November 2022 HPS Corporate Lending Fund (“HLEND”) 2022 Q3 Investor Update Call 1

Important Disclosure Information This material is for information purposes only, is confidential and may not be reproduced or distributed except as otherwise provided herein. All information provided herein is as of the date set forth on the cover page (unless otherwise specified) and is subject to modification, change or supplement in the sole discretion of HPS Investment Partners, LLC (“HPS” or the “Adviser”) without notice to you. This information is neither complete nor exact and is provided solely as reference material with respect to HPS Corporate Lending Fund (“HLEND”) which is a non-exchange traded business development company (“BDC”). This material does not constitute a prospectus and must be read in conjunction with the HLEND prospectus in order to fully understand all the implications and risks of an investment in HLEND. This information should not be construed as legal, regulatory or tax advice. Investors should consult with their own advisors when considering an investment in any investment strategy. PASTPERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. This material contains information about HPS managed funds and general information about the market. You should not view information related to the past performance of HPS managed funds or information about the market, as indicative of future results, the achievement of which cannot be assured. Certain information contained in this material constitutes “forward looking statements,” which can be identified by the use of forward looking terminology such as “may,” “will,” “expect,” “ intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words, or the negatives thereof. These may include our financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, and statementsregarding future performance. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. HLEND believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its prospectus and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”) which will be accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in HLEND’s prospectus and other filings. Except as otherwise required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. The contents of this material: (i) do not constitute an offer of securities or a solicitation of an offer to buy securities, (ii) offers can be made only by the respective offering documents which are available upon request, (iii) do not and cannot replace the offering documents and is qualified in its entirety by the offering documents, and (iv) may not be relied upon in making an investment decision related to any investment offering by the issuer of the securities, or any affiliate, or partner thereof ( Issuer ). All potential investors must read the offering documents and no person may invest without acknowledging receipt and complete review of the offering documents. With respect to any “targeted” goals outlined herein, these do not constitute a promise of performance, nor is there any assurance that the investment objectives of any program will be attained. All investments carry the risk of loss of some or all of the principal invested. These “targeted” factors are based upon reasonable assumptions more fully outlined in the offering documents for the respective investment opportunity. Consult the offering documents for investment conditions, risk factors, minimum requirements, fees and expenses and other pertinent information with respect to any investment. Past performance is no guarantee of future results. All information is subject to change. Thehypotheticalanalysisin this materialis intendedonlyfor illustrative purposes only and is based on certain assumptions. This analysis is not a promise, prediction or projection of future performance, but merely the result of applying formulas or mathematical methodologies to one or more sets of assumptions and variables. This material requires a great deal of subjective judgment and analysis, and there is no assurance that alternative modeling techniques would not be more appropriate or would not produce significantly different results. In addition, there can be no assurance that the methodology is free of errors that could result in material variations between the hypothetical results and the actual results. The methodology relies upon certain assumptions some of which are described above, but other unstated assumptions were also used. A relatively minor modification to an assumption may have a significant impact on the analytical results. In addition, events and conditions that are not assumed. 2

