting purposes under U.S. GAAP. Such amounts may differ significantly from amounts reported for income tax purposes.

<u>Capital Contributions and Withdrawals</u>

To the extent the General Partner determines, in its sole discretion, that the Partnership has available liquidity, with at least forty-five (45) days' prior written notice, a limited partner may withdraw all of their capital account as of the last day of any quarter. Upon such withdrawal, a limited partner would receive 85% of their capital account value (90% of which is paid at withdrawal and the remaining 10% is paid after the completion of the next annual audit) and the Partnership would retain the additional 15% early withdrawal penalty. The General Partner may waive these withdrawal restrictions for any limited partner.

All net distributable proceeds shall be paid or distributed, as defined in the Limited Partnership Agreement in the following order of priority:

*first*, one hundred percent (100%) to such limited partner until such limited partner has received cumulative distributions of investment proceeds equal to its aggregate capital contributions;

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**7. Partners' Capital** *(concluded)* 

*second*, one hundred percent (100%) to such limited partner until cumulative distributions of investment proceeds to such limited partner are sufficient to provide such limited partner with an internal rate of return of six percent (6%) per annum, compounded annually, with respect to such limited partner's aggregate capital contributions, calculated from the date each such capital contribution was funded until the date of distribution thereof;

*third*, one hundred percent (100%) to the General Partner until such time as the General Partner has received distributions in respect of such limited partner equal to twenty percent (20%) of the sum of all distributions made to such limited partner in excess in excess of the limited partners aggregate capital contributions and all distributions to the General Partner with respect to amounts apportioned to such limited partner and,

*fourth*, eighty percent (80%) to such limited partner and twenty percent (20%) to the General Partner.

For the six months ended June 30, 2025, carried interest allocated to the General Partner was $6,322.

**8. Fund Administrator**

Panoptic Fund Administration, Inc. serves as the Partnership's administrator and performs certain administrative and clerical services on behalf of the Partnership.

**9. Financial Highlights**

Financial highlights for the six months ended June 30, 2025, are as follows:

---

| | |
|:---|:---|
| Total return | 3.80% |
| Carried interest | -0.10% |
| Total return after carried interest | 3.70% |
| Expense ratio | 1.00% |
| Carried interest | 0.10% |
| Expense plus carried interest ratio | 1.10% |
| Net investment income ratio | 3.60% |

---

Financial highlights are calculated for the limited partner class taken as a whole. The ratios' inputs, excluding non-recurring income and expenses, have been annualized. An individual limited partner's return and ratios may vary based on different management fee arrangements and the timing of capital transactions. The net investment income ratio does not reflect carried interest to the General Partner.

**10. Subsequent Events**

The Partnership has performed an evaluation of subsequent events through October 31, 2025, which is the date the financial statements were available to be issued.

On April 3, 2025, the General Partner and the Manager, began a consent solicitation to amend the limited partnership agreements of the Fund. As of April 30, 2025, a majority of the limited partners voted to approve the First Amendment to the Fund's Amended and Restated Limited Partnership Agreement. The First Amendment authorizes the Partnership, in the sole discretion of the General Partner, to convert to corporate form or otherwise restructure or reorganize for the purpose of electing (or for the purchaser of the assets of the Partnership or the surviving successor entity in the merger, restructuring or reorganization, as applicable) to elect to be regulated as a business development company (a "BDC") under the Investment Company Act (as defined in Section 2(c)).

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**10. Subsequent Events** *(concluded)*

Remora Capital Corporation (the "Company") was formed on October 1, 2024 as a Maryland corporation. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). In addition, the Company intends to elect to be treated for U.S. federal income tax purposes, and to qualify annually thereafter, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). The Company is externally managed by Remora Capital Management, LLC (the "Adviser" and "Remora"), a Delaware limited liability company that is registered as an investment adviser under the Investment Advisers Act of 1940, as amended. The Adviser oversees the management of the Company's activities and is responsible for making investment decisions with respect to the Company's portfolio.

On September 5, 2025, immediately prior to the Company electing to be regulated as a BDC (the "BDC Election"), each of Remora Capital Partners I, LP ("Fund I"), Remora Capital Partners II, LP (the Partnership or "Fund II"), Remora Capital Partners I QP LP ("Fund I QP"), and Remora Capital Partners II QP, LP ("Fund II QP" and collectively with Fund I, Fund II, and Fund I QP, the "Funds") merged with and into the Company (the "Mergers"). As a result of the Mergers, the Company issued 16,213,447.182 shares of common stock, par value $0.001 per share ("Common Stock"), 332,696 shares of preferred stock, par value $0.001 per share ("Preferred Stock"), and acquired a portfolio of assets consisting of $243 million of loans to 82 borrowers (including undrawn commitments of revolving credit facilities and delayed draw term loans), cash and other assets totaling $266.7 million, which had an aggregate net asset value ("NAV") of $165,461,431.82. After the Mergers, the Company made the BDC Election and commenced operations.

The description above is only a summary of the material provisions of the Merger Agreements and is qualified in its entirety by reference to copies of each of the Merger Agreements, which are filed as Exhibits 2.1, 2.2, 2.3, and 2.4 to the Company's current report on Form 8-K filed on September 11, 2025 and incorporated herein by reference.

On September 5, 2025, the Company refinanced the Truist Credit Facility and entered into a Revolving Credit and Security Agreement (the "Credit Facility Agreement") for a special purpose vehicle financing credit facility (the "Credit Facility") by and among RCC SPV, LLC ("RCC SPV") as borrower, the Company, as servicer, Atlas, as administrative agent, Atlas Securitized Products, L.P., as lead arranger, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as custodian and as document custodian, each of the managing agents party thereto from time to time, and each of the conduit lenders and institutional lenders party thereto from time to time. The Credit Facility provides for $150 million of initial commitments with (x) a committed accordion feature pursuant to which the commitments shall be increased to $250 million, at the Company's option with 15 business days' notice, or by no later than the first anniversary of the closing date of the Credit Facility, and (y) an uncommitted accordion feature that allows for commitments up to $500 million from new and existing lenders on the same terms as the existing commitments, subject to market conditions. Advances under the Credit Facility bear interest at one-month Term SOFR plus an applicable margin of 2.00% during the revolving period. Subject to certain performance conditions, the applicable margin could increase to 2.25% during the revolving period and could range up to 2.50% during the amortization or "End of Life Option" periods (as defined in the Credit Facility Agreement). The Credit Facility Agreement provides for an unused commitment fee of 0.50% per annum on the unused commitments up to 50% of the commitments and 0.75% on the unused commitments in excess of 50% of the commitments, as well as other customary fees, from the effective date of the Credit Facility through September 5, 2028. The Credit Facility matures on September 5, 2030; provided, however, that RCC SPV and Atlas may mutually agree to extend the maturity date to September 5, 2032 pursuant to the "End of Life Option" under the Credit Facility Agreement.

The description above is only a summary of the material provisions of the SPV Facility and is qualified in its entirety by reference to the copy of the Credit Agreement, which is filed as Exhibit 10.8 to the Company's current report on Form 8-K filed on September 11, 2025 and is incorporated herein by reference thereto.

## Exhibit 99.6

**Exhibit 99.6**

**REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES**

CONSOLIDATED FINANCIAL STATEMENTS

UNAUDITED

June 30, 2025

**REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF FINANCIAL CONDITION**

---

| | |
|:---|:---|
|  | **As of**<br>**June 30,<br> 2025** |
| **Assets** | |
| Loans funded, at fair value (cost of $163,505,473) | $162123881 |
| Cash and cash equivalents | 3408239 |
| Financing costs (net of accumulated amortization of $549,133) | 497572 |
| Interest receivable | 654460 |
| Other assets | 458618 |
| &nbsp;&nbsp;&nbsp;Total assets | $167142770 |
| **Liabilities and partners' capital** |  |
| Liabilities |  |
| Senior secured credit facility | $78000000 |
| Due to related party | 82328 |
| Capital withdrawals payable | 4039242 |
| Reserve for bad debts | 314194 |
| Interest payable | 415931 |
| Accrued expenses | 398117 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 83249812 |
| Partners' capital | 83892958 |
| &nbsp;&nbsp;&nbsp;Total liabilities and partners' capital | $167142770 |

---

*See accompanying notes to financial statements.*

**Remora Capital Partners I QP LP and Subsidiaries**

**Consolidated Schedule of Investments as of June 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of <br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Aerospace & Defense** |  |  | | | | | | | |
| Aero 3, Inc. | First lien senior secured loan | S+ | 5.00% |  | 12/23/2026 | 2509878 | 2503707 | 2509878 |  |
| Aero 3, Inc. | First lien senior secured loan | S+ | 5.00% |  | 12/23/2026 | 1723285 | 1715266 | 1723285 |  |
| JA Moody LLC | First lien senior secured revolving loan | S+ | 5.00% |  | 11/29/2029 | 10328 | 10328 | 10328 |  |
| JA Moody LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.00% |  | 11/29/2029 |  |  |  |  |
| PAG Holding Corp. | First lien senior secured loan | S+ | 4.75% |  | 12/22/2029 | 2985504 | 2946980 | 2985504 |  |
| PAG Holding Corp. | First lien senior secured revolving loan | S+ | 4.75% |  | 12/22/2029 | 19313 | 19313 | 19313 |  |
| PAG Holding Corp. | First lien senior secured delayed draw term loan | S+ | 4.75% |  | 12/22/2029 | 190089 | 190089 | 190089 |  |
| RTC Aerospace Opcos, LLC | First lien senior secured loan | S+ | 5.25% |  | 3/8/2027 | 1665428 | 1661370 | 1665428 |  |
|  |  |  |  |  |  |  | 9047054 | 9103825 | 10.9% |
| **Air Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| US Pack Logistics LLC | First lien senior secured loan | S+ | 6.50% |  | 5/25/2026 | 1172425 | 1164228 | 1172425 |  |
|  |  |  |  |  |  |  | 1164228 | 1172425 | 1.4% |
| **Auto Components** |  |  |  |  |  |  |  |  |  |
| MOP-Cloyes, Inc. | First lien senior secured loan | S+ | 5.75% |  | 2/17/2028 | 2795969 | 2762110 | 2795969 |  |
|  |  |  |  |  |  |  | 2762110 | 2795969 | 3.3% |
| **Automobiles** |  |  |  |  |  |  |  |  |  |
| CAP-KSI Holdings, LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 6/28/2030 | 139859 | 139859 | 139859 |  |
| CentralBDC Enterprises, LLC | First lien senior secured loan | S+ | 5.25% |  | 6/11/2029 | 3587711 | 3552790 | 3587711 |  |
| CentralBDC Enterprises, LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 6/11/2029 | 115961 | 115961 | 115961 |  |
|  |  |  |  |  |  |  | 3808609 | 3843530 | 4.6% |
| **Building Products** |  |  |  |  |  |  |  |  |  |
| LGC US Finco, LLC | First lien senior secured loan | S+ | 6.50% |  | 12/20/2025 | 2572536 | 2558467 | 2572536 |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured loan | S+ | 5.00% |  | 11/12/2030 | 2937330 | 2904403 | 2937330 |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 11/12/2030 |  |  |  |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured delayed draw term loan | S+ | 5.00% |  | 11/12/2030 | 111930 | 111930 | 111930 |  |
|  |  |  |  |  |  |  | 5574800 | 5621796 | 6.7% |

