# EDGAR Filing Document

**Accession Number:** 0002008748
**File Stem:** 0000930413-26-001612
**Filing Date:** 2026-5
**Character Count:** 257758
**Document Hash:** abb51dd8f4fd260a4ce8976ab917283f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000930413-26-001612.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0000930413-26-001612

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 66

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lord Abbett Private Credit Fund
- **CENTRAL INDEX KEY:** 0002008748

**ORGANIZATION NAME:**
- **EIN:** 934670837
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01764
- **FILM NUMBER:** 26978336

**BUSINESS ADDRESS:**
- **STREET 1:** C/O LORD, ABBETT & CO. LLC
- **STREET 2:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 888-522-2388

**MAIL ADDRESS:**
- **STREET 1:** C/O LORD, ABBETT & CO. LLC
- **STREET 2:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Lord Abbett Private Credit Fund 1, LP
- **DATE OF NAME CHANGE:** 20240118

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

------

**FORM 10-Q**

&nbsp;&nbsp;&nbsp;&nbsp;☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** 

**For the quarterly period ended March 31, 2026**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**Commission File Number: 814-01764**

**Lord Abbett Private Credit Fund**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **93-4670837** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer Identification Number) |
| **30 Hudson Street Jersey City, New Jersey** | **07302** |
| (Address of principal executive offices) | (Zip Code) |

---

**(888) 522-2388**

(Registrant's telephone number, including area code)

**<u>Securities registered pursuant to Section 12(b) of the Act:</u>**

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| <u>Large accelerated filer</u> | <u>☐</u> | <u>Accelerated filer</u> | <u>☐</u> |
| <u>Non-accelerated filer</u> | <u>☒</u> | <u>Smaller reporting company</u> | <u>☐</u> |
|  |  | <u>Emerging growth company</u> | <u>☒</u> |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 14, 2026, the registrant had 28,899,288 shares of common stock, $0.01 par value per share, outstanding.

**Lord Abbett Private Credit Fund**

Quarterly Report on Form 10-Q for the Quarter Ended March 31, 2026

---

| | | |
|:---|:---|:---|
| [Cautionary Statement Regarding Forward-Looking Statements](#x2_c116312a001) | [Cautionary Statement Regarding Forward-Looking Statements](#x2_c116312a001) | 2 |
| [Part I. Financial Information](#x2_c116312a002) | [Part I. Financial Information](#x2_c116312a002) | 3 |
| [Item 1.](#x2_c116312a003) | [CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)](#x2_c116312a003) | 3 |
|  | [Consolidated Statements of Assets and Liabilities (Unaudited)](#x2_c116312a004) | 3 |
|  | [Consolidated Statements of Operations (Unaudited)](#x2_c116312a005) | 4 |
|  | [Consolidated Statements of Changes in Net Assets (Unaudited)](#x2_c116312a006) | 5 |
|  | [Consolidated Statement of Cash Flows (Unaudited)](#x2_c116312a007) | 6 |
|  | [Consolidated Schedules of Investments (Unaudited)](#x2_c116312a008) | 7 |
|  | [Notes to the Consolidated Financial Statements (Unaudited)](#x2_c116312a009) | 21 |
| [Item 2.](#x2_c116312a010) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#x2_c116312a010) | 45 |
| [Item 3.](#x2_c116312a011) | [Quantitative and Qualitative Disclosures About Market Risks](#x2_c116312a011) | 53 |
| [Item 4.](#x2_c116312a012) | [Controls and Procedures](#x2_c116312a012) | 54 |
| [Part II. Other Information](#x2_c116312a013) | [Part II. Other Information](#x2_c116312a013) | 55 |
| [Item 1.](#x2_c116312a014) | [Legal Proceedings](#x2_c116312a014) | 55 |
| [Item 1A.](#x2_c116312a015) | [Risk Factors](#x2_c116312a015) | 55 |
| [Item 2.](#x2_c116312a016) | [Unregistered Sales of Equity Securities and Use of Proceeds](#x2_c116312a016) | 55 |
| [Item 3.](#x2_c116312a017) | [Defaults Upon Senior Securities](#x2_c116312a017) | 55 |
| [Item 4.](#x2_c116312a018) | [Mine Safety Disclosures](#x2_c116312a018) | 55 |
| [Item 5.](#x2_c116312a019) | [Other Information](#x2_c116312a019) | 55 |
| [Item 6.](#x2_c116312a020) | [Exhibits](#x2_c116312a020) | 55 |
| [Signatures](#x2_c116312a021) | [Signatures](#x2_c116312a021) | 57 |

---

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and you should not place undue reliance on such statements. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, our beliefs and opinions and our assumptions. We are externally managed by the Adviser, a registered investment adviser under the Investment Advisers Act of 1940, as amended (the "Advisers Act"). Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "potential," "predicts," and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our future operating results;

• our business prospects and the prospects of our portfolio companies;

• risk associated with possible disruptions in our operations or the economy generally;

• changes in the general interest rate environment;

• general economic, political and industry trends and other external factors, including uncertainty surrounding the financial
 and political stability of the United States and other countries;

• our contractual arrangements and relationships with third parties;

• actual and potential conflicts of interest with our Adviser and its affiliates;

• the dependence of our future success on the general economy and its effect on the industries in which we invest;

• the ability of our portfolio companies to achieve their objectives;

• the use of borrowed money to finance a portion of our investments;

• the adequacy of our financing sources and working capital;

• the timing and amount of cash flows, if any, from the operations of our portfolio companies;

• the ability of our Adviser to locate suitable investments for us and to monitor and administer our investments;

• the ability of our Adviser and its affiliates to attract and retain highly talented professionals;

• our ability to qualify and maintain our qualification as a BDC and as a regulated investment company ("RIC")
 under the Internal Revenue Code of 1986, as amended (the "Code");

• the impact on our business of U.S. and international financial reform legislation, rules and regulations;

• the effect of changes in tax laws and regulations and interpretations thereof; and

• the risks, uncertainties and other factors we identify under "Item 1A. Risk Factors" and elsewhere in this
 Quarterly Report on Form 10-Q.

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of the assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statements in this Quarterly Report on Form 10-Q should not be regarded as a representation by us that our plans and objectives will be achieved. This Quarterly Report on Form 10-Q contains forward-looking statements, which may relate to future events or our future performance or financial condition and involves numerous risks and uncertainties, including, but not limited to, those described or identified in the section entitled "Item 1A. Risk Factors" and elsewhere in this Quarterly Report on Form 10-Q. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this Quarterly Report on Form 10-Q. Moreover, we assume no duty and do not undertake to update the forward-looking statements. You are advised to consult any additional disclosures that we make directly to you or through reports that we may file with the SEC in the future, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

**Lord Abbett Private Credit Fund**

**Consolidated Statements of Assets and Liabilities (Unaudited)**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**PART I – FINANCIAL INFORMATION**

**Item 1. Consolidated Financial Statements**

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
| **ASSETS** |  |  |
| Investments at fair value |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments (cost $1,359,368 and $1,250,796, respectively) | $1348797 | $1248322 |
| &nbsp;&nbsp;&nbsp;Controlled/affiliated investments (cost $64,625 and $61,592, respectively) | 64209 | 61606 |
| Total investments at fair value (cost $1,423,993 and $1,312,388, respectively) | $1413006 | $1309928 |
| Cash and cash equivalents | 67747 | 120437 |
| Foreign currencies (cost $144 and $328, respectively) | 141 | 330 |
| Interest receivable from non-controlled/non-affiliated investments | 8457 | 5088 |
| Dividend receivable from controlled/affiliated investments | 1816 | 2016 |
| Receivable for investments sold | 215 | 14927 |
| Due from affiliate | 12 | 1012 |
| Other assets | 9 | 16 |
| **Total assets** | $**1491403** | $**1453754** |
| **LIABILITIES** |  |  |
| Debt (net of deferred financing costs $6,938 and $5,900, respectively) (Note 5) | $710768 | $797050 |
| Payable for investments purchased | 44508 | 21593 |
| Subscriptions received in advance (Note 9) | 43437 | 89530 |
| Interest payable | 9791 | 6996 |
| Distribution payable | 5966 | 4625 |
| Income incentive fees payable (Note 3) | 2428 | 2073 |
| Professional fees payable | 1356 | 993 |
| Management fees payable (Note 3) | 562 | 441 |
| Due to affiliate | 270 | 2157 |
| Accrued expenses and other liabilities | 158 | 139 |
| Administration fees payable (Note 3) | 140 | 110 |
| **Total liabilities** | $**819384** | $**925707** |
| **Total net assets** | $**672019** | $**528047** |
| **Commitments and contingencies (Note 6)** |  |  |
| **NET ASSETS** |  |  |
| Common shares, $0.01 par value (27,111,380 and 21,021,184 shares issued and outstanding, respectively, unlimited number of authorized shares) | $271 | $210 |
| Paid in capital in excess of par value | 681084 | 528362 |
| Total distributable earnings (accumulated loss) | (9336) | (525) |
| **Total net assets** | $**672019** | $**528047** |
| **Total liabilities and net assets** | $**1491403** | $**1453754** |
| **Net asset value per share** | $**24.79** | $**25.12** |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Statements of Operations (Unaudited)**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | |
|:---|:---|:---|
|  | **For the three months<br> ended March 31, 2026** | **For the three months<br> ended March 31, 2025** |
| **Investment income** |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | $29955 | $12917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment-in-kind interest income | 248 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fee income | 672 | 597 |
| &nbsp;&nbsp;&nbsp;Controlled/affiliated investments: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | 1816 | 911 |
| &nbsp;&nbsp;&nbsp;**Total investment income** | $32691 | $14425 |
| **Expenses** |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | $10512 | $5842 |
| &nbsp;&nbsp;&nbsp;Income incentive fees (Note 3) | 2428 | 979 |
| &nbsp;&nbsp;&nbsp;Management fees (Note 3) | 1629 | 602 |
| &nbsp;&nbsp;&nbsp;Professional fees | 667 | 421 |
| &nbsp;&nbsp;&nbsp;Administration fees (Note 3) | 407 | 150 |
| &nbsp;&nbsp;&nbsp;Other general & administrative | 188 | 71 |
| &nbsp;&nbsp;&nbsp;Capital gains incentive fees (Note 3) |  | 44 |
| &nbsp;&nbsp;&nbsp;Amortization of offering costs | - | 31 |
| **Total expenses** | $15831 | $8140 |
| &nbsp;&nbsp;&nbsp;Expense reimbursement (Note 3) | $(135) | $(353) |
| &nbsp;&nbsp;&nbsp;Management fees waived (Note 3) | - | (170) |
| **Net expenses** | $15696 | $7617 |
| **Net investment income (loss)** | $16995 | $6808 |
| **Net realized gain (loss) and change in unrealized appreciation (depreciation):** | **Net realized gain (loss) and change in unrealized appreciation (depreciation):** | **Net realized gain (loss) and change in unrealized appreciation (depreciation):** |
| Net realized gain (loss): |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments | $58 | $12 |
| &nbsp;&nbsp;&nbsp;Foreign currency transactions | 6 | - |
| Net realized gain (loss) | $64 | $12 |
| Net change in unrealized appreciation (depreciation): |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments | $(8223) | $256 |
| &nbsp;&nbsp;&nbsp;Controlled/affiliated investments | (430) | 87 |
| Net change in unrealized appreciation (depreciation) | $(8653) | $343 |
| **Net realized gain (loss) and change in unrealized appreciation (depreciation)** | $(8589) | $355 |
| **Net increase (decrease) in net assets resulting from operations** | $8406 | $7163 |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Statements of Changes in Net Assets (Unaudited)**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | |
|:---|:---|:---|
|  | **For the three months<br> ended March 31, 2026** | **For the three months<br> ended March 31, 2025** |
| **Net increase (decrease) in net assets resulting from operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | $16995 | $6808 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | 64 | 12 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (8653) | 343 |
| Net increase (decrease) in net assets resulting from operations | $8406 | $7163 |
| **Distributions to common shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Distributions from net investment income | $(17217) | $(6951) |
| Net decrease in net assets resulting from distributions | $(17217) | $(6951) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from shares sold | $150482 | $66410 |
| &nbsp;&nbsp;&nbsp;Distributions reinvested | 2301 | - |
| Net increase (decrease) from capital share transactions | 152783 | 66410 |
| Total increase (decrease) in net assets | $143972 | $66622 |
| Net assets, beginning of period | $528047 | $203539 |
| **Net assets, end of period** | $**672019** | $**270161** |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Statements of Cash Flows (Unaudited)**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | |
|:---|:---|:---|
|  | **For the three months<br> ended March 31, 2026** | **For the three months<br> ended March 31, 2025** |
| **Cash flows from operating activities:** | | |
| Net increase (decrease) in net assets resulting from operations | $8406 | $7163 |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized (gain) loss | (64) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized (appreciation) depreciation | 8653 | (343) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of investments | (272656) | (151409) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment-in-kind interest income capitalized | (252) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales and principal repayments | 163074 | 33754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net amortization (accretion) on investments | (1713) | (676) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred financing costs | 418 | 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred offering costs |  | 31 |
| **Changes in operating assets and liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest receivable from non-controlled/non-affiliated investments | (3369) | 350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend receivable from controlled/affiliated investments | 200 | (911) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable for investments sold | 14712 | (372) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscriptions received in advance | (46093) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due from affiliate | 1000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | 7 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due from advisor |  | 487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable for investments purchased | 22915 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest payable | 2795 | (292) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income incentive fees payable | 355 | 266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fees payable | 363 | 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management fees payable | 121 | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to affiliate | (1887) | (1197) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 19 | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administration fees payable | 30 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gains incentive fees payable | - | 43 |
| **Net cash provided by (used in) operating activities** | $**(102966)** | $**(112188)** |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings of debt | 232500 | 286618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of debt | (317865) | (254000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares sold | 150482 | 66410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income distributions to common shareholders, net of distributions payable and reinvested | (13575) | (4383) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred financing costs paid | (1455) | (900) |
| **Net cash provided by (used in) financing activities** | $**50087** | $**93745** |
| Net increase (decrease) in cash, cash equivalents and foreign currencies | (52879) | (18443) |
| Cash, cash equivalents and foreign currencies at beginning of period | 120767 | 113767 |
| **Cash, Cash Equivalents and Foreign Currencies at the End of Period** | $**67888** | $**95324** |
| **Supplemental cash flow information** |  |  |
| Interest paid during the period | $7299 | $5620 |
| Reinvestment of distributions during the period | $2301 | $- |
| Payment-in-kind interest income | $248 | $- |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund** 

**Consolidated Schedules of Investments (Unaudited)** 

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest <br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Investments—non-controlled/non-affiliated** |  |  |  |  |  |  |  |
| **First Lien Secured Debt<sup>(4)(6)</sup>** |  |  |  |  |  |  |  |
| **Aerospace & Defense**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AA&D Midco Inc (Term Loan) | 3M S + 4.75% | 8.45% | 11/29/2030 | $37749 | $37453 | $37372 | 5.57% |
| &nbsp;&nbsp;&nbsp;AA&D Midco Inc (Delayed Draw 2024) | 3M S + 4.75% | 8.40% | 11/29/2030 | 15986 | 15862 | 15826 | 2.35 |
| &nbsp;&nbsp;&nbsp;AA&D Midco Inc (Incremental Delayed Draw 2025) | 3M S + 4.75% | 8.42% | 11/29/2030 | 12570 | 12453 | 12444 | 1.85 |
| &nbsp;&nbsp;&nbsp;AA&D Midco Inc (Revolver) <sup>(7)</sup> | 3M S + 4.50% | 8.15% | 11/29/2030 | 3091 | 3023 | 3006 | 0.45 |
| &nbsp;&nbsp;&nbsp;Accel International Holdings Inc (Term Loan) | 1M S + 4.50% | 8.17% | 4/26/2032 | 568 | 565 | 568 | 0.08 |
| &nbsp;&nbsp;&nbsp;Accel International Holdings Inc (Revolver) <sup>(7)</sup> | 1M S + 4.50% | N/A | 4/26/2032 |  | (9) |  |  |
| &nbsp;&nbsp;&nbsp;Electro Methods (Term Loan) | 3M S + 4.75% | 8.41% | 2/23/2032 | 29322 | 28940 | 29285 | 4.36 |
| &nbsp;&nbsp;&nbsp;Electro Methods (Revolver)<sup>(7)</sup> | 3M S + 4.75% | N/A | 2/23/2032 |  | (90) | (9) | - |
|  |  |  |  |  | 98197 | 98492 | 14.66 |
| **Air Freight & Logistics** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;eShipping LLC (Term Loan) | 3M S + 4.50% | 8.20% | 12/23/2032 | 33043 | 32883 | 32878 | 4.89 |
| &nbsp;&nbsp;&nbsp;eShipping LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.50% | N/A | 12/23/2032 |  | (30) | (62) | (0.01) |
| &nbsp;&nbsp;&nbsp;eShipping LLC (Revolver) <sup>(7)</sup> | 3M P + 3.50% | 10.25% | 12/23/2032 | 390 | 360 | 358 | 0.05 |
| &nbsp;&nbsp;&nbsp;ICAT Intermediate Holdings LLC (Term Loan) | 1M S + 6.25% | 9.92% | 3/1/2029 | 27439 | 27081 | 26993 | 4.02 |
| &nbsp;&nbsp;&nbsp;ICAT Intermediate Holdings LLC (Delayed Draw) <sup>(7)</sup> | 1M S + 6.25% | 9.92% | 3/1/2029 | 6616 | 6484 | 6392 | 0.95 |
| &nbsp;&nbsp;&nbsp;ICAT Intermediate Holdings LLC (Revolver) <sup>(7)</sup> | 1M S + 6.25% | N/A | 3/1/2029 |  | (27) | (34) | (0.01) |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Term Loan 2024) | 3M S + 5.00% | 8.70% | 11/26/2031 | 34633 | 34336 | 34243 | 5.10 |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Term Loan 2025) | 3M S + 5.00% | 8.70% | 11/26/2031 | 17101 | 16940 | 16909 | 2.52 |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Delayed Draw 2024) <sup>(7)</sup> | 6M S + 5.00% | 8.73% | 11/26/2031 | 2945 | 2931 | 2907 | 0.43 |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Delayed Draw 2025) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/26/2031 |  | (13) | (33) | - |
|  |  |  |  |  | 120945 | 120551 | 17.94 |
| **Building Materials** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;CP Atlas Buyer, Inc. (Term Loan) <sup>(10)</sup> | 1M S + 5.25% | 8.92% | 7/8/2030 | 14328 | 13830 | 13253 | 1.97 |
|  |  |  |  |  | 13830 | 13253 | 1.97 |
| **Commercial Services & Supplies** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Term Loan 2024) | 3M S + 5.25% | 8.95% | 6/28/2030 | 6927 | 6868 | 6883 | 1.02 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Term Loan 2025 2nd Amendment) | 3M S + 5.25% | 8.95% | 6/28/2030 | 382 | 376 | 379 | 0.06 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Term Loan 2025 3rd Amendment) | 3M S + 5.25% | 8.95% | 6/28/2030 | 310 | 305 | 308 | 0.05 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Delayed Draw 2024) | 3M S + 5.25% | 8.95% | 6/28/2030 | 423 | 420 | 420 | 0.06 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan B) <sup>(7)</sup> | 3M S + 5.25% | 8.95% | 6/28/2030 | 462 | 457 | 458 | 0.07 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan C) <sup>(7)</sup> | 3M S + 5.25% | N/A | 6/28/2030 |  | (4) | (3) |  |
| &nbsp;&nbsp;&nbsp;Cards-Live Oak Holdings, Inc. (Term Loan) | 3M S + 4.75% | 8.45% | 10/21/2032 | 17980 | 17895 | 17868 | 2.65 |
| &nbsp;&nbsp;&nbsp;Cards-Live Oak Holdings, Inc. (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% | 8.45% | 10/21/2032 | 2575 | 2546 | 2530 | 0.38 |
| &nbsp;&nbsp;&nbsp;Cards-Live Oak Holdings, Inc. (Revolver) <sup>(7)</sup> | 3M S + 4.75% | 8.45% | 10/21/2032 | 1288 | 1272 | 1266 | 0.19 |
| &nbsp;&nbsp;&nbsp;JFL-Atomic AcquisitionCo, Inc. (Term Loan) | 3M S + 4.75% | 8.41% | 2/20/2031 | 46004 | 45405 | 45371 | 6.75 |
| &nbsp;&nbsp;&nbsp;JFL-Atomic AcquisitionCo, Inc. (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% | 8.41% | 2/20/2031 | 8287 | 8106 | 8012 | 1.19 |
| &nbsp;&nbsp;&nbsp;JFL-Atomic AcquisitionCo, Inc. (Revolver) <sup>(7)</sup> | 3M S + 4.75% | N/A | 2/20/2031 |  | (73) | (86) | (0.01) |
| &nbsp;&nbsp;&nbsp;Pearl Acquisition Buyer, Inc. (Term Loan) | 3M S + 4.50% | 8.20% | 12/31/2032 | 33251 | 33090 | 33085 | 4.93 |
| &nbsp;&nbsp;&nbsp;Pearl Acquisition Buyer, Inc. (Delayed Draw) <sup>(7)</sup> | 3M S + 4.50% | N/A | 12/31/2032 |  | (26) | (55) | (0.01) |
| &nbsp;&nbsp;&nbsp;Pearl Acquisition Buyer, Inc. (Revolver) <sup>(7)</sup> | 3M S + 4.50% | 8.20% | 12/31/2032 | 626 | 605 | 605 | 0.09 |
|  |  |  |  |  | 117242 | 117041 | 17.42 |
| **Construction & Engineering** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Term Loan) | 3M S + 4.25% | 7.92% | 3/27/2031 | 2502 | 2492 | 2493 | 0.37 |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Delayed Draw 2024 Term Loan) | 3M S + 4.25% | 7.92% | 3/27/2031 | 24915 | 24768 | 24822 | 3.70 |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Incremental Delayed Draw Term Loan 2025) <sup>(7)</sup> | 3M S + 4.25% | 7.92% | 3/27/2031 | 1486 | 1478 | 1477 | 0.22 |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Incremental Delayed Draw Term Loan 2 2025) <sup>(7)</sup> | 3M S + 4.25% | N/A | 3/28/2028 |  | (12) | (21) |  |
| &nbsp;&nbsp;&nbsp;NDT Global Holding Inc. (Delayed Draw) <sup>(7)</sup> | 1M S + 4.50% | N/A | 6/4/2032 |  | (103) | (103) | (0.02) |
|  |  |  |  |  | 28623 | 28668 | 4.27 |
| **Containers & Packaging** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Schoeneck Containers, LLC (Revolver) <sup>(7)</sup> | 1M S + 4.10% | 7.89% | 5/7/2028 | 426 | 426 | 418 | 0.06 |
|  |  |  |  |  | 426 | 418 | 0.06 |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund** 