Quarterly Highlights For the Quarter Ended September 30, 2022 2 § 1.35%Q3totalnetreturn (unannualized), bringing ITD total net return to 1.49% (unannualized) § Net asset value per share of $24.21, down 0.5% from June 30, 2022 driven by unrealized mark-to- market movements 1 Financial Highlights § Q3distributionspershareof~$0.44 ($0.1464/month), representing anannualizeddistribution 3 yieldof~7.2% § Q3netinvestmentincomepershareof$0.56, a 22% quarter-over-quarter increase 4 § Weightedaverageyieldatcostof9.2%,up from 7.4% inQ2 § $4.6B total investment portfolio at fair value, with an incremental $963M of forward investment Investment Activity commitments & Portfolio Highlights 5 § 98.8%seniorsecured (of which 97.8% is first lien) and98.7%floatingrate § $1.7Bofnewinvestments purchased and <$0.1B investments sold or repaid in Q3 § Low relative leverage andassociated“drypowder”capacityhasenabledHLENDtodeploycapital intohighlyattractiveopportunityset offered by current market environment Other Key Highlights § Declaredspecialdistributionof$0.10pershare with record date of October 31, 2022 / Developments § Extendedmanagementandincentivefeewaiver through December 31, 2022 1 2 PASTPERFORMANCEISNOTNECESSARILYINDICATIVEOFFUTURERESULTS. All per share and non-fund level metrics above are based on Class I information. Total net return is calculated as the change in NAV per share during the period plus distributions per share (assuming any distributions, net of shareholder servicing fees, are reinvested in accordance with the Company’s distribution reinvestment plan) divided by the beginning NAV per share, which is calculated after the deduction of ongoing expenses that are borne by investors, such as management fees, incentive fees, servicing fees, interest expense, offering costs, professional fees, director fees and other general and administrative expenses. Inception to date figures for Class F, Class D and Class I shares use the initial offering price of $25.00 per share as the beginning NAV. Returns are prior to the impact of any potential upfront placement fees. An investment in the Company is subject to a maximum upfront placement of 3.5% for Class S and 2.0% for Class D, Class F and Class I, which would reduce the amount of capital available 3 for investment, if applicable. Inception date of Class D, Class F, and Class I is February 3, 2022. Class S has not commenced operations as of November 18, 2022. Annualized distribution yield is calculated as the monthly 4 dividend per share multiplied by 12 and divided by beginning NAV for the applicable months. Represents an average for the three months in the quarter. Computed as (a) the annual stated interest rate or yield plus the annual accretion of discounts or less the annual amortization of premiums, as applicable, on accruing debt included in such securities, divided by (b) total debt investments at amortized cost included in such securities. 5 Actual yields earned over the life of each investment could differ materially from the yields presented above. Based on fair value of the investment portfolio. 3

Capital Deployment & Portfolio Composition / Yield Quarter Ended September 30, 2022 Investment Activity ($M) End of Period Investments at Fair Value ($M) 1 Wtg. Avg. Yield at Cost 9.5% 10.0% 1 Wtd. Avg. Yield at FV 9.0% 9.2% 7.6% 8.0% 6.8% $4,594 7.0% 7.4% $1,879 6.7% 6.0% $1,706 5.0% 4.0% $1,338 $3,026 3.0% 2.0% 98% 1.0% 0.0% 96% $1,271 1% 99% 1% 1% <1% <1% 3% <1% ‐64‐69 <1% 1% ‐58 Q1 2022 Q2 2022 Q3 2022 Q1 2022 Q2 2022 Q3 2022 1L 2L Unsecured Debt Equity & Other New Investments Purchased Investments Sold or Repaid ($M) 1 PASTPERFORMANCEISNOTNECESSARILYINDICATIVEOFFUTURERESULTS. Figures may not sum due to rounding. Computed as (a) the annual stated interest rate or yield plus the annual accretion of discounts or less the annual amortization of premiums, as applicable, on accruing debt included in such securities, divided by (b) total debt investments (at fair value or amortized cost, as applicable) included in such securities. Actual yields earned over the life of each investment could differ materially from the yields presented above. Please refer to HLEND’s prospectus and filings, including Form 10-Q for fair value disclosures. 4

Portfolio Overview –Asset Mix and Credit Quality As of September 30, 2022 99% 98% 99% 0% 1 Floating Rate Non‐Accrual Senior Secured First Lien By Seniority By Investment Type First Lien 97.8% 3 Second Lien Private 1.0% 81.0% 3 Unsecured $4.6B Liquid 0.6% 19.0% 2 Equities & Other 0.6% $165M 42% 4 4 Wtd. Avg. EBITDA Wtd. Avg. Loan to Value 1 All statistics based on the aggregate fair value of the investment portfolio as of September 30, 2022 unless otherwise noted. Totals may not sum due to rounding. Percentage based on aggregate fair value of debt 2 3 investments. Other includes structured finance investments Private Investments represents level 3 investments in the investment portfolio where inputs to the valuation methodology are unobservable and significant to overall fair value measurement. Liquid investments represents level 2 investments where inputs to the valuation methodology other than quoted prices in active markets, which are either directly or indirectly observable as 4 of the reporting date. Calculated with respect to all private investments, including investments for which fair value is determined by HPS (in its capacity as the investment manager of HLEND) (with assistance, at least quarterly, from a third-party valuation firm, and overseen by HLEND’s Board of Trustees) and, in the case of weighted average EBITDA only, excludes investments where net debt to EBITDA may not be the appropriate measure of credit risk. Figures are derived from the most recent financial statements from portfolio companies. Loan to value is calculated as net debt through investment layer divided by enterprise value or value of underlying collateral of the portfolio company. 5

