Material Event Form 8 K

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Seventh Amended and Restated Limited Liability Company Operating Agreement

On September 24, 2024, the board of directors (the "Board") approved the Seventh Amended and Restated Limited Liability Company Operating Agreement (the "LLC Agreement") to, among others, include certain requested changes from a state securities administrator clarifying the fiduciary responsibility of CNL Strategic Capital, LLC's ( the Company) sponsor and the prohibition on the exclusive right of a manager to sell assets for the Company. The foregoing summary of the terms of the LLC Agreement does not purport to be complete and is qualified in its entirety by reference to the LLC Agreement, a copy of which is attached hereto as Exhibit 3.1 and incorporated herein by reference.