---

**Remora Capital Partners I QP LP and Subsidiaries**

**Consolidated Schedule of Investments as of June 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of <br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Chemicals** |  |  |  |  |  |  |  |  |  |
| Zep Holdco Inc. | First lien senior secured loan | S+ | 5.00% |  | 6/30/2031 | 4303339 | 4260306 | 4303339 |  |
|  |  |  |  |  |  |  | 4260306 | 4303339 | 5.1% |
| **Commercial Services & Supplies** |  |  |  |  |  |  |  |  |  |
| Case FMS, LLC | First lien senior secured loan | S+ | 5.50% |  | 12/15/2027 | 1957865 | 1946437 | 1957865 |  |
| Cultural Experiences Abroad, LLC | First lien senior secured revolving loan (5) | S+ | 6.00% |  | 8/16/2028 |  |  |  |  |
| Prisma Graphic, LLC | First lien senior secured loan | S+ | 6.50% |  | 7/29/2027 | 3268941 | 3244996 | 3268941 |  |
| Safety Management Group, LLC | First lien senior secured loan | S+ | 5.50% |  | 2/25/2027 | 1249115 | 1246620 | 1249115 |  |
|  |  |  |  |  |  |  | 6438054 | 6475922 | 7.7% |
| **Construction & Engineering** |  |  |  |  |  |  |  |  |  |
| PRIME ABA HOLDINGS, INC. | First lien senior secured revolving loan | S+ | 5.75% |  | 9/16/2030 |  |  |  |  |
| PRIME ABA HOLDINGS, INC. | First lien senior secured delayed draw term loan | S+ | 5.75% |  | 9/16/2030 | 108521 | 108521 | 108521 |  |
| Rose Paving, LLC | First lien senior secured loan | S+ | 5.00% |  | 11/7/2029 | 3811812 | 3770984 | 3811812 |  |
| Rose Paving, LLC | First lien senior secured revolving loan | S+ | 5.00% |  | 11/7/2029 | 197594 | 197594 | 197594 |  |
| Rose Paving, LLC | First lien senior secured delayed draw term loan | S+ | 5.00% |  | 11/7/2029 | 172786 | 172786 | 172786 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S+ | 5.00% |  | 8/30/2027 | 2041373 | 2028676 | 2041373 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S+ | 5.00% |  | 8/31/2027 | 546757 | 541438 | 546757 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S+ | 5.00% |  | 8/31/2027 | 179236 | 177696 | 179236 |  |
|  |  |  |  |  |  |  | 6997694 | 7058078 | 8.4% |
| **Diversified Consumer Services** |  |  |  |  |  |  |  |  |  |
| Talent Worldwide Inc. | First lien senior secured loan | S+ | 6.25% |  | 12/18/2029 | 3650069 | 3589549 | 3650069 |  |
| Talent Worldwide Inc. | First lien senior secured revolving loan | S+ | 6.25% |  | 12/18/2029 | 67132 | 67132 | 67132 |  |
|  |  |  |  |  |  |  | 3656681 | 3717201 | 4.4% |
| **Diversified Financial Services** |  |  |  |  |  |  |  |  |  |
| Aite Group, LLC | First lien senior secured loan | S+ | 5.50% | 1.0% | 6/9/2027 | 1560192 | 1557393 | 1558788 |  |
| EdgeCo Buyer, Inc. | First lien senior secured loan | S+ | 4.50% |  | 6/1/2028 | 1245376 | 1243672 | 1245376 |  |
| Engage FI, LLC | First lien senior secured loan | S+ | 4.50% |  | 12/10/2026 | 650282 | 650282 | 650282 |  |
|  |  |  |  |  |  |  | 3451347 | 3454447 | 4.1% |
| **Electrical Equipment** |  |  |  |  |  |  |  |  |  |
| Douglas Electrical Components, Inc. | First lien senior secured loan | S+ | 4.75% |  | 8/31/2028 | 2049919 | 2035105 | 2049919 |  |
| Douglas Electrical Components, Inc. | First lien senior secured loan | S+ | 4.75% |  | 8/31/2028 | 2136607 | 2124607 | 2136607 |  |
| Douglas Electrical Components, Inc. | First lien senior secured revolving loan | S+ | 4.75% |  | 8/31/2028 |  | - | - |  |
|  |  |  |  |  |  |  | 4159712 | 4186526 | 5.0% |

---

**Remora Capital Partners I QP LP and Subsidiaries**

**Consolidated Schedule of Investments as of June 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of <br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Food & Staples Retailing** |  |  |  |  |  |  |  |  |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured loan | S+ | 5.75% |  | 12/28/2029 | 2990114 | 2951569 | 2990114 |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured revolving loan | S+ | 5.75% |  | 12/28/2029 | 12857 | 12857 | 12857 |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.75% |  | 12/28/2029 |  |  |  |  |
| QVF Acquisition, Inc. | First lien senior secured revolving loan | S+ | 5.25% |  | 12/23/2030 | 30984 | 30984 | 30984 |  |
| QVF Acquisition, Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 12/23/2030 |  |  |  |  |
| QVF Acquisition, Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 12/23/2030 |  | - | - |  |
|  |  |  |  |  |  |  | 2995410 | 3033956 | 3.6% |
| **Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| One Stop Mailing LLC | First lien senior secured loan | S+ | 6.25% |  | 5/7/2027 | 2004028 | 1991961 | 2004028 |  |
|  |  |  |  |  |  |  | 1991961 | 2004028 | 2.4% |
| **Health Care Equipment & Supplies** |  |  |  |  |  |  |  |  |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured loan | S+ | 5.75% |  | 7/2/2030 | 3011100 | 2992512 | 3011100 |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured revolving loan | S+ | 5.75% |  | 7/2/2030 |  |  |  |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.75% |  | 7/2/2030 |  |  |  |  |
| Modular Devices Acquisition, LLC | First lien senior secured loan | S+ | 5.75% |  | 12/28/2026 | 2916818 | 2902886 | 2916818 |  |
| Modular Devices Acquisition, LLC | First lien senior secured revolving loan | S+ | 5.75% |  | 12/28/2026 | 18289 | 18289 | 18289 |  |
| Modular Devices Acquisition, LLC | First lien senior secured delayed draw term loan | S+ | 5.75% |  | 12/28/2026 | 42718 | 42718 | 42718 |  |
| Modular Devices Acquisition, LLC | First lien senior secured capital equipment loan | S+ | 5.75% |  | 12/28/2026 | 37660 | 37660 | 37660 |  |
|  |  |  |  |  |  |  | 5994065 | 6026586 | 7.2% |

---

**Remora Capital Partners I QP LP and Subsidiaries**

**Consolidated Schedule of Investments as of June 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of <br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Health Care Providers & Services** |  |  |  |  |  |  |  |  |  |
| Caravel Autism Health, LLC | First lien senior secured loan | S+ | 4.75% |  | 6/11/2030 | 816498 | 806491 | 816498 |  |
| Houseworks Holdings, LLC | First lien senior secured loan | S+ | 5.25% |  | 12/16/2028 | 1742154 | 1728714 | 1742154 |  |
| Houseworks Holdings, LLC | First lien senior secured loan | S+ | 5.25% |  | 12/16/2028 | 2513518 | 2480437 | 2513518 |  |
| MAS Medical Staffing LLC | First lien senior secured loan | S+ | 6.00% | 1.0% | 5/27/2026 | 2291045 | 2288191 | 2291045 |  |
| Science Care Parent Inc. | First lien senior secured loan | S+ | 5.25% |  | 7/23/2027 | 2355512 | 2341176 | 2355512 |  |
| Science Care Parent Inc. | First lien senior secured loan | S+ | 5.25% |  | 7/23/2027 | 2143385 | 2131426 | 2143385 |  |
| Science Care Parent Inc. | First lien senior secured revolving loan (5) | S+ | 5.25% |  | 7/23/2027 |  |  |  |  |
| Science Care Parent Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 7/23/2027 | 6312 | 6312 | 6312 |  |
|  |  |  |  |  |  |  | 11782747 | 11868424 | 14.1% |
| **Health Care Technology** |  |  |  |  |  |  |  |  |  |
| Advent Home Medical LLC | First lien senior secured loan | S+ | 5.75% |  | 3/4/2026 | 2087717 | 2086121 | 2087717 |  |
| Sentrics, Inc. | First lien senior secured loan | S+ | 5.50% | 2% | 12/11/2026 | 1712887 | 1709150 | 1678629 |  |
| Unlock Health, Inc. | First lien senior secured loan | S+ | 6.50% |  | 2/3/2028 | 2768952 | 2756538 | 2768952 |  |
|  |  |  |  |  |  |  | 6551809 | 6535298 | 7.8% |
| **Hotels, Restaurants & Leisure** |  |  |  |  |  |  |  |  |  |
| NTM Acquisition Corp. | First lien senior secured loan | S+ | 6.75% |  | 6/18/2026 | 3535719 | 3518171 | 3535719 |  |
| NTM Acquisition Corp. | First lien senior secured revolving loan | S+ | 6.75% |  | 6/18/2026 |  | - | - |  |
|  |  |  |  |  |  |  | 3518171 | 3535719 | 4.2% |
| **Household Products** |  |  |  |  |  |  |  |  |  |
| TPC US Parent, LLC | First lien senior secured loan | S+ | 5.75% |  | 11/22/2025 | 4156058 | 4139166 | 4156058 |  |
|  |  |  |  |  |  |  | 4139166 | 4156058 | 5.0% |
| **Insurance** |  |  |  |  |  |  |  |  |  |
| VALE Insurance Partners | First lien senior secured loan | S+ | 5.25% |  | 12/1/2027 | 1661089 | 1655976 | 1661089 |  |
|  |  |  |  |  |  |  | 1655976 | 1661089 | 2.0% |

---

**Remora Capital Partners I QP LP and Subsidiaries**

**Consolidated Schedule of Investments as of June 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of <br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Interactive Media & Services** |  |  |  |  |  |  |  |  |  |
| Boostability Parent, Inc. | First lien senior secured revolving loan (5) | S+ | 5.25% |  | 7/12/2029 |  |  |  |  |
| CyberRisk Alliance, LLC | First lien senior secured loan | S+ | 7.00% |  | 10/24/2027 | 1249454 | 1242368 | 1249454 |  |
| Exec Connect Intermediate LLC | First lien senior secured loan | S+ | 5.25% |  | 3/11/2029 | 1513783 | 1495053 | 1513783 |  |
| Exec Connect Intermediate LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 3/11/2029 |  |  |  |  |
| Exec Connect Intermediate LLC | First lien senior secured delayed draw term loan (5) | S+ | 5.25% |  | 3/11/2029 |  |  |  |  |
| MMGY Corporation | First lien senior secured loan | S+ | 5.50% |  | 4/26/2029 | 1103975 | 1089067 | 1103975 |  |
|  |  |  |  |  |  |  | 3826488 | 3867213 | 4.6% |
| **IT Services** |  |  |  |  |  |  |  |  |  |
| Coastal Cloud LLC | First lien senior secured loan | S+ | 4.50% |  | 6/1/2027 | 1838910 | 1826631 | 1838910 |  |
| Crosslake Intermediate, LLC | First lien senior secured loan | S+ | 5.00% |  | 5/17/2029 | 1705862 | 1684566 | 1705862 |  |
| Crosslake Intermediate, LLC | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 5/17/2029 |  |  |  |  |
| Focal Point Solutions Group, LLC | First lien senior secured loan | S+ | 5.75% | 0.50% | 7/15/2027 | 1686489 | 1681232 | 1686489 |  |
| iVision Scale, LLC | First lien senior secured loan | S+ | 6.50% |  | 8/17/2026 | 2657372 | 2647963 | 2657372 |  |
| The Channel Company, Inc. | First lien senior secured loan | S+ | 2.50% | 4.25% | 11/1/2027 | 1314805 | 1307398 | 730374 |  |
|  |  |  |  |  |  |  | 9147791 | 8619007 | 10.3% |
| **Life Sciences Tools and Services** |  |  |  |  |  |  |  |  |  |
| Astrix Technology, LLC | First lien senior secured loan | S+ | 5.00% |  | 12/21/2026 | 2510821 | 2502297 | 2510822 |  |
|  |  |  |  |  |  |  | 2502297 | 2510822 | 3.0% |
| **Machinery** |  |  |  |  |  |  |  |  |  |
| All States Ag Parts, LLC | First lien senior secured loan | S+ | 6.26% | 0.50% | 9/1/2026 | 863818 | 863616 | 863818 |  |
| EDGE Intermediate, LLC | First lien senior secured loan | S+ | 5.25% |  | 6/5/2029 | 1803910 | 1793493 | 1803910 |  |
| EDGE Intermediate, LLC | First lien senior secured revolving loan | S+ | 5.25% |  | 6/5/2029 | 39017 | 39017 | 39017 |  |
| VP Heron Parent, Inc. | First lien senior secured loan | S+ | 5.75% |  | 1/8/2029 | 3547682 | 3525948 | 3547682 |  |
| VP Heron Parent, Inc. | First lien senior secured revolving loan (5) | S+ | 5.75% |  | 1/8/2029 |  | - | - |  |
|  |  |  |  |  |  |  | 6222074 | 6254427 | 7.5% |
| **Media** |  |  |  |  |  |  |  |  |  |
| ALM Global, LLC | First lien senior secured revolving loan | S+ | 5.50% |  | 2/21/2029 | 0 | 0 | 0 |  |
| Berlin Rosen Acquisition, LLC | First lien senior secured loan | S+ | 5.50% |  | 1/14/2027 | 3336808 | 3311332 | 3336808 |  |
| CF512, Inc. | First lien senior secured loan | S+ | 6.25% |  | 9/1/2026 | 1959026 | 1954010 | 1958937 |  |
| Equine Network, LLC | First lien senior secured loan | S+ | 6.50% |  | 5/22/2028 | 3378889 | 3334032 | 3378889 |  |
| H Code Media, Inc. | First lien senior secured loan | S+ | 6.50% |  | 11/24/2028 | 2022757 | 2001693 | 2022757 |  |
| MarketCast Holdings, LLC | First lien senior secured loan | S+ | 6.15% |  | 11/15/2025 | 2692425 | 2690258 | 2456569 |  |
| MeritDirect LLC | First lien senior secured loan | S+ | 5.75% |  | 6/30/2026 | 2172016 | 2172016 | 2172016 |  |
|  |  |  |  |  |  |  | 15463341 | 15325975 | 18.3% |

