Arbour CLO XII DAC (Refinance): 20 July 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 17 November 2023 (the Original Issue Date) Arbour CLO XII issued Class A Senior Secured Floating Rate Notes due 2038, Class B-1 Senior Secured Floating Rate Notes due 2038, Class B-2 Senior Secured Fixed Rate Notes due 2038, Class C Senior Secured Deferrable Floating Rate Notes due 2038, Class D Senior Secured Deferrable Floating Rate Notes due 2038, Class E Senior Secured Deferrable Floating Rate Notes due 2038, Class F Senior Secured Deferrable Floating Rate Notes due 2038, Class M Notes due 2038 and Subordinated Notes due 2038.

On or about 15 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 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2038.

The Existing Class M Notes were issued on the Original Issue Date and are not being offered pursuant to this Offering. The terms and conditions applicable to the Existing Class M Notes will be amended in accordance with the Conditions as outlined in this Offering, including by an extension of their Maturity Date to 15 July 2038.

The Subordinated Notes were issued on the Original Issue Date and are not being offered pursuant to this Offering. However, the terms and conditions applicable to the Subordinated Notes will be amended in accordance with the Conditions as outlined in this Offering, including by an extension of their Maturity Date to 15 July 2038.