Board of Trustees of the Fire Pension Fund

AGENDA Board of Trustees of the Fire Pension Fund Fire Station #2, 1150 N. Arlington Heights Road May 4, 2026 9:00 AM I. CALL TO ORDER A. Certify Trustee Election Results B. Board Nominations II. ROLL CALL OF MEMBERS III. APPROVAL OF MINUTES A. Minutes of Firefighters Pension Board Meeting - February 9, 2026 IV. CLOSED SESSION V. TREASURER'S REPORT A. Financial Report - Q1, 2026 VI. PAYMENT OF BILLS A. Payment of Bills - Q1, 2026 VII. REPORTS A. FPIF - Arlington Heights Pension Fund Summary as of March 2026 B. FPIF - Consolidated Fund as of March 2026 VIII. OLD BUSINESS A. Buy-Back of Service Time - FF/P Sergio Duran IX. NEW BUSINESS A. Applications for Membership - FF Ryan Loy and FF John Holland, hired on February 23, 2026, also FF Alec Castillo hired on April 27, 2026 B. Death of Charlynn Collignon on March 15, 2026 (spouse of deceased FF Gerald Collignon) - Cessation of Benefits C. Application for Retirement Pension - FF/P Darla Pitts as of February 23, 2026 D. Application for Retirement Pension - FF/P David Ruszkowski as of April 6, 2026 E. Release of Closed Executive Session Minutes Page 1 of 29 X. OTHER BUSINESS A. Announcements / Correspondence XI. PUBLIC COMMENT Anyone wishing to speak on a subject not on the Agenda may speak at this time. Please limit your comments to three minutes. XII. ADJOURNMENT The Village of Arlington Heights is committed to digital accessibility for all users. Persons with disabilities requiring auxiliary aids or services, such as an American Sign Language interpreter or written materials in accessible formats, should contact the Health & Human Services Department — located at 33 S. Arlington Heights Road, Arlington Heights, IL 60005 — at 847- 368-5760 or ADA@vah.com. Page 2 of 29  ARLINGTON HEIGHTS FIREFIGHTERS’ PENSION BOARD Minutes of the Regular Mee�ng held on February 9, 2026 Members in Atendance: Adam Sielig Lance Harris Melissa Gallagher Peter Ahlman Member Absent: Kyle Kaczanowski Others in Atendance: Thomas Radja, Board Atorney CALL TO ORDER The Firefighters Pension Board mee�ng was called to order at 9:01 AM. Roll was called with board members Adam Sielig, Lance Harris, Melissa Gallagher, and Pete Ahlman present. Absent was board member Kyle Kaczanowski. APPROVAL OF MINUTES Minutes of the Regular Pension Board Mee�ng on November 17, 2025 were reviewed for approval. A mo�on was made and seconded (A. Sielig/M. Gallagher) to approve the minutes from the Regular Pension Board mee�ng on November 17, 2025. All in favor, mo�on passed. CLOSED SESSION None TREASURER’S REPORT Melissa Gallagher distributed the Financial Report ending December 31, 2025, as well as the Projected Cash Flow report through year end. Financial Report The balance sheet report indicates $183.3 million in total net assets. For Revenue, Actual YTD is at $35.4 million, and Expenditures at $9.9 million, thus 100% on target with an ending fund balance at $183.3 million. Projected Cash Flow Report Star�ng on Page 2 and 3 of the Financial Report, the Cash Flow by Month shows Cash in and Cash out for 2025, and then carried forward to2026. Cook County has remited their 2nd installment of Property Firefighters’ Pension Board Meeting – February 9, 2026 – Page 1 of 5 Page 3 of 29 Taxes for budget year 2025. The 2026 Projected Cash Flow shows the cash flow from property taxes, employee contribu�ons, and interest