Carlyle Euro CLO 2025-1 DAC (Refinance): 18 August 2026

The assets securing the Notes will consist primarily of a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds, managed by Carlyle CLO Management Europe LLC.

On 10 July 2025 (the Original Issue Date) Carlyle Euro CLO 2025-1 DAC issued Class A-1 Senior Secured Floating Rate Notes due 2038, Class A-2 Senior Secured Floating Rate Notes due 2038, Class B Senior Secured Deferrable Floating Rate Notes due 2038, Class C Senior Secured Deferrable Floating Rate Notes due 2038, Class D Senior Secured Deferrable Floating Rate Notes due 2038 and Class E Senior Secured Deferrable Floating Rate Notes due 2038.

On 17 August 2026 (the Issue Date) Carlyle Euro CLO 2025-1 DAC will refinance the Refinanced Notes by issuing Class X Senior Secured Floating Rate Notes due 2039, Class A-1-R Senior Secured Floating Rate Notes due 2039, Class A-2-R Senior Secured Floating Rate Notes due 2039, Class B-R Senior Secured Deferrable Floating Rate Notes due 2039, Class C-R Senior Secured Deferrable Floating Rate Notes due 2039, Class D-R Senior Secured Deferrable Floating Rate Notes due 2039 and Class E-R Senior Secured Deferrable Floating Rate Notes due 2039.

The Offered Notes are being offered by the Issuer through Morgan Stanley & Co International plc in its capacity as initial purchaser of such Offered Notes.