Welcome to our annual report, where we take a look back at our investment focus and engagement activities in 2025. In this year’s report, we explore an array of topics. We continue to highlight the work we are doing with Momentus Securities. As set out in last year’s report, this partnership is an example of our effort to encourage and enable Community Development Financial Institutions (CDFIs) to utilize new and existing secondary market solutions to sustain and expand the capacity to serve their targeted communities. We also share a representative example of a loan acquired through Momentus during 2025. We discuss building a customized portfolio for Everpure, an industry-leading data storage and management platform company committed to helping organizations take control of their data securely and efficiently while minimizing environmental impact. We share examples of investments held in the portfolio, including a public transportation agency and public school district. Finally, we look at what lies ahead. The impact investing landscape is shifting, shaped by cautious investors and the environmental costs of AI expansion. However, AI’s data capabilities may also offer a path to better impact measurement and greater accountability. The BlueBay Fixed Income team of RBC GAM US continues to explore AI-related developments.