earnings. The Cash flow out shows payments for pensions and administra�ve expenses projected to the end of the year. Mo�on was made and seconded (A. Sielig/P. Ahlman) to accept the Treasurer’s Report as of Q4, 2025. All in Favor - Mo�on carried. PAYMENT OF BILLS The current check register/journal voucher iden�fies four payments made (secretarial services, medical exams, and legal fees), namely check #789 through #792, for a total amount of $20,371.30. Mo�on was made and seconded (A. Sielig/M. Gallagher) to accept four payments made, check #789 through check #792, totaling $20,371.30. Roll was called. Ayes – A. Sielig, L. Harris, M. Gallagher, P. Ahlman Nays - 0 Mo�on carried. REPORTS • Illinois Firefighters Pension Investment Fund (FPIF) The Arlington Heights summary report as of December 2025 was reviewed. The beginning Net Asset Value (NAV) was $179,798,456 with a rate of return of 0.50%. The ending NAV balance as of December 2025 was $180,694,676. The 2025 YTD beginning balance was $153,713,995, with a rate of return at 17.55%. In addi�on, the Monthly Summary of December 2025 for the consolidated fund was distributed. OLD BUSINESS • Death of FF Phillip Palczynski – Spousal Survivor Benefits Update Atorney Tom Radja stated he received no�fica�on on January 15 from the Palczynski atorney indica�ng a mo�on to withdraw the line of duty pension applica�on. It has been a lengthy and �me- consuming process to gather the many documents needed to proceed towards a Disability Hearing. A�er reviewing these documents, the atorney advised the decision to withdraw was made. Based on this mo�on to withdraw, the Board can now proceed to approve the withdrawal applica�on. Firefighters’ Pension Board Meeting – February 9, 2026 – Page 2 of 5 Page 4 of 29  Mo�on was made and seconded (A. Sielig/P. Ahlman) to approve the withdrawal of the Duty Disability Applica�on for the spousal benefit on behalf of deceased FF Phil Palczynski. Roll was called. Ayes – A. Sielig, L. Harris, M. Gallagher, P. Ahlman Nays - 0 Mo�on carried. • Applica�on for Duty Disability Pension – FF/E Thomas Dobbins On February 6, a leter from the atorney for Thomas Dobbins was received indica�ng he was withdrawing his Duty Disability Pension applica�on and now rever�ng to a Regular Re�rement Pension. Based on his years of service and age, the calcula�on is essen�ally the same benefit. The difference is primarily a tax liability issue. The paperwork for this change was received and forwarded to Mary Ellen Juarez in Finance. She will process the paperwork and determine the financial numbers. The leter from his atorney indicates this would be retroac�ve to April 6, 2025. However, his last payroll hours were paid to April 16. He also requested and was granted a 30-day leave of absence effec�ve April 17. He had previously used all his vaca�on and sick-�me hours. Therefore, the retroac�ve date of his pension should correctly be April 17. Atorney Radja recommends a mo�on be made to approve the withdrawal of the Duty Disability Pension applica�on and proceed with a Regular Re�rement Pension based on the effec�ve day of his removal from payroll and con�ngent on receipt of the re�rement paperwork and approval of the municipality. Mo�on was made and seconded (M. Gallagher/A. Sielig) to approve the applica�on for Regular Re�rement Pension con�ngent on receipt of the applica�on paperwork and approval of the date