Document:

EX-10.6

 Exhibit 10.6 

 
  

CUSTODY AGREEMENT 
  

 
 dated as of
        , 2020 
 by and between 

STONE POINT CREDIT CORPORATION 

(“Company”) 
 and 

U.S. BANK NATIONAL ASSOCIATION 

(“Custodian” and “Document Custodian”) 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1.
	 	 DEFINITIONS
	  	 	1	 
			
	 2.
	 	 APPOINTMENT OF CUSTODIAN
	  	 	6	 
			
	 3.
	 	 DUTIES OF CUSTODIAN
	  	 	7	 
			
	 3A.
	 	 DUTIES OF DOCUMENT CUSTODIAN
	  	 	14	 
			
	 4.
	 	 REPORTING
	  	 	15	 
			
	 5.
	 	 DEPOSIT IN U.S. SECURITIES SYSTEMS
	  	 	15	 
			
	 6.
	 	 SECURITIES HELD OUTSIDE OF THE UNITED STATES
	  	 	16	 
			
	 7.
	 	 CERTAIN GENERAL TERMS
	  	 	18	 
			
	 8.
	 	 COMPENSATION OF CUSTODIAN
	  	 	20	 
			
	 9.
	 	 RESPONSIBILITY OF CUSTODIAN
	  	 	20	 
			
	 10.
	 	 SECURITY CODES
	  	 	23	 
			
	 11.
	 	 TAX LAW
	  	 	23	 
			
	 12.
	 	 EFFECTIVE PERIOD, TERMINATION AND AMENDMENT
	  	 	23	 
			
	 13.
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	24	 
			
	 14.
	 	 PARTIES IN INTEREST; NO THIRD PARTY BENEFIT
	  	 	25	 
			
	 15.
	 	 NOTICES
	  	 	25	 
			
	 16.
	 	 CHOICE OF LAW AND JURISDICTION
	  	 	26	 
			
	 17.
	 	 ENTIRE AGREEMENT; COUNTERPARTS
	  	 	26	 
			
	 18.
	 	 AMENDMENT; WAIVER
	  	 	27	 
			
	 19.
	 	 SUCCESSOR AND ASSIGNS
	  	 	27	 
			
	 20.
	 	 SEVERABILITY
	  	 	27	 
			
	 21.
	 	 REQUEST FOR INSTRUCTIONS
	  	 	27	 
			
	 22.
	 	 OTHER BUSINESS
	  	 	27	 
			
	 23.
	 	 REPRODUCTION OF DOCUMENTS
	  	 	28	 
			
	 24.
	 	 MISCELLANEOUS
	  	 	28	 

 SCHEDULES 
 SCHEDULE A –
Initial Authorized Persons 
 EXHIBITS 
 EXHIBIT A –
Request for Release 

  
 -i- 

 THIS CUSTODY AGREEMENT (this “Agreement”) is dated as of
                    , 2020 and is by and between STONE POINT CREDIT CORPORATION (and any successor or permitted assign), a corporation formed under
the laws of the State of Delaware (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as custodian (in such capacity, along with any successor or permitted assign acting as custodian hereunder, the
“Custodian”) and as document custodian (in such capacity, along with any successor or permitted assign acting as custodian hereunder, the “Document Custodian”). 

RECITALS 
 WHEREAS, the
Company is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose shares are registered under the Securities Act of 1933, as amended (the “1933 Act”) and is authorized to issue shares of
beneficial interests; 
 WHEREAS, the Company desires to retain U.S. Bank National Association to act as custodian and as document custodian
for the Company and each Subsidiary hereafter identified to the Custodian and the Document Custodian; 
 WHEREAS, the Company desires that
the Company’s Securities (as defined below) and cash be held and administered by the custodian pursuant to this Agreement; 
 WHEREAS,
the Company desires that certain of the Company’s Loan Files (as defined below) be held by the Document Custodian pursuant to this Agreement; and 

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows: 

1.    DEFINITIONS 

1.1.    Defined Terms. In addition to terms expressly defined elsewhere herein, the following words shall have the
following meanings as used in this Agreement: 
 “Account” or “Accounts” means the Cash Account, the
Securities Account, any Subsidiary Cash Account and any Subsidiary Securities Account, collectively. 
 “Agreement” means
this Custody Agreement (as the same may be amended from time to time in accordance with the terms hereof). 
 “Authorized
Person” has the meaning set forth in Section 7.4. 
 “Business Day” means any day that is not Saturday or
Sunday and is not a legal holiday or a day in which banking institutions generally are authorized or obligated by law or regulation to remain closed in New York, New York, or the city in which the Custodian or the Document Custodian (pursuant to
Section 15 hereunder) or any sub-custodian, including any Foreign Sub-custodian, is located. 

“Cash Account” means the account to be established at the Custodian to which the Custodian shall deposit and hold any cash
Proceeds received by it from time to time from or with respect to the Securities or the sale of the shares of beneficial interests of the Company, as applicable, which account shall be designated the “Stone Point Credit Corporation Cash
Proceeds Account”. 
 “Company” has the meaning set forth in the first paragraph of this Agreement. 

 “Confidential Information” means any databases, computer programs, screen
formats, screen designs, report formats, interactive design techniques, and other similar or related information that may be furnished to the Company by the Custodian from time to time pursuant to this Agreement. 

“Custodian” has the meaning set forth in the first paragraph of this Agreement. 

“Document Custodian” means the Custodian when acting in the role of a document custodian hereunder. 

“Eligible Investment” means any investment that at the time of its acquisition is one or more of the following: 

(a)    United States government and agency obligations; 

(b)    commercial paper having a rating assigned to such commercial paper by Standard & Poor’s Rating
Services or Moody’s Investor Service, Inc. (or, if neither such organization shall rate such commercial paper at such time, by any nationally recognized rating organization in the United States of America) equal to one of the two highest
ratings assigned by such organization, it being understood that as of the date hereof such ratings by Standard & Poor’s Rating Services are “A1+” and “A1” and such ratings by Moody’s Investor Service, Inc. are
“P1” and “P2”; 
 (c)    interest bearing deposits in United States dollars in United States banks
with an unrestricted surplus of at least U.S. $250,000,000, maturing within one year; and 
 (d)    money market funds
(including funds of the bank serving as Custodian or its affiliates) or United States government securities funds designed to maintain a fixed share price and high liquidity. 

“Eligible Securities Depository” has the meaning set forth in Section (b)(1) of Rule
17f-7 under the 1940 Act. 
 “Federal Reserve Bank Book-Entry System” means a
depository and securities transfer system operated by the Federal Reserve Bank of the United States on which are eligible to be held all United States Government direct obligation bills, notes and bonds. 

“Financing Documents” has the meaning set forth in Section 3.3(b)(ii). 

“Foreign Intermediary” means a Foreign Sub-custodian and Eligible Securities
Depository. 
 “Foreign Sub-custodian” means and includes (i) any branch of a
“U.S. Bank,” as that term is defined in Rule 17f-5 under the 1940 Act, (ii) any “Eligible Foreign Custodian,” as that term is defined in
Rule 17f-5 under the 1940 Act, having a contract with the Custodian in accordance with Section 6.6, which the Custodian has determined will provide reasonable care of assets of the Company based on
the standards specified in Section 6.7 below. 
 “Foreign Securities” means Securities denominated in currencies other
than U.S. Dollars or for which the primary market is outside the United States. 
 “Loan” means any U.S. dollar denominated
commercial loan, or participation therein, made by a bank or other financial institution that by its terms provides for payments of principal and/or interest, including discount obligations and payment-
in-kind obligations, acquired by the Company from time to time. 

  
 2 

 “Loan Checklist” means a list delivered to the Document Custodian in
connection with delivery of a Loan to the Document Custodian by the Company that identifies the items contained in the related Loan File. 

“Loan File” means, with respect to each Loan delivered to the Document Custodian, each of the Required Loan Documents
identified on the related Loan Checklist. 
 “Noteless Loan” means a Loan with respect to which (i) the related loan
agreement does not require the obligor to execute and deliver an Underlying Note to evidence the indebtedness created under such Loan and (ii) no Underlying Notes are outstanding with respect to the portion of the Loan transferred to the
Company. 
 “Participation” means an interest in a Loan that is acquired indirectly by way of a participation from a
selling institution. 
 “Person” means any individual, corporation, partnership, limited liability company, joint venture,
association, joint stock company, trust (including any beneficiary thereof) unincorporated organization, or any government or agency or political subdivision thereof. 

“Proceeds” means, collectively, (i) the net cash proceeds to the Company of the initial public offering by the Company
and any subsequent offering by the Company of any class of securities issued by the Company, (ii) all cash distributions, earnings, dividends, fees and other cash payments paid on the Securities (or, as applicable, Subsidiary Securities) by or
on behalf of the issuer or obligor thereof, or applicable paying agent or administrative agent, (iii) the net cash proceeds of the sale or other disposition of the Securities (or, as applicable, Subsidiary Securities) pursuant to the terms of
this Agreement (and any Reinvestment Earnings from investment of the foregoing, as defined in Section 3.6(b) hereof) and (iv) the net cash proceeds to the Company of any borrowing or other financing by the Company. 

“Proper Instructions” means instructions (including Trade Confirmations) received by the Custodian or the Document Custodian
in form acceptable to it, from the Company, or any Person duly authorized by the Company in any of the following forms acceptable to the Custodian or the Document Custodian: 

(a)    in writing signed by an Authorized Person (and delivered by hand, by mail, by overnight courier or by facsimile);

 (b)    by electronic mail (or other electronic transmission) from an Authorized Person; 

(c)    in a communication utilizing access codes effected between electro mechanical or electronic devices; or 

(d)    such other means as may be agreed upon from time to time by the Custodian and the party giving such instructions,
including oral instructions. 
 “Reinvestment Earnings” has the meaning set forth in Section 3.6. 

“Request for Release” means a request for release of any Loan File, which request shall be either (i) delivered to the
Document Custodian substantially in the form of Exhibit A hereto or (ii) as otherwise agreed to between the Document Custodian and the Company. 

  
 3 

 “Required Loan Documents” means, for each Loan, the relevant Underlying
Loan Documents that the Company delivers to the Custodian from time to time, which shall include a Loan Checklist identifying for such Loan the Required Loan Documents to be delivered and which may include: 

(a)    other than in the case of a Participation, an executed copy of the Assignment for such Loan, as identified on the
Loan Checklist; 
 (b)    with the exception of Noteless Loans and Participations, the original executed Underlying Note
endorsed by the issuer or the prior holder of record in blank or to the Company, as identified on the Loan Checklist; 

(c)    an executed copy of the Underlying Loan Agreement (which may be included in the Underlying Note if so indicated in
the Loan Checklist), together with a copy of all amendments and modifications thereto, as identified on the Loan Checklist; 

(d)    a copy of each related security agreement (if any) signed by the applicable Obligor(s), as identified on the Loan
Checklist; 
 (e)    a copy of the Loan Checklist, and 

(f)    a copy of each related guarantee (if any) then executed in connection with such Loan, as identified on the Loan
Checklist. 
 “Responsible Officer” means any officer within the Global Corporate Trust/CDO Department of the Custodian (or
any successor group of the Custodian) or the Document Custody Group of the Document Custodian (or any successor group of the Document Custodian), including any president, vice president, assistant vice president or officer of the Custodian or the
Document Custodian, as applicable, customarily performing functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred within the Global Corporate
Trust/CDO Department of the Custodian (or any successor group of the Custodian) or the Document Custody Group of the Document Custodian (or any successor group of the Document Custodian), as applicable, because of such person’s knowledge of and
familiarity with the particular subject and, in each case, having direct responsibility for the administration of this Agreement. 

“Securities” means, collectively, the (i) investments, including Loans, acquired by the Company and delivered to the
Custodian by the Company from time to time during the term of, and pursuant to the terms of, this Agreement and (ii) all dividends in kind (e.g., non-cash dividends) from the investments described in
clause (i). 
 “Securities Account” means the segregated account to be established at the Custodian to which the Custodian
shall deposit or credit and hold the Securities (other than Loans) received by it pursuant to this Agreement, which account shall be designated the “Stone Point Credit Corporation Securities Custody Account”. 

“Securities Depository” means The Depository Trust Company and any other clearing agency registered with the Securities and
Exchange Commission under Section 17A of the Securities Exchange Act of 1934, as amended (the “1934 Act”), which acts as a system for the central handling of Securities where all Securities of any particular class or series of
an issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of the Securities. 

  
 4 

 “Securities System” means the Federal Reserve Book-Entry System, a clearing
agency which acts as a Securities Depository, or another book entry system for the central handling of securities (including an Eligible Securities Depository). 

“Shares” means the shares of beneficial interests issued by Stone Point Credit Corporation, a Delaware corporation. 

“Street Delivery Custom” means a custom of the United States securities market to deliver securities which are being sold to
the buying broker for examination to determine that the securities are in proper form. 
 “Street Name” means the form of
registration in which the securities are held by a broker who is delivering the securities to another broker for the purposes of sale, it being an accepted custom in the United States securities industry that a security in Street Name is in proper
form for delivery to a buyer and that a security may be re-registered by a buyer in the ordinary course. 

“Subsidiary” means, collectively, any wholly owned subsidiary of the Company identified to the Custodian by the Company
pursuant to Section 3.13. 
 “Subsidiary Cash Account” shall have the meaning set forth in Section 3.13(b). 

“Subsidiary Securities” means, collectively, (i) the investments, including Loans, acquired by a Subsidiary and
delivered to the Custodian from time to time during the term of, and pursuant to the terms of, this Agreement and (ii) all dividends in kind (e.g., non-cash dividends) from the investments described in
clause (i). 
 “Subsidiary Securities Account” shall have the meaning set forth in Section 3.13(a). 

“Trade Confirmation” means a trade ticket or confirmation to the Custodian from the Company of the Company’s acquisition
of a Loan, and setting forth applicable information with respect to such Loan, which confirmation may be in a form agreed to between the parties from time to time. 

“UCC” shall have the meaning set forth in Section 3.3(b)(ii). 

“Underlying Loan Agreement” means, with respect to any Loan, the document or documents evidencing the commercial loan
agreement or facility pursuant to which such Loan is made. 
 “Underlying Loan Documents” means, with respect to any Loan,
the related Underlying Loan Agreement together with any agreements and instruments (including any Underlying Note) executed or delivered in connection therewith. 

