# EDGAR Filing Document

**Accession Number:** 0002006189
**File Stem:** 0002071691-26-005292
**Filing Date:** 2026-2
**Character Count:** 31775
**Document Hash:** 2552bd6fcd47fa3b9852fece54b20253
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-005292.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0002071691-26-005292

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First Eagle Real Estate Debt Fund
- **CENTRAL INDEX KEY:** 0002006189

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23925
- **FILM NUMBER:** 26696582

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** (212) 698-3300

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Eagle Real Estate DebtFund
- **DATE OF NAME CHANGE:** 20241226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Eagle Real Estate Lending Fund
- **DATE OF NAME CHANGE:** 20231227

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** First Eagle Real Estate Debt Fund

- **b. Investment Company Act file number:** 811-23925

- **c. CIK number of Registrant:** 0002006189

- **d. LEI of Registrant:** 254900P954R92WUROE68

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1345 Avenue of the Americas

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10105

  - **Telephone number:** 800-334-2143

**Item A.2. Information about the Series.**

- **a. Name of Series:** First Eagle Real Estate Debt Fund

- **c. LEI of Series:** 254900P954R92WUROE68

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $54005408.74

**Total Liabilities:** $3739163.33

**Net Assets:** $50266245.41

**Amount of Assets Invested in Other Investment Companies:** $1639844.92

**Cash Not Reported:** $1262132.26

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -1004.46298900 | **1-Year:** -3097.42150200 | **5-Year:** -1017.93184500 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.73%                | 0.77%                | 0.73%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $37.57                   | $2700.23                                   |
| Month 2  | $32267.68                | $-1759.40                                  |
| Month 3  | $224.72                  | $-1483.85                                  |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** Securities Portfolio

