Penta CLO 21 DAC: 20 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 Partners Group CLO Advisers LP.

Penta CLO 21 DAC will issue Class A Senior Secured Floating Rate Notes due 2039, Class B Senior Secured Floating Rate Notes due 2039, Class C Senior Secured Deferrable Floating Rate Notes due 2039, Class D Senior Secured Deferrable Floating Rate Notes due 2039, Class E Senior Secured Deferrable Floating Rate Notes due 2039, Class F Senior Secured Deferrable Floating Rate Notes due 2039, Class Z Notes due 2039 and Subordinated Notes due 2039.

The Issuer anticipates that, by the Issue Date, it will have purchased or committed to purchase Collateral Obligations the Aggregate Principal Balance of which is equal to at least €375mln, which is approximately 94.00% of the Target Par Amount.

EU Risk Retention: The Retention Holder (Partners Group (UK) Management Ltd) will agree to acquire on the Issue Date and hold on an ongoing basis, for so long as any Class of Notes remains outstanding, a material net economic interest in the transaction which will be comprised of not less than 5% of the Principal Amount Outstanding of each tranche of Notes in accordance with (i) Article 6(3)(a) of the EU Retention Requirements and (ii) SECN 5.2.8R(1)(a) for the purposes of complying with the Retention Requirements as they apply on the Issue Date.

US Risk Retention: Each of the Collateral Manager and the Originator does not intend to purchase or retain Debt for the purposes of satisfying the US Risk Retention Rules and, instead, each of the Collateral Manager and the Originator intends to use the “Safe harbor for certain foreign related transactions” contained in Section __.20 of the US Risk Retention Rules.