Company: PDCC
Filing Date: 2025-07-18
Form Type: N-2
Source: 0001214659-25-010613
Chunk: 153

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-07-18
Form: N-2
Chunk 153
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 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. In addition, each code
of ethics is incorporated by reference as an exhibit to the registration statement of which this prospectus is a part, and is available
on the EDGAR Database on the SEC’s website at www.sec.gov.

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.

In addition, the Adviser has built a professional
working environment, firm-wide compliance culture, and compliance procedures and systems designed to protect against potential incentives
that may favor one account over another. The Adviser has adopted policies and procedures that address the allocation of investment opportunities,
execution of portfolio transactions, personal trading by employees, and other potential conflicts of interest that are designed to ensure
that all client accounts are treated equitably over time.

<div align='center'>U.S. FEDERAL INCOME TAX MATTERS</div>

The following is a summary of certain U.S. federal
income tax consequences generally applicable to the purchase, ownership and disposition of our common stock, which will be referred to
as “stock,” issued as of the date of this prospectus. Unless otherwise stated, this summary deals only with our securities
held as capital assets for U.S. federal tax purposes (generally, property held for investment).

As used herein, a “U.S. holder” means
a beneficial owner of the securities that is for U.S. federal income tax purposes any of the following:

| · | an individual citizen or resident of the United States;                                                                                                                                                                                                                                                                                                                  |
| · | a corporation (or any other entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any state or other political subdivision thereof (including the District of Columbia);                                                                                                                 |
| · | a trust if it (a) is subject to the primary supervision of a court within the United States and one or more United States persons have the authority to control all substantial decisions of the trust or (b) has a valid election in effect under applicable United States Treasury regulations, or “Treasury Regulations,” to be treated as a United States person; or |
| · | an estate, the income of which is