Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 57

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 57
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 and from
our semi-annual report on Form N-CSRS
for the period from January 1, 2025 to June 30, 2025 (unaudited), filed with the SEC on September 3, 2025.

<div align='center'>FEES AND EXPENSES</div>

The following table is intended to assist you
in understanding the costs and expenses that an investor in shares of our common stock will bear directly or indirectly. The expenses
shown in the table under “Annual Expenses” are based on historical fees and expenses incurred by the Company, as appropriate,
and estimated amounts for our first full year of operations and assume that we incur leverage in an amount equal to approximately 25%
of our total assets (as determined immediately after the leverage is incurred). In addition, such amounts are adjusted to reflect the
Company’s assets as of June 30, 2025. As of June 30, 2025, the Company’s leverage represented approximately 24.3% of the Company’s
total assets. Such expenses, and actual leverage incurred by the Company, may vary in the future. Whenever this report (or other Company
disclosures, including the Company’s prospectus) contain a reference to fees or expenses paid by the Company, the Company’s
common stockholders will indirectly bear such fees or expenses.

The following table should not be considered a
representation of our future expenses. Actual expenses may be greater or less than shown.

(unaudited)

| Stockholder Transaction Expenses (as a percentage of the offering price): |     |   |      |
| Sales load                                                                |     | — | %(1) |
| Offering expenses                                                         |     | — | %(2) |
| Dividend reinvestment plan expenses                                       |     | — | %(3) |
| Total stockholder transaction expenses                                    |     | — | %    |

| Annual Expenses (as a percentage of net assets attributable to common stock): |     |      |      |
| Base management fee                                                           |     | 1.77 | %(4) |
| Incentive fee                                                                 |     | 1.81 | %(5) |
| Interest payments on borrowed funds                                           |     | 1.41 | %(6) |
| Other expenses                                                                |     | 1.68 | %    |
| Total annual expenses                                                         |     | 6.66 | %    |

| 1 | In the event that the Company sells its securities publicly through underwriters or agents, the