Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 174

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 174
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 such other accounts. Further, accounts
managed by the Adviser or certain of its affiliates may hold certain investments in CLOs, such as equity tranches, which conflict with
the positions held by other accounts in such CLOs, such as us. In these cases, when exercising the rights of each account with respect
to such investments, the Adviser and/or its affiliate will have a conflict of interest, as actions on behalf of one account may have an
adverse effect on another account managed by the Adviser or such affiliate, including us.

Our executive officers and directors, as well
as other current and potential future affiliated persons, officers, and employees of the Adviser and certain of its affiliates, may serve
as officers, directors, or principals of, or manage the accounts for, other entities with investment strategies that substantially or
partially overlap with the strategy that we intend to pursue. Accordingly, they may have obligations to investors in those entities, the
fulfillment of which obligations may not be in the best interests of us or our stockholders.

Further, the professional staff of the Adviser
and Administrator will devote as much time to us as such professionals deem appropriate to perform their duties in accordance with the
Investment Advisory Agreement and Services Agreement, respectively. However, such persons may be committed to providing investment advisory
and other services for other clients and engage in other business ventures in which we have no interest. See “The Adviser and the Administrator — The Administrator and the Services Agreement” above. As a result of these separate business
activities, the Adviser and Administrator may have conflicts of interest in allocating management and administrative time, services, and
functions among us and its affiliates and other business ventures or clients.

Allocations of Opportunities

As a fiduciary, the Adviser owes a duty of loyalty
to its clients and must treat each client fairly. When the Adviser purchases or sells securities for more than one account, the trades
must be allocated in a manner consistent with its fiduciary duties. To this end, the Adviser has adopted policies and procedures pursuant
to which they allocate investment opportunities appropriate for more than one client account in a manner deemed appropriate in their sole
discretion to achieve a fair and equitable result over time. Pursuant to these policies and procedures, when allocating investment opportunities,
the Adviser may take into account regulatory, tax, or legal requirements applicable to an account. In allocating investment opportunities,
the Adviser may use rotational, percentage, or other