being April 17, 2025. Roll was called. Ayes – A. Sielig, L. Harris, M. Gallagher, P. Ahlman Nays - 0 Mo�on carried. Mo�on was made and seconded (A. Sielig/L. Harris) to approve withdrawal of the Duty Disability Pension applica�on. Roll was called. Ayes – A. Sielig, L. Harris, M. Gallagher, P. Ahlman Nays - 0 Mo�on carried. • Military Buy-Back Payment Plan – Update A few ac�ve members expressed interest but once they received the numbers, felt it was a Firefighters’ Pension Board Meeting – February 9, 2026 – Page 3 of 5 Page 5 of 29  considerable amount of money and would be difficult for them to proceed. Adam Sielig did not receive any confirma�on from the members. Of the upcoming new hires, two in March and one in April, these are veterans. A�er their hire dates, we will determine if these or any others express further interest. • Annual Medical Evalua�on, Re�red Disabled FF Under Age 50 – Daniel Bennet Upon evalua�on, the medical physician submited his affidavit indica�ng that Daniel Bennet con�nues to be disabled as of December 15, 2025. Mo�on was made and seconded (A. Sielig/P. Ahlman) to approve con�nua�on of disability benefits to re�red FF Daniel Benet. Roll was called. Ayes – A. Sielig, L. Harris, M. Gallagher, P. Ahlman Nays - 0 Mo�on carried. NEW BUSINESS • Buy-Back of Service Time – FF/P Sergio Duran FF Sergio Duran recently suffered an injury, but Mary Ellen will begin the process. Previously he worked for six years with Rockford Fire Department. As such, we will place this onto the agenda for the next mee�ng. • Illinois HB1648 – Payment of Re�ree Union Dues via Monthly Pension House Bill 1648 was approved and passed by Illinois legislature. In summary, going forward if re�rees prefer, they can have union dues removed from their monthly pension. This will require writen request and approval. The sugges�on was made to have this as a checkbox item for union members on the pension re�rement applica�on. OTHER BUSINESS Adam Sielig stated our firefighters Union was interested to know the salary cap for Tier II members. Atorney Radja indicated this was recently iden�fied in the latest “Siren” newsleter and he recalls it is approximately about $145-146,000. He will forward a copy of this to Adam Sielig for his review and for the union as well. PUBLIC COMMENTS None. ADJOURNMENT As there was no other business to present before the Board, a mo�on was made and seconded (A. Sielig/P. Ahlman) to adjourn the mee�ng at 9:18 AM. Firefighters’ Pension Board Meeting – February 9, 2026 – Page 4 of 5 Page 6 of 29 NEXT REGULAR MEETING – Scheduled for Monday, May 4, 2026 at 9:00 AM. __________________________ Recording Secretary __________________________ Board Secretary Firefighters’ Pension Board Meeting – February 9, 2026 – Page 5 of 5 Page 7 of 29  CY 2026 BALANCE SHEET March 31, 2026 FIREFIGHTERS' PENSION FUND Arlington Heights YTD Firefighters' Pension Fund ASSETS ACTUAL March 2026 Financial Report Cash and Investments Cash and Equivalents 1,553,567 Pension Investments 178,821,744 Illinois Funds 14,058 180,389,368 Receivables Accrued Interest 0 Other 0 Due From Other Funds 0 TOTAL ASSETS 180,389,368 LIABILITIES Accounts Payable 0 Deferred Portability Payment 0 Due To Other Funds 0 TOTAL LIABILITIES 0 NET ASSETS 180,389,368 BUDGET COMPARISON REPORT CALENDAR YEAR 2026 March 31, 2026 FIREFIGHTERS' PENSION FUND 25% of the Calendar Year 2026 MTD MTD YTD YTD