Portfolio Overview –Diversification As of September 30, 2022 By Industry (Top 10) Largest Positions (Top 10) % of Total Portfolio Portfolio Company at Fair Value Software & Computer Services 16% The NPD Group L.P. 3.2% Health Care Providers 14% SimpliSafe Holding Corporation 2.6% Industrial Support Services 13% Media Spotless Brands, LLC 2.6% 9% Armstrong Bidco Limited 2.5% Consumer Services 9% Tivity Health Inc 2.4% Non-life Insurance 7% Canoe Bidco Pty Limited 2.3% Medical Equip. & Services 4% PPV Intermediate Holdings, LLC / VetCor 2.0% General Industrials 3% Group Holdings LLC Specialty Ingredients, LLC 2.0% Travel & Leisure 3% 1.9% Captive Resources Midco LLC Automobiles & Parts 3% 1.8% Plasma Buyer LLC 34 184 1 Portfolio Companies Industries 1 All statistics based on the aggregate fair value of the investment portfolio as of September 30, 2022 unless otherwise noted. Totals may not sum due to rounding. Based on FTSE / DJ Industry Classification Benchmark (“ICB”) industry definition. 6

1 Net Asset Value Bridge ($ Per Share) For the Quarter Ended September 30, 2022 $0.56 $24.32 $24.21 $(0.44) $(0.23) Q3’22 Net Q3’22 Net Realized and September 30, June 30, 2022 NAV 3 Distributions Investment Unrealized Gains 2022 NAV 2 4 Income (Losses) 1 2 PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All per share metrics above are based on Class I information. The per share data was derived by using the weighted average shares 3 4 outstanding during the period. The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions. The amount shown does not correspond with the aggregate amount for the period as it includes the effect of the timing of capital transactions 7

Selected YTD Financial Highlights and Performance Metrics ($ in millions, except share and per share data) Q1 2022 Q2 2022 Q3 2022 1 Per Share Data Beginning net asset value $ 25.00 $ 25.09 $ 24.32 Net investment income 0.44 0.46 0.56 Net unrealized and realized gain (loss) (0.07) (0.79) (0.23) Dividends declared - regular (0.28) (0.44) (0.44) Dividends declared - special -- - Ending net asset value 25.09 24.32 24.21 Balance Sheet Investments at fair value 1,271.0 3,026.3 4,594.2 Total debt outstanding 235.6 788.4 1,439.6 Net assets 913.6 2,146.8 3,162.0 Ending debt-to-equity 0.26x 0.37x 0.46x 2 Dividend Coverage Dividend coverage 155% 105% 125% Annualized dividend yield 7.0% 7.0% 7.2% 3 Portfolio Yield Weighted average yield on debt and income producing investments at cost 6.7% 7.4% 9.2% Weighted average yield on debt and income producing investments at fair value 6.8% 7.6% 9.5% 4 Performance Metrics Quarterly total net return 1.49% (1.33)% 1.35% Year-to-date total net return 1.49% 0.14% 1.49% 1 2 PASTPERFORMANCEISNOTNECESSARILYINDICATIVEOFFUTURERESULTS. All per share and non-fund-level metrics above are based on class I information. Dividend coverage is calculated as total NII per share divided by total quarterly dividends declared per share. Annualized distribution yield is calculated as the quarterly dividend per share multiplied by 4 and divided by average of beginning NAV for the 3 months in the 3 applicable quarter. Computed as (a) the annual stated interest rate or yield plus the annual accretion of discounts or less the annual amortization of premiums, as applicable, on accruing debt included in such securities, 4 divided by (b) total debt investments (at fair value or amortized cost, as applicable) included in such securities. Actual yields earned over the life of each investment could differ materially from the yields presented above. Total net return is calculated as the change in NAV per share during the period plus distributions per share (assuming any distributions, net of shareholder servicing fees, are reinvested in accordance with the Company’s distribution reinvestment plan) divided by the beginning NAV per share, which is calculated after the deduction of ongoing expenses that are borne by investors, such as management fees, incentive fees, servicing fees, interest expense, offering costs, professional fees, director fees and other general and administrative expenses. Inception to date figures for Class F, Class D and Class I shares use the initial offering price of $25.00 per share as the beginning NAV. Returns are prior to the impact of any potential upfront placement fees. An investment in the Company is subject to a maximum upfront placement of 3.5% for Class S and 2.0% for Class D, Class F and Class I, which would reduce the amount of capital available for investment, if applicable. Inception date of Class D, Class F, and Class I is February 3, 2022. Class S has not commenced operations as of November 18, 2022. 8