### Schedule of Portfolio Investments

| Name                        | Title                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bellemeade Re Ltd.          | Bellemeade Re Ltd., Series 2025-1, Class M2         | CUSIP: 07876NAD7<br>LEI: N/A                  | Long             |  | CORP              | BM        |   1500000 | PA      | $1506548.70   | 3.00%             | 2035-10-25      | Floating      | 7.77%                 | Yes           |                  2 | On Loan: No      |
| Bellemeade Re Ltd.          | Bellemeade Re Ltd., Series 2025-1, Class B1         | CUSIP: 07876NAE5<br>LEI: N/A                  | Long             |  | CORP              | BM        |   1600000 | PA      | $1608560.80   | 3.20%             | 2035-10-25      | Floating      | 8.92%                 | Yes           |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund | BlackRock Liquidity FedFund                         | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |    667588 | NS      | $667588.20    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ABC_ANDOVER_LLC             | Residential Transitional Loan ABC_ANDOVER_LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   1080400 | PA      | $1080400.00   | 2.15%             | 2026-03-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 3_RIVERVIEW_MB              | Residential Transitional Loan 3_RIVERVIEW_MB        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    937950 | PA      | $937950.00    | 1.87%             | 2026-03-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| NYC_HOLDING_GROUP           | Residential Transitional Loan NYC_HOLDING_GROUP     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    378000 | PA      | $378000.00    | 0.75%             | 2026-07-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| STARBOARD_VA_LLC            | Residential Transitional Loan STARBOARD_VA_LLC      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    672000 | PA      | $672000.00    | 1.34%             | 2026-01-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| FREDDY_LLC                  | Residential Transitional Loan FREDDY_LLC            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    243000 | PA      | $243000.00    | 0.48%             | 2026-04-01      | Fixed         | 12.34%                | Yes           |                  3 | On Loan: No      |
| RAYNA_PROPERTIES_LLC        | Residential Transitional Loan RAYNA_PROPERTIES_LLC  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    300000 | PA      | $300000.00    | 0.60%             | 2026-04-01      | Fixed         | 7.30%                 | Yes           |                  3 | On Loan: No      |
| JMHOMERS_LLC                | Residential Transitional Loan JMHOMERS_LLC          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    210000 | PA      | $210000.00    | 0.42%             | 2026-04-01      | Fixed         | 11.09%                | Yes           |                  3 | On Loan: No      |
| PROPERTIES_BY_T&M           | Residential Transitional Loan PROPERTIES_BY_T&M     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    119700 | PA      | $119700.00    | 0.24%             | 2026-04-01      | Fixed         | 10.84%                | Yes           |                  3 | On Loan: No      |
| HENRY_INVESTMENT            | Residential Transitional Loan HENRY_INVESTMENT      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    531200 | PA      | $531200.00    | 1.06%             | 2026-04-01      | Fixed         | 11.09%                | Yes           |                  3 | On Loan: No      |
| LE_ROI_UNIQUE_LLC           | Residential Transitional Loan LE_ROI_UNIQUE_LLC     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    107600 | PA      | $107600.00    | 0.21%             | 2026-04-01      | Fixed         | 10.34%                | Yes           |                  3 | On Loan: No      |
| SIMPLE_HOME_BUYERS          | Residential Transitional Loan SIMPLE_HOME_BUYERS    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    209700 | PA      | $209700.00    | 0.42%             | 2026-04-01      | Fixed         | 10.34%                | Yes           |                  3 | On Loan: No      |
| 1018_HANCOCK_AVE_LLC        | Residential Transitional Loan 1018_HANCOCK_AVE_LLC  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    773999 | PA      | $773999.31    | 1.54%             | 2026-02-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| JAN_REALTY_LLC              | Residential Transitional Loan JAN_REALTY_LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    196000 | PA      | $196000.00    | 0.39%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| CANOPY_WEST_LLC             | Residential Transitional Loan CANOPY_WEST_LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    197250 | PA      | $197250.00    | 0.39%             | 2026-11-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| NELLY_HOMES_CORP            | Residential Transitional Loan NELLY_HOMES_CORP      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    313035 | PA      | $313035.00    | 0.62%             | 2026-05-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| GMS_PROPERTY_INVEST         | Residential Transitional Loan GMS_PROPERTY_INVEST   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    150300 | PA      | $150300.00    | 0.30%             | 2026-05-01      | Fixed         | 10.04%                | Yes           |                  3 | On Loan: No      |
| KTL_REAL_ESTATE_LLC         | Residential Transitional Loan KTL_REAL_ESTATE_LLC   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    164000 | PA      | $164000.00    | 0.33%             | 2026-05-01      | Fixed         | 10.04%                | Yes           |                  3 | On Loan: No      |
| HHM_PROPERTIES_LLC          | Residential Transitional Loan HHM_PROPERTIES_LLC    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    279750 | PA      | $279750.00    | 0.56%             | 2026-05-01      | Fixed         | 7.75%                 | Yes           |                  3 | On Loan: No      |
| J&M_MOORE_ENTERPRISE        | Residential Transitional Loan J&M_MOORE_ENTERPRISE  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    241600 | PA      | $241600.00    | 0.48%             | 2026-05-01      | Fixed         | 7.80%                 | Yes           |                  3 | On Loan: No      |
| TWO_FRIENDS_ONEGOAL         | Residential Transitional Loan TWO_FRIENDS_ONEGOAL   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    289600 | PA      | $289600.00    | 0.58%             | 2026-05-01      | Fixed         | 8.20%                 | Yes           |                  3 | On Loan: No      |
| AMCAN_CONSULTING_LLC        | Residential Transitional Loan AMCAN_CONSULTING_LLC  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    228000 | PA      | $228000.00    | 0.45%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| CABHOMEZLLC                 | Residential Transitional Loan CABHOMEZLLC           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    193000 | PA      | $193000.00    | 0.38%             | 2026-05-01      | Fixed         | 9.29%                 | Yes           |                  3 | On Loan: No      |