**Consolidated Schedules of Investments (Unaudited) (Continued)** 

**March 31, 2026** 

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Electrical Equipment**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AMP Purchaser LLC (Term Loan) | 3M S + 4.50% |  | 8.20% | 4/1/2033 | $21478 | $21371 | $21371 | 3.18% |
| &nbsp;&nbsp;&nbsp;AMP Purchaser LLC (Revolver) <sup>(7)</sup> | 3M S + 4.50% |  | N/A | 4/1/2033 |  | (14) | (14) |  |
| &nbsp;&nbsp;&nbsp;Centaur Holdings III LLC (Term Loan) | 3M S + 4.50% |  | 8.20% | 9/5/2031 | 33981 | 33664 | 33769 | 5.02 |
| &nbsp;&nbsp;&nbsp;Centaur Holdings III LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.50% |  | 8.20% | 9/5/2031 | 2096 | 2062 | 2064 | 0.31 |
| &nbsp;&nbsp;&nbsp;Centaur Holdings III LLC (Revolver) <sup>(7)</sup> | 3M S + 4.50% |  | 8.20% | 9/5/2031 | 1153 | 1114 | 1127 | 0.17 |
| &nbsp;&nbsp;&nbsp;Maverick Power, LLC (Term Loan) | 3M S + 5.00% |  | 8.66% | 5/4/2031 | 21867 | 21551 | 21539 | 3.21 |
| &nbsp;&nbsp;&nbsp;Spark Buyer, LLC (Term Loan) | 3M S + 5.25% |  | 8.90% | 10/15/2031 | 46406 | 45822 | 42926 | 6.38 |
| &nbsp;&nbsp;&nbsp;Spark Buyer, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.25% |  | N/A | 10/15/2031 |  | (112) | (1406) | (0.21) |
| &nbsp;&nbsp;&nbsp;Spark Buyer, LLC (Revolver) <sup>(7)</sup> | 3M S + 5.25% |  | 8.95% | 10/15/2031 | 4219 | 4106 | 3516 | 0.52 |
|  |  |  |  |  |  | 129564 | 124892 | 18.58 |
| **Financial Services**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Empower Payments Investor, LLC (Term Loan) | 3M S + 4.50% |  | 8.30% | 3/12/2031 | 7800 | 7739 | 7739 | 1.15 |
| &nbsp;&nbsp;&nbsp;Empower Payments Investor, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.50% |  | N/A | 3/12/2031 |  | (49) | (49) | (0.01) |
| &nbsp;&nbsp;&nbsp;Forge Borrower, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.50% |  | N/A | 1/31/2033 |  | (12) | (12) |  |
| &nbsp;&nbsp;&nbsp;Forge Borrower, LLC (Revolver) <sup>(7)</sup> | 3M S + 4.50% |  | N/A | 1/31/2033 |  | (5) | (5) |  |
| &nbsp;&nbsp;&nbsp;MAI Capital Management Intermediate LLC (Term Loan) | 3M S + 4.75% |  | 8.45% | 8/29/2031 | 10660 | 10654 | 10654 | 1.58 |
| &nbsp;&nbsp;&nbsp;MAI Capital Management Intermediate LLC (Revolver) <sup>(7)</sup> | 3M S + 4.75% |  | 8.45% | 8/29/2031 | 978 | 976 | 976 | 0.15 |
|  |  |  |  |  |  | 19303 | 19303 | 2.87 |
| **Food Products**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Frozen Garlic Bread Holdings Inc (Term Loan) | 3M S + 4.75% |  | 8.45% | 2/6/2032 | 34456 | 34287 | 34287 | 5.09 |
| &nbsp;&nbsp;&nbsp;Frozen Garlic Bread Holdings Inc (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% |  | N/A | 2/6/2032 |  | (32) | (32) |  |
| &nbsp;&nbsp;&nbsp;Frozen Garlic Bread Holdings Inc (Revolver) <sup>(7)</sup> | 3M S + 4.75% |  | N/A | 2/6/2032 |  | (22) | (22) | - |
|  |  |  |  |  |  | 34233 | 34233 | 5.09 |
| **Health Care Equipment & Supplies**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Term Loan) | 1M S + 4.50% |  | 8.28% | 12/31/2028 | 11201 | 11124 | 11103 | 1.65 |
| &nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (1st AmendmentTerm Loan 2026) | 1M S + 4.50% |  | 8.27% | 12/31/2028 | 5927 | 5927 | 5875 | 0.87 |
| &nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Delayed Draw) <sup>(7)</sup> | 1M S + 4.50% |  | N/A | 12/31/2028 |  | (27) | (33) |  |
| &nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Revolver) <sup>(7)</sup> | 1M P + 3.50% |  | 10.25% | 12/31/2028 | 1564 | 1557 | 1534 | 0.23 |
|  |  |  |  |  |  | 18581 | 18479 | 2.75 |
| **Health Care Providers & Services**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Continental Buyer Inc (Term Loan 2024) | 1M S + 4.50% |  | 8.17% | 4/2/2031 | 44576 | 44069 | 44242 | 6.57 |
| &nbsp;&nbsp;&nbsp;Continental Buyer Inc (2 Incremental Term Loan 2025) | 1M S + 4.50% |  | 8.17% | 4/2/2031 | 5751 | 5724 | 5708 | 0.85 |
| &nbsp;&nbsp;&nbsp;Continental Buyer Inc (Delayed Draw) <sup>(7)</sup> | 1M S + 4.50% |  | N/A | 4/2/2031 |  | (3) | (8) |  |
| &nbsp;&nbsp;&nbsp;Continental Buyer Inc (Revolver) <sup>(7)</sup> | 1M S + 4.50% |  | N/A | 4/2/2031 |  | (54) | (40) | (0.01) |
| &nbsp;&nbsp;&nbsp;Falcon Parent Holdings Inc (Term Loan) | 3M S + 5.50% | (Incl. 2.75% PIK) | 9.17% | 11/6/2031 | 36031 | 35681 | 35355 | 5.26 |
| &nbsp;&nbsp;&nbsp;Falcon Parent Holdings Inc (Delayed Draw) <sup>(7)</sup> | 3M S + 5.50% | (Incl. 2.75% PIK) | N/A | 11/6/2031 |  | (68) | (53) | (0.01) |
| &nbsp;&nbsp;&nbsp;Falcon Parent Holdings Inc (Revolver) <sup>(7)</sup> | 3M S + 5.00% |  | 8.66% | 11/6/2031 | 994 | 943 | 915 | 0.14 |
| &nbsp;&nbsp;&nbsp;Genova Diagnostics, Inc. (Term Loan) | 3M S + 6.75% |  | 10.45% | 12/23/2030 | 12598 | 12268 | 12252 | 1.82 |
| &nbsp;&nbsp;&nbsp;Genova Diagnostics, Inc. (Delayed Draw) | 3M S + 6.75% |  | 10.45% | 12/23/2030 | 1355 | 1320 | 1318 | 0.20 |
| &nbsp;&nbsp;&nbsp;Genova Diagnostics, Inc. (Revolver) <sup>(7)</sup> | 3M S + 6.75% |  | N/A | 12/23/2030 |  | (25) | (27) |  |
| &nbsp;&nbsp;&nbsp;SMG Operating CO LLC (Term Loan) | 3M S + 5.00% |  | 8.67% | 12/5/2030 | 33200 | 32729 | 32702 | 4.87 |
| &nbsp;&nbsp;&nbsp;SMG Operating CO LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% |  | N/A | 12/5/2030 |  | (41) | (89) | (0.01) |
| &nbsp;&nbsp;&nbsp;SMG Operating CO LLC (Revolver) <sup>(7)</sup> | 3M S + 5.00% |  | N/A | 12/5/2030 |  | (58) | (62) | (0.01) |
|  |  |  |  |  |  | 132485 | 132213 | 19.67 |
| **Hotels, Restaurants & Leisure**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;ClubCorp Holdings, Inc. (Term Loan) | 1M S + 4.75% |  | 8.42% | 7/9/2032 | 10374 | 10269 | 10269 | 1.53 |
| &nbsp;&nbsp;&nbsp;ClubCorp Holdings, Inc. (Delayed Draw) <sup>(7)</sup> | 1M S + 4.75% |  | N/A | 7/9/2032 |  | (47) | (47) | (0.01) |
| &nbsp;&nbsp;&nbsp;Excursions Buyer, LLC (Term Loan) | 3M S + 5.50% |  | 9.17% | 11/21/2031 | 16386 | 16230 | 16243 | 2.42 |
|  |  |  |  |  |  | 26452 | 26465 | 3.94 |
| **Industrial Conglomerates**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dwyer Instruments, Inc (Term Loan) | 3M S + 4.75% |  | 8.45% | 7/20/2029 | 10920 | 10920 | 10920 | 1.62 |
| &nbsp;&nbsp;&nbsp;Dwyer Instruments, Inc (Revolver) <sup>(7)</sup> | 3M S + 4.75% |  | 8.45% | 7/20/2029 | 925 | 925 | 925 | 0.14 |
|  |  |  |  |  |  | 11845 | 11845 | 1.76 |
| **Insurance**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;World Insurance Associates, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% |  | 8.71% | 4/3/2030 | 3049 | 3033 | 3006 | 0.45 |
| &nbsp;&nbsp;&nbsp;World Insurance Associates, LLC (Revolver) <sup>(7)</sup> | 3M S + 5.00% |  | N/A | 4/3/2030 |  | (1) | (2) | - |
|  |  |  |  |  |  | 3032 | 3004 | 0.45 |
| **IT Services**  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Association Resource Group, LLC (Term Loan) | 3M S + 4.75% |  | 8.40% | 2/2/2033 | 27275 | 27006 | 27006 | 4.02 |
| &nbsp;&nbsp;&nbsp;Association Resource Group, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% |  | N/A | 2/2/2033 |  | (108) | (108) | (0.02) |
| &nbsp;&nbsp;&nbsp;Association Resource Group, LLC (Revolver)<sup>(7)</sup> | 3M S + 4.75% |  | N/A | 2/2/2033 |  | (62) | (62) | (0.01) |
| &nbsp;&nbsp;&nbsp;BCM One, Inc. (Term Loan) | 6M S + 4.50% |  | 8.24% | 11/17/2027 | 9548 | 9548 | 9536 | 1.42 |
| &nbsp;&nbsp;&nbsp;BCM One, Inc. (Delayed Draw) | 1M S + 4.50% |  | 8.27% | 11/17/2027 | 4701 | 4701 | 4695 | 0.70 |
| &nbsp;&nbsp;&nbsp;BCM One, Inc. (Revolver) <sup>(7)</sup> | 6M S + 4.50% |  | N/A | 11/17/2027 |  |  | (2) |  |
| &nbsp;&nbsp;&nbsp;GCOM (Term Loan) | 3M S + 9.50% |  | 13.43% | 8/21/2028 | 38698 | 38430 | 38408 | 5.72 |
| &nbsp;&nbsp;&nbsp;Uptime Institute (Term Loan) | 1M S + 5.00% |  | 8.53% | 1/12/2027 | 15657 | 15583 | 15618 | 2.32 |
| &nbsp;&nbsp;&nbsp;Uptime Institute (Revolver) <sup>(7)</sup> | 1M S + 5.00% |  | N/A | 1/12/2027 |  | - | (5) | - |
|  |  |  |  |  |  | 95098 | 95086 | 14.15 |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund** 

**Consolidated Schedules of Investments (Unaudited) (Continued)** 

**March 31, 2026** 

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Life Sciences Tools & Services**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;TransnetYX, Inc (Term Loan) | 3M S + 4.75% | 8.45% | 4/13/2027 | $11495 | $11495 | $11495 | 1.71% |
|  |  |  |  |  | 11495 | 11495 | 1.71 |
| **Machinery**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Leg Purchaser Inc (Term Loan) <sup>(5)</sup> | 3M S + 5.50% | 9.15% | 1/12/2032 | 34836 | 34328 | 34314 | 5.10 |
| &nbsp;&nbsp;&nbsp;Leg Purchaser Inc (Revolver) <sup>(5)(7)</sup> | 3M S + 5.50% | N/A | 1/12/2032 |  | (48) | (50) | (0.01) |
| &nbsp;&nbsp;&nbsp;LR Purchaser LLC (Term Loan) | 3M S + 4.25% | 7.93% | 3/19/2031 | 21818 | 21492 | 21492 | 3.20 |
| &nbsp;&nbsp;&nbsp;LR Purchaser LLC (Revolver) <sup>(7)</sup> | 3M S + 4.25% | N/A | 3/19/2031 |  | (72) | (72) | (0.01) |
| &nbsp;&nbsp;&nbsp;Rental Equipment Investment Co. (Term Loan) | 3M S + 4.50% | 8.20% | 10/8/2030 | 4655 | 4602 | 4603 | 0.68 |
| &nbsp;&nbsp;&nbsp;Rental Equipment Investment Co. (Revolver) <sup>(7)</sup> | 6M S + 4.50% | 8.23% | 10/8/2030 | 907 | 846 | 847 | 0.13 |
| &nbsp;&nbsp;&nbsp;Solve Industrial Motion Group LLC (Term Loan) | 1M S + 4.50% | 8.27% | 6/30/2027 | 2341 | 2311 | 2311 | 0.34 |
| &nbsp;&nbsp;&nbsp;Solve Industrial Motion Group LLC (Delayed Draw) <sup>(7)</sup> | 1M S + 4.75% | 8.52% | 6/30/2027 | 25801 | 25633 | 25412 | 3.78 |
|  |  |  |  |  | 89092 | 88857 | 13.21 |
| **Personal Care Products**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Arkas Bidco Limited (Term Loan) <sup>(5)(11)</sup> | 3M S + 6.00% | 9.66% | 11/8/2032 | 28843 | 28289 | 28302 | 4.21 |
|  |  |  |  |  | 28289 | 28302 | 4.21 |
| **Pharmaceuticals**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Meta Buyer LLC (Term Loan 2025 USD) | 3M S + 5.25% | 8.94% | 12/22/2031 | 14067 | 13932 | 13944 | 2.07 |
| &nbsp;&nbsp;&nbsp;Meta Buyer LLC (Term Loan 2025 EUR) | 3M E + 5.25% | 7.29% | 12/22/2031 | 16762 | 19438 | 19204 | 2.87 |
| &nbsp;&nbsp;&nbsp;Meta Buyer LLC (Term Loan 2025 AUD) | 3M B + 5.25% | 9.02% | 12/22/2031 | 19733 | 12919 | 13495 | 2.01 |
| &nbsp;&nbsp;&nbsp;Meta Buyer LLC (Delayed Draw 2025 Term Loan USD) <sup>(7)</sup> | 3M S + 5.25% | 8.92% | 12/22/2031 | 1875 | 1807 | 1799 | 0.27 |
| &nbsp;&nbsp;&nbsp;Meta Buyer LLC (Specified Delayed Draw 2025) | 3M S + 5.25% | 8.92% | 12/22/2031 | 4359 | 4324 | 4321 | 0.64 |
| &nbsp;&nbsp;&nbsp;Meta Buyer LLC (Revolver) <sup>(7)</sup> | 3M S + 5.25% | N/A | 12/22/2031 |  | (54) | (50) | (0.01) |
|  |  |  |  |  | 52366 | 52713 | 7.85 |
| **Professional Services**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accordion Partners LLC (Term Loan) | 3M S + 5.00% | 8.68% | 11/17/2031 | 30769 | 30695 | 30692 | 4.57 |
| &nbsp;&nbsp;&nbsp;Accordion Partners LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | 8.70% | 11/17/2031 | 5434 | 5366 | 5377 | 0.80 |
| &nbsp;&nbsp;&nbsp;Accordion Partners LLC (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/17/2031 |  | (18) | (9) |  |
| &nbsp;&nbsp;&nbsp;Aprio Advisory Group, LLC (Delayed Draw) <sup>(7)</sup> | 1M S + 4.75% | N/A | 8/1/2031 |  | (232) | (488) | (0.07) |
| &nbsp;&nbsp;&nbsp;Aprio Advisory Group, LLC (Revolver) <sup>(7)</sup> | 1M S + 4.75% | 8.42% | 8/1/2031 | 1319 | 1282 | 1280 | 0.19 |
| &nbsp;&nbsp;&nbsp;ComPsych Investment Corp. (Term Loan) | 3M S + 4.75% | 8.42% | 7/22/2031 | 14980 | 14950 | 14980 | 2.23 |
| &nbsp;&nbsp;&nbsp;ComPsych Investment Corp. (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% | N/A | 7/22/2031 |  | (7) |  |  |
| &nbsp;&nbsp;&nbsp;Lighthouse Technologies Holding Corp (Term Loan 2021) | 3M S + 5.00% | 8.67% | 12/31/2029 | 8400 | 8400 | 8379 | 1.25 |
| &nbsp;&nbsp;&nbsp;Lighthouse Technologies Holding Corp (4th Amendment Term Loan 2025) | 3M S + 5.00% | 8.67% | 12/31/2029 | 16927 | 16847 | 16885 | 2.51 |
| &nbsp;&nbsp;&nbsp;Lighthouse Technologies Holding Corp (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 12/31/2029 |  | (5) | (3) |  |
| &nbsp;&nbsp;&nbsp;Vensure Employer Services Inc (Term Loan) | 3M S + 5.00% | 8.70% | 9/29/2031 | 12759 | 12694 | 12663 | 1.88 |
|  |  |  |  |  | 89972 | 89756 | 13.36 |
| **Real Estate Management & Development**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Term Loan 2025) | 3M S + 5.25% | 8.95% | 5/6/2032 | 60499 | 59955 | 59894 | 8.91 |
| &nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Incremental Term Loan 2025) | 3M S + 5.25% | 8.95% | 5/6/2032 | 4246 | 4206 | 4203 | 0.63 |
| &nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.25% | N/A | 5/6/2032 |  | (51) | (91) | (0.01) |
| &nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Revolver) <sup>(7)</sup> | 3M S + 5.25% | N/A | 5/6/2032 |  | (49) | (55) | (0.01) |
|  |  |  |  |  | 64061 | 63951 | 9.52 |
| **Software**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Databricks Inc (Term Loan) | 1M S + 4.50% | 8.17% | 1/5/2032 | 22463 | 22370 | 22463 | 3.35 |
| &nbsp;&nbsp;&nbsp;Databricks Inc (Delayed Draw) <sup>(7)</sup> | 1M S + 4.50% | N/A | 1/5/2032 |  | (114) |  |  |
| &nbsp;&nbsp;&nbsp;LeadVenture, Inc (Term Loan) | 3M S + 5.00% | 8.70% | 6/23/2032 | 49666 | 48983 | 48176 | 7.17 |
| &nbsp;&nbsp;&nbsp;LeadVenture, Inc (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | 8.70% | 6/23/2032 | 3873 | 3783 | 3588 | 0.53 |
| &nbsp;&nbsp;&nbsp;LeadVenture, Inc (Revolver) <sup>(7)</sup> | 3M S + 5.00% | 8.67% | 6/23/2032 | 216 | 152 | 73 | 0.01 |
|  |  |  |  |  | 75174 | 74300 | 11.06 |
| **Specialty Retail**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Spotless Brands, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | 8.66% | 7/25/2028 | 4119 | 4039 | 3901 | 0.58 |
|  |  |  |  |  | 4039 | 3901 | 0.58 |
| **Telecommunication Services**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;CCI Buyer, Inc. (Term Loan) | 3M S + 5.00% | 8.70% | 5/13/2032 | 27387 | 27140 | 27250 | 4.05 |
| &nbsp;&nbsp;&nbsp;CCI Buyer, Inc. (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 5/13/2032 |  | (14) | (8) | - |
|  |  |  |  |  | 27126 | 27242 | 4.05 |
| **Textiles, Apparel & Luxury Goods**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Colorescience Inc (Revolver) <sup>(7)</sup> | 3M S + 4.75% | N/A | 1/23/2032 |  | (29) | (30) |  |
| &nbsp;&nbsp;&nbsp;Kravet Inc. (Term Loan) | 3M S + 5.00% | 8.70% | 11/26/2030 | 26261 | 25942 | 25966 | 3.86 |
| &nbsp;&nbsp;&nbsp;Kravet Inc. (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/26/2030 |  | (62) | (59) | (0.01) |
|  |  |  |  |  | 25851 | 25877 | 3.85 |
| **Trading Companies and Distributors**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Radwell Parent, LLC (Term Loan) | 3M S + 4.75% | 8.45% | 4/1/2030 | 9162 | 9139 | 9139 | 1.36 |
| &nbsp;&nbsp;&nbsp;Radwell Parent, LLC (Term Loan 1st Amendment) | 3M S + 4.75% | 8.45% | 4/1/2030 | 896 | 893 | 893 | 0.13 |
| &nbsp;&nbsp;&nbsp;Radwell Parent, LLC (Delayed Draw 2024 Term Loan) | 3M S + 4.75% | 8.45% | 4/1/2030 | 928 | 926 | 926 | 0.14 |
| &nbsp;&nbsp;&nbsp;Radwell Parent, LLC(Delayed Draw 2026 4th Amendment Term Loan) <sup>(7)</sup> | 3M S + 4.75% | N/A | 4/1/2030 |  | (17) | (17) |  |
| &nbsp;&nbsp;&nbsp;Radwell Parent, LLC (Revolver) <sup>(7)</sup> | 3M S + 4.75% | 8.45% | 4/1/2030 | 242 | 240 | 240 | 0.04 |
|  |  |  |  |  | 11181 | 11181 | 1.67 |
| **Total First Lien Secured Debt** |  |  |  |  | $1328502 | $1321518 | 196.65% |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund** 

**Consolidated Schedules of Investments (Unaudited) (Continued)** 

**March 31, 2026** 

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Second Lien Secured Debt <sup>(4)(6)</sup>** |  |  |  |  |  |  |  |
| **Software**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;SolarWinds Holdings, Inc. (Term Loan) | 3M S + 6.00% | 9.67% | 4/18/2033 | 31000 | $29976 | $26389 | 3.93% |
|  |  |  |  |  | 29976 | 26389 | 3.93 |
| **Total Second Lien Secured Debt** |  |  |  |  | $29976 | $26389 | 3.93% |
| **Equity <sup>(6)</sup>** |  |  |  |  |  |  |  |
| **Personal Care Products**  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Arkas Bidco Limited Equity<sup>(5)(11)(12)</sup> | N/A | N/A | N/A | 890 | 890 | 890 | 0.13 |
|  |  |  |  |  | 890 | 890 | 0.13 |
| **Total Equity** |  |  |  |  | $890 | $890 | 0.13% |
| **Investments—controlled/affiliated**  |  |  |  |  |  |  |  |
| **Investments in Joint Venture <sup>(4)(6)(9)</sup>** |  |  |  |  |  |  |  |
| SBLA Private Credit LLC <sup>(5)</sup> | N/A | N/A | N/A | 64625 | 64625 | 64209 | 9.55 |
| **Total Investments in Joint Venture** |  |  |  |  | $64625 | $64209 | 9.55 |
| **Total Investments<sup>(8)</sup>** |  |  |  |  | $1423993 | $1413006 | 210.26% |

---

<sup>(1)</sup> Unless otherwise indicated, investments held by the Company are denominated in USD dollars. All investments are income producing unless otherwise indicated.

<sup>(2)</sup> Unless otherwise indicated, loan contains a variable rate structure, and may be subject to an interest rate floor. Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to either the Secured Overnight Financing Rate ("SOFR" or "S"), ("PRIME" or "P"), ("BBSY" or "B"), and ("EURIBOR" or "E") or an alternate base rate (commonly based on the U.S. Prime Rate ("P")), which generally resets periodically. For each loan, the Company has indicated the reference rate used (including any adjustments per the loan agreements), and provided the spread and interest rate in effect as of March 31, 2026.

<sup>(3)</sup> The cost represents the original cost adjusted for the accretion of discounts and amortization of premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

<sup>(4)</sup> Unless otherwise indicated, issuers of investments held by the Company are domiciled in the United States.

<sup>(5)</sup> Investments that the Company has determined are not "qualifying assets" under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any nonqualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act is subject to change. The Company monitors the status of these assets on an ongoing basis. As of March 31, 2026, non-qualifying assets represented approximately 9% of the total assets of the Company.

<sup>(6)</sup> All investments are valued using unobservable inputs (Level 3), unless otherwise noted (see *"Note 2 - Summary of Significant Accounting Policies"* and *"Note 4 - Investments"*).

<sup>(7)</sup> Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair value result from the unfunded commitment being valued below par and/or unamortized fees, which are capitalized to the investment cost. See below for more information on the Company's unfunded commitments:

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | |
|:---|:---|:---|
| **Investments** | **Maturity Date** | **Unfunded** |
| AA&D Midco Inc (Revolver) | 11/29/2030 | $3320 |
| AA&D Midco Inc (Revolver) | 11/29/2030 | 1970 |
| Accel International Holdings Inc (Revolver) | 4/26/2032 | 2162 |
| Accordion Partners LLC (Delayed Draw) | 11/17/2031 | 17399 |
| Accordion Partners LLC (Revolver) | 11/17/2031 | 3764 |
| Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan B) | 6/28/2030 | 192 |
| Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan C) | 6/28/2030 | 520 |
| AMP Purchaser LLC (Revolver) | 4/1/2033 | 2771 |
| Aprio Advisory Group, LLC (Delayed Draw) | 8/1/2031 | 48820 |
| Aprio Advisory Group, LLC (Revolver) | 8/1/2031 | 2639 |
| Association Resource Group, LLC (Delayed Draw) | 2/2/2033 | 22030 |
| Association Resource Group, LLC (Revolver) | 2/2/2033 | 6294 |
| BCM One, Inc. (Revolver) | 11/17/2027 | 1530 |
| Cards-Live Oak Holdings, Inc. (Delayed Draw) | 10/21/2032 | 4578 |
| Cards-Live Oak Holdings, Inc. (Revolver) | 10/21/2032 | 2146 |
| CCI Buyer, Inc. (Revolver) | 5/13/2032 | 1607 |
| Centaur Holdings III LLC (Delayed Draw) | 9/5/2031 | 3145 |
| Centaur Holdings III LLC (Revolver) | 9/5/2031 | 3040 |
| ClubCorp Holdings, Inc. (Delayed Draw) | 7/9/2032 | 4596 |
| Colorescience Inc (Revolver) | 1/23/2032 | 2993 |
| ComPsych Investment Corp. (Delayed Draw) | 7/22/2031 | 7778 |
| Continental Buyer Inc (Delayed Draw) | 4/2/2031 | 1095 |
| Continental Buyer Inc (Revolver) | 4/2/2031 | 5325 |
| Databricks Inc (Delayed Draw) | 1/5/2032 | 38600 |
| Dwyer Instruments, Inc (Revolver) | 7/20/2029 | 1155 |
| Electro Methods (Revolver) | 2/23/2032 | 7090 |
| Empower Payments Investor, LLC (Delayed Draw) | 3/12/2031 | 9705 |
| eShipping LLC (Delayed Draw) | 12/23/2032 | 12469 |
| eShipping LLC (Revolver) | 12/23/2032 | 5845 |
| Falcon Parent Holdings Inc (Delayed Draw) | 11/6/2031 | 2825 |
| Falcon Parent Holdings Inc (Revolver) | 11/6/2031 | 3191 |
| Forge Borrower, LLC (Delayed Draw) | 1/31/2033 | 2500 |
| Forge Borrower, LLC (Revolver) | 1/31/2033 | 500 |
| Frozen Garlic Bread Holdings Inc (Delayed Draw) | 2/6/2032 | 6626 |
| Frozen Garlic Bread Holdings Inc (Revolver) | 2/6/2032 | 4417 |
| Genova Diagnostics, Inc. (Revolver) | 12/23/2030 | 968 |
| ICAT Intermediate Holdings LLC (Delayed Draw) | 3/1/2029 | 7176 |
| ICAT Intermediate Holdings LLC (Revolver) | 3/1/2029 | 2095 |
| JFL-Atomic AcquisitionCo, Inc. (Delayed Draw) | 2/20/2031 | 11738 |
| JFL-Atomic AcquisitionCo, Inc. (Revolver) | 2/20/2031 | 6264 |
| Kravet Inc. (Revolver) | 11/26/2030 | 5284 |
| LeadVenture, Inc (Delayed Draw) | 6/23/2032 | 5619 |
| LeadVenture, Inc (Revolver) | 6/23/2032 | 4538 |
| Leg Purchaser Inc (Revolver) | 1/12/2032 | 3318 |
| Lighthouse Technologies Holding Corp (Revolver) | 12/31/2029 | 1149 |
| LR Purchaser LLC (Revolver) | 3/19/2031 | 4848 |
| MAI Capital Management Intermediate LLC (Revolver) | 8/29/2031 | 1362 |
| Meta Buyer LLC (Delayed Draw 2025 Term Loan USD) | 12/22/2031 | 6842 |
| Meta Buyer LLC (Revolver) | 12/22/2031 | 5704 |
| MGS Mfg. Group, Inc. (Delayed Draw) | 12/31/2028 | 3806 |
| MGS Mfg. Group, Inc. (Revolver) | 12/31/2028 | 1844 |
| NDT Global Holding Inc. (Delayed Draw) | 6/4/2032 | 17624 |
| Pearl Acquisition Buyer, Inc. (Delayed Draw) | 12/31/2032 | 10960 |
| Pearl Acquisition Buyer, Inc. (Revolver) | 12/31/2032 | 3545 |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | |
|:---|:---|:---|
| **Investments** | **Maturity Date** | **Unfunded** |
| Qualus Power Services Corp (Incremental Delayed Draw Term Loan 2 2025) | 3/28/2028 | $5500 |
| Qualus Power Services Corp (Incremental Delayed Draw Term Loan 2025) | 3/27/2031 | 1018 |
| Radwell Parent, LLC (Revolver) | 4/1/2030 | 520 |
| Radwell Parent, LLC(Delayed Draw 2026 4th Amendment Term Loan) | 4/1/2030 | 3434 |
| Rental Equipment Investment Co. (Revolver) | 10/8/2030 | 4427 |
| RJW Logistics Group, Inc (Delayed Draw 2024) | 11/26/2031 | 491 |
| RJW Logistics Group, Inc (Delayed Draw 2025) | 11/26/2031 | 2899 |
| Schoeneck Containers, LLC (Revolver) | 5/7/2028 | 2983 |
| SMG Operating CO LLC (Delayed Draw) | 12/5/2030 | 5900 |
| SMG Operating CO LLC (Revolver) | 12/5/2030 | 4100 |
| Solve Industrial Motion Group LLC (Delayed Draw) | 6/30/2027 | 18683 |
| Spark Buyer, LLC (Delayed Draw) | 10/15/2031 | 18750 |
| Spark Buyer, LLC (Revolver) | 10/15/2031 | 5156 |
| Spotless Brands, LLC (Delayed Draw) | 7/25/2028 | 17721 |
| TransnetYX, Inc (Revolver) | 4/13/2027 | 2167 |
| Uptime Institute (Revolver) | 1/12/2027 | 2188 |
| Vacation Rental Brands, LLC (Delayed Draw) | 5/6/2032 | 9060 |
| Vacation Rental Brands, LLC (Revolver) | 5/6/2032 | 5462 |
| World Insurance Associates, LLC (Delayed Draw) | 4/3/2030 | 1948 |
| World Insurance Associates, LLC (Revolver) | 4/3/2030 | 250 |
| **Total** |  | $**461978** |

---

 <sup>(8)</sup> Unless otherwise indicated, all securities are pledged as collateral to our SMBC Revolving Credit Facility ("SMBC Revolving Credit Facility"), our ABL Credit Facility with Bank of America ("BofA ABL Credit Facility) or ABL Credit Facility with RBC ("RBC ABL Credit Facility") as defined in "Note 5 - Debt". As such, these securities are not available as collateral to our general creditors.