---

**Remora Capital Partners I QP LP and Subsidiaries**

**Consolidated Schedule of Investments as of June 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of <br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Professional Services** |  |  |  |  |  |  |  |  |  |
| DeWinter LLC | First lien senior secured loan | S+ | 6.75% |  | 2/28/2026 | 2486957 | 2479688 | 2486957 |  |
| Escalon Services, LLC | First lien senior secured loan | S+ | 1.26% | 6.0% | 10/13/2028 | 2639052 | 2628836 | 2116255 |  |
| FMS Financial Management Services LLC | First lien senior secured loan | S+ | 5.50% |  | 2/1/2027 | 825798 | 824180 | 825798 |  |
| FMS Financial Management Services LLC | First lien senior secured loan | S+ | 5.50% |  | 2/1/2027 | 275913 | 270542 | 273154 |  |
| MOXFIVE LLC | First lien senior secured revolving loan | S+ | 5.00% |  | 8/16/2029 |  |  |  |  |
| Pacific Purchaser, LLC | First lien senior secured loan | S+ | 6.25% |  | 10/2/2028 | 1440597 | 1428956 | 1440597 |  |
| Penta Group, LLC | First lien senior secured loan | S+ | 4.75% |  | 6/21/2026 | 2138777 | 2135089 | 2138777 |  |
| Providus MPS Buyer LLC | First lien senior secured loan | S+ | 5.00% |  | 8/16/2029 | 1464121 | 1455233 | 1464121 |  |
| Providus MPS Buyer LLC | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 8/16/2029 |  | - | - |  |
|  |  |  |  |  |  |  | 11222525 | 10745658 | 12.8% |
| **Real Estate Management & Development** |  |  |  |  |  |  |  |  |  |
| Continuum Companies, Inc. | First lien senior secured loan | S+ | 5.75% |  | 9/12/2027 | 1771448 | 1763413 | 1771448 |  |
|  |  |  |  |  |  |  | 1763413 | 1771448 | 2.1% |
| **Road & Rail** |  |  |  |  |  |  |  |  |  |
| OTR Buyer, LLC | First lien senior secured loan | S+ | 5.50% |  | 8/31/2027 | 1004399 | 1000141 | 1004399 |  |
|  |  |  |  |  |  |  | 1000141 | 1004399 | 1.2% |
| **Software** |  |  |  |  |  |  |  |  |  |
| 402 Ventures, LLC | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 9/26/2029 |  |  |  |  |
| Concord III, L.L.C. | First lien senior secured loan | S+ | 6.00% |  | 12/20/2028 | 4023516 | 3968348 | 4023516 |  |
| Concord III, L.L.C. | First lien senior secured revolving loan | S+ | 6.00% |  | 12/20/2028 | 35503 | 35503 | 35503 |  |
| Exigo, LLC | First lien senior secured loan | S+ | 6.25% |  | 3/15/2027 | 2040233 | 2030415 | 2040233 |  |
| Imagine Acquisitionco, Inc. | First lien senior secured loan | S+ | 5.00% |  | 11/16/2027 | 2168560 | 2164331 | 2168560 |  |
| Imagine Acquisitionco, Inc. | First lien senior secured revolving loan | S+ | 5.00% |  | 11/16/2027 |  |  |  |  |
| MotionPoint Corporation | First lien senior secured loan | S+ | 6.00% |  | 3/31/2026 | 2032606 | 2031258 | 2032606 |  |
| QM Buyer, Inc. | First lien senior secured revolving loan (5) | S+ | 5.00% |  | 12/6/2030 |  |  |  |  |
| QM Buyer, Inc. | First lien senior secured delayed draw term loan (5) | S+ | 5.00% |  | 12/6/2030 |  |  |  |  |
| TriMech Acquisition Corp. | First lien senior secured loan | S+ | 4.75% |  | 3/10/2028 | 714748 | 710816 | 714748 |  |
|  |  |  |  |  |  |  | 10940671 | 11015166 | 13.1% |

---

**Remora Capital Partners I QP LP and Subsidiaries**

**Consolidated Schedule of Investments as of June 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** | <br>**Principal<br> Amount(3)** | <br>**Amortized<br> Cost** | <br>**Fair<br> Value(4)** | <br>**% of <br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | | | | | | |
| **First Lien Secured Debt** |  |  | | | | | | | |
| **Specialty Retail** |  |  |  |  |  |  |  |  |  |
| Hub Pen Company, LLC | First lien senior secured loan | S+ | 5.25% |  | 12/31/2027 | 1888037 | 1863287 | 1888037 |  |
|  |  |  |  |  |  |  | 1863287 | 1888037 | 2.3% |
| **Transportation and Logistics** |  |  |  |  |  |  |  |  |  |
| A. Stucki Company | First lien senior secured delayed draw term loan (5) | S+ | 4.75% |  | 3/27/2030 |  | - | - |  |
|  |  |  |  |  |  |  | - | - | 0.0% |
| **Transportation Infrastructure** |  |  |  |  |  |  |  |  |  |
| Site Services Acquisition, LLC | First lien senior secured loan | S+ | 5.00% |  | 3/1/2028 | 4268099 | 4220430 | 4268099 |  |
|  |  |  |  |  |  |  | 4220430 | 4268099 | 5.1% |
| **Water Utilities** |  |  |  |  |  |  |  |  |  |
| Greenrise Technologies, LLC | First lien senior secured loan | S+ | 6.50% |  | 7/19/2029 | 4198456 | 4173445 | 4198456 |  |
| Greenrise Technologies, LLC | First lien senior secured revolving loan | S+ | 6.50% |  | 7/19/2029 | 100956 | 100956 | 100956 |  |
| Greenrise Technologies, LLC | First lien senior secured delayed draw term loan (5) | S+ | 6.50% |  | 7/19/2029 |  | - | - |  |
|  |  |  |  |  |  |  | 4274402 | 4299413 | 5.1% |
| **Total Investments** |  |  |  |  |  |  | 162396759 | 162123881 | 193.3% |

---

(1) All portfolio company headquarters are based in the United States.

(2) There are no non-accrual nor non-income producing debt investments.
Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured
Overnight Financing Rate, or "S+", or Prime rate, or "P". The spread may change based on the type of rate used.
The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. SOFR loans
are typically indexed to a 30-day, 90-day or 180-day SOFR rates (1M S, 3M S, or 6M S, respectively) at the borrower's option. All
securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted.

(3) Principal is net of repayments. Cost is net of repayments and
accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding
on the loan.

(4) Valued based on our accounting policy. The value of all securities
was determined using significant unobservable inputs.

(5) The position is unfunded and no interest income is being earned
as of June 30, 2025. The position may earn a nominal unused facility fee on committed amounts. The Partnership had unfunded loan commitments
of $6,117,017 as of June 30, 2025.

**REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF OPERATIONS**

---

| | |
|:---|:---|
|  | **For the <br> Six Months<br> Ended**<br> **June 30,<br> 2025** |
| **Investment income** | |
| &nbsp;&nbsp;&nbsp;Interest | $8478629 |
| &nbsp;&nbsp;&nbsp;Fees and other income | 29015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 8507644 |
| **Expenses** |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 2609384 |
| &nbsp;&nbsp;&nbsp;Management fees | 807772 |
| &nbsp;&nbsp;&nbsp;Interest paid to sub-manager | 622150 |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 150617 |
| &nbsp;&nbsp;&nbsp;Fund administrator fees | 44538 |
| &nbsp;&nbsp;&nbsp;Professional fees and other | 203365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 4437826 |
| **Net investment income** | 4069819 |
| **Realized and unrealized appreciation on loans funded** |  |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation on loans funded | (586975) |
| **Net gain on loans funded** | (586975) |
| **Net income** | $3482844 |

---

*See accompanying notes to financial statements.*

 

**REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' CAPITAL**

**For The Six Months Ended June 30, 2025**

---

| | | | |
|:---|:---|:---|:---|
|  | **General**<br>**Partner** | **Limited**<br>**Partners** |<br>**Total** |
| **Partners' capital,** beginning of period | $1662904 | $84825282 | $86488186 |
| **Capital withdrawals** | (48) | (6078025) | (6078072) |
| **Allocation of net income** |  |  |  |
| &nbsp;&nbsp;&nbsp;Pro rata allocation | 41 | 3482803 | 3482844 |
| &nbsp;&nbsp;&nbsp;Carry amount allocation | 203929 | (203929) | - |
|  | 203969 | 3278874 | 3482844 |
| **Partners' capital,** end of period | $1866826 | $82026132 | $83892958 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF CASH FLOWS**

**Six Months Ended June 30, 2025**

---

| | |
|:---|:---|
| **Cash flow from operating activities** | |
| Net income | $3482844 |
| Adjustments to reconcile net income to net cash used in operating activities: |  |
| &nbsp;&nbsp;&nbsp;Change in unrealized gain on investments | 586975 |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 150617 |
| &nbsp;&nbsp;&nbsp;Loans funded, net of principal repayments | (6115699) |
| &nbsp;&nbsp;&nbsp;Amortization of premium and accretion of discount, net | (428567) |
| &nbsp;&nbsp;&nbsp;Amortization of deferred financing cost | 114980 |
| &nbsp;&nbsp;&nbsp;Amortization of deferred organizational cost | 22960 |
| Changes in operating assets and liabilities: |  |
| &nbsp;&nbsp;&nbsp;Other assets | (381208) |
| &nbsp;&nbsp;&nbsp;Due to related party | 57180 |
| &nbsp;&nbsp;&nbsp;Interest payable | (20801) |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | (45933) |
| Net cash used in operating activities | (2576653) |
| **Cash flow from financing activities** |  |
| &nbsp;&nbsp;&nbsp;Senior secured credit facility | 6400000 |
| &nbsp;&nbsp;&nbsp;Capital distributions, net of capital distributions payable | (4281601) |
| Net cash provided by financing activities | 2118399 |
| Net change in cash | (458254) |
| Cash, beginning of year | 3866493 |
| Cash, end of year | $3408239 |
| Supplemental disclosure of noncash operating activities |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest during the year | 2609384 |

---

*See accompanying notes to financial statements.*

 

 

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

 

1. Nature of the Entity and Its Operations

Remora Capital Partners I QP LP and its subsidiaries (the "Partnership") is a Delaware limited partnership which was organized in May 2021 and commenced operations November 16, 2021.

The Partnership's investment objective is to generate a stable fixed interest income stream and preserve capital through superior loan selection and risk mitigation. The Partnership has built a diversified portfolio of high-quality, senior secured loans to middle—market companies with headquarters or principal operations in the United States and Canada. The Partnership primarily establishes co-investment programs with loan originators or their affiliates to purchase loan assets (or participations in loan assets) on a secondary basis, and makes opportunistic secondary market purchases of loan assets. The Partnership (directly or via sub-manager agreements) may purchase loan assets as a co-lender or as a "club" lender, and may participate in loan syndications. The Partnership may also invest in other types of loans and debt securities, collateralized loan obligations, collateralized debt obligations and other securities, and invest in funds and other pooled investment vehicles managed by sub-managers.

The Partnership's activities are managed by Remora Capital Partners I GP, LLC (the "General Partner"). The General Partner has engaged Remora Capital Management, LLC (the "Manager") to serve as an investment advisor and manager for the Partnership, including with respect to the establishment of co-Investment programs and the selection, evaluation, retention and termination of co-investment partners and loan investments.

The General Partner is responsible for all management decisions on behalf of the Partnership and has discretionary authority over the Partnership's assets. Refer to the Partnership's Offering Memorandum for more information.

The Partnership conducts a continuing private offering of its Interests, which are sold to qualified investors. Investors must be "accredited investors" (as defined in Regulation D under the Securities Act) who are "qualified purchasers" (as defined in the Investment Company Act of 1940). The Partnership stopped accepting new investors on November 16, 2023.

**2. Basis of Presentation**

Management has prepared these consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") on behalf of the Partnership. Since the Partnership is considered to be an investment company it follows the specialized accounting and reporting guidance of Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services – Investment Companies".

These consolidated financial statements were approved by management and available for issuance on October 31, 2025. Subsequent events have been evaluated through this date.

**3. Principles of Consolidation**

The accompanying consolidated financial statements include the accounts of Remora Capital Partners I QP LP and its wholly owned subsidiaries, RCP I QP Finance, LLC and RCP I QP SPV, LLC (collectively, the Partnership). All significant intercompany balances and transactions have been eliminated in consolidation.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

**4. Summary of Significant Accounting Policies**

The Partnership carries its investments at fair value. Fair value is an estimate of the exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the security (i.e. the exit price at the measurement date). Fair value measurements are not adjusted for transaction costs. A fair value hierarchy provides for prioritizing inputs to valuation techniques used to measure fair value into three levels:

---

| | |
|:---|:---|
| Level 1 | Observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities. Management may determine that a market is active even if the size of the position held is significant relative to trading volume. Accordingly, a large position in a single security traded in an active market is measured at the quoted market price not adjusted because of the size of the position relative to trading volume (blockage factor) even if the market's normal trading volume is not sufficient to absorb the quantity held and placing orders to sell the position in a single transaction might affect the quoted price. |

---

---

| | |
|:---|:---|
| Level 2 | Inputs other than quoted market prices that are observable, either directly or indirectly, and reasonably available. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the Partnership. |

---

Level 3 Significant unobservable inputs used when there is little or no market activity. Unobservable inputs reflect the assumptions that the General Partner develops based on available information about what inputs market participants would use in valuing the asset or liability.

An asset or liability's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Availability of observable inputs can vary and is affected by a variety of factors. The General Partner uses judgment in determining the fair value of assets and liabilities. Level 3 assets and liabilities involve greater judgment than Level 1 or Level 2 assets and liabilities. The level of input used for valuing securities is not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Partnership's major categories of securities measured at fair value on a recurring basis are as follows:

<u>Loans Funded</u>

The Partnership presents its investments at fair value in accordance with FASB ASC Topic 820, Fair Value Measurements. ASC 820 outlines three acceptable valuation techniques: the market approach, cost approach, and income approach.

The Partnership calculates the fair value of its financial instruments and includes this additional information in the notes to the financial statements when the fair value is different than the carrying value of those financial instruments. At June 30, 2025, the fair values of the Partnership's financial instruments reasonably approximate the carrying values and no additional disclosure is necessary.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

**5. Summary of Significant Accounting Policies**

<u>Investment Income and Loan Fees</u>

Investment transactions are accounted for on a trade-date basis. Interest is recognized on the accrual basis and includes amortization of purchase discounts and premiums. Discounts and premiums to par value are accreted or amortized into interest income over the contractual life of the respective security. The amortized cost of the investments represents the original cost adjusted for the accretion and amortization of discounts and premiums, if any. If a loan is in default, interest is no longer accrued and any payments received are applied against the cost of the loan unless the loan agreement is amended. Per the terms of the loan agreements, the Partnership may receive loan fees with respect to each loan funded. The loan fees are non-refundable and are recognized as income when received.

