Sculptor European CLO V DAC (2nd Refinance): 03 October 2025

The assets securing the Notes will consist primarily of a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds managed by Sculptor Europe Loan Management Limited (formerly known as Och-Ziff Europe Loan Management Limited).

On 11 December 2018 (the Original Issue Date) Sculptor European CLO V DAC (formerly known as OZLME V DAC) issued 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 C Senior Secured Deferrable Floating Rate 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 due 2032 and Subordinated Notes due 2032.

On 18 November 2021 (the 2021 Refinancing Date) the Issuer refinanced the Original Class A Notes, the Original Class B-2 Notes, the Original Class C Notes and the Original Class D Notes by issuing Class A Senior Secured Floating Rate Notes due 2032, Class B-2 Senior Secured Floating Rate Notes due 2032, Class C Senior Secured Deferrable Floating Rate Notes due 2032 and Class D Senior Secured Deferrable Floating Rate Notes due 2032. These, together with the Original Class B-1 Notes, the Original Class E Notes and the Original Class F Notes, make up the Refinanced Notes.

The Issuer will, subject to certain conditions, refinance the Refinanced Notes on or about 30 September 2025 by issuing Class A-R Senior Secured Floating Rate Notes due 2039, Class B-R Senior Secured Floating Rate Notes due 2039, Class C-R Senior Secured Deferrable Floating Rate Notes due 2039, Class D-R Senior Secured Deferrable Floating Rate Notes due 2039, Class E-R Senior Secured Deferrable Floating Rate Notes due 2039, Class F-R Senior Secured Deferrable Floating Rate Notes due 2039 and Additional Subordinated Notes due 2039.

The Existing Subordinated Notes were issued on the Original Issue Date and are not being offered pursuant to this Offering.

The Offered Notes are being offered by the Issuer through Jefferies International Limited in its capacity as placement agent.

Sculptor Europe Loan Management Limited shall act as Retention Holder for the purposes of the Retention Requirements.

EU Risk Retention: The Retention Holder will undertake to subscribe for and hold, on an ongoing basis for so long as any Class of Notes remains outstanding, a material net economic interest of not less than 5% of the nominal value of each of the tranches of the Offered Notes sold or transferred to investors pursuant to Article 6(3)(a) of the Securitisation Regulations, as in force at the Issue Date.

US Risk Retention: No party involved in the transaction will obtain on the Issue Date and retain any Notes intended to satisfy the US Risk Retention Rules.