<sup>(9)</sup> Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the "1940 Act"), the Company is deemed to "control" a portfolio company if the Company owns more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. Under the 1940 Act, the Company is deemed an "affiliated person" of a portfolio company if the Company owns 5% or more of the portfolio company's outstanding voting securities. As of March 31, 2026, the Company's controlled/affiliated investments, and their related transactions, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fair Value as of January 1, <br> 2026** | **Gross Additions** | **Gross Reductions** | **Net <br> Change in <br> Unrealized <br> appreciation/<br> (depreciation)** | **Net <br> Realized <br> Gain <br> (Loss)** | **Fair Value <br> as of <br> March <br> 31, <br> 2026** | **Dividend Income** |
| **Controlled/Affiliated Investments** | | | | | | | |
| SBLA Private Credit LLC | $61606 | $3033 | $- | $(430) | $- | $64209 | $1816 |
| **Total** | $61606 | $3033 | $- | $(430) | $- | $64209 | $1816 |

---

<sup>(10)</sup> Investment is valued using quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices unobservable inputs (Level 2), (see "Note 2 - Summary of Significant Accounting Policies" and "Note 4 - Investments").

<sup>(11)</sup> The issuer of this investment is domiciled in the United Kingdom.

<sup>(12)</sup> Non-income producing security.

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

The following shows the composition of the Company's portfolio at fair value by industry and geography as of March 31, 2026.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Industry** | **First Lien Secured Debt** | **Second Lien Secured Debt** | **Equity** | **Joint Venture** | **Total** | **Percentage of Total<br> Investments at Fair Value** |
| Aerospace & Defense | $98492 | $- | $- | $- | $98492 | 6.97% |
| Air Freight & Logistics | 120551 |  |  |  | 120551 | 8.53% |
| Building Materials | 13253 |  |  |  | 13253 | 0.94% |
| Commercial Services & Supplies | 117041 |  |  |  | 117041 | 8.28% |
| Construction & Engineering | 28668 |  |  |  | 28668 | 2.03% |
| Containers & Packaging | 418 |  |  |  | 418 | 0.03% |
| Electrical Equipment | 124892 |  |  |  | 124892 | 8.84% |
| Financial Services | 19303 |  |  |  | 19303 | 1.37% |
| Food Products | 34233 |  |  |  | 34233 | 2.42% |
| Health Care Equipment & Supplies | 18479 |  |  |  | 18479 | 1.31% |
| Health Care Providers & Services | 132213 |  |  |  | 132213 | 9.35% |
| Hotels, Restaurants & Leisure | 26465 |  |  |  | 26465 | 1.87% |
| Industrial Conglomerates | 11845 |  |  |  | 11845 | 0.84% |
| Insurance | 3004 |  |  |  | 3004 | 0.21% |
| Investments in Joint Venture |  |  |  | 64209 | 64209 | 4.54% |
| IT Services | 95086 |  |  |  | 95086 | 6.73% |
| Life Sciences Tools & Services | 11495 |  |  |  | 11495 | 0.81% |
| Machinery | 88857 |  |  |  | 88857 | 6.29% |
| Personal Care Products | 28302 |  | 890 |  | 29192 | 2.07% |
| Pharmaceuticals | 52713 |  |  |  | 52713 | 3.73% |
| Professional Services | 89756 |  |  |  | 89756 | 6.35% |
| Real Estate Management & Development | 63951 |  |  |  | 63951 | 4.53% |
| Software | 74300 | 26389 |  |  | 100689 | 7.13% |
| Specialty Retail | 3901 |  |  |  | 3901 | 0.28% |
| Telecommunication Services | 27242 |  |  |  | 27242 | 1.93% |
| Textiles, Apparel & Luxury Goods | 25877 |  |  |  | 25877 | 1.83% |
| Trading Companies and Distributors | 11181 | - | - | - | 11181 | 0.79% |
| **Total** | $**1321518** | $**26389** | $**890** | $**64209** | $**1413006** | **100%** |

---

---

| | | |
|:---|:---|:---|
| **Geography** | **Fair Value** | **Percentage of Total<br> Investments at Fair Value** |
| United States | $1383814 | 97.9% |
| United Kingdom | 29192 | 2.1 |
| **Total** | $**1413006** | **100.0%** |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments**

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Investments-non-controlled/non-affiliated** |  |  |  |  |  |  |  |
| **First Lien Secured Debt<sup>(4)(6)</sup>** |  |  |  |  |  |  |  |
| **Aerospace & Defense** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accel International Holdings Inc (Term Loan) | 1M S + 4.50% | 8.22% | 4/26/2032 | $12568 | $12506 | $12568 | 2.38% |
| &nbsp;&nbsp;&nbsp;Accel International Holdings Inc (Revolver) <sup>(7)</sup> | 1M S + 4.50% | N/A | 4/26/2032 |  | (10) |  |  |
| &nbsp;&nbsp;&nbsp;Applied Aerospace Structures Corp. (Term Loan) | 3M S + 4.50% | 8.17% | 11/29/2030 | 37887 | 37577 | 37508 | 7.10 |
| &nbsp;&nbsp;&nbsp;Applied Aerospace Structures Corp. (Delayed Draw 2024) | 3M S + 4.50% | 8.35% | 11/29/2030 | 16026 | 15896 | 15865 | 3.00 |
| &nbsp;&nbsp;&nbsp;Applied Aerospace Structures Corp. (Delayed Draw 2025)<sup>(7)</sup> | 3M S + 4.50% | N/A | 11/29/2030 |  | (61) | (126) | (0.02) |
| &nbsp;&nbsp;&nbsp;Applied Aerospace Structures Corp. (Revolver) <sup>(7)</sup> | 3M S + 4.50% | N/A | 11/29/2030 |  | (71) | (84) | (0.01) |
| &nbsp;&nbsp;&nbsp;Electro Methods (Term Loan) | 3M S + 4.75% | 8.62% | 2/23/2032 | 29396 | 29000 | 29286 | 5.55 |
| &nbsp;&nbsp;&nbsp;Electro Methods (Revolver) <sup>(7)</sup> | 3M S + 4.75% | N/A | 2/23/2032 |  | (94) | (27) | (0.01) |
|  |  |  |  |  | 94743 | 94990 | 17.99 |
| **Air Freight & Logistics** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;eShipping LLC (Term Loan) | 3M S + 4.50% | 8.19% | 12/23/2032 | 33043 | 32878 | 32878 | 6.24 |
| &nbsp;&nbsp;&nbsp;eShipping LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.50% | N/A | 12/23/2032 |  | (31) | (31) | (0.01) |
| &nbsp;&nbsp;&nbsp;eShipping LLC (Revolver) <sup>(7)</sup> | 3M S + 4.50% | 8.19% | 12/23/2032 | 779 | 748 | 748 | 0.14 |
| &nbsp;&nbsp;&nbsp;ICAT Intermediate Holdings LLC (Term Loan) | 1M S + 6.25% | 9.97% | 3/1/2029 | 27507 | 27122 | 27095 | 5.13 |
| &nbsp;&nbsp;&nbsp;ICAT Intermediate Holdings LLC (Delayed Draw) <sup>(7)</sup> | 1M S + 6.25% | 9.97% | 3/1/2029 | 3450 | 3330 | 3243 | 0.61 |
| &nbsp;&nbsp;&nbsp;ICAT Intermediate Holdings LLC (Revolver) <sup>(7)</sup> | 1M S + 6.25% | N/A | 3/1/2029 |  | (29) | (31) | (0.01) |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Term Loan 2024) | 3M S + 5.00% | 8.67% | 11/26/2031 | 34633 | 34326 | 34329 | 6.50 |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Term Loan 2025) | 3M S + 5.00% | 8.67% | 11/26/2031 | 17101 | 16936 | 16952 | 3.21 |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Delayed Draw 2024) <sup>(7)</sup> | 3M S + 5.00% | 8.67% | 11/26/2031 | 2945 | 2931 | 2915 | 0.55 |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Delayed Draw 2025) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/26/2031 |  | (14) | (25) | - |
|  |  |  |  |  | 118197 | 118073 | 22.36 |
| **Building Materials** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;CP Atlas Buyer, Inc. (Term Loan) <sup>(10)</sup> | 1M S + 5.25% | 8.97% | 7/8/2030 | 14364 | 13841 | 13933 | 2.64 |
|  |  |  |  |  | 13841 | 13933 | 2.64 |
| **Commercial Services & Supplies** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Alliance Technical Group (Term Loan) | 3M S + 4.50% | 8.17% | 12/1/2032 | 33158 | 32992 | 32992 | 6.25 |
| &nbsp;&nbsp;&nbsp;Alliance Technical Group (Delayed Draw) <sup>(7)</sup> | 3M S + 4.50% | N/A | 12/1/2032 |  | (28) | (28) | (0.01) |
| &nbsp;&nbsp;&nbsp;Alliance Technical Group (Revolver) <sup>(7)</sup> | 3M S + 4.50% | 8.17% | 12/1/2030 | 313 | 292 | 292 | 0.06 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Term Loan 2024) | 3M S + 5.25% | 8.92% | 6/28/2030 | 6944 | 6882 | 6885 | 1.30 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Term Loan 2025 2nd Amendment) | 3M S + 5.25% | 8.92% | 6/28/2030 | 383 | 377 | 379 | 0.07 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Term Loan 2025 3rd Amendment) | 3M S + 5.25% | 8.92% | 6/28/2030 | 311 | 306 | 308 | 0.06 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Delayed Draw 2024) | 3M S + 5.25% | 8.92% | 6/28/2030 | 424 | 421 | 420 | 0.08 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan B) <sup>(7)</sup> | 3M S + 5.25% | 8.92% | 6/28/2030 | 123 | 118 | 117 | 0.02 |
| &nbsp;&nbsp;&nbsp;Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan C) <sup>(7)</sup> | 3M S + 5.25% | N/A | 6/28/2030 |  | (4) | (5) |  |
| &nbsp;&nbsp;&nbsp;Cards-Live Oak Holdings, Inc. (Term Loan) | 3M S + 4.75% | 8.42% | 10/21/2032 | 18025 | 17937 | 17937 | 3.40 |
| &nbsp;&nbsp;&nbsp;Cards-Live Oak Holdings, Inc. (Delayed Draw)<sup>(7)</sup> | 3M S + 4.75% | N/A | 10/21/2032 |  | (17) | (17) |  |
| &nbsp;&nbsp;&nbsp;Cards-Live Oak Holdings, Inc. (Revolver) <sup>(7)</sup> | 3M P + 3.75% | 8.42% | 10/21/2032 | 1144 | 1128 | 1128 | 0.21 |
| &nbsp;&nbsp;&nbsp;JFL-Atomic AcquisitionCo, Inc. (Term Loan) | 3M S + 4.75% | 8.64% | 2/20/2031 | 46120 | 45499 | 45543 | 8.62 |
| &nbsp;&nbsp;&nbsp;JFL-Atomic AcquisitionCo, Inc. (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% | 8.64% | 2/20/2031 | 8301 | 8113 | 8050 | 1.52 |
| &nbsp;&nbsp;&nbsp;JFL-Atomic AcquisitionCo, Inc. (Revolver) <sup>(7)</sup> | 3M S + 4.75% | N/A | 2/20/2031 |  | (78) | (78) | (0.01) |
|  |  |  |  |  | 113938 | 113923 | 21.57 |
| **Construction & Engineering** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Term Loan) | 3M S + 4.25% | 8.04% | 3/27/2031 | 2509 | 2497 | 2496 | 0.47 |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Delayed Draw 2024) | 3M S + 4.50% | 8.34% | 3/27/2028 | 24978 | 24813 | 24853 | 4.71 |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Delayed Draw 2025 Term Loan) <sup>(7)</sup> | 3M S + 4.25% | 8.04% | 3/27/2031 | 1490 | 1481 | 1478 | 0.28 |
| &nbsp;&nbsp;&nbsp;Qualus Power Services Corp (Delayed Draw 2025 Term Loan 2)<sup>(7)</sup> | 3M S + 4.50% | N/A | 3/28/2028 |  | (13) | (28) | (0.01) |
|  |  |  |  |  | 28778 | 28799 | 5.45 |
| **Consumer Discretionary** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Spotless Brands, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | 8.79% | 7/25/2028 | 3156 | 3071 | 2992 | 0.57 |
|  |  |  |  |  | 3071 | 2992 | 0.57 |
| **Containers & Packaging** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Schoeneck Containers, LLC (Term Loan) | 1M S + 4.10% | 7.93% | 5/7/2028 | 9122 | 9122 | 9122 | 1.73 |
| &nbsp;&nbsp;&nbsp;Schoeneck Containers, LLC (Delayed Draw) | 1M S + 4.10% | 7.93% | 5/7/2028 | 4660 | 4660 | 4660 | 0.88 |
| &nbsp;&nbsp;&nbsp;Schoeneck Containers, LLC (Revolver) <sup>(7)</sup> | 1M S + 4.10% | N/A | 5/7/2028 |  | - | - | - |
|  |  |  |  |  | 13782 | 13782 | 2.61 |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Electrical Equipment** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Centaur Holdings III LLC (Term Loan) | 3M S + 4.75% | 8.42% | 9/5/2031 | $34066 | $33737 | $33726 | 6.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Centaur Holdings III LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% | 8.42% | 9/5/2031 | 2096 | 2061 | 2044 | 0.39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Centaur Holdings III LLC (Revolver) <sup>(7)</sup> | 3M S + 4.75% | 8.42% | 9/5/2031 | 1572 | 1532 | 1530 | 0.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maverick Power, LLC (Term Loan) | 3M S + 5.00% | 8.89% | 5/4/2031 | 21922 | 21593 | 21593 | 4.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;Spark Buyer, LLC (Term Loan) | 3M S + 5.25% | 9.13% | 10/15/2031 | 46406 | 45802 | 42810 | 8.10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Spark Buyer, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.25% | N/A | 10/15/2031 |  | (117) | (1453) | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;Spark Buyer, LLC (Revolver) <sup>(7)</sup> | 3M S + 5.25% | 9.13% | 10/15/2031 | 3188 | 3070 | 2461 | 0.47 |
|  |  |  |  |  | 107678 | 102711 | 19.45 |
| **Health Care Equipment & Supplies** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Term Loan) | 1M S + 4.50% | 8.32% | 5/31/2027 | 3271 | 3271 | 3271 | 0.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Delayed Draw) | 1M S + 4.50% | 8.32% | 5/31/2027 | 2663 | 2663 | 2663 | 0.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Revolver) <sup>(7)</sup> | 1M P + 3.50% | 8.32% | 5/31/2027 | 547 | 547 | 547 | 0.10 |
|  |  |  |  |  | 6481 | 6481 | 1.23 |
| **Health Care Providers & Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Continental Buyer Inc (Term Loan 2024) | 1M S + 4.50% | 8.22% | 4/2/2031 | 44689 | 44160 | 44466 | 8.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;Continental Buyer Inc (Term Loan 2025) | 1M S + 4.50% | 8.22% | 4/2/2031 | 5751 | 5723 | 5722 | 1.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;Continental Buyer Inc (Delayed Draw) <sup>(7)</sup> | 1M S + 4.50% | N/A | 4/2/2031 |  | (3) | (5) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Continental Buyer Inc (Revolver) <sup>(7)</sup> | 1M S + 4.50% | N/A | 4/2/2031 |  | (57) | (27) | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;Falcon Parent Holdings Inc (Term Loan) | 3M S + 5.00% | 8.89% | 11/6/2031 | 35869 | 35507 | 35286 | 6.68 |
| &nbsp;&nbsp;&nbsp;&nbsp;Falcon Parent Holdings Inc (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/6/2031 |  | (71) | (46) | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;Falcon Parent Holdings Inc (Revolver) <sup>(7)</sup> | 3M S + 5.00% | 8.89% | 11/6/2031 | 262 | 209 | 194 | 0.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;Genova Diagnostics, Inc. (Term Loan) | 3M S + 6.75% | 10.42% | 12/23/2030 | 12677 | 12330 | 12330 | 2.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;Genova Diagnostics, Inc. (Delayed Draw) <sup>(7)</sup> | 3M S + 6.75% | N/A | 12/23/2030 |  | (19) | (19) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Genova Diagnostics, Inc. (Revolver) <sup>(7)</sup> | 3M S + 6.75% | N/A | 12/23/2030 |  | (26) | (26) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SMG Operating CO LLC (Term Loan) | 1M S + 5.00% | 8.78% | 12/5/2030 | 33200 | 32708 | 32708 | 6.19 |
| &nbsp;&nbsp;&nbsp;&nbsp;SMG Operating CO LLC (Delayed Draw) <sup>(7)</sup> | 1M S + 5.00% | N/A | 12/5/2030 |  | (44) | (44) | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;SMG Operating CO LLC (Revolver) <sup>(7)</sup> | 1M S + 5.00% | N/A | 12/5/2030 |  | (61) | (61) | (0.01) |
|  |  |  |  |  | 130356 | 130478 | 24.71 |
| **Hotels, Restaurants & Leisure** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Excursions Buyer, LLC (Term Loan) | 3M S + 5.50% | 9.17% | 11/21/2031 | 16386 | 16225 | 16225 | 3.07 |
|  |  |  |  |  | 16225 | 16225 | 3.07 |
| **Insurance** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;World Insurance Associates, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | 8.67% | 4/3/2030 | 2808 | 2792 | 2764 | 0.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;World Insurance Associates, LLC (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 4/3/2030 |  | (1) | (2) | - |
|  |  |  |  |  | 2791 | 2762 | 0.52 |
| **IT Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BCM One, Inc. (Term Loan) | 6M S + 4.50% | 8.20% | 11/17/2027 | 9575 | 9575 | 9575 | 1.81 |
| &nbsp;&nbsp;&nbsp;&nbsp;BCM One, Inc. (Delayed Draw) | 6M S + 4.50% | 8.20% | 11/17/2027 | 4713 | 4713 | 4713 | 0.89 |
| &nbsp;&nbsp;&nbsp;&nbsp;BCM One, Inc. (Revolver) <sup>(7)</sup> | 6M S + 4.50% | N/A | 11/17/2027 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GCOM (Term Loan) | 3M S + 7.50% | 11.63% | 8/21/2028 | 38950 | 38655 | 38950 | 7.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Security 101 (Term Loan) | 3M S + 5.00% | 8.67% | 4/11/2028 | 77267 | 76665 | 77267 | 14.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;Security 101 (Incremental Term Loan) | 3M S + 5.00% | 8.74% | 4/11/2028 | 7925 | 7846 | 7925 | 1.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;Security 101 (Delayed Draw) | 3M S + 5.00% | 8.76% | 4/11/2028 | 5944 | 5890 | 5944 | 1.13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Security 101 (Incremental Delayed Draw) | 3M S + 5.00% | 8.67% | 4/11/2028 | 11917 | 11799 | 11917 | 2.26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Security 101 (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 4/11/2028 |  | (45) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Uptime Institute (Term Loan) | 1M S + 5.00% | 8.55% | 1/12/2027 | 15915 | 15815 | 15855 | 3.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;Uptime Institute (Revolver) <sup>(7)</sup> | 1M S + 5.00% | N/A | 1/12/2027 |  | - | (8) | - |
|  |  |  |  |  | 170913 | 172138 | 32.60 |
| **Life Sciences Tools & Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;TransnetYX, Inc (Term Loan) | 3M S + 4.75% | 8.42% | 4/13/2027 | 13312 | 13312 | 13312 | 2.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;TransnetYX, Inc (Revolver) <sup>(7)</sup> | 3M S + 4.75% | N/A | 4/13/2027 |  | - | - | - |
|  |  |  |  |  | 13312 | 13312 | 2.52 |
| **Machinery** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Rental Equipment Investment Co. (Term Loan) | 3M S + 4.50% | 8.17% | 10/8/2030 | 4667 | 4611 | 4608 | 0.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rental Equipment Investment Co. (Revolver) <sup>(7)</sup> | 3M S + 4.50% | 8.17% | 10/8/2030 | 1813 | 1750 | 1747 | 0.33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Solve Industrial Motion Group LLC (Term Loan) | 1M S + 4.50% | 8.34% | 6/30/2027 | 2346 | 2313 | 2313 | 0.44 |
| &nbsp;&nbsp;&nbsp;&nbsp;Solve Industrial Motion Group LLC (Delayed Draw) <sup>(7)</sup> | 1M S + 4.75% | 8.51% | 6/30/2027 | 25801 | 25601 | 25601 | 4.85 |
|  |  |  |  |  | 34275 | 34269 | 6.49 |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Personal Care Products** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Arkas Bidco Limited (Term Loan) <sup>(5) (11)</sup> | 3M S + 6.00% | 9.87% | 9/4/2032 | $28915 | $28345 | $28345 | 5.37% |
|  |  |  |  |  | 28345 | 28345 | 5.37 |
| **Pharmaceuticals** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Buyer LLC (Term Loan) | 3M E + 5.25% | 7.29% | 12/22/2031 | 16804 | 19480 | 19551 | 3.70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Buyer LLC (Term Loan) | 3M S + 5.25% | 8.95% | 12/22/2031 | 14102 | 13962 | 13962 | 2.64 |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Buyer LLC (Term Loan) | 3M B + 5.25% | 9.02% | 12/22/2031 | 19782 | 12947 | 13070 | 2.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Buyer LLC (Delayed Draw) <sup>(7)</sup> | 3M B + 5.25% | N/A | 12/22/2031 |  | (65) | (65) | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Buyer LLC (Revolver) <sup>(7)</sup> | 3M B + 5.25% | N/A | 12/22/2031 |  | (57) | (57) | (0.01) |
|  |  |  |  |  | 46267 | 46461 | 8.80 |
| **Professional Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accordion Partners LLC (Term Loan) | 3M S + 5.00% | 8.70% | 11/17/2031 | 30769 | 30693 | 30693 | 5.81 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accordion Partners LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/17/2031 |  | (57) | (57) | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accordion Partners LLC (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/17/2031 |  | (19) | (19) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aprio Advisory Group, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% | N/A | 8/1/2031 |  | (243) | (243) | (0.05) |
| &nbsp;&nbsp;&nbsp;&nbsp;Aprio Advisory Group, LLC (Revolver) <sup>(7)</sup> | 3M S + 4.75% | N/A | 8/1/2031 |  | (39) | (39) | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;ComPsych Investment Corp. (Term Loan) | 3M S + 4.75% | 8.61% | 7/22/2031 | 15018 | 14987 | 15018 | 2.84 |
| &nbsp;&nbsp;&nbsp;&nbsp;ComPsych Investment Corp. (Delayed Draw) <sup>(7)</sup> | 3M S + 4.75% | N/A | 7/22/2031 |  | (8) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lighthouse Technologies Holding Corp (Term Loan) | 1M S + 5.00% | 8.72% | 12/31/2029 | 8400 | 8400 | 8400 | 1.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lighthouse Technologies Holding Corp (Term Loan) | 1M S + 5.00% | 8.72% | 12/31/2029 | 16927 | 16843 | 16843 | 3.19 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lighthouse Technologies Holding Corp (Revolver) <sup>(7)</sup> | 1M S + 5.00% | N/A | 12/31/2029 |  | (6) | (6) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vensure Employer Services Inc (Term Loan) | 3M S + 5.00% | 8.67% | 9/29/2031 | 12166 | 12108 | 12121 | 2.30 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vensure Employer Services Inc (Delayed Draw) <sup>(7)</sup> | 3M S + 5.00% | N/A | 9/29/2031 |  | (8) | (2) | - |
|  |  |  |  |  | 82651 | 82709 | 15.66 |
| **Real Estate Management & Development** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Term Loan) | 3M S + 5.25% | 8.92% | 5/6/2032 | 56841 | 56314 | 56273 | 10.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Incremental Term Loan) | 3M S + 5.25% | 8.92% | 5/6/2032 | 4256 | 4215 | 4214 | 0.80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Delayed Draw) <sup>(7)</sup> | 3M S + 5.25% | N/A | 5/6/2032 |  | (17) | (18) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Delayed Draw 2025 2nd Amendment) <sup>(7)</sup> | 3M S + 5.25% | N/A | 5/6/2032 |  | (54) | (111) | (0.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;Vacation Rental Brands, LLC (Revolver) <sup>(7)</sup> | 3M S + 5.25% | N/A | 5/6/2032 |  | (51) | (55) | (0.01) |
|  |  |  |  |  | 60407 | 60303 | 11.43 |
| **Software** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Databricks Inc (Term Loan) | 1M S + 4.50% | 8.27% | 1/3/2031 | 20313 | 20227 | 20313 | 3.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;Databricks Inc (Delayed Draw) <sup>(7)</sup> | 1M S + 4.50% | N/A | 1/3/2031 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;LeadVenture, Inc (Term Loan) | 3M S + 5.25% | 8.92% | 6/23/2032 | 49791 | 49086 | 49293 | 9.34 |
| &nbsp;&nbsp;&nbsp;&nbsp;LeadVenture, Inc (Delayed Draw) <sup>(7)</sup> | 3M S + 5.25% | 8.92% | 6/23/2032 | 3130 | 3041 | 3035 | 0.57 |
| &nbsp;&nbsp;&nbsp;&nbsp;LeadVenture, Inc (Revolver) <sup>(7)</sup> | 3M S + 5.25% | 8.92% | 6/23/2032 | 951 | 885 | 903 | 0.17 |
|  |  |  |  |  | 73239 | 73544 | 13.93 |
| **Telecommunication Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;CCI Buyer, Inc. (Term Loan) | 3M S + 5.00% | 8.67% | 5/13/2032 | 27456 | 27201 | 27456 | 5.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;CCI Buyer, Inc. (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 5/13/2032 |  | (15) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Clearwave Fiber (Revolver) <sup>(7)</sup> | 3M S + 4.00% | 7.82% | 12/13/2029 | 7662 | 7542 | 7617 | 1.44 |
|  |  |  |  |  | 34728 | 35073 | 6.64 |
| **Textiles, Apparel & Luxury Goods** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Kravet Inc. (Term Loan) | 3M S + 5.00% | 8.67% | 11/26/2030 | 26335 | 26002 | 26105 | 4.94 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kravet Inc. (Revolver) <sup>(7)</sup> | 3M S + 5.00% | N/A | 11/26/2030 |  | (65) | (46) | (0.01) |
|  |  |  |  |  | 25937 | 26059 | 4.93 |
| **Total First Lien Secured Debt** |  |  |  |  | $1219955 | $1217362 | 230.54% |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Second Lien Secured Debt <sup>(4)(6)</sup>** |  |  |  |  |  |  |  |
| **Software** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;SolarWinds Holdings, Inc. (Term Loan) | 3M S + 6.00% | 9.70% | 4/18/2033 | $31000 | $29951 | $30070 | 5.69% |
|  |  |  |  |  | 29951 | 30070 | 5.69 |
| **Total Second Lien Secured Debt** |  |  |  |  | $29951 | $30070 | 5.69% |
| **Equity <sup>(6)</sup>** |  |  |  |  |  |  |  |
| **Personal Care Products** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Arkas Bidco Limited <sup>(5)(11)(12)</sup> | N/A | N/A | N/A | 888 | 888 | 888 | 0.17 |
| &nbsp;&nbsp;&nbsp;Arkas Bidco Limited <sup>(5)(11)(12)</sup> | N/A | N/A | N/A | 2 | 2 | 2 | - |
|  |  |  |  |  | 890 | 890 | 0.17 |
| **Total Equity** |  |  |  |  | $890 | $890 | 0.17% |
| **Investments-controlled/affiliated** |  |  |  |  |  |  |  |
| **Investments in Joint Venture <sup>(4)(6)(9)</sup>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;SBLA Private Credit LLC <sup>(5)</sup> | N/A | N/A | N/A | 61592 | 61592 | 61606 | 11.67 |
| **Total Investments in Joint Venture** |  |  |  |  | $61592 | $61606 | 11.67 |
| **Total Investments <sup>(8)</sup>** |  |  |  |  | $1312388 | $1309928 | 248.07% |

---

<sup>(1)</sup> Unless otherwise indicated, investments held by the Company are denominated in USD dollars. All investments are income producing unless otherwise indicated.

