Company: PDCC
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001398344-25-005419
Chunk: 40

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-03-11
Form: N-CSR
Chunk 40
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 disclose or report personal
or account information to non-affiliated third parties in limited circumstances where we believe in good faith that disclosure is required
by law, such as in accordance with a court order or at the request of government regulators or law enforcement authorities or to protect
our rights or property. We may also disclose your personal information to a non-affiliated third party at your request or if you consent
in writing to the disclosure.

6. BOARD CONSIDERATION AND APPROVAL OF INVESTMENT ADVISORY AGREEMENT

At a meeting held on May 31, 2024 (the “Meeting”),
the Board of Directors (the “Board” or the “Directors”) of Pearl Diver Credit Company Inc. (the “Company”),
including those Directors who are not “interested persons” of the Company (the “Independent Directors”), as defined
in the Investment Company Act of 1940 (the “1940 Act”), voted to approve the investment advisory agreement (the “Investment
Advisory Agreement”) by and between the Company and Pearl Diver Capital LLP (the “Adviser”) for an initial two-year
period.

Pursuant to Section 15 of the 1940 Act and related
exemptive relief, the Investment Advisory Agreement must be approved by: (i) the vote of the Directors or a vote of the shareholders of
the Company; and (ii) the vote of a majority of the Independent Directors, cast at a meeting called for the purpose of voting on such
approval. In connection with its consideration of such approval, the Board must request and evaluate, and the Adviser is required to furnish,
such information as may be reasonably necessary to evaluate the terms of the Investment Advisory Agreement. In addition, rules under the
1940 Act require an investment company to disclose in its shareholder reports the material factors and conclusions with respect thereto
that formed the basis for the Board’s approval of an investment advisory agreement.

In reaching a decision to approve the Investment Advisory
Agreement, the Board, assisted by the advice of counsel, requested and received a significant amount of information and considered all
the factors the Board believed relevant, including, among other things: (1) the nature, extent and quality of services to be performed
by the Adviser, including the investment performance of other comparable registered investment companies and business development companies
(“BDCs”) and certain other accounts advised by the Adviser; (2) information regarding the expected fees and other expenses