[1]	Unless otherwise indicated, issuers of investments held by WREIF are denominated in U.S. dollars and do not issue units or shares. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. All of WREIF investments are issued by eligible U.S. portfolio companies, as defined in the Investment Company Act of 1940, as amended, or the 1940 Act.
[2]	The following tables represent the composition of the portfolio by investment type and industry category as of December 31, 2024:
[3]	The following tables represent the composition of the portfolio by investment type and industry category as of March 31, 2024:
[4]	Non-Control/Non-Affiliate Investments are investments that are neither Control Investments nor Affiliate Investments. Control Investments generally are defined by the 1940 Act, as investments in companies in which WREIF owns more than 25% of the company’s capital and/or has the power to exercise control over the management or policies of the company. Affiliate Investments generally are defined by the 1940 Act as investments in companies in which WREIF owns between 5% and 25% of the company’s capital.
[5]	4.38% seven-day annualized yield as of December 31, 2024.
[6]	5.21% seven-day annualized yield as of March 31, 2024.

Wellings Real Estate Income Fund 10-Q