Current Market Environment 9

The Attractive Current Private Credit Opportunity is Driven by Market Volatility … The current market dislocation has provided a rare window of opportunity, previously observed only 5 times over the last ~23 years Morningstar/LSTA US B‐Rated Loan Index –Average Bid Price 105.0 Macro Slowdown Tech Bubble Recovery: TBD Recovery: ~32 months Energy Dislocation Recovery: ~8 months par 100.0 95.0 95.0 90.0 89.5 89.2 87.4 85.0 COVID‐19 Crisis Global Financial Crisis European Debt Crisis Recovery: ~5 months. Recovery: ~38 months. Recovery: ~6 months. 54.8 76.9 80.0 Data as of September 30, 2022. Source: Pitchbook LCD. Time to recovery reflects period in which the index traded below 95. 10

… Compounded by a Scarcity of Capital Pullback from traditional capital providers during periods of volatility drives increased demand for capital solutions provided by private credit providers High Yield Bonds Issuance ($B) Leveraged Loans Issuance ($B) $835.1 $483.0 $703.7 $449.9 $655.5 YTD 2022 $409.7 down 69% YTD 2022 relative to down 78% YTD 2021 relative to YTD 2021 $286.6 $421.6 $391.6 $187.4 $205.0 $90.0 2018 2019 2020 2021 YTD 2021 YTD 2022 2018 2019 2020 2021 YTD 2021 YTD 2022 As of October 3, 2022. Source: JP Morgan High Yield Bond and Leveraged Loan Market Monitor, October 3, 2022. Commentary represents HPS’s subjective opinions and views as of the date hereof and is subject to change depending on market environment. 11

Private Credit Is Increasingly a Viable Solution for Large Borrowers Private credit AUM has been increasing at a steady rate, as private capital solutions become increasingly viable for large borrowers. We expect private credit to represent a larger percentage of the overall credit market in the coming years as the prevalence of larger transactions being executed in private markets continues to grow. Private Market Transactions 1 2 Private Credit AUM by Deal Size (Transaction Value) $USD Billions 100% $1,400 9% 15% 90% $1,254 Unrealized Value 25% 26% $1,200 17% 80% Dry Powder $1,000 70% 31% 61% 21% 60% $800 42% 48% 50% 20% $600 40% 30% $400 53% 20% 39% 17% 27% 34% $200 10% $42 10% 5% $0 0% 2018 2019 2020 2021 2022 >$2bn $1bn - $1.9bn $250m - $999m $0m - $249m 1 2 Source: Preqin and Pitchbook LCD. As of July 31, 2022. Source: Preqin as of July 31, 2022. Source: Direct Lending Deals as of September 15, 2022. Represents all reported private credit transactions for which there was either an observable Total Deal Size or an observable First Lien quantum available. Represents HPS’s subjective opinions and views as of the date hereof and is subject to change depending on market environment. 12 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Important Disclosure Information 13

