Penta CLO 3 (2nd Refinance): 26 February 2025

The assets securing the Notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Partners Group (UK) Management Ltd.

On 16 November 2017 (the Original Issue Date) the Issuer issued Class A Senior Secured Floating Rate Notes due 2030, Class B Senior Secured Floating Rate Notes due 2030, Class C Senior Secured Deferrable Floating Rate Notes due 2030, Class D Senior Secured Deferrable Floating Rate Notes due 2030, Class E Senior Secured Deferrable Floating Rate Notes due 2030, Class F Senior Secured Deferrable Floating Rate Notes due 2030 and Subordinated Notes due 2030.

On 23 March 2022 (the First Refinancing Issue Date) the Issuer refinanced the Original Rated Notes by issuing Class X-R Senior Secured Floating Rate Notes due 2035, Class A-R Senior Secured Floating Rate Notes due 2035, Class B-R Senior Secured Floating Rate Notes due 2035, Class C-R Senior Secured Deferrable Floating Rate Notes due 2035, Class D-R Senior Secured Deferrable Floating Rate Notes due 2035, Class E-R Senior Secured Deferrable Floating Rate Notes due 2035 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2035. On this First Refinancing Issue Date, the Issuer also made certain amendments to the Original Subordinated Notes and issued additional €12,450,000 Subordinated Notes due 2035.

On or about 18 February 2025 (the re-issue Date) the Issuer will, subject to the satisfaction of certain conditions, redeem the Refinanced Notes by issuing Class X-R-R Senior Secured Floating Rate Notes due 2038, Class A-1-R-R Senior Secured Floating Rate Notes due 2038, Class A-2-R-R Senior Secured Floating Rate Notes due 2038, Class B-R-R Senior Secured Floating Rate Notes due 2038, Class C-R-R Senior Secured Deferrable Floating Rate Notes due 2038, Class D-R-R Senior Secured Deferrable Floating Rate Notes due 2038, Class E-R-R Senior Secured Deferrable Floating Rate Notes due 2038 and Class F-R-R Senior Secured Deferrable Floating Rate Notes due 2038.

The Subordinated Notes were issued on the Original Issue Date or the First Refinancing Issue Date and are not being offered pursuant to this Offering.