| ARLINGTON_AVE_PROP          | Residential Transitional Loan ARLINGTON_AVE_PROP    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    478000 | PA      | $478000.00    | 0.95%             | 2026-05-01      | Fixed         | 10.04%                | Yes           |                  3 | On Loan: No      |
| JANDS_ENTERPRISES           | Residential Transitional Loan JANDS_ENTERPRISES     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    634445 | PA      | $634445.00    | 1.26%             | 2027-05-01      | Fixed         | 9.30%                 | Yes           |                  3 | On Loan: No      |
| 4_PILLARS_PROPS_LLC         | Residential Transitional Loan 4_PILLARS_PROPS_LLC   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    177900 | PA      | $177900.00    | 0.35%             | 2026-05-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| PALMTREE_REAL_ESTATE        | Residential Transitional Loan PALMTREE_REAL_ESTATE  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    205300 | PA      | $205300.00    | 0.41%             | 2026-05-01      | Fixed         | 8.29%                 | Yes           |                  3 | On Loan: No      |
| GORE_PROPERTIES_LLC         | Residential Transitional Loan GORE_PROPERTIES_LLC   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    224100 | PA      | $224100.00    | 0.45%             | 2026-05-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| JHARRIS_INVESTMENTS         | Residential Transitional Loan JHARRIS_INVESTMENTS   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |     60000 | PA      | $60000.00     | 0.12%             | 2026-05-01      | Fixed         | 8.04%                 | Yes           |                  3 | On Loan: No      |
| CADOUS_LLC                  | Residential Transitional Loan CADOUS_LLC            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    411800 | PA      | $411800.00    | 0.82%             | 2026-01-01      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| LEAH_COURT_LLC              | Residential Transitional Loan LEAH_COURT_LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    271003 | PA      | $271003.00    | 0.54%             | 2026-04-01      | Fixed         | 8.85%                 | Yes           |                  3 | On Loan: No      |
| LEAH_COURT_LLC              | Residential Transitional Loan LEAH_COURT_LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    275291 | PA      | $275291.00    | 0.55%             | 2026-04-01      | Fixed         | 8.85%                 | Yes           |                  3 | On Loan: No      |
| LEAH_COURT_LLC              | Residential Transitional Loan LEAH_COURT_LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    262861 | PA      | $262861.00    | 0.52%             | 2026-04-01      | Fixed         | 8.85%                 | Yes           |                  3 | On Loan: No      |
| LEAH_COURT_LLC              | Residential Transitional Loan LEAH_COURT_LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    273964 | PA      | $273964.00    | 0.55%             | 2026-04-01      | Fixed         | 8.85%                 | Yes           |                  3 | On Loan: No      |
| BLUE_SKY_INVEST_LLC         | Residential Transitional Loan BLUE_SKY_INVEST_LLC   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    198900 | PA      | $198900.00    | 0.40%             | 2025-12-24      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 1202_CARROLL_LLC            | Residential Transitional Loan 1202_CARROLL_LLC      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   1660000 | PA      | $1660000.00   | 3.30%             | 2026-06-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 205_FAIRVIEW_AVE            | Residential Transitional Loan 205_FAIRVIEW_AVE      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   1923000 | PA      | $1923000.00   | 3.83%             | 2026-07-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| PEAKS_TOWNHOMES             | Residential Transitional Loan PEAKS_TOWNHOMES       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   2287814 | PA      | $2287814.00   | 4.55%             | 2026-11-01      | Fixed         | 8.89%                 | Yes           |                  3 | On Loan: No      |
| PEAKS_TOWNHOMES             | Residential Transitional Loan PEAKS_TOWNHOMES       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   2294834 | PA      | $2294834.00   | 4.57%             | 2026-11-01      | Fixed         | 8.89%                 | Yes           |                  3 | On Loan: No      |
| IRONHORSE_FUND              | Residential Transitional Loan IRONHORSE_FUND        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   1413867 | PA      | $1413867.00   | 2.81%             | 2026-08-01      | Fixed         | 8.18%                 | Yes           |                  3 | On Loan: No      |
| DEZ_DEVELOPMENT             | Residential Transitional Loan DEZ_DEVELOPMENT       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   1321791 | PA      | $1321791.00   | 2.63%             | 2026-08-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| TAFT_GARDENS_LLC            | Residential Transitional Loan TAFT_GARDENS_LLC      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    476559 | PA      | $476559.00    | 0.95%             | 2026-07-01      | Fixed         | 8.79%                 | Yes           |                  3 | On Loan: No      |
| FARMSTEAD_TH_LLC            | Residential Transitional Loan FARMSTEAD_TH_LLC      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   4555000 | PA      | $4555000.00   | 9.06%             | 2027-01-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| PRIMA_HOMES_INC             | Residential Transitional Loan PRIMA_HOMES_INC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    100000 | PA      | $100000.00    | 0.20%             | 2026-07-01      | Fixed         | 10.08%                | Yes           |                  3 | On Loan: No      |
| 1103_HOE_NY_LLC             | Residential Transitional Loan 1103_HOE_NY_LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   1885000 | PA      | $1885000.00   | 3.75%             | 2026-11-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| PPP_PROPERTIES              | Residential Transitional Loan PPP_PROPERTIES        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    191250 | PA      | $191250.00    | 0.38%             | 2026-09-01      | Fixed         | 8.62%                 | Yes           |                  3 | On Loan: No      |
| 445_GK_LLC                  | Residential Transitional Loan 445_GK_LLC            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   2005000 | PA      | $2005000.00   | 3.99%             | 2026-07-01      | Fixed         | 9.62%                 | Yes           |                  3 | On Loan: No      |