<u>Income Taxes</u>

The Partnership does not record a provision for U.S. federal, state, or local income taxes because the partners report their share of the Partnership's income or loss on their income tax returns. However, certain non-United States dividend income may be subject to a tax at prevailing treaty or standard withholding rates with the applicable country or local jurisdiction. The Partnership files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states and foreign jurisdictions.

The Partnership is required to determine whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authority, based on the technical merits of the position. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authorities. Based on its analysis, the Partnership has determined that it has not incurred any liability for unrecognized tax benefits as of June 30, 2025. The Partnership does not expect that its assessment regarding unrecognized tax benefits will materially change over the next twelve months. However, the Partnership's conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, compliance with U.S. federal, U.S. state and foreign tax laws, and changes in the administrative practices and precedents of the relevant taxing authorities.

<u>Cash</u>

Substantially all the Partnership's cash is held by two financial institutions. Such deposits may, at times, exceed federally insured limits.

<u>Use of Estimates</u>

The preparation of consolidated financial statements in conformity with GAAP requires the Partnership's management to make estimates and assumptions in determining the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

<u>Deferred Financing Costs</u>

Deferred financing costs consist of fees and expenses paid in connection with the closing of the credit facility. These costs are capitalized at the time of payment and are amortized using the straight-line method over the term of the credit facility. Capitalized deferred financing costs related to the credit facility are presented on the Consolidated Statement of Financial Condition.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

**6. Fair Value Measurements**

The Partnership's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Partnership's significant accounting policies in Note 3. The following table presents information about the Partnership's assets measured at fair value as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Loans funded at fair value** | | | | |
| &nbsp;&nbsp;&nbsp;Loans funded | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 162123881 | 162123881 |
| **Total Loans funded** | $- | $- | $162123881 | $162123881 |

---

The Partnership's policy is to recognize transfers in and out of each level of the fair value hierarchy as of the beginning of the period. For the six months ended June 30, 2025, there were no transfers in or transfers out of Level 1, 2 or 3. Refer to the schedule of investments for investments listed by country and industry.

Investments within the Level 3 hierarchy totaling $162,123,881 were valued based on observable and unobservable but non-quantitative inputs as of June 30, 2025. As of June 30, 2025, the fair value is based on the cost basis plus amortized original issue discount, and is adjusted for broker quotes, which represents the General Partner's estimate of net realizable value.

**7. Truist Credit Facility**

On August 3, 2022, Remora Capital Partners I, LP and Remora Capital Partners I QP LP each formed a wholly owned special purpose entity (collectively the "SPEs"), called RCP I Finance, LLC ("RCP I SPE") and RCP I QP Finance, LLC ("RCP I QP SPE"), respectively. Substantially all of the loan assets of the partnerships, that were originated by and sourced via a sub-manager agreement with Maranon Capital, L.P. ("Maranon"), were contributed to the SPEs in order for the SPEs to jointly act as co-borrowers of a revolving credit facility for up to $60.0 million (the "Truist Credit Facility") with Truist Bank (formerly SunTrust Bank), acting as administrative agent, Maranon, acting as collateral manager, and Deutsche Bank Trust Company acting as both collateral agent and collateral administrator. Subsequently, on March 15, 2023, lenders under the Truist Credit Facility increased their commitments and the Partnership's borrowing capacity by $10 million to a total of $70 million, subject to leverage and borrowing base restrictions. Subsequently, on February 22, 2024, lenders under the Truist Credit Facility increased their commitments and the Partnership's borrowing capacity by $33 million to a total of $103 million, subject to leverage and borrowing base restrictions.

As of June 30, 2025, RCP I QP SPE and RCP I SPE had jointly borrowed $78.0 million and $12.7 million, respectively, in outstanding borrowings under the Truist Credit Facility. The Truist Credit Facility had an interest rate of 6.6%, exclusive of the fee on undrawn commitment, upfront deferred financing costs and ticking fees for subsequent borrowings, as of June 30, 2025. The Truist Credit Facility is a revolving facility with a stated maturity date of August 3, 2027 and pricing set at 220 basis points over one-month SOFR (or an alternative risk-free floating interest rate index) plus a 10 basis point credit spread adjustment. As of June 30, 2025, the SPEs had $12.3 million of unused borrowing capacity under the Truist Credit Facility, subject to leverage and borrowing base restrictions. The Truist Credit Facility is secured by all of the assets of the SPEs, which represents substantially all of the assets underwritten and secured via a sub-manager agreement with Maranon. Assets secured as a co-lender or via other co-investment programs are not collateral for the Truist Credit Facility. As of June 30, 2025, the Partnership was in compliance with the terms of the Truist Credit Facility.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

**8. Investment Risk**

The Partnership's investing activities expose it to various types of risks that are associated with the markets and financial instruments in which it invests. The significant types of financial risks to which the Partnership is exposed include, but are not limited to, market risk, credit risk, liquidity risk and interest rate risk.

<u>Market Risk</u>

Market risk encompasses the potential for both losses and gains and includes, but is not limited to, price risk. The Partnership's investments are long-term and illiquid and there is no assurance that the Partnership will achieve investment objectives including targeted returns.

<u>Credit Risk</u>

The value of the Partnership's investments will generally fluctuate in response to company, political, or economic developments and can decline significantly over short periods of time or during periods of general or regional economic difficulty. Lower-quality debt securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. Lower-quality debt securities can be thinly traded or have restrictions on resale, making them difficult to sell at an acceptable price. The default rate for lower-quality debt securities is likely to be higher during economic recessions or periods of high interest rates.

<u>Liquidity Risk</u>

The Partnership generally invests in loans and debt securities of private companies. Substantially all of these securities are subject to legal and other restrictions on resale or will be otherwise less liquid than publicly traded securities. The illiquidity of its investments may make it difficult for the Partnership to sell such investments if the need arises. In addition, if the Partnership is required to liquidate all or a portion of its portfolio quickly, the Partnership may realize significantly less than the value at which it had previously recorded its investments. The extent of this exposure is reflected in the carrying value of these financial assets and recorded in the Consolidated Statement of Financial Condition. Further, the Partnership may face other restrictions on its ability to liquidate an investment in a portfolio company to the extent that it, or an affiliated manager, has material non-public information regarding such portfolio company. Among other things liquidity could be impaired by an inability to access secured and/or unsecured sources of financing.

<u>Interest Rate Risk</u>

The performance of the Partnership's investment income will generally fluctuate with, among other things, changes in prevailing interest rates, general economic conditions, changes in the credit market, credit quality, the size and composition of the assets in our portfolio, developments or trends in any particular industry, the financial condition of the issuer and other business developments.

Interest rate sensitivity refers to the change in earnings that may result from changes in the level of interest rates. The Partnership also funds a portion of the Partnership's investments with borrowings and the Partnership's net investment income will be affected by the difference between the rate at which the Partnership invests and the rate at which the Partnership borrows. Accordingly, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on the Partnership's net investment income. As of June 30, 2025, 100% of the investments at fair value in the portfolio were at variable rates, subject to interest rate floors. The Truist Credit Facility also bears interest at variable rates. Additionally, changes in market rates may result in declining yields upon reinvestment of excess cash balances.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

**9. Related Party Transactions**

The Partnership pays a quarterly management fee to the Manager for providing investment management services to the Partnership as of the first business day of each quarter in advance equal to 0.25%-0.375% (1%-1.5% per annum) of the total principal amount of the partnership's portfolio investments (including borrowings used to acquire portfolio investments) as of the first business day of each quarter. The Manager, in its sole discretion, may agree to waive or reduce the management fee rate for certain limited partners. The Partnership incurred management fees of $807,772 for the six months ended June 30, 2025.

In addition to managing the Partnership, the General Partner also manages Remora Capital Partners I, LP, a Delaware limited partnership ("RCP I"). The Partnership and RCP I operate as parallel fund investment vehicles that invest side-by-side pro-rata, based on available capital, in the same portfolio. The Partnership and RCP I have entered into a rebalancing agreement whereby, during the investment period, the investments are rebalanced based upon the beginning capital in each entity on a monthly basis to enable pro-rata investment in the same portfolio. The Partnership and its parallel fund both stopped raising new investor capital as of November 16, 2023, and the final rebalancing of the portfolio was completed in December 2023. Therefore, for the six months ended June 30, 2025, the Partnership did not transfer any loans to RCP I per the terms of the rebalancing agreement.

On December 15, 2023, the Partnership and RCP I entered into a revolving promissory note with Remora Capital Partners II, LP ("RCP II LP") and Remora Capital Partners II QP, LP ("RCP II QP LP") whereby either the Partnership and/or RCP I QP may make short-term advances ("Advances"), for a maximum of 60 days for each Advance, and up to a total principal amount of five million dollars. The borrowers may use the funds to pay the purchase price of certain investments. The Advances bear interest daily non-compounded at an annual rate of 25 basis points plus the interest rate currently being earned on cash deposits of the Partnership's interest-bearing checking account with Bank of America (resulting in an applicable rate of 4.15% as of June 30, 2025). As of June 30, 2025, there was no outstanding balance related to this note.

**10. Partners' Capital**

<u>Allocations of Profits and Losses</u>

Profits and losses are generally allocated among the partners in accordance with their respective ownership interests at the time such amounts are recognized for financial reporting purposes under U.S. GAAP. Such amounts may differ significantly from amounts reported for income tax purposes.

<u>Capital Contributions and Withdrawals</u>

To the extent the General Partner determines, in its sole discretion, that the Partnership has available liquidity, with at least forty-five (45) days' prior written notice, a limited partner may withdraw all of their capital account as of the last day of any quarter. Upon such withdrawal, a limited partner would receive 85% of their capital account value (90% of which is paid at withdrawal and the remaining 10% is paid after the completion of the next annual audit) and the Partnership would retain the additional 15% early withdrawal penalty. The General Partner may waive these withdrawal restrictions for any limited partner.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

**10. Partners' Capital** *(concluded)*

All net distributable proceeds shall be paid or distributed, as defined in the Limited Partnership Agreement in the following order of priority:

*first*, one hundred percent (100%) to such limited partner until such limited partner has received cumulative distributions of investment proceeds equal to its aggregate capital contributions;

*second*, one hundred percent (100%) to such limited partner until cumulative distributions of investment proceeds to such limited partner are sufficient to provide such limited partner with an internal rate of return of six percent (6%) per annum, compounded annually, with respect to such limited partner's aggregate capital contributions, calculated from the date each such capital contribution was funded until the date of distribution thereof;

*third*, one hundred percent (100%) to the General Partner until such time as the General Partner has received distributions in respect of such limited partner equal to twenty percent (20%) of the sum of all distributions made to such limited partner in excess in excess of the limited partners aggregate capital contributions and all distributions to the General Partner with respect to amounts apportioned to such limited partner and,

*fourth*, eighty percent (80%) to such limited partner and twenty percent (20%) to the General Partner.

For the six months ended June 30, 2025, carried interest allocated to the General Partner was $203,929.

**11. Fund Administrator**

Panoptic Fund Administration, Inc. serves as the Partnership's administrator and performs certain administrative and clerical services on behalf of the Partnership.

**12. Financial Highlights**

Financial highlights for the six months ended June 30, 2025 are as follows:

---

| | |
|:---|:---|
| Total return | 4.10% |
| Carried interest | -0.20% |
| Total return after carried interest | 3.90% |
| Expense ratio | 5.10% |
| Carried interest ratio | 0.20% |
| Expense plus carried interest ratio | 5.30% |
| Net investment income ratio | 4.70% |

---

Financial highlights are calculated for the limited partner class taken as a whole. An individual limited partner's return and ratios may vary based on different management fee arrangements and the timing of capital transactions. The net investment income ratio does not reflect the effects of change in unearned carried interest to the General Partner.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS I QP LP AND SUBSIDIARIES** |
| **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** |

---

**13. Subsequent Events**

The Partnership has performed an evaluation of subsequent events through October 31, 2025, which is the date the consolidated financial statements were available to be issued.

On April 3, 2025, the General Partner and the Manager, began a consent solicitation to amend the limited partnership agreements of the Fund. As of April 30, 2025, a majority of the limited partners voted to approve the First Amendment to the Fund's Amended and Restated Limited Partnership Agreement. The First Amendment authorizes the Partnership, in the sole discretion of the General Partner, to convert to corporate form or otherwise restructure or reorganize for the purpose of electing (or for the purchaser of the assets of the Partnership or the surviving successor entity in the merger, restructuring or reorganization, as applicable) to elect to be regulated as a business development company (a "BDC") under the Investment Company Act (as defined in Section 2(c)).

Remora Capital Corporation (the "Company") was formed on October 1, 2024 as a Maryland corporation. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). In addition, the Company intends to elect to be treated for U.S. federal income tax purposes, and to qualify annually thereafter, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). The Company is externally managed by Remora Capital Management, LLC (the "Adviser" and "Remora"), a Delaware limited liability company that is registered as an investment adviser under the Investment Advisers Act of 1940, as amended. The Adviser oversees the management of the Company's activities and is responsible for making investment decisions with respect to the Company's portfolio.

