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

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 25
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 with the client accounts
to the extent reasonably possible, and identify and manage conflicts of interest to the extent that they arise. Personnel subject to each
code of ethics may invest in securities for their personal investment accounts, including securities that may be purchased or held by
us, so long as such investments are made in accordance with the code’s requirements. Our directors and officers, and the officers
and employees of the Adviser, are also required to comply with applicable provisions of the U.S. federal securities laws and make prompt
reports to supervisory personnel of any actual or suspected violations of law.

Pursuant to the Adviser’s investment allocation
policies and procedures, the Adviser seeks to allocate investment opportunities among accounts in a manner that is fair and equitable
over time. There is no assurance that such opportunities will be allocated to any particular account equitably in the short term or that
any such account, including us, will be able to participate in all investment opportunities that are suitable for it. See “Conflicts of Interest — Code of Ethics and Compliance Procedures.”

Co-Investment with Affiliates. In
certain instances, we expect to co-invest on a concurrent basis with other accounts managed by the Adviser or certain of the Adviser’s
affiliates, subject to compliance with applicable regulations and regulatory guidance and the Adviser’s written allocation procedures.
We and the Adviser have obtained exemptive relief from the SEC on January 22, 2025, to permit us and certain of our affiliates to participate
in certain negotiated co-investments alongside other accounts managed by the Adviser, or certain of its affiliates, subject to certain
conditions. A copy of the application for exemptive relief, including all of the conditions, and the related order are available on the
SEC’s website at www.sec.gov.

<div align='center'>Recent Developments</div>

On
August 5, 2025, we declared a monthly dividend for our common stock of $0.22 per share for August, September, and October 2025. The dividends
were payable on August 29, 2025 to stockholders of record as of August 15, 2025, and will be payable on September 30, 2025 to stockholders
of record as of September 16, 2025, and October 31, 2025 for stockholders of record as of October 17, 2025. Additionally, we declared
a monthly dividend for our preferred stock