California AB 1305 Statement

California Voluntary Carbon Markets Disclosure (AB 1305)

The Voluntary Carbon Market Disclosures Act, Assembly Bill No. 1305 (AB-1305), requires certain entities to disclose specified information related to their marketing, sale, purchase, or use of certain voluntary carbon offsets under Cal. H&SC §§ 44475 and 44475.1. In addition, AB-1305 requires certain entities to disclose information regarding their claims of net zero achievement, carbon neutrality, or significant greenhouse gas (“GHG”) emissions reductions under Cal. H&SC § 44475.2. This disclosure is intended to work in conjunction with the HPS Investment Partners (“HPS”) Sustainability Report (available here) to fulfill HPS’s requirements under AB-1305.

Voluntary Carbon Offsets (Sections 44475 and 44475.1)

HPS does not market or sell voluntary carbon offsets (as defined in Section 44475) within the State of California, thus is not subject to Cal. H&SC § 44475. Further, HPS does not purchase or use voluntary carbon offsets sold within the State of California, thus is not subject to Cal. H&SC § 44475.1. See Cal H&SC § 44475.1(g).

Statements Regarding GHG Emissions Reductions (Section 44475.2)

HPS publishes statements regarding the reduction of its operational emissions but has not set emission reduction targets. To support such statements, HPS evaluates its emissions and progress on reductions in accordance with market practice, informed by established guidelines for emissions-related disclosures such as the Greenhouse Gas Protocol. There has not been independent third-party verification of HPS’s statements nor of the data on which they are based.

The information contained in this disclosure is current as of June 11, 2025.

Note: As stated above, several requirements of AB 1305 do not apply to HPS based on the statutory language. HPS provides these disclosures voluntarily in the spirit of transparency, even though HPS may not be subject to all of AB 1305’s requirements. Nothing in these voluntary disclosures should be construed as conceding that HPS activities or statements are currently subject to AB 1305.