operating statements; (viii) first-hand knowledge of investing; (ix) experience in working in highly regulated and complex legal framework; (x) demonstrated ability to maintain
independence of management and other service agents while maintaining a constructive working relationship; (xi) ability to be critical, but not confrontational; (xii) demonstrated ability to contribute to Board and committee
process; (xiii) ability to consider diverse issues and make timely, well-informed decisions; (xiv) familiarity with the securities industry; and (xv) qualification as an Audit Committee Financial Expert. All equally
qualified candidates will be treated equally in consideration by the Nominating Committee.
The Board believes that each Trustee has the qualifications,
experience, attributes and skills (Trustee Attributes) appropriate to their service as the Funds Trustees in light of the Funds business and structure. Each of the Trustees has a demonstrated record of business and/or
professional accomplishment that indicates that they have the ability to critically review, evaluate and assess information provided to them. Certain of these business and professional experiences are set forth in detail in the charts above. In
addition, all of the Independent Trustees have served as a member of the board of other funds advised by Salient and its affiliates, other funds, public companies, or non-profit entities or other
organizations. They therefore have substantial boardroom experience and, in their service to the Fund, have gained substantial insight as to the Funds operation and have demonstrated a commitment to discharging oversight duties as Trustees in
the interests of shareholders.
In addition to the information provided in the charts above, certain additional information regarding the Trustees and
their Trustee Attributes is provided below. The information provided below, and in the charts above, is not all-inclusive. Many Trustee Attributes involve intangible elements, such as intelligence, integrity
and work ethic, along with the ability to work together, to communicate effectively, to exercise judgment and to ask incisive questions, and commitment to shareholder interests.
Julie Allecta Ms. Allecta has professional experience in the legal field. The Board also benefits from her experience as a
member of the board of other funds.
Jonathan P. Carroll Through his experience as the executive of business enterprises,
Mr. Carroll contributes experience in overseeing financial and investment organizations to the Board. The Board also benefits from his experience as a member of the board of other funds and operating companies.
A. John Gambs Mr. Gambs has served as a trustee to other mutual fund complexes and philanthropic organizations.
Mr. Gambs also has professional experience in the fields of finance and financial services. The Board also benefits from his experience as a member of the board of other funds.
Dr. Bernard A. Harris Through his experience as a senior officer of and board member of
financial and other organizations, Dr. Harris contributes his management and oversight experience to the Board. The Board also benefits from his experience as a member of the board of other funds and operating companies.
Haig G. Mardikian Mr. Mardikian has served as a trustee of numerous educational, philanthropic, and professional
organizations. Mr. Mardikian also has professional experience in the fields of real estate investment and broadcasting. The Board also benefits from his experience as a member of the board of other funds.
Gregory A. Reid Through his experience as a senior officer of various asset management firms, Mr. Reid has over twenty
years of experience investing in MLPs and Energy Infrastructure Companies dating back to his employment at Goldman Sachs in 1995. Prior to joining SPLP, Mr. Reid served as the Founder and CEO of Salient Capital Advisors, LLC, a Texas limited
liability company (SCA), then known as RDG Capital LLC, a Houston-based asset management firm specializing in MLP and Energy Sector investments.
During the fiscal year ended November 30, 2020, the Board met four times. The Board has four formal standing committees, including the Nominating
Committee, the Compliance Committee, the Valuation Committee and the Audit Committee. During such period, the Nominating Committee met four times, the Compliance Committee
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