Victory Street CLO I DAC (Refinance): 15 August 2026

The assets securing the Notes will consist primarily of a portfolio of Senior Secured Loans, Senior Secured Bonds, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, managed by CIC Private Debt SAS.

On 17 December 2024 (the Original Issue Date) Victory Street CLO I DAC issued Class A-R Senior Secured Delayed Draw Notes due 2038, Class A Senior Secured Floating Rate Notes due 2038, Class B Senior Secured 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, Class E Senior Secured Deferrable Floating Rate Notes due 2038, Class F Senior Secured Deferrable Floating Rate Notes due 2038 and Subordinated Notes due 2038.

On or about 14 August 2026 (the Issue Date) the Issuer will, subject to the satisfaction of certain conditions, refinance in whole the Original Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2039, Class B-R Senior Secured 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, Class E-R Senior Secured Deferrable Floating Rate Notes due 2039, Class F-R Senior Secured Deferrable Floating Rate Notes due 2039 and Additional Subordinated Notes due 2039.

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

The Notes are being offered by the Issuer through Morgan Stanley Europe SE in its capacity as arranger and initial purchaser of such Notes subject to prior sale and to certain conditions. Crédit Industriel et Commercial SA will act as co-lead manager.