Company: PDCC
Filing Date: 2025-09-03
Form Type: N-CSRS
Source: 0001398344-25-017467
Chunk: 29

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-03
Form: N-CSRS
Chunk 29
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 shares of
preferred stock that can be redeemed out of funds legally available for such redemption. In connection with any redemption for failure
to maintain such asset coverage, we may, in our sole option, redeem such additional number of shares of preferred stock that will result
in asset coverage up to and including 285%. In addition, in the event of a liquidation, dissolution or winding up of our affairs, holders
of shares of Series A Term Preferred Stock will be entitled to receive a liquidation distribution equal to the Liquidation Preference,
plus an amount equal to accumulated but unpaid dividends, if any, on such shares (whether or not earned or declared, but excluding interest
on such dividends) to, but excluding, the date fixed for such redemption.

8. COMMITMENTS AND CONTIGENCIES

As of June 30, 2025, the Company had no unfunded commitments
to purchase CLO equity securities related to existing investments in loan accumulation facilities.

The total commitment amount does not necessarily represent
future cash requirements. The Company is not currently subject to any material legal proceedings. From time to time, the Company may be
a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s
rights under contracts. While the outcome of these legal proceedings cannot be predicted with certainty, the Company does not expect these
proceedings will have a material effect upon its financial condition or results of operations.

9. DIRECTORS’ FEES

Directors who are not affiliated with the Advisor
and its affiliates received, as a group, fees of $205,083 from the Fund during the period ended June 30, 2025. Director’s fees in
the Fund’s Statement of Operations are shown as $205,083 and no deferred amounts as of the period ended June 30, 2025. Certain directors
and officers of the fund are also officers of the Adviser, such directors and officers are not compensated by the Fund.

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

June 30, 2025 (Unaudited)

10. INDEMNIFICATIONS

Under the Company’s organizational documents,
its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Company.
In addition, during the normal course of business, the Company enters into contracts containing a variety of representations which provide
general indemnifications. The Company’s maximum exposure under these agreements cannot be known; however, the Company expects any