Penta CLO 10 DAC (Refinance): 23 May 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.

On 30 November 2021 (the Original Issue Date) the Issuer issued Class A Senior Secured Floating Rate Notes due 2034, Class B-1 Senior Secured Floating Rate Notes due 2034, Class B-2 Senior Secured Fixed Rate Notes due 2034, Class C Senior Secured Deferrable Floating Rate Notes due 2034, Class D Senior Secured Deferrable Floating Rate Notes due 2034, Class E Senior Secured Deferrable Floating Rate Notes due 2034 and Class F Senior Secured Deferrable Floating Rate Notes due 2034, and also issued Subordinated Notes due 2034.

On or about 20 May 2026 (the Re-issue Date) the Issuer will, subject to the satisfaction of certain conditions, redeem the Rated Notes by issuing Class X-R Senior Secured Floating Rate Notes due 2040, 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, Class F-R Senior Secured Deferrable Floating Rate Notes due 2040, Class Z Notes due 2040 and additional Subordinated Notes due 2040.

The Additional Subordinated Notes being offered pursuant to this Offering and the Existing Subordinated Notes shall form a single class of Subordinated Notes.

The Offered Notes are being offered by the Issuer through Jefferies International Limited in its capacity as a co placement agent of the Offered Notes and NatWest Markets NV in its capacity as a co-placement agent in respect of a portion of the Class A Notes to be purchased by NatWest or an affiliate of NatWest only.