UNREALIZED PERCENT REVENUES BUDGET BUDGET ACTUAL BUDGET ACTUAL DOLLARS RECEIVED Interest on Investments 1,000,000 83,333 225,287 250,000 661,586 338,414 66% Market Value Adjustments 2,000,000 166,667 (9,171,725) 500,000 (2,790,334) 4,790,334 -140% Dividend Income 500,000 41,667 111,338 125,000 255,483 244,517 51% Derivatives/Private Equity 0 0 38,034 0 104,788 (104,788) N/A Contributions - Participants 1,300,000 108,333 105,808 325,000 315,872 984,128 24% Contributions - R/E Tax 7,226,000 602,167 1,183,802 1,806,500 1,183,802 6,042,198 16% Other Income 0 0 0 0 48 (48) N/A TOTAL 12,026,000 1,002,167 (7,507,456) 3,006,500 (268,756) 12,294,756 -2% 2026 MTD MTD YTD YTD AVAILABLE PERCENT EXPENDITURES BUDGET BUDGET ACTUAL BUDGET ACTUAL DOLLARS SPENT Service Pensions 6,760,000 563,333 567,428 1,690,000 1,753,290 5,006,710 26% Non-Duty Disability Pensions 90,400 7,533 7,534 22,600 22,603 67,797 25% Duty Disability Pensions 1,246,100 103,842 103,842 311,525 311,527 934,573 25% Surviving Spouse Pensions 1,622,500 135,208 122,786 405,625 368,357 1,254,143 23% Occupational Disease Pensions 331,300 27,608 27,605 82,825 82,814 248,486 25% Legal Services 30,000 2,500 0 7,500 0 30,000 0% Investment Manager Services 200,000 16,667 28,085 50,000 94,380 105,620 47% Examinations 15,000 1,250 0 3,750 0 15,000 0% Other Services 9,500 792 0 2,375 193 9,307 2% Dues 1,300 108 0 325 0 1,300 0% Training 2,000 167 0 500 0 2,000 0% Postage 300 25 142 75 297 3 99% Publications/Periodicals 100 8 0 25 0 100 0% Office Supplies & Equip 100 8 110 25 110 (10) 110% Pension Refunds 25,000 2,083 0 6,250 0 25,000 0% TOTAL 10,333,600 861,133 857,533 2,583,400 2,633,572 7,700,028 25% REVENUE OVER (UNDER) EXPENDITURES 1,692,400 141,033 (8,364,989) 423,100 (2,902,328) 4,594,728 -171% BEG. FUND BALANCE 183,291,696 183,291,696 ENDING FUND BALANCE 184,984,096 180,389,368 Page 8 of 29 Page 9 of 29 Page 10 of 29 Page 11 of 29 Page 12 of 29 Illinois Firefighters' Pension Investment Fund Monthly Summary March 31, 2026 Preliminary, subject to change Page 13 of 29 Illinois Firefighters' Pension Investment Fund Executive Summary As of March 31, 2026 24.0 16.3 16.0 15.1 12.4 11.8 11.0 10.5 7.2 6.6 Return 8.0 6.5 6.3 6.1 0.0 -1.0 -1.3 -4.7 -4.6 -8.0 -16.0 1 3 FYTD 1 2 3 5 Inception Month Months Year Years Years Years 10/1/21 Total Fund Composite IFPIF Policy Benchmark Total Fund Composite vs. Target Allocation Mo Current Balance Portfolio Policy (%) Total Equity Composite 14.7% Total Fund Composite 10,944,919,490 100.0 100.0 -1.0 Total Fund Composite excl. Member Funds 10,944,914,822 100.0 100.0 -1.0 Total Fixed Income Composite 2.3% Total Equity Composite 5,986,084,233 54.7 40.0 -2.1 Total Fixed Income Composite 3,585,888,417 32.8 30.5 0.0 Total Alternatives Composite -18.4 % Total Alternatives Composite 1,216,039,672 11.1 29.5 1.8 Cash Composite 156,898,614 1.4 0.0 -3.2 Cash Composite 1.4% -25.0 % 0.0% 25.0% Difference Policy targets are based on FPIF’s Long-Term Asset Allocation. Actual weightings may differ from policy target weightings as FPIF progresses towards full funding of alternative assets. 