<SEC-DOCUMENT>0000898432-26-000238.txt : 20260407
<SEC-HEADER>0000898432-26-000238.hdr.sgml : 20260407
<ACCEPTANCE-DATETIME>20260407160631
ACCESSION NUMBER:		0000898432-26-000238
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20260407
DATE AS OF CHANGE:		20260407

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BrightSpire Capital, Inc.
		CENTRAL INDEX KEY:			0001717547
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				384046290
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-90740
		FILM NUMBER:		26844768

	BUSINESS ADDRESS:	
		STREET 1:		590 MADISON AVENUE
		STREET 2:		33RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-547-2631

	MAIL ADDRESS:	
		STREET 1:		590 MADISON AVENUE
		STREET 2:		33RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Colony Credit Real Estate, Inc.
		DATE OF NAME CHANGE:	20180621

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Colony NorthStar Credit Real Estate, Inc.
		DATE OF NAME CHANGE:	20170920

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CWRE SSF Securities Holding, LP
		CENTRAL INDEX KEY:			0002122039
		ORGANIZATION NAME:           	
		EIN:				392899223
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		333 S HOPE ST
		STREET 2:		STE 2500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071
		BUSINESS PHONE:		626-788-2305

	MAIL ADDRESS:	
		STREET 1:		333 S HOPE ST
		STREET 2:		STE 2500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<schemaVersion>X0202</schemaVersion>
<headerData>
<submissionType>SCHEDULE 13G</submissionType>
<filerInfo>
<filer>
<filerCredentials>
<cik>0002122039</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<securitiesClassTitle>Class A Common Stock, par value $0.01 per share</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>03/31/2026</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001717547</issuerCik>
<issuerName>BrightSpire Capital, Inc.</issuerName>
<issuerCusips>
<issuerCusipNumber>10949T109</issuerCusipNumber>
</issuerCusips>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>590 MADISON AVENUE</com:street1>
<com:street2>33RD FLOOR</com:street2>
<com:city>NEW YORK</com:city>
<com:stateOrCountry>NY</com:stateOrCountry>
<com:zipCode>10022</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>CWRE SSF Securities Holding, LP</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>6531229</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>6531229</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6531229</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5</classPercent>
<typeOfReportingPerson>PN</typeOfReportingPerson>
<comments>Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>CWRE Special Situations Fund GP, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>6531229</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>6531229</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6531229</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5</classPercent>
<typeOfReportingPerson>PN</typeOfReportingPerson>
<comments>Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>CW Investment Advisers, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>6531229</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>6531229</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6531229</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5</classPercent>
<typeOfReportingPerson>IA</typeOfReportingPerson>
<comments>Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Hon Kit Shing</reportingPersonName>
<citizenshipOrOrganization>Q2</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>6531229</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>6531229</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6531229</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5</classPercent>
<typeOfReportingPerson>IN</typeOfReportingPerson>
<comments>Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.</comments>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>BrightSpire Capital, Inc.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>590 MADISON AVENUE, 33RD FLOOR, NEW YORK, New York, 10022</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>CWRE SSF Securities Holding, LP&#13;
CWRE Special Situations Fund GP, LLC&#13;
CW Investment Advisers, LLC&#13;
Hon Kit Shing</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>333 South Hope Street, Suite 2500, Los Angeles CA 90071</principalBusinessOfficeOrResidenceAddress>
<citizenship>CWRE SSF Securities Holding, LP is a Delaware limited partnership;&#13;
CWRE Special Situations Fund GP, LLC is a Delaware limited liability company; &#13;
CW Investment Advisers, LLC is a Delaware limited liability company; and&#13;
Hon Kit Shing is a New Zealand citizen.</citizenship>
</item2>
<item3>
<notApplicableFlag>Y</notApplicableFlag>
</item3>
<item4>
<amountBeneficiallyOwned>The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. &#13;
&#13;
CWRE Special Situations Fund GP, LLC ("Fund GP") is the general partner of CWRE SSF Securities Holding, LP ("Securities Holding"). In such capacity, Fund GP may be deemed to be the beneficial owner of the Common Stock owned directly by Securities Holding. &#13;
&#13;
CW Investment Advisers, LLC ("Investment Advisers") acts as investment manager to Securities Holding pursuant to an investment management agreement. Under such agreement, Investment Advisers has discretionary investment authority and voting power with respect to the shares of Common Stock directly held by Securities Holding. As such, Investment Advisers could be deemed to beneficially own the shares of Common Stock owned directly by Securities Holding.&#13;
&#13;
Mr. Shing is the sole director of Fund GP and the manager of Investment Advisers and, as such, could be deemed to beneficially own the shares of Common Stock owned directly by Securities Holding.&#13;
&#13;
The filing of this Schedule 13G shall not be construed as an admission that any of Fund GP, Investment Advisers or Mr. Shing is, for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Schedule 13G.</amountBeneficiallyOwned>
<classPercent>The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>Y</notApplicableFlag>
</item6>
<item7>
<notApplicableFlag>Y</notApplicableFlag>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
</items>
<exhibitInfo>Exhibit 1: Joint Filing Agreement, dated as of April 7, 2026, by and among CWRE SSF Securities Holding, LP, CWRE Special Situations Fund GP, LLC, CW Investment Advisers, LLC, and Hon Kit Shing, as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended.</exhibitInfo>
<signatureInformation>
<reportingPersonName>CWRE SSF Securities Holding, LP</reportingPersonName>
<signatureDetails>
<signature>/s/ Hon Kit Shing</signature>
<title>Hon Kit Shing, Authorized Signatory</title>
<date>04/07/2026</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>CWRE Special Situations Fund GP, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Hon Kit Shing</signature>
<title>Hon Kit Shing, Director</title>
<date>04/07/2026</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>CW Investment Advisers, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Hon Kit Shing</signature>
<title>Hon Kit Shing, Manager</title>
<date>04/07/2026</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Hon Kit Shing</reportingPersonName>
<signatureDetails>
<signature>/s/ Hon Kit Shing</signature>
<title>Hon Kit Shing</title>
<date>04/07/2026</date>
</signatureDetails>
</signatureInformation>
</formData>

