Canyon Euro CLO 2026-1 DAC: 20 June 2026

The assets securing the Debt will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Canyon CLO Advisors LP.

Canyon Euro CLO 2026-1 DAC will issue Class A Notes, Class B Notes, Class C Notes, Class D Notes, Class E Notes, Class F Notes, Class Z Notes and Subordinated Notes.

The amount comprised in the Class A Notes is prior to any conversion of the Class A-1 Loan. Upon each conversion of the Class A-1 Loan (or any portion thereof) the Principal Amount Outstanding of the Class A-1 Loan shall be reduced and the Principal Amount Outstanding of the Class A Notes shall be increased in equal amount. In order to provide for such conversion of the Class A-1 Loan (or any portion thereof), the application made to Euronext Dublin in relation to the listing of the Class A Notes will be in a principal amount outstanding “up to €198,000,000” to allow for a future conversion of a Class A-1 Loan (in whole or in part) into Class A Notes. The Class A-2 Loan Agreement prohibits the Class A-2 Loan (or any portion thereof) advanced thereunder from being converted into Notes of any Class. The Class A Loans will not be listed.

The Issuer will issue Class Z Notes on the Issue Date. The holders of the Class Z Notes will be entitled to receive on each Payment Date certain amounts in accordance with the Priorities of Payments.

The Notes (other than the Class F Notes and the Retention Notes) are being offered by the Issuer through BNP Paribas or an affiliate thereof, in its capacity as arranger and initial purchaser of the offering of such Notes.