<sup>(2)</sup> Unless otherwise indicated, loan contains a variable rate structure, and may be subject to an interest rate floor. Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to either the Secured Overnight Financing Rate ("SOFR" or "S"), ("PRIME" or "P"), ("BBSY" or "B"), and ("EURIBOR" or "E") or an alternate base rate (commonly based on the U.S. Prime Rate ("P")), which generally resets periodically. For each loan, the Company has indicated the reference rate used (including any adjustments per the loan agreements), and provided the spread and interest rate in effect as of December 31, 2025.

<sup>(3)</sup> The cost represents the original cost adjusted for the accretion of discounts and amortization of premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

<sup>(4)</sup> Unless otherwise indicated, issuers of investments held by the Company are domiciled in the United States.

<sup>(5)</sup> Investments that the Company has determined are not "qualifying assets" under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any nonqualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act is subject to change. The Company monitors the status of these assets on an ongoing basis. As of December 31, 2025, non-qualifying assets represented approximately 6% of the total assets of the Company.

<sup>(6)</sup> All investments are valued using unobservable inputs (Level 3), unless otherwise noted (see *"Note 2 - Summary of Significant Accounting Policies"* and *"Note 4 - Investments"*).

<sup>(7)</sup> Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair value result from the unfunded commitment being valued below par and/or unamortized fees, which are capitalized to the investment cost. See below for more information on the Company's unfunded commitments:

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | |
|:---|:---|:---|
| **Investments** | **Maturity Date** | **Unfunded** |
| Accel International Holdings Inc (Revolver) | 4/26/2032 | $2162 |
| Accordion Partners LLC (Delayed Draw) | 11/17/2031 | 22833 |
| Accordion Partners LLC (Revolver) | 11/17/2031 | 3764 |
| Alliance Technical Group (Delayed Draw) | 12/1/2032 | 11053 |
| Alliance Technical Group (Revolver) | 12/1/2030 | 3858 |
| Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan B) | 6/28/2030 | 531 |
| Ambient Enterprises Holdco LLC, (Delayed Draw 2025 Term Loan C) | 6/28/2030 | 520 |
| Applied Aerospace Structures Corp. (Delayed Draw 2025) | 11/29/2030 | 12570 |
| Applied Aerospace Structures Corp. (Revolver) | 11/29/2030 | 1970 |
| Applied Aerospace Structures Corp. (Revolver) | 11/29/2030 | 6410 |
| Aprio Advisory Group, LLC (Delayed Draw) | 8/1/2031 | 48821 |
| Aprio Advisory Group, LLC (Revolver) | 8/1/2031 | 3958 |
| BCM One, Inc. (Revolver) | 11/17/2027 | 1530 |
| Cards-Live Oak Holdings, Inc. (Delayed Draw) | 10/21/2032 | 7153 |
| Cards-Live Oak Holdings, Inc. (Revolver) | 10/21/2032 | 2289 |
| CCI Buyer, Inc. (Revolver) | 5/13/2032 | 1607 |
| Centaur Holdings III LLC (Delayed Draw) | 9/5/2031 | 3144 |
| Centaur Holdings III LLC (Revolver) | 9/5/2031 | 2620 |
| Clearwave Fiber (Revolver) | 12/13/2029 | 4338 |
| ComPsych Investment Corp. (Delayed Draw) | 7/22/2031 | 7778 |
| Continental Buyer Inc (Delayed Draw) | 4/2/2031 | 1095 |
| Continental Buyer Inc (Revolver) | 4/2/2031 | 5325 |
| Databricks Inc (Delayed Draw) | 1/3/2031 | 4688 |
| Electro Methods (Revolver) | 2/23/2032 | 7090 |
| eShipping LLC (Delayed Draw) | 10/31/2032 | 12469 |
| eShipping LLC (Revolver) | 12/23/2032 | 5455 |
| Falcon Parent Holdings Inc (Delayed Draw) | 11/6/2031 | 2825 |
| Falcon Parent Holdings Inc (Revolver) | 11/6/2031 | 3923 |
| Genova Diagnostics, Inc. (Delayed Draw) | 12/23/2030 | 1355 |
| Genova Diagnostics, Inc. (Revolver) | 12/23/2030 | 968 |
| ICAT Intermediate Holdings LLC (Delayed Draw) | 3/1/2029 | 10351 |
| ICAT Intermediate Holdings LLC (Revolver) | 3/1/2029 | 2095 |
| JFL-Atomic AcquisitionCo, Inc. (Delayed Draw) | 2/20/2031 | 11738 |
| JFL-Atomic AcquisitionCo, Inc. (Revolver) | 2/20/2031 | 6264 |
| Kravet Inc. (Revolver) | 11/26/2030 | 5284 |
| LeadVenture, Inc (Delayed Draw) | 6/23/2032 | 6370 |
| LeadVenture, Inc (Revolver) | 6/23/2032 | 3803 |
| Lighthouse Technologies Holding Corp (Revolver) | 12/31/2029 | 1149 |
| Meta Buyer LLC (Delayed Draw) | 12/22/2031 | 13076 |
| Meta Buyer LLC (Revolver) | 12/22/2031 | 5704 |
| MGS MFG. Group, Inc. (Revolver) | 5/31/2027 | 1230 |
| Qualus Power Services Corp (Delayed Draw 2025 Term Loan 2) | 3/28/2028 | 5500 |
| Qualus Power Services Corp (Delayed Draw 2025 Term Loan) | 3/27/2031 | 1018 |
| Rental Equipment Investment Co. (Revolver) | 10/8/2030 | 3520 |
| RJW Logistics Group, Inc (Delayed Draw 2024) | 11/26/2031 | 491 |
| RJW Logistics Group, Inc (Delayed Draw 2025) | 9/23/2032 | 2899 |
| Schoeneck Containers, LLC (Revolver) | 5/7/2028 | 3409 |
| Security 101 (Revolver) | 4/11/2028 | 5958 |
| SMG Operating CO LLC (Delayed Draw) | 12/5/2030 | 5900 |
| SMG Operating CO LLC (Revolver) | 12/5/2030 | 4100 |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Continued)**

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | |
|:---|:---|:---|
| **Investments** | **Maturity Date** | **Unfunded** |
| Solve Industrial Motion Group LLC (Delayed Draw) | 6/30/2027 | $18684 |
| Spark Buyer, LLC (Delayed Draw) | 10/15/2031 | 18750 |
| Spark Buyer, LLC (Revolver) | 10/15/2031 | 6188 |
| Spotless Brands, LLC (Delayed Draw) | 7/25/2028 | 18693 |
| TransnetYX, Inc (Revolver) | 4/13/2027 | 2167 |
| Uptime Institute (Revolver) | 1/12/2027 | 2188 |
| Vacation Rental Brands, LLC (Delayed Draw 2025 2nd Amendment) | 5/6/2032 | 11094 |
| Vacation Rental Brands, LLC (Delayed Draw) | 5/6/2032 | 1761 |
| Vacation Rental Brands, LLC (Revolver) | 5/6/2032 | 5462 |
| Vensure Employer Services Inc (Delayed Draw) | 9/29/2031 | 625 |
| World Insurance Associates, LLC (Delayed Draw) | 4/3/2030 | 2192 |
| World Insurance Associates, LLC (Revolver) | 4/3/2030 | 250 |
| **Total** |  | $**382015** |

---

<sup>(8)</sup> Unless otherwise indicated, all securities are pledged as collateral to our SMBC Revolving Credit Facility ("SMBC Revolving Credit Facility"), our ABL Credit Facility with Bank of America ("BofA ABL Credit Facility) or ABL Credit Facility with RBC ("RBC ABL Credit Facility") as defined in "Note 5 - Debt". As such, these securities are not available as collateral to our general creditors.

<sup>(9)</sup> Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the "1940 Act"), the Company is deemed to "control" a portfolio company if the Company owns more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. Under the 1940 Act, the Company is deemed an "affiliated person" of a portfolio company if the Company owns 5% or more of the portfolio company's outstanding voting securities. As of December 31, 2025, the Company's controlled/affiliated investments, and their related transactions for the period ended, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fair Value as of January 1,<br> 2025** | **Gross<br> Additions** | **Gross<br> Reductions** | **Net<br> Change in<br> Unrealized<br> appreciation/<br> (depreciation)** | **Net<br> Realized<br> Gain<br> (Loss)** | **Fair Value<br> as of<br> December<br> 31, <br> 2025** | **Dividend<br> Income** |
| **Controlled/Affiliated Investments** | | | | | | | |
| SBLA Private Credit LLC | $33221 | $28368 | $- | $17 | $- | $61606 | $5906 |
| **Total** | $33221 | $28368 | $— | $17 | $— | $61606 | $5906 |

---

<sup>(10)</sup> Investment is valued using quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices unobservable inputs (Level 2), (see "Note 2 - Summary of Significant Accounting Policies" and "Note 4 - Investments").

<sup>(11)</sup> The issuer of this investment is domiciled in the United Kingdom.

<sup>(12)</sup> Non-income producing security.

The following shows the composition of the Company's portfolio at fair value by industry and geography as of December 31, 2025.

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Consolidated Schedules of Investments (Unaudited) (Concluded)**

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Industry** | **First Lien Secured Debt** | **Second Lien Secured Debt** | **Equity** | **Joint Venture** | **Total** | **Percentage of Total<br> Investments at Fair Value** |
| Aerospace & Defense | $94990 | $- | $- | $- | $94990 | 7.25% |
| Air Freight & Logistics | 118073 |  |  |  | 118073 | 9.01% |
| Building Materials | 13933 |  |  |  | 13933 | 1.06% |
| Commercial Services & Supplies | 113923 |  |  |  | 113923 | 8.70% |
| Construction & Engineering | 28799 |  |  |  | 28799 | 2.20% |
| Consumer Discretionary | 2992 |  |  |  | 2992 | 0.23% |
| Containers & Packaging | 13782 |  |  |  | 13782 | 1.05% |
| Electrical Equipment | 102711 |  |  |  | 102711 | 7.84% |
| Health Care Equipment & Supplies | 6481 |  |  |  | 6481 | 0.49% |
| Health Care Providers & Services | 130478 |  |  |  | 130478 | 9.96% |
| Hotels, Restaurants & Leisure | 16225 |  |  |  | 16225 | 1.24% |
| Insurance | 2762 |  |  |  | 2762 | 0.21% |
| Investments in Joint Venture |  |  |  | 61606 | 61606 | 4.70% |
| IT Services | 172138 |  |  |  | 172138 | 13.15% |
| Life Sciences Tools & Services | 13312 |  |  |  | 13312 | 1.02% |
| Machinery | 34269 |  |  |  | 34269 | 2.62% |
| Personal Care Products | 28345 |  | 890 |  | 29235 | 2.23% |
| Pharmaceuticals | 46461 |  |  |  | 46461 | 3.55% |
| Professional Services | 82709 |  |  |  | 82709 | 6.31% |
| Real Estate Management & Development | 60303 |  |  |  | 60303 | 4.60% |
| Software | 73544 | 30070 |  |  | 103614 | 7.91% |
| Telecommunication Services | 35073 |  |  |  | 35073 | 2.68% |
| Textiles, Apparel & Luxury Goods | 26059 | - | - | - | 26059 | 1.99% |
| **Total** | $**1217362** | $**30070** | $**890** | $**61606** | $**1309928** | **100%** |

---

---

| | | |
|:---|:---|:---|
| **Geography** | **Fair Value** | **Percentage of Total<br> Investments at Fair Value** |
| United States | $1280693 | 97.8% |
| United Kingdom | 29235 | 2.2 |
| **Total** | $**1309928** | **100.0%** |

---

The accompanying notes are an integral part of these Consolidated Financial Statements.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**(1) ORGANIZATION**

Lord Abbett Private Credit Fund (the "Company", "we", "us" or "our") is a closed-end, non-diversified management investment company organized under the laws of the State of Delaware. The Company elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act") on October 4, 2024 (the "BDC Election Date"). The Company elected, and intends to qualify annually, to be treated for U.S. federal income tax purposes as a regulated investment company ("RIC") for U.S. federal income tax purposes as defined under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code").

The Company was formed on November 27, 2023 as Lord Abbett Private Credit Fund 1, LP and commenced investment operations on February 23, 2024. Lord Abbett Private Credit Advisor LLC is the investment adviser to the Company (the "Adviser"). The Adviser is a wholly-owned subsidiary of Lord Abbett & Co. LLC. The Adviser provides the Company with investment advisory services pursuant to the terms of an investment advisory agreement (the "Advisory Agreement"). Lord, Abbett & Co. LLC, the "Administrator" or "Lord Abbett" performs, or oversees the performance of, the Company's corporate operations and required administrative services pursuant to an administration agreement (the "Administration Agreement").

The Company's investment objective is to generate current income and, to a lesser extent, long-term capital appreciation. The Company invests in loans targeted at (i) private U.S. operating companies whose securities are not listed on a national securities exchange or registered under the Securities Exchange Act of 1934, as amended the ("Exchange Act"), and (ii) U.S. operating companies whose securities are listed on a national securities exchange that have a market capitalization of less than $250 million.

On January 8, 2024, the Company established Lord Abbett Private Credit Funding 1, LLC ("Lord Abbett PCF I LLC"), a wholly-owned subsidiary of the Company and a Delaware limited liability company that is a disregarded entity for tax purposes, to acquire investments in the State of California.

On August 30, 2024 (the "Conversion Date"), Lord Abbett Private Credit Fund 1, LP filed a certificate of conversion with the state of Delaware to convert from a limited partnership to a Delaware statutory trust and changed its name to Lord Abbett Private Credit Fund. Effective September 30, 2024, all limited partnership interests were converted into common shares, formalizing the unitization of Lord Abbett Private Credit Fund. On this date 5,080,444 shares were issued and outstanding at a par value of $0.01.

On December 2, 2024, the Company established Lord Abbett PCF Financing LLC ("PCF Financing"), a wholly-owned subsidiary of the Company and a Delaware limited liability company that is a disregarded entity for tax purposes, to hold investment collateral in connection with a credit facility.

On April 4, 2025, the Company established Lord Abbett PCF Financing 2 LLC ("PCF Financing 2"), a wholly-owned subsidiary of the Company and a Delaware limited liability company that is a disregarded entity for tax purposes, to hold investment collateral in connection with a credit facility.

**(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

The following is a summary of the significant accounting and reporting policies used in preparing the Consolidated Financial Statements.

**Basis of Presentation**

The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The Company is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946 and pursuant to Regulation S-X. The functional currency is the U.S. dollar ("USD") and these Consolidated Financial Statements have been prepared in that currency.

**Use of Estimates**

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income, expenses, gains and losses during the reported periods. Changes in the economic environment, financial markets, credit worthiness of our portfolio companies, and any other parameters used in determining these estimates could cause actual results to differ.

**Consolidation**

As provided under Regulation S-X and ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company's wholly-owned subsidiaries in the Consolidated Financial Statements. All intercompany balances and transactions have been eliminated in consolidation.

The Company does not consolidate SBLA Private Credit LLC (the "SBLA JV"). See *"Note 4 - Investments"* for further description of the joint venture.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**Cash and Cash Equivalents**

The Company defines cash equivalents as securities that are readily convertible into known amounts of cash and near maturity and that they present insignificant risk of changes in value because of changes in interest rates. Foreign currencies are deposits with the custodian that are maintained in a currency other than USD. Generally, only securities with a maturity of three months or less from the date of purchase would qualify, with limited exceptions. The Company deems that certain money market funds, U.S. Treasury bills, repurchase agreements, and other high-quality, short-term debt securities would qualify as cash equivalents.

Cash and cash equivalents are carried at cost, which approximates fair value. The cash and cash equivalents balance as of March 31, 2026 and December 31, 2025 was $67,747 and $120,437, respectively. The foreign currencies balance as of March 31, 2026 and December 31, 2025 was $141 and $330, respectively.

**Investment Transactions**

Investments are recognized when we assume an obligation to acquire a financial instrument and assume the risks for gains and losses related to that instrument. Investments are derecognized when we assume an obligation to sell a financial instrument and forego the risks for gains or losses related to that instrument. Specifically, we record all security transactions on a trade date basis. Amounts for investments derecognized or recognized but not yet settled are reported as a receivable for investments sold and a payable for investments purchased, respectively, in the Consolidated Statements of Assets and Liabilities.

**Fair Value Measurements**

The Company follows guidance in ASC 820, *Fair Value Measurement* ("ASC 820"), where fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are determined within a framework that establishes a three-tier hierarchy which maximizes the use of observable market data and minimizes the use of unobservable inputs to establish a classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, such as the risk inherent in a particular valuation technique used to measure fair value using a pricing model and/or the risk inherent in the inputs for the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's own assumptions about the assumptions market participants would use in pricing the asset or liability based on the information available. The inputs or methodology used for valuing assets or liabilities may not be an indication of the risks associated with investing in those assets or liabilities.

ASC 820 classifies the inputs used to measure these fair values into the following hierarchy:

Level 1: Quoted prices in active markets for identical assets or liabilities, accessible by us at the measurement date.

Level 2: Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices.

Level 3: Unobservable inputs for the asset or liability.

In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each investment. The level assigned to the investment valuations may not be indicative of the risk or liquidity associated with investing in such investments. Because of the inherent uncertainties of valuation, the values reflected in the Consolidated Financial Statements may differ materially from the values that would be received upon an actual disposition of such investments.

On April 23, 2024, the Company entered into a joint venture with Stifel Bank & Trust (the "JV partner"). The joint venture is called SBLA Private Credit LLC, or SBLA JV. In accordance with ASC 820, our investment in this JV are measured using the net asset value ("NAV") or its equivalent as a practical expedient for fair value, and have not been classified in the fair value hierarchy.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**Investment Valuation Process**

Pursuant to Rule 2a-5 of the 1940 Act, the Company's Board of Trustees (the "Board") has designated the Adviser as the valuation designee responsible for valuing all of the Company's investments, including making fair valuation determinations as needed. The Adviser has established a fair value committee (the "Fair Value Committee") to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern activities of the Fair Value Committee and the performance of functions required to determine the fair value of a fund's investments in good faith. These functions include periodically assessing and managing material risks associated with fair value determinations, selecting, applying, reviewing, and testing fair value methodologies, monitoring for circumstances that may necessitate the use of fair value, and overseeing and evaluating pricing services used.

In accordance with the Adviser's policies and procedures, investments, including debt securities, that are publicly traded but for which no readily available market quotations exist, are generally valued on the basis of information furnished by an independent third-party pricing service that uses a valuation matrix which incorporates both dealer-supplied valuations and electronic data processing techniques. To assess the continuing appropriateness of pricing sources and methodologies, the Fair Value Committee regularly performs price verification procedures on behalf of the Adviser and issues challenges as necessary to independent pricing services or brokers, and any differences are reviewed in accordance with the valuation procedures. The Adviser does not adjust the prices unless it has a reason to believe market quotations or prices received from third-party pricing services are not reflective of the fair value of an investment. Investments that are not publicly traded or whose current market prices or quotations are not readily available, as will be the case for a substantial portion of the Company's investments, are valued at fair value as determined by the Adviser in good faith pursuant to the Adviser's Board-approved policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. In determining fair value of the Company's loan investments the types of factors that the Fair Value Committee may take into account generally include comparison to publicly-traded securities and factors such as yield, maturity and measures of credit quality, the enterprise value of the portfolio company, the nature and realizable value of any collateral, the portfolio company's ability to make payments and its earnings and discounted cash flows, the markets in which the portfolio company does business and other relevant factors.

The Company has engaged an independent valuation firm to prepare month-end valuation recommendations for which market quotations are not readily available as of the last calendar day of each month. The independent valuation firm undertakes a full analysis of the investments and provides estimated fair values for such investments to the Adviser. The independent valuation firm also provides analyses to support their valuation methodology and calculations. The Adviser's Fair Value Committee reviews and approves each valuation recommendation and confirms it has been calculated in accordance with the Board-approved policies and procedures. The Fair Value Committee manages the Company's fair valuation practices and maintains the fair valuation policies and procedures. The Adviser reports to the Board information regarding the fair valuation process and related material matters. The Board may determine to modify its designation of the Adviser as valuation designee, relating to any or all Company investments, at any time.

Valuation techniques used to value the Company's investments by major category are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Investments, including private placements, for which observable inputs are not available are generally
valued using one or more valuation methods including the market approach, and the income approach. The market approach considers
factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities.
The income approach considers factors including expected future cash flows, security specific risks and corresponding discount
rates. The Company may use amortized cost as a pricing technique for investments that have recently transacted.

• Equity securities and other investments, including restricted securities, for which market quotations
are readily available, are valued at the last reported sale price or official closing price (in the case of securities and futures)
or the mean of the closing bid and offer (in the case of options) as reported by a third-party pricing service on the primary market
or exchange on which they are traded. In the event there were no sales during the day or closing prices are not available, securities
are valued at the last quoted bid price or may be valued using the last available price. For foreign equity securities, when market
or security specific events arise, comparisons to the valuation of american depositary receipts (ADRs), futures contracts, exchange-traded
funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used. For equity securities, including
restricted securities, where observable inputs are limited, assumptions about market activity and risk are used.

• Debt securities that are publicly traded, including restricted securities, are valued based on
evaluated prices received from third party pricing services or from brokers who make markets in such securities. Preferred securities
are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon,
maturity and type or by broker supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued
utilizing pricing methodologies which consider similar factors that would be used by third party pricing services.

• Investments in open-end investment companies are valued at their closing net asset value.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**Realized Gains or Losses**

Realized gains or losses on investments are calculated by using the specific identification method. Securities that have been called by the issuer are recorded at the call price on the call effective date.

**Investment Income Recognition**

 

*Interest Income*

Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations of premiums. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. The amortized cost of debt investments represents the original cost, including loan origination fees and upfront fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income in the current period.

*Payment-in-Kind ("PIK") Income*

The Company may have loans in its portfolio that contain PIK provisions. PIK represents interest that is accrued and recorded as interest income at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. Such income is included in interest income in the Company's Consolidated Statements of Operations. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest is generally reversed through interest income. To maintain the Company's status as a RIC, this non-cash source of income must be paid out to shareholders in the form of dividends, even though the Company has not yet collected cash. For the three months ended March 31, 2026 and March 31, 2025, there was $248 and $0, respectively, of PIK income.

*Dividend Income*

Dividend income on preferred equity securities and on the Company's equity interests in its joint ventures are recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies. Dividend income on the Company's equity interest in its joint venture is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected.

 

*Fee Income*

The Company may receive various fees in the ordinary course of business such as structuring, consent, waiver, amendment, syndication and other miscellaneous fees as well as fees for managerial assistance rendered by the Company to the portfolio companies. Such fees are recognized as income when earned or the services are rendered.

 

*Non-Accrual Investments*

Loans are generally placed on non-accrual status when, in management's judgment, there is sufficient doubt that all or a portion of principal or interest will be collected. Accrued interest is generally reversed when a loan is placed on non-accrual status. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management's judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management's judgment, are likely to remain current. Management may make exceptions to this treatment and determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection. As of March 31, 2026 and December 31, 2025, there were no loans on non-accrual status.

**Organizational and Offering Costs**

Organizational costs consist of costs incurred to establish the entity as a Delaware statutory trust and subsequent conversion to a BDC. Organizational costs are expensed as incurred.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**Deferred Financing Costs**

Financing costs incurred in connection with the Company's credit facilities are capitalized and amortized into expense using the straight-line method, which approximates the effective yield method over the life of the facility. See *"Note 5 - Debt."*

The Company records origination and other expenses related to its debt obligations as deferred financing costs. The deferred financing cost for all outstanding debt is presented as a direct deduction from the carrying amount of the related debt liability. These expenses are deferred and amortized as part of interest expense using the straight-line method over the stated life of the obligation which approximates the effective yield method. In the event that we modify or extinguish our debt before maturity, the Company follows the guidance in ASC 470-50, *Modification and Extinguishments.* For extinguishments of our debt, any unamortized deferred financing costs are deducted from the carrying amount of the debt in determining the gain or loss from the extinguishment.

**Foreign Currency Translations**

The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the foreign exchange rate on the date of valuation. The Company's investments in foreign securities may involve certain risks, including without limitation: foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company.

**Income Taxes**

The Company recognizes the tax benefits of uncertain tax positions only where the position is "more likely than not" to be sustained assuming examination by tax authorities. The Company reviews and evaluates tax positions in its major jurisdictions and determines whether or not there are uncertain tax positions that require financial statement recognition. Based on this review, the Company has determined the major tax jurisdictions to be where the Company is organized, where the Company makes investments, and where the Company is located; however, no reserves for uncertain tax positions were recorded as of March 31, 2026 and as of December 31, 2025. The Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. As a result, no tax liability or expense, including interest and penalties, has been recorded in the Consolidated Financial Statements. Generally, the Company's U.S. federal, state, and local tax returns remain open for examination for a period of three to five years from when they are filed under varying statutes of limitations.

The Company elected to be treated as a RIC under Subchapter M of the Code with its initial taxable year ended December 31, 2024. So long as the Company maintains its status as a RIC, it generally will not pay corporate U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its shareholders as distributions.

To qualify for and maintain qualification as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its shareholders, for each taxable year, at least 90% of its "investment company taxable income" for that year, which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses.

In addition, based on the excise tax distribution requirements, the Company will be subject to a 4% non-deductible federal excise tax on undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of (1) 98% of its ordinary net income for the calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any ordinary income or capital gain net income realized, but not distributed, in prior years. For this purpose, the Company will be deemed to have distributed any income and gains on which it paid U.S. federal income tax.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**Accounting Pronouncements**

In November 2024, the FASB issued ASU 2024-03, Income Statement – *Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40)*: Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of certain costs and expenses on an interim and annual basis in the notes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact that this guidance will have on its financial statement disclosures.

**Segment Reporting**

An operating segment is defined in ASC Topic 280 - Segment Reporting, as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available.

The CODM for the Company is Lord Abbett through its Management, Investment and Operating Committees, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Company has a single operating segment based on the fact that the CODM monitors the operating results of the Company as a whole and that the Company's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Company's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Company's Consolidated Schedules of Investments, Consolidated Statements of Assets and Liabilities, Consolidated Statements of Operations, Consolidated Statements of Changes in Net Assets, Consolidated Statements of Cash Flows and Consolidated Financial Highlights.

