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Cairn CLO X B.V.: 27 October 2018

The assets securing the notes will consist of a portfolio of primarily senior loans, senior secured bonds, mezzanine obligations and high yield bonds, and will be managed by Cairn Loan Investments LLP.

The notes are being offered by the issuer through Barclays Bank PLC in its capacity as initial purchaser of the offering of such notes.

EU Risk Retention: The investment manager shall act as Retention Holder for the purposes of the EU Retention Requirements as a “sponsor”. It will undertake to subscribe for and retain, on an ongoing basis for as long as a class of notes remains outstanding, Class M-1 notes with a principal amount outstanding equal to not less than 5% of the aggregate collateral balance.