KanawatTH/iStock via Getty Images Dear Friends & Partners, Our investment returns are summarized in the table below: Month YTD 12 Months 24 Months 36 Months Inception LRT Global Opportunities -8.00% -0.17% -1.83% +11.71% +11.71% +18.59% Results as of 9/30/2025. Periods longer than one year are annualized. All results are net of all fees and expenses. Past returns are no guarantee of future results. Please see the end of this letter for additional disclosures. LRT Global Opportunities is a system ...