Apna Park CLO DAC: 01 December 2025

The assets securing the Notes will consist primarily of a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Blackstone Ireland Limited.

On 28 November 2025 (the Issue Date) the Issuer will, subject to certain conditions, issue Class A Senior Secured Floating Rate Notes due 2038, Class B Senior Secured Floating Rate Notes due 2038, Class C Senior Secured Deferrable Floating Rate Notes due 2038, Class D Senior Secured Deferrable Floating Rate Notes due 2038, Class E Senior Secured Deferrable Floating Rate Notes due 2038, Class F Senior Secured Deferrable Floating Rate Notes due 2038 and Subordinated Notes due 2038.

Eligibility criteria (includes): other than in the case of a Current Pay Obligation, Corporate Rescue Loan, any Received Obligation received as part of a Bankruptcy Exchange or an obligation which is Uptier Priming Debt, it is not a Defaulted Obligation, a Credit Risk Obligation or Equity Security, including any obligation that by its terms is convertible into an Equity Security (provided it may attach a warrant or option which is an Equity Security); it is not a Structured Finance Security, Letter of Credit or Synthetic Security; it is not a Zero Coupon Security or 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 “S&P Rating” and “Fitch Rating” as applicable), a Current Pay Obligation, any Received Obligation received as part of a Bankruptcy Exchange or an obligation which is Uptier Priming Debt, it is an obligation which has a S&P Rating of “CCC-” or higher and (ii) a Fitch Rating of “CCC-” or higher.

The Notes are being offered by the Issuer through BNP Paribas in its capacity as initial purchaser.

The Issuer anticipates that, by the Issue Date, it will have purchased or committed to purchase Collateral Obligations representing approximately 97% of the Target Par Amount. The estimated net proceeds of the issue of the Notes on or about the Issue Date is expected to be approximately €401,200,000.

UK and EU Risk Retention: Blackstone CLO Management LLC, in its capacity as an “originator” for the purposes of the Retention Requirements as they apply as at the Issue Date, will hold the Retention Notes.

U.S. Risk Retention: Blackstone CLO Management LLC intends to satisfy the US Risk Retention Rules by acquiring and retaining the US Retention Interest.