2 Page 14 of 29 Illinois Firefighters' Pension Investment Fund Portfolio Allocation Month Ending March 31, 2026 1 Mo Asset Class Market Value ($) Portfolio (%) Policy (%) (%) Total Fund Composite 10,944,919,490 100.0 100.0 -4.7 Total Fund Composite excl. Member Funds 10,944,914,822 100.0 100.0 -4.7 Total Equity Composite 5,986,084,233 54.7 40.0 -7.2 U.S. Equity Composite 3,719,176,377 34.0 25.0 -4.9 Rhumbline Russell 200 Large-Cap Core 2,788,581,106 25.5 19.0 -4.9 Rhumbline Russell Midcap Mid-Cap Core 773,517,811 7.1 5.0 -5.3 Rhumbline S&P 600 Small-Cap Core 157,077,460 1.4 1.0 -4.0 Non-U.S. Equity Composite 2,266,907,856 20.7 15.0 -10.7 International Developed Equity Composite 1,659,824,879 15.2 11.0 -9.7 SSGA World ex US Non-U.S. Large-Cap Core 1,504,248,247 13.7 10.0 -9.6 SSGA World ex US Small Non-U.S. Small-Cap Core 155,576,632 1.4 1.0 -11.0 Emerging Markets Equity Composite 607,082,977 5.5 4.0 -13.3 Invesco EM Large Cap ex China Emerging Markets 224,143,364 2.0 1.5 -13.5 Numeric EM Large Cap ex China Emerging Markets 226,730,689 2.1 1.5 -15.1 SSGA MSCI EM Small ex China EM Small-Cap 156,188,742 1.4 1.0 -10.5 Transition Account Emerging Markets 20,183 0.0 0.0 -6.6 Total Fixed Income Composite 3,585,888,417 32.8 30.5 -2.1 Rate Sensitive Composite 3,259,533,703 29.8 27.5 -1.9 Short-Term Treasury Composite 435,235,277 4.0 0.0 -0.5 SSGA Short Treasury Short-Term Govt. Fixed Income 435,235,277 4.0 0.0 -0.5 Core Fixed Income Composite 2,824,298,425 25.8 27.5 -2.1 Garcia Hamilton & Associates Core Fixed Income 1,413,006,867 12.9 13.8 -2.6 Brown Brothers Harriman & Co Core Plus Fixed Income 1,411,291,558 12.9 13.8 -1.7 Credit Fixed Income Composite 326,354,715 3.0 3.0 -3.6 Emerging Markets Debt Composite 326,354,715 3.0 3.0 -3.6 EMD Transition Account EM Fixed Income 228,734 0.0 0.0 -2.2 William Blair Investment Management EM Fixed Income 326,125,980 3.0 3.0 -3.6 3 Page 15 of 29 Illinois Firefighters' Pension Investment Fund Portfolio Allocation Month Ending March 31, 2026 1 Mo Asset Class Market Value ($) Portfolio (%) Policy (%) (%) Total Alternatives Composite 1,216,039,672 11.1 29.5 1.0 Real Estate Composite 698,619,521 6.4 7.5 0.6 Infrastructure Composite 173,017,915 1.6 5.0 0.3 Private Equity Composite 70,976,509 0.6 10.0 3.4 Private Credit Composite 273,425,728 2.5 7.0 1.6 Cash Composite 156,898,614 1.4 0.0 -5.5 Transition Composite 3,885 0.0 - -2.0 Member Funds Composite 4,669 0.0 - 0.3 Policy targets are based on FPIF’s Long-Term Asset Allocation. Actual weightings may differ from policy target weightings as FPIF progresses towards full funding of alternative assets. 4 Page 16 of 29 Illinois Firefighters' Pension Investment Fund As of March 31, 2026 Market Value History 15,000.0 12,000.0 11,507.5M 10,944.9M 9,000.0 Millions ($) 6,000.0 3,000.0 1,597.4M 0.0 -3,000.0 10/21 1/22 4/22 7/22 10/22 1/23 4/23 7/23 10/23 1/24 4/24 7/24 10/24 1/25 4/25 7/25 10/25 3/26 Market Value Beginning Ending Income % of Contributions Distributions Gain/Loss Income Periods Ending Market Value Market Value %Return Unit Value Beginning $ $ $ $ $ $ Market Value Summary of Cash Flows Oct-2021 - - - - 1,597,393,294.85 - 100.0 - 0.0 1 3 FYTD 1 2 3 Since Nov-2021 1,597,393,294.85 2,134,158,572.86 Month ($) -1,466,244,426.34 Months ($) ($) -37,943,015.97 Year ($) 2,227,364,425.40 Years ($) -1.7 Years98.3 ($) - ($) 0.0 Inception Dec-2021 2,227,364,425.40 1,713,221,155.65 -1,151,325,334.16 77,095,061.46 2,866,355,308.35 2.8 101.0 - 0.0 Total Fund Composite Beginning Market Value 11,507,532,281 11,069,125,410 10,278,127,994 9,492,295,748 8,788,158,368 7,612,635,875 - Jan-2022 2,866,355,308.35 10,079,805,923.72 -6,127,760,095.15 -271,408,285.68 6,546,992,851.24 -4.0 97.0 34.37 