Dryden 131 Euro CLO DAC: 04 April 2026

The assets securing the Debt will consist primarily of a portfolio of Collateral Debt Obligations consisting at the time of acquisition of predominantly Senior Secured Loans, Senior Secured Bonds, Corporate Rescue Obligations, Unsecured Senior Obligations, Second Lien Loans, Mezzanine Obligations, High Yield Bonds and Loss Mitigation Obligations, and will be managed by both PGIM Loan Originator Manager Limited.

Eligibility criteria (includes): it would be a Senior Secured Loan, a Senior Secured Bond, a Corporate Rescue Obligation, an Unsecured Senior Obligation, a High Yield Bond, a Mezzanine Obligation, a PIK Obligation, a Current Pay Obligation or a Second Lien Loan; it is not a Structured Finance Obligation, Synthetic Security or Letter of Credit or any other asset backed security; it is not a lease; it is not a Zero Coupon Obligation; it is not a Project Finance Loan or a similar debt obligation that contains limited recourse provisions that limit the obligations of the Obligor thereunder to a defined portfolio or pool of assets; it shall have been acquired by the Issuer for a purchase price of not less than 60.0% of the par value thereof.

The Notes are being offered by the Issuer through HSBC Bank plc in its capacities as arranger and placement agent of the offering.

EU & UK Risk Retention: The Collateral Manager (PGIM Loan Originator Manager Limited) shall act as Retention Holder for the purposes of the EU/UK Retention Requirements and shall subscribe for and retain, on an ongoing basis and on its own account, not less than 5% of the nominal value of each Tranche of Debt that is sold or transferred to investors on the Issue Date within the meaning of Article 6(3)(a) of each of the EU/UK Securitisation Regulations.

US Risk Retention: Based on the DC Circuit Ruling, no party currently intends to obtain on the Issue Date and retain after the Issue Date any Notes for the purpose of satisfying the US Risk Retention Rules.