**(3) RELATED PARTY TRANSACTIONS**

**Expense Support and Conditional Reimbursement Agreement**

On October 4, 2024, the Company entered into an Amended and Restated Expense Support and Conditional Reimbursement Agreement (the "Expense Support Agreement") with the Adviser, effective as of February 13, 2024 and pursuant to which the Adviser is able to elect to pay certain expenses of the Company on the Company's behalf (each, an "Expense Payment"), provided that no portion of the payment will be used to pay shareholders servicing and/or distribution fees of the Company. Any Expense Payment that the Adviser committed to pay is to be paid by the Adviser to the Company in any combination of cash or other immediately available funds and/or offset against amounts due from the Company to the Adviser or its affiliates no later than forty-five (45) days after such obligation was incurred.

Pursuant to the Expense Support Agreement, the Company has entered into with the Adviser, the Adviser is obligated to advance all of the Company's Other Operating Expenses (each, a "Required Expense Payment") to the effect that such expenses do not exceed 0.70% (on an annualized basis) of the Company's NAV. Any Required Expense Payment must be paid by the Adviser to the Company in any combination of cash or other immediately available funds and/or offset against amounts due from the Company to the Adviser or its affiliates. "Other Operating Expenses" means the Company's organizational and offering expenses, professional fees, trustee fees, administration fees, and other general and administrative expenses (including the Company's allocable portion of compensation, overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement, excluding the Company's base management and incentive fees owed to the Adviser, financing fees and costs (other than upfront fees on the Company's initial credit facility), brokerage commissions, placement agent fees, costs and expenses of distributing and placing the Company's common shares ("Common Shares"), extraordinary expenses and any interest expenses owed by the Company, all as determined in accordance with U.S. GAAP.

The Adviser may elect to pay, at such times as the Adviser determines, certain expenses on the Company's behalf (each, a "Voluntary Expense Payment" and together with a Required Expense Payment, the "Expense Payments"), provided that no portion of the payment will be used to pay shareholder servicing and/or distribution fees, if any, of the Company. Any Voluntary Expense Payment that the Adviser has committed to pay must be paid by the Adviser to the Company in any combination of cash or other immediately available funds no later than 45 days after such commitment was made in writing, and/or offset against amounts due from the Company to the Adviser or its affiliates.

Following any month in which Other Operating Expenses are below 0.70% (on an annualized basis) of the Company's NAV (the "Expense Cap"), the Adviser may be reimbursed (a, "Required Reimbursement Payment") for any Required Expense Payment to the extent that (i) the Other Operating Expenses, inclusive of such Required Reimbursement Payment, remain at or below the Expense Cap and (ii) the applicable Required Expense Payment was made no more than three (3) years prior to the Required Reimbursement Payment.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

Following any calendar month in which Available Operating Funds exceed the cumulative distributions accrued to the Company's shareholders based on distributions declared with respect to record dates occurring in such calendar month (the amount of such excess being hereinafter referred to as "Excess Operating Funds"), we shall pay such Excess Operating Funds, or a portion thereof, to the Adviser until such time as all Voluntary Expense Payments made by the Adviser to the Company within three (3) years prior to the last business day of such calendar month have been reimbursed. Any payments required to be made by the Company with respect to Voluntary Expense Payments shall be referred to herein as a "Voluntary Reimbursement Payment", and together with the Required Reimbursement Payments, the "Reimbursement Payments"). "Available Operating Funds" means the sum of (i) our net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) our net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to us on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above).

No Voluntary Reimbursement Payment for any calendar month shall be made if: (1) the Effective Rate of Distributions Per Share declared by the Company at the time of such Voluntary Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Voluntary Reimbursement Payment relates, (2) the Company's Operating Expense Ratio at the time of such Voluntary Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Voluntary Reimbursement Payment relates, or (3) the Company's Other Operating Expenses at the time of such Voluntary Reimbursement Payment exceeds 0.70% of the Company's NAV. "Effective Rate of Distributions Per Share" means the annualized rate (based on a 365-day year) of regular cash distributions per share exclusive of returns of capital and declared special dividends or special distributions, if any. The "Operating Expense Ratio" is calculated by dividing Operating Expenses, less organizational and offering expenses, base management and incentive fees owed to the Adviser, shareholder servicing and/or distribution fees, if any, and interest expense, by the Company's net assets. "Operating Expenses" means all of the Company's operating costs and expenses incurred, as determined in accordance with U.S. GAAP for investment companies.

The Company's obligation to make a Reimbursement Payment shall automatically become a liability of the Company on the last business day of the applicable calendar month, except to the extent the Adviser has waived its right to receive such payment for the applicable month.

The Expense Support Agreement is effective until October 4, 2026 and will renew automatically for successive one-year terms thereafter unless either the Company or the Adviser determines to terminate it and so notifies the other party. Either the Company or the Adviser may terminate the Expense Support Agreement at any time, with or without notice, without the payment of any penalty, provided that any Expense Payments that have not been reimbursed by the Company to the Adviser will remain the obligation of the Company following any such termination, subject to the terms of the Expense Support Agreement.

Based on the terms described above, the Company may be obligated to make Reimbursement Payments to the Adviser in accordance with the Expense Support Agreement.

The following table presents a cumulative summary of the expense payments and reimbursement payments as of March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **For the Quarter Ended** | **Required Expense<br> Payments by<br> Adviser** | **Required<br> Reimbursement<br> Payments to Adviser** | **Unreimbursed<br> Expense Payments** | **Reimbursement Eligibility<br> Expiration** |
| March 31, 2024 | $232 | $- | $232 | March 31, 2027 |
| June 30, 2024 | 832 |  | 832 | June 30, 2027 |
| September 30, 2024 | 572 |  | 572 | September 30, 2027 |
| December 31, 2024 | 949 |  | 949 | December 31, 2027 |
| March 31, 2025 | 353 |  | 353 | March 31, 2028 |
| June 30, 2025 | 280 |  | 280 | June 30, 2028 |
| September 30, 2025 | 680 |  | 680 | September 30, 2028 |
| December 31, 2025 | 2424 |  | 2424 | December 31, 2028 |
| March 31, 2026 | 135 | - | 135 | March 31, 2029 |
| **Total** | $**6457** | $**-** | $**6457** |  |

---

**Due to / Due From Affiliate**

For the three months ended March 31, 2026 and March 31, 2025, in accordance with the Expense Support Agreement, the Required Expense Payments by the Adviser were $135 and $353, respectively, for certain expenses incurred. As of March 31, 2026 and December 31, 2025, $12 and $1,012, respectively, remains receivable from the Adviser and are included in Due from affiliate on the Consolidated Statements of Assets and Liabilities. As of March 31, 2026 and December 31, 2025, the Company had $270 and $2,157, respectively, of expenses which are owed to the Adviser, and are included in Due to affiliate on the Consolidated Statements of Assets and Liabilities.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**Management fee**

Prior to the BDC Election Date, the Company did not incur management fees. Following the BDC Election Date, the Company began to accrue management fees. The management fee is payable monthly in arrears at an annual rate of 1.00% of the value of the Company's net assets as of the beginning of the first calendar day of the applicable month, adjusted for any share issuances or repurchases during the applicable month. For purposes of the Advisory Agreement, net assets mean the Company's total assets less liabilities determined on a consolidated basis in accordance with U.S. GAAP. For the three months ended March 31, 2026 and March 31, 2025, the Company incurred $1,629 and $432, in management fees, respectively, net of voluntary management fees waived. As of March 31, 2026 and December 31, 2025, $562 and $441 of management fees, respectively, were unpaid and are included in management fees payable on the Consolidated Statements of Assets and Liabilities.

**Incentive Fees**

The incentive fee will consist of two components that are independent of each other, with the result that one component may be payable even if the other is not. A portion of the incentive fee is based on a percentage of our income and a portion is based on a percentage of our capital gains, each as described below.

*Incentive Fee Based on Income*

The portion based on our income is based on Pre-Incentive Fee Net Investment Income Returns attributable to our Common Shares. "Pre-Incentive Fee Net Investment Income Returns" means dividends, cash interest or other distributions or other cash income and any third-party fees received from portfolio companies such as upfront fees, commitment fees, origination fee, amendment fees, ticking fees and break-up fees, as well as prepayments premiums, but excluding fees for providing managerial assistance and fees earned by the Adviser or an affiliate accrued during the month, minus operating expenses for the month (including the management fee, taxes, any expenses payable under the Advisory Agreement and an Administration Agreement with our Administrator, any expense of securitizations, and interest expense or other financing fees and any dividends paid on preferred stock, but excluding the Incentive Fee and shareholder servicing and/or distribution fees, if any). Shareholders may be charged a fee on an income amount that is higher than the income shareholders may ultimately receive. Pre-Incentive Fee Net Investment Income Returns includes, in the case of investments with a deferred interest feature (such as original issue discount, debt instruments with PIK interest and zero-coupon securities), accrued income that we have not yet received in cash. Pre-Incentive Fee Net Investment Income Returns do not include any realized capital gains, realized capital losses, or unrealized gain (loss).

Pre-Incentive Fee Net Investment Income Returns, expressed as a rate of return on the value of our net assets at the end of the immediate preceding quarter, adjusted for any Share issuances or repurchases during the applicable quarter in which the Incentive Fee is calculated, is compared to a "hurdle rate" of return of 1.50% per quarter (6.00% annualized).

We will pay the Adviser an incentive fee quarterly in arrears with respect to our Pre-Incentive Fee Net Investment Income Returns in each calendar quarter as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• No incentive fee based on Pre-Incentive Fee Net Investment Income Returns in any calendar quarter in which our Pre-Incentive Fee Net Investment Income Returns do not exceed the hurdle rate of 1.50% per quarter (6.00% annualized);

• 100% of the dollar amount of our Pre-Incentive Fee Net Investment Income Returns, if any, that exceeds the hurdle rate but is less than a rate of return of 1.71% (6.84% annualized). We refer to this portion of our Pre-Incentive Fee Net Investment Income Returns (which exceeds the hurdle rate but is less than 1.71%) as the "catch-up." The "catch-up" is meant to provide the Adviser with approximately 12.5% of our Pre-Incentive Fee Net Investment Income Returns as if a hurdle rate did not apply if this net investment income exceeds 1.71% in any calendar quarter; and

• 12.5% of the dollar amount of our Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.71% (6.84% annualized). This reflects that once the hurdle rate is reached and the catch-up is achieved, 12.5% of all Pre-Incentive Fee Net Investment Income Returns thereafter are allocated to the Adviser.

These calculations are pro-rated for any period of less than three (3) months and adjusted for any share issuances or repurchases during the relevant quarter.

Prior to the BDC Election Date, the Company did not incur incentive fees. Following the BDC Election Date, the Company began to accrue incentive fees. For the three months ended March 31, 2026 and March 31, 2025, income based incentive fees were $2,428 and $979, respectively. As of March 31, 2026 and December 31, 2025, $2,428 and $2,073, respectively, of income based incentive fees were unpaid and are included in Income incentive fees payable on the Consolidated Statements of Assets and Liabilities.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

*Incentive Fee Based on Capital Gains*

The second component of the incentive fee, the capital gains incentive fee, is payable at the end of each calendar year in arrears. The amount payable equals:

&nbsp;&nbsp;&nbsp;&nbsp;• 12.5% of cumulative realized capital gains from the BDC Election Date through the end of such calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid Incentive Fee on capital gains as calculated in accordance with U.S. GAAP.

Each year, the fee paid for the capital gains incentive fee is net of the aggregate amount of any previously paid capital gains incentive fee for all prior periods. We will accrue, but will not pay, a capital gains incentive fee with respect to unrealized appreciation because a capital gains incentive fee would be owed to the Adviser if we were to sell the relevant investment and realize a capital gain. In no event will the capital gains incentive fee payable pursuant to the Advisory Agreement be in excess of the amount permitted by the Advisers Act, including Section 205 thereof.

For purposes of computing the Company's incentive fee on income and the incentive fee on capital gains, the calculation methodology will look through derivative financial instruments or swaps as if we owned the reference assets directly. The fees that are payable under the Advisory Agreement for any partial period will be appropriately prorated.

Prior to the BDC Election Date, the Company did not incur incentive fees. Following the BDC Election Date, the Company began to accrue incentive fees. For the three months ended March 31, 2026 and March 31, 2025, the Company accrued capital gains based incentive fees of $0 and $44, respectively. The accrual for any capital gains incentive fees under U.S. GAAP in a given period may result in an additional expense if such cumulative amount is greater than in the prior period or a reduction of previously recorded expense if such cumulative amount is less in the prior period. If such cumulative amount is negative, then there is no accrual. As of March 31, 2026 and December 31, 2025, there is no capital gains incentive fees payable on the Consolidated Statements of Assets and Liabilities.

**Administration Fees**

From time to time, the Adviser, the Administrator or their affiliates may pay third-party providers of goods or services. Unless such expenses are specifically assumed by the Adviser, Administrator or their affiliates under the Advisory Agreement or Administration Agreement, as applicable, the Company will reimburse the Adviser, the Administrator or such affiliates thereof for any such amounts paid on the Company's behalf. From time to time, the Adviser or the Administrator may defer or waive fees and/or rights to be reimbursed for expenses.

The Company will pay the Administrator a fee payable monthly in arrears at an annual rate of 0.25% of the value of the Company's net assets as of the beginning of the first calendar day of the applicable month, adjusted for any share issuances or repurchases during the applicable month.

Prior to the BDC Election Date, the Company did not incur administration fees. Following the BDC Election Date, the Company began to accrue administration fees. For the three months ended March 31, 2026 and March 31, 2025, the Company incurred $407 and $150, respectively, of administration fees, which are included in the accompanying Consolidated Statements of Operations. As of March 31, 2026 and December 31, 2025, Administration fees payable was $140 and $110, respectively.

**Controlled/Affiliated Companies**

Under the 1940 Act, the Company is required to separately identify non-controlled investments where it owns 5% or more of a portfolio company's outstanding voting securities and/or has the power to exercise control over the management or policies of such portfolio company as investments in "affiliated" companies. In addition, under the 1940 Act, the Company is required to separately identify investments where it owns more than 25% of a portfolio company's outstanding voting securities and/or has the power to exercise control over the management or policies of such portfolio company as investments in "controlled" companies. Under the 1940 Act, "non-affiliated investments" are defined as investments that are neither controlled investments nor affiliated investments. Detailed information with respect to the Company's non-controlled, non-affiliated; non-controlled, affiliated; and controlled affiliated investments is contained in the accompanying Consolidated Financial Statements, including the Consolidated Schedule of Investments. The Company has made investments in a joint venture that has been considered a controlled/affiliated company. For further description, see *"Note 4 - Investments"*.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**(4) INVESTMENTS**

**Fair Value Measurement and Disclosures**

The following table shows the composition of the Company's investment portfolio as of March 31, 2026, with the fair value disaggregated into the three levels of the fair value hierarchy in accordance with ASC 820:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Fair Value Hierarchy** | **Fair Value Hierarchy** | **Fair Value Hierarchy** | |
|  |<br>**Cost** |<br>**Fair Value** | **Level 1** | **Level 2** | **Level 3** |<br>**Measured at**<br> **Net Asset**<br> **Value <sup>(1)</sup>** |
| First Lien Secured Debt | $1328502 | $1321518 | $- | $13253 | $1308265 | $- |
| Second Lien Secured Debt | 29976 | 26389 |  |  | 26389 |  |
| Investments in Equity | 890 | 890 |  |  | 890 |  |
| Investments in Joint Venture | 64625 | 64209 | - | - | - | 64209 |
| **Total Investments at Fair Value** | $1423993 | $1413006 | $- | $13253 | $1335544 | $64209 |

---

<sup>(1)</sup> In accordance with ASC 820, the Company's investment in SBLA JV is measured using the net asset value (or its equivalent) as a practical expedient for fair value and has not been classified in the fair value hierarchy.

The following table shows the composition of the Company's investment portfolio as of December 31, 2025, with the fair value disaggregated into the three levels of the fair value hierarchy in accordance with ASC 820:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Fair Value Hierarchy** | **Fair Value Hierarchy** | **Fair Value Hierarchy** | |
|  |<br>**Cost** |<br>**Fair Value** | **Level 1** | **Level 2** | **Level 3** |<br>**Measured at<br> Net Asset<br> Value <sup>(1)</sup>** |
| First Lien Secured Debt | $1219955 | $1217362 | $- | $13933 | $1203429 | $- |
| Second Lien Secured Debt | 29951 | 30070 |  |  | 30070 |  |
| Investments in Equity | 890 | 890 |  |  | 890 |  |
| Investments in Joint Venture | 61592 | 61606 | - | - | - | 61606 |
| **Total Investments at Fair Value** | $1312388 | $1309928 | $- | $13933 | $1234389 | $61606 |

---

<sup>(1)</sup> In accordance with ASC 820, the Company's investment in SBLA JV is measured using the net asset value (or its equivalent) as a practical expedient for fair value and has not been classified in the fair value hierarchy.

The following table presents changes in the fair value of the Company's investments for which Level 3 inputs were used to determine the fair value for the three months ended March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the three months ended March 31, 2026** | **For the three months ended March 31, 2026** | **For the three months ended March 31, 2026** |
|  | **First Lien Secured Debt** | **Second Lien Secured Debt** | **Equity** |
| **Fair value, beginning of period** | $1203429 | $30070 | $890 |
| Purchases | 269622 |  |  |
| Payment-in-kind interest income capitalized | 252 |  |  |
| Sales and repayments | (163038) |  |  |
| Net (amortization) accretion on investments | 1664 | 25 |  |
| Net realized gains (losses) on investments | 58 |  |  |
| Net change in unrealized gains (losses) on investments | (3722) | (3706) |  |
| Transfers out of Level 3<sup>(1)</sup> |  |  |  |
| Transfers into Level 3<sup>(1)</sup> | - | - | - |
| **Fair value, end of period** | $**1308265** | $**26389** | $**890** |
| **Net change in unrealized gains (losses) on Level 3 investments still held as of March 31, 2026** | $**(2749)** | $**(3706)** | $**-** |

---

<sup>(1)</sup> For the three months ended March 31, 2026 there were no transfers out of/into Level 3.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

The following table presents changes in the fair value of the Company's investments for which Level 3 inputs were used to determine the fair value for the three months ended March 31, 2025:

---

| | |
|:---|:---|
|  | **For the three months<br> ended March 31, 2025** |
|  | **First Lien Secured Debt** |
| **Fair value, beginning of period** | $439367 |
| Purchases | 151409 |
| Sales and repayments | (33754) |
| Net (amortization) accretion on investments | 676 |
| Net realized gains (losses) on investments | 12 |
| Net change in unrealized gains (losses) on investments | 256 |
| Transfers out of Level 3<sup>(1)</sup> |  |
| Transfers into Level 3<sup>(1)</sup> | - |
| **Fair value, end of period** | $**557966** |
| **Net change in unrealized gains (losses) on Level 3 investments still held as of March 31, 2025** | $**798** |

---

<sup>(1)</sup> For the three months ended March 31, 2025 there were no transfers out of/into Level 3.

The following tables summarize the significant unobservable inputs the Company used to value its investments categorized within Level 3 as of March 31, 2026 and December 31, 2025. In addition to the techniques and inputs noted in the tables below, according to our valuation policy, we may also use other valuation techniques and methodologies when determining our fair value measurements. The below tables are not intended to be all-inclusive, but rather provide information on the significant unobservable inputs as they relate to the Company's determination of fair values.

The unobservable inputs used in the fair value measurement of our Level 3 investments as of March 31, 2026, were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Category** | **Fair Value** | **Valuation Techniques/Methodologies** | **Unobservable Input** | **Range** | **Weighted Average <sup>(1)</sup>** |
| First Lien Secured Debt | $967670 | Income Approach | Discount Rate | 7.71% - 11.94% | 9.14%&nbsp;&nbsp;&nbsp;&nbsp; |
| First Lien Secured Debt | 340595 | Market Approach | Transaction Price | n/a | n/a |
| Second Lien Secured Debt | 26389 | Income Approach | Discount Rate | 12.47% - 13.47% | 12.97% |
| Investments in Equity | 890 | Market Approach | Transaction Price | n/a | n/a |
| **Total Level 3 Investments** | $**1335544** |  |  |  |  |

---

The unobservable inputs used in the fair value measurement of the Company's Level 3 investments as of December 31, 2025, were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Category** | **Fair Value** | **Valuation Techniques/Methodologies** | **Unobservable Input** | **Range** | **Weighted Average <sup>(1)</sup>** |
| First Lien Secured Debt | $876531 | Income Approach | Discount Rate | 7.23% - 11.25% | 8.72%&nbsp;&nbsp;&nbsp;&nbsp; |
| First Lien Secured Debt | 326898 | Market Approach | Transaction Price | n/a | n/a |
| Second Lien Secured Debt | 30070 | Income Approach | Discount Rate | 9.94% - 10.44% | 10.19% |
| Investments in Equity | 890 | Market Approach | Transaction Price | n/a | n/a |
| **Total Level 3 Investments** | $**1234389** |  |  |  |  |

---

<sup>(1)</sup> Weighted averages are calculated based on fair value of investments.

The significant unobservable input used in the market approach is the transaction price to acquire the position. There has been no change to the valuation based on the underlying assumptions used at the closing of such transaction. The significant unobservable inputs used in the income approach is the discount rate. The discount rate is used to discount the estimated future cash flows, which include both future principal and interest payments expected to be received from the underlying investment. An increase/decrease in the discount rate would result in a decrease/increase, respectively, in the fair value. There have been no material changes to the valuation approaches utilized during the three months ended March 31, 2026 or the year ended December 31, 2025.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**Joint Venture** 

On April 23, 2024, the Company entered into a joint venture with Stifel Bank & Trust (the "JV partner"), which was amended and restated on May 5, 2025. The joint venture is called SBLA Private Credit LLC (the "SBLA JV"). On October 9, 2024, the SBLA JV established SBLA Private Credit Funding, LLC, a wholly-owned subsidiary of the SBLA JV and a Delaware limited liability company that is a disregarded entity for tax purposes, to hold investment collateral in connection with a credit facility.

The Company and the JV partner have $140 million and $20 million, respectively, in total commitments to SBLA JV, with targeted member ownership interests of approximately 87.5% and 12.5%, respectively. The Company and the JV partner have equal voting rights with respect to the SBLA JV and the SBLA JV's general partner. The SBLA JV will not be consolidated in the Company's Consolidated Financial Statements. As of March 31, 2026 and December 31, 2025, the Company had $140 million and $140 million of commitments to the SBLA JV, respectively, of which $75.8 million and $78.4 million, respectively, were unfunded.

The following table presents the consolidated schedule of investments of the SBLA JV as of March 31, 2026:

**SBLA Private Credit LLC**

**Consolidated Schedule of Investments**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par Amount/<br> Common<br> Units** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **First Lien Secured Debt<sup>(4)(5)</sup>** |  |  |  |  |  |  |  |
| **Aerospace & Defense**  |  |  |  |  |  |  |  |
| Accel International Holdings Inc (Term Loan) | 1M S + 4.50% | 8.17% | 4/26/2032 | $12000 | $12000 | $12000 | 16.35% |
| Unical Aviation Inc (Term Loan) | 1M S + 3.75% | 7.42% | 10/31/2029 | 7841 | 7771 | 7802 | 10.63 |
|  |  |  |  |  | 19771 | 19802 | 26.98 |
| **Air Freight & Logistics**  |  |  |  |  |  |  |  |
| RJW Logistics Group, Inc (Term Loan) | 3M S + 5.00% | 8.70% | 11/26/2031 | 12000 | 11899 | 11865 | 16.17 |
|  |  |  |  |  | 11899 | 11865 | 16.17 |
| **Automobile Components**  |  |  |  |  |  |  |  |
| ATCDT Corp (Term Loan) | 1M S + 3.50% | 7.27% | 1/25/2028 | 13623 | 13523 | 13538 | 18.45 |
|  |  |  |  |  | 13523 | 13538 | 18.45 |
| **Beverages**  |  |  |  |  |  |  |  |
| King Juice (Term Loan) | 3M S + 3.35% | 7.02% | 3/25/2027 | 1038 | 1033 | 1038 | 1.41 |
| King Juice (Revolver) <sup>(6)</sup> | 3M S + 3.35% | 7.02% | 3/25/2027 | 794 | 781 | 794 | 1.08 |
|  |  |  |  |  | 1814 | 1832 | 2.49 |
| **Commercial Services & Supplies**  |  |  |  |  |  |  |  |
| KDV Label (Term Loan) | 3M S + 3.85% | 7.52% | 6/11/2026 | 8243 | 8229 | 8170 | 11.13 |
| KDV Label (Delayed Draw) <sup>(6)</sup> | 3M S + 3.85% | 7.52% | 6/11/2026 | 541 | 539 | 511 | 0.70 |
| Meridian Waste Acquisitions, LLC (Term Loan) | 3M S + 3.38% | 7.70% | 8/30/2029 | 8759 | 8759 | 8715 | 11.88 |
| Meridian Waste Acquisitions, LLC (Delayed Draw) <sup>(6)</sup> | 3M S + 3.75% | 7.69% | 8/30/2029 | 3815 | 3815 | 3796 | 5.17 |
| Meridian Waste Acquisitions, LLC (Revolver) <sup>(6)</sup> | 3M S + 3.38% | 7.21% | 8/30/2029 | 1066 | 1066 | 1057 | 1.44 |
|  |  |  |  |  | 22408 | 22249 | 30.32 |
| **Construction & Engineering**  |  |  |  |  |  |  |  |
| Discovery Marketing And Distributing, LLC (Term Loan) | 3M S + 4.00% | 7.94% | 8/10/2027 | 16697 | 16590 | 16655 | 22.70 |
|  |  |  |  |  | 16590 | 16655 | 22.70 |