Important Disclosure Information SummaryofRiskFactors HPS Corporate Lending Fund (“HLEND”) is a non-exchange traded business development company (“BDC”) that invests at least 80% of its total assets (net assets plus borrowings for investment purposes) in private credit investments (bonds and other credit instruments that are issued in private offerings or issuedbyprivate companies). This investment involves a high degree of risk. You should purchase these securities only if you can afford the complete loss of your investment. You should read the prospectus carefully for a description of the risks associated with an investment in HLEND. These risks include, but are not limited to,the following: • We have limited operating history and there is no assurance that we will achieve our investment objectives. • This is a “blind pool” offering and thus you will not have the opportunity to evaluate our investments before we make them. • You should not expect to be able to sell your shares regardless of how we perform. • You should consider that you may not have access to the money you invest for an extended period of time. • We do not intend to list our shares on any securities exchange, and we do not expect a secondary market in our shares to develop prior to any listing. • Becauseyoumaybeunabletosell yourshares, youwill beunable to reduce your exposure in any market downturn. • We intend to implement a share repurchase program, but only a limited number of shares will be eligible for repurchase and repurchases will be subject to available liquidity and other significant restrictions. • An investment in our Common Shares is not suitable for you if you need access to the money you invest. See “Suitability Standards” and “Share Repurchase Program” in the prospectus. • We cannot guarantee that we will make distributions, and if we do, we may fund such distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and we have no limits on the amounts we may pay from such sources. A return of capital (1) is a return of the original amount invested, (2) does not constitute earnings or profits and (3) will have the effect of reducing the basis such that when a shareholder sells its shares the sale may be subject to taxes even if the shares are sold for less than the original purchase price. • Distributions may also be funded in significant part, directly or indirectly, from temporary fee waivers or expense reimbursements borne by HPS or its affiliates, that may be subject to reimbursement to HPS or its affiliates. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled. • We expect to use leverage, which will magnify the potential for loss on amounts invested in us. • We qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act and we cannot be certain if the reduced disclosure requirement applicable to emerging growth companies will make our Common Shares less attractive to investors. • We intend to invest primarily in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value. • We do not own the HPS name, but we are permitted to use it as part of our corporate name pursuant to the investment advisory agreement between HLEND and HPS Investment Partners, LLC (together with its affiliates, “HPS”). Use of the name by other parties or the termination of the use of the HPS name under the investment advisory agreement may harm our business 14

Important Disclosure Information (Cont’d) Neither the Securities and Exchange Commission nor any state securities regulator has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any reference to the contrary is a criminal offense. This material must be read in conjunction with the HLEND prospectus in order to fully understand all the implications and risks of an investment in HLEND. This material is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only under HLEND’s registration statement filed with the Securities Exchange Commission and only by means of the prospectus, which must be made available to you prior to making a purchase of shares. Investors are advised to carefully consider the investment objectives, risks and charges and expenses of HLEND before investing. A copy of the prospectus containing this and other information about HLEND and can be obtained from the SEC’s website at http://www.sec.gov and at www.HLEND.com. You are advised to obtain a copy of the prospectus and to carefully review the information contained or incorporated by reference therein before making any investment decision, includingthe “Risk Factors” section therein, which contains a discussion of the risks and uncertainties that we believe are material to our business, operating results, prospects and financial condition. At this time, the information in the prospectus (or Statement of Additional Information) is not complete and may be changed. Limited Operating History. The Fund is a non-diversified, closed-end management investment company that has elected to be regulated as a BDC with limited operating history. As a result, prospective investors have limited track record or history on which to base their investment decision. There can be no assurance that the results achieved by similar strategies managed by HPS or its affiliates will be achieved for the Fund. Past performance should not be relied upon as an indication of future results. Moreover, the Fund is subject to all of the business risks and uncertainties associated with any new business, including the risk that it will not achieve its investment objective and that the value of an investor’s investment could decline substantially or that the investor will suffer a complete loss of its investment in the Fund. The Adviser and the members of the Investment Team have no prior experience managing a BDC, and the investment philosophy and techniques used by the Adviser to manage a BDC may differ from the investment philosophy and techniques previously employed by the Adviser, its affiliates, and the members of the Investment Team in identifying and managing past investments. In addition, the 1940 Act and the Code impose numerous constraints on the operations of BDCs and RICs thatdonot apply to the other types of investment vehicles. For example, under the 1940 Act, BDCs are required to invest at least 70% of their total assets primarily in securities of qualifying U.S. private companies or thinly traded public companies, cash, cash equivalents, U.S. government securities and other high-quality debt investments that mature in one year or less from the time of investment. The Adviser’s and the members of the Investment Team’s limited experience in managing a portfolio of assets under such constraints may hinder their respective ability to take advantage of attractive investment opportunities and, as a result, achieve the Fund’s investment objective. Numerical data is approximate and as of September 30, 2022, unless otherwise noted. Thewords “we,”“us”and “our”refer to HLEND, unless thecontext requires otherwise. ForwardLookingStatementDisclosure Certain information contained in this document constitutes “forward looking statements,” which can be identified by the use of forward looking terminology such as “may,” “will,” “expect,” “ intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words, or the negatives thereof. These may include our financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, and statements regarding future performance. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. HLEND believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its prospectus and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”) which will be accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in HLEND’s prospectus and other filings. 15