“Underlying Note” means the one or more promissory notes executed by an obligor evidencing a Loan. 

1.2.    Construction. In this Agreement unless the contrary intention appears: 

(a)    any reference to this Agreement or another agreement or instrument refers to such agreement or instrument as the
same may be amended, modified or otherwise rewritten from time to time; 

  
 5 

 (b)    a reference to a statute, ordinance, code or other law includes
regulations and other instruments under it and consolidations, amendments, re-enactments or replacements of any of them; 

(c)    any term defined in the singular form may be used in, and shall include, the plural with the same meaning, and vice
versa; 
 (d)    a reference to a Person includes a reference to the Person’s executors, custodians, successors and
permitted assigns; 
 (e)    an agreement, representation or warranty in favor of two or more Persons is for the benefit
of them jointly and severally; 
 (f)    an agreement, representation or warranty on the part of two or more Persons
binds them jointly and severally; 
 (g)    a reference to the term “including” means
“including, without limitation,”; 
 (h)    a reference to any accounting term is to be interpreted in
accordance with generally accepted principles and practices in the United States, consistently applied, unless otherwise instructed by the Company; and 

(i)    any reference to “execute”, “executed”, “sign”, “signed”,
“signature” or any other like term hereunder shall include execution by electronic signature (including, without limitation, any .pdf file, .jpeg file, or any other electronic or image file, or any “electronic signature” as
defined under the U.S. Electronic Signatures in Global and National Commerce Act (“E-SIGN”) or the New York Electronic Signatures and Records Act (“ESRA”), which includes any
electronic signature provided using Orbit, Adobe Fill & Sign, Adobe Sign, DocuSign, or any other similar platform identified by the Company and reasonably available at no undue burden or expense to the Custodian), except to the extent the
Custodian requests otherwise. Any such electronic signatures shall be valid, effective and legally binding as if such electronic signatures were handwritten signatures and shall be deemed to have been duly and validly delivered for all purposes
hereunder. 
 1.3.    Headings. Headings are inserted for convenience and do not affect the interpretation of
this Agreement. 
 2.    APPOINTMENT OF CUSTODIAN 

2.1.    Appointment and Acceptance. 

(a)    The Company hereby appoints the Custodian as custodian of all Securities and cash owned by the Company and the
Subsidiaries (as applicable) (that has been delivered to the Custodian) at any time during the period of this Agreement, on the terms and conditions set forth in this Agreement (which shall include any addendum hereto which is hereby incorporated
herein and made a part of this Agreement), and the Custodian hereby accepts such appointment and agrees to perform the services and duties set forth in this Agreement with respect to it subject to and in accordance with the provisions hereof. 

  
 6 

 (b)    The Company hereby appoints the Document Custodian as custodian
to hold the Loan Files and Required Loan Documents owned by the Company and the Subsidiaries (as applicable) and delivered to the Document Custodian from time to time during the period of this Agreement on the terms and conditions set forth in this
Agreement (which shall include any addendum hereto which is hereby incorporated herein and made a part of this Agreement), and the Document Custodian hereby accepts such appointment and agrees to perform the services and duties set forth in this
Agreement with respect to it and subject to and in accordance with the provisions hereof. 

2.2.    Instructions. The Company agrees that it shall from time to time provide, or cause to be provided, to the
Custodian or Document Custodian all necessary instructions and information, and shall respond promptly to all inquiries and requests of the Custodian or Document Custodian, as may reasonably be necessary to enable the Custodian or Document Custodian
to perform its duties hereunder. 
 2.3.    Company Responsible For Directions. The Company is solely responsible
for directing the Custodian with respect to deposits to, withdrawals from and transfers to or from the Accounts. Without limiting the generality of the foregoing, the Custodian has no responsibility for the Company’s compliance with the 1940
Act, any restrictions, covenants, limitations or obligations to which the Company may be subject or for which it may have obligations to third-parties in respect of the Accounts, and the Custodian shall have no liability for the application of any
funds made in accordance with Proper Instructions of the Company. The Company shall be solely responsible for properly instructing all applicable payors to make all appropriate payments to the Custodian for deposit to the Accounts, and for properly
instructing the Custodian with respect to the allocation or application of all such deposits. 
 3.    DUTIES OF CUSTODIAN

 3.1.    Segregation. All Securities, Subsidiary Securities and non-cash
property held by the Custodian, as applicable, for the account of the Company or Subsidiary (other than Securities maintained in a Securities Depository or Securities System) shall be physically segregated from other Securities and non-cash property in the possession of the Custodian and shall be identified as subject to this Agreement. Any Account may contain any number of sub-accounts for the
convenience of the Custodian or as required by the Company for convenience in administering such accounts. 

3.2.    Accounts. 

(a)    The Company directs the Custodian to open and maintain it its corporate trust department the Cash Account to which
the Custodian shall deposit or credit and hold any cash or Proceeds received by it from time to time on whether of the Company whether from or with respect to the Securities or the sale of the interest of the Company, as applicable. 

(b)     The Custodian shall open and maintain in its corporate trust department the Securities Account in the name of the
Company, subject only to order of the Custodian, in which the Custodian shall enter and carry, subject to Section 3.3 (b), all Securities (other than Loans) and other assets of the Company which are delivered to it in accordance with this
Agreement. For avoidance of doubt, the Custodian shall not be required to credit or deposit Loans in the Securities Account but shall instead maintain a register (in book-entry form or in such other form as it shall deem necessary or desirable) of
such Loans, containing such information as the Company and the Custodian may reasonably agree; provided that, with respect to such Loans, all Required Loan Documents shall be held in safekeeping by the Document Custodian, individually segregated
from the securities and investments of any other person and marked so as to clearly identify them as the property of the Company in a manner consistent with Rule 17f-1 under the 1940 Act and as set forth in
this Agreement. 

  
 7 

 3.3.    Delivery of Cash and Securities to Custodian. 

(a)    The Company shall deliver, or cause to be delivered, to the Custodian all of the Company’s Securities, cash and
other investment assets, including (a) all payments of income, payments of principal and capital distributions received by the Company with respect to such Securities, cash or other assets owned by the Company at any time during the period of
this Agreement, and (b) all cash received by the Company for the issuance, at any time during such period, of Shares or other securities or in connection with a borrowing by the Company. With respect to Loans, the Required Loan Documents and
other Underlying Loan Documents shall be delivered to the Document Custodian at the address identified in Section 15(c). With respect to assets other than Loans, such assets shall be delivered to the Custodian in its role as, and (where
relevant) at the address identified for, the Custodian. Except to the extent otherwise expressly provided herein, delivery of Securities to the Custodian shall be in Street Name or other good delivery form. The Custodian shall not be responsible for
such Securities, cash or other assets until actually delivered to, and received by it. 
  

	 	(b)       (i)	 In connection with its acquisition of a Loan or other delivery of a Security constituting a Loan, the Company
shall deliver or cause to be delivered to the Custodian a properly completed Trade Confirmation containing such information in respect of such Loan as the Custodian may reasonably require in order to enable the Custodian to perform its duties
hereunder in respect of such Loan on which the Custodian may conclusively rely without further inquiry or investigation, in such form and format as the Custodian reasonably may require, and shall deliver to the Document Custodian the Required Loan
Documents for all Loans, including the Loan Checklist. 

  

	 	(ii)	 Notwithstanding anything herein to the contrary, delivery of Loans acquired by the Company (or, if applicable,
Subsidiary thereof) which constitute Noteless Loans or Participations or which are otherwise not evidenced by a “security” or “instrument” as defined in Section 8-102 and Section 9-102(a)(47) of the UCC, respectively, shall be made by delivery to the Document Custodian of (i) in the case of a Noteless Loan, a copy of the loan register with respect to such Noteless Loan
evidencing registration of such Loan on the books and records of the applicable obligor or bank agent to the name of the Company or, if applicable, a Subsidiary (or, in either case, its nominee) or a copy (which may be an electronic .pdf copy) of an
assignment agreement in favor of the Company (or the applicable Subsidiary) as assignee, and (ii) in the case of a Participation, a copy of the related participation agreement. Any duty on the part of the Custodian with respect to the custody
of such Loans shall be limited to the exercise of reasonable care by the Custodian in the physical custody of any such documents delivered to it, and any related instrument, security, credit agreement, assignment agreement and/or other agreements or
documents, if any (collectively, “Financing Documents”), that may be delivered to it. Nothing herein shall require the Custodian to credit to the Securities Account or to treat as a financial asset (within the meaning of Section 8-102(a)(9) of the UCC) any such Loan or other asset in the nature of a general intangible (as defined in Section 9-102(a)(42) of the UCC) or to
“maintain” a sufficient quantity thereof. The Custodian is not under a duty to examine any such Financing Documents, or any underlying credit agreements or loan documents for such Loan to determine the validity, sufficiency, marketability
or enforceability of any Financing Document (and shall have no responsibility for the genuineness or completeness thereof), or for the Company’s title to any related Loan. The Custodian may assume the genuineness of each such Financing Document
it may receive and the genuineness and due authority of any signatures appearing thereon, and shall be entitled to assume that each such Financing Document it may receive is what it purports to be. If an original Security or instrument is or shall
be or become available with respect to any such Loan, it shall be the sole responsibility of the Company to make or cause delivery thereof to the Custodian, and the Custodian shall not be under any obligation at any time to determine whether any
such original security or instrument has been or is required to be issued or made available in respect of any Loan or to compel or cause delivery thereof to the Custodian. 

  
 8 

	 	(iii)	 The Custodian may assume the genuineness of any such Financing Document it may receive and the genuineness and
due authority of any signatures appearing thereon, and shall be entitled to assume that each such Financing Document it may receive is what it purports to be. If an original “security” or “instrument” as defined in Section 8-102 and Section 9-102(a)(47) of the UCC, respectively, is or shall be or becomes available with respect to any Loan to be held by the Custodian under this
Agreement, it shall be the sole responsibility of the Company to make or cause delivery thereof to the Document Custodian, and the Custodian shall not be under any obligation at any time to determine whether any such original security or instrument
has been or is required to be issued or made available in respect of any Loan or to compel or cause delivery thereof to the Custodian. 

  

	 	(iv)	 Contemporaneously with the acquisition of any Loan, the Company shall (i) cause any appropriate Financing
Documents evidencing such Loan to be delivered to the Custodian; (ii) if requested by the Custodian, provide to the Custodian an amortization schedule of principal payments and a schedule of the interest payable date(s) identifying the amount
and due dates of all scheduled principal and interest payments for such Loan and (iii) provide to the Custodian a properly completed Trade Confirmation containing such information in respect of such Loan as the Custodian may reasonably require
in order to enable the Custodian to perform its duties hereunder in respect of such Loan on which the Custodian may conclusively rely without further inquiry or investigation, in such form and format as the Custodian reasonably may require;
(iv) take all actions reasonably necessary for the Company to acquire good title to such Loan; and (v) take all actions as may be reasonably necessary (including appropriate payment notices and instructions to bank agents or other
applicable paying agents or administrative agents) to cause (A) all payments in respect of the Loan to be made to the Custodian and (B) all notices, solicitations and other communications in respect of such Loan to be directed to the
Company. The Custodian shall have no liability for any delay or failure on the part of the Company to provide necessary information to the Custodian, or for any inaccuracy therein or incompleteness thereof, or for any delay or failure on the part of
the Company to give such effective payment instruction to bank agents and other paying agents or administrative agents, in respect of the Loans. With respect to each such Loan, the Custodian shall be entitled to rely on any information and notices
it may receive from time to time from the related bank agent, obligor, participating bank, nationally recognized pricing service or vendor, reputable financial information reporting source or similar party with respect to the related Loan and shall
be entitled to update its records (as it may deem necessary or appropriate), or from the Company, on the basis of such information or notices received, without any obligation on its part independently to verify, investigate or recalculate such
information. 

  
 9 

 3.4.    Release of Securities. 

(a)    The Custodian or the Document Custodian, as applicable, shall release and ship for delivery, or direct its agents or
sub-custodian to release and ship for delivery, as the case may be, Securities or Required Loan Documents (or other Underlying Loan Documents) of the Company held by the Custodian, its agents or its sub-custodian from time to time upon receipt of Proper Instructions (which shall, among other things, specify the Securities or Required Loan Documents (or other Underlying Loan Documents) to be released, with such
delivery and other information as may be necessary to enable the Custodian or Document Custodian to perform), which may be standing instructions (in form acceptable to the Custodian) in the following cases: 

 

	 	(i)	 upon sale of such Securities by or on behalf of the Company and, such sale may, unless otherwise directed by
Proper Instructions, be carried out by the Custodian: 

  

	 	(A)	 in accordance with the customary or established practices and procedures in the jurisdiction or market where
the transactions occur, including delivery to the purchaser thereof or to a dealer therefor (or an agent of such purchaser or dealer) against expectation of receiving later payment; or 

 

	 	(B)	 in the case of a sale effected through a Securities System, in accordance with the rules governing the
operations of the Securities System; 

  

	 	(ii)	 upon the receipt of payment in connection with any repurchase agreement related to such Securities;

  

	 	(iii)	 to a depositary agent in connection with tender or other similar offers for securities; 

 

	 	(iv)	 to the issuer thereof or its agent when such Securities are called, redeemed, retired or otherwise become
payable (unless otherwise directed by Proper Instructions, the cash or other consideration is to be delivered to the Custodian, its agents or its sub-custodian); 

 

	 	(v)	 to an issuer thereof, or its agent, for transfer into the name of the Custodian or of any nominee of the
Custodian or into the name of any of its agents or sub-custodian or their nominees or for exchange for a different number of bonds, certificates or other evidence representing the same aggregate face amount or
number of units; 

  
 10 

	 	(vi)	 to brokers clearing banks or other clearing agents for examination in accordance with the Street Delivery
Custom; 

  

	 	(vii)	 for exchange or conversion pursuant to any plan of merger, consolidation, recapitalization, reorganization or
readjustment of the Securities of the issuer of such Securities, or pursuant to any deposit agreement (unless otherwise directed by Proper Instructions, the new securities and cash, if any, are to be delivered to the Custodian, its agents or its sub-custodian); 

  

	 	(viii)	 in the case of warrants, rights or similar securities, the surrender thereof in the exercise of such warrants,
rights or similar securities or the surrender of interim receipts or temporary securities for definitive securities (unless otherwise directed by Proper Instructions, the new securities and cash, if any, are to be delivered to the Custodian, its
agents or its sub-custodian); and/or 

  

	 	(ix)	 for any other purpose, but only upon receipt of Proper Instructions. 