On September 5, 2025, immediately prior to the Company electing to be regulated as a BDC (the "BDC Election"), each of Remora Capital Partners I, LP ("Fund I"), Remora Capital Partners II, LP ("Fund II"), Remora Capital Partners I QP LP (the Partnership or "Fund I QP"), and Remora Capital Partners II QP, LP ("Fund II QP" and collectively with Fund I, Fund II, and Fund I QP, the "Funds") merged with and into the Company (the "Mergers"). As a result of the Mergers, the Company issued 16,213,447.182 shares of common stock, par value $0.001 per share ("Common Stock"), 332,696 shares of preferred stock, par value $0.001 per share ("Preferred Stock"), and acquired a portfolio of assets consisting of $243 million of loans to 82 borrowers (including undrawn commitments of revolving credit facilities and delayed draw term loans), cash and other assets totaling $266.7 million, which had an aggregate net asset value ("NAV") of $165,461,431.82. After the Mergers, the Company made the BDC Election and commenced operations.

The description above is only a summary of the material provisions of the Merger Agreements and is qualified in its entirety by reference to copies of each of the Merger Agreements, which are filed as Exhibits 2.1, 2.2, 2.3, and 2.4 to the Company's current report on Form 8-K filed on September 11, 2025 and incorporated herein by reference.

On September 5, 2025, the Company refinanced the Truist Credit Facility and entered into a Revolving Credit and Security Agreement (the "Credit Facility Agreement") for a special purpose vehicle financing credit facility (the "Credit Facility") by and among RCC SPV, LLC ("RCC SPV") as borrower, the Company, as servicer, Atlas, as administrative agent, Atlas Securitized Products, L.P., as lead arranger, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as custodian and as document custodian, each of the managing agents party thereto from time to time, and each of the conduit lenders and institutional lenders party thereto from time to time. The Credit Facility provides for $150 million of initial commitments with (x) a committed accordion feature pursuant to which the commitments shall be increased to $250 million, at the Company's option with 15 business days' notice, or by no later than the first anniversary of the closing date of the Credit Facility, and (y) an uncommitted accordion feature that allows for commitments up to $500 million from new and existing lenders on the same terms as the existing commitments, subject to market conditions. Advances under the Credit Facility bear interest at one-month Term SOFR plus an applicable margin of 2.00% during the revolving period. Subject to certain performance conditions, the applicable margin could increase to 2.25% during the revolving period and could range up to 2.50% during the amortization or "End of Life Option" periods (as defined in the Credit Facility Agreement). The Credit Facility Agreement provides for an unused commitment fee of 0.50% per annum on the unused commitments up to 50% of the commitments and 0.75% on the unused commitments in excess of 50% of the commitments, as well as other customary fees, from the effective date of the Credit Facility through September 5, 2028. The Credit Facility matures on September 5, 2030; provided, however, that RCC SPV and Atlas may mutually agree to extend the maturity date to September 5, 2032 pursuant to the "End of Life Option" under the Credit Facility Agreement.

The description above is only a summary of the material provisions of the SPV Facility and is qualified in its entirety by reference to the copy of the Credit Agreement, which is filed as Exhibit 10.8 to the Company's current report on Form 8-K filed on September 11, 2025 and is incorporated herein by reference thereto.

## Exhibit 99.8

**Exhibit 99.8**

**REMORA CAPITAL PARTNERS II QP, LP**

CONSOLIDATED FINANCIAL STATEMENTS

UNAUDITED

JUNE 30, 2025

**REMORA CAPITAL PARTNERS II QP, LP**

**STATEMENT OF FINANCIAL CONDITION**

---

| | |
|:---|:---|
|  | **As of**<br>**June 30,<br> 2025** |
| **Assets** | |
| Loans funded, at fair value (cost $46,935,668.68) | $46872549 |
| Cash and cash equivalents | 14834402 |
| Interest receivable | 157666 |
| Other assets | 102688 |
| &nbsp;&nbsp;&nbsp;Total assets | $61967304 |
| **Liabilities and partners' capital** |  |
| Liabilities |  |
| Advance capital contributions | $2577000 |
| Due to related party | 1350809 |
| Capital distributions payable | 1538171 |
| Reserve for bad debts | 208689 |
| Accrued expenses | 108130 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 5782800 |
| Partners' capital | 56184504 |
| &nbsp;&nbsp;&nbsp;Total liabilities and partners' capital | $61967304 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS II QP, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | |  | | | | |
| **First Lien Secured Debt** |  |  |  |  |  |  |  |  |  |
| **Aerospace & Defense** |  |  |  |  |  |  |  |  |  |
| JA Moody LLC | First lien senior secured loan | S + | 5.00% |  | 11/29/2029 | 760444 | 748689 | 760444 |  |
| PAG Holding Corp. | First lien senior secured loan | S + | 4.75% |  | 12/22/2029 | 560510 | 552144 | 560510 |  |
|  |  |  |  |  |  |  | 1300834 | 1320953 | 2.4% |
| **Air Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| US Pack Logistics LLC | First lien senior secured loan | S + | 6.50% |  | 5/25/2026 | 377211 | 374273 | 377211 |  |
|  |  |  |  |  |  |  | 374273 | 377211 | 0.7% |
| **Automobiles** |  |  |  |  |  |  |  |  |  |
| CAP-KSI Holdings, LLC | First lien senior secured loan | S + | 5.25% |  | 6/28/2030 | 1075966 | 1062499 | 1075966 |  |
| CentralBDC Enterprises, LLC | First lien senior secured loan | S + | 5.25% |  | 6/11/2029 | 1040356 | 1028049 | 1040356 |  |
|  |  |  |  |  |  |  | 2090548 | 2116322 | 3.8% |
| **Building Products** |  |  |  |  |  |  |  |  |  |
| LGC US Finco, LLC | First lien senior secured loan | S + | 6.50% |  | 12/20/2025 | 618722 | 615230 | 618722 |  |
| Catalyst Acoustics Group, Inc. | First lien senior secured loan | S + | 5.00% |  | 11/12/2030 | 735647 | 725606 | 735647 |  |
|  |  |  |  |  |  |  | 1340836 | 1354369 | 2.4% |
| **Chemicals** |  |  |  |  |  |  |  |  |  |
| Zep Holdco Inc. | First lien senior secured loan | S + | 5.00% |  | 6/30/2031 | 2085432 | 2064578 | 2064578 |  |
|  |  |  |  |  |  |  | 2064578 | 2064578 | 3.7% |

---

**REMORA CAPITAL PARTNERS II QP, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | |  | | | | |
| **First Lien Secured Debt** |  |  |  |  |  |  |  |  |  |
| **Commercial Services & Supplies** |  |  |  |  |  |  |  |  |  |
| Cultural Experiences Abroad, LLC | First lien senior secured loan | S + | 6.00% |  | 8/16/2028 | 1339800 | 1318262 | 1339800 |  |
| Cultural Experiences Abroad, LLC | First lien senior secured loan | S + | 6.00% |  | 8/16/2028 | 314109 | 308559 | 314109 |  |
| Gator Plastic Intermediate Holdings, LLC | First lien senior secured loan | S + | 7.00% |  | 10/14/2027 | 551407 | 541312 | 549041 |  |
|  |  |  |  |  |  |  | 2168134 | 2202950 | 3.9% |
| **Construction & Engineering** |  |  |  |  |  |  |  |  |  |
| Patuxent Roofing and Contracting, LLC | First lien senior secured loan | S + | 5.50% | 1% | 4/22/2027 | 1511890 | 1491338 | 1491339 |  |
| PRIME ABA HOLDINGS, INC. | First lien senior secured loan | S + | 4.75% |  | 9/16/2030 | 917492 | 900490 | 917492 |  |
| Puris LLC | First lien senior secured loan | S + | 5.75% |  | 6/30/2031 | 876912 | 872775 | 872775 |  |
| Rose Paving, LLC | First lien senior secured loan | S + | 5.00% |  | 11/7/2029 | 1201537 | 1185637 | 1201537 |  |
| Vertex Companies, Inc. | First lien senior secured loan | S + | 5.00% |  | 8/31/2027 | 408988 | 408988 | 408988 |  |
|  |  |  |  |  |  |  | 4859228 | 4892131 | 8.7% |

---

**REMORA CAPITAL PARTNERS II QP, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | |  | | | | |
| **First Lien Secured Debt** |  |  |  |  |  |  |  |  |  |
| **Diversified Consumer Services** |  |  |  |  |  |  |  |  |  |
| Talent Worldwide Inc. | First lien senior secured loan | S + | 6.25% |  | 12/18/2029 | 654610 | 642428 | 654610 |  |
| Talent Worldwide Inc. | First lien senior secured loan | S + | 6.25% |  | 12/18/2029 | 138910 | 135878 | 138910 |  |
|  |  |  |  |  |  |  | 778307 | 793520 | 1.4% |
| **Diversified Financial Services** |  |  |  |  |  |  |  |  |  |
| Aite Group, LLC | First lien senior secured loan | S + | 5.50% | 1.0% | 6/9/2027 | 414495 | 414495 | 414122 |  |
| Global Holdings Interco LLC | First lien senior secured loan | S + | 5.50% |  | 9/16/2027 | 1178370 | 1159608 | 1174342 |  |
|  |  |  |  |  |  |  | 1574104 | 1588465 | 2.8% |
| **Electrical Equipment** |  |  |  |  |  |  |  |  |  |
| Douglas Electrical Components, Inc. | First lien senior secured loan | S + | 4.75% |  | 8/31/2028 | 267161 | 263284 | 267161 |  |
|  |  |  |  |  |  |  | 263284 | 267161 | 0.5% |
| **Food & Staples Retailing** |  |  |  |  |  |  |  |  |  |
| PAK Quality Foods Acquisition LLC | First lien senior secured loan | S + | 5.75% |  | 12/28/2029 | 576074 | 567448 | 576074 |  |
| QVF Acquisition, Inc. | First lien senior secured loan | S + | 5.25% |  | 12/23/2030 | 1153064 | 1137264 | 1153064 |  |
|  |  |  |  |  |  |  | 1704712 | 1729138 | 3.1% |
| **Freight & Logistics** |  |  |  |  |  |  |  |  |  |
| One Stop Mailing LLC | First lien senior secured loan | S + | 6.25% |  | 5/7/2027 | 407959 | 407959 | 407959 |  |
|  |  |  |  |  |  |  | 407959 | 407959 | 0.7% |

---

**REMORA CAPITAL PARTNERS II QP, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | |  | | | | |
| **First Lien Secured Debt** |  |  |  |  |  |  |  |  |  |
| **Health Care Equipment & Supplies** |  |  |  |  |  |  |  |  |  |
| GAINLINE TUBING INTERMEDIATE, LLC | First lien senior secured loan | S + | 5.75% |  | 7/2/2030 | 808003 | 794522 | 808003 |  |
| Modular Devices Acquisition, LLC | First lien senior secured loan | S + | 5.75% |  | 12/28/2026 | 421403 | 416186 | 421403 |  |
|  |  |  |  |  |  |  | 1210708 | 1229405 | 2.2% |
| **Health Care Providers & Services** |  |  |  |  |  |  |  |  |  |
| Science Care Parent Inc. | First lien senior secured loan | S + | 5.25% |  | 7/23/2027 | 1125110 | 1116771 | 1125110 |  |
|  |  |  |  |  |  |  | 1116771 | 1125110 | 2.0% |
| **Health Care Technology** |  |  |  |  |  |  |  |  |  |
| Advent Home Medical LLC | First lien senior secured loan | S + | 5.75% |  | 3/4/2026 | 270956 | 270956 | 270956 |  |
| Advent Home Medical LLC | First lien senior secured loan | S + | 5.75% |  | 3/4/2026 | 136999 | 136999 | 136999 |  |
|  |  |  |  |  |  |  | 407954 | 407954 | 0.7% |
| **Hotels, Restaurants & Leisure** |  |  |  |  |  |  |  |  |  |
| NTM Acquisition Corp. | First lien senior secured loan | S + | 6.75% |  | 6/18/2026 | 682540 | 677944 | 682540 |  |
|  |  |  |  |  |  |  | 677944 | 682540 | 1.2% |
| **Household Products** |  |  |  |  |  |  |  |  |  |
| TPC US Parent, LLC | First lien senior secured loan | S + | 5.75% |  | 11/22/2025 | 648068 | 645307 | 648068 |  |
|  |  |  |  |  |  |  | 645307 | 648068 | 1.2% |
| **Interactive Media & Services** |  |  |  |  |  |  |  |  |  |
| Boostability Parent, Inc. | First lien senior secured loan | S + | 5.25% |  | 7/12/2029 | 1058740 | 1041679 | 1058740 |  |
| Exec Connect Intermediate LLC | First lien senior secured loan | S + | 5.25% |  | 3/11/2029 | 490577 | 483338 | 490577 |  |
|  |  |  |  |  |  |  | 1525017 | 1549316 | 2.8% |

