Amendment 02_Attach B.1_ Calculation Item G.xlsx

This is a calculation template for a Rolling 36-Month Information Ratio (IR) metric designed to measure portfolio performance relative to a benchmark. The spreadsheet contains formulas to calculate monthly excess returns, 36-month annualized excess returns, tracking error (standard deviation of excess returns), and the resulting Information Ratio by comparing a Portfolio column (A) against a Benchmark column (B). The template uses geometric excess return calculations across a rolling 36-month period and annualizes tracking error by multiplying the standard deviation of monthly excess returns by the square root of 12. The table is structured with monthly period-end dates ranging from October 2015 through September 2025, with all data fields currently populated with zeros and producing #DIV/0! errors, indicating the template is awaiting actual performance data input.

This document is Attachment B.1 associated with Amendment 02 to the Pension Benefit Guaranty Corporation's RFP 16PBGC26R0001 for Real Estate Investment Trust (REIT) Management Services. Per Amendment 02 issued February 17, 2026, this calculation template was incorporated as a required Phase 1 submission component, with the Phase 1 due date extended to February 25, 2026 at 11:00 a.m. EST. The template serves as a standardized calculation tool for contractors to demonstrate their ability to compute and track Information Ratio performance metrics, a key evaluation criterion for REIT management service providers responding to this solicitation.