Covenant	Limit	Actual	Status
Max Single Obligor	15.0%	8.2%	PASS
Max Sector Concentration	25.0%	18.4%	PASS
Min Credit Rating	BBB−	A−	PASS
Max Weighted Tenor	90d	52d	PASS
Min Liquidity Ratio	1.10x	1.42x	PASS

Obligor	Rating	Exposure	% NAV
TJX	A−	$4,089,200	8.2%
TJX HG	AA	$3,542,100	7.1%
ROST	AA−	$3,198,450	6.4%
OLLI	A	$2,876,340	5.8%
FIVE	AA−	$2,654,890	5.3%

Funding Batches

Select a batch to view invoices and generate reports

Batch ID	Funding Date	Invoices	Total Funded	Status

BATCH-2024-12-19

	INVOICE	OBLIGOR	ORIGIN	NOTIONAL	RISK	YIELD	HASH

Selected Report

BATCH SUMMARY CHANGE ↓

Select Report

Batch Summary

Aggregates, concentration, yield distribution

LP UPDATES

Capital Account

NAV reconciliation, distributions, ILPA metrics

LP REPORTING

Performance Attribution

Return by obligor, tenor, rating, vintage

INVESTMENT COMMITTEE

Risk Analytics

Concentration, rating distribution, tenor

RISK COMMITTEE

Position Detail

Line-by-line invoice data, all fields

PORTFOLIO MGMT

Verification Audit

13 checkpoints, timestamps, engines

COMPLIANCE

Settlement Memo

Funding amounts, counterparties, codes

TREASURY OPS

Exception Report

Alerts, past due, covenant triggers

DAILY OPS

Select Scope

This Batch

BATCH-2024-12-19

Date Range

Custom period

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Full portfolio

From Date

To Date

MINT VAULT|TAPE

TERMINAL: MT-482-TX 12/25/2025, 2:15:41 PM ET

MASTER DATA

Obligor

TARGET CORP

A- / STABLE

Supplier

SUP-4421

ANONYMIZED

PO Reference

PO-88421

GR Reference

GR-443222

ERP System

Oracle ERP Cloud

v2023.4.2

Terms

NET 45

Issue Date

2025-12-15

Due Date

2026-01-29

RETAILER DOMAIN (ERP VALIDATION) 5/5

INVOICE EXISTS IN ERPSAP_ODATAFABRICATION

Invoice confirmed active in SAP S/4HANA ledger via direct API query

PASSED2025-12-18 14:32:01.453VALIDATION_ENGINE

Doc ID

SAP-INV-998876

Ledger Group

AP_TRADE

Status

POSTED

Cleared

OPEN

PO MATCH CONFIRMED3_WAYUNAUTHORIZED

3-way match confirmed: Invoice to Purchase Order to Goods Receipt

PASSED2025-12-18 14:32:01.892VALIDATION_ENGINE

PO Number

PO-88421

PO Status

APPROVED

Line Items

Tolerance

0.00%

GOODS RECEIPT CONFIRMEDWMS_PULLPHANTOM

Full delivery confirmed at distribution center

PASSED2025-12-18 14:32:01.301VALIDATION_ENGINE

GRN

GR-443222

Delivery Date

2025-12-14

Signed By

DC_OPER_4001

Status

ACCEPTED

AMOUNT VALIDATIONEXACT_MATCHOVERINFLATION

Invoice amount within PO tolerance (0.5%)