---

**REMORA CAPITAL PARTNERS II QP, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | |  | | | | |
| **First Lien Secured Debt** |  |  |  |  |  |  |  |  |  |
| **IT Services** |  |  |  |  |  |  |  |  |  |
| Crosslake Intermediate, LLC | First lien senior secured loan | S + | 5.00% |  | 5/17/2029 | 551205 | 542704 | 551205 |  |
| Focal Point Solutions Group, LLC | First lien senior secured loan | S + | 5.75% | 0.50% | 7/15/2027 | 719055 | 713340 | 719055 |  |
|  |  |  |  |  |  |  | 1256044 | 1270260 | 2.3% |
| **Machinery** |  |  |  |  |  |  |  |  |  |
| All States Ag Parts, LLC | First lien senior secured loan | S + | 6.26% | 0.50% | 9/1/2026 | 400473 | 400473 | 400473 |  |
| EDGE Intermediate, LLC | First lien senior secured loan | S + | 5.25% |  | 6/5/2029 | 579803 | 570683 | 579803 |  |
| VP Heron Parent, Inc. | First lien senior secured loan | S + | 5.75% |  | 1/8/2029 | 589149 | 579807 | 589149 |  |
|  |  |  |  |  |  |  | 1550962 | 1569424 | 2.8% |
| **Media** |  |  |  |  |  |  |  |  |  |
| CF512, Inc. | First lien senior secured loan | S + | 6.25% |  | 9/1/2026 | 396844 | 396844 | 396844 |  |
| HH Global Finance Limited | First lien senior secured loan | S + | 6.18% |  | 2/25/2027 | 1246084 | 1246084 | 1246084 |  |
|  |  |  |  |  |  |  | 1642929 | 1642929 | 2.9% |

---

**REMORA CAPITAL PARTNERS II QP, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | |  | | | | |
| **First Lien Secured Debt** |  |  |  |  |  |  |  |  |  |
| **Professional Services** |  |  |  |  |  |  |  |  |  |
| Envirotech Services, LLC | First lien senior secured loan | S + | 5.75% |  | 1/18/2029 | 1653139 | 1624343 | 1653139 |  |
| MOXFIVE LLC | First lien senior secured loan | S + | 5.00% |  | 8/16/2029 | 1005881 | 989269 | 1005881 |  |
| MOXFIVE LLC | First lien senior secured loan | S + | 5.00% |  | 8/16/2029 | 784666 | 772224 | 784666 |  |
| Penta Group, LLC | First lien senior secured loan | S + | 4.75% |  | 6/21/2026 | 413882 | 413882 | 413882 |  |
| Providus MPS Buyer LLC | First lien senior secured loan | S + | 5.00% |  | 8/16/2029 | 1216127 | 1196043 | 1216127 |  |
|  |  |  |  |  |  |  | 4995760 | 5073694 | 9.0% |
| **Software** |  |  |  |  |  |  |  |  |  |
| 402 Ventures, LLC | First lien senior secured loan | S + | 5.00% |  | 9/26/2029 | 1230592 | 1214973 | 1230592 |  |
| Concord III, L.L.C. | First lien senior secured loan | S + | 6.00% |  | 12/20/2028 | 833917 | 820738 | 833917 |  |
| Exigo, LLC | First lien senior secured loan | S + | 6.25% |  | 3/15/2027 | 410055 | 410055 | 410055 |  |
| Imagine Acquisitionco, Inc. | First lien senior secured loan | S + | 5.00% |  | 11/16/2027 | 1648633 | 1645417 | 1648633 |  |
| MotionPoint Corporation | First lien senior secured loan | S + | 6.00% |  | 3/31/2026 | 409489 | 409489 | 409489 |  |
| QM Buyer, Inc. | First lien senior secured loan | S + | 5.00% |  | 12/6/2030 | 1103470 | 1088475 | 1103470 |  |
|  |  |  |  |  |  |  | 5589148 | 5636156 | 10.0% |

---

**REMORA CAPITAL PARTNERS II QP, LP**

**CONSOLIDATED SCHEDULE OF INVESTMENTS AS OF JUNE 30, 2025**

**In U.S. Dollars**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Interest(2)** | **Interest(2)** | **Interest(2)** | | | | | |
| <br>**Company(1)** | <br>**Type of Investment** | **Ref. Rate** | **Cash<br> Rate** | **PIK** | <br>**Maturity<br> Date** |<br>**Principal<br> Amount(3)** |<br>**Amortized<br> Cost** |<br>**Fair<br> Value(4)** |<br>**% of<br> Net Assets** |
| **Non-controlled/non-affiliated portfolio company investments** |  |  | | |  | | | | |
| **First Lien Secured Debt** |  |  |  |  |  |  |  |  |  |
| **Trading companies & distributors** |  |  |  |  |  |  |  |  |  |
| AIDC IntermediateCo. 2, LLC | First lien senior secured loan | S + | 5.50% |  | 7/22/2027 | 1230311 | 1230311 | 1230311 |  |
| Dusk Acquisition II Corporation | First lien senior secured loan | S + | 6.00% |  | 7/12/2029 | 1653139 | 1624256 | 1653139 |  |
|  |  |  |  |  |  |  | 2854567 | 2883450 | 5.1% |
| **Transportation and Logistics** |  |  |  |  |  |  |  |  |  |
| A. Stucki Company | First lien senior secured loan | S + | 4.75% |  | 3/27/2030 | 1520566 | 1509755 | 1509755 |  |
|  |  |  |  |  |  |  | 1509755 | 1509755 | 2.7% |
| **Transportation Infrastructure** |  |  |  |  |  |  |  |  |  |
| Site Services Acquisition, LLC | First lien senior secured loan | S + | 5.00% |  | 3/1/2028 | 1647522 | 1629050 | 1647522 |  |
|  |  |  |  |  |  |  | 1629050 | 1647522 | 2.9% |
| **Water Utilities** |  |  |  |  |  |  |  |  |  |
| Greenrise Technologies, LLC | First lien senior secured loan | S + | 6.50% |  | 7/19/2029 | 882207 | 867908 | 882207 |  |
|  |  |  |  |  |  |  | 867908 | 882207 | 1.6% |
| **Total Investments** |  |  |  |  |  |  | 46406620 | 46872549 | 84% |

---

(1) All portfolio company headquarters are based in the United States.

(2) There are no non-accrual nor non-income producing debt investments.
Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured
Overnight Financing Rate, or "S+", or Prime rate, or "P". The spread may change based on the type of rate used.
The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. SOFR loans are typically
indexed to a 30-day, 90-day or 180-day SOFR rates (1M S, 3M S, or 6M S, respectively) at the borrower's option. All securities
are subject to a SOFR or Prime rate floor where a spread is provided, unless noted.

(3) Principal is net of repayments. Cost is net of repayments and
accumulated unearned income.

(4) Valued based on our accounting policy. The value of all securities
was determined using significant unobservable inputs.

**REMORA CAPITAL PARTNERS II QP, LP**

**STATEMENT OF OPERATIONS**

---

| | |
|:---|:---|
|  | **For the**<br>**Six Months** <br> **Ended**<br>**June 30,<br> 2025** |
| **Investment income** | |
| &nbsp;&nbsp;&nbsp;Interest | $2412050 |
| &nbsp;&nbsp;&nbsp;Fees and other income | 9662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 2421712 |
| **Expenses** |  |
| &nbsp;&nbsp;&nbsp;Management fees | 209734 |
| &nbsp;&nbsp;&nbsp;Interest paid to sub-manager | 147436 |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 41221 |
| &nbsp;&nbsp;&nbsp;Fund administrator fees | 27492 |
| &nbsp;&nbsp;&nbsp;Professional fees and other | 50614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 476495 |
| **Net investment income** | 1945216 |
| **Realized and unrealized appreciation on loans funded** |  |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation on loans funded | 112372 |
| **Net gain on loans funded** | 112372 |
| **Net income** | 2057589 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS II QP, LP**

**STATEMENT OF CHANGES IN PARTNERS' CAPITAL** 

**For The Six Months Ended June 30, 2025**

---

| | | | |
|:---|:---|:---|:---|
|  | **General**<br>**Partner** | **Limited**<br>**Partners** |<br>**Total** |
| **Partners' capital,** beginning of year | $84253 | $44001835 | $44086088 |
| **Capital Additions** |  | 12482000 | 12482000 |
| **Capital Withdrawals** | (75) | (2441097) | (2441172) |
| **Allocation of net income** |  |  |  |
| &nbsp;&nbsp;&nbsp;Pro rata allocation | 80 | 2057509 | 2057588 |
| &nbsp;&nbsp;&nbsp;Carry amount allocation | 43536 | (43536) | - |
|  | 43616 | 2013973 | 2057588 |
| **Partners' capital,** end of year | $127793 | $56056711 | $56184504 |

---

*See accompanying notes to financial statements.*

**REMORA CAPITAL PARTNERS II QP, LP**

**STATEMENT OF CASH FLOWS**

**Six Months Ended June 30, 2025**

---

| | |
|:---|:---|
| **Cash flow from operating activities** | |
| Net income | $2057589 |
| Adjustments to reconcile net income to net cash used in operating activities: |  |
| &nbsp;&nbsp;&nbsp;Change in unrealized gain on investments | (112372) |
| &nbsp;&nbsp;&nbsp;Reserve for bad debts | 41221 |
| &nbsp;&nbsp;&nbsp;Loans funded, net of principal repayments | (5990284) |
| &nbsp;&nbsp;&nbsp;Net transfer of investments from related party | (2041821) |
| &nbsp;&nbsp;&nbsp;Amortization of premium and accretion of discount | 42596 |
| &nbsp;&nbsp;&nbsp;Amortization of deferred organizational cost | 10828 |
| Changes in operating assets and liabilities: |  |
| &nbsp;&nbsp;&nbsp;Interest receivable and other accounts receivable | (35691) |
| &nbsp;&nbsp;&nbsp;Other assets | (8301) |
| &nbsp;&nbsp;&nbsp;Due from related party | 141146 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 4908 |
| Net cash used in operating activities | (5890182) |
| **Cash flow from financing activities** |  |
| &nbsp;&nbsp;&nbsp;Capital contributions, net of advance contributions | 13016000 |
| &nbsp;&nbsp;&nbsp;Capital distributions, net of capital distributions payable | (1712289) |
| Net cash provided by financing activities | 11303711 |
| Net change in cash | 5413529 |
| Cash, beginning of period | 9420873 |
| Cash, end of period | $14834402 |

---

*See accompanying notes to financial statements.*

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II QP, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**1. Nature of the Entity and Its Operations**

Remora Capital Partners II QP, LP (the "Partnership") is a Delaware limited partnership which was organized in May 2023 and commenced operations December 4, 2023.

The Partnership's investment objective is to generate a stable fixed interest income stream and preserve capital through superior loan selection and risk mitigation. The Partnership intends to build a diversified portfolio consisting primarily of high-quality, senior secured loans to middle—market companies with headquarters or principal operations in the United States and Canada. The Partnership primarily establishes co-investment programs with loan originators or their affiliates to purchase loan assets (or participations in loan assets) from originators or their affiliates on a secondary basis and makes opportunistic secondary market purchases of loan assets. The Partnership (directly or via sub-manager agreements) may purchase loan assets as a co-lender or as a "club" lender, and may participate in loan syndications. The Partnership may also invest in other types of loans and debt securities, collateralized loan obligations, collateralized debt obligations and other securities, and invest in funds and other pooled investment vehicles managed by sub-managers.

The Partnership's activities are managed by Remora Capital Partners II GP, LLC (the "General Partner"). The General Partner has engaged Remora Capital Management, LLC (the "Manager") to serve as an investment advisor and manager for the Partnership, including with respect to the establishment of co-Investment programs and the selection, evaluation, retention and termination of co-investment partners and loan investments.

The General Partner is responsible for all management decisions on behalf of the Partnership and has discretionary authority over the Partnership's assets. Refer to the Partnership's Offering Memorandum for more information.

The Partnership conducts a continuing private offering of its Interests, which are sold to qualified investors. Investors must be "accredited investors" (as defined in Regulation D under the Securities Act) who are "qualified purchasers" (as defined in the Investment Company Act of 1940).

 **2. Basis of Presentation**

Management has prepared these financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") on behalf of the Partnership. Since the Partnership is considered to be an investment company it follows the specialized accounting and reporting guidance of Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services – Investment Companies".

These financial statements were approved by management and available for issuance on October 31, 2025. Subsequent events have been evaluated through this date.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II QP, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

 **3. Summary of Significant Accounting Policies**

The Partnership carries its investments at fair value. Fair value is an estimate of the exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the security (i.e. the exit price at the measurement date). Fair value measurements are not adjusted for transaction costs. A fair value hierarchy provides for prioritizing inputs to valuation techniques used to measure fair value into three levels:

---

| | |
|:---|:---|
| Level 1 | Observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities. Management may determine that a market is active even if the size of the position held is significant relative to trading volume. Accordingly, a large position in a single security traded in an active market is measured at the quoted market price not adjusted because of the size of the position relative to trading volume (blockage factor) even if the market's normal trading volume is not sufficient to absorb the quantity held and placing orders to sell the position in a single transaction might affect the quoted price. |

---

---

| | |
|:---|:---|
| Level 2 | Inputs other than quoted market prices that are observable, either directly or indirectly, and reasonably available. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the Partnership. |

---

Level 3 Significant unobservable inputs used when there is little or no market activity. Unobservable inputs reflect the assumptions that the General Partner develops based on available information about what inputs market participants would use in valuing the asset or liability.

An asset or liability's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Availability of observable inputs can vary and is affected by a variety of factors. The General Partner uses judgment in determining the fair value of assets and liabilities. Level 3 assets and liabilities involve greater judgment than Level 1 or Level 2 assets and liabilities. The level of input used for valuing securities is not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Partnership's major categories of securities measured at fair value on a recurring basis are as follows:

<u>Loans Funded</u>

The Partnership presents its investments at fair value in accordance with FASB ASC Topic 820, Fair Value Measurements. ASC 820 outlines three acceptable valuation techniques: the market approach, cost approach, and income approach.

