Company: PDCC
Filing Date: 2025-09-03
Form Type: N-CSRS
Source: 0001398344-25-017467
Chunk: 23

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-03
Form: N-CSRS
Chunk 23
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 becomes effective, and affects the realization
of settlement on individual assets and liabilities, only following a specified event of default or early termination. The following table
presents derivative financial instruments that are subject to enforceable netting arrangements or other similar agreements as of June
30, 2025.

| Security Name                                    |     | Gross Amounts 
 of Recognized 
 Liabilities   |           |     | Gross Amounts   
 Offset in the   
 Statements      
 of Assets       
 and Liabilities |   |     | Net Amounts     
 Offset in the   
 Statements      
 of Assets       
 and Liabilities |           |     | Gross Amounts Not Offset in the 
 Statement of Financial Position 
 Financials                      
 Instruments                     |           |     | Cash Collateral 
 Pledged *       |   |     | Net Amount |   |
|:-------------------------------------------------|:----|:--------------|----------:|:----|:----------------|:--|:----|:----------------|----------:|:----|:--------------------------------|----------:|:----|:----------------|:--|:----|:-----------|:--|
| Reverse Repurchase Agreements (counterparty, GS) |     | $             | 6,962,552 |     | $               | – |     | $               | 6,962,552 |     | $                               | 6,962,552 |     | $               | – |     | $          | – |

| * | The                                                                      
 actual collateral received and/or pledged may be more than amount shown. |

Reverse repurchase agreements involve the risk that
market value of the securities retained in lieu of sale by the Fund may decline below the price of the securities the Fund has sold but
is obligated to be repurchase. In the event the buyer of the securities under a reverse repurchase agreement files for bankruptcy or becomes
insolvent, such buyer or its trustee or receiver may receive an extension of time to determine whether to enforce the Fund’s obligation
to repurchase the securities, and the Fund’s use of the proceeds of the reverse repurchase agreement may effectively be restricted pending
such decision. Also, the Fund would bear risk of loss to the extent that the proceeds of the reverse repurchase agreement are less than
the value of the securities subject to such agreements.

| 18 | www.pearldivercreditcompany.com |

| Pearl Diver Credit Company Inc. | Notes to Financial Statements |

June 30, 2025 (Unaudited)

At June 30,