Sound Point Euro CLO I Funding (Refinance): 26 May 2021

The assets securing the Debt will consist primarily of a portfolio of Senior Loans, Senior Secured Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by Sound Point CLO C-MOA, LLC.

On 8 May 2019 (the Original Issue Date) Sound Point Euro CLO issued Class X Senior Secured Floating Rate Notes due 2032, Class A Senior Secured Floating Rate Notes due 2032, Class B-1 Senior Secured Floating Rate Notes due 2032, Class B-2 Senior Secured Fixed Rate Notes due 2032, Class B-3 Senior Secured Floating Rate Notes due 2032, Class C-1 Senior Secured Deferrable Floating Rate Notes due 2032, Class C-2 Senior Secured Deferrable Fixed Rate Notes due 2032, Class C-3 Senior Secured Deferrable Secured Fixed/Floating Notes due 2032, Class D Senior Secured Deferrable Floating Rate Notes due 2032, Class E Senior Secured Deferrable Floating Rate Notes due 2032, Class F Senior Secured Deferrable Floating Rate Notes 2032 and Subordinated Notes due 2032.

On 25 May 2021 (the re-Issue Date) the Issuer will, subject to certain conditions, refinance the Notes by issuing Class X-R Senior Secured Floating Rate Notes due 2034, Class A-R Senior Secured Floating Rate Notes due 2034, Class B-1-R Senior Secured Floating Rate Notes due 2034, Class B-2-R Senior Secured Fixed Rate Notes due 2034, Class C-R Senior Secured Deferrable Floating Rate Notes due 2034, Class D-R Senior Secured Deferrable Floating Rate Notes due 2034, Class E-R Senior Secured Deferrable Floating Rate Notes due 2034 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2034. In addition, on the Issue Date, the Issuer will enter into a loan agreement pursuant to which the Class A Lender will make available to the Issuer a facility in the amount of €159.6mln. The Class A Loan will be fully drawn on the Issue Date.

Note: The Subordinated Notes were issued on the Original Issue Date and are not being offered pursuant to the Offering Circular.

The Offered Notes are being offered on the Issue Date by the Issuer through Citigroup Global Markets Limited in its capacity as placement agent of the offering of such Offered Notes subject to prior sale.

EU Risk Retention: SP CMOA in its separate capacity as Retention Holder will, in accordance with the Retention Requirements in force as at the Issue Date, undertake to hold and retain on an ongoing basis for so long as any Class of Debt remains outstanding Subordinated Notes with a Principal Amount Outstanding equal to not less than 5% of the Aggregate Collateral Balance, pursuant to paragraph 3(d) of Article 6 of the Securitisation Regulations.

US Risk Retention: Based on the LSTA Decision, no party involved in the transaction will retain any Debt intended to satisfy the U.S. Risk Retention Rules.