The Partnership calculates the fair value of its financial instruments and includes this additional information in the notes to the financial statements when the fair value is different than the carrying value of those financial instruments. At June 30, 2025, the fair values of the Partnership's financial instruments reasonably approximate the carrying values and no additional disclosure is necessary.

<u>Investment Income and Loan Fees</u>

Investment transactions are accounted for on a trade-date basis. Interest is recognized on the accrual basis and includes amortization of purchase discounts and premiums. Discounts and premiums to par value are accreted or amortized into interest income over the contractual life of the respective security. The amortized cost of the investments represents the original cost adjusted for the accretion and amortization of discounts and premiums, if any. If a loan is in default, interest is no longer accrued and any payments received are applied against the cost of the loan unless the loan agreement is amended. Per the terms of the loan agreements, the Partnership may receive loan fees with respect to each loan funded. The loan fees are non-refundable and are recognized as income when received.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II QP, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

 **3. Summary of Significant Accounting Policies** *(concluded)*

<u>Income Taxes</u>

The Partnership does not record a provision for U.S. federal, state, or local income taxes because the partners report their share of the Partnership's income or loss on their income tax returns. However, certain non-United States dividend income may be subject to a tax at prevailing treaty or standard withholding rates with the applicable country or local jurisdiction. The Partnership files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states and foreign jurisdictions.

The Partnership is required to determine whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authority, based on the technical merits of the position. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authorities. Based on its analysis, the Partnership has determined that it has not incurred any liability for unrecognized tax benefits as of June 30, 2025, The Partnership does not expect that its assessment regarding unrecognized tax benefits will materially change over the next twelve months. However, the Partnership's conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, compliance with U.S. federal, U.S. state and foreign tax laws, and changes in the administrative practices and precedents of the relevant taxing authorities.

<u>Cash</u>

Substantially all the Partnership's cash is held by one financial institution. Such deposits may, at times, exceed federally insured limits.

<u>Use of Estimates</u>

The preparation of financial statements in conformity with GAAP requires the Partnership's management to make estimates and assumptions in determining the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

 **4. Fair Value Measurements**

The Partnership's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Partnership's significant accounting policies in Note 3. The following table presents information about the Partnership's assets measured at fair value as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Loans funded at fair value** | | | | |
| &nbsp;&nbsp;&nbsp;Loans funded | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 46872549 | 46872549 |
| **Total Loans funded** | $- | $- | $46872549 | $46872549 |

---

The Partnership's policy is to recognize transfers in and out of each level of the fair value hierarchy as of the beginning of the period. For the six month period ended June 30, 2025, there were no transfers in or transfers out of Level 1, 2 or 3. Refer to the schedule of investments for investments listed by country and industry.

Investments within the Level 3 hierarchy totaling $46,872,549 were valued based on observable and unobservable but non-quantitative inputs as of June 30, 2025. As of June 30, 2025, the fair value is based on the cost basis plus amortized original issue discount, and is adjusted for broker quotes, which represents the General Partner's estimate of net realizable value.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II QP, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

 **5. Investment Risk**

The Partnership's investing activities expose it to various types of risks that are associated with the markets and financial instruments in which it invests. The significant types of financial risks to which the Partnership is exposed include, but are not limited to, market risk, credit risk, liquidity risk and interest rate risk.

<u>Market Risk</u>

Market risk encompasses the potential for both losses and gains and includes, but is not limited to, price risk. The Partnership's investments are long-term and illiquid and there is no assurance that the Partnership will achieve investment objectives including targeted returns.

<u>Credit Risk</u>

The value of the Partnership's investments will generally fluctuate in response to company, political, or economic developments and can decline significantly over short periods of time or during periods of general or regional economic difficulty. Lower-quality debt securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. Lower-quality debt securities can be thinly traded or have restrictions on resale, making them difficult to sell at an acceptable price. The default rate for lower-quality debt securities is likely to be higher during economic recessions or periods of high interest rates.

<u>Liquidity Risk</u>

The Partnership generally invests in loans and debt securities of private companies. Substantially all of these securities are subject to legal and other restrictions on resale or will be otherwise less liquid than publicly traded securities. The illiquidity of its investments may make it difficult for the Partnership to sell such investments if the need arises. In addition, if the Partnership is required to liquidate all or a portion of its portfolio quickly, the Partnership may realize significantly less than the value at which it had previously recorded its investments. The extent of this exposure is reflected in the carrying value of these financial assets and recorded in the Statement of Financial Condition. Among other things liquidity could be impaired by an inability to access secured and/or unsecured sources of financing.

<u>Interest Rate Risk</u>

The performance of the Partnership's investment income will generally fluctuate with, among other things, changes in prevailing interest rates, general economic conditions, changes in the credit market, credit quality, the size and composition of the assets in our portfolio developments or trends in any particular industry and the financial condition of the issuer and other business developments.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II QP, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

 **5. Investment Risk** *(concluded)*

Interest rate sensitivity refers to the change in earnings that may result from changes in the level of interest rates. As June 30, 2025, 100% of the investments at fair value in our portfolio were at variable rates, subject to interest rate floors.

 **6. Related Party Transactions**

The Partnership pays a quarterly management fee to the General Partner for providing investment management services to the Partnership as of the first business day of each quarter in advance equal to 0.25%-0.375% (1%-1.5% per annum) of the total principal amount of the partnership's portfolio investments (including borrowings used to acquire portfolio investments) as of the first business day of each quarter. The General Partner, in its sole discretion, may agree to waive or reduce the management fee rate for certain limited partners. The Partnership incurred management fees of $209,734 for the six months ended June 30, 2025.

In addition to managing the Partnership, the General Partner also manages Remora Capital Partners II, LP, a Delaware limited partnership ("RCP II LP"). The Partnership and RCP II LP operate as parallel fund investment vehicles that invest side-by-side pro-rata, based on available capital, in the same portfolio. The Partnership and RCP II LP have entered into a rebalancing agreement whereby, during the investment period, the investments are rebalanced based upon the beginning capital in each entity on a monthly basis to enable pro-rata investment in the same portfolio. For the three months ended June 30, 2025, the Partnership transferred $886,974 principal amount of loans (net of sales) from RCP II LP per the terms of the rebalancing agreement.

As of June 30, 2025, $1,350,809 of rebalancing transactions and other shared expenses remain outstanding and are recorded as due to related party on the Statement of Financial Condition.

 **7. Partners' Capital**

<u>Allocations of Profits and Losses</u>

Profits and losses are generally allocated among the partners in accordance with their respective ownership interests at the time such amounts are recognized for financial reporting purposes under U.S. GAAP. Such amounts may differ significantly from amounts reported for income tax purposes.

<u>Capital Contributions and Withdrawals</u>

To the extent the General Partner determines, in its sole discretion, that the Partnership has available liquidity, with at least forty-five (45) days' prior written notice, a limited partner may withdraw all of their capital account as of the last day of any quarter. Upon such withdrawal, a limited partner would receive 85% of their capital account value (90% of which is paid at withdrawal and the remaining 10% is paid after the completion of the next annual audit) and the Partnership would retain the additional 15% early withdrawal penalty. The General Partner may waive these withdrawal restrictions for any limited partner.

---

| |
|:---|
| **REMORA CAPITAL PARTNERS II QP, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

---

**7. Partners' Capital** *(concluded)*

All net distributable proceeds shall be paid or distributed, as defined in the Limited Partnership Agreement in the following order of priority:

*first*, one hundred percent (100%) to such limited partner until such limited partner has received cumulative distributions of investment proceeds equal to its aggregate capital contributions;

*second*, one hundred percent (100%) to such limited partner until cumulative distributions of investment proceeds to such limited partner are sufficient to provide such limited partner with an internal rate of return of six percent (6%) per annum, compounded annually, with respect to such limited partner's aggregate capital contributions, calculated from the date each such capital contribution was funded until the date of distribution thereof;

*third*, one hundred percent (100%) to the General Partner until such time as the General Partner has received distributions in respect of such limited partner equal to twenty percent (20%) of the sum of all distributions made to such limited partner in excess in excess of the limited partners aggregate capital contributions and all distributions to the General Partner with respect to amounts apportioned to such limited partner and,

*fourth*, eighty percent (80%) to such limited partner and twenty percent (20%) to the General Partner.

For the six months ended June 30, 2025, carried interest allocated to the General Partner was $43,536.

 **8. Fund Administrator**

Panoptic Fund Administration, Inc. serves as the Partnership's administrator and performs certain administrative and clerical services on behalf of the Partnership.

 **9. Financial Highlights**

Financial highlights for the six months ended June 30, 2025, are as follows:

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| | |
|:---|:---|
| Total return | 4.20% |
| Carried interest | -0.10% |
| Total return after carried interest | 4.10% |
| Expense ratio | 0.90% |
| Carried interest | 0.10% |
| Expense plus carried interest ratio | 1.00% |
| Net investment income ratio | 3.80% |

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Financial highlights are calculated for the limited partner class taken as a whole. The ratios' inputs, excluding non-recurring income and expenses, have been annualized. An individual limited partner's return and ratios may vary based on different management fee arrangements and the timing of capital transactions. The net investment income ratio does not reflect the effects of change in unearned carried interest to the General Partner.

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| |
|:---|
| **REMORA CAPITAL PARTNERS II QP, LP** |
| **NOTES TO THE FINANCIAL STATEMENTS** |

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 **10. Subsequent Events**

The Partnership has performed an evaluation of subsequent events through October 31, 2025, which is the date the financial statements were available to be issued.

On April 3, 2025, the General Partner and the Manager, began a consent solicitation to amend the limited partnership agreements of the Fund. As of April 30, 2025, a majority of the limited partners voted to approve the First Amendment to the Fund's Amended and Restated Limited Partnership Agreement. The First Amendment authorizes the Partnership, in the sole discretion of the General Partner, to convert to corporate form or otherwise restructure or reorganize for the purpose of electing (or for the purchaser of the assets of the Partnership or the surviving successor entity in the merger, restructuring or reorganization, as applicable) to elect to be regulated as a business development company (a "BDC") under the Investment Company Act (as defined in Section 2(c)).

Remora Capital Corporation (the "Company") was formed on October 1, 2024 as a Maryland corporation. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). In addition, the Company intends to elect to be treated for U.S. federal income tax purposes, and to qualify annually thereafter, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). The Company is externally managed by Remora Capital Management, LLC (the "Adviser" and "Remora"), a Delaware limited liability company that is registered as an investment adviser under the Investment Advisers Act of 1940, as amended. The Adviser oversees the management of the Company's activities and is responsible for making investment decisions with respect to the Company's portfolio.

On September 5, 2025, immediately prior to the Company electing to be regulated as a BDC (the "BDC Election"), each of Remora Capital Partners I, LP ("Fund I"), Remora Capital Partners II, LP (the Partnership or "Fund II"), Remora Capital Partners I QP LP ("Fund I QP"), and Remora Capital Partners II QP, LP ("Fund II QP" and collectively with Fund I, Fund II, and Fund I QP, the "Funds") merged with and into the Company (the "Mergers"). As a result of the Mergers, the Company issued 16,213,447.182 shares of common stock, par value $0.001 per share ("Common Stock"), 332,696 shares of preferred stock, par value $0.001 per share ("Preferred Stock"), and acquired a portfolio of assets consisting of $243 million of loans to 82 borrowers (including undrawn commitments of revolving credit facilities and delayed draw term loans), cash and other assets totaling $266.7 million, which had an aggregate net asset value ("NAV") of $165,461,431.82. After the Mergers, the Company made the BDC Election and commenced operations.

The description above is only a summary of the material provisions of the Merger Agreements and is qualified in its entirety by reference to copies of each of the Merger Agreements, which are filed as Exhibits 2.1, 2.2, 2.3, and 2.4 to the Company's current report on Form 8-K filed on September 11, 2025 and incorporated herein by reference.

On September 5, 2025, the Company refinanced the Truist Credit Facility and entered into a Revolving Credit and Security Agreement (the "Credit Facility Agreement") for a special purpose vehicle financing credit facility (the "Credit Facility") by and among RCC SPV, LLC ("RCC SPV") as borrower, the Company, as servicer, Atlas, as administrative agent, Atlas Securitized Products, L.P., as lead arranger, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as custodian and as document custodian, each of the managing agents party thereto from time to time, and each of the conduit lenders and institutional lenders party thereto from time to time. The Credit Facility provides for $150 million of initial commitments with (x) a committed accordion feature pursuant to which the commitments shall be increased to $250 million, at the Company's option with 15 business days' notice, or by no later than the first anniversary of the closing date of the Credit Facility, and (y) an uncommitted accordion feature that allows for commitments up to $500 million from new and existing lenders on the same terms as the existing commitments, subject to market conditions. Advances under the Credit Facility bear interest at one-month Term SOFR plus an applicable margin of 2.00% during the revolving period. Subject to certain performance conditions, the applicable margin could increase to 2.25% during the revolving period and could range up to 2.50% during the amortization or "End of Life Option" periods (as defined in the Credit Facility Agreement). The Credit Facility Agreement provides for an unused commitment fee of 0.50% per annum on the unused commitments up to 50% of the commitments and 0.75% on the unused commitments in excess of 50% of the commitments, as well as other customary fees, from the effective date of the Credit Facility through September 5, 2028. The Credit Facility matures on September 5, 2030; provided, however, that RCC SPV and Atlas may mutually agree to extend the maturity date to September 5, 2032 pursuant to the "End of Life Option" under the Credit Facility Agreement.

