Henley CLO X DAC (Refinance) : 04 June 2026

The assets securing the Notes will consist primarily of a portfolio of Senior Loans, Senior Secured Bonds, Mezzanine Obligations and High Yield Bonds, managed by Napier Park Global Capital Ltd.

On 30 May 2024 (the Original Issue Date) the Issuer issued Class A Senior Secured Floating Rate Notes due 2037, Class B Senior Secured Floating Rate Notes due 2037, Class C Senior Secured Deferrable Floating Rate Notes due 2037, Class D Senior Secured Deferrable Floating Rate Notes due 2037, Class E Senior Secured Deferrable Floating Rate Notes due 2037, Class F Senior Secured Deferrable Floating Rate Notes due 2037 and Subordinated Notes due 2037.

On 2 June 2026 (the Re-issue Date) the Issuer will issue Class A-R Senior Secured Floating Rate Notes due 2040, Class B-R Senior Secured Floating Rate Notes due 2040, Class C-R Senior Secured Deferrable Floating Rate Notes due 2040, Class D-R Senior Secured Deferrable Floating Rate Notes due 2040, Class E-R Senior Secured Deferrable Floating Rate Notes due 2040 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2040.

The Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €36,200,000 and are not being offered pursuant to this Offering.

The Refinancing Notes will be offered by the Issuer through Deutsche Bank Securities Inc in its capacity as placement agent of the offering of such Refinancing Notes.