Company: PDCC
Filing Date: 2025-09-16
Form Type: N-2/A
Source: 0001214659-25-013826
Chunk: 149

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 149
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 time of any distribution believed to include any such amounts.
A return of capital is a distribution to holders of our common stock that is not attributable to our earnings but represents a return
of part of the stockholder’s investment. If our distributions exceed our current and accumulated earnings and profits, such excess
will be treated first as a tax-free return of capital to the extent of the stockholder’s tax basis in our common stock (thus reducing
a stockholders adjusted tax basis in his or her common stock), and thereafter as capital gain assuming our common stock is held as a capital
asset. Upon the sale of shares of our common stock, a stockholder generally will recognize capital gain or loss equal to the difference
between the amount realized on the sale and the stockholder’s adjusted tax basis in our common stock sold.

<div align='center'>DIVIDEND REINVESTMENT PLAN</div>

We have established an automatic 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 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.

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Under the DRIP, whenever the market price of the
shares of common stock is equal to or exceeds net asset value at the time shares of common stock are valued for purposes of determining
the number of shares of common stock equivalent to the cash dividend or capital gains distribution, participants in the DRIP are issued
new shares of common stock from the Company, valued at the greater of (i) the net asset value as most recently determined or (ii) 95%
of the then-current market price of the shares of common stock. The valuation date is the dividend or distribution payment date or, if
that date is not a NYSE trading day, the next preceding trading