Company: PDCC
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001398344-25-005419
Chunk: 35

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-03-11
Form: N-CSR
Chunk 35
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We have established an automatic dividend reinvestment
plan, or “DRIP.” Each registered holder of at least one full share of our common stock will be automatically enrolled in the
DRIP. Under the DRIP, distributions on shares of our common stock are automatically reinvested in additional shares of our common stock
by SS&C GIDS, Inc., or the “DRIP Administrator,” unless a common stockholder opts out of the DRIP. Holders of our common
stock who receive distributions in the form of additional shares of our common stock are nonetheless required to pay applicable federal,
state, and local taxes on the reinvested distribution but will not receive a corresponding cash distribution with which to pay any applicable
tax. Holders of shares of our common stock who opt-out of participation in the DRIP (including those holders whose shares are held through
a broker or other nominee who has opted out of participation in the DRIP) generally will receive all distributions in cash.

We expect to use primarily newly issued shares to
implement the plan, whether our shares are trading at a premium or at a discount to NAV. Under such circumstances, the number of shares
to be credited to each participant is determined by dividing the aggregate dollar amount of the distribution by 95% of the closing market
price per share on the payment date, provided that if 95% of the closing market price per share on the payment date is below our last
determined NAV per share, then the number of shares to be credited to each participant’s account pursuant to the DRIP will be determined
by dividing the aggregate dollar amount of the distribution by the lesser of (i) our last determined NAV per share and (ii) the closing
market price per share. The market price per share on that date will be the closing price for such shares on the NYSE or, if no sale is
reported for such day, at the average of their electronically reported bid and asked prices. We reserve the right to purchase shares in
the open market in connection with our implementation of the DRIP. Shares purchased in open market transactions by the DRIP Administrator
will be allocated to a common stockholder based on the average purchase price, excluding any brokerage charges or other charges, of all
shares of common stock purchased in the open market. The number of shares of our common stock to be outstanding after giving effect to
payment of the distribution cannot be established until the value per share at which additional shares will be issued has been determined
and elections of