Fidelity Grand Harbour CLO 2025-1 DAC: 08 September 2025

The assets securing the Debt will consist primarily of a portfolio of Senior Secured Loans, Senior Secured Bonds, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by FMR Investment Management (UK) Limited.

On 3 September 2025 (the Issue Date) the Issuer will, subject to certain conditions, issue 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 due 2038.

Eligibility criteria (includes): it is a Senior Secured Loan, a Senior Secured Bond, an Unsecured Senior Loan, a Mezzanine Obligation, a Second Lien Loan, a Corporate Rescue Loan, or a High Yield Bond; it is not a Zero Coupon Security; it is an obligation in respect of which the Obligor (or the guarantor of such obligation) is Domiciled in a Qualifying Country, as determined by the Collateral Manager; it is not a Project Finance Loan; it is not a Step-Down Coupon Security; other than in the case of a Corporate Rescue Loan (which shall have a rating as determined by the definition of “Fitch Rating” and “S&P Rating” as applicable) it is an obligation which has (i) a Fitch Rating of “CCC-” or higher and (ii) a S&P Rating of not lower than “CCC-”; it is, to the best of the Collateral Manager’s knowledge, an ESG Compliant Obligation; it is an Eligible Interest Rate Obligation.

The Issuer anticipates that, by the Issue Date, it or the Collateral Manager on its behalf will have purchased or committed to purchase Collateral Debt Obligations the Aggregate Principal Balance of which is equal to at least €395,000,000, which is approximately 98.75 per cent of the Target Par Amount.

The Notes (other than the Retention Notes and any Notes to be purchased by the Retention Holder directly from the Issuer on the Issue Date) are being offered by the Issuer through BofA Securities in its capacity as placement agent of the offering of such Notes, subject to prior sale.

EU & UK Risk Retention: Fidelity CLO Advisers LP (the Retention Holder) will undertake that it will subscribe for and retain the Retention Notes in connection with the EU/UK Retention Requirements.

US Risk Retention: The Retention Holder intends to rely on the “Safe harbor for certain foreign-related transactions” contained in the US Risk Retention Rules.