The description above is only a summary of the material provisions of the SPV Facility and is qualified in its entirety by reference to the copy of the Credit Agreement, which is filed as Exhibit 10.8 to the Company's current report on Form 8-K filed on September 11, 2025 and is incorporated herein by reference thereto.

## Exhibit 99.9

**Exhibit 99.9**

**COMPARATIVE FEES AND EXPENSES**

**Comparative Fees and Expenses Relating to the Transaction**

The following tables are intended to assist you in understanding the costs and expenses that an investor in the shares of common stock, par value $0.001 per share (the "Common Stock"), of Remora Capital Corporation (the "Company") or the limited partnership interests of (i) Remora Capital Partners I, LP or Remora Capital Partners I QP LP (collectively, "Fund I") or (ii) Remora Capital Partners II, LP or Remora Capital Partners II QP, LP (collectively, "Fund II" and together with Fund I, the "Private Funds" and such limited partnership interests, "LP Interests"), respectively, bears directly or indirectly, and, based on the assumptions set forth below, the pro forma costs and expenses estimated to be incurred by the Company in the first year following the closing of the Mergers. The Company and Private Funds caution you that some of the percentages indicated in the table below are estimates and may vary. Except where the context suggests otherwise, whenever this document refers to fees or expenses paid or to be paid by "you," "the Company," "Fund I," or "Fund II," shareholders will indirectly bear such fees or expenses as investors in the Company, Fund I, or Fund II, as applicable. The table below is based on information as of September 5, 2025 (the "Merger Date"), except as noted below. There are no material differences in the accounting policies of the Company and any of the Private Funds.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Actual <br> as of September 5, 2025** | **Actual <br> as of September 5, 2025** | **Actual <br> as of September 5, 2025** | **Pro Forma** |
| <br>***Shareholder transaction expenses*** | **The Company<br> (acquiring fund)** | **Fund I<br> (target fund)** | **Fund II<br> (target fund)** | **The Company<br> (surviving fund)** |
| Sales load (as a percentage of offering price) |  |  |  |  |
| Offering expenses (as a percentage of offering price) |  |  |  |  |
| Distribution reinvestment program expenses | None<sup>(1)</sup> |  |  | None<sup>(1)</sup> |
| Total shareholder transaction expenses (as a percentage of offering price) |  |  |  |  |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Estimated as of September 5, 2025** | **Estimated as of September 5, 2025** | **Estimated as of September 5, 2025** | **Pro Forma** |
| <br>******Estimated annual expenses*** *(as a percentage of net assets attributable to shares of Common Stock or LP Interests, as applicable):*<sup>(2)</sup>***  | **The Company<br> (acquiring fund)** | **Fund I<br> (target fund)** | **Fund II<br> (target fund)** | **The Company<br> (surviving fund)** |
| Base management fees<sup>(3)</sup> | -% | 3.36% | 1.47% | 1.14% |
| Incentive fees or carried interest fees<sup>(4)</sup> | -% | 0.58% | 0.13% | -% |
| Interest payments on borrowed funds<sup>(5)</sup> | -% | 6.59% | -% | 3.72% |
| Other expenses<sup>(6)</sup> | -% | 0.43% | 0.33% | 2.03% |
| Acquired fund fees and expenses | -% | -% | -% | -% |
| Total annual expenses<sup>(7)</sup> | -% | 10.96% | 1.93% | 6.89% |

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(1) The estimated expenses associated with the Company's
distribution reinvestment program is included in "Other expenses." The service fee, if any, of the Program Administrator
for the distribution reinvestment program, and the expenses incurred in administering the distribution reinvestment program, will be
paid for by the Company. There are no brokerage charges or other charges to holders of the Common Stock who participate in the distribution
reinvestment program.

(2) "Net assets attributable to shares of Common Stock
or LP Interests, as applicable" equals net assets at September 5, 2025.

(3) With respect to the Company, the base management fee paid
to the Adviser is calculated at an annual rate of 1.00% of the par value of the Company's loan assets and similar portfolio investments
outstanding (notwithstanding any lower valuation assigned to such loan asset or similar portfolio investment by the Board of Directors
of the Company (the "Board") or a valuation designee). For the twelve months following September 5, 2025 (the "BDC
Election Date"), the Adviser has agreed to waive 25% of its management fees under the Investment Management Agreement (the "Fee
Waiver Agreement"). Any such waiver of management fees will not be revocable during the proposed term and the amounts waived will
not be subject to any right of future recoupment in favor of the Adviser. For the avoidance of doubt, the Fee Waiver Agreement does not
amend the calculation of the management fee as set forth in the Investment Management Agreement. Other than the waiver contemplated by
the Fee Waiver Agreement, the terms of the Investment Management Agreement remain in full force and effect. The effect of this waiver
is reflected in the table above.

In addition, with respect to the Company, the Company has also entered into sub-advisory agreements with Crescent Capital Group LP ("Crescent" and such sub-advisory agreement, the "Crescent Sub-Advisory Agreement") and Kayne Anderson Capital Advisors, L.P. ("Kayne" and such sub-advisory agreement, the "Kayne Sub-Advisory Agreement"). In the pro forma column for the Company (surviving fund), the estimated expenses associated with these sub-advisory agreements account for a total of 0.05% of net assets attributable to shares of Common Stock. For more detailed information about the management fees paid to Crescent and Kayne, see the Company's Current Report on Form 8-K (File No. 814-01897) filed with the Securities and Exchange Commission on September 11, 2025.

With respect to each of the Private Funds, the management fee paid to Remora is tested and paid on a quarterly basis in advance, calculated at an annual rate of (i) 1.250% of capital commitments by limited partners to the respective Private Fund of $25,000,000 or more, (ii) 1.375% of capital commitments by limited partners to the respective Private Fund between $5,000,000 and $24,999,999, and (iii) 1.500% of capital commitments by limited partners to the respective Private Fund of less than $5,000,000, multiplied by the limited partner's pro rata share of the value of the respective Private Fund's portfolio investments (including borrowings used to acquire portfolio investments) as of the first day of each calendar quarter during the term of the respective Private Fund. For purposes of this calculation, all values are valued at the outstanding principal amount or any asset or portfolio investment as of the applicable date. Certain limited partners in each of the Private Funds received fee discounts at the discretion of the general partners of such Private Fund. The percentages disclosed represent estimated base management fees for the current fiscal year based on an annualization of the actual management fee percentages paid for the period from July 1, 2025 to September 5, 2025.

Each of the Private Funds also entered into sub-management agreements with each of KAPC Manager, L.P. ("Kayne Manager"), Eldridge Credit Advisers, LLC ("Eldridge"), and PennantPark Investment Advisers, LLC ("PennantPark"). The sub-management fee paid to Kayne Manager is calculated at a quarterly rate equal to 0.75% per annum of the amount of capital invested by the Private Funds in portfolio investments originated by Kayne Manager for the Private Funds, less any returns of such capital (but not net of income or capital appreciation received by the Private Funds), computed by Remora for each day during the applicable calendar quarter. The sub-management fee payable to Eldridge is calculated at a quarterly rate equal to 0.80% per annum of the aggregate value of all portfolio investments held in the account managed by Eldridge for the respective Private Fund as of such date based on the Eldridge's most current valuation; provided that the value of any particular investment shall not exceed the outstanding principal balance of such investment as of such date computed by Remora for each day during the applicable calendar quarter. Finally, the sub-management fee paid to PennantPark was not included in the presentation of the Private Funds nor the pro forma column. All investments related to the PennantPark agreement were sold on August 21, 2025, and the PennantPark sub-management agreement was terminated prior to the Mergers. These fees were not included to create a more appropriate comparative presentation to the pro forma column based on the assets remaining in the portfolio as of September 5, 2025. Please see the "Other expenses" footnote for more information related to the Eldridge fees on a pro forma basis.

(4) With respect to the Company, an incentive fee is payable
to the Adviser consisting of two components that are independent of each other, with the result that one component may be payable even
if the other is not: (i) an incentive fee on investment income and (ii) an incentive fee on capital gains. For more detailed information
about the Incentive Fee, see the Company's Current Report on Form 8-K (File No. 814-01897) filed with the Securities and Exchange
Commission on September 11, 2025. As we cannot predict whether we will meet the necessary performance targets, we have assumed an incentive
fee of 0.00% in this chart.

The Private Funds each charge carried interest fees as follows: (i) first, 100% to the limited partner until the cumulative amount of investment proceeds distributed to such limited partner pursuant to this clause (i) is equal to the aggregate capital contributions of such limited partner made through the date of such distribution; (ii) second, 100% to such limited partner until the cumulative amount of investment proceeds distributed to such limited partner pursuant to this clause (ii) is sufficient to provide such limited partner with a 6% cumulative internal rate of return compounded annually on the amounts included in clause (i) above; (iii) third, 100% to the general partner of the respective Private Fund until the cumulative amount of investment proceeds attributable to such limited partner and distributed to the general partner pursuant to this clause (iii) is equal to 20% of the sum of (x) distributions made to such limited partner pursuant to clause (ii) above and (y) the distributions made to the general partner pursuant to this clause (iii); and (iv) thereafter, 80% to such limited partner and 20% to the general partner. Actual carried interest fees accrued for Fund I and Fund II were $368,515 and $61,270, respectively, for the year-to-date period ended September 5, 2025. These year-to-date amounts have been annualized for the presentation herein. This annualization assumption may not be representative of actual results if the Private Funds had continued operations.

(5) The Company and/or Fund I may borrow funds to make investments,
including before either fund has fully invested the proceeds of their respective continuous offerings. Fund II retains an unlevered investment
strategy. To the extent that either of the Company or Fund I determines it is appropriate to borrow funds to make investments, the costs
associated with such borrowing will be indirectly borne by holders of the Common Stock or LP Interests, respectively. Interest payments
on borrowed funds with respect to the Company represents estimated annual interest payments based on actual interest rate terms under
the Company's Revolving Credit and Security Agreement for its special purpose vehicle financing credit facility by and among RCC
SPV, LLC, as borrower, the Company, as servicer, Atlas Securitized Products Administration, L.P., as administrative agent, Atlas Securitized
Products, L.P., as lead arranger, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S.
Bank National Association, as custodian and as document custodian, each of the managing agents party thereto from time to time, and each
of the conduit lenders and institutional lenders party thereto from time to time.

The Company's and Fund I's ability to incur leverage during the following 12-month period depends, in large part, on the amount of money the fund is able to raise through the sale of their securities in their respective offerings and the availability of financing in the market. The Fund I leverage facility's revolving period had terminated as of August 3, 2025, and Fund I had total borrowings, net of excess cash, of $84.3 million outstanding with no further ability to borrow.

The Company's interest and other debt expenses are based on borrowing levels and interest rates consistent with the total borrowings outstanding as of September 5, 2025, net of excess cash, including all interest and amortization of debt financing/issuance costs. As of September 5, 2025, as reflected in the pro forma column, the Company had $80.1 million in borrowings outstanding, net of excess cash. For the period from September 5, 2025 through September 30, 2025, the Company had a weighted average interest rate of 6.25%. This rate does not include deferred financing costs and other credit facility specific expenses, which are included in the calculation as presented herein.

Fund I's interest and other debt expenses are based on borrowing levels and interest rates consistent with the levels during the period ended June 30, 2025, including all interest and amortization of debt financing/issuance costs. As of June 30, 2025, Fund I had $90.7 million in borrowings outstanding under its credit facility. As of September 5, 2025, Fund I had a weighted average interest rate of 6.71%. This rate does not include ticking fees, deferred financing costs and other credit facility specific expenses, which are included in the calculation as presented herein.

All columns represent the annualized interest cost of borrowings outstanding, net of excess cash, as of September 5, 2025 plus deferred financing costs and other credit facility specific expenses.

(6) "Other expenses" includes estimated accounting,
legal and auditing fees, reimbursement of expenses to each fund's respective administrator, and loan administration, insurance,
technology, printing, valuation and amortization of capitalized legal and technology expenses. In addition, Other expenses for the Company
includes fees payable to the members of the Board who are not "interested persons" of the Company, as defined in the 1940
Act (the "Independent Directors"), and fees payable to Eldridge pursuant to the Loan Sourcing Agreement between the Company,
the Adviser, and Eldridge. For the Private Funds, Other expenses represents the estimated consolidated annual other expenses of the Private
Funds and their respective subsidiaries. For the Company, Other expenses reflects the estimated consolidated annual other expenses of
the Company and its subsidiaries based on service provider contracts as of September 5, 2025 and based on the total pro forma loan assets
of the Company as of September 5, 2025 where applicable.

(7) With respect to the Company and Fund I, "Total annual
expenses" as a percentage of net assets attributable to shares of Common Stock or LP Interests, as applicable, are higher than
the total annual expenses percentage would be for a company that is not leveraged. The Company and Fund I borrow money to leverage and
increase their total assets. The SEC requires that the "Total Annual Expenses" percentage be calculated as a percentage of
net assets (defined as total assets less indebtedness and before taking into account any incentive fees payable during the period), rather
than the total assets, including assets that have been funded with borrowed monies. The reason for presenting expenses as a percentage
of net assets attributable to holders of shares of Common Stock or LP Interests, as applicable, is that holders of the shares of Common
Stock of the Company or holders of LP Interests of the Private Funds, or the Company after the closing of the Mergers, as applicable,
bear all of such fees and expenses.