XAI Floating Rate & Alternative Income Trust of Beneficial Interest – Underwriting Agreements Watch

from SCHEDULE 13G 1 page Sun Life Assurance Company of Canada Date: November 5, 2025 By: /S/ Randolph B. Brown Name: Randolph B. Brown Title: Authorized Signatory By: /S/ Brett W. Pacific Date: November 5, 2025 Name: Brett W. Pacific Title: Authorized Signatory Sun Life Financial Inc. Date: November 5, 2025 By: /S/ Randolph B. Brown Name: Randolph B. Brown Title: Authorized Signatory Date: November 5, 2025 By: /S/ Brett W. Pacific Name: Brett W. Pacific Title: Authorized Signatory

from SCHEDULE 13G 1 page Sun Life Assurance Company of Canada Date: November 5, 2025 By: /S/ Randolph B. Brown Name: Randolph B. Brown Title: Authorized Signatory By: /S/ Brett W. Pacific Date: November 5, 2025 Name: Brett W. Pacific Title: Authorized Signatory Sun Life Financial Inc. Date: November 5, 2025 By: /S/ Randolph B. Brown Name: Randolph B. Brown Title: Authorized Signatory Date: November 5, 2025 By: /S/ Brett W. Pacific Name: Brett W. Pacific Title: Authorized Signatory

from 8-K 12 pages We Hereby Agree to Retain Ubs Securities LLC (The “Agent” or “You”) as a Sub-Placement Agent With Respect to the Offerings of the Shares to Be Issued and Sold by the Fund (The “Offerings”) as the Fund and the Distributor May Indicate From Time to Time, and You Agree to Act in Such Capacity, All Upon, and Subject To, the Terms and Conditions Set Forth Below: Section 1. Description of Offerings

from 8-K 12 pages Distribution Agreement

from 8-K 15 pages We Hereby Agree to Retain Ubs Securities LLC (The “Agent” or “You”) as a Sub-Placement Agent With Respect to the Offerings of the Shares to Be Issued and Sold by the Fund (The “Offerings”) as the Fund and the Distributor May Indicate From Time to Time, and You Agree to Act in Such Capacity, All Upon, and Subject To, the Terms and Conditions Set Forth Below: Section 1. Description of Offerings

from 8-K 16 pages Distribution Agreement

from 8-K 15 pages We Hereby Agree to Retain Ubs Securities LLC (The “Agent” or “You”) as a Sub-Placement Agent With Respect to the Offerings of the Shares to Be Issued and Sold by the Fund (The “Offerings”) as the Fund and the Distributor May Indicate From Time to Time, and You Agree to Act in Such Capacity, All Upon, and Subject To, the Terms and Conditions Set Forth Below: Section 1. Description of Offerings

from 8-K 15 pages Amended and Restated Distribution Agreement

from 8-K 51 pages XAI Octagon Floating Rate & Alternative Income Term Trust, a Statutory Trust Organized Under the Laws of the State of Delaware (The “Fund”), Proposes to Issue and Sell to the Underwriters Named in Schedule a Annexed Hereto (The “Underwriters”) an Aggregate of 3,100,000 Shares (The “Firm Shares”) of Common Shares of Beneficial Interest, Par Value $0.01 Per Share (The “Common Shares”), of the Fund. in Addition, Solely for the Purpose of Covering Over-Allotments, the Fund Proposes to Grant to the Underwriters the Option to Purchase From the Fund Up to an Additional 465,000 Common Shares (The “Additional Shares”). the Firm Shares and the Additional Shares Are Hereinafter Collectively Sometimes Referred to as the “Shares.” the Shares Are Described in the Preliminary Prospectus (As Defined Below). B. Riley Securities, Inc. (The “Representative”) Will Act as Representative for the Several Underwriters in Connection With the Issuance and Sale of the Shares

from 8-K 46 pages XAI Octagon Floating Rate & Alternative Income Term Trust, a Statutory Trust Organized Under the Laws of the State of Delaware (The “Fund”), Proposes to Issue and Sell to the Underwriters Named in Schedule a Annexed Hereto (The “Underwriters”) an Aggregate of 1,040,000 Shares (The “Firm Shares”) of 6.50% Series 2026 Term Preferred Shares, Par Value $0.01 Per Share (The “Preferred Shares”), of the Fund. in Addition, Solely for the Purpose of Covering Over-Allotments, the Fund Proposes to Grant to the Underwriters the Option to Purchase From the Fund Up to an Additional 156,000 Preferred Shares (The “Additional Shares”). the Firm Shares and the Additional Shares Are Hereinafter Collectively Sometimes Referred to as the “Shares.” the Shares Are Described in the Preliminary Prospectus (As Defined Below). Ladenburg Thalmann & Co. Inc. (The “Representative”) Will Act as Representative for the Several Underwriters in Connection With the Issuance and Sale of the Shares

from 8-K 52 pages XAI Octagon Floating Rate & Alternative Income Term Trust, a Statutory Trust Organized Under the Laws of the State of Delaware (The “Fund”), Proposes to Issue and Sell to the Underwriters Named in Schedule a Annexed Hereto (The “Underwriters”) an Aggregate of 2,900,250 Shares (The “Firm Shares”) of Common Shares of Beneficial Interest, Par Value $0.01 Per Share (The “Common Shares”), of the Fund. in Addition, Solely for the Purpose of Covering Over-Allotments, the Fund Proposes to Grant to the Underwriters the Option to Purchase From the Fund Up to an Additional 435,038 Common Shares (The “Additional Shares”). the Firm Shares and the Additional Shares Are Hereinafter Collectively Sometimes Referred to as the “Shares.” the Shares Are Described in the Preliminary Prospectus (As Defined Below). National Securities Corporation (The “Representative”) Will Act as Representative for the Several Underwriters in Connection With the Issuance and Sale of the Shares

from 8-K 15 pages We Hereby Agree to Retain Ubs Securities LLC (The “Agent” or “You”) as a Sub-Placement Agent With Respect to the Offerings of the Shares to Be Issued and Sold by the Fund (The “Offerings”) as the Fund and the Distributor May Indicate From Time to Time, and You Agree to Act in Such Capacity, All Upon, and Subject To, the Terms and Conditions Set Forth Below: Section 1. Description of Offerings

from 8-K 15 pages Distribution Agreement