| PATINO_INVESTMENTS          | Residential Transitional Loan PATINO_INVESTMENTS    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    252000 | PA      | $252000.00    | 0.50%             | 2026-05-29      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| DMG_DESERT_ESTATES          | Residential Transitional Loan DMG_DESERT_ESTATES    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    285800 | PA      | $285800.00    | 0.57%             | 2026-03-10      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| HOMES_BY_BURGESS            | Residential Transitional Loan HOMES_BY_BURGESS      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    705000 | PA      | $705000.00    | 1.40%             | 2026-03-11      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| RESI_REALESTATE             | Residential Transitional Loan RESI_REALESTATE       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    589500 | PA      | $589500.00    | 1.17%             | 2026-09-15      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| TERO_BUILD_LLC              | Residential Transitional Loan TERO_BUILD_LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    720000 | PA      | $720000.00    | 1.43%             | 2026-09-09      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| CAL_VALLEY_INVEST           | Residential Transitional Loan CAL_VALLEY_INVEST     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    251100 | PA      | $251100.00    | 0.50%             | 2026-03-29      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 365_PNW_VENTURES            | Residential Transitional Loan 365_PNW_VENTURES      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    569700 | PA      | $569700.00    | 1.13%             | 2026-09-12      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| CAL_VALLEY_INVEST           | Residential Transitional Loan CAL_VALLEY_INVEST     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    436500 | PA      | $436500.00    | 0.87%             | 2026-04-07      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| REALTECH_CAPITAL            | Residential Transitional Loan REALTECH_CAPITAL      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    287100 | PA      | $287100.00    | 0.57%             | 2026-10-08      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| RIGHT_HAND_OFFERS           | Residential Transitional Loan RIGHT_HAND_OFFERS     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    255000 | PA      | $255000.00    | 0.51%             | 2026-11-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| PPP_PROPERTIES_LLC          | Residential Transitional Loan PPP_PROPERTIES_LLC    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    647505 | PA      | $647505.00    | 1.29%             | 2026-11-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| BOISE_VIEWS_LLC             | Residential Transitional Loan BOISE_VIEWS_LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   2422250 | PA      | $2422250.00   | 4.82%             | 2027-05-01      | Fixed         | 8.69%                 | Yes           |                  3 | On Loan: No      |
| VERONA_ASSETS               | Residential Transitional Loan VERONA_ASSETS         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    141300 | PA      | $141300.00    | 0.28%             | 2026-05-04      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 814_YORK_LLC                | Residential Transitional Loan 814_YORK_LLC          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    441000 | PA      | $441000.00    | 0.88%             | 2026-11-18      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| RESI_REALESTATE             | Residential Transitional Loan RESI_REALESTATE       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    450000 | PA      | $450000.00    | 0.90%             | 2026-11-14      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 521_BAYWAY_AVE_LLC          | Residential Transitional Loan 521_BAYWAY_AVE_LLC    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    520695 | PA      | $520695.00    | 1.04%             | 2026-12-01      | Fixed         | 8.25%                 | Yes           |                  3 | On Loan: No      |
| VAPA_INVESTMENTS_LLC        | Residential Transitional Loan VAPA_INVESTMENTS_LLC  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    103500 | PA      | $103500.00    | 0.21%             | 2026-12-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 5_STAR_DISC_HOMES           | Residential Transitional Loan 5_STAR_DISC_HOMES     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |   2921867 | PA      | $2921867.13   | 5.81%             | 2026-11-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| ANNAMALAYAR_LLC             | Residential Transitional Loan ANNAMALAYAR_LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    562262 | PA      | $562262.00    | 1.12%             | 2027-07-01      | Fixed         | 8.61%                 | Yes           |                  3 | On Loan: No      |
| MUZZY_CONSTRUCT_LLC         | Residential Transitional Loan MUZZY_CONSTRUCT_LLC   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    236247 | PA      | $236247.00    | 0.47%             | 2027-01-01      | Fixed         | 7.97%                 | Yes           |                  3 | On Loan: No      |
| EFMT                        | EFMT, Series 2025-RTL1, Class M2                    | CUSIP: 26846FAD1<br>LEI: 254900NFBGFOBK1G2B84 | Long             |  | CORP              | US        |   1250000 | PA      | $1250748.75   | 2.49%             | 2040-11-25      | Variable      | 8.33%                 | Yes           |                  2 | On Loan: No      |
| OLIT                        | OLIT, Series 2025-HB2, Class M4                     | CUSIP: 68278FAE8<br>LEI: N/A                  | Long             |  | CORP              | US        |   1500000 | PA      | $1245510.90   | 2.48%             | 2038-11-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust  | Verus Securitization Trust, Series 2025-6, Class B1 | CUSIP: 92540YAE9<br>LEI: N/A                  | Long             |  | CORP              | US        |   1250000 | PA      | $1268433.25   | 2.52%             | 2070-07-25      | Variable      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| Quarter Path                | Land Banking Loan-Quarter Path                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              |  | US        |    907230 | PA      | $907229.94    | 1.80%             | 2029-07-31      | Fixed         | 13.50%                | Yes           |                  3 | On Loan: No      |
| Royal Bank of Canada        | Royal Bank of Canada                                | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Short            | RA               | CORP              | US        |   -740000 | PA      | $-740000.00   | -1.47%            |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada        | Royal Bank of Canada                                | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Short            | RA               | CORP              | US        |   -450000 | PA      | $-450000.00   | -0.90%            |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada        | Royal Bank of Canada                                | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Short            | RA               | CORP              | US        |   -759000 | PA      | $-759000.00   | -1.51%            |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada        | Royal Bank of Canada                                | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Short            | RA               | CORP              | US        |   -657000 | PA      | $-657000.00   | -1.31%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** First Eagle Real Estate Debt Fund

**Signature:** Shuang Wu

**Name of Signer:** Shuang Wu

**Title:** Treasurer