3.5.    Registration of Securities. Securities held by the Custodian, its agents or its sub-custodian (other than bearer securities, securities held in a Securities System or Securities that are Noteless Loans or Participations) shall be registered in the name of the Company or its nominee; or, at the
option of the Custodian (if the Custodian determines it cannot hold such security in the name of the Company), in the name of the Custodian or in the name of any nominee of the Custodian, or in the name of its agents or its sub-custodian or their nominees; or if directed by the Company by Proper Instruction, may be maintained in Street Name. The Custodian, its agents and its sub-custodian shall
not be obligated to accept Securities on behalf of the Company under the terms of this Agreement unless such Securities are in Street Name or other good deliverable form. 

3.6.    Bank Accounts, and Management of Cash 

(a)    Proceeds from the Securities received by the Custodian from time to time shall be deposited into or credited to the
Cash Account. All amounts deposited into or credited to the Cash Account shall be subject to clearance and receipt of final payment by the Custodian. 

(b)    Amounts held in the Cash Account from time to time may be invested in Eligible Investments pursuant to specific
written Proper Instructions (which may be standing instructions) received by the Custodian from an Authorized Person acting on behalf of the Company. Such investments shall be subject to availability and the Custodian’s then applicable
transaction charges (which shall be at the Company’s expense). The Custodian shall have no liability for any loss incurred on any such investment. Absent receipt of such written instruction from the Company, the Custodian shall have no
obligation to invest (or otherwise pay interest on) amounts on deposit in the Cash Account. In no instance will the Custodian have any obligation to provide investment advice to the Company. Any earnings from such investment of amounts held in the
Cash Account from time to time (collectively, “Reinvestment Earnings”) shall be redeposited in the Cash Account (and may be reinvested at the written direction of the Company). The Custodian shall have no liability for any losses on
any investments made as described herein. 
 (c)    In the event that the Company shall at any time request a withdrawal
of amounts from the Cash Account, the Custodian shall be entitled to liquidate, and shall have no liability for any loss incurred as a result of the liquidation of, any investment of the funds credited to such account as needed to provide necessary
liquidity. Investment instructions may be in the form of standing instructions (in the form of Proper Instructions acceptable to the Custodian). 

  
 11 

 (d)    The Company acknowledges that cash deposited or invested with any
bank (including the bank acting as Custodian) may make a margin or generate banking income for which such bank shall not be required to account to the Company. 

(e)    The Custodian shall be authorized to open such additional accounts as may be necessary or convenient for
administration of its duties hereunder, with notice to be provided to the Company in advance. 
 3.7.    Foreign
Exchange 
  

	 	(i)	 Upon the receipt of Proper Instructions, the Custodian, its agents or its
sub-custodians may (but shall not be obligated to) enter into all types of contracts for foreign exchange on behalf of the Company, upon terms acceptable to the Custodian and the Company (in each case at the
Company’s expense), including transactions entered into with the Custodian, its sub-custodians or any affiliates of the Custodian or the sub-custodians. The
Custodian shall have no liability for any losses incurred in or resulting from the rates obtained in such foreign exchange transactions; and absent specific and acceptable Proper Instructions, the Custodian shall not be deemed to have any duty to
carry out any foreign exchange on behalf of the Company. The Custodian shall be entitled at all times to comply with any legal or regulatory requirements applicable to currency or foreign exchange transactions. 

 

	 	(ii)	 The Company acknowledges that the Custodian, any sub-custodian or any
affiliates of the Custodian or any sub-custodian, involved in any such foreign exchange transactions may make a margin or generate banking income from foreign exchange transactions entered into pursuant to
this section for which they shall not be required to account to the Company. 

 3.8.    Collection
of Income. The Custodian, its agents or its sub-custodian shall use reasonable efforts to collect on a timely basis all income and other payments with respect to the Securities held hereunder to which the
Company shall be entitled, to the extent consistent with usual custom in the securities custodian business in the United States. Nothing herein shall be construed to obligate the Custodian to (i) undertake any collection actions on behalf of
the Company against any issuer or obligor (or agents thereof) of a Security or (ii) commence, prosecute or defend legal proceedings in any instance, whether on behalf of the Company on its own behalf or otherwise, with respect to any matter
arising hereunder or relating to this Agreement or the services contemplated hereby. 
 3.9.    Payment of
Moneys. 
 (a)    Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay
out from the Cash Account (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases: 

 

	 	(i)	 upon the purchase of Securities for the Company pursuant to such Proper Instruction; and such purchase may,
unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian: 

  

	 	(A)	 in accordance with the customary or established practices and procedures in the jurisdiction or market where
the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or 

  
 12 

	 	(B)	 in the case of a purchase effected through a Securities System, in accordance with the rules governing the
operation of such Securities System; 

  

	 	(ii)	 for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company,
including transactions executed with or through the Custodian, its agents or its sub-custodians, as contemplated by Section 3.7 above; and 

 

	 	(iii)	 for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the
amount of such payment, and naming the Person or Persons to whom such payment is to be made. 

(b)    At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from the
Cash Account, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5
below, provided, however, that in each case all such payments shall be accounted for to the Company. 

3.10.    Proxies. The Custodian will, with respect to the Securities held hereunder, use reasonable efforts to
cause to be made available to the Company proxies, proxy soliciting materials and notices relating to such Securities received by the Custodian from its agents or its sub-custodians or from issuers of the
Securities being held for the Company, without indication of the manner in which such proxies are to be voted. The Company may respond to such proxies, or may provide Proper Instructions to the Custodian to respond to such proxies on its behalf. In
order for the Custodian to act, it must receive Proper Instructions no later than the deadline applicable to responses for corporate actions for the bank serving as Custodian. In the absence of such Proper Instructions, or in the event that such
Proper Instructions are not received in a timely fashion, the Custodian shall be under no duty to act with regard to such proxies. Notwithstanding the above, neither the Custodian nor any nominee of the Custodian shall vote any of the Securities
held hereunder by or for the account of the Company, except in accordance with Proper Instructions. 

3.11.    Communications Relating to Securities. The Custodian shall transmit promptly to the Company all written
information (including pendency of calls and maturities of Securities and expirations of rights in connection therewith) received by the Custodian, from its agents or its sub-custodian or from issuers of the
Securities being held for the Company. The Custodian shall have no obligation or duty to exercise any right or power, or otherwise to preserve rights, in or under any Securities unless and except to the extent it has received timely Proper
Instruction from the Company in accordance with the next sentence. The Custodian will not be liable for any untimely exercise of any right or power in connection with Securities at any time held by the Custodian, its agents or sub-custodian unless: 
  

	 	(i)	 the Custodian has received Proper Instructions with regard to the exercise of any such right or power; and

  
 13 

	 	(ii)	 the Custodian, or its agents or sub-custodian are in actual possession
of such Securities, 

 in each case, at least three (3) Business Days prior to the date on which such right or power
is to be exercised. It will be the responsibility of the Company to notify the Custodian of the Person to whom such communications must be forwarded under this Section. 

3.12.    Records. The Custodian shall create and maintain complete records relating to its activities under this
Agreement with respect to the Securities, cash or other property held for the Company under this Agreement. All such records shall be the property of the Company and shall at all times during the regular business hours of the Custodian be open for
inspection by duly authorized officers, employees or agents of the Company, upon reasonable request and at least five Business Days’ prior written notice and at the Company’s expense. The Custodian shall, at the Company’s request,
supply the Company with a tabulation of securities owned by the Company and held by the Custodian and shall, when requested to do so by the Company and for such compensation as shall be agreed upon between the Company and the Custodian, include, to
the extent applicable, the certificate numbers in such tabulations, to the extent such information is available to the Custodian. 

3.13.    Custody of Subsidiary Securities. 

(a)    At the request of the Company, with respect to each Subsidiary identified to the Custodian by the Company, there
shall be established at the Custodian a segregated account to which the Custodian shall deposit and hold any Subsidiary Securities (other than Loans) received by it (and any Proceeds received by it in the form of dividends in kind) pursuant to this
Agreement, which account shall be designated the “[INSERT NAME OF SUBSIDIARY] Securities Account” (the “Subsidiary Securities Account”). 

(b)    At the request of the Company, with respect to each Subsidiary identified to the Custodian by the Company, there
shall be established at the Custodian a segregated account to which the Custodian shall deposit and hold any cash Proceeds received by it from time to time from or with respect to Subsidiary Securities, which account shall be designated the
“[INSERT NAME OF SUBSIDIARY] Cash Proceeds Account” (the “Subsidiary Cash Account”) 
 (c)    To the
maximum extent possible, the provisions of this Agreement regarding Securities of the Company, the Securities Account and the Cash Account shall be applicable to any Subsidiary Securities, Subsidiary Securities Account and Subsidiary Cash Account,
respectively. The parties hereto agree that the Company shall notify the Custodian in writing as to the establishment of any Subsidiary as to which the Custodian is to serve as custodian pursuant to the terms of this Agreement; and identify in
writing any accounts the Custodian shall be required to establish for such Subsidiary as herein provided. 
  

	3A.	 DUTIES OF DOCUMENT CUSTODIAN. 

 

	 	(a)	 With respect to Loans, Required Loan Documents and other Underlying Loan Documents shall be delivered to the
Custodian in its role as, and at the address identified for, the Document Custodian. All Required Loan Documents shall be held in safekeeping by the Document Custodian, individually segregated from the securities and investments of any other Person
and marked so as to clearly identify them as the property of the Company. 

  
 14 

	 	(b)	 In connection with its acquisition of a Loan or other delivery of a Security constituting a Loan, the Company
shall deliver or cause to be delivered to the Document Custodian the Required Loan Documents, including the Loan Checklist. 

  

	 	(c)	 The Document Custodian shall release and ship for delivery, or direct its agents or sub-custodian to release and ship for delivery, as the case may be, Required Loan Documents (or other Underlying Loan Documents) of the Company held by the Document Custodian, its agents or its sub-custodian from time to time within five (5) Business Days of its receipt of a Request for Release (which shall, among other things, specify the Required Loan Documents (or other Underlying Loan Documents)
to be released, with such delivery and other information as may be necessary to enable the Document Custodian to perform (including the delivery method). Any request for release by the Company shall be in the form of the Request for Release. The
Company is authorized to transmit and the Document Custodian is authorized to accept signed email copies of Requests for Release submitted in the form attached hereto as Exhibit A (or as otherwise agreed between the Document Custodian and the
Company). 

  

	 	(d)	 For the avoidance of doubt, the Document Custodian shall have no obligation to review or monitor any Required
Loan Documents or other Underlying Loan Documents but shall only be required to hold those Required Loan Documents or other Underlying Loan Documents received by it in accordance with this Agreement. All rights, protections, indemnities, immunities
and limitations of liabilities provided in this Agreement in favor of the Custodian under this Agreement shall also apply to the Document Custodian, in each case, as applicable in order to give maximum effect to the Document Custodian’s
contemplated responsibilities hereunder. 

  

	4.	 REPORTING 

(a)    If requested by the Company, the Custodian shall render to the Company a monthly report of (i) all deposits to
and withdrawals from the Cash Account during the month, and the outstanding balance (as of the last day of the preceding monthly report and as of the last day of the subject month) and (ii) an itemized statement of the Securities held pursuant
to this Agreement as of the end of each month, as well as a list of all Securities transactions that remain unsettled at that time, and (iii) such other matters as the parties may agree from time to time. 

(b)    For each Business Day, the Custodian shall render to the Company a daily report of (i) all deposits to and
withdrawals from the Cash Account for such Business Day and the outstanding balance as of the end of such Business Day, and (ii) a report of settled trades of Securities for such Business Day. 

(c)    The Custodian shall have no duty or obligation to undertake any market valuation of the Securities under any
circumstance. 
  

	5.	 DEPOSIT IN U.S. SECURITIES SYSTEMS 

The Custodian may deposit and/or maintain Securities in a Securities System within the United States in accordance with applicable Federal
Reserve Board and Securities and Exchange Commission rules and regulations, and subject to the following provisions: 

(a)    The Custodian may keep domestic Securities in a U.S. Securities System provided that such Securities are
represented in an account of the Custodian in the U.S. Securities System which shall not include any assets of the Custodian other than assets held by it as a fiduciary, custodian or otherwise for customers; 

  
 15 

 (b)    The records of the Custodian with respect to Securities which are
maintained in a U.S. Securities System shall identify by book-entry those Securities belonging to the Company; 

(c)    If requested by the Company, the Custodian shall provide to the Company copies of all notices received from the
U.S. Securities System of transfers of Securities for the account of the Company; and 
 (d)    Anything to the contrary
in this Agreement notwithstanding, the Custodian shall not be liable to the Company for any direct loss, damage, cost, expense, liability or claim to the Company resulting from use of any U.S. Securities System. 

 

	6.	 SECURITIES HELD OUTSIDE OF THE UNITED STATES 

6.1.    Appointment of Foreign Sub-custodian. The Company hereby authorizes
and instructs the Custodian in its sole discretion to employ one or more Foreign Sub-custodians to act as Eligible Securities Depositories or Foreign Sub-custodian to
hold the Securities and other assets of the Company maintained outside the United States (with notice to the Company). If, after the initial approval of a Foreign Sub-custodian by the board of directors of the
Company in connection with this Agreement, the Custodian wishes to appoint other Foreign Sub-custodians to hold property of the Company subject to this Agreement, it will so notify the Company and provide it
with information reasonably necessary to determine any such new Foreign Sub-custodian’s eligibility, including a copy of the proposed agreement with such Foreign
Sub-custodian. The Company shall at the meeting of its board of directors next following receipt of such notice and information approve or disapprove of the proposed action. 

6.2.    Assets to be Held. The Custodian shall limit the Securities and other assets maintained in the custody of
the Foreign Sub-custodians to: (a) Foreign Securities and (b) cash and cash equivalents in such amounts as the Company (through Proper Instructions) may determine to be reasonably necessary to effect
the Company’s transactions in such investments. 
 6.3.    Omnibus Accounts. The Custodian may hold Foreign
Securities and related Proceeds with one or more Foreign Sub-custodians or Eligible Securities Depositories in each case in a single account with such Foreign
Sub-custodian or Eligible Securities Depository that is identified as belonging to the Custodian for the benefit of its customers, provided however, that the records of the Custodian with respect to Securities
and related Proceeds which are property of the Company maintained in such account(s) shall identify by book-entry those Securities and other property as belonging to the Company 

6.4.    Reports Concerning Foreign Sub-custodians. The Custodian will
supply to the Company, upon request from time to time, statements in respect of the Securities held by Foreign Sub-custodians or Eligible Securities Depositories, including an identification of the Foreign Sub-custodians and Eligible Securities Depositories having physical possession of the Foreign Securities. 

