Arbour CLO V DAC (Refinance): 19 June 2025

The assets securing the Notes will consist of a portfolio of primarily Senior Loans, Secured Senior Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by Oaktree Capital Management (UK) LLP.

On 3 August 2018 (the Original Issue Date) Arbour CLO V DAC issued Class X Senior Secured Floating Rate Notes due 2031, Class A Senior Secured Floating Rate Notes due 2031, Class B-1 Senior Secured Fixed Rate Notes due 2031, Class B-2 Senior Secured Floating Rate Notes due 2031, Class C Senior Secured Deferrable Floating Rate Notes due 2031, Class D Senior Secured Deferrable Floating Rate Notes due 2031, Class E Senior Secured Deferrable Floating Rate Notes due 2031, Class F Senior Secured Deferrable Floating Rate Notes due 2031 and Subordinated Notes due 2031.

On or about 2 July 2025 (the re-issue Date) the Issuer will, subject to the satisfaction of certain conditions, refinance the Original Rated Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2038, Class B-R Senior Secured Floating Rate Notes due 2038, Class C-R Senior Secured Deferrable Floating Rate Notes due 2038, Class D-R Senior Secured Deferrable Floating Rate Notes due 2038, Class E-R Senior Secured Deferrable Floating Rate Notes due 2038, Class F-R Senior Secured Deferrable Floating Rate Notes due 2038 and Additional Subordinated Notes due 2038.

The Existing Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €39,100,000 and are not being offered pursuant to this Offering. The Additional Subordinated Notes being offered pursuant to this Offering and the Existing Subordinated Notes issued on the Original Issue Date shall form a single class of Subordinated Notes.