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HYBRID 11/19/2026 USD SR LIEN 13494 13549 U.S. TREASURY NOTE 2.000000% 02/15/2025 34301 34900 U.S. TREASURY NOTE 0.500000% 03/31/2025 190468 193257 U.S. TREASURY NOTE 0.250000% 07/31/2025 10687 10750 U.S. TREASURY NOTE 5.000000% 08/31/2025 10048 10048 U.S. TREASURY NOTE 3.500000% 09/15/2025 297599 298404 U.S. TREASURY NOTE 5.000000% 09/30/2025 13118 13068 U.S. TREASURY NOTE 5.000000% 10/31/2025 10081 10058 U.S. TREASURY NOTE 4.250000% 12/31/2025 120788 121029 ACCRUED INTEREST 0 14461 PARTNERSHIPS AT COST 15007145 25107092 INVESTMENT RELATED COUNSEL 33980 33980 0 CUMULATIVE BOOK-TO-TAX DIFFERENCES 42150757 28802213 K-1 EXPENSES 243478 223529 0 INSURANCE 201 0 201 K-1 INCOME 480477 289001 480477 FEDERAL TAX REFUND 36000 36000 STATE SOURCED TAX WITHHOLDING 7239 UNREALIZED GAIN ON CONTRIBUTED SHARES 88328 INVESTMENT MANAGEMENT FEES 1018655 1018655 0 A QUALIFIED VALUATION CONSULTANT PERFORMED A BLOCKAGE DISCOUNT STUDY REGARDING THE BELOW STOCKS AND DETERMINED THAT THE SHARES WOULD HAVE TO BE LIQUIDATED OVER AN EXTENDED PERIOD OF TIME IN ORDER TO REALIZE THEIR FAIR MARKET VALUE (FMV) AND AVOID ADVERSELY IMPACTING THE MARKET FOR THESE SHARES. BLOCK 1 - ROLLINS, INC. : AS OF 12/31/24, THE FOUNDATION HELD 7,954,716 SHARES. THE STUDY CONCLUDED THAT IT WOULD TAKE 6.86 YEARS TO LIQUIDATE THE SHARES WITHOUT ADVERSELY AFFECTING THE VALUE. APPLYING AN APPROPRIATE PRESENT VALUE TO THE REALIZED PROCEEDS YIELDED A DISCOUNT OF 10%. AVERAGE MONTHLY FMV DURING 2024: $386,359,189; DISCOUNT: $38,635,919.BLOCK 2 - RPC, INC.: AS OF 12/31/24, THE FOUNDATION HELD 6,593 SHARES. THE STUDY CONCLUDED THAT IT WOULD TAKE 0.09 YEARS TO LIQUIDATE THE SHARES WITHOUT ADVERSELY AFFECTING THE VALUE. APPLYING AN APPROPRIATE PRESENT VALUE TO THE REALIZED PROCEEDS YIELDED A DISCOUNT OF 0.4%. AVERAGE FMV DURING 2024: $44,327; DISCOUNT: $177. FEDERAL EXCISE TAX 40000 0 0 UBTI TAX 15000 0 0 STATE UBTI TAX 11361 11361 0 FOREIGN TAX 2764 2764 0 PAYROLL TAXES 13388 0 13388