https://www.sec.gov/Archives/edgar/data/1843499/000199937126014454/afa-ncsr_043026.htm | accession 0001999371-26-014454 | subsequent-events note, dated 2026-05-08: 'For the May 8, 2026, offer, approximately 84.80% of tendered shares were accepted' | printed fill rate, shares basis; the offer was prorated

“ollowing for disclosure in the Fund’s subsequent events: On May 8, 2026, the Fund completed a quarterly Repurchase Offer resulting in the repurchase of 7.00% or 1,892,643 of the Fund’s Shares. Shareholders actually tendered 2,231,996 total shares for repurchase. Shares were accepted on a pro rata basis, such that each shareholder had a portion of their tendered shares repurchased proportionately. For the May 8, 2026, offer, approximately 84.80% of tendered shares were accepted. The remaining shares tendered but not accepted were returned to shareholders. 24 AFA ASSET BASED LENDING FUND Report of Independent Registered Public Accounting Firm April 30, 2026 To the Shareholder”

extracted 2026-09-12T12:34:29 · confidence 1.0

https://www.sec.gov/Archives/edgar/data/1843499/000199937126014454/afa-ncsr_043026.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 1.57 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased July 8, 2025 August 7, 2025 5% 1.57% 433,865”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937126014454/afa-ncsr_043026.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 1.24 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased April 4, 2025 May 5, 2025 5% 1.24% 328,851”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937125008844/afa-ncsr_043025.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 2.75 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased January 13, 2025 February 13, 2025 5% 2.75% 710,243”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937125008844/afa-ncsr_043025.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 1.12 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased October 7, 2024 November 6, 2024 5% 1.12% 260,225”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937125008844/afa-ncsr_043025.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 0.55 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased July 8, 2024 August 7, 2024 5% 0.55% 121,708”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937125008844/afa-ncsr_043025.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 0.77 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased April 2, 2024 May 3, 2024 5% 0.77% 158,181”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937124008417/afa-ncsr_043024.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 0.32 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased January 12, 2024 February 12, 2024 5% 0.32% 59,888”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937124008417/afa-ncsr_043024.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 0.59 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased October 6, 2023 November 6, 2023 5% 0.59% 93,872”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937124008417/afa-ncsr_043024.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 0.15 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased July 7, 2023 August 7, 2023 5% 0.15% 18,855”

extracted 2026-09-13T15:20:19 · confidence 0.9

https://www.sec.gov/Archives/edgar/data/1843499/000199937124008417/afa-ncsr_043024.htm | repurchase results note, notice_deadline shape (redemption_fill_rate); the fund repurchased 0.94 against a offer amount of 5 on a percent of shares outstanding basis; Rule 23c-3 obliges the fund to repurchase every share tendered up to the offer amount, so a result below it means every request was met

“Repurchase Offer Notice Repurchase Request Deadline Repurchase Offer Amount % of Shares Repurchased Number of Shares Repurchased April 3, 2023 May 4, 2023 5% 0.94% 50,638”

extracted 2026-09-13T15:20:19 · confidence 0.9