Call Recording

https://youtu.be/7SpzBd8dIog

Slide Deck

[https://docs.google.com/presentation/d/1w75aWWB6XeCkaTTeMcrDRmvTkq7AekV0ld8sI2KaUQU/edit?usp=sharing](https://docs.google.com/presentation/d/1w75aWWB6XeCkaTTeMcrDRmvTkq7AekV0ld8sI2KaUQU/preview?usp=sharing)

July 2025 Fund Update

The Dynamo Capital Fund delivered strong performance in July, with the team funding a record number of unique borrowers and assets. Through Property Llama's strategic use of pooled capital to negotiate enhanced terms, PL Dynamo 2 achieved strong July returns of 1.92-2.17%*, varying by share class—representing an increase from June. This applies to all investments into PL Dynamo 2 made on or before 7/1/25.

Annualized Performance Tracking

The fund's momentum remains robust across all share classes tracking, by class, at:

• Class A: 22.42% annualized return*
• Class B: 24.43% annualized return*
• Class C: 25.27% annualized return*

These results demonstrate the continued value of Property Llama's pooled capital approach in securing favorable investment terms for our fund participants.

You can read more about the specifics in the included Update from Dynamo at the end of this email. This month, the Dynamo team highlights: July serving as a successful test of long-term growth preparations, future capacity to handle 50-75% more volume, and a strategic focus on expanding sales leadership. Looking ahead to August, the team is targeting growth in the Denver market with strong DSCR and RTL loan volume trends

We encourage investors to read the updates and join our LIVE Fund Q&A on Friday, August 15th at 12:00PM MST with our sponsors.

Distribution Details

• What will be my return for July? Your exact dollar amount will be available shortly in your NAV Investor Portal.
  • Class A: 1.92%*
  • Class B: 2.10%*
  • Class C: 2.17%*
• When will my return be sent? July distributions will be sent by the end of August. Please allow 3–5 business days (depending on your financial institution) for processing and posting to your account.
• If you elected to Reinvest your distributions, the reinvested amount will be added to your capital balance and begin earning additional returns as of the 1st of August. The details will be updated in the investor portal around the 1st week in September.

Key Fund Information

• NAV Investor Portal: Your investor portal is managed by NAV Consulting, our Fund Administrator.
  • Investors who entered the fund on or before June 1st have already been sent portal activation instructions. If you do not have access to your portal, please contact NAV Consulting at [email protected] to request a new portal access email.
  • Investors who entered the fund on July 1st and elected to distribute their earnings monthly have already received or will be receiving an invitation from NAV Consulting to activate your portals by the end of the month. Please add this email address to your trusted contacts: [email protected]
  • Investors who entered the fund on July 1st and elected to reinvest their earnings will be receiving an invitation from NAV Consulting to activate your portals around the first week of September, if not before. Please add this email address to your trusted contacts: [email protected]
  • All other investors, including those entering the fund August 1st or currently in onboarding, will have NAV Consulting onboard them upon their first distribution. Portal access emails will be sent following your first investor statement. Please note that distributions will not be delayed due to portal access setup. If you have specific questions about your investment or portal access, please reach out to [email protected] or any member of our team.
• Trailing Dynamo LTV: This chart represents the Loan-to-Value (LTV) Average for the main Dynamo fund. "Newly Funded Loans" refers to loans funded in the prior month including DSCR, while "Average LTV of Portfolio" refers to the LTV of all loans on the books which excludes DSCR.

• LIVE! Dynamo Capital July 2025 Fund Report and LIVE Q&A Session: This exclusive interactive fund report is just for Property Llama investors! Investors will have the opportunity to ask questions directly to Justin and Matt about the fund.
  • WHEN: Friday, August 15th at 12:00PM MST
  • WHERE: Register here! Remember to email your questions ahead of time.

