Penta CLO 18 DAC (Refinance): 20 July 2026

The assets securing the Notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds managed by Partners Group CLO Advisers LP.

Penta CLO 18 DAC will issue the Class X Notes, the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes, the Class E Notes, the Class F Notes, the Class Z Notes and the Additional Subordinated Notes.

The Existing Subordinated Notes were issued on the Original Issue Date and are not being offered pursuant to this Offering.

The Offered Notes are being offered by the Issuer through BNP Paribas or an affiliate thereof in its capacity as initial purchaser and arranger of the Offered Notes subject to prior sale, when, as and if delivered to and accepted by the Initial Purchaser and the Arranger, and to certain conditions.