0.0 Net Cash Flow -22,861,264 -12,476,480 -64,179,529 -82,156,668 85,495,961 96,782,019 8,418,719,207 Feb-2022 6,546,992,851.24 2,705,002,387.70 -2,319,714,302.79 -129,853,960.57 6,802,426,975.58 -1.9 95.2 287.46 0.0 Net Investment Change -539,751,527 -111,729,441 730,971,025 1,534,780,410 2,071,265,161 3,235,501,596 2,526,200,283 Mar-2022 6,802,426,975.58 131,797,704.97 -90,636,632.97 48,053,036.13 6,891,641,083.71 0.7 95.8 - 0.0 Ending Market Value 10,944,919,490 10,944,919,490 10,944,919,490 10,944,919,490 10,944,919,490 10,944,919,490 10,944,919,490 Apr-2022 6,891,641,083.71 1,030,419,931.58 -683,563,870.72 -429,276,488.13 6,809,220,656.44 -5.9 90.1 - 0.0 5 Page 17 of 29 Illinois Firefighters' Pension Investment Fund Annualized Performance (Net of Fees) As of March 31, 2026 1 Mo 3 Mo FYTD 1 Yr 2 Yrs 3 Yrs 5 Yrs SI Inception (%) (%) (%) (%) (%) (%) (%) (%) Date Total Fund Composite -4.7 -1.0 7.2 16.3 11.0 12.4 - 6.3 Oct 21 IFPIF Policy Benchmark -4.6 -1.3 6.6 15.1 10.5 11.8 6.5 6.1 IFPIF Actuarial Rate (7.125%) 0.6 1.7 5.3 7.1 7.1 7.1 - 7.1 Total Fund Composite excl. Member Funds -4.7 -1.0 7.2 16.3 11.0 12.4 - 6.0 Nov 21 IFPIF Policy Benchmark -4.6 -1.3 6.6 15.1 10.5 11.8 6.5 5.4 Total Equity Composite -7.2 -2.1 8.7 22.2 13.9 16.5 - 8.0 Nov 21 MSCI AC World IMI Index (Net) -7.3 -2.7 8.1 20.6 13.2 16.2 9.0 7.7 U.S. Equity Composite -4.9 -3.8 6.4 18.7 12.8 17.9 - 9.0 Nov 21 Russell 3000 Index -5.0 -4.0 6.4 18.1 12.5 17.9 10.9 8.8 Rhumbline Russell 200 -4.9 -5.5 5.7 18.2 13.7 19.6 - 10.3 Nov 21 Russell Top 200 Index -4.9 -5.5 5.7 18.2 13.8 19.7 12.7 10.4 Rhumbline Russell Midcap -5.3 1.3 6.9 16.0 9.1 13.3 - 5.3 Nov 21 Russell Midcap Index -5.3 1.3 6.9 16.0 9.1 13.3 7.3 5.3 Rhumbline S&P 600 -4.0 3.5 14.9 20.5 7.9 10.5 - 3.9 Nov 21 S&P SmallCap 600 Index -4.1 3.5 14.9 20.5 7.9 10.5 4.5 3.9 Non-U.S. Equity Composite -10.7 0.6 12.8 28.0 15.7 14.9 - 6.9 Nov 21 MSCI AC World ex USA IMI (Net) -10.8 -0.7 11.2 25.3 15.0 14.4 6.8 6.5 International Developed Equity Composite -9.7 -0.7 10.4 23.6 14.1 14.4 - 7.4 Nov 21 MSCI World ex U.S. IMI Index (Net) -9.9 -0.9 9.9 23.8 14.1 14.2 8.0 7.2 SSGA World ex US -9.6 -0.8 10.0 23.5 14.2 14.7 - 8.0 Nov 21 MSCI World ex U.S. (Net) -9.7 -0.9 9.8 23.0 13.8 14.3 8.4 7.6 SSGA World ex US Small -11.0 -0.3 10.8 29.5 16.0 14.1 - 4.7 Nov 21 MSCI World ex U.S. Small Cap Index (Net) -11.2 -0.4 10.6 29.2 15.7 13.8 5.4 4.4 6 Page 18 of 29 Illinois Firefighters' Pension Investment Fund Annualized Performance (Net of Fees) As of March 31, 2026 1 Mo 3 Mo FYTD 1 Yr 2 Yrs 3 Yrs 5 Yrs SI Inception (%) (%) (%) (%) (%) (%) (%) (%) Date Emerging Markets Equity Composite -13.3 4.0 19.9 39.5 19.8 16.6 - 6.2 Nov 21 MSCI Emerging Markets IMI (Net) -12.8 -0.2 14.3 28.9 17.2 14.7 4.0 4.9 Invesco EM Large Cap ex China -13.5 4.7 - - - - - 4.7 Jan 26 MSCI Emerging Markets ex China Index (Net) -14.8 3.2 21.3 41.3 17.6 18.6 8.1 3.2 Numeric EM Large Cap ex China -15.1 4.2 - - - - - 4.2 Jan 26 MSCI Emerging Markets ex China Index (Net) -14.8 3.2 21.3 41.3 17.6 18.6 8.1 3.2 SSGA MSCI EM Small ex China -10.5 3.4 - - - - - 3.8 Nov 25 MSCI Emerging Markets Small Cap (Net) -11.1 -0.7 6.3 24.6 10.5 13.7 6.7 -1.4 Total Fixed Income Composite -2.1 0.0 3.7 5.4 5.6 4.9 - 1.1 Nov 21 Blmbg. U.S. Universal Index -1.8 -0.1 3.2 4.6 4.9 4.2 0.7 0.3 Rate Sensitive Composite -1.9 0.0 3.3 4.8 5.2 4.4 - 0.9 Nov 21 Blmbg. U.S. Aggregate Index -1.8 0.0 3.1 4.3 4.6 3.6 0.3 -0.1 