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Axonic Capital Overview History of Axonic Capital

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Axonic Capital Overview History of Axonic Capital TICKER | CUSIP AXSIX | 05465G101 AXONIC STRATEGIC INCOME FUND managed by Axonic Capital LCC Axonic Capital Overview BUSINESS OUR COMPETITIVE EDGE Axonic Capital (“Axonic”) is an independent financial Axonic Capital’s investment philosophy centers on services firm headquartered in New York City offering asset rigorous fundamental analysis. Investment decisions management services across structured credit, systematic aremadebasedontheprofileoffuturecashflows fixed income and commercial lending. Our business model is associated with asset-backed securities. The Firm’s providing opportunistic investment solutions from an belief is that the most informed, sophisticated and experienced team with expertise in creating unique knowledgeable investors have an advantage over other advantages through sourcing and asset allocation. market participants. The Firm seeks to constantly Founded in 20101, Axonic manages approximately $3.92 create or improve an edge over other market billion. participants through a comprehensive understanding of security structure and underlying collateral Axonic invests in structured credit instruments, including performance. commercial mortgage-backed securities and loans, non- agency residential mortgage-backed securities, agency Axonic’s investment professionals are experienced in credit risk transfers, private debt, mortgage and real estate- many facets of the market, including sourcing, related credit and equities, and various single-name and structuring and trading of structured credit securities. index credit default swaps. Axonic believes that integrating its extensive networks Axonic strives to protect and compound client capital into individual investment processes creates a through superior investment due diligence, robust use of significant investment edge. technology analytics and opportunistic themes. History of Axonic Capital Axonic has a decade of structured credit, fixed income and commercial real estate experience offered through a variety of investment vehicles. Axonic founded in 2010 Launched ABS with ~110m1 business Split Level Launched the LLC founded Launched CMBS Alternative Income March 2009; business Fund (AAIDX), a predecessor AXSIX surpasses closed-end interval to Axonic $900mm in fund Capital LLC AUM 2009–2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Axonic began Launched Special Launched Axonic operations in Firm reached Firm reached Strategic Income $2B in AUM Opportunities SBL January 2011 $1B in AUM Strategy Fund (AXSIX) Launched RMBS business 1. Axonic began trading in 2009 through Split Level LLC, Axonic’ s predecessor. The Firm officially began operations as Axonic Capital in January 2011. 2. Estimated as of March 31, 2021 3. As of December 31, 2010 AXONIC CAPITAL LLC | www.axonicfunds.com 1 AXONIC STRATEGIC INCOME FUND AXSIX Investment Process The primary objective of the Axonic Strategic Income Fund is to seek to maximize total return, through a combination of current income and capital appreciation. Idea Security Asset Portfolio Risk Asset Generation Analysis Allocation Construction Management Management and Sourcing Surveillance & Fundamental Compatible Trading & Repeatable Risk Budget Re- & Data Driven Cash Flow Hedging Themes Framework Underwriting Advantages of Investing in Structured Credit . The Axonic Strategic Income Fund (AXSIX) can allow individual investors to pursue an institutional- style investment in alternative assets that may help to build a diversified portfolio. We believe by investing in a range of non-correlated assets, an investor can generate higher potential income and total returns. Investing in structured credit can provide individual investors access to differentiated, cash-flow generating assets which may have risk-mitigation qualities to many underlying macro-economic factors. Axonic has an investment process which is centered around sound, fundamental credit underwriting. Axonic targets an interest-rate neutral portfolio by placing an emphasis on Libor-based, floating-rate securities. Market Opportunity . Axonic’s core principle is the fundamental analysis of cash flows of the underlying assets. We are particularly well suited to discover medium term duration and lower risk sources of return . Recent market volatility related to the COVID-19 virus has led to indiscriminate selling across credit markets. The selling has been driven by redemptions and margin calls for levered vehicles such as mortgage REITs and mutual funds. As a result of selling pressures, we believe residential mortgage assets, commercial mortgage assets and asset backed securities offer a compelling risk return profile as compared to other areas of the credit market. We believe