Company: PDCC
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001398344-25-005419
Chunk: 49

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-03-11
Form: N-CSR
Chunk 49
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 to permit the Fund, Adviser and certain of their affiliates to participate in certain negotiated co-investments
alongside other accounts managed by the Adviser, or certain of its affiliates, subject to certain conditions.

(a)(3) Compensation

The portfolio managers are paid out of the total revenues
of the Adviser and certain of its affiliates, including the advisory fees earned with respect to providing advisory services to us. Professional
compensation at the Adviser is structured so that key professionals benefit from strong investment performance generated on the accounts
that the Adviser and such affiliates manage and from their longevity with the Adviser. Each member of the Investment Team has indirect
equity ownership interests in the Adviser and related long-term incentives. Members of the Investment Team also receive a fixed base salary
and an annual market and performance-based cash bonus. The bonus is based on both quantitative and qualitative analysis of several factors,
including the profitability of the Adviser and the contribution of the individual employee. Many of the factors considered by management
in reaching its compensation determinations will be impacted by our long-term performance and the value of our assets as well as the portfolios
managed for the Adviser’s and such affiliates’ other clients. (a)(4) Ownership of Securities

The following table shows the dollar range of shares
of the Fund owned by each team member as of December 31, 2024, including investments by their immediate family members and amounts invested
through retirement and deferred compensation plans.

Ownership:

| Portfolio Managers     | Dollar Range of the Fund’s Securities Owned by the Portfolio Managers |
| Indranil Basu          | Over $1,000,000                                                       |
| Chandrajit Chakraborty | Over $1,000,000                                                       |
| Matthew Layton         | None                                                                  |
| Kerrill Gaffney        | None                                                                  |
| Michael Brown          | None                                                                  |
| Patrick Chan           | None                                                                  |

| (b) | None. |

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

No purchases were made during the Reporting Period by or on behalf of the
Registrant or any “affiliated purchaser,” as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934 (the “Exchange
Act”) (17 CFR 240.10b-18(a)(3)), of shares or other units of any class of the Registrant’s equity securities that is registered
by the Registr