Company: PDCC
Filing Date: 2025-11-05
Form Type: DEF 14A
Source: 0001214659-25-015968
Chunk: 25

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-11-05
Form: DEF 14A
Chunk 25
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, if any, that exceeds
the hurdle rate of 2.00% but is less than 2.35294% in any calendar quarter; and (3) 15% of the amount of the Company’s Pre-Incentive
Fee Net Investment Income, if any, that exceeds 2.35294% in any calendar quarter.

Management fees incurred
pursuant to the Advisory Agreement and payable to the Adviser for the period from July 9, 2024 (the date of reorganization), through December
31, 2024, totaled approximately $987,641. For the period ended December 31, 2024, the Company recognized incentive fee expense of $1,085,140.

Administrator and Services Agreement

The Administrator, located
at 1290 Broadway, Suite 1000, Denver, CO 80203, furnishes the Company with office facilities, equipment and clerical, bookkeeping and
record-keeping services at such facilities. Under the services agreement (the “Services Agreement”) between the Company and
the Administrator, the Administrator performs, or arranges for the performance of, our required administrative services, which include
being responsible for the financial records which we are required to maintain and preparing reports to Stockholders.

Payments under the Services
Agreement are equal to an amount based upon our allocable portion of the Administrator’s overhead in performing its obligations
under the Services Agreement, including the fees and expenses associated with performing compliance functions and our allocable portion
of the compensation of our chief financial officer, chief compliance officer and our allocable portion of the compensation of any of their
support staff. To the extent the Administrator outsources any of its functions, we pay the fees on a direct basis, without profit to the
Administrator. Expenses and fees incurred pursuant to the Services Agreement and payable to the Administrator for the period from July
9, 2024 through December 31, 2024, totaled approximately $148,468.

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Independent Registered Public Accounting Firm

The Audit Committee and the
Board unanimously selected Deloitte & Touche LLP (“Deloitte”) as the independent registered public accounting firm for
the Company at a meeting held on November 11, 2024. Deloitte has served as the independent registered public accounting firm of the Company
since the Company’s reorganization in 2024. Deloitte is located at 695 Town Center Drive, Suite 1000, Costa Mesa, CA 92626. The