Item - 2024.TA8.18

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved an investment of up to $500,000 in Class A units, subject to the terms and conditions outlined by the Direct Investment Committee as set out in the Confidential Attachment 1 to the report (November 6, 2024) from the Vice President, Impact Investing, Toronto Atmospheric Fund.

2.  Directed the Vice President, Impact Investing to implement the investment subject to the satisfaction of the Toronto Atmospheric Fund’s solicitor.

3.  Directed that the confidential information contained in Confidential Attachment 1 to the report (November 6, 2024) from the Vice President, Impact Investing, Toronto Atmospheric Fund remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The Direct Investment Committee (DC) recommends an investment of up to $500,000 in an impact focused private credit fund that executes credit investments in high-growth, sustainability-focused companies spanning clean energy, agriculture and health themes. The investment supports diversification of the Toronto Atmospheric Fund's investment portfolio through investments in debt instruments that provide regular cash flow through interest payments. This proposed investment complies with the Toronto Atmospheric Fund’s investment policy and target portfolio.