Newstar Arlington Senior Loan Program (Refinance): 02 May 2018

The Class X Senior Secured Floating Rate Notes Due 2031, the Class A-R Senior Secured Floating Rate Notes Due 2031, the Class B-R Senior Secured Floating Rate Notes Due 2031, the Class C-1-R Secured Deferrable Floating Rate Notes Due 2031, the Class C-2-R Secured Deferrable Fixed Rate Notes due 2031, the Class D-R Secured Deferrable Floating Rate Notes Due 2031, the Class E-R Secured Deferrable Floating Rate Notes Due 2031, and the Class F-R Secured Deferrable Floating Rate Notes Due 2031 have been issued by the Issuer in connection with a Refinancing of the Class A-1 Notes, the Class A-2 Notes, the Class B-1 Notes, the Class B-2 Notes, the Class C-2 Notes, the Class D Notes, the Class E Notes, and the Class F Notes issued by the Issuer as of 26 June 2014. On the Closing Date the Issuer issued Subordinated Notes, but the Subordinated Notes will not be redeemed on the Refinancing Date.

The Refinancing Notes were issued pursuant to the Original Indenture, as of 21 February 2017 (the “First Supplemental Indenture”) and as further amended by a second supplemental indenture executed on 25 April 2018 (the “Refinancing Date”).