On June 3, 2024, Lamington Road DAC (the “Company”) notified U.S. Bank Trust Company, as Trustee (the “Trustee”) under the Indenture with respect to the Company’s outstanding Series A Notes, Series B Notes and PPNs, that it will cash pay $1,393,636 of the Series A Note interest payable for the 6-month period ending June 30, 2024 and PIK pay $2,054,235.00.

With respect to the Series B Note interest, the Company notified the Trustee that it will pay PIK Interest (in lieu of cash payment) on 100 percent of the Series B Notes outstanding for the 6-month period ending June 30, 2024.  The Company anticipates the PIK interest portion of the Series B Note payment will equal $2,953,138.
 
After the June 30, 2024 interest payment date, the outstanding principal amount of the Series A Notes and Series B Notes is anticipated to be $59,987,857and $76,781,592, respectively.

Minimum Cash Balance
As of June 15, 2024, the cash balance of the Company was $4,652,405.  As approved by the Board, the Company’s Minimum Cash Balance was $3,000,000.
  
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