6.5.    Transactions in Foreign Custody Account. Notwithstanding any provision of this Agreement to the contrary,
settlement and payment for Securities received by a Foreign Intermediary for the account of the Company may be effected in accordance with the customary established securities trading or securities processing practices and procedures in the
jurisdiction or market in which the transaction occurs, including delivering securities to the purchaser thereof or to a dealer therefor (or an agent for such purchaser or dealer) against a receipt with the expectation of receiving later payment for
such securities from such purchaser or dealer. 

  
 16 

 6.6.    Foreign
Sub-custodians. Each contract or agreement pursuant to which the Custodian employs a Foreign Sub-custodian shall include provisions that provide: (i) for
indemnification or insurance arrangements (or any combination of the foregoing) such that the Company will be adequately protected against the risk of loss of assets held in accordance with such contract; (ii) that the Company’s assets
will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the Foreign Sub-custodian or its creditors except a claim of payment for their safe custody or administration,
in the case of cash deposits, liens or rights in favor of creditors of the Foreign Sub-custodian arising under bankruptcy, insolvency, or similar laws; (iii) that beneficial ownership for the
Company’s assets will be freely transferable without the payment of money or value other than for safe custody or administration; (iv) that adequate records will be maintained identifying the assets as belonging to the Company or as being
held by a third party for the benefit of the Company; (v) that the Company’s independent public accountants will be given access to those records or confirmation of the contents of those records; and (vi) that the Company will receive
periodic reports with respect to the safekeeping of the Company’s assets, including notification of any transfer to or from a Company’s account or a third-party account containing assets held for the benefit of the Company. Such contract
may contain, in lieu of any or all of the provisions specified above, such other provisions that the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for the Company’s assets as the
specified provisions, in their entirety. 
 6.7.    Custodian’s Responsibility for Foreign Sub-custodians. 
  

	 	(i)	 With respect to its responsibilities under this Section 6, the Custodian agrees to exercise reasonable
care, prudence and diligence such as a person having responsibility for the safekeeping of property of the Company would exercise. The Custodian further agrees that the Foreign Securities will be subject to reasonable care, based on the standards
applicable to custodians in the relevant market, if maintained with each Foreign Sub-custodian, after considering all factors relevant to the safekeeping of such assets, including: (i) the Foreign Sub-custodian’s practices, procedures, and internal controls for certificated securities (if applicable), method of keeping custodial records, and security and data protection practices; (ii) whether the
Foreign Sub-custodian has the requisite financial strength to provide reasonable care for the Company’s assets; (iii) the Foreign Sub-custodian’s general
reputation and standing and, in the case of Eligible Securities Depository, the Eligible Securities Depository’s operating history and number of participants; and (iv) whether the Company will have jurisdiction over and be able to enforce
judgments against the Foreign Sub-custodian, such as by virtue of the existence of any offices of the Foreign Sub-custodian in the United States or the Sub-custodian’s consent to service of process in the United States. 

  

	 	(ii)	 At the end of each calendar quarter, the Custodian shall provide written reports notifying the board of
directors of the Company as to the placement of the Foreign Securities and cash of the Company with a particular Foreign Sub-custodian and of any material changes in the Company’s foreign custody
arrangements. The Custodian shall promptly take such steps as may be required to withdraw assets of the Company from any Foreign Sub-custodian that has ceased to meet the requirements of Rule 17f-5 under the 1940 Act. 

  

	 	(iii)	 The Custodian shall establish a system to monitor the appropriateness of maintaining the Company’s assets
with a particular Foreign Sub-custodian and the performance of the contract governing the Company’s arrangements with such Foreign Sub-custodian.

  

	 	(iv)	 The Custodian’s responsibility with respect to the selection or appointment of Foreign Sub-custodians shall be limited to a duty to exercise reasonable care in the selection or retention of such Foreign Sub-Custodians in light of prevailing settlement and
securities handling practices, procedures and controls in the relevant market. The Company shall be responsible for all costs, expenses, damages, liabilities, or claims (including attorneys’ and accountants’ fees) incurred as a result of
the acts or the failure to act by any Foreign Sub-custodian. The Custodian shall have no responsibility for any act or omission (or the insolvency of) any Securities System (including an Eligible Securities
Depository). In the event the Company incurs a loss due to the negligence, willful misconduct, or insolvency of a Securities System (including an Eligible Securities Depository), the Custodian shall make reasonable endeavors, in its discretion, to
seek recovery from the Eligible Securities Depository. 

  
 17 

	7.	 CERTAIN GENERAL TERMS 

7.1.    No Duty to Examine Underlying Instruments. Nothing herein shall obligate the Custodian to review or examine
the terms of any Financing Document, underlying instrument, certificate, credit agreement, indenture, loan agreement, promissory note, or other financing document evidencing or governing any Security to determine the validity, sufficiency,
marketability or enforceability of any Security (and shall have no responsibility for the genuineness or completeness thereof), or otherwise. 

7.2.    Resolution of Discrepancies. In the event of any discrepancy between the information set forth in any
report provided by the Custodian to the Company and any information contained in the books or records of the Company, the Company shall promptly notify the Custodian thereof and the parties shall cooperate to diligently resolve the discrepancy. 

7.3.    Improper Instructions. Notwithstanding anything herein to the contrary, the Custodian shall not be
obligated to take any action (or forebear from taking any action), which it reasonably determines (at its sole option) to be contrary to the terms of this Agreement or applicable law. In no instance shall the Custodian be obligated to provide
services on any day that is not a Business Day. 
 7.4.    Proper Instructions 

(a)    The Company will give written notice to the Custodian, in form acceptable to the Custodian, specifying the names and
specimen signatures (whether manual, facsimile, .pdf or other electronic signature) of persons authorized to give Proper Instructions (collectively, “Authorized Persons” and each is an “Authorized Person”) which
notice shall be signed (whether manual, facsimile, .pdf or other electronic signature) by an Authorized Person previously certified to the Custodian. The Custodian shall be entitled to rely upon the identity and authority of such persons until it
receives written notice from an Authorized Person of the Company to the contrary. The initial Authorized Persons are set forth on Schedule B attached hereto and made a part hereof (as such Schedule B may be modified from time to time
by written notice from the Company to the Custodian); and the Company hereby represents and warrants that the true and accurate specimen signatures of such initial Authorized Persons are set forth on Schedule B. The Custodian shall be
entitled to accept and act upon Proper Instructions sent by unsecured email, facsimile transmission or other similar unsecured electronic methods. If such person on behalf of the Company elects to give the Custodian email or facsimile instructions
(or instructions by a similar electronic method) and the Custodian in its discretion elects to act upon such instructions, the Custodian’s reasonable understanding of such instructions shall be deemed controlling. The Custodian shall not be
liable for any losses, costs or expenses arising directly or indirectly from the Custodian’s reliance upon and compliance with such instructions notwithstanding such instructions conflicting with or being inconsistent with a subsequent written
instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Custodian, including without limitation the risk of the Custodian acting on unauthorized instructions,
and the risk of interception and misuse by third parties and acknowledges and agrees that there may be more secure methods of transmitting such instructions than the method(s) selected by it and agrees that the security procedures (if any) to be
followed in connection with its transmission of such instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances. 

  
 18 

 (b)    The Custodian shall have no responsibility or liability to the
Company (or any other person or entity), and shall be indemnified and held harmless by the Company, in the event that a subsequent written confirmation of an oral instruction fails to conform to the oral instructions received by the Custodian. The
Custodian shall not have an obligation to act in accordance with purported instructions to the extent that they conflict with applicable law or regulations, local market practice or the Custodian’s operating policies and practices. The
Custodian shall not be liable for any loss resulting from a delay while it obtains clarification of any Proper Instructions. 

7.5.    Actions Permitted Without Express Authority. The Custodian may, at its discretion, without express
authority from the Company: 
 (a)    make payments to itself as described in or pursuant to Section 3.9(b), or to
make payments to itself or others for expenses of handling securities or other similar items relating to its duties under this Agreement, provided that all such payments shall be accounted for to the Company; 

(b)    surrender Securities in temporary form for Securities in definitive form; 

(c)    endorse for collection cheques, drafts and other negotiable instruments; and 

(d)    in general attend to all nondiscretionary details in connection with the sale, exchange, substitution, purchase,
transfer and other dealings with the securities and property of the Company. 
 7.6.    Evidence of Authority.
The Custodian shall be protected in acting upon any instructions, notice, request, consent, certificate instrument or paper reasonably believed by it to be genuine and to have been properly executed (whether by manual, facsimile, .pdf or other
electronic signature) or otherwise given by or on behalf of the Company by an Authorized Person. The Custodian may receive and accept a certificate signed (whether by manual, facsimile, .pdf or other electronic signature) by any Authorized Person as
conclusive evidence of: 
 (a)    the authority of any person to act in accordance with such certificate; or 

(b)    any determination or of any action by the Company as described in such certificate, 

and such certificate may be considered as in full force and effect until receipt by the Custodian of written notice to the contrary from an
Authorized Person of the Company. 
 7.7.    Receipt of Communications. Any communication received by the
Custodian on a day which is not a Business Day or after 4:00 p.m., Eastern time (or such other time as is agreed by the Company and the Custodian from time to time), on a Business Day will be deemed to have been received on the next Business Day
(but in the case of communications so received after 3:30 p.m., Eastern time, on a Business Day the Custodian will use reasonable efforts to process such communications as soon as possible after receipt). 

  
 19 

 7.8    Actions on the Loans. The Custodian shall have no duty or
obligation hereunder to take any action on behalf of the Company, to communicate on behalf of the Company, to collect amounts or proceeds in respect of, or otherwise to interact or exercise rights or remedies on behalf of the Company, with respect
to any of the Loans. All such actions and communications are the responsibility of the Company. 
  

	8.	 COMPENSATION OF CUSTODIAN 

8.1.    Fees. The Custodian and the Document Custodian shall be entitled to compensation for its services in
accordance with the terms of that certain fee letter dated [                    ], 2020, between the Company and the Custodian. 

8.2.    Expenses. The Company agrees to pay or reimburse to the Custodian and the Document Custodian upon its
request from time to time all reasonable costs, disbursements, advances, expenses and indemnification amounts (including reasonable fees and expenses of legal counsel, agents and experts) incurred, and any disbursements and advances made (including
any account overdraft resulting from any settlement or assumed settlement, provisional credit, chargeback, returned deposit item, reclaimed payment or claw-back, or the like), in connection with the preparation or execution of this Agreement, or in
connection with the transactions contemplated hereby or the administration or enforcement of this Agreement or performance by the Custodian or the Document Custodian, as applicable, of its duties and services under this Agreement, from time to time
(including costs and expenses of any action deemed necessary by the Custodian or the Document Custodian to collect any amounts owing to it under this Agreement). 

The obligations of the Company under this Section 8 and such separate agreements shall survive the termination of this Agreement or the earlier
resignation or removal of the Custodian. 
  

	9.	 RESPONSIBILITY OF CUSTODIAN 

9.1.    General Duties. The Custodian shall have no duties, obligations or responsibilities under this Agreement or
with respect to the Securities or Proceeds except for such duties as are expressly and specifically set forth in this Agreement, and the duties and obligations of the Custodian shall be determined solely by the express provisions of this Agreement.
No implied duties, obligations or responsibilities shall be read into this Agreement against, or on the part of, the Custodian. 

9.2.    Instructions 

(a)    The Custodian shall be entitled to refrain from taking any action unless it has such instruction (in the form of
Proper Instructions) from the Company as it reasonably deems necessary, and shall be entitled to require, upon notice to the Company, that Proper Instructions to it be in writing. The Custodian shall have no liability for any action (or forbearance
from action) taken pursuant to the Proper Instruction of the Company. 
 (b)    Whenever the Custodian is entitled or
required to receive or obtain any communications or information pursuant to or as contemplated by this Agreement, it shall be entitled to receive the same in writing, in form, content and medium reasonably acceptable to it and otherwise in
accordance with any applicable terms of this Agreement; and whenever any report or other information is required to be produced or distributed by the Custodian it shall be in form, content and medium reasonably acceptable to it and the Company, and
otherwise in accordance with any applicable terms of this Agreement. 

  
 20 

 9.3.    General Standards of Care. Notwithstanding any terms
herein contained to the contrary, the acceptance by the Custodian and the Document Custodian of each of their appointments hereunder is expressly subject to the following terms, which shall govern and apply to each of the terms and provisions of
this Agreement (whether or not so stated therein): 
 (a)    Each of the Custodian and the Document Custodian may rely on
and shall be protected in acting or refraining from acting upon any written notice, instruction, statement, certificate, request, waiver, consent, opinion, report, receipt or other paper, electronic communication or document furnished to it
(including any of the foregoing provided to it by facsimile or electronic means), not only as to its due execution and validity, but also as to the truth and accuracy of any information therein contained, which it in good faith believes to be
genuine and signed (whether by manual, facsimile, .pdf or other electronic signature) or presented by the proper person (which in the case of any instruction from or on behalf of the Company shall be an Authorized Person); and the Custodian and the
Document Custodian shall be entitled to presume the genuineness and due authority of any signature (whether manual, facsimile, .pdf or other electronic signature) appearing thereon. Neither the Custodian nor the Document Custodian shall be bound to
make any independent investigation into the facts or matters stated in any such notice, instruction, statement, certificate, request, waiver, consent, opinion, report, receipt, electronic communication or other paper or document. 

(b)    Neither the Custodian, the Document Custodian nor any of their directors, officers or employees shall be liable to
anyone for any error of judgment, or for any act done or step taken or omitted to be taken by it (or any of its directors, officers or employees), or for any mistake of fact or law, or for anything which it may do or refrain from doing in connection
herewith, unless such action constitutes gross negligence, willful misconduct or bad faith on its part and in breach of the terms of this Agreement. Neither the Custodian nor the Document Custodian shall be liable for any action taken by it in good
faith and reasonably believed by it to be within powers conferred upon it, or taken by it pursuant to any direction or instruction by which it is governed hereunder, or omitted to be taken by it by reason of the lack of direction or instruction
required hereby for such action. Neither the Custodian nor the Document Custodian shall be under any obligation at any time to ascertain whether the Company is in compliance with the 1940 Act, the regulations thereunder, or the Company’s
investment objectives and policies then in effect. 
 (c)    In no event shall the Custodian or the Document Custodian
be liable for any indirect, incidental, special, punitive or consequential damages (including lost profits or diminution of value), whether or not it has been advised of the likelihood of such damages. 

