Cairn CLO IV B.V. (2nd Refinancing): 02 May 2019

On or about 22 April 2019 (the Second Refinancing Date) the Issuer will, subject to certain conditions, refinance the Class A-1-R Notes, the Class A-2-R Notes, the Class B-R Notes and the Class C-R Notes (collectively, the "Refinanced Notes") by issuing Class A-1-RR Senior Secured Floating Rate Notes due 2029, Class A-2RR Senior Secured Floating Rate Notes due 2029, Class B-RR Senior Secured Deferrable Floating Rate Notes due 2029 and Class C-RR Senior Secured Deferrable Floating Rate Notes due 2029.

On the Original Issue Date, the Issuer issued Class A-1 Senior Secured Floating Rate Notes due 2028, Class A-2 Senior Secured Fixed Rate Notes due 2028, Class B-1 Senior Secured Floating Rate Notes due 2028, Class B-2 Senior Secured Fixed Rate Notes due 2028, Class C Senior Secured Deferrable Floating Rate Notes due 2028, Class D Senior Secured Deferrable Floating Rate Notes due 2028, Class E Deferrable Junior Floating Rate Notes due 2028, Class F Senior Secured Deferrable Floating Rate Notes due 2028 and Subordinated Notes due 2028.

On 28 April 2017 (the 2017 Refinancing Date), the Issuer refinanced the Original Notes by issuing new Class A-1 Senior Secured Floating Rate Notes due 2028, new Class A-2 Senior Secured Fixed Rate Notes due 2028, new Class B-1 Senior Secured Floating Rate Notes due 2028, new Class B-2 Senior Secured Fixed Rate Notes due 2028, new Class C Senior Secured Deferrable Floating Rate Notes due 2028 and new Class D Senior Secured Deferrable Floating Rate Notes due 2028, together with the Original Class E Notes, the Original Class F Notes and the Subordinated Notes.