---

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par<br> Amount/<br> Common<br> Shares** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Containers & Packaging**  |  |  |  |  |  |  |  |
| Accord Buyer LLC (Term Loan) | 1M S + 4.50% | 8.27% | 5/19/2028 | $8597 | $8535 | $8361 | 11.39% |
| Accord Buyer LLC (Term Loan) <sup>(6)</sup> | 1M S + 4.50% | 8.27% | 5/19/2028 | 1360 | 1360 | 1294 | 1.76 |
| Schoeneck Containers, LLC (Term Loan) | 1M S + 4.10% | 7.88% | 5/7/2028 | 9096 | 9096 | 9073 | 12.36 |
| Schoeneck Containers, LLC (Delayed Draw) | 1M S + 4.10% | 7.88% | 5/7/2028 | 4647 | 4647 | 4635 | 6.32 |
|  |  |  |  |  | 23638 | 23363 | 31.83 |
| **Financial Services**  |  |  |  |  |  |  |  |
| Forge Borrower, LLC (Term Loan) | 3M S + 4.50% | 8.20% | 1/31/2033 | 1750 | 1733 | 1733 | 2.36 |
| Trimont Holdings LLC (Term Loan) | 3M S + 2.75% | 6.45% | 5/31/2027 | 25200 | 25042 | 24948 | 34.00 |
|  |  |  |  |  | 26775 | 26681 | 36.36 |
| **Health Care Equipment & Supplies**  |  |  |  |  |  |  |  |
| MGS Mfg. Group, Inc. (Term Loan) | 1M S + 4.50% | 8.27% | 12/31/2028 | 10024 | 10024 | 9937 | 13.54 |
| MGS Mfg. Group, Inc. (Delayed Draw) | 1M S + 4.50% | 8.27% | 12/31/2028 | 1195 | 1195 | 1185 | 1.61 |
|  |  |  |  |  | 11219 | 11122 | 15.15 |
| **Health Care Providers & Services**  |  |  |  |  |  |  |  |
| Falcon Parent Holdings Inc (Term Loan) | &nbsp;&nbsp;3MS + 5.50%<br> (incl. 2.75% PIK) | 9.17% | 11/6/2031 | 5967 | 5891 | 5855 | 7.98 |
|  |  |  |  |  | 5891 | 5855 | 7.98 |
| **Industrials**  |  |  |  |  |  |  |  |
| Madison Safety & Flow LLC (Revolver) <sup>(6)</sup> | 3M S + 2.50% | N/A | 9/26/2029 |  | - | - | - |
|  |  |  |  |  | - | - | - |
| **IT Services**  |  |  |  |  |  |  |  |
| BCM One, Inc. (Term Loan) | 6M S + 4.50% | 8.24% | 11/17/2027 | 10234 | 10234 | 10222 | 13.93 |
| BCM One, Inc. (Delayed Draw) | 1M S + 4.50% | 8.27% | 11/17/2027 | 1567 | 1567 | 1565 | 2.13 |
|  |  |  |  |  | 11801 | 11787 | 16.06 |
| **Leisure Products**  |  |  |  |  |  |  |  |
| Buffalo Games LLC (Term Loan) | 1M S + 2.50% | 6.27% | 8/31/2027 | 1717 | 1717 | 1717 | 2.34 |
|  |  |  |  |  | 1717 | 1717 | 2.34 |
| **Life Sciences Tools & Services**  |  |  |  |  |  |  |  |
| TransnetYX, Inc (Term Loan) | 3M S + 4.75% | 8.45% | 4/13/2027 | 8575 | 8575 | 8575 | 11.69 |
|  |  |  |  |  | 8575 | 8575 | 11.69 |
| **Machinery**  |  |  |  |  |  |  |  |
| Rental Equipment Investment Co. (Term Loan) | 3M S + 4.50% | 8.20% | 10/8/2030 | 24938 | 24651 | 24657 | 33.60 |
| Seakeeper Technologies LLC (Term Loan) | 3M S + 3.25% | 6.92% | 7/19/2027 | 17971 | 17859 | 17926 | 24.43 |
|  |  |  |  |  | 42510 | 42583 | 58.03 |
| **Professional Services**  |  |  |  |  |  |  |  |
| ComPsych Investment Corp. (Term Loan) | 3M S + 4.75% | 8.42% | 7/22/2031 | 11850 | 11826 | 11850 | 16.15 |
| Investor Group Services LLC (Term Loan) | 1M S + 3.25% | 7.01% | 10/21/2027 | 11920 | 11837 | 11815 | 16.10 |
| Vensure Employer Services Inc (Term Loan) | 3M S + 5.00% | 8.70% | 9/29/2031 | 11850 | 11801 | 11761 | 16.03 |
|  |  |  |  |  | 35464 | 35426 | 48.28 |
| **Real Estate Management & Development**  |  |  |  |  |  |  |  |
| Royal Property Company Borrower LLC (Term Loan) | 1M S + 3.75% | 7.42% | 2/2/2028 | 13886 | 13787 | 13834 | 18.85 |
|  |  |  |  |  | 13787 | 13834 | 18.85 |

---

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest<br> Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par Amount/<br> Common<br> Units** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br> Net Assets** |
| **Specialty Retail**  |  |  |  |  |  |  |  |
| Alliance Mobile Inc (Term Loan) | 3M S + 3.50% | 7.35% | 8/1/2028 | 2205 | 2188 | 2199 | 3.00 |
| Alliance Mobile Inc (Term Loan) | 3M S + 3.50% | 7.35% | 8/1/2028 | 14639 | 14589 | 14602 | 19.90 |
| Alliance Mobile Inc (Delayed Draw) | 3M S + 3.50% | 7.35% | 8/1/2028 | 1359 | 1359 | 1355 | 1.85 |
| M&M Thrift Management Company LLC (Term Loan) | 1M S + 2.25% | 6.02% | 12/1/2026 | 9983 | 9939 | 9945 | 13.55 |
|  |  |  |  |  | 28075 | 28101 | 38.30 |
| **Textiles, Apparel and Luxury Goods**  |  |  |  |  |  |  |  |
| Colorescience Inc (Term Loan) | 3M S + 4.75% | 8.45% | 1/23/2032 | 15103 | 14955 | 14952 | 20.38 |
|  |  |  |  |  | 14955 | 14952 | 20.38 |
| **Total First Lien Secured Debt** |  |  |  |  | $310412 | $309937 | 422.36% |
| **Total Investments at Fair Value** |  |  |  |  | $310412 | $309937 | 422.36% |

---

---

| | |
|:---|:---|
| <sup>(1)</sup> | Unless otherwise indicated, debt investments held by the SBLA JV are denominated in USD dollars and are income producing. All investments are pledged as collateral under a credit facility, unless otherwise indicated. |
| |  |
| <sup>(2)</sup> | Unless otherwise indicated, loan contains a variable rate structure, and may be subject to an interest rate floor. Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to the Secured Overnight Financing Rate ("SOFR" or "S"), which generally resets periodically. For each loan, the SBLA JV has indicated the reference rate used (including any adjustments per the loan agreements), and provided the spread and interest rate in effect as of March 31, 2026. |
| |  |
| <sup>(3)</sup> | The cost represents the original cost adjusted for the accretion of discounts and amortization of premiums, as applicable, on debt investments using the effective interest method in accordance with U.S. GAAP. |
| |  |
| <sup>(4)</sup> | Unless otherwise indicated, issuers of debt held by the SBLA JV are domiciled in the United States. |
| |  |
| <sup>(5)</sup> | All investments are valued using unobservable inputs (Level 3), unless otherwise noted (see *"Note 2 - Summary of Significant Accounting Policies"* and *"Note 4 - Investments"*). |
| |  |
| <sup>(6)</sup> | Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair value result from the unfunded commitment being valued below par and/or unamortized fees, which are capitalized to the investment cost. As of March 31, 2026, the total unfunded loan commitment was approximately $14.2 million. |

---

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

The following tables presents the consolidated schedule of investments of the SBLA JV as of December 31, 2025.

**SBLA Private Credit LLC** 

**Consolidated Schedule of Investments** 

**December 31, 2025**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference** **<br> Rate and <br> Spread<sup>(2)</sup>** | **Interest Rate<sup>(2)</sup>** | **Maturity <br> Date** | **Par Amount/<br>Common Units** | **Cost<sup>(3)</sup>** | **Fair <br> Value** | **% of <br>Net Assets** |
| First Lien Secured Debt<sup>(4)(5)</sup> |  |  |  |  |  |  |  |
| **Aerospace & Defense** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unical Aviation Inc (Term Loan) | 1M S + 3.75% | 7.47% | 10/31/2029 | $7943 | $7869 | $7898 | 11.21% |
|  |  |  |  |  | 7869 | 7898 | 11.21 |
| **Air Freight & Logistics** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;RJW Logistics Group, Inc (Term Loan) | 3M S + 5.00% | 8.67% | 11/26/2031 | 12000 | 11895 | 11895 | 16.89 |
|  |  |  |  |  | 11895 | 11895 | 16.89 |
| **Automobile Components** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;ATCDT Corp (Term Loan) | 1M S + 3.50% | 7.32% | 1/25/2028 | 13823 | 13709 | 13754 | 19.53 |
|  |  |  |  |  | 13709 | 13754 | 19.53 |
| **Beverages** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;King Juice (Term Loan) | 1M S + 4.35% | 7.22% | 3/25/2027 | 1620 | 1611 | 1620 | 2.30 |
| &nbsp;&nbsp;&nbsp;King Juice (Revolver) <sup>(6)</sup> | 1M S + 4.35% | 7.22% | 3/25/2027 | 64 | 47 | 64 | 0.09 |
|  |  |  |  |  | 1658 | 1684 | 2.39 |
| **Commercial Services & Supplies** | **Commercial Services & Supplies** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;KDV Label (Term Loan) | 1M S + 3.85% | 7.72% | 4/30/2029 | 8348 | 8317 | 8295 | 11.78 |
| &nbsp;&nbsp;&nbsp;KDV Label (Delayed Draw) <sup>(6)</sup> | 1M S + 3.85% | N/A | 4/30/2029 |  | (5) | (22) | (0.03) |
| &nbsp;&nbsp;&nbsp;Meridian Waste Acquisitions, LLC (Term Loan) | 3M S + 3.38% | 7.81% | 8/30/2029 | 8816 | 8816 | 8816 | 12.53 |
| &nbsp;&nbsp;&nbsp;Meridian Waste Acquisitions, LLC (Delayed Draw) <sup>(6)</sup> | 3M S + 3.38% | 7.88% | 8/30/2029 | 3575 | 3575 | 3575 | 5.08 |
| &nbsp;&nbsp;&nbsp;Meridian Waste Acquisitions, LLC (Revolver) <sup>(6)</sup> | 3M P + 2.25% | 9.00% | 8/30/2029 | 977 | 977 | 977 | 1.39 |
|  |  |  |  |  | 21680 | 21641 | 30.75 |
| **Construction & Engineering** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Discovery Marketing And Distributing, LLC (Term Loan) | 3M S + 4.00% | 7.91% | 8/10/2027 | 17192 | 17063 | 17128 | 24.33 |
|  |  |  |  |  | 17063 | 17128 | 24.33 |
| **Containers & Packaging** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accord Buyer LLC (Term Loan) | 1M S + 4.50% | 8.32% | 5/19/2028 | 8722 | 8652 | 8504 | 12.08 |
| &nbsp;&nbsp;&nbsp;Accord Buyer LLC (Term Loan) <sup>(6)</sup> | 1M S + 4.50% | 8.32% | 5/19/2028 | 1377 | 1377 | 1317 | 1.87 |
|  |  |  |  |  | 10029 | 9821 | 13.95 |
| **Financial Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Trimont Holdings LLC (Term Loan) | 1M S + 2.75% | 6.47% | 3/1/2030 | 25900 | 25704 | 25641 | 36.42 |
|  |  |  |  |  | 25704 | 25641 | 36.42 |
| **Health Care Equipment & Supplies** | **Health Care Equipment & Supplies** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Term Loan) | 1M S + 4.50% | 8.32% | 5/31/2027 | 10036 | 10036 | 10036 | 14.25 |
| &nbsp;&nbsp;&nbsp;MGS MFG. Group, Inc. (Delayed Draw) | 1M S + 4.50% | 8.32% | 5/31/2027 | 1197 | 1197 | 1197 | 1.70 |
|  |  |  |  |  | 11233 | 11233 | 15.95 |
| **Health Care Providers & Services** | **Health Care Providers & Services** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Falcon Parent Holdings Inc (Term Loan) | 3M S + 5.00% | 8.89% | 11/6/2031 | 5940 | 5861 | 5843 | 8.31 |
|  |  |  |  |  | 5861 | 5843 | 8.31 |
| **Industrials** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fairbank Equipment (Term Loan) | 3M S + 3.90% | 7.72% | 12/23/2026 | 9060 | 8981 | 8992 | 12.77 |
| &nbsp;&nbsp;&nbsp;Madison Safety & Flow LLC (Revolver) <sup>(6)</sup> | 3M S + 2.75% | N/A | 9/26/2029 |  | - | - | - |
|  |  |  |  |  | 8981 | 8992 | 12.77 |
| **IT Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;BCM One, Inc. (Term Loan) | 6M S + 4.50% | 8.20% | 11/17/2027 | 10263 | 10263 | 10263 | 14.58 |
| &nbsp;&nbsp;&nbsp;BCM One, Inc. (Delayed Draw) | 6M S + 4.50% | 8.80% | 11/17/2027 | 1571 | 1571 | 1571 | 2.23 |
|  |  |  |  |  | 11834 | 11834 | 16.81 |

---

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026** 

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Reference** **<br> Rate and<br> Spread<sup>(2)</sup>** | **Interest Rate<sup>(2)</sup>** | **Maturity<br> Date** | **Par Amount/<br> Common Units** | **Cost<sup>(3)</sup>** | **Fair<br> Value** | **% of<br>Net Assets** |
| **Leisure Products** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Buffalo Games LLC (Term Loan) | 1M S + 2.50% | 6.32% | 8/31/2027 | $2673 | $2673 | $2673 | 3.80% |
|  |  |  |  |  | 2673 | 2673 | 3.80 |
| **Life Sciences Tools & Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;TransnetYX, Inc (Term Loan) | 3M S + 4.75% | 8.42% | 4/13/2027 | 9931 | 9931 | 9931 | 14.11 |
|  |  |  |  |  | 9931 | 9931 | 14.11 |
| **Machinery** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Rental Equipment Investment Co. (Term Loan) | 3M S + 4.50% | 8.17% | 10/8/2030 | 25000 | 24700 | 24688 | 35.06 |
| &nbsp;&nbsp;&nbsp;Seakeeper Technologies LLC (Term Loan) | 3M S + 3.25% | 7.09% | 7/19/2027 | 17971 | 17838 | 17903 | 25.43 |
|  |  |  |  |  | 42538 | 42591 | 60.49 |
| **Professional Services** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;ComPsych Investment Corp. (Term Loan) | 3M S + 4.75% | 8.61% | 7/22/2031 | 11880 | 11855 | 11880 | 16.87 |
| &nbsp;&nbsp;&nbsp;Investor Group Services LLC (Term Loan) | 1M S + 3.25% | 7.04% | 10/21/2027 | 11920 | 11824 | 11815 | 16.78 |
| &nbsp;&nbsp;&nbsp;Vensure Employer Services Inc (Term Loan) | 3M S + 5.00% | 8.67% | 9/29/2031 | 11880 | 11829 | 11835 | 16.81 |
|  |  |  |  |  | 35508 | 35530 | 50.46 |
| **Real Estate Management & Development** | **Real Estate Management & Development** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Royal Property Company Borrower LLC (Term Loan) | 1M S + 3.75% | 7.47% | 2/2/2028 | 14076 | 13964 | 14041 | 19.94 |
|  |  |  |  |  | 13964 | 14041 | 19.94 |
| **Specialty Retail** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Alliance Mobile Inc (Term Loan) | 3M S + 3.50% | 7.32% | 8/1/2028 | 14957 | 14876 | 14882 | 21.14 |
| &nbsp;&nbsp;&nbsp;Alliance Mobile Inc (Term Loan) | 3M S + 3.50% | 7.32% | 8/1/2028 | 2251 | 2232 | 2240 | 3.18 |
| &nbsp;&nbsp;&nbsp;Alliance Mobile Inc (Delayed Draw) | 3M S + 3.50% | 7.32% | 8/1/2028 | 1396 | 1396 | 1389 | 1.97 |
| &nbsp;&nbsp;&nbsp;M&M Thrift Management Company LLC (Term Loan) | 3M S + 2.25% | 6.02% | 12/1/2026 | 10248 | 10187 | 10196 | 14.48 |
|  |  |  |  |  | 28691 | 28707 | 40.77 |
| &nbsp;&nbsp;&nbsp;**Total First Lien Secured Debt** | &nbsp;&nbsp;&nbsp;**Total First Lien Secured Debt** |  |  |  | $280821 | $280837 | 398.88% |
| &nbsp;&nbsp;&nbsp;**Total Investments at Fair Value** | &nbsp;&nbsp;&nbsp;**Total Investments at Fair Value** |  |  |  | $280821 | $280837 | 398.88% |

---

<sup>(1)</sup> Unless otherwise indicated, debt investments held by the SBLA JV are denominated in USD dollars and are income producing. All investments are pledged as collateral under a credit facility, unless otherwise indicated.

<sup>(2)</sup> Unless otherwise indicated, loan contains a variable rate structure, and may be subject to an interest rate floor. Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to the Secured Overnight Financing Rate ("SOFR" or "S"), which generally resets periodically. For each loan, the SBLA JV has indicated the reference rate used (including any adjustments per the loan agreements), and provided the spread and interest rate in effect as of December 31, 2025.

<sup>(3)</sup> The cost represents the original cost adjusted for the accretion of discounts and amortization of premiums, as applicable, on debt investments using the effective interest method in accordance with U.S. GAAP.

<sup>(4)</sup> Unless otherwise indicated, issuers of debt held by the SBLA JV are domiciled in the United States.

<sup>(5)</sup> All investments are valued using unobservable inputs (Level 3), unless otherwise noted (see *"Note 2 - Summary of Significant Accounting Policies"* and *"Note 4 - Investments"*).

<sup>(6)</sup> Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair value result from the unfunded commitment being valued below par and/or unamortized fees, which are capitalized to the investment cost. As of December 31, 2025 the total unfunded loan commitment was approximately $15.8 million.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026** 

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**SBLA Private Credit LLC**

**Consolidated Financial Statements**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

The following table presents the consolidated statements of assets and liabilities information of the SBLA JV as of March 31, 2026 and December 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
| **ASSETS** |  |  |
| Investments at fair value |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments (cost $310,412 and $280,821, respectively) | $309937 | $280837 |
| Cash and cash equivalents | 10781 | 16289 |
| Interest receivable from non-controlled/non-affiliated investments | 1257 | 1192 |
| **Total assets** | $**321975** | $**298318** |
| **LIABILITIES** |  |  |
| Debt (net of deferred financing costs $2,454 and $2,600, respectively) | $242346 | $221200 |
| Interest payable | 3610 | 3888 |
| Distribution payable | 2075 | 2304 |
| Professional fees payable | 274 | 211 |
| Due to advisor | 178 | 196 |
| Administration fees payable | 110 | 112 |
| **Total liabilities** | $**248593** | $**227911** |
| **MEMBERS' EQUITY** |  |  |
| Members' equity | $**73382** | $**70407** |
| **Total members' equity** | $**73382** | $**70407** |
| **Total liabilities and members' equity** | $**321975** | $**298318** |

---

The following table presents the consolidated statements of operations information of the SBLA JV for the three months ended March 31, 2026 and March 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **For the three months ended <br> March 31, 2026** | **For the three months ended <br> March 31, 2025** |
| **Investment income** |  |  |
| Non-controlled/non-affiliated investments: |  |  |
| &nbsp;&nbsp;&nbsp;Interest income | $6072 | $2218 |
| &nbsp;&nbsp;&nbsp;Fee income | 44 | (4) |
| **Total investment income** | $**6116** | $**2214** |
| **Expenses** |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | $3764 | $970 |
| &nbsp;&nbsp;&nbsp;Professional fees | 164 | 46 |
| &nbsp;&nbsp;&nbsp;Interest and other debt expenses |  | 158 |
| &nbsp;&nbsp;&nbsp;Administration fees | 109 |  |
| &nbsp;&nbsp;&nbsp;Other general & administrative | 3 | - |
| Total expenses | $4040 | $1174 |
| Net expenses | $4040 | $1174 |
| **Net investment income** | $**2076** | $**1040** |
| **Net realized and change in unrealized gain (loss)** |  |  |
| Net change in unrealized gain (loss): |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments | $(491) | $96 |
| Net change in unrealized gain (loss) | $(491) | $96 |
| **Net realized and change in unrealized gain (loss)** | $(491) | $96 |
| **Net increase (decrease) in net assets resulting from operations** | $**1585** | $**1136** |

---

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)** 

**March 31, 2026** 

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**(5) DEBT**

*Revolving credit facility with SMBC*

On October 29, 2024, the Company entered into a revolving credit facility (the "SMBC Revolving Credit Facility") pursuant to a Senior Secured Credit Agreement (the "SMBC Credit Agreement"), by and among the Company, as borrower, Sumitomo Mitsui Banking Corporation ("SMBC"), as administrative agent, each of the lenders and issuing banks party thereto, SMBC, as a joint lead arranger, as a joint book runner and as a syndication agent, and BofA Securities, Inc., as a joint lead arranger, as a joint book runner and as a syndication agent. The SMBC Revolving Credit Facility provides for, among other things, borrowings in U.S. dollars or certain other permitted currencies in an initial aggregate amount of up to $300 million, subject to availability under the borrowing base, with an option for the Company to elect at one or more times, subject to certain conditions, to increase the maximum committed amount up to $500 million. On October 17, 2025, the Company increased the available borrowing capacity of the SMBC Revolving Credit Facility to $325 million.

The revolving period during which the Company is permitted to borrow, repay and re-borrow advances will terminate on October 27, 2028 (the "Commitment Termination Date"). Any amounts borrowed under the SMBC Revolving Credit Facility will mature, and all accrued and unpaid interest thereunder will be due and payable, on October 29, 2029 (the "Maturity Date"). During the period from the Commitment Termination Date to the Maturity Date, the Company will be obligated to make mandatory prepayments under the SMBC Revolving Credit Facility out of the proceeds of certain asset sales and other recovery events and equity and debt issuances.

The Company may borrow amounts in U.S. dollars or certain other permitted currencies. Borrowings under the SMBC Revolving Credit Facility accrue interest at a rate per annum equal to the relevant rate plus an applicable margin of (a) with respect to any ABR Loan, (i) 0.875% per annum if the Gross Borrowing Base is less than 1.60x the Combined Debt Amount or (ii) 0.75% per annum if the Gross Borrowing Base is greater than or equal to 1.60x the Combined Debt Amount; (b) with respect to any Term Benchmark Loan, (i) 1.875% per annum if the Gross Borrowing Base is less than 1.60x the Combined Debt Amount or (ii) 1.75% per annum if the Gross Borrowing Base is greater than or equal to 1.60x the Combined Debt Amount, and (c) with respect to any RFR Loans, (i) 1.875% per annum if the Gross Borrowing Base is less than 1.60x the Combined Debt Amount or (ii) 1.75% per annum if the Gross Borrowing Base is greater than or equal to 1.60x the Combined Debt Amount. In addition, the Company will pay a non-usage fee of 0.375% on the average daily unused amount of the revolving commitments under the SMBC Revolving Credit Facility. Capitalized terms are as defined in the SMBC Credit Agreement. As of March 31, 2026 and December 31, 2025, the Company was in compliance with all covenants and other requirements of the SMBC Revolving Credit Facility.

*Revolving credit facility with Bank of America*

On August 7, 2024, the Company entered into an amendment to an existing revolving credit agreement (the "BofA Revolving Credit Facility") dated February 20, 2024, by and between the Company, as borrower, and Bank of America, as lender. The amendment, among other things, (i) reduced the applicable margin for advances to 2.35% per annum, (ii) increased the available borrowing capacity of the facility to $300 million, and (iii) extended the maturity date of the credit facility to May 14, 2025.

In connection with the BofA Revolving Credit Facility, the Company made certain customary representations and warranties and was required to comply with various covenants, reporting requirements and other customary requirements for similar facilities. In addition, the Company should not incur aggregate indebtedness in an amount (a) in excess of that permitted under the constituent documents and (b) in excess of $5 billion. The BofA Revolving Credit Facility contained customary events of default for similar financing transactions. Upon the occurrence and during the continuation of an event of default, lender may have terminated the commitments and declared the outstanding advances and all other obligations under the BofA Revolving Credit Facility immediately due and payable. On January 30, 2025, the Company terminated its BofA Revolving Credit Facility with Bank of America and repaid all outstanding principal and interest balances.

*ABL Credit Facility with Bank of America*

On January 23, 2025, PCF Financing entered into a revolving credit facility pursuant to a credit agreement (the "BofA ABL Credit Facility"), by and among PCF Financing, as borrower, the Company, as servicer, Bank of America, N.A. ("Bank of America"), as administrative agent and sole lead arranger and sole book manager, each of the lenders from time to time party thereto, and State Street Bank and Trust Company, as collateral custodian. The BofA ABL Credit Facility provides for, among other things, borrowings in U.S. dollars or certain other permitted currencies in an initial aggregate amount of up to $300 million, with an option for PCF Financing to elect, subject to certain conditions, to increase the maximum committed amount up to $400 million. On May 15, 2025, the Company increased the available borrowing capacity of the BofA ABL Credit Facility to $400 million. On November 18, 2025, the Company increased the available borrowing capacity of the BofA ABL Credit Facility to $450 million.

The revolving period during which PCF Financing is permitted to borrow, repay and re-borrow loans will terminate on January 23, 2028. Loans under the BofA ABL Credit Facility are subject to satisfaction of certain conditions, including maintenance of the required borrowing base. Any amounts borrowed under the BofA ABL Credit Facility will mature, and all accrued and unpaid interest thereunder will be due and payable, on January 23, 2030.

Borrowings under the BofA ABL Credit Facility accrue interest at a rate per annum equal to the floating rate applicable to the currency of such borrowing (which, for U.S. dollar-denominated borrowings, is three-month term SOFR), plus an applicable margin ranging from 1.60% per annum to 2.00% per annum depending on the nature of the collateral securing the advances, subject to a floor of 1.90% per annum. In addition, PCF Financing will pay a non-usage fee on the unused commitments under the facility equal to (i) during the first six months after the Closing Date (as defined in the BofA ABL Credit Facility), 0.25% per annum on such unused commitments, (ii) on and after the six month anniversary of the Closing Date and prior to the twelve month anniversary of the Closing Date, 0.50% per annum on such unused commitments and (iii) following the first twelve months after the Closing Date, 1.50% per annum on unused commitments below 50% of the total facility commitment and 0.50% per annum on remaining unused commitments.

The BofA ABL Credit Facility was amended as of October 2, 2025, which, among other things, reduced the applicable margin from a range of 1.60% to 1.85% per annum, subject to a floor of 1.80% per annum. As of March 31, 2026 and December 31, 2025, the Company was in compliance with all covenants and other requirements of the BofA ABL Credit Facility.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

 

*ABL Credit Facility with RBC Bank*

 

On December 1, 2025 (the "Closing Date"), PCF Financing 2 entered into a revolving credit facility (the "RBC ABL Credit Facility") pursuant to a Loan and Security Agreement (the "Loan Agreement"), by and among PCF Financing 2, as borrower, the Company, as collateral manager, Royal Bank of Canada ("RBC"), as administrative agent, each of the lenders from time to time party thereto, and Computershare Trust Company, N.A., as collateral agent and collateral custodian.

The RBC ABL Credit Facility provides for, among other things, borrowings in U.S. dollars or certain other permitted currencies in an initial aggregate amount of up to $300 million. The revolving period during which PCF Financing 2 is permitted to borrow, repay and re-borrow loans will terminate December 1, 2028 (the "Reinvestment Period End Date"). Loans under the RBC ABL Credit Facility are subject to satisfaction of certain conditions, including maintenance of the required borrowing base. Any amounts borrowed under the RBC ABL Credit Facility will mature, and all accrued and unpaid interest thereunder will be due and payable, on December 1, 2030 (the "Termination Date").

