Penta CLO 15 DAC (Re-finance): 01 December 2025

The assets securing the Debt will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Partners Group CLO Advisers LP.

On 20 December 2023 (the Original Issue Date) the Issuer issued Class A Senior Secured Floating Rate Notes due 2037, Class B Senior Secured Floating Rate Notes due 2037, Class C Senior Secured Deferrable Floating Rate Notes due 2037, Class D Senior Secured Deferrable Floating Rate Notes due 2037, Class E Senior Secured Deferrable Floating Rate Notes due 2037, Class F Senior Secured Deferrable Floating Rate Notes due 2037 and Subordinated Notes due 2037.

On or about 28 November 2025 (the Re-issue Date) the Issuer will, subject to the satisfaction of certain conditions, redeem or repay the rated Debt 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, Class Z Notes due 2038 and Subordinated Notes due 2038.

The Existing Subordinated Notes were issued on the Original Issue Date and are not being offered pursuant to this Offering. The Additional Subordinated Notes and the Existing Subordinated Notes shall form a single class of Subordinated Notes.