BBAM European CLO IV DAC (Refinance): 19 September 2025

The assets securing the Notes will consist of a portfolio of primarily Senior Loans, Senior Secured Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by BlueBay Asset Management LLP.
On 26 March 2024, BBAM European CLO IV DAC issued Class X Notes due 2038, Class A Notes due 2038, Class B-1 Notes due 2038, Class B-2 Notes due 2038, Class C Notes due 2038, Class D Notes due 2038, Class E Notes due 2038, Class F Notes due 2038 and Subordinated Notes originally due 2038.
On 16 September 2025 the Issuer will refinance and issue Class A-R Senior Notes due 2038, Class B-R Notes due 2038, Class C-R Notes due 2038, Class D-R Notes due 2038, Class E-R Notes due 2038, Class F-R Notes due 2038 and Subordinated Notes due 2038.
The Existing Subordinated Notes issued on the Original Issue Date are not being offered pursuant to this Offering.
The Notes are being offered by the Issuer through Morgan Stanley & Co. International plc in its capacity as arranger and initial purchaser of the offering of such Notes subject to prior sale.

EU Risk Retention: The Collateral Manager, in its separate capacity as Retention Holder, will (i) undertake to subscribe for and retain on the Issue Date (and each subsequent date of additional issuance of Notes) and hold on an ongoing basis and for its own account a material net economic interest of not less than 5% of the nominal value of each Class of Offered Notes; and (ii) continue to retain the Subordinated Notes which it acquired on the Original Issue Date for its own account, comprising a material net economic interest of not less than 5% of the nominal value of the Subordinated Notes.

US Risk Retention: With reference to the LSTA Decision, it should be assumed that no party involved in the transaction will obtain on the Issue Date and retain any Notes intended to satisfy the U.S. Risk Retention Rules.