Borrowings under the RBC ABL Credit Facility accrue interest at a rate per annum equal to the floating rate applicable to the currency of such borrowing (which, for U.S. dollar-denominated borrowings, is daily SOFR), plus an applicable margin ranging from 1.60% per annum to 2.00% per annum depending on the nature of the collateral securing the advances, subject to a floor of 0% per annum. In addition, PCF Financing 2 will pay a non-usage fee on the unused commitments under the facility equal to (i) during the first nine months after the Closing Date, $0.00; (ii) from the nine-month anniversary of the Closing Date to and including the Reinvestment Period End Date, (a) for each day during such period that the Advances Outstanding (as defined in the Loan Agreement) on such day are less than 50% of the Facility Amount (as defined in the Loan Agreement) on such day, an amount equal to the sum of the products for each such day during such period, of (I) one divided by 360, (II) 1.25%, and (III) the positive difference between (X) 50% of the Facility Amount minus (Y) the Advances Outstanding as of each such day; (b) for each day during such period that the Advances Outstanding on such day are greater than or equal to 50% but less than 75% of the Facility Amount on such day, an amount equal to the sum of the products for each such day during such period, of (I) one divided by 360, (II) 0.75%, and (III) the positive difference between (X) 75% of the Facility Amount minus (Y) the Advances Outstanding as of each such day; and (c) for each day during such period that the Advances Outstanding on such day are greater than or equal to 75% of the Facility Amount on such day, $0.00; and (iii) from the Reinvestment Period End Date to the termination date, $0.00. As of March 31, 2026 and December 31, 2025, the Company was in compliance with all covenants and other requirements of the RBC ABL Credit Facility.

The Company's outstanding debt obligations were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
|  | **Aggregate<br> Borrowing<br> Capacity** | **Outstanding<br> Principal** | **Less<br> Unamortized Deferred<br> Financing Costs** | **Carrying Value per<br> Consolidated<br> Statement of Assets and<br> Liabilities** |
| SMBC Revolving Credit Facility | $325000 | $101922<sup>(1)</sup> | $2696 | $99226 |
| BofA ABL Credit Facility | 450000 | 409860 | 3221 | 406639 |
| RBC ABL Credit Facility | 300000 | 205924<sup>(2)</sup> | 1021 | 204903 |
| Total | $1075000 | $717706 | $6938 | $710768 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Net of $254 in unrealized appreciation related to foreign currency translations

(2) Net of $(570) in unrealized depreciation related to foreign currency translations

The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of March 31, 2026.

**Lord Abbett Private Credit Fund**

**Notes to the Consolidated Financial Statements (Unaudited) (Continued)**

**March 31, 2026**

**(in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **Aggregate<br> Borrowing<br> Capacity** | **Outstanding<br> Principal** | **Less<br> Unamortized Deferred<br> Financing Costs** | **Carrying Value per<br> Consolidated<br> Statement of Assets and<br> Liabilities** |
| SMBC Revolving Credit Facility | $325000 | $226248<sup>(1)</sup> | $2879 | $223369 |
| BofA ABL Credit Facility | 450000 | 406300 | 2298 | 404002 |
| RBC ABL Credit Facility | 300000 | 170402<sup>(2)</sup> | 723 | 169679 |
| Total | $1075000 | $802950 | $5900 | $797050 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Net of ($71) in unrealized depreciation related to foreign currency translations

(2) Net of ($123) in unrealized depreciation related to foreign currency translations

The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of December 31, 2025.

The components of interest expense for the three months ended March 31, 2026, and March 31, 2025 were as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three months ended <br> March 31, 2026** | **For the three months ended <br> March 31, 2025** |
| Borrowing interest expense | $9836 | $5069 |
| Facility unused fee | 258 | 258 |
| Amortization of deferred financing costs | 418 | 515 |
| Total | $10512 | $5842 |

---

The following table summarizes the average debt outstanding and the weighted average interest cost:

---

| | | | |
|:---|:---|:---|:---|
|  | **** | **For the three months ended<br> March 31, 2026** | **For the three months ended<br> March 31, 2025** |
| Combined weighted average interest rate <sup>(1)</sup> | | 5.57% | 6.40% |
| Combined weighted average debt outstanding | | $716380 | $321314 |

---

<sup>(1)</sup> Excludes facility unused fees and amortization of deferred financing costs.

*Promissory Notes*

On June 2, 2025, the Company closed on an offering of 110 promissory notes due June 2, 2055 (the "Promissory Notes") in a private offering, with each Promissory Note being issued in connection with the issuance of one common share of the Company (the "Promissory Notes Offering") to accredited investors (as that term is defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended ("Securities Act")). The aggregate principal amount of the Promissory Notes is $110 less the value of 110 common shares at issuance. The Company will pay interest totaling $0.12 per year on each outstanding Promissory Note, with such interest to be paid semi-annually on or before June 30 and December 31 each year. The Promissory Notes are reflected on the accompanying Consolidated Statements of Assets and Liabilities as "Accrued expenses and other liabilities".

The Promissory Notes are general unsecured senior obligations of the Company and rank equally with all outstanding and future unsecured, unsubordinated indebtedness issued by the Company. The Promissory Notes are subject to prepayment, in whole or in part, at any time on or following the date on which the Company has repurchased the common share issued in connection with the Promissory Note. If the Company elects to prepay the Promissory Notes, the Company will pay the principal as of the prepayment date plus all accrued, unpaid, and past due interest, and if the prepayment occurs within 24 months of the issue date, the Company will pay a one-time prepayment premium. The Promissory Notes are also subject to certain customary events of default with cure periods, as applicable. The Promissory Notes are also subject to certain restrictions necessary to protect the Company's status as a business development company under the 1940 Act.

The Promissory Notes are issued in reliance on Regulation D under the Securities Act. The Promissory Notes have not and will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, as applicable. The Company intends to use the net proceeds from the Promissory Notes Offering for general corporate purposes.

**Lord Abbett Private Credit Fund Notes to the Consolidated Financial Statements (Unaudited) (Continued) March 31, 2026 (in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**(6) COMMITMENTS AND CONTINGENCIES**

In the normal course of business, the Company may enter into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. Currently, no such claims exist or are expected to arise, and accordingly, the Company has not accrued any liability in connection with such indemnifications.

The Company's investment portfolio contains debt investments which are in the form of lines of credit or delayed draw commitments, which require us to provide funding when requested by portfolio companies in accordance with underlying loan agreements. As of March 31, 2026 and December 31, 2025, the Company had $461,978 and $382,015, respectively, of unfunded commitments to fund delayed draw and revolving senior secured loans.

As of March 31, 2026 and December 31, 2025, $75.8 million and $78.4 million, respectively, of capital committed remained uncalled from the Company in relation to capital commitments to the SBLA JV.

**(7) SHAREHOLDERS' CAPITAL**

The following table summarizes the total Common Shares issued and proceeds received from the closings of the Company's continuous private offerings that occurred for the three months ended March 31, 2026.

---

| | | |
|:---|:---|:---|
| **Date Received** | **Shares Issued** | **Proceeds Received** |
| January 2, 2026 | 3562500 | $89490 |
| February 2, 2026 | 1899681 | 47644 |
| March 2, 2026 | 536078 | 13348 |
| **Total** | 5998259 | $150482 |

---

The following table summarizes the total Common Shares issued and proceeds received from the closings of the Company's continuous private offerings that occurred for the three months ended March 31, 2025.

---

| | | |
|:---|:---|:---|
| **Date Received** | **Shares Issued** | **Proceeds Received** |
| February 3, 2025 | 1782884 | $45000 |
| March 3, 2025 | 849604 | 21410 |
| **Total** | 2632488 | $66410 |

---

**Distribution Reinvestment Plan**

Shareholders of Common Shares, whose Common Shares are registered with State Street Bank and Trust Company (the "Agent"), will automatically be enrolled (the "Participants") in the Company's Dividend Reinvestment Plan (the "DRIP"). The Company will declare its income dividends or capital gains or other distributions ("Distributions") payable in Common Shares, or, at the option of shareholders, in cash. Therefore, each Participant will have all Distributions, net of any applicable U.S. withholding taxes, on his or her Common Shares automatically reinvested (net of applicable withholding tax) in additional Common Shares, unless such Participant elects to receive such Distributions in cash by contacting the Agent. An election to receive cash may be revoked or reinstated at the election of the shareholder. On the payment date for a Distribution, the Agent shall receive newly issued Common Shares ("Additional Shares"), including fractions, from the Company for each Participant's account. The number of Additional Shares to be credited shall be determined by dividing the dollar amount of the Distribution by the net asset value per Common Share on the payment date. The net asset value per Common Share on a particular date shall be the amount calculated on that date (or if not calculated on such date, the amount most recently calculated) by or on behalf of the Company in accordance with the Company's current private placement memorandum. It is contemplated that the Company will pay dividends at least quarterly. If, for any reason beyond the control of the Agent, reinvestment of the Distributions cannot be completed within thirty (30) days after the applicable payment date for such Distribution, funds held by the Agent on behalf of a Participant will be distributed to that Participant.

The following table summarizes the Company's distributions declared, paid and payable for the three months ended March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date Declared** | **Record Date** | **Payment Date** | **Per Share** | **Total Amount** |
| January 23, 2026 | January 31, 2026 | February 25, 2026 | $0.22 | $5413 |
| February 24, 2026 | February 28, 2026 | March 26, 2026 | 0.22 | 5838 |
| March 23, 2026 | March 31, 2026 | April 29, 2026 | 0.22 | 5966 |
| **Total** |  |  |  | $17217 |

---

**Lord Abbett Private Credit Fund Notes to the Consolidated Financial Statements (Unaudited) (Continued) March 31, 2026 (in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

The following table summarizes the amounts received and Common Shares issued to shareholders who have participated in the DRIP for the three months ended March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **Payment Date** | **DRIP Shares Issued** | **Amount per share** | **DRIP Shares Value** |
| January 28, 2026 | 24693 | $25.12 | $620 |
| February 25, 2026 | 32946 | 25.08 | 827 |
| March 26, 2026 | 34298 | 24.90 | 854 |
| **Total** | 91937 |  | $2301 |

---

The following table summarizes the Company's distributions declared, paid and payable for the three months ended March 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date Declared** | **Record Date** | **Payment Date** | **Per Share** | **Total Amount** |
| January 29, 2025 | January 29, 2025 | February 25, 2025 | $0.25 | $2017 |
| February 26, 2025 | February 26, 2025 | March 27, 2025 | 0.24 | 2365 |
| March 27, 2025 | March 27, 2025 | April 28, 2025 | 0.24 | 2569 |
| **Total** |  |  |  | $6951 |

---

As of March 31, 2026 and as of December 31, 2025, Lord Abbett and certain registered investment companies and other pooled vehicles advised by Lord Abbett collectively own approximately 87% and 99%, respectively, of the Company. As of March 31, 2025, there was no DRIP activity.

**Share Repurchase Program**

The Company commenced a share repurchase program in which it intends to repurchase up to 5% of the Common Shares outstanding as of the close of the previous calendar quarter, at the discretion of the Board. The Board may amend, suspend or terminate the share repurchase program if in its reasonable judgment it deems such action to be in the Company's best interest and the best interest of our shareholders. As a result, share repurchases may not be available each quarter. Should the Board suspend the share repurchase program, the Board will consider whether the continued suspension of the program is in the best interests of the Company and its shareholders on a quarterly basis. However, the Board is not required to authorize the recommencement of the share repurchase program within any specified period of time. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Exchange Act. All shares purchased by the Company pursuant to the terms of each tender offer will be retired and thereafter will be authorized and unissued shares.

On January 29, 2026, under the Company's share repurchase program, the Company made a tender offer to purchase up to 934,781.32 Common Shares, which represents approximately 5% of the Company's outstanding shares as of November 30, 2025. The tender offer was for cash at a price equal to the net asset value per share as of March 31, 2026. The offer expired at 11:59 P.M., Eastern Time, on February 27, 2026. No shares were validly tendered prior to the expiration of the offer.

**Lord Abbett Private Credit Fund Notes to the Consolidated Financial Statements (Unaudited) (Continued) March 31, 2026 (in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

**(8) CONSOLIDATED FINANCIAL HIGHLIGHTS**

The following are the consolidated financial highlights for the three months ended March 31, 2026:

---

| | |
|:---|:---|
|  | **For the three months ended<br> March 31, 2026** |
| **Per Share Data:<sup>(1)</sup>** |  |
| Net asset value, beginning of period | $25.12 |
| Net investment income (loss) | 0.65 |
| Net realized and unrealized gain (loss)<sup>(2)</sup> | (0.32) |
| Net increase (decrease) in net assets resulting from operations | 0.33 |
| Distributions declared from net investment income<sup>(3)</sup> | (0.66) |
| Total increase (decrease) in net assets | (0.33) |
| Net asset value, end of period | 24.79 |
| Common Shares outstanding at end of period | 27111380 |
| Total return based on net asset value<sup>(4)</sup> | 1.3% |
| **Ratio/Supplemental Data:** |  |
| Net assets at end of period | $672019 |
| Ratio of expenses before expense reimbursement to average net asset value<sup>(5)</sup> | 9.9% |
| Ratio of net expenses to average net asset value<sup>(5)</sup> | 9.8% |
| Ratio of net investment income to average net asset value<sup>(5)</sup> | 10.6% |
| Asset coverage ratio | 194% |
| Portfolio Turnover | 12% |

---

<sup>(1)</sup> Per share data has been derived based on the weighted average number of shares outstanding for the three months ended March 31, 2026.

<sup>(2)</sup> Net unrealized and realized gain (loss) per share may not correlate to the aggregate of the net realized and unrealized gain (loss) in the Consolidated Statement of Operations, primarily due to the timing of the issuance of the Common Shares.

<sup>(3)</sup> The tax character of distributions is determined based on the total amount of taxable income for the full tax year and cannot be confirmed until after the close of the tax year. Accordingly, the tax character of the Company's distributions as denoted herein may be re-characterized later based on taxable income for the full tax year.

<sup>(4)</sup> Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the Company's dividend reinvestment plan) divided by the beginning NAV per share. Total return does not include upfront transaction fees, if any. Total returns for periods of less than 1 year are not annualized.

<sup>(5)</sup> Annualized for the three months ended March 31, 2026.

**Lord Abbett Private Credit Fund Notes to the Consolidated Financial Statements (Unaudited) (Continued) March 31, 2026 (in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

The following are the financial highlights for the three months ended March 31, 2025:

---

| | |
|:---|:---|
|  | **For the three months ended<br> March 31, 2025** |
| **Per Share Data:** |  |
| Net asset value, beginning of period | $25.22 |
| Net investment income (loss) | 0.72 |
| Net realized and unrealized gain (loss) | 0.03 |
| Net increase (decrease) in net assets resulting from operations | 0.75 |
| Distributions declared from net investment income | (0.73) |
| Total increase (decrease) in net assets | 0.02 |
| Net asset value, end of period | 25.24 |
| Common Shares outstanding at end of period | 10703394 |
| Total return based on net asset value<sup>(1)</sup> | 2.97% |
| **Ratio/Supplemental Data:** |  |
| Net assets at end of period | $270161 |
| Ratio of expenses before waivers and reimbursement to average net asset value<sup>(2)</sup> | 13.75% |
| Ratio of net expenses to average net asset value<sup>(2)</sup> | 13.15% |
| Ratio of net investment income to average net asset value<sup>(2)</sup> | 11.50% |
| Portfolio Turnover | 6.01% |

---

<sup>(1)</sup> Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the Company's dividend reinvestment plan) divided by the beginning NAV per share. Total return does not include upfront transaction fees, if any.

<sup>(2)</sup> Annualized for the three months ended March 31, 2025.

**(9) SUBSEQUENT EVENTS**

Subsequent events have been evaluated through the date the Consolidated Financial Statements were issued. There have been no subsequent events that require recognition or disclosure through the date the Consolidated Financial Statements were issued, except as disclosed below.

<u>Distributions</u>

On April 20, 2026, the Company declared a distribution of approximately $0.22 per share to shareholders of record as of April 30, 2026 to be paid on or about May 29, 2026.

<u>Subscriptions</u>

On April 1, 2026, the Company issued and sold approximately 1,752,181 Common Shares for an aggregate offering price of approximately $43.4 million, reflecting a purchase price of $24.79 per Common Share.

The Company received approximately $2.5 million of net proceeds relating to the issuance of Common Shares for subscriptions effective May 1, 2026.

<u>Credit Facility Amendment</u>

On April 23, 2026, PCF Financing 2 entered into the Amendment No. 1 ("First Amendment") to the Loan Agreement by and among PCF Financing 2, as borrower, the Company, as collateral manager, Royal Bank of Canada ("RBC") as administrative agent, each of the lenders from time to time party thereto, and Computershare Trust Company, N.A., as collateral agent and collateral custodian. The First Amendment provides for, among other things, an increase to the Commitments from $300 million to $400 million.

<u>Share Repurchases</u>

On April 30, 2026, under the Company's share repurchase program, the Company made a tender offer to purchase up to 1,327,050.25 Common Shares, which represents approximately 5% of the Company's outstanding shares as of February 28, 2026. The tender offer is for cash at a price equal to the net asset value per share as of June 30, 2026. The offer will expire at 11:59 P.M., Eastern Time, on May 29, 2026.

**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (dollar amounts in thousands, except share amounts, per share data, percentages, and as otherwise noted)**

The following discussion and analysis should be read in conjunction with our Consolidated Financial Statements and related notes and other financial information appearing elsewhere in this Quarterly Report on Form 10-Q. Except as otherwise specified, references to "we," "us," "our," or the "Company" refer to Lord Abbett Private Credit Fund.

**OVERVIEW**

We were formed on November 27, 2023, as a Delaware limited partnership named Lord Abbett Private Credit Fund 1, LP. On August 30, 2024, we converted to a Delaware statutory trust and were renamed Lord Abbett Private Credit Fund. We are a non-diversified, closed-end management investment company that has elected to be regulated as a BDC under the 1940 Act. We are externally managed by the Adviser, which manages our day-to-day operations and provides us with investment advisory services pursuant to the terms of the Advisory Agreement. The Adviser is registered as an investment adviser with the SEC. We elected to be treated for U.S. federal income tax purposes, and intend to qualify annually thereafter, as a RIC under Subchapter M of the Code.

The Adviser oversees (subject to the oversight of the Board, a majority of whom are Independent Trustees) the management of our operations and is responsible for making investment decisions with respect to our portfolio pursuant to the terms of the Advisory Agreement. Under the Advisory Agreement, we have agreed to pay the Adviser an annual management fee as well as an incentive fee based on our investment performance. Also, under the Administration Agreement, we have agreed to pay Lord, Abbett & Co. LLC (the "Administrator") an administration fee on a monthly basis.

Our investment objective is to generate current income and, to a lesser extent, long-term capital appreciation, by primarily focusing on directly originated, senior secured loans to U.S. middle market companies.

As a BDC, we may not acquire any asset other than assets of the type listed in Section 55(a) of the 1940 Act, which are referred to as qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets. "Qualifying assets" are generally privately offered securities issued by U.S. private companies or thinly traded public companies. We may also invest up to 30% of our portfolio opportunistically in "non-qualifying" portfolio investments, such as investments in non-U.S. companies, joint ventures or other interests that are non-qualifying. The Adviser directly originates credit opportunities from a large universe of private equity sponsors, strategic sourcing relationships, intermediaries and other direct lenders, as well as internal Lord Abbett resources.

We generally intend to distribute substantially all of our available earnings annually by paying distributions on a monthly basis, as determined by our Board, in its discretion.

**KEY COMPONENTS OF OUR RESULTS OF OPERATIONS**

***Investments***

Our level of investment activity can and does vary substantially from period to period depending on many factors, including the amount of debt available to middle-market companies, the general economic environment and the competitive environment for the type of investments we make.

***Revenue***

We plan to generate revenue in the form of interest and fee income on debt investments, capital gains, and dividend income from our equity investments in our portfolio companies. Our senior and subordinated debt investments are expected to bear interest at a fixed or floating rate. Interest on debt securities is generally payable quarterly or semiannually. In some cases, some of our investments may provide for deferred interest payments or PIK interest. The principal amount of the debt securities and any accrued but unpaid PIK interest generally will become due at the maturity date. In addition, we may generate revenue in the form of commitment and other fees in connection with transactions. Original issue discounts and market discounts or premiums will be capitalized, and we will accrete or amortize such amounts as interest income. We will record prepayment premiums on loans and debt securities as interest income. Dividend income, if any, will be recognized on an accrual basis to the extent that we expect to collect such amounts. In addition, we generate revenue in the form of commitment, loan origination, structuring or diligence fees, fees for providing managerial assistance to our portfolio companies, and possibly consulting fees.

***Expenses***

Except as specifically provided below, all investment professionals and staff of the Adviser, when and to the extent engaged in providing investment advisory services to us, and the base compensation, bonus and benefits, and the routine overhead expenses, of such personnel allocable to such services, will be provided and paid for by the Adviser. The Administrator or its affiliates will bear all fees, costs, and expenses incurred that are not assumed by the Company. We will bear the following costs and expenses of our operations, administration and transactions, including, but not limited to (1) investment advisory fees, including the Base Management Fee and Incentive Fee, to the Adviser, pursuant to the Advisory Agreement; (2) Administration fee ("Administration Fee") to the Administrator, pursuant to the Administration Agreement; and (3) other expenses of the Company's operations and transactions listed in "Item 1. Business – Expenses" in our Form 10-K filing.

*Expense Support and Conditional Reimbursement Agreement*

Pursuant to the Expense Support Agreement we have entered into with the Adviser, the Adviser is obligated to advance all of our Other Operating Expenses (each, a "Required Expense Payment") to the effect that such expenses do not exceed 0.70% (on an annualized basis) of the Company's NAV. Any Required Expense Payment must be paid by the Adviser to us in any combination of cash or other immediately available funds and/or offset against amounts due from us to the Adviser or its affiliates. "Other Operating Expenses" means the Company's organizational and offering expenses, professional fees, trustee fees, administration fees, and other general and administrative expenses (including the Company's allocable portion of compensation, overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement, excluding the Company's base management and incentive fees owed to the Adviser, financing fees and costs (other than upfront fees on the Company's initial credit facility), brokerage commissions, placement agent fees, costs and expenses of distributing and placing the Common Shares, extraordinary expenses and any interest expenses owed by the Company, all as determined in accordance with GAAP.

The Adviser may elect to pay, at such times as the Adviser determines, certain expenses on our behalf (each, a "Voluntary Expense Payment" and together with a Required Expense Payment, the "Expense Payments"), provided that no portion of the payment will be used to pay shareholder servicing and/or distribution fees, if any, of the Company. Any Voluntary Expense Payment that the Adviser has committed to pay must be paid by the Adviser to us in any combination of cash or other immediately available funds no later than 45 days after such commitment was made in writing, and/or offset against amounts due from us to the Adviser or its affiliates.

Following any month in which Other Operating Expenses are below the Expense Cap on an annualized basis, the Adviser may be reimbursed (a, "Required Reimbursement Payment") for any Required Expense Payment to the extent that (i) the Other Operating Expenses, inclusive of such Required Reimbursement Payment remain at or below the Expense Cap and (ii) the applicable Required Expense Payment was made no more than three (3) years prior to the Required Reimbursement Payment.

Following any calendar month in which Available Operating Funds exceed the cumulative distributions accrued to the Company's shareholders based on distributions declared with respect to record dates occurring in such calendar month (the amount of such excess being hereinafter referred to as "Excess Operating Funds"), we shall pay such Excess Operating Funds, or a portion thereof, to the Adviser until such time as all Voluntary Expense Payments made by the Adviser to the Company within three (3) years prior to the last business day of such calendar month have been reimbursed. Any payments required to be made by the Company with respect to Voluntary Expense Payments shall be referred to herein as a "Voluntary Reimbursement Payment", and together with the Required Reimbursement Payments, the "Reimbursement Payments"). "Available Operating Funds" means the sum of (i) our net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) our net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to us on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above).

No Voluntary Reimbursement Payment for any calendar month shall be made if: (1) the Effective Rate of Distributions Per Share declared by the Company at the time of such Voluntary Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Voluntary Reimbursement Payment relates, (2) the Company's Operating Expense Ratio at the time of such Voluntary Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Voluntary Reimbursement Payment relates, or (3) the Company's Other Operating Expenses at the time of such Voluntary Reimbursement Payment exceeds 0.70% of the Company's NAV. "Effective Rate of Distributions Per Share" means the annualized rate (based on a 365-day year) of regular cash distributions per share exclusive of returns of capital and declared special dividends or special distributions, if any. The "Operating Expense Ratio" is calculated by dividing Operating Expenses, less organizational and offering expenses, base management and incentive fees owed to the Adviser, shareholder servicing and/or distribution fees, if any, and interest expense, by the Company's net assets. "Operating Expenses" means all of the Company's operating costs and expenses incurred, as determined in accordance with GAAP for investment companies.

The Company's obligation to make a Reimbursement Payment shall automatically become a liability of the Company on the last business day of the applicable calendar month, except to the extent the Adviser has waived its right to receive such payment for the applicable month.

The Expense Support Agreement is effective until October 4, 2026 and shall renew automatically for successive one-year terms thereafter unless either the Company or the Adviser determines to terminate it and so notifies the other party. Either the Company or the Adviser may terminate the Expense Support Agreement at any time, with or without notice, without the payment of any penalty, provided that any Expense Payments that have not been reimbursed by the Company to the Adviser will remain the obligation of the Company following any such termination, subject to the terms of the Expense Support Agreement.

The following table presents a cumulative summary of the expense payments and reimbursement payments since the Company's commencement of operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **For the Quarter Ended** | **Required Expense<br> Payments by<br>Adviser** | **Required<br> Reimbursement<br>Payments to Adviser** | **Unreimbursed<br>Expense Payments** | **Reimbursement Eligibility<br> Expiration** |
| March 31, 2024 | $232 | $- | $232 | March 31, 2027 |
| June 30, 2024 | 832 |  | 832 | June 30, 2027 |
| September 30, 2024 | 572 |  | 572 | September 30, 2027 |
| December 31, 2024 | 949 |  | 949 | December 31, 2027 |
| March 31, 2025 | 353 |  | 353 | March 31, 2028 |
| June 30, 2025 | 280 |  | 280 | June 30, 2028 |
| September 30, 2025 | 680 |  | 680 | September 30, 2028 |
| December 31, 2025 | 2424 |  | 2424 | December 31, 2028 |
| March 31, 2026 | 135 | - | 135 | March 31, 2029 |
| **Total** | $**6457** | $**-** | $**6457** |  |

---

**PORTFOLIO AND INVESTMENT ACTIVITY**

Our portfolio is presented below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of<br> March 31, 2026** | **As of<br> March 31, 2026** | **As of<br> March 31, 2026** | **As of<br> December 31, 2025** | **As of<br> December 31, 2025** | **As of<br> December 31, 2025** |
|  | **Cost** | **Fair Value** | **% of Total<br> Investments at<br> Fair Value** | **Cost** | **Fair Value** | **% of Total<br> Investments at<br> Fair Value** |
| First Lien Secured Debt | $1328502 | $1321518 | 93% | $1219955 | $1217362 | 93% |
| Second Lien Secured Debt | 29976 | 26389 | 2 | 29951 | 30070 | 2 |
| Equity | 890 | 890 | -<sup>(a)</sup> | 890 | 890 | -<sup>(a)</sup> |
| Investments in Joint Venture | 64625 | 64209 | 5 | 61592 | 61606 | 5 |
| Total Investments at Fair value | $1423993 | $1413006 | 100% | $1312388 | $1309928 | 100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Amount is less than 1%

Our debt portfolio displayed the following characteristics of each of our investments:

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| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
| Number of portfolio companies<sup>(1)</sup> | 51 | 45 |
| Percentage of performing debt bearing a floating rate | 100% | 100% |
| Percentage of performing debt bearing a fixed rate | 0% | 0% |
| Percentage of our total portfolio on non-accrual | 0% | 0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Does not include trades open as of March 31, 2026 but not yet settled.