Short-Term Treasury Composite -0.5 0.3 2.5 3.8 4.6 4.1 - 4.1 Apr 23 Blmbg. U.S. Treasury: 1-3 Year -0.5 0.3 2.5 3.8 4.6 4.0 1.8 4.0 SSGA Short Treasury -0.5 0.3 2.5 3.8 4.6 4.1 - 4.1 Apr 23 Blmbg. U.S. Treasury: 1-3 Year -0.5 0.3 2.5 3.8 4.6 4.0 1.8 4.0 Core Fixed Income Composite -2.1 0.0 3.4 4.9 5.3 4.5 - 0.7 Nov 21 Blmbg. U.S. Aggregate Index -1.8 0.0 3.1 4.3 4.6 3.6 0.3 -0.1 Garcia Hamilton & Associates -2.6 -0.1 3.6 4.7 4.9 3.2 - 3.2 Apr 23 Blmbg. U.S. Aggregate Index -1.8 0.0 3.1 4.3 4.6 3.6 0.3 3.6 Brown Brothers Harriman & Co -1.7 0.0 3.3 5.2 5.8 5.8 - 5.8 Apr 23 Blmbg. U.S. Aggregate Index -1.8 0.0 3.1 4.3 4.6 3.6 0.3 3.6 7 Page 19 of 29 Illinois Firefighters' Pension Investment Fund Annualized Performance (Net of Fees) As of March 31, 2026 1 Mo 3 Mo FYTD 1 Yr 2 Yrs 3 Yrs 5 Yrs SI Inception (%) (%) (%) (%) (%) (%) (%) (%) Date Credit Fixed Income Composite -3.6 -0.6 7.7 11.8 9.0 9.5 - 2.3 Nov 21 JPM EMBI Global Diversified -3.3 -1.3 6.8 10.4 8.6 9.5 2.5 2.0 Emerging Markets Debt Composite -3.6 -0.6 7.7 11.8 9.0 9.5 - 2.3 Nov 21 JPM EMBI Global Diversified -3.3 -1.3 6.8 10.4 8.6 9.5 2.5 2.0 William Blair Investment Management -3.6 -0.2 9.3 14.2 - - - 12.7 Jun 24 JPM EMBI Global Diversified -3.3 -1.3 6.8 10.4 8.6 9.5 2.5 9.6 Total Alternatives Composite 1.0 1.8 8.2 9.7 7.7 4.5 - 2.9 Oct 21 Real Estate Composite 0.6 1.2 5.5 6.0 5.8 3.3 - 2.1 Oct 21 Real Estate Custom Benchmark 0.6 0.6 2.7 2.7 3.7 1.4 3.9 1.7 Infrastructure Composite - - - - - - - - Mar 25 Private Equity Composite - - - - - - - - Jun 24 Private Credit Composite - - - - - - - - Jul 24 8 Page 20 of 29 Illinois Firefighters' Pension Investment Fund Public Markets Fee Schedule As of March 31, 2026 9 Page 21 of 29 Illinois Firefighters' Pension Investment Fund Benchmark Composition As of March 31, 2026 Benchmark Weight (%) Benchmark Weight (%) IFPIF Policy Benchmark : Jan-2026 Real Estate Custom Benchmark : Jan-2026 Russell Top 200 Index 27.00 NFI-ODCE Equal Weighted 67.00 Russell Midcap Index 7.00 MSCI Private Capital Global Real Estate 33.00 S&P SmallCap 600 Index 1.50 MSCI World ex U.S. (Net) 14.00 MSCI World ex U.S. Small Cap Index (Net) 1.50 MSCI Emerging Markets ex China Index (Net) 4.00 MSCI Emerging Markets Small Cap (Net) 1.50 Blmbg. U.S. Treasury: 1-3 Year 5.00 Blmbg. U.S. Aggregate Index 27.50 JPM EMBI Global Diversified 3.00 NFI-ODCE Equal Weighted 3.00 MSCI Private Capital Global Real Estate 2.00 MSCI Private Capital Global Infrastructure 1.50 MSCI Private Capital Global Private Debt 1.50 10 Page 22 of 29 Illinois Firefighters' Pension Investment Fund Performance Disclosures As of March 31, 2026 Inception Performance Total Fund Composite inception performance is based on an October 1, 2021 start. All other account and composite inception performance is based on an October 31, 2021 start. NFI-ODCE Equal Weighted Quarterly index. Value of the quarterly return is recognized in the last month of each quarter Alternatives Composite The private market composites are valued quarterly. The performance shown is lagged and based on the most recent quarter-end valuation. 