</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh99-1.htm
<DESCRIPTION>AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: K&LGates
         Document created using Broadridge PROfile 26.3.2.5342
         Copyright 1995 - 2026 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <font style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">  </font>
  <div style="text-align: right;"><font style="font-weight: bold; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">EXHIBIT 1</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
    </font> </div>
  <font style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"> </font>
  <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><font style="font-weight: bold;"> <br>
    </font></div>
  <font style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"> </font>
  <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><font style="font-weight: bold;"> <br>
    </font></div>
  <font style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"> </font>
  <div><font style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
    </font>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 11pt; font-weight: bold;"><u>AGREEMENT REGARDING THE&#160;JOINT FILING&#160;OF SCHEDULE 13G</u></div>
    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
    </div>
    <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 11pt;">The undersigned hereby agree as follows:</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z9b8fe22c772c4f99bd250a79550f068c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">
              <div style="text-align: left; margin-left: 18pt; color: rgb(0, 0, 0);">(i)</div>
            </td>
            <td style="width: auto; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">
              <div style="color: rgb(0, 0, 0);">Each of them is individually eligible to use Schedule 13G, and the Schedule 13G to which this Exhibit is attached is filed on behalf of each of them; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z2a73af862586435bb89e25942e3400d7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">
              <div style="text-align: left; margin-left: 18pt; color: rgb(0, 0, 0);">(ii)</div>
            </td>
            <td style="width: auto; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">
              <div style="color: rgb(0, 0, 0);">Each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained
                therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div> <br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" align="left" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z5b6021f6ad82488a854686940cebd60f">

            <tr>
              <td style="width: 40%;">
                <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
              </td>
              <td rowspan="1" colspan="2">
                <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt; font-weight: bold;">CWRE SSF Securities Holding, LP</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40%;">
                <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
              </td>
              <td style="width: 10%; font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
              </td>
              <td style="width: 50%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40%;">
                <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
              </td>
              <td style="width: 10%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
              </td>
              <td style="width: 50%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40%;">
                <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
              </td>
              <td style="width: 10%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">Signature: <br>
                </div>
              </td>
              <td style="width: 50%;">
                <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">/s/ Hon Kit Shing</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40%;">
                <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
              </td>
              <td style="width: 10%; font-size: 11pt; font-family: 'Times New Roman',Times,serif;">Name/Title:<br>
              </td>
              <td style="width: 50%;">
                <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">Hon Kit Shing, Authorized Signatory</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40%;">
                <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
              </td>
              <td style="width: 10%; font-size: 11pt; font-family: 'Times New Roman',Times,serif;">Date:<br>
              </td>
              <td style="width: 50%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">April 7, 2026 <br>
                </div>
              </td>
            </tr>