(d)    The Custodian and the Document Custodian may consult with, and obtain advice from, legal counsel selected in good
faith with respect to any question as to any of the provisions hereof or its duties hereunder, or any matter relating hereto, and the written opinion or advice of such counsel shall be full and complete authorization and protection in respect of any
action taken, suffered or omitted by the Custodian or the Document Custodian in good faith in accordance with the opinion and directions of such counsel; the reasonable cost of such services shall be reimbursed pursuant to Section 8.2 above.

 (e)    Neither the Custodian nor the Document Custodian shall be deemed to have notice of any fact, claim or demand
with respect hereto unless actually known by a Responsible Officer or unless (and then only to the extent received) in writing by a Responsible Officer of the Custodian or the Document Custodian at the applicable address(es) as set forth in
Section 15 and specifically referencing this Agreement. 

  
 21 

 (f)    No provision of this Agreement shall require the Custodian or the
Document Custodian to expend or risk its own funds, or to take any action (or forbear from action) hereunder which might in its judgment involve any expense or any financial or other liability unless it shall be furnished with acceptable
indemnification. Nothing herein shall obligate the Custodian or the Document Custodian to commence, prosecute or defend legal proceedings in any instance, whether on behalf of the Company or on its own behalf or otherwise, with respect to any matter
arising hereunder, or relating to this Agreement or the services contemplated hereby. 
 (g)    The permissive rights of
the Custodian and the Document Custodian to take any action hereunder shall not be construed as duty. 
 (h)    The
Custodian and the Document Custodian may each act or exercise its duties or powers hereunder through agents (including, for the avoidance of doubt, sub-custodians) or attorneys, and the Custodian and the
Document Custodian, as applicable, shall not be liable or responsible for the actions or omissions of any such agent or attorney appointed with due care (including, for the avoidance of doubt, in the case of
sub-custodians, in accordance with Section 3.14). 
 (i)    All
indemnifications contained in this Agreement in favor of the Custodian and the Document Custodian shall survive the termination of this Agreement or earlier resignation or removal of the Custodian or the Document Custodian, as applicable. 

9.4.    Indemnification; Custodian’s Lien. 

(a)    The Company shall and does hereby indemnify and hold harmless each of the Custodian, the Document Custodian and each
of their officers, directors, employees, attorneys, agents, advisors, successors and assigns (collectively, the “Indemnified Persons” and each an “Indemnified Person”), for and from any and all costs and expenses
(including reasonable fees and expenses of attorneys, agents and experts) and any and all losses, damages, claims (whether brought by or involving the Company or any third party) and liabilities, that may arise, be brought against or incurred by an
Indemnified Person, whether brought by or involving the Company or any third party and whether direct, indirect, or consequential, as a result of or arising from or in any way relating to any claim, demand, suit, action or proceeding (including any
inquiry or investigation) by any person, including without limitation the Company or any Subsidiary, and any advances or disbursements made by the Custodian or the Document Custodian (including in respect of any Account overdraft, returned deposit
item, chargeback, provisional credit, settlement or assumed settlement, reclaimed payment, claw-back or the like), as a result of, relating to, or arising out of this Agreement, or the administration or performance of the duties of the Custodian and
the Document Custodian hereunder, or the relationship between the Company (including, for the avoidance of doubt, any Subsidiary), the Custodian and the Document Custodian created hereby, including the enforcement of any indemnification rights
hereunder, other than such liabilities, losses, damages, claims, costs and expenses as are directly caused by the Custodian’s or the Document Custodian’s, as applicable, own action or inaction constituting gross negligence, bad faith or
willful misconduct on its part. 
 (b)    The Custodian shall have and is hereby granted a continuing lien upon and
security interest in, and right of set-off against, the Account, and any funds (and investments in which such funds may be invested) held therein or credited thereto from time to time, whether now held or
hereafter required, and all proceeds thereof, to secure the payment of any amounts that may be owing to the Custodian under or pursuant to the terms of this Agreement, whether now existing or hereafter arising. 

  
 22 

 9.5    Force Majeure. Without prejudice to the generality of the
foregoing, neither the Custodian nor the Document Custodian shall be liable to the Company for any damage or loss resulting from or caused by events or circumstances beyond the reasonable control of the Custodian or Document Custodian, including
nationalization, expropriation, currency restrictions, the interruption, disruption or suspension of the normal procedures and practices of any securities market, power, mechanical, communications or other technological failures or interruptions
beyond their control, computer viruses or the like, fires, floods, earthquakes or other natural disasters, civil and military disturbance, acts of war or terrorism, riots, revolution, acts of God, work stoppages, strikes, national disasters of any
kind, or other similar events or acts; errors by the Company (including any Authorized Person) in its instructions to the Custodian or the Document Custodian; or changes in applicable law, regulation or orders. 

 

	10.	 SECURITY CODES 

If the Custodian or the Document Custodian issues to the Company, security codes, passwords or test keys in order that it may verify that
certain transmissions of information, including Proper Instructions, have been originated by the Company, the Company shall safeguard any security codes, passwords, test keys or other security devices which the Custodian or Document Custodian shall
make available. 
  

	11.	 TAX LAW 

11.1.    Domestic Tax Law. The Custodian shall have no responsibility or liability for any obligations now or
hereafter imposed on the Company or the Custodian as custodian of the Securities or the Proceeds, by the tax law of the United States or any state or political subdivision thereof. The Custodian shall be kept indemnified by and be without liability
to the Company for such obligations including taxes, (but excluding any income taxes assessable in respect of compensation paid to the Custodian pursuant to this Agreement) withholding, certification and reporting requirements, claims for exemption
or refund, additions for late payment interest, penalties and other expenses (including legal expenses) that may be assessed against the Company, or the Custodian as custodian of the Securities or Proceeds. 

11.2.    Foreign Tax Law. It shall be the responsibility of the Company to notify the Custodian of the obligations
imposed on the Company, or the Custodian as custodian of any Foreign Securities or related Proceeds, by the tax law of foreign (i.e., non-U.S.) jurisdictions, including responsibility for withholding and other
taxes, assessments or other government charges, certifications and government reporting. The sole responsibility of the Custodian with regard to such tax law shall be to use reasonable efforts to cooperate with the Company with respect to any claims
for exemption or refund under the tax law of the jurisdictions for which the Company has provided such information. 
  

	12.	 EFFECTIVE PERIOD, TERMINATION AND AMENDMENT 

12.1.    Effective Date. This Agreement shall become effective as of its due execution (whether by manual,
facsimile, .pdf or other electronic signature) and delivery by each of the parties. This Agreement shall continue in full force and effect until terminated as hereinafter provided. This Agreement may only be amended by mutual written agreement of
the parties hereto. This Agreement may be terminated by the Document Custodian, the Custodian or the Company pursuant to Section 12.2. 

12.2.    Termination. This Agreement shall terminate upon the earliest of (a) occurrence of the effective date
of termination specified in any written notice of termination given by either party to the other not later than sixty (60) days prior to the effective date of termination specified therein or (b) such other date of termination as may be
mutually agreed upon by the parties in writing, provided, however that the Company, may at any time by action of its board of directors (i) substitute another bank or trust company for the Custodian by giving notice as described above to the
Custodian or (ii) immediately terminate this Agreement in the event of the appointment of a conservator or receiver for the Custodian or the Document Custodian or upon the happening of a like event at the direction of an appropriate regulatory
agency or court of competent jurisdiction. 

  
 23 

 12.3.    Resignation. The Custodian may at any time resign under
this Agreement by giving not less than sixty (60) days advance written notice thereof to the Company. 

12.4.    Successor. Prior to the effective date of termination of this Agreement, or the effective date of the
resignation or removal of the Custodian, as the case may be, the Company shall give Proper Instruction to the Custodian designating a successor Custodian, if applicable. 

12.5.    Payment of Fees, etc. Upon termination of this Agreement or resignation of the Custodian, the Company
shall pay to each of the Custodian and the Document Custodian such compensation, and shall likewise reimburse each of the Custodian and the Document Custodian for its costs, expenses and disbursements, as may be due as of the date of such
termination or resignation (or removal, as the case may be). All indemnifications in favor of the Custodian under this Agreement shall survive the termination of this Agreement, or any resignation or removal of the Custodian or the Document
Custodian, as applicable. 
 12.6.    Final Report. In the event of any resignation or removal of the Custodian,
the Custodian shall provide to the Company a complete final report or data file transfer of any Confidential Information as of the date of such resignation or removal. 
  

	13.	 REPRESENTATIONS AND WARRANTIES 

13.1.    Representations of the Company. The Company represents and warrants to the Custodian that: 

(a)    it has the power and authority to enter into and perform its obligations under this Agreement, and it has duly
authorized, executed and delivered this Agreement so as to constitute its valid and binding obligation; and 
 (b)    in
giving any instructions which purport to be “Proper Instructions” under this Agreement, the Company will act in accordance with the provisions of its memorandum and articles of association, bylaws and any applicable laws and
regulations. 
 (c)    the Company is not a Plan-Assets Vehicle (as defined below); (ii) the Company is not subject to
the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (iii) the aggregate interest in any class of equity interests by any benefit plan investors (as such term is interpreted under ERISA) for whose benefit or
account the Accounts for such Company is held does not equal or exceed 25% of the outstanding interests; and neither the portfolio of the Securities or the Accounts for such Company is deemed to be assets of an employee benefit plan which is subject
to ERISA. If for any reason the Company breaches or otherwise fails to comply with any of the foregoing representations, warranties, or covenants, then (i) the Custodian’s duties hereunder with respect to such Company terminates
immediately upon such breach, regardless of whether the Custodian received notice of such breach or provided notice of termination, (ii) the Company will promptly notify the Custodian of such breach, (iii) the Company acknowledges that the
Custodian does not act as investment manager of the Securities or the Accounts and (iv) the Company acknowledges that the Custodian does not provide any services as a “fiduciary” with respect to the Company within the meaning of ERISA
§3(21). For purposes herein, “Plan-assets Vehicle” means an investment contract, product, or entity that holds plan assets (as determined pursuant to ERISA §§3(42) and 401 and 29 CFR §2510.3-101). 

  
 24 

 13.2.    Representations of the Custodian. The Custodian hereby
represents and warrants to the Company that: 
 (a)    it is qualified to act as a custodian pursuant to
Section 17(f) of the 1940 Act; 
 (b)    it has the power and authority to enter into and perform its obligations
under this Agreement; and 
 (c)    it has duly authorized and executed this Agreement so as to constitute its valid and
binding obligations. 
  

	14.	 PARTIES IN INTEREST; NO THIRD PARTY BENEFIT 

This Agreement is not intended for, and shall not be construed to be intended for, the benefit of any third parties and may not be relied upon
or enforced by any third parties (other than successors and permitted assigns pursuant to Section 19). 
  

	15.	 NOTICES 

Any Proper Instructions shall be given to the following address (or such other address as either party may designate by written notice to the
other party), and otherwise any notices, approvals and other communications hereunder shall be sufficient if made in writing and given to the parties at the following address (or such other address as either of them may subsequently designate by
notice to the other), given by (i) certified or registered mail, postage prepaid, (ii) recognized courier or delivery service, or (iii) confirmed facsimile, telex, or by electronic mail: 

 

	 	(a)	 if to the Company, to 

Stone Point Credit Corporation 

[                    ] 

[                    ] 

Attention: [                    ] 

Email: [                    ] 

 

	 	(b)	 if to the Custodian (other than in its role as Document Custodian), to 

U.S. Bank National Association 

Global Corporate Trust 
 One
Federal Street, 3rd Floor 
 Boston, MA 02110 

Ref: Stone Point Credit Corporation 

Attention: Robert Wong 

Email: robert.wong@usbank.com 

Telephone: (857) 338-2199 

 

	 	(c)	 if to the Custodian solely in its role as Document Custodian, to 

U.S. Bank National Association 

1719 Otis Way 
 Florence, South
Carolina 29501 
 Mail Code: EX-SC-FLOR 

Ref: Stone Point Credit Corporation 

Attention: Document Custody Services 

E-mail: steven.garrett@usbank.com 

  
 25 

	16.	 CHOICE OF LAW AND JURISDICTION 

This Agreement shall be construed, and the provisions thereof interpreted under and in accordance with and governed by the laws of the State of
New York for all purposes (without regard to its choice of law provisions); except to the extent such laws are inconsistent with federal securities laws, including the 1940 Act, in which case such federal securities laws shall govern. All actions
and proceedings relating to or arising from, directly or indirectly, this Agreement may be brought in New York State or U.S. federal courts located within the City of New York, State of New York and the Company and the Custodian hereby submit to
personal jurisdiction of such courts for such actions or proceedings. The Company and the Custodian each hereby waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury and any objection to laying of venue
in such courts on grounds of forum nonconveniens in respect of any claim based upon, arising out of or in connection with this Agreement. No actions or proceedings relating to or arising from, directly or indirectly, this Agreement shall be brought
in a forum outside of the United States of America. 
  

	17.	 ENTIRE AGREEMENT; COUNTERPARTS 

17.1.    Complete Agreement. This Agreement constitutes the complete and exclusive agreement of the parties with
regard to the matters addressed herein and supersedes and terminates as of the date hereof, all prior agreements, acknowledgements or understandings, oral or written between the parties to this Agreement relating to such matters. 

17.2.    Counterparts. This Agreement may be executed (whether by manual, facsimile, .pdf or other electronic
signature) in any number of counterparts and all counterparts taken together shall constitute one and the same instrument. 