PASSED2025-12-18 14:32:01.256VALIDATION_ENGINE

Invoice Amt

$57,470.98

PO Amt

$57,470.95

Variance

WITHIN TOLERANCE

Tolerance

0.00%

RETAILER SELECTIONEXPLICIT_INTENTUNAUTHORIZED

Retailer explicitly selected invoice for early pay program

PASSED2025-12-18 14:32:01.530VALIDATION_ENGINE

Selected By

AP_SYSTEM_USER

Selection Time

14:32:06.126 UTC

Program ID

EARLYPAY_2025_01

Auth

SSO + MFA

MINT PLATFORM (GRAPH & DEDUP) 3/3

DUPLICATE DETECTIONHASH_CHKDOUBLE_FINANCE

SHA-256 hash unique across all funded invoices

PASSED2025-12-18 14:32:02.776VALIDATION_ENGINE

Hash Algo

SHA-256

Match Count

Database Scanned

287,192 invoices

Scan Time

32ms

RELATIONSHIP ANALYSISGRAPH_QRYPATTERN_MATCH

Relationship edge analyzed: 5yr history, 0.3% dispute rate

PASSED2025-12-18 14:32:01.852PAYOR_GRAPH

Edge ID

TGT-SUP4421

History

5.2 years

Transactions

847

Dispute Rate

0.31%

THIRD PARTY ENRICHMENTD&B_APICORROBORATE

D&B corroboration: supplier active, obligor financials confirmed

PASSED2025-12-18 14:32:02.445PAYOR_GRAPH

D&B DUNS

08-146-7829

PAYDEX

Status

ACTIVE

Match

HIGH CONFIDENCE

SUPPLIER DOMAIN (COUNTERPARTY) 3/3

IDENTITY VERIFICATIONOFAC_SCRSANCTION

OFAC/SDN clearance confirmed, no sanctions match

PASSED2025-12-18 14:32:02.123VALIDATION_ENGINE

OFAC

CLEAR

SDN

NO MATCH

PEP

NO MATCH

Adverse Media

NONE

BANK ACCOUNT VALIDATIONPLAID_VRFMISDIRECTION

Bank account ownership verified via Plaid instant auth

PASSED2025-12-18 14:32:02.667VALIDATION_ENGINE

Method

PLAID_INSTANT

Ownership

VERIFIED

Account Status

ACTIVE

Last Verified

2025-12-18

ENTITY STANDINGSOS_CHKSHELL_CO

Secretary of State: entity active, good standing confirmed

PASSED2025-12-18 14:32:02.234VALIDATION_ENGINE

State

DELAWARE

Entity #

4827193

Status

GOOD STANDING

Formed

2018-03-14

DECISION DOMAIN (UNDERWRITING) 1/2

UNDERWRITING VERDICTML_MODEL

Machine Underwriter approved: all criteria met

PASSED2025-12-18 14:32:03.678MACHINE_UNDERWRITER

Model

MU_v3.2.1

Score

0.9847

Decision

APPROVED

Latency

234ms

OUTCOME TRACKINGPOST_FUND

Awaiting maturity for outcome capture

PENDINGExpected: 2026-01-29MACHINE_UNDERWRITER

Status

AWAITING MATURITY

Expected

2026-01-29

Outcome

TBD

Days Left

Live Reconciliation Check

Real-time

CHECKPOINT	INITIAL PULL (T-4H)	RECONCILIATION (NOW)	DELTA
02PO MATCH	MATCHED	MATCHED	MATCH
03GOODS RECEIPT	FULL	FULL	MATCH
04AMOUNT	$56,706.63	$56,706.63	-
06DUPLICATE	UNIQUE	UNIQUE	MATCH

Immutable Audit Timeline

SEC Rule 17a-4 Compliant (WORM)

2025-12-18 09:00:00.001

ERP_CONNECTOR_SAPINVOICE_PULLED

2025-12-18 09:00:01.453

VALIDATION_ENGINECHECKPOINT_01_PASS

2025-12-18 14:32:00.001

RETAILER_PORTALINVOICE_SELECTED

2025-12-18 14:32:01.000

VALIDATION_ENGINERECONCILIATION_START

2025-12-18 14:32:03.678

MACHINE_UNDERWRITERVERDICT_APPROVED

2025-12-18 14:32:04.000

BATCH_PROCESSORADDED_TO_BATCH

Beginning NAV	$48,250,000
Contributions	$2,500,000
Distributions	($1,875,000)
Net Operating Income	$1,247,890
Management Fee (1.25%)	($156,250)
Incentive Allocation	($89,340)
Ending NAV	$49,877,300