New Mountain Guardian IV Unlevered BDC, L.L.C.

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	15.01 mm	15.01 mm	15.01 mm	15.01 mm	15.01 mm	15.01 mm
Cash burn (monthly)	(no burn)	(no burn)	682.67 k	647.42 k	(no burn)	838.92 k
Cash used (since last report)	n/a	n/a	1.50 mm	1.42 mm	n/a	1.84 mm
Cash remaining	n/a	n/a	13.52 mm	13.59 mm	n/a	13.17 mm
Runway (months of cash)	n/a	n/a	19.8	21.0	n/a	15.7

Financial data from company earnings reports.

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
1 Dec 25	Suva	Units of Limited Liability Company Interests $10.00 per Unit	Buy	Acquire P	Yes	No	10	32,500	325.00 k	650,000
1 Dec 25	Suva	Units of Limited Liability Company Interests $10.00 per Unit	Buy	Acquire P	No	No	10	350,000	3.50 mm	7,000,000
1 Dec 25	New Mountain Guardian IV Rated Feeder III	Units of Limited Liability Company Interests $10.00 per Unit	Buy	Acquire P	No	No	10	1,500,000	15.00 mm	30,000,000
1 Dec 25	Caisse de retraite d'Hydro-Quebec	Units of Limited Liability Company Interests $10.00 per Unit	Buy	Acquire P	No	No	10	500,000	5.00 mm	10,000,000
4 Nov 25	Suva	Units of Limited Liability Company Interests $10.00 per Unit	Buy	Acquire P	Yes	No	10	78,000	780.00 k	617,500
4 Nov 25	Suva	Units of Limited Liability Company Interests $10.00 per Unit	Buy	Acquire P	No	No	10	840,000	8.40 mm	6,650,000
4 Nov 25	New Mountain Guardian IV Income Rated Feeder II	Units of Limited Liability Company Interests $10.00 per Unit	Buy	Acquire P	No	No	10	3,600,000	36.00 mm	28,500,000

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.