Sculptor European CLO XI (Refinance): 19 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 Sculptor Europe Loan Management Limited.

On 30 April 2024 (the Original Issue Date) Sculptor European CLO XI DAC issued Class A Senior Secured Floating Rate Notes due 2036, Class B-1 Senior Secured Floating Rate Notes due 2036, Class B-2 Senior Secured Fixed Rate Notes due 2036, Class C Senior Secured Deferrable Floating Rate Notes due 2036, Class D Senior Secured Deferrable Floating Rate Notes due 2036, Class E Senior Secured Deferrable Floating Rate Notes due 2036, Class F Senior Secured Deferrable Floating Rate Notes due 2036 and Subordinated Notes due 2036.

The Issuer will, subject to certain conditions, refinance the Rated Notes on or about 18 December 2025 by issuing Class X-R Senior Secured Floating Rate Notes due 2038, 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 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 being offered pursuant to this offering and the Existing Subordinated Notes shall form a single class of Subordinated Notes.