        </table>
        <div style="clear: both;"><br>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" align="left" id="z5b6021f6ad82488a854686940cebd60f" style="width: 100%;">

              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="font-family: 'Times New Roman',Times,serif;" rowspan="1" colspan="2">
                  <div style="text-align: left; font-size: 11pt; font-weight: bold;">
                    <div style="font-weight: bold;">CWRE Special Situations Fund GP, LLC</div>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%; font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
                </td>
                <td style="width: 50%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                </td>
                <td style="width: 50%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">Signature: <br>
                  </div>
                </td>
                <td style="width: 50%;">
                  <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">/s/ Hon Kit Shing</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%; font-size: 11pt; font-family: 'Times New Roman',Times,serif;">Name/Title:<br>
                </td>
                <td style="width: 50%;">
                  <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">Hon Kit Shing, Director<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%; font-size: 11pt; font-family: 'Times New Roman',Times,serif;">Date:<br>
                </td>
                <td style="width: 50%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">April 7, 2026 <br>
                  </div>
                </td>
              </tr>

          </table>
        </div>
        <div style="clear: both;"><br>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" align="left" style="width: 100%;">

              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="font-family: 'Times New Roman',Times,serif;" rowspan="1" colspan="2">
                  <div style="text-align: left; font-size: 11pt; font-weight: bold;">
                    <div style="font-weight: bold;">CW Investment Advisers, LLC</div>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%; font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
                </td>
                <td style="width: 50%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                </td>
                <td style="width: 50%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">Signature: <br>
                  </div>
                </td>
                <td style="width: 50%;">
                  <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">/s/ Hon Kit Shing</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%; font-size: 11pt; font-family: 'Times New Roman',Times,serif;">Name/Title:<br>
                </td>
                <td style="width: 50%;">
                  <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">Hon Kit Shing, Manager<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%;">
                  <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                </td>
                <td style="width: 10%; font-size: 11pt; font-family: 'Times New Roman',Times,serif;">Date:<br>
                </td>
                <td style="width: 50%;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">April 7, 2026 <br>
                  </div>
                </td>
              </tr>

          </table>
        </div>
        <div style="clear: both;"><br>
        </div>
        <div><br>
          <div>
            <table cellspacing="0" cellpadding="0" border="0" align="left" style="width: 100%;">

                <tr>
                  <td style="width: 40%;">
                    <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                  </td>
                  <td style="font-family: 'Times New Roman',Times,serif;" rowspan="1" colspan="2">
                    <div style="text-align: left; font-size: 11pt; font-weight: bold;">
                      <div style="font-weight: bold;">Hon Kit Shing</div>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40%;">
                    <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                  </td>
                  <td style="width: 10%; font-family: 'Times New Roman',Times,serif; font-size: 11pt;"><br>
                  </td>
                  <td style="width: 50%;">
                    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40%;">
                    <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                  </td>
                  <td style="width: 10%;">
                    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                  </td>
                  <td style="width: 50%;">
                    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40%;">
                    <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                  </td>
                  <td style="width: 10%;">
                    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">Signature: <br>
                    </div>
                  </td>
                  <td style="width: 50%;">
                    <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 11pt;">/s/ Hon Kit Shing</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40%;">
                    <div style="font-size: 11pt; font-family: 'Times New Roman',Times,serif;">&#160;</div>
                  </td>
                  <td style="width: 10%; font-size: 11pt; font-family: 'Times New Roman',Times,serif;">Date:<br>
                  </td>
                  <td style="width: 50%;">
                    <div style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">April 7, 2026 <br>
                    </div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="clear: both;"><br>
          </div>
          <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0">


          </table>
        </div>
        <div><br>
        </div>
        <div> <br>
        </div>
        <div> </div>
        <div><br>
          <div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <br>
          </div>
          <br>
        </div>
      </div>
    </div>
  </div>
  <font style="font-family: 'Times New Roman',Times,serif; font-size: 11pt;">
  </font>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
