Palmer Square European CLO 2021-2 (Refinance): 07 November 2025

The assets securing the Notes will consist of a portfolio of primarily Secured Senior Obligations, Unsecured Senior Obligations, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by Palmer Square Europe Capital Management LLC.

On 4 August 2021 (the Original Issue Date) Palmer Square European CLO 2021-2 issued Class A-1 Senior Secured Floating Rate Notes due 2035, Class A-2 Senior Secured Floating Rate Notes due 2035, Class B-1 Senior Secured Floating Rate Notes due 2035, Class B-2 Senior Secured Fixed Rate Notes due 2035, Class C Senior Secured Deferrable Floating Rate Notes due 2035, Class D Senior Secured Deferrable Floating Rate Notes due 2035, Class E Senior Secured Deferrable Floating Rate Notes due 2035 and Subordinated Notes due 2035.

On 5 November 2025 (the Re-issue Date) the Issuer will, subject to certain conditions, refinance in whole each Class of 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, Class F-R Senior Secured Deferrable Floating Rate Notes due 2038 and Additional Subordinated Notes.

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