17.3.    Facsimile and Electronic Signatures. The exchange of copes of this Agreement and of signature pages by
facsimile, pdf or other electronic transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by
facsimile or pdf shall be deemed to be their original signatures for all purposes. By executing this Agreement, the Company hereby acknowledges and agrees, and directs the Custodian to acknowledge and agree and the Custodian does hereby acknowledge
and agree, that execution of this Agreement, any Proper Instructions and any other notice, form or other document executed by the Company or the Custodian in connection with this Agreement, by facsimile transmission or electronic signature
(including, without limitation, any .pdf file, .jpeg file or any other electronic or image file, or any other “electronic signature” as defined under E-SIGN or ESRA, including Orbit, Adobe Sign,
DocuSign, or any other similar platform identified by the Company and reasonably available at no undue burden or expense to the Custodian) shall be permitted hereunder notwithstanding anything to the contrary herein and such facsimile or electronic
signatures shall be legally binding as if such facsimile or electronic signatures were handwritten signatures. Any electronically signed document delivered via email from a person purporting to be an Authorized Person shall be considered signed or
executed by such Authorized Person on behalf of the Company. The Company also hereby acknowledges that the Custodian shall have no duty to inquire into or investigate the authenticity or authorization of any such electronic signature and shall be
entitled to conclusively rely on any such electronic signature without any liability with respect thereto. 

  
 26 

	18.	 AMENDMENT; WAIVER 

18.1.    Amendment. This Agreement may not be amended except by an express written instrument duly executed by each
of the Company and the Custodian. 
 18.2.    Waiver. In no instance shall any delay or failure to act be deemed
to be or effective as a waiver of any right, power or term hereunder, unless and except to the extent such waiver is set forth in an expressly written instrument signed by the party against whom it is to be charged. 

 

	19.	 SUCCESSOR AND ASSIGNS 

19.1.    Successors Bound. The covenants and agreements set forth herein shall be binding upon and inure to the
benefit of each of the parties and their respective successors and permitted assigns. Neither party shall be permitted to assign their rights under this Agreement without the written consent of the other party; provided, however, that the foregoing
shall not limit the ability of the Custodian to delegate certain duties or services to or perform them through agents or attorneys appointed with due care as expressly provided in this Agreement. 

19.2.    Merger and Consolidation. Any corporation or association into which the Custodian may be merged or
converted or with which it may be consolidated, or any corporation or association resulting from any merger, conversion or consolidation to which the Custodian or the Document Custodian shall be a party, or any corporation or association to which
the Custodian or Document Custodian transfers all or substantially all of its corporate trust business, shall be the successor of the Custodian or Document Custodian, as applicable hereunder, and shall succeed to all of the rights, powers and duties
of the Custodian or Document Custodian, as applicable, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto. 
  

	20.	 SEVERABILITY 

The terms of this Agreement are hereby declared to be severable, such that if any term hereof is determined to be invalid or unenforceable,
such determination shall not affect the remaining terms. 
  

	21.	 REQUEST FOR INSTRUCTIONS 

If, in performing its duties under this Agreement, the Custodian is required to decide between alternative courses of action, the Custodian may
(but shall not be obliged to) request written instructions from the Company as to the course of action desired by it. If the Custodian does not receive such instructions within two (2) days after it has requested them, the Custodian may, but
shall be under no duty to, take or refrain from taking any such courses of action. The Custodian shall act in accordance with instructions received from the Company in response to such request after such
two-day period except to the extent it has already taken, or committed itself to take, action inconsistent with such instructions. 
  

	22.	 OTHER BUSINESS 

Nothing herein shall prevent the Custodian, the Document Custodian or any of their affiliates from engaging in other business, or from entering
into any other transaction or financial or other relationship with, or receiving fees from or from rendering services of any kind to the Company or any other Person. Nothing contained in this Agreement shall constitute the Company and/or the
Custodian or the Document Custodian (and/or any other Person) as members of any partnership, joint venture, association, syndicate, unincorporated business or similar assignment as a result of or by virtue of the engagement or relationship
established by this Agreement. 

  
 27 

	23.	 REPRODUCTION OF DOCUMENTS 

This Agreement and all schedules, exhibits, attachments and amendment hereto may be reproduced by any photographic, photostatic, microfilm,
micro-card, miniature photographic or other similar process. The parties hereto each agree that any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding, whether or not the original is
in existence and whether or not such reproduction was made by a party in the regular course of business, and that any enlargement, facsimile or further production shall likewise be admissible in evidence. 

 

	24.	 MISCELLANEOUS 

The Company acknowledges receipt of the following notice: 

“IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. 

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to
obtain, verify and record information that identifies each person who opens an account. For a non-individual person such as a business entity, a charity, a trust or other legal entity the Custodian will ask
for documentation to verify its formation and existence as a legal entity. The Custodian may also ask to see financial statements, licenses, identification and authorization documents from individuals claiming authority to represent the entity or
other relevant documentation.” 
 [PAGE INTENTIONALLY ENDS HERE. SIGNATURES APPEAR ON NEXT PAGE.] 

  
 28 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed and
delivered by a duly authorized officer, intending the same to take effect as of the date first written above. 
  

			
	STONE POINT CREDIT CORPORATION
		
	By:	 	
                     
                    

	Name:	 	
	Title:	 	
	
	U.S. BANK NATIONAL ASSOCIATION, as Custodian
	By:	 	
                     
                    

	Name:	 	
	Title:	 	
	
	U.S. BANK NATIONAL ASSOCIATION, as Document Custodian
	By:	 	
                     
                    

	Name:	 	
	Title:	 	

  
 29 

 SCHEDULE A 

[On File with the Custodian] 

 EXHIBIT A 

FORM OF REQUEST FOR RELEASE 

(attached)EX-10.7

 Exhibit 10.7 
  

                      

 [Document #] 
 (for
Stone Point use only) 
 STONE POINT CREDIT CORPORATION 

SUBSCRIPTION AGREEMENT 
  

 
  

Name of Subscriber:
                                         
                                        

Requested Capital Commitment:
$                                         
                    
 (See the
instructions on page ii of this Subscription Agreement.) 
  
  

 

 

  For Stone Point Use Only: 

  Stone Point Related    ☐ 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 Directions for the Completion of the Subscription Documents
	  	 	ii	 
		
	 Subscription Agreement
	  	 	1	 
		
	 Schedule 1 to Subscription Agreement: Subscriber Information (For All Subscribers)
	  	 	25	 
		
	 Schedule 2 to Subscription Agreement: Status as Benefit Plan Investor or Other Plan Investor (For
ERISA Shareholders, including IRAs, and Other Plan Investors Only)
	  	 	35	 
		
	 Annex A to Subscription Agreement: Subscriber Questionnaire for Individual Investors (including
IRAs)
	  	 	40	 
		
	 Annex B to Subscription Agreement: Subscriber Questionnaire for Institutional Investors
	  	 	43	 
		
	 Exhibit A:    Foreign Due Diligence Questionnaire
	  	 	48	 

  
 - i - 

 Directions for the Completion of the Subscription Documents 

The attached Subscription Agreement (including the Annexes, Schedules and Exhibits attached thereto, the “Subscription
Documents”) relates to the offering by Stone Point Credit Corporation (the “Company”) to you (the “Subscriber”) of common shares, par value $0.001, of the Company (“Shares”). Shares are
being offered to qualified investors pursuant to the confidential Private Placement Memorandum of the Company. Capitalized terms not defined in these directions shall have the meanings given to them in the Subscription Agreement. 

Subscription Documents that are missing requested information or signatures will not be considered for acceptance unless and until such
information or signatures are provided. 
  

	1.	 For Individual Subscribers (including IRAs). 

 

	 	1.1.	 Fill in the name of the Subscriber and the amount of the Capital Commitment on page 1 of the Subscription
Agreement. 

  

	 	1.2.	 Initial each category that applies to the Subscriber in Section 9.10 on page 16 of the Subscription
Agreement and, if applicable, provide the requested information in the last set of blanks. 

  

	 	1.3.	 Fill in the name of the Subscriber and the date (print name of Subscriber) on page 26 of the Subscription
Agreement and sign in the blank provided. For individuals investing through an IRA, the name and signature of, and other information relating to, the Custodian/Trustee of the IRA is required on page 26. 

 

	 	1.4.	 All Subscribers must complete Schedule 1; IRA subscribers must also complete Schedule 2. 

 

	 	1.5.	 Complete Annex A by checking the appropriate box or boxes. 

 

	 	1.6.	 Complete Exhibit A. 

 

	2.	 For Institutional Subscribers. 

 

	 	2.1.	 Fill in the name of the Subscriber and the amount of the Capital Commitment on page 1 of the Subscription
Agreement. 

  

	 	2.2.	 Initial each category that applies to the Subscriber in Section 9.10 on page 16 of the Subscription
Agreement and, if applicable, provide the requested information in the last set of blanks. 

  

	 	2.3.	 Fill in the name of the Subscriber and the date (print name and title of authorized signatory) on page 26 of
the Subscription Agreement and sign in the blank provided. 

  

	 	2.4.	 All Subscribers must complete Schedule 1 and Benefit Plan Investors and Other Plan Investors (each as defined
in Schedule 2) must also complete Schedule 2. 

  

	 	2.5.	 Complete Annex B by checking the appropriate box or boxes. 

 

	 	2.6.	 Complete Exhibit A. 

  

	
	- ii -
	  
 FOR ALL SUBSCRIBERS

	3.	 Required IRS Certifications – For all Subscribers: Institutional and Individual Investors.
Fill in, sign (print name and title of authorized signatory, if applicable) and date the applicable form of the U.S. Internal Revenue tax form W-9, W-8BEN, W-8BEN-E, W-8EXP, W-8IMY or W-8ECI (please use the most
recent version of the applicable tax form). These tax forms are available on request from the Company and may also be obtained from www.irs.gov. 

  

	4.	 Delivery of Subscription Documents. Please deliver two completed and original signed
copies of the Subscription Documents and any required evidence of authorization to the Company at the following address: 

Stone Point Credit Corporation 
 20
Horseneck Lane 
 Greenwich, Connecticut 06830 

Attn: Investor Relations 
  

	5.	 If the Company accepts your subscription (in whole or in part), the Company will countersign the Subscription
Agreement and deliver a copy of it to you following the Closing at the address you provide in the Subscription Documents. 

  

	6.	 Inquiries. If you have questions concerning any of the information requested, you should ask your
attorney, accountant or other financial advisor. Inquiries regarding subscription procedures should be directed to William Bielefeld of Dechert LLP at 202-261-3386, e-mail: william.bielefeld@dechert.com. You may also contact Jacqueline Giammarco (jgiammarco@stonepoint.com; (203) 862-3124), Mary Manin (MManin@stonepoint.com; (203) 862-3126) or David Wermuth (DWermuth@stonepoint.com; (203) 862-2924) if you have questions about the Company. 

  

	
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 FOR ALL SUBSCRIBERS

                      

 [Document #] 
 (for
Stone Point use only) 
 Subscription Agreement 

 
  

Name of Subscriber 

$         

Amount of Capital Commitment 
 Stone Point Credit
Corporation 
 20 Horseneck Lane 
 Greenwich, Connecticut
06830USA 
 Ladies and Gentlemen: 
 The
undersigned subscriber (the “Subscriber”) understands that Stone Point Credit Corporation, a Delaware corporation (the “Company”), is an externally managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (a “BDC”) under the Investment Company Act of 1940, as amended (the “Investment
Company Act”), as described in the Private Placement Memorandum of the Company (as such document may be amended, amended and restated or supplemented from time to time and together with any appendices and supplements thereto, the
“Offering Document”). Subject to the terms and conditions hereof, and in reliance upon the representations and warranties contained in this subscription agreement (the “Subscription Agreement”), the Subscriber
irrevocably subscribes for and agrees to purchase shares of common stock, par value $0.001 per share, of the Company (“Shares”), on the terms and conditions described herein, in the Offering Document, in the Company’s Amended
and Restated Certificate of Incorporation (the “Certificate of Incorporation”), and in the Company’s Bylaws (the “Bylaws” and together with the Certificate of Incorporation, the “Governing
Documents”). 
 1.    Subscription for Shares. The Subscriber hereby subscribes for Shares in the Company
with a capital commitment in the amount set forth above (having been accepted by the Company as indicated on the signature page hereto) (the “Capital Commitment”), subject to Section 15.11, on the terms described or appearing
in the Offering Document and the Governing Documents. Subject to the terms of this Subscription Agreement and the Governing Documents, the Subscriber’s obligation to pay for Shares hereunder shall be unconditional, complete and binding upon the
completion of the Closing (as defined below), provided, however, that for the convenience of the Company, the Subscriber’s Capital Commitment shall be payable in installments as provided herein. The Subscriber acknowledges and agrees that it
has received full and adequate consideration on the Closing Date (defined below) for the entirety of its Capital Commitment and hereby waives any and all defenses of nonconsideration as to any capital drawdown occurring after the Closing Date,
including any defenses resulting from any insolvency or bankruptcy proceeding of the Company, any material or total decrease in value of the Shares or any inability of the Company to actually issue Shares. 

  

	
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 2.    Other Subscription Agreements. The Subscriber acknowledges
that the Company has entered into or expects to enter into separate subscription agreements (the “Other Subscription Agreements” and, together with this Subscription Agreement, the “Subscription Agreements”) with
other subscribers (“Other Subscribers”), providing for the sale to Other Subscribers of Shares in the Company and the admission of the Other Subscribers as shareholders of the Company (“Shareholders”) at the Closing
or at other closings. This Subscription Agreement and the Other Subscription Agreements are separate agreements, and the sales of Shares to the Subscriber and Other Subscribers are separate sales. 

3.    Closing. The closing of the sale to the Subscriber of Shares as provided for in Section 1, and the
admission of the Subscriber as a Shareholder (the “Closing”), shall take place at the offices of the Company, 20 Horseneck Lane, Greenwich, Connecticut 06830, or at such other location as may be notified by the Company to the
Subscriber in writing, on the date that this Subscription Agreement (having been properly and fully completed and signed by the Subscriber) has been accepted by the Company (the date of such acceptance, which shall be indicated on the signature page
hereto, being hereinafter referred to as the “Closing Date”). On the date of the receipt of the Subscriber’s first Drawdown Purchase (as defined below), assuming the Closing has taken place, the Subscriber shall be registered
as a Shareholder. 
 4.     Capital Drawdowns. 

