Company: PDCC
Filing Date: 2025-07-18
Form Type: N-2
Source: 0001214659-25-010613
Chunk: 36

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-07-18
Form: N-2
Chunk 36
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 common stock for the time periods indicated, assuming (1) total annual expenses of 4.85% of net assets attributable
to the Company’s common stock and (2) a 5% annual return.*

|                                                                                          |     |   | 1 year |     |   | 3 years |     |   | 5 years |     |   | 10 years |
|:-----------------------------------------------------------------------------------------|:----|:--|-------:|:----|:--|--------:|:----|:--|--------:|:----|:--|---------:|
| You would pay the following expenses on a $1,000 investment, assuming a 5% annual return |     | $ |     49 |     | $ |     153 |     | $ |     268 |     | $ |      610 |

| * | The example should not be considered a representation of future returns or expenses, and actual returns                                   
 and expenses may be greater or less than those shown. The example assumes that the estimated “other expenses” set forth in                
 the Annual Expenses table are accurate, and that all dividends and distributions are reinvested at NAV. In addition, because the example  
 assumes a 5% annual return, the example does not reflect the payment of the incentive fee which would either not be payable or would have 
 an insignificant impact on the expense amounts shown above. Our actual rate of return may be greater or less than the hypothetical 5%     
 return shown in the example.                                                                                                              |

| 22 |

<div align='center'>Other Expenses</div>

The Adviser’s investment team, when and
to the extent engaged in providing investment advisory and management services, and the compensation and routine overhead expenses of
such personnel allocable to such services, are provided and paid for by the Adviser. We will bear all other costs and expenses of our
operations and transactions, including:

| • | the cost of calculating our NAV (including the costs and expenses of any independent valuation firm or 
 pricing service);                                                                                      |

| • | interest payable on debt, if any, incurred to finance our investments; |

| • | fees and expenses, including legal fees and expenses and travel expenses, incurred by the Adviser or payable                                 
 to third parties in performing due diligence on prospective investments, monitoring our investments and, if necessary, enforcing our rights; |

| • | amounts payable to third parties relating to, or associated with, evaluating, making and disposing of 
 investments