Fund Updates and Announcements

• PL Dynamo 2: Now Open through September 2025! We are thrilled to continue our partnership with Dynamo Capital through our PL Dynamo 2 Fund. Demand continues to grow for this offering, and we consistently see soft commits exceed allocation amounts on a monthly basis.
• If you're looking to increase your position, submit a Soft Commit to reserve your spot. While not legally binding, the soft commit ensures priority access to the growing waitlist.
• Compounding Election Available! PL Dynamo 2 includes a compounding election option, allowing investors to reinvest their returns into the fund seamlessly. This feature is designed to optimize long-term gains and accelerate portfolio growth. Investors selecting this option can build additional capital without requiring manual reinvestment each cycle.
• For more details, visit the PL Dynamo 2 Deal Room.
• Investment specific return percentage may vary slightly due to fund setup and maintenance expenses as detailed in the PL Dynamo 2 Operating Agreement.

We value your trust and partnership as an investor. If you have any questions or need further assistance, feel free to contact us at [email protected].

Best regards,

Chris Lopez, Richard McGirr, and the Entire Team at Property Llama Capital

P.S.—Submit your Dynamo questions now or anytime to [email protected] so we can discuss them during the LIVE Dynamo Capital July 2025 Fund Report Session on Friday, August 15th at 12:00PM MST. These calls will be recorded and shared with our investors.

The below message is a July Fund Update from Dynamo Sponsors, Justin Rocheleau and Matthew Medrano of Dynamo Capital, LLC: (edited for clarity)

July Recap

July was a standout month for our team. Over the past several quarters, our leadership has been focused on laying the groundwork for long-term growth—and July gave us our first big test. The team rose to the occasion, funding a record number of unique borrowers and assets. Even better, based on team feedback, we had the capacity to handle 50–75% more volume.

As we continue scaling our operational capacity, we’re now shifting focus toward adding sales leadership. This will help us build out market-specific loan officers in our key strategic markets.

July Financial Performance

• Revenue Figures:
  • $742,501.55 in fund revenue
    • $175,786.34 in origination fees
    • $21,420.55 in prepaid interest
    • $528,093.76 in interest revenue
    • $0.00 in extension fee revenue
    • $17,200.90 in yield spread revenue earned from the origination of loans to be sold
    • $0.00 in cashback on expenses placed on a charge card for the Fund
  • $65,232.23 in fund expenses allocated to July ($75,000 origination fee paid to LOC provider will be added to carried expense and amortized)
    • $6,756.25 in Administration expense paid to Armanino LLP
    • $3,597.00 in Fund level legal fees
    • $6,300.00 in tax and accounting
    • $75,000.00 origination fee paid to line of credit provider
    • $0.00 in origination fees paid to loan buyers
    • $43,078.98 in LOC interest expenses
    • $5,500 paid to Setpoint Technologies for warehouse line management services
  • $677,269.32 in fund profit
• Loan Origination Figures:
  • 28 loans funded
  • $6,783,376.66 in total loan volume
  • Average loan amount of $242,263.45
    • Current Portfolio average LTV: 70.08%
• Return Metrics:
  • Monthly Return (net of expenses, 50% profit split): 1.75%
  • 1.92% for PL Dynamo 2, Class A
  • 2.10% for PL Dynamo 2, Class B
  • 2.17% for PL Dynamo 2, Class C
• YTD through 7/31/2025 [ for Direct Dynamo Investors]: 11.89%
  • 13.08% for PL Dynamo 2, Class A
  • 14.25% for PL Dynamo 2, Class B
  • 14.74% for PL Dynamo 2, Class C
• Note: The GP has deferred a portion of compensation for July.
• This is applicable for all investments made on or before 7/1/2025
• Investor distributions will be sent [by the end of August for PL Dynamo 2 investors]

Looking Ahead: August 2025

August’s focus will be on expanding our sales team and making a bigger impact in the Denver market. DSCR and RTL loan volume is trending strong, and our underwriting team is hitting its stride as we diversify into new geographies beyond Wichita.

We’re staying disciplined with loan metrics and continuing to work with consistent, high-quality borrowers to manage risk. If trends hold, August should build on July’s momentum—bringing more growth and continued maturation of our operations.

Here’s to another strong month ahead!

| Justin Rocheleau