Important Disclosure Information (Cont’d) Except as otherwise required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. AdditionalImportantDisclosures This material was not created by any third party registered broker dealers or investment advisers who are distributing shares of HLEND (each a “Dealer”). The Dealers are not affiliated with HLEND and have not prepared the material or the information herein. Investments mentioned may not be suitable for all investors. Any product discussed herein may be purchased only after an investor has carefully reviewed the prospectus and executed the subscription documents. Alternative investments often are speculative, typically have higher fees than traditional investments, often include a high degree of risk and are suitable only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be highly illiquid and can engage in leverage and other speculative practices that may increase volatility and risk of loss. Opinions expressed herein reflect the current opinions of HPS as of the date appearing in the materials only and are based on HPS’s opinions of the current market environment, which is subject to change. Stockholders, financial professionals and prospective investors should not rely solely upon the information presented when making an investment decision and should review the most recent prospectus, as supplemented, available at www.sec.gov or www.HLEND.com. Certain information contained in the materials discusses general market activity, industry or sector trends, or other broad based economic, market or political conditions and should not be construed as research or investment advice. Further, opinions expressed herein may differ from the opinions expressed by a Dealer and/or other businesses affiliates of a Dealer. This is not a “research report” as defined by FINRA Rule 2241 and was not prepared by the research departments of a Dealer or its affiliates. Past performance is not a guarantee of future results. Actual results may vary. Diversification of an investor’s portfolio does not assure a profit or protect against loss in a declining market. Alternative investments may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. Individual funds have specific risks related to their investment programs that will vary from fund to fund. Prospective investors in HLEND should carefully read HLEND's prospectus for more information. HLEND does not provide any tax or legal advice and none of the data provided herein should be construed as investment, tax, accountingorlegal advice. Prospective investors should consult their own tax, legal and accounting advisors with respect to the tax consequences to them of investing in HLEND in light of their particular circumstances. Interests in alternative investment products are distributed by the applicable Dealer and (1) are not FDIC insured, (2) are not deposits or other obligations of such Dealer or any of its affiliates, and (3) are not guaranteed by such Dealer and its affiliates. Each Dealer is a registered broker dealer or investment adviser, not a bank. 16

Important Disclosure Information (Cont’d) Certain countries have been susceptible to epidemics or pandemics, most recently COVID 19. The outbreak of such epidemics or pandemics, together withany resulting restrictions on travel or quarantines imposed, could have a negative impact on the economy and business activity globally (including in the countries in which HLEND invests), and thereby could adversely affect the performance of HLEND’s investments. Furthermore, the rapid development of epidemics or pandemics could preclude prediction as to their ultimate adverse impact on economic and market conditions, and, as a result, present material uncertainty and risk with respect to HLEND and the performance of its investments or operations. The contents of this communication: (i) do not constitute an offer of securities or a solicitation of an offer to buy securities, (ii) offers can be made only by the respective offering documents which are available upon request, (iii) do not and cannot replace the offering documents and is qualified in its entirety by the offering documents, and (iv) may not be relied upon in making an investment decision related to any investment offering by the issuer of the securities, or any affiliate, or partner thereof ( Issuer ). All potential investors must read the offering documents and no person may invest without acknowledging receipt and complete review of the offering documents. With respect to any “targeted” goals outlined herein, these do not constitute a promise of performance, nor is there any assurance that the investment objectives of any program will be attained. All investments carry the risk of loss of some or all of the principal invested. These “targeted” factors are based upon reasonable assumptions more fully outlined in the offering documents for the respective investment opportunity. Consult the offering documents for investment conditions, risk factors, minimum requirements, fees and expenses and other pertinent information with respect to any investment. Past performanceis no guarantee of future results. All information is subject to change. You should always consult a tax and/or finance professional prior to investing. Issuer does not warrant the accuracy or completeness of the information contained herein. Thank you for your cooperation. Securities offered through Emerson Equity LLC Member: FINRA/SIPC. Only available in states where Emerson Equity LLC is registered. Emerson Equity LLC is not affiliated with any other entities identified in this communication. 17