Anchorage Capital Europe CLO 13 DAC: 15 January 2026

The assets securing the Notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Anchorage CLO ECM LLC.

At least 90% of the portfolio must consist of Senior Secured Obligations and up to 10% of the portfolio may consist of Senior Unsecured Obligations.

The deal includes a non-call period ending 13 July 2027 and a reinvestment period until 15 July 2030. The portfolio is expected to be 90% ramped as of the Closing Date.

The Notes (other than the Retention Notes and other Subordinated Notes that are being sold directly by the Issuer to Anchorage CLO ECM LLC (the Retention Holder) and to an affiliate of the Retention Holder, respectively, on the Issue Date) are being offered by the Issuer through Citigroup Global Markets Limited in its capacity as Sole Arranger and placement agent of the offering of such Notes.

EU & UK Risk Retention: On the Issue Date, the Retention Holder (Anchorage CLO ECM LLC) will hold, on an ongoing basis, a material net economic interest in the transaction of not less than 5% of the nominal value of the securitised exposures.

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