4.1    Drawdown Purchases. On each Drawdown Date (as defined below), the Subscriber shall purchase from the
Company, and the Company shall issue to the Subscriber, a number of Shares equal to the Drawdown Share Amount at an aggregate price equal to the Drawdown Purchase Price; provided, however, that in no circumstance will a Subscriber be required
to purchase Shares for an amount in excess of its Unfunded Capital Commitment. 
 “Drawdown Purchase Price” shall mean, for
each Drawdown Date, an amount in U.S. dollars determined by multiplying (i) the aggregate amount of Capital Commitments being drawn down by the Company from all Subscribers on that Drawdown Date, by (ii) a fraction, the numerator of which
is the Unfunded Capital Commitment of the Subscriber and the denominator of which is the aggregate Unfunded Capital Commitments of all Subscribers that are not Defaulting Shareholders (as defined in Section 5) or Excused Subscribers (as defined
in Section 4.3(f)). 
 “Drawdown Share Amount” shall mean, for each Drawdown Date, a number of Shares determined by
dividing (i) the Drawdown Purchase Price for that Drawdown Date by (ii) the applicable Price Per Share. 
 “Price Per
Share” shall mean, for any Drawdown Date or Catch-Up Date (as defined below), the Price Per Share determined by the Company’s Board of Directors (the “Board”) or an appropriately
designated committee of the Board on the Drawdown Date, which price will be determined prior to the issuance of such Shares and in accordance with the limitations under Section 23 of the Investment Company Act. The Board may set the per-share price above the net asset value per Share based on a variety of factors, including the total amount of the Company’s organizational and other expenses. Nothing in this Subscription Agreement shall
prohibit the Company from issuing Shares at a per share price greater than the net asset value per Share. 
 “Unfunded Capital
Commitment” shall mean, with respect to a Subscriber, the amount of such Subscriber’s Capital Commitment as of any date reduced by the aggregate amount of purchases made by that Subscriber at all previous Drawdown Dates and all Catch-Up Dates pursuant to Section 4.1 and Section 4.2, respectively. 

  

	
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 4.2    Catch-Up
Purchases. 
 Notwithstanding the provisions of Sections 4.1 and 4.3, in the event that the Company has entered into Other
Subscription Agreements with Other Subscribers prior to the Closing Date, Subscriber shall be required to purchase from the Company on one or more dates to be determined by the Company that occurs on or following the Closing but no later than the
first Drawdown Date (each, a “Catch-Up Date”) a number of Shares with an aggregate purchase price necessary to ensure that, upon payment for such
Catch-up purchases at each Catch-Up Date, Subscriber will have contributed the same percentage of its Capital Commitment to the Company as all Shareholders whose
subscriptions were accepted prior to the Closing Date (the aggregate purchase price payable on each Catch-Up Date by Subscriber or an Additional Shareholder (as defined below), as applicable, the “Catch-Up Purchase Amount”). 
 In addition, The Company may enter into Other Subscription
Agreements with Other Subscribers after the Closing Date, with any closing thereunder referred to as a “Subsequent Closing” and any Other Subscriber whose subscription has been accepted at such Subsequent Closing referred to as an
“Additional Shareholder.” Notwithstanding the provisions of Sections 4.1 and 4.3, on any Catch-Up Date that occurs on or following the Subsequent Closing but no later than the next succeeding
Drawdown, each Additional Shareholder shall be required to purchase from the Company a number of Shares with an aggregate purchase price necessary to ensure that, upon payment of the amounts due at each such
Catch-Up Date for such Additional Shareholder, such Additional Shareholder will have contributed the same percentage of its Capital Commitment to the Company as all Shareholders whose subscriptions were
accepted at prior to such Additional Shareholder’s Subsequent Closing . 
 Catch-up purchases
by the Subscriber or by an Additional Shareholder will be made at a per-share price equal to the net asset value per share of the Shares as of the close of the last calendar quarter preceding the date of the catch-up purchase, subject to adjustments (i) to appropriately reflect such Additional Shareholder’s pro rata portion of the Company’s initial organizational expenses and (ii) as needed in order
to comply with the requirements of Section 23 of the Investment Company Act. For the avoidance of doubt, in the event that a Catch-Up Date and a Drawdown Date occur on the same calendar day, the Catch-Up Date (and the application of the provisions of this Section 4.2) shall be deemed to have occurred immediately prior to the relevant Drawdown Date. 

At each Drawdown Date following any Subsequent Closing, all Subscribers, including Additional Shareholders, shall purchase Shares in
accordance with the provisions of Section 4.1. 
 In the event that Subscriber or any Other Subscriber is permitted by the Company to
make an additional Capital Commitment to purchase Shares on a date after its initial subscription has been accepted, Subscriber or such Other Subscriber will be required to enter into a separate subscription agreement with the Company, it being
understood and agreed that such separate subscription agreement will be considered to be an Other Subscription Agreement for the purposes of this Subscription Agreement. 

4.3    Drawdown Notices. (a) Subject to Section 4.3(e), purchases of Shares will take place on
dates selected by the Company in its sole discretion (each, a “Drawdown Date”) and shall be made in accordance with the provisions of Section 4.1. 

  

	
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 (b) The Company shall deliver to the Subscriber, at least ten (10) Business Days prior
to each Drawdown Date or Catch-Up Date, a notice (each, a “Drawdown Notice”) setting forth (i) the amount of the Drawdown (the “Drawdown Amount”); (ii) the portion of the
Drawdown Amount to be paid by such Shareholder; (iii) the estimated number of Shares to be purchased by such Shareholder; and (iv) the Drawdown Date on which such Drawdown Amount is due. 

For the purposes of this Subscription Agreement, the term “Business Day” shall have the meaning ascribed to it in Rule 14d-1(g)(3) under the Securities Act of 1934, as amended (the “Exchange Act”). 
 (c) The
delivery of a Drawdown Notice to the Subscriber shall be the sole and exclusive condition to the Subscriber’s obligation to pay the Drawdown Purchase Price or Catch-Up Purchase Amount, as applicable,
identified in each Drawdown Notice. 
 (d) On each Drawdown Date or Catch-Up Date, as applicable,
the Subscriber shall pay the Drawdown Purchase Price or Catch-Up Purchase Amount to the Company by bank wire transfer in immediately available funds in U.S. dollars to the account specified in the Drawdown
Notice. 
 (e) On the Drawdown Date, if, in connection with a per share price adjustment, the number of Shares to be purchased by a
Shareholder differs from the amount set forth in the Drawdown Notice, the Company will deliver to the Shareholder an additional notice setting forth the actual number of Shares purchased by such Shareholder. 

(f) Except as provided below, at the earlier of (i) an Exchange Listing (as defined in Section 6) and (ii) the end of the
Commitment Period (as defined below), Shareholders will be released from any further obligation under their respective Subscription Agreements to fund Drawdowns and purchase additional Shares, provided, however that for two years following the end
of the Commitment Period and prior to an Exchange Listing, Shareholders will remain obligated to fund Drawdowns to the extent necessary to (a) pay Company expenses, including management fees, amounts that may become due under any borrowings or
other financings or similar obligations, or indemnity obligations, (b) complete investments in any transactions for which there are binding written agreements as of the end of the Commitment Period (including investments that are funded in
phases), (c) fund follow-on investments made in existing portfolio companies within three years from the end of the Commitment Period that, in the aggregate, do not exceed 5% of total capital commitments to
the Company, (d) fund obligations under any Company guarantee, and/or (e) as necessary for the Company to preserve its status as a RIC. The “Commitment Period” will continue until the five year anniversary of the date (the
“Commencement Date”) on which the Company first issues Shares to investors not affiliated with the Company or Stone Point Credit Adviser (the “Adviser”); provided, however, that the Commitment Period for any
Shareholder that makes its initial Capital Commitment after the two year anniversary of the Commencement Date will extend until the three year anniversary of such Shareholder’s initial Capital Commitment. 

(g) Notwithstanding anything to the contrary contained in this Subscription Agreement, the Company shall have the right (a “Limited
Exclusion Right”) to exclude Subscriber or any Other Subscriber (such Subscriber or Other Subscriber, an “Excused Subscriber”) from purchasing Shares from the Company on any Drawdown Date if, in the reasonable discretion of
the Company, there is a substantial likelihood that such Excused Subscriber’s purchase of Shares at such time would (i) result in a violation of, or noncompliance with, any law or regulation to which such Excused Subscriber, the Company,
the Adviser, any Other Subscriber or a portfolio company would be subject or (ii) cause the investments of “Benefit Plan Investors” (within the meaning of Section 3(42) of the U.S. Employee Retirement Income Security Act of 1974,
as amended (“ERISA”) and certain Department of Labor regulations) to be significant and the assets of the Company to be considered “plan assets” under ERISA or Section 4975 of the U.S. Internal Revenue Code of 1986,
as amended (the “Code”). 

  

	
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 5.    Remedies Upon Subscriber Default. In the event that a Subscriber
fails to pay all or any portion of the purchase price due from such Subscriber on any Drawdown Date and such default remains uncured for a period of ten (10) Business Days, the Company shall be permitted to declare such Subscriber to be in
default of its obligations under this Subscription Agreement (any such Subscriber, a “Defaulting Shareholder”) and shall be permitted to pursue one or any combination of the following remedies: 

(a) The Company may prohibit the Defaulting Shareholder from purchasing additional Shares on any future Drawdown Date; 

(b) The Company may cause such Defaulting Shareholder to transfer its Shares to a third party for a readily available price, which may be less
than the net asset value of such Shares. 
 (c) The Company may pursue any other remedies against the Defaulting Shareholder available to
the Company, subject to applicable law. 
 (d) Issue an additional capital drawdown to
non-Defaulting Shareholders, subject to the Limited Exclusion Right, to make up such shortfall, provided that in no event shall Subscriber be required to fund capital drawdowns in excess of its Unfunded
Capital Commitment. 
 5.1.    Forfeiture of Shares. Subject to the Limited Exclusion Right, 50% of
the Shares then held by the Defaulting Shareholder may be automatically forfeited and transferred on the books of the Company to the Other Subscribers (other than any other Defaulting Stockholders), pro rata in accordance with their respective
number of Shares held; provided that no Shares shall be transferred to any Other Subscriber pursuant to this Section 5.1 in the event that such transfer would (i) violate the Securities Act, the Investment Company Act or any state
(or other jurisdiction) securities or “Blue Sky” laws applicable to the Company or such transfer, (ii) constitute a non-exempt “prohibited transaction” under Section 406 of ERISA
or Section 4975 of the Code, or (iii) cause all or any portion of the assets of the Company to constitute “plan assets” under ERISA or Section 4975 of the Code (it being understood that this proviso shall operate only to the
extent necessary to avoid the occurrence of the consequences contemplated herein and shall not prevent any Other Subscriber from receiving a partial allocation of its pro rata portion of Shares); and provided, further, that any Shares that have not
been transferred to one or more Other Subscribers pursuant to the previous proviso shall be allocated among the participating Other Subscribers pro rata in accordance with their respective number of Shares held. The mechanism described in this
Section 5.1 is intended to operate as a liquidated damage provision since the damage to the Company and the Other Subscribers resulting from a default by the Defaulting Shareholder is both significant and not easily susceptible to precise
quantification. By entry into this Subscription Agreement, the Subscriber agrees to this Section 5.1 and acknowledges that the automatic transfer of 50% of its Shares constitutes a reasonable liquidated damages remedy for any default of the
Subscriber’s obligations to fund a Drawdown Purchase Price. 
 6.    Dividends; Dividend Reinvestment Plan. As
described more fully in the Offering Document, the Company generally intends to make quarterly distributions in such amounts as determined by the Board in its discretion. The Company adopted an “opt out” dividend reinvestment plan (the
“DRIP”), under which a Shareholder participating in the DRIP will have cash distributions declared by the Company and payable to such Shareholder automatically be reinvested under the DRIP in additional whole and fractional
Shares. Shareholders will participate in the DRIP unless the Shareholder “opts out” of the DRIP, thereby electing to receive cash dividends. Shareholders who receive distributions in the form of additional Shares generally will be subject
to the same U.S. federal, state and local tax consequences as Shareholders who elect not to participate in the DRIP and receive cash distributions. The Subscriber and the Company agree and acknowledge that any distributions received by the
Subscriber or reinvested by the Company on the Subscriber’s behalf shall have no effect on the amount of the Subscriber’s Unfunded Capital Commitment. 

  

	
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 7.    Credit Facility. In connection with any financings, borrowings,
indebtedness, or guarantees (any financing, borrowing, indebtedness or guaranty, a “Credit Facility”) of the Company and any of its subsidiaries that are party to a Credit Facility, the Company shall be authorized to directly or
indirectly collateralize such financings, borrowings, indebtedness or guaranty, and pledge, mortgage, assign, transfer and/or grant security interests directly or indirectly to the lender of such indebtedness or guaranty in (i) investments in
portfolio companies and the proceeds thereof and any other assets, (ii) the Company’s right to initiate capital calls and collect on the Unfunded Capital Commitment of Subscriber hereunder or the unfunded capital commitments of Other
Subscribers; (iii) the Company’s rights to enforce the funding of a Capital Commitment hereunder and under the Other Subscription Agreements; and (iv) a Company collateral account into which the payment by any Subscriber of its
Unfunded Capital Commitment is to be made . Any such collateral pledge may be made directly by the Company to the lender of the Credit Facility or indirectly to such lender by first pledging such collateral to a subsidiary or agent of the Company,
which subsidiary or agent then on pledges such rights ultimately to the lender under the Credit Facility. To the extent that the Company or any of its subsidiaries has outstanding obligations under a Credit Facility that relies upon any of the
collateral referred to in clauses (ii) through (iv) above, and with the knowledge that the Credit Facility lender is relying on each of the following agreements and undertakings of the Subscriber and the Other Subscribers in connection with the
extension of credit to the Company, Subscriber shall be obligated to fund any remaining portion of its Unfunded Capital Commitment when due pursuant to this Subscription Agreement (whether called by the Company or directly by the lender under the
Credit Facility) without defense, counterclaim or offset of any kind, including any defense arising under Section 365(c) of the U.S. Bankruptcy Code, if applicable, provided that such agreement to fund shall not act as a waiver by such
Subscriber of its right to assert independently any claim that the Subscriber may have against any Other Subscriber or the Company. In the event that, as a result of any such pledge, mortgage, assignment, transfer or grant of a security interest, a
Subscriber makes a payment directly to the Company account as requested by a lender under a Credit Facility, such payment shall be deemed to be the payment of a Drawdown Purchase Price by Subscriber to the Company in all respects. 