11 Page 23 of 29 PREPARED BY MARQUETTE ASSOCIATES 180 North LaSalle St, Ste 3500, Chicago, Illinois 60601 PHONE 312-527-5500 CHICAGO BALTIMORE MILWAUKEE PHILADELPHIA ST. LOUIS WEB MarquetteAssociates.com CONFIDENTIALITY NOTICE: This communication, including attachments, is for the exclusive use of the addressee and contains proprietary, confidential and/or privileged information; any use, copying, disclosure, dissemination or distribution is strictly prohibited. Marquette Associates, Inc. retains all proprietary rights they may have in the information. Marquette Associates, Inc. (“Marquette”) has prepared this document for the exclusive use by the client or third party for which it was prepared. The information herein was obtained from various sources, including but not limited to third party investment managers, the client's custodian(s) accounting statements, commercially available databases, and other economic and financial market data sources. The sources of information used in this document are believed to be reliable. Marquette has not independently verified all of the information in this document and its accuracy cannot be guaranteed. Marquette accepts no liability for any direct or consequential losses arising from its use. The information provided herein is as of the date appearing in this material only and is subject to change without prior notice. Thus, all such information is subject to independent verification, and we urge clients to compare the information set forth in this statement with the statements received directly from the custodian in order to ensure accuracy of all account information. Past performance does not guarantee future results and investing involves risk of loss. No graph, chart, or formula can, in and of itself, be used to determine which securities or investments to buy or sell. Account and Composite characteristics data is derived from underlying holdings uploaded to the Investment Metrics Platform (“Platform”); the Platform then uses data for the noted time period from Standard & Poor’s (equity holdings) and ICE (fixed income holdings) to populate the reporting templates. Some securities, including cash equivalents, may not be accurately classified during this population process due to missing identifiers or unavailable data. As a result, characteristics in this report may differ from other data sources. For example, Bloomberg indices may include additional rating information which may differ from the S&P rating used by the Platform. 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For more information, please visit www.MarquetteAssociates.com. 12 Page 24 of 29  Board of Trustees of the Fire Pension Fund 5/4/2026 Item: Applications for Membership - FF Ryan Loy and FF John Holland, hired on February 23, 2026, also FF Alec Castillo hired on April 27, 2026 Department: Fire Item Description: ATTACHMENTS: None Page 25 of 29  Board of Trustees of the Fire Pension Fund 5/4/2026 Item: Death of Charlynn Collignon on March 15, 2026 (spouse of deceased FF Gerald Collignon) - Cessation of Benefits Department: Fire Item Description: ATTACHMENTS: None Page 26 of 29  Board of Trustees of the Fire Pension Fund 5/4/2026 Item: Application for Retirement Pension - FF/P Darla Pitts as of February 23, 2026 Department: Fire Item Description: ATTACHMENTS: None Page 27 of 29  Board of Trustees of the Fire Pension Fund 5/4/2026 Item: Application for Retirement Pension - FF/P David Ruszkowski as of April 6, 2026 Department: Fire Item Description: ATTACHMENTS: None Page 28 of 29  Board of Trustees of the Fire Pension Fund 5/4/2026 Item: Release of Closed Executive Session Minutes Department: Fire Item Description: ATTACHMENTS: None Page 29 of 29