the below market dislocations are offering compelling yield profiles given their current discount to par prices. AXONIC CAPITAL LLC | www.axonicfunds.com 2 AXONIC STRATEGIC INCOME FUND AXSIX Organizational Structure Clay DeGiacinto Managing Partner Chief Investment Officer Jamshed Engineer Matthew Weinstein Peter Carey Partner Partner Partner Co-Head of Credit Co-Head of Credit Head of Business Development Investment Teams Business Development / Investor Relations Operations Sterling Donnelly Chris Hughes Credit Investment Team Managing Director Chief Operations Officer Joel Maizel Brendan McCormick Jonathan Salter Managing Director Anthony Faltorusso Portfolio Manager Portfolio Manager Travis Printz Director of Portfolio Financing & Tyler Kimball Nick Pajwani Managing Director Treasury Director Portfolio Manager Melissa Parvis Eric Vaughn Michael Constas Simon Sominsky Managing Director Director Director Portfolio Manager Cameron Kirby Peter Weithers Ben Bernstein Eric Kaufman Managing Director Associate Director Director Robert Duggan Thomas Tubridy Jack O’Brien Frank Garcia Managing Director Analyst Associate Director Christopher Greenwell Camille Corum Stéphane Durand Gary Yu Managing Director Executive Assistant Associate Director Dalton Hernandez Pravesh Subramanian Erik Nygaard2 Director Director of Software Engineering Associate General Annamarie Gonzalez Anand Kochar Counsel Associate Senior Software Developer Systematic Investment Team Hannah Holliday Aqeel Ahmad Assistant IT Support Specialist Arnaud De Bevy Deniz Cicek Lauren Pizzi Principal Portfolio Manager Office Manager Siré Sidibé Office Administration Finance Risk Legal / Compliance John Kelly Lu Chang Joseph Grogan Chief Financial Officer Chief Risk Officer Chief Compliance Officer Jess Saypoff Anna Zhang, CPA Michelle Cheng General Counsel Controller Risk Manager Erik Nygaard2 Amanda Favorite, CPA Associate General Counsel Controller Konrad Szymala, CPA Controller Human Resources Paul Cheung Director of Tax Meredith Infurchia Director of Human Capital Caroline Ng Assistant Controller Robert DeMasi Associate 1.As of March 31, 2021. 2.Erik Nygaard has a dual role working with the CRE investment team and General Counsel AXONIC CAPITAL LLC | www.axonicfunds.com AXONIC STRATEGIC INCOME FUND AXSIX Management Team Clayton DeGiacinto Managing Partner, Chief Investment Officer Prior to forming Axonic in 2010, Mr. DeGiacinto was responsible for building out the mortgage investment platform at Tower Research Capital LLC and was the Senior Portfolio Manager for Split Level LLC, the predecessor fund to the Axonic Credit Opportunities Funds. He previously led a mortgage trading desk in the Fixed Income, Currency and Commodities division at Goldman Sachs & Co. Mr. DeGiacinto’s duties included the securitization and retention of bonds backed by adjustable- rate and negatively amortizing residential mortgages. He was also responsible for running the RMBS credit book for all prime, alt-A and negatively amortizing structures. Mr. DeGiacinto previously served as a Captain in the U.S. Army in the 25th Infantry Division (Hawaii) after completing the U.S. Army Ranger School, Airborne School and Air Assault Course. He is a graduate of the United States Military Academy at West Point and holds an M.B.A. from the Wharton School at the University of Pennsylvania. Jamshed Engineer Partner, Co-Head of Credit Mr. Engineer has been with Axonic since inception and leads our residential and asset backed securities strategies. Prior to joining Axonic, Mr. Engineer worked at Tower Research Capital as Vice President of Mortgage Trading. Prior to Tower, he worked in the Fixed Income, Currency and Commodities group at Goldman Sachs & Co. with responsibilities including structuring, valuing and advising on diverse securitization products for both principal and third party transactions. Prior to Goldman, Mr. Engineer was at KPMG where he structured various securitization transactions in the structured products group. Mr. Engineer was previously employed at Tata TD Waterhouse and Tata Finance in Mumbai. Mr. Engineer received his Bachelor of Commerce in Finance and Accounting from University of Mumbai and holds an M.B.A. in Finance from the University of Southern California. Matthew Weinstein Partner, Co-Head of Credit Mr. Weinstein joined Axonic in 2012 and oversees the Firm’s CRE and CMBS investment teams. Mr. Weinstein is also the head of the CRE investment committee. Prior to joining the Firm, Mr. Weinstein was a Vice President at Macquarie Capital where he managed a Commercial Mortgage Backed Securities (CMBS) principal investment strategy from 2010 through 2012. From 2003 to 2008, he was an Associate Director in the CMBS group at Bear Stearns & Co. Mr. Weinstein received his MBA in Finance at the New York University Stern School of Business and graduated
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