CLIFFWATER CORPORATE LENDING FUND CLASS I SHARES

Alpha 1 Year 6.37 Alpha 3 Years 6.94 Average Gain 1 Year 1.00 Average Gain 3 Years 0.84 Average Loss 3 Years -0.14 Batting Average 1 Year 50.00 Batting Average 3 Years 63.89 Beta 1 Year 0.04 Beta 3 Years 0.04 Capture Ratio Down 1 Year -78.66 Capture Ratio Down 3 Years -34.20 Capture Ratio Up 1 Year 47.58 Capture Ratio Up 3 Years 53.60 Correlation 1 Year 43.22 Correlation 3 Years 29.98 High 1 Year 10.84 Information Ratio 1 Year -0.12 Information Ratio 3 Years 0.97 Low 1 Year 10.41 Maximum Loss 3 Years -0.19 Performance Current Year 0.66 Performance since Inception 49.39 R-Squared (R²) 1 Year 18.68 R-Squared (R²) 3 Years 8.99 Sortino Ratio 3 Years 26.30 Tracking Error 1 Year 6.99 Tracking Error 3 Years 8.02 Trailing Performance 1 Month 0.92 Trailing Performance 1 Week 0.19 Trailing Performance 1 Year 12.54 Trailing Performance 2 Years 20.47 Trailing Performance 3 Months 3.31 Trailing Performance 3 Years 32.32 Trailing Performance 4 Years 44.41 Trailing Performance 6 Months 6.72 Trailing Return 1 Month 1.09 Trailing Return 1 Year 12.66 Trailing Return 2 Months 2.24 Trailing Return 2 Years 9.55 Trailing Return 3 Months 3.17 Trailing Return 3 Years 9.83 Trailing Return 4 Years 9.55 Trailing Return 6 Months 6.68 Trailing Return 9 Months 10.12 Trailing Return Since Inception 9.02 Trailing Return YTD - Year to Date 12.66 Treynor Ratio 1 Year 169.88 Treynor Ratio 3 Years 169.29