The following table presents information concerning portfolio companies to which the Company has made loans:

---

| | |
|:---|:---|
| **Portfolio Company Metrics<sup>(1)</sup>:** | |
| Median 12-month EBITDA: | $84 million |
| Weighted average net leverage: | 4.9x<sup>(2)(3)</sup> |
| Weighted average loan to value: | 43%<sup>(2)(4)</sup> |
| Weighted average interest coverage: | 2.3x<sup>(2)(5)</sup> |
| Weighted average yield on debt investments, at cost: | 9.4%<sup>(6)</sup> |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Amounts were derived from the most recently available financial statements provided
 by portfolio companies which have not been independently verified by us and may reflect a normalized or adjusted amount. Such
 amounts have not been independently estimated by us, and accordingly, we take no responsibility for such numbers and make
 no representation or warranty in respect of this information.

(2) Weighted average metrics are calculated as a percentage of funded par value of debt investments.

(3) Net leverage is the ratio of total senior debt minus cash divided by EBITDA and taking into account
 leverage through the tranche to which the Company is a lender.

(4) Calculated using total senior debt minus cash divided by total enterprise value estimated by the private equity sponsor or
market comparables and taking into account leverage through the tranche to which the Company is a lender.

(5) Interest coverage for a particular portfolio company is calculated by taking EBITDA and dividing
 by annualized latest reported interest expense.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Computed as (a) the annual stated spread, plus reference rate, as applicable, plus the annual accretion of discounts, plus the
annual unused fees, as applicable on debt securities divided by (b) total debt investments at par value included in such securities.
Actual yields earned over the life of each investment could differ materially from the yields presented herein.

**Investment Activity**

Our investment activity is presented below:

---

| | | |
|:---|:---|:---|
|  | **For the three months<br> ended March 31, 2026** | **For the three months<br> ended March 31, 2025** |
| **Investment Activity** |  |  |
| Investments, beginning of period | $1309928 | $472675 |
| New investments purchased | 272656 | 151409 |
| Payment-in-kind interest income capitalized | 252 |  |
| Investments sold or repaid | (163074) | (33754) |
| Net accretion of discount on investments | 1713 | 676 |
| Net realized gain (loss) on investments | 64 | 12 |
| Net change in unrealized appreciation/(depreciation) | (8533) | 256 |
| Investments, end of period | $**1413006** | $**591274** |
| **Portfolio Companies** |  |  |
| Portfolio Companies Beginning Period | 45 | 22 |
| Number of new investment commitments in portfolio companies<sup>(1)</sup> | 8 | 5 |
| Number of investment commitments exited or fully repaid | 2 | 1 |
| **Number of Portfolio Companies at period end<sup>(1)</sup>** | 51 | 26 |
| Count of investments<sup>(1)</sup> | 52 | 27 |
| Count of industries | 26 | 16 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Does not include trades open as of March 31, 2026 but not yet settled.

**CONSOLIDATED RESULTS OF OPERATIONS**

The following table represents our operating results:

---

| | | |
|:---|:---|:---|
|  | **For the three months<br> ended March 31, 2026** | **For the three months<br> ended March 31, 2025** |
| Total investment income | $32691 | $14425 |
| Less: Net expenses | 15696 | 7617 |
| Net investment income before taxes | 16995 | 6808 |
| Net investment income after taxes | 16995 | 6808 |
| Net change in unrealized appreciation (depreciation) | (8653) | 343 |
| Net realized gain (loss) | 64 | 12 |
| Net increase (decrease) in net assets resulting from operations | $8406 | $7163 |

---

**Investment Income**

For the three months ended March 31, 2026, total investment income increased to $32.7 million from $14.4 million for the same period in the prior year, primarily driven by deployment of capital, interest income from our investments, and change in invested balance. The size of our investment portfolio at fair value increased to $1.4 billion at March 31, 2026 from $591 million at March 31, 2025. We expect that investment income will vary based on a variety of factors including the pace of our originations, repayments, and changes in interest rates. The composition of our investment income for the three months ended March 31, 2026 and for the three months ended March 31, 2025 was as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **For the three months <br> ended March 31, 2026** | **For the three months <br> ended March 31, 2025** |
| Investment income: |  |  |
| Non-controlled/non-affiliated investments: |  |  |
| &nbsp;&nbsp;&nbsp;Interest income | $29955 | $12917 |
| &nbsp;&nbsp;&nbsp;Payment-in-kind interest income | 248 |  |
| &nbsp;&nbsp;&nbsp;Fee income | 672 | 597 |
| Controlled/affiliated investments: |  |  |
| &nbsp;&nbsp;&nbsp;Dividend income | 1816 | 911 |
| **Total Investment Income** | $32691 | $14425 |

---

**Expenses:**

Expenses were as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three months <br> ended March 31, 2026** | **For the three months <br> ended March 31, 2025** |
| **Expenses:** |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | $10512 | $5842 |
| &nbsp;&nbsp;&nbsp;Income incentive fees | 2428 | 979 |
| &nbsp;&nbsp;&nbsp;Management fees | 1629 | 602 |
| &nbsp;&nbsp;&nbsp;Professional fees | 667 | 421 |
| &nbsp;&nbsp;&nbsp;Administration fees | 407 | 150 |
| &nbsp;&nbsp;&nbsp;Other general & administrative | 188 | 71 |
| &nbsp;&nbsp;&nbsp;Capital gains incentive fees |  | 44 |
| &nbsp;&nbsp;&nbsp;Amortization of offering costs |  | 31 |
| **Total expenses** | $15831 | $8140 |
| &nbsp;&nbsp;&nbsp;Expense reimbursement | (135) | (353) |
| &nbsp;&nbsp;&nbsp;Management fees waived | - | (170) |
| **Net expenses** | $15696 | $7617 |

---

Total expenses before expense support for the three months ended March 31, 2026, consisted primarily of interest and debt financing expenses incurred in connection with our borrowings, accounting and reporting fees, and legal. We anticipate expenses to continue to grow consistent with capital deployment and borrowings over time.

***Interest and Other Financing Expenses***

Interest expenses, including unused commitment fees, amortization of debt issuance costs and deferred financing costs for the three months ended March 31, 2026 and for the three months ended March 31, 2025 were $10,512 and $5,842, respectively. The combined weighted average interest rate (excluding unused fees and financing costs) of the aggregate borrowings outstanding for the three months ended March 31, 2026 and for the three months ended March 31, 2025, was 5.57% and 6.40%, respectively. For the three months ended March 31, 2026, interest and other debt expenses increased, primarily driven by the increase in the size of our portfolio and corresponding increase in our debt facility usage.

***Net Realized Gain (Loss) and Unrealized Gain (Loss) on Investments***

Net realized gain (loss) and unrealized gain (loss) on investments were as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three months <br> ended March 31, 2026** | **For the three months<br> ended March 31, 2025** |
| **Realized and unrealized gain (loss):** |  |  |
| Net realized gain (loss): |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments | $58 | $12 |
| &nbsp;&nbsp;&nbsp;Foreign currency transactions | 6 |  |
| Net change in unrealized appreciation (depreciation): |  |  |
| &nbsp;&nbsp;&nbsp;Non-controlled/non-affiliated investments | (8223) | 256 |
| &nbsp;&nbsp;&nbsp;Controlled/affiliated investments | (430) | 87 |
| **Net realized and unrealized gain (loss)** | $(8589) | $355 |

---

For the three months ended March 31, 2026 and for the three months ended March 31, 2025, net change in unrealized appreciation on our investments was $(8,653) and $343, respectively, which was primarily the result of the changes in spreads in the primary and secondary markets.

**FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES**

We generate cash from the net proceeds of offerings of our Common Shares, net borrowings from our credit facilities and unsecured debt, and cash flows from interest and fees earned from our investments and principal repayments and proceeds from sales of our investments. We may also fund a portion of our investments through borrowings from banks and issuances of senior securities, including before we have fully invested the proceeds of any closing of our continuous private offering of our Common Shares.

Our primary use of cash is investments in portfolio companies, payments of our expenses, funding repurchases under our share repurchase program and payment of cash distributions to our shareholders. Details of our credit facilities are described in "Item 1: Consolidated Financial Statements --Notes to Consolidated Financial Statements --Note 5. Debt." The average debt-to-equity leverage ratio during the period 12/31/2025 - 03/31/2026 was approximately 1.10x. We may also, from time to time, enter into new credit facilities, increase the size of existing credit facilities or issue additional debt securities. Any such incurrence or issuance would be subject to prevailing market conditions, our liquidity requirements, contractual and regulatory restrictions and other factors.

***Unregistered Sales of Equity Securities***

The following table summarizes the total Common Shares issued and proceeds received from the closings of the Company's continuous private offerings that occurred for the three months ended March 31, 2026.

---

| | | |
|:---|:---|:---|
| **Date Received** | **Shares Issued** | **Proceeds Received** |
| January 2, 2026 | 3562500 | $89490 |
| February 2, 2026 | 1899681 | 47644 |
| March 2, 2026 | 536078 | 13348 |
| **Total** | 5998259 | $150482 |

---

The following table summarizes the total Common Shares issued and proceeds received from the closings of the Company's continuous private offerings that occurred for the three months ended March 31, 2025.

---

| | | |
|:---|:---|:---|
| **Date Received** | **Shares Issued** | **Proceeds Received** |
| February 3, 2025 | 1782884 | $45000 |
| March 3, 2025 | 849604 | 21410 |
| **Total** | 2632488 | $66410 |

---

The following table summarizes the Company's distributions declared, paid and payable for the three months ended March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date Declared** | **Record Date** | **Payment Date** | **Per Share** | **Total Amount** |
| January 23, 2026 | January 31, 2026 | February 25, 2026 | $0.22 | $5413 |
| February 24, 2026 | February 28, 2026 | March 26, 2026 | 0.22 | 5838 |
| March 23, 2026 | March 31, 2026 | April 29, 2026 | 0.22 | 5966 |
| **Total** |  |  |  | $**17217** |

---

The following table summarizes the Company's distributions declared, paid and payable for the three months ended March 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date Declared** | **Record Date** | **Payment Date** | **Per Share** | **Total Amount** |
| January 29, 2025 | January 29, 2025 | February 25, 2025 | $0.25 | $2017 |
| February 26, 2025 | February 26, 2025 | March 27, 2025 | 0.24 | 2365 |
| March 27, 2025 | March 27, 2025 | April 28, 2025 | 0.24 | 2569 |
| **Total** |  |  |  | $**6951** |

---

***Dividend Reinvestment Plan***

Shareholders of Common Shares, whose Common Shares are registered with State Street Bank and Trust Company (the "Agent"), will automatically be enrolled (the "Participants") in the Company's Dividend Reinvestment Plan (the "DRIP"). The Company will declare its income dividends or capital gains or other distributions ("Distributions") payable in Common Shares, or, at the option of shareholders, in cash. Therefore, each Participant will have all Distributions, net of any applicable U.S. withholding taxes, on his or her Common Shares automatically reinvested (net of applicable withholding tax) in additional Common Shares, unless such Participant elects to receive such Distributions in cash by contacting the Agent. An election to receive cash may be revoked or reinstated at the election of the shareholder. On the payment date for a Distribution, the Agent shall receive newly issued Common Shares ("Additional Shares"), including fractions, from the Company for each Participant's account. The number of Additional Shares to be credited shall be determined by dividing the dollar amount of the Distribution by the net asset value per Common Share on the payment date. The net asset value per Common Share on a particular date shall be the amount calculated on that date (or if not calculated on such date, the amount most recently calculated) by or on behalf of the Company in accordance with the Company's current private placement memorandum. It is contemplated that the Company will pay dividends at least quarterly. If, for any reason beyond the control of the Agent, reinvestment of the Distributions cannot be completed within thirty (30) days after the applicable payment date for such Distribution, funds held by the Agent on behalf of a Participant will be distributed to that Participant.

The following table summarizes the amounts received and Common Shares issued to shareholders who have participated in the DRIP for the three months ended March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **Payment Date** | **DRIP Shares Issued** | **Amount per share** | **DRIP Shares Value** |
| January 28, 2026 | 24693 | $25.12 | $620 |
| February 25, 2026 | 32946 | 25.08 | 827 |
| March 26, 2026 | 34298 | 24.90 | 854 |
| **Total** | **91937** |  | $**2301** |

---

***Share Repurchase Program***

The Company commenced a share repurchase program in which it intends to repurchase up to 5% of the Common Shares outstanding as of the close of the previous calendar quarter, at the discretion of the Board. The Board may amend, suspend or terminate the share repurchase program if in its reasonable judgment it deems such action to be in the Company's best interest and the best interest of our shareholders. As a result, share repurchases may not be available each quarter. Should the Board suspend the share repurchase program, the Board will consider whether the continued suspension of the program is in the best interests of the Company and its shareholders on a quarterly basis. However, the Board is not required to authorize the recommencement of the share repurchase program within any specified period of time. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Exchange Act. All shares purchased by the Company pursuant to the terms of each tender offer will be retired and thereafter will be authorized and unissued shares.

On January 29, 2026, under the Company's share repurchase program, the Company made a tender offer to purchase up to 934,781.32 Common Shares, which represents approximately 5% of the Company's outstanding shares as of November 30, 2025. The tender offer was for cash at a price equal to the net asset value per share as of March 31, 2026. The offer expired at 11:59 P.M., Eastern Time, on February 27, 2026. No shares were validly tendered prior to the expiration of the offer.

***Debt***

The Company's outstanding debt obligations were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
|  | **Aggregate<br> Principal<br> Committed** | **Outstanding<br> Principal** | **Less<br> Unamortized Deferred <br> Financing Cost** | **Carrying Value per <br> Consolidated <br> Statement of<br> Assets <br> and Liabilities** |
| SMBC Revolving Credit Facility | $325000 | $101922<sup>(1)</sup> | $2696 | $99226 |
| BofA ABL Credit Facility | 450000 | 409860 | 3221 | 406639 |
| RBC ABL Credit Facility | 300000 | 205924<sup>(2)</sup> | 1021 | 204903 |
| Total | $1075000 | $717706 | $6938 | $710768 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Net of $254 in unrealized appreciation related to foreign currency translations

(2) Net of ($570) in unrealized depreciation related to foreign currency translations

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **Aggregate<br> Principal<br> Committed** | **Outstanding<br> Principal** | **Less<br> Unamortized Deferred <br> Financing Cost** | **Carrying Value per <br> Consolidated <br> Statement of<br> Assets <br> and Liabilities** |
| SMBC Revolving Credit Facility | $325000 | $226248<sup>(1)</sup> | $2879 | $223369 |
| BofA ABL Credit Facility | 450000 | 406300 | 2298 | 404002 |
| RBC ABL Credit Facility | 300000 | 170402<sup>(2)</sup> | 723 | 169679 |
| Total | $1075000 | $802950 | $5900 | $797050 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Net of ($71) in unrealized depreciation related to foreign currency translations

(2) Net of ($123) in unrealized depreciation related to foreign currency translations

**RECENT DEVELOPMENTS**

Refer to *Note 9 – Subsequent Events* to our Consolidated Financial Statements included in this Report.

**CRITICAL ACCOUNTING POLICIES AND ESTIMATES**

This discussion of our expected operating plans is based upon our expected financial statements, which will be prepared in accordance with U.S. GAAP. The preparation of these consolidated financial statements will require our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Changes in the economic environment, financial markets and any other parameters used in determining such estimates could cause actual results to differ. In addition to the discussion below, we will describe our critical accounting policies in the notes to our future financial statements.

The Company is required to report its investments for which current market values are not readily available at fair value. The Company values its investments in accordance with Rule 2a-5 under the 1940 Act and ASC 820, which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date. ASC 820 prioritizes the use of observable market prices derived from such prices over entity-specific inputs. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See *"Item 1. Business – Determination of Net Asset Value"* in our Form 10-K for more information on how we value our investments.

**RELATED PARTY TRANSACTIONS**

See *Note 3* to the Consolidated Financial Statements for information on the Company's related party transactions.

**Item 3. Quantitative and Qualitative Disclosures About Market Risk**

We are subject to financial market risks, including portfolio valuation risk, market risk and risk related to interest rates.

***Portfolio Valuation Risk***

The Adviser, subject to the oversight of the Board, will determine the valuation of the Company's investments. It is expected that most of the Company's investments will not have readily available market quotations, which will require the Adviser to estimate, in accordance with the Adviser's valuation policies, the fair value of such investments on the valuation date. Fair value pricing is based on subjective judgments, and it is possible that the fair value of a security may differ materially from the value that would be realized if the security were sold. Absent bad faith or manifest error, valuation determinations of the Adviser will be conclusive and binding on the Company investors.

In addition, the Company may rely on third-party valuation services to verify the value of certain investments. An investment may not have a readily ascertainable market value and accordingly, could potentially make it difficult to determine a fair value of an investment and may yield an inaccurate valuation. Further, because of the Adviser's knowledge of the investment, the valuation services may defer to the Adviser's valuation even where such valuation may not be accurate or the determination thereof involved a conflict of interest. Additionally, the Company may also choose to discontinue the use of any third-party valuation services at any time, which could create a conflict of interest and impair the third-party valuation service's independence. An inaccurate valuation of an investment could have a substantial impact on the Company.

***Market Risk***

The success of the Company's activities will be affected by general economic and market conditions, such as interest rates, inflation rates, industry conditions, competition, technological developments, tax laws, availability of credit, economic uncertainty, changes in laws (including laws relating to taxation of the Company's investments), trade barriers, currency exchange controls, and national and international political circumstances (including wars, terrorist acts or security operations). These factors may affect, among other things, the level and volatility of securities' prices, the liquidity of the Company's investments and the availability of certain securities and investments. Volatility or illiquidity could impair the Company's profitability or result in losses. The Company may maintain substantial trading positions that can be materially adversely affected by the level of volatility in the financial markets—the larger the positions, the greater the potential for loss. Global markets have recently experienced unprecedented volatility and losses. The effects thereof are continuing and there can be no assurance that the Company will not be materially adversely affected. Furthermore, none of these conditions is within the control of the Adviser.

***Risk Related to Interest Rates***

Interest rates are highly sensitive to many factors, including governmental monetary and tax policies, domestic and international economic and political considerations and other factors beyond the ability of the Company to control or to forecast. Debt securities have varying levels of sensitivity to changes in interest rates. When the Company chooses to borrow money to make investments, the Company's net investment income will depend, in part, upon the difference between the rate at which the Company borrows funds and the rate at which the Company invest those funds. As a result, the Company can offer no assurance that a significant change in market interest rates would not have a material adverse effect on its net investment income in the event the Company uses debt to finance its investments. In periods of rising interest rates, the Company's cost of funds would increase, which could reduce its net investment income. The Company may use interest rate risk management techniques in an effort to limit its exposure to interest rate fluctuations. In addition, a rise in the general level of interest rates typically leads to higher interest rates applicable to the Company's debt investments.

As of March 31, 2026, approximately 100.0% of our debt investments were at floating rates. Based on our Consolidated Statements of Assets and Liabilities as of March 31, 2026, the following table shows the annualized impact on net income of hypothetical reference rate changes in interest rates (considering interest rate floors and ceilings for floating rate debt instruments assuming no changes in our investments and borrowing structure as of March 31, 2026):

---

| | | | |
|:---|:---|:---|:---|
|  | **Interest Income** | **Interest Expense** | **Net Income** |
| Up 100 basis points | $13734 | $7178 | $6556 |
| Up 50 basis points | 6867 | 3589 | 3278 |
| Down 50 basis points | (6867) | (3589) | (3278) |
| Down 100 basis points | (13734) | (7178) | (6556) |
| Down 200 basis points | (27468) | (14356) | (13112) |

---

**Item 4. Controls and Procedures**

***Evaluation of Disclosure Controls and Procedures***

As of March 31, 2026, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer (Principal Executive Officer) and our Chief Financial Officer (Principal Financial Officer), of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15 of the Exchange Act). Based on that evaluation, our Chief Executive Officer (Principal Executive Officer) and our Chief Financial Officer (Principal Financial Officer) have concluded that our current disclosure controls and procedures are effective in timely alerting them of material information relating to the Company that is required to be disclosed by us in the reports we file or submit under the Exchange Act.

***Changes in Internal Controls Over Financial Reporting***

There have been no changes in our internal control over financial reporting that occurred during the quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

**PART II – OTHER INFORMATION**

**Item 1. Legal Proceedings**

From time to time, the Company, the Adviser, and the Administrator may become party to certain lawsuits in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. Each of the Company, the Adviser, and the Administrator is not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against the Company.

**Item 1A. Risk Factors**

In addition to the other information set forth in this Report, you should carefully consider the risk factors previously disclosed under Item 1A of our Form 10-K, which could materially affect our business, financial condition and/or operating results. The risks disclosed in the Form 10-K are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially and adversely affect our business, financial condition and/or operating results.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

 ****

***Sales of Unregistered Securities***

Refer to *"Item 1. Consolidated Financial Statements—Notes to Consolidated Financial Statements—Note 7 - Shareholders' Capital"* in this Report for the issuance of Common Shares for the three months ended March 31, 2026. Such issuances were part of our continuous private offering and were exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) of the Securities Act and Regulation D thereunder.

**Item 3. Defaults Upon Senior Securities**

None

**Item 4. Mine Safety Disclosures**

Not applicable

**Item 5. Other Information**

 ****

***Rule 10b5-1 Trading Plans***

During the fiscal quarter ended March 31, 2026, none of our trustees or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any "non-Rule 10b5-1 trading arrangement."

**Item 6. Exhibits and Financial Statement Schedules**

 ****

***(a) Exhibits***

The following exhibits are filed as part of this Report or hereby incorporated by reference to exhibits previously filed with the SEC:

---

| | |
|:---|:---|
| &nbsp;&nbsp;Exhibit | Description |
| &nbsp;&nbsp;3.1\* | [Certificate of Trust](https://www.sec.gov/Archives/edgar/data/2008748/000093041324002927/c109607_ex3-1.htm) |
| &nbsp;&nbsp;3.2\* | [Amended and Restated Declaration of Trust](https://www.sec.gov/Archives/edgar/data/2008748/000093041324002927/c109607_ex3-2.htm) |
| &nbsp;&nbsp;3.3\* | [Bylaws](https://www.sec.gov/Archives/edgar/data/2008748/000093041324002927/c109607_ex3-3.htm) |
| &nbsp;&nbsp;10.1\*\* | [First Amendment, dated April 23, 2026, to Loan and Security Agreement, dated December 1, 2025, by and among Lord Abbett Private Credit Fund, as collateral manager, Lord Abbett PCF Financing 2 LLC, as borrower, Royal Bank of Canada, as administrative agent and a lender, and Computershare Trust Company, N.A., as collateral agent and collateral custodian.](https://www.sec.gov/Archives/edgar/data/2008748/000093041326001355/c116273_ex10-1.htm) |
| &nbsp;&nbsp;31.1\*\*\* | [Certification of Chief Executive Officer (Principal Executive Officer) Pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended.](c116312_ex31-1.htm) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;31.2\*\*\* | [Certification of Chief Financial Officer (Principal Financial Officer) Pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended.](c116312_ex31-2.htm) |
| &nbsp;&nbsp;32.1\*\*\*\* | [Certification of Chief Executive Officer (Principal Executive Officer) Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](c116312_ex32-1.htm) |
| &nbsp;&nbsp;32.2\*\*\*\* | [Certification of Chief Financial Officer (Principal Financial Officer) Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](c116312_ex32-2.htm) |
| &nbsp;&nbsp;101.INS\*\*\* | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document |
| &nbsp;&nbsp;101.SCH\*\*\* | Inline XBRL Taxonomy Extension Schema With Embedded Linkbase Documents |
| &nbsp;&nbsp;104\*\*\* | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| &nbsp;&nbsp;\* | [Incorporated by reference to Amendment No. 1 to the Company's Registration Statement on Form 10 (File No. 000-56673) filed on October 4, 2024.](https://www.sec.gov/Archives/edgar/data/2008748/000093041324002927/c109607_1012ga.htm) |
| &nbsp;&nbsp;\*\* | [Incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on April 29, 2026.](https://www.sec.gov/ix?doc=/Archives/edgar/data/0002008748/000093041326001355/c116273_8k-ixbrl.htm) |
| &nbsp;&nbsp;\*\*\* | Filed herewith |
| &nbsp;&nbsp;\*\*\*\* | Furnished herewith |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | **Lord Abbett Private Credit Fund** |
| Date: May 14, 2026 | <u><u>/s/ Stephan Kuppenheimer</u></u> |
|  | Stephan Kuppenheimer<br> Chief Executive Officer<br> (Principal Executive Officer) |
| Date: May 14, 2026 | <u><u>/s/ Salvatore Dona</u></u> |
|  | Salvatore Dona |
|  | Chief Financial Officer and Treasurer<br> (Principal Financial Officer) |

---

## Exhibit 31.1

**Exhibit 31.1**

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

UNDER SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Stephan Kuppenheimer, as Chief Executive Officer, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Quarterly Report on Form 10-Q of Lord Abbett Private Credit Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 14, 2026

---

| | |
|:---|:---|
| By: | &nbsp;&nbsp;/s/ Stephan Kuppenheimer |
|  | &nbsp;&nbsp;Stephan Kuppenheimer |
|  | &nbsp;&nbsp;Chief Executive Officer |
|  | &nbsp;&nbsp;(Principal Executive Officer) |

---

## Exhibit 31.2

**Exhibit 31.2**

CERTIFICATION OF CHIEF FINANCIAL OFFICER

UNDER SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Salvatore Dona, as Chief Financial Officer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Lord Abbett Private Credit Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 14, 2026

---

| | |
|:---|:---|
| By: | &nbsp;&nbsp;/s/ Salvatore Dona |
|  | &nbsp;&nbsp;Salvatore Dona |
|  | &nbsp;&nbsp;Chief Financial Officer and Treasurer |
|  | &nbsp;&nbsp;(Principal Financial Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

Certification of Chief Executive Officer<br>Pursuant to<br>18 U.S.C. Section 1350 as Adopted Pursuant to<br>Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report on Form 10-Q of Lord Abbett Private Credit Fund (the "Company") for the quarter ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Stephan Kuppenheimer, as Chief Executive Officer of the Company, certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 14, 2026

---

| | |
|:---|:---|
| By: | &nbsp;&nbsp;/s/ Stephan Kuppenheimer |
|  | &nbsp;&nbsp;Stephan Kuppenheimer |
|  | &nbsp;&nbsp;Chief Executive Officer |
|  | &nbsp;&nbsp;(Principal Executive Officer) |

---

## Exhibit 32.2

**Exhibit 32.2**

Certification of Chief Financial Officer<br>Pursuant to<br>18 U.S.C. Section 1350 as Adopted Pursuant to<br>Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report on Form 10-Q of Lord Abbett Private Credit Fund (the "Company") for the quarter ended March 31, 2026 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Salvatore Dona, as Chief Financial Officer of the Company, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 14, 2026

---

| | |
|:---|:---|
| By: | &nbsp;&nbsp;/s/ Salvatore Dona |
|  | &nbsp;&nbsp;Salvatore Dona |
|  | &nbsp;&nbsp;Chief Financial Officer and Treasurer |
|  | &nbsp;&nbsp;(Principal Financial Officer) |

---