Subscriber hereby (i) acknowledges that the Company has informed Subscriber that the Company may enter into a Credit Facility at any
time, including before and after the investment period, and that such Credit Facility may include a pledge of collateral referred to in clauses (ii) through (iv) above and, directly or indirectly, grant the related lender the right to initiate
Drawdown Notices in the name of the Company when an event of default under such Credit Facility exists, which each Subscriber shall fund, to the Company, consistent with the terms hereof and its obligations hereunder; (ii) acknowledges that for
so long as the Credit Facility is in place, except with the prior consent of the lender, the Company has agreed not to amend, modify, cancel, terminate, reduce, suspend or waive any of such Subscriber’s obligations under this Subscription
Agreement in a manner that could be materially adverse to the rights of the lender contemplated by this paragraph; and (iii) agrees, if requested by the Company, to provide to the Company: (A) to the extent publicly available, as soon as
reasonably available after the end of Subscriber’s fiscal year, a copy of such Subscriber’s annual report, if available, or such Subscriber’s balance sheet as of the end of such fiscal year and the related statements of operations for
such fiscal year prepared or reviewed by independent public accountants in connection with such Subscriber’s annual reporting requirements; (B) from time to time, a certificate confirming the remaining amount of such Subscriber’s
Unfunded Capital Commitment; and (C) such other consents and documents as may be reasonably requested by the Company to acknowledge the same. 

  

	
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 8.    Representations and Warranties of the Company. The Company
represents and warrants to the Subscriber (as of the Closing Date) that: 
 8.1.    Formation and
Standing. The Company is existing and in good standing as a corporation under the laws of the State of Delaware, has all requisite power and authority to carry on its business as now conducted and as proposed to be conducted as
described in this Subscription Agreement, the Offering Document and the Governing Documents and is duly qualified to transact business and is in good standing in every jurisdiction in which the character of its business makes such qualification
necessary, except where the failure to so qualify would not have a material adverse effect on its business operations. 

8.2.    Authorization of Agreement, etc. The execution, delivery and performance by the Company of this
Subscription Agreement have been authorized by all necessary action, and this Subscription Agreement, when duly executed and delivered by the Subscriber and the Company, will constitute a legal, valid and binding agreement of the Company,
enforceable against the Company in accordance with its terms, subject to any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws now or hereafter in effect relating to creditors’ rights generally or to general
principles of equity. The execution, delivery and performance by the Company of the Governing Documents have been authorized by all necessary action, and the Governing Documents will constitute legal, valid and binding documents of the Company,
enforceable against the Company in accordance with their terms, subject to any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws now or hereafter in effect relating to creditors’ rights generally or to general
principles of equity. 
 8.3.    Compliance with Laws and Other Instruments. Each of (a) the
execution and delivery of this Subscription Agreement by the Company, the performance by the Company of its obligations under this Subscription Agreement and the consummation by the Company of the transactions contemplated hereby and (b) the
execution and delivery of the Governing Documents by the Company, the performance by the Company of its obligations under the Governing Documents and the consummation by the Company of the transactions contemplated thereby: (i) does not
conflict with or result in any breach or violation of or default under the organizational documents governing the Company, as applicable, (ii) does not conflict with or result in any breach or violation of or default under any material
agreement or other instrument to which the Company is a party or by which the Company, or any of its properties or rights are bound, or any material license, permit, franchise, judgment, decree, award, statute, rule or regulation applicable to the
Company or its business, properties or rights, other than such conflicts, breaches, violations or defaults that would not have a material adverse effect on the Company or otherwise are not material to the performance of the obligations of the
Company under this Subscription Agreement or the Governing Documents, (iii) does not violate any applicable material statute or regulation, other than such violations that would not have a material adverse effect on the Company or otherwise are
not material to the performance of the obligations of the Company under this Subscription Agreement or the Governing Documents or (iv) does not require the filing or registration with, or the approval, authorization, license or consent of, any
court or governmental department, agency or authority, or any third party which has not already been duly and validly made or obtained, except where the failure to make such filing or registration or obtain such approval, authorization, license or
consent would not have a material adverse effect on the Company. 
 8.4.    No Legal Action Pending, etc.
There is no legal action, suit, arbitration or other legal, administrative or other governmental investigation, inquiry or proceeding (whether federal, state, local or foreign) pending or, to the knowledge of the Company, threatened against
(a) the Company, (b) the Adviser or (c) Stone Point Capital LLC, that in the case of each of (a), (b) and (c), if adversely determined, is reasonably likely to have a material adverse effect on the Company or the Adviser. 

  

	
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 8.5.    Issuance of Shares. The Shares of the
Company have been duly authorized for issuance and, when issued and delivered against payment therefore in accordance with the terms, conditions, requirements and procedures described in the Governing Documents and the Subscription Agreement, will
be validly issued and fully paid and non-assessable. 
 8.6.    Certain
Conflicts of Interest. The Company confirms that all service and other contractual arrangements (excluding arrangements specifically contemplated in the Governing Documents or the Subscription Agreements) that involve the payment of
any fee or expense by the Company between (i) the Company and (ii) the Adviser or its affiliates, shall be reviewed by the Board in accordance with the Investment Company Act and the rules and regulations promulgated thereunder. 

9.    Representations, Warranties and Covenants of the Subscriber. The Subscriber represents, warrants and covenants
to the Company and the Adviser, as of the date that this Subscription Agreement is signed by the Subscriber, as of the Closing Date, as of each date on which it makes a capital contribution to the Company and on the subsequent dates specified below
(to the extent specified below) that: 
 9.1.    Authorization of Purchase and Compliance with Laws and Other
Instruments. The persons signing this Subscription Agreement (taking into account the power of attorney granted to the Company pursuant to Section 10 of this Subscription Agreement) on the Subscriber’s behalf are duly
authorized to sign and enter into this Subscription Agreement on the Subscriber’s behalf. 
 9.1.1.    If the
Subscriber is an Entity: (a) it is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization; (b) the execution, delivery and performance by it of this Subscription Agreement are
within its powers, have been duly authorized by all necessary action on its behalf, require no action by or in respect of, or filing with, any governmental body, agency or official, or any third party (except as disclosed in writing to the Company
as of the date that this Subscription Agreement is signed by the Subscriber) and do not and will not contravene, or constitute a default under, (i) any provision of its certificate of incorporation, limited liability company operating
agreement, limited partnership agreement or other comparable organizational documents or (ii) any provision of applicable law, rule or regulation or of any agreement, judgment, injunction, order, decree or other instrument binding upon such
Subscriber or any material agreement or other instrument to which the Subscriber is a party or by which the Subscriber or any of its respective properties is bound, or any material license, permit or franchise applicable to the Subscriber or its
business, properties or rights other than such contraventions or defaults that do not impair or otherwise affect the Subscriber’s ability to perform its obligations under this Subscription Agreement or are not material to the Subscriber’s
financial condition; and (c) this Subscription Agreement constitutes the legal, valid and binding obligation of the Subscriber enforceable against the Subscriber in accordance with its terms, subject to any applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws now or hereafter in effect relating to creditors’ rights generally or to general principles of equity. Neither the execution, delivery or performance of this Subscription Agreement by the Subscriber,
nor the consummation of the transactions contemplated hereby, will result in the creation or imposition of any lien or encumbrance upon any of the assets or properties of such Subscriber. 

  

	
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 9.1.2.    If the Subscriber is an Individual, (a) the
execution, delivery and performance by the Subscriber of this Subscription Agreement are within such person’s legal right and power, require no action by or in respect of, or filing with, any governmental body, agency or official, or any third
party (except as disclosed in writing to the Company as of the date that this Subscription Agreement is signed by the Subscriber), and do not and will not contravene, or constitute a default under, any provision of applicable law, rule or regulation
or of any agreement, judgment, injunction, order, decree or other instrument binding upon such Subscriber or any material agreement or other instrument to which the Subscriber is a party or by which the Subscriber or any of his respective properties
is bound, other than contraventions or defaults that do not impair or otherwise affect the Subscriber’s ability to perform its obligations under this Subscription Agreement or are not material to the Subscriber’s financial condition; and
(b) this Subscription Agreement constitutes the legal, valid and binding obligation of the Subscriber enforceable against the Subscriber in accordance with its terms, subject to any applicable bankruptcy, insolvency, reorganization, moratorium
or similar laws now or hereafter in effect relating to creditors’ rights generally or to general principles of equity. Neither the execution, delivery or performance of this Subscription Agreement by the Subscriber, nor the consummation of the
transactions contemplated hereby, will result in the creation or imposition of any lien or encumbrance upon any of the assets or properties of such Subscriber. If the individual subscribing in the Company is investing assets on behalf of an IRA, the
individual who established the IRA has signed the signature page of this Subscription Agreement and confirms that such individual (i) has directed the custodian or trustee of the IRA to execute the acknowledgement on the signature page and
(ii) has signed below to indicate that he or she has reviewed, directed and certifies to the accuracy of the representations and warranties made herein with respect to the IRA and the individual Subscriber. 

9.1.3.    If the Subscriber is a Shareholder that is a Benefit Plan Investor or an Other Plan Investor or an IRA
(each as defined on Schedule 2), it has completed Schedule 2, which, without limiting any other assurances in this Subscription Agreement, it hereby specifically represents and agrees is correct and complete. 

9.2.    No Legal Action Pending, etc. There is no legal action, suit, arbitration or other legal,
administrative or other governmental investigation, inquiry or proceeding (whether federal, state, local, or foreign) pending or, to the knowledge of the Subscriber, threatened against the Subscriber that, if adversely determined, is reasonably
likely to impair or otherwise affect the Subscriber’s ability to perform its obligations under this Subscription Agreement or is reasonably likely to have a material adverse effect on the Subscriber’s financial condition. 

9.3.    Acknowledgment of Risks; Access to Information. The Subscriber hereby acknowledges it has been
provided and has carefully reviewed the Offering Document and the Governing Documents. The Subscriber understands the risks of, and other considerations relating to, the purchase of Shares, including, without limitation, the information appearing in
the Offering Document under the headings “Risk Factors”, “Conflicts of Interests” and “Certain U.S. Federal Income Tax Considerations” and the effect of the provisions of Section 5 of this
Subscription Agreement (relating to Shareholders that default on their obligations to make Capital Commitments). The Subscriber also has been afforded the opportunity to obtain any additional information necessary to verify the accuracy of the
information in the Offering Document and the Governing Documents. The Company has answered all of the Subscriber’s inquiries, if any. In deciding to acquire Shares, the Subscriber has not relied upon any information from the Company or the
Adviser or any of their respective partners, members, officers, counsel, representatives or agents, including, without limitation, any placement agents of the Company (the “Placement Agents”), or any other person, other than
information contained in the Offering Document or Governing Documents. The Subscriber was not solicited to invest in the Company by any form of general solicitation, holds a pre-existing substantive business
relationship with representatives of the Company, and has previously provided information regarding the Subscriber’s financial situation and sophistication as an investor. 

  

	
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 9.4.    Evaluation and Ability to Bear Risks. The
Subscriber’s decision to invest in the Company was made by the Subscriber as person(s) who (a) are independent of the Company, the Adviser and the Placement Agents and their respective affiliates, (b) are authorized to make such
investment decisions, and (c) have relied on their own tax, legal and financial advisers with regard to all matters relating to the Subscriber’s investment in the Company (including federal, state and local tax matters) and not on any
advice or recommendation of the Company, the Adviser or the Placement Agent or any of their respective affiliates, notwithstanding anything in Section 9.3 to the contrary. The Subscriber’s prior investment experience and its general
knowledge about the management, proposed operations and prospects of the Company enable the Subscriber, together with the Subscriber’s advisers, to make an informed decision with respect to the merits and risks of an investment in the Company.
The Subscriber is able to bear the economic risk of its acquisition of Shares, including a complete loss of its investment in the Company. The Subscriber acknowledges and agrees that (i) it is not a client of the Adviser with respect to its
investment in the Company, (ii) the Adviser provides services solely to the Company, in the case of (ii) including any reporting or consultation with investors thereof (except as may be described in the Offering Document). 

9.5.    Purchase of an Investment. The Subscriber represents and warrants that it is acquiring Shares for
investment purposes only and not with a view to the resale or distribution of all or any part of such Shares and the Subscriber has no present intention, agreement or arrangement to divide its participation with others or to sell, assign, transfer
or otherwise dispose of all or any part of such Shares. The Subscriber understands that it must bear the economic risk of its investment in Shares for an indefinite period of time, because, among other reasons, the offering and sale of Shares has
not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and that they may not be resold or otherwise disposed of unless they are registered thereunder or an exemption
from registration is available. The Subscriber also understands that transfers of Shares are further restricted by the provisions of this Subscription Agreement and the Governing Documents, and may be restricted by applicable state and non-U.S. securities laws, that no market exists or is expected to develop for the Shares. 

9.6.    Share Transfer Restrictions. 

(a) Prior to an Exchange Listing, the Subscriber may not sell, offer for sale, exchange, transfer, assign, pledge, hypothecate or otherwise
dispose of (each, a “Transfer”) any of its Shares or its Capital Commitment unless (i) the Company provides prior written consent; provided, that the Company shall not unreasonably withhold, condition or delay its consent to
any Transfer by the Subscriber to an affiliate of the Subscriber; (ii) the Transfer is made in accordance with applicable securities laws and (iii) the Transfer is otherwise in compliance with the transfer restrictions set forth in clauses
(A) through (D) below. No Transfer will be effectuated except by registration of the Transfer on the Company books. Each transferee must agree to be bound by these restrictions and all other obligations as an investor in the Company. Following
an Exchange Listing, the Subscriber may be restricted from selling or disposing of its Shares by applicable securities laws or contractually by a lock-up agreement with the underwriters of the Exchange
Listing. Transfer restrictions include: 
 (A) In any event, the consent of the Company to a proposed Transfer may be withheld (1) if
the creditworthiness of the proposed transferee, as determined by the Company in its sole discretion, is not sufficient to satisfy all obligations under the Subscription Agreement or (2) unless, in the opinion of counsel (who may be counsel for
the Company or the Subscriber) satisfactory in form and substance to the Company: 
  

	 	(I)	 such Transfer would not violate the Securities Act or any state (or other jurisdiction) securities or
“Blue Sky” laws applicable to the Company or the Shares to be Transferred; 

  

	
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	 	(II)	 such Transfer would not cause all or any portion of the assets of the Company to constitute “plan
assets” under ERISA, certain Department of Labor regulations or Section 4975 of the Code; 

  

	 	(III)	 such Transfer will not violate any law, regulation or other governmental rule applicable to such Transfer; and

  

	 	(IV)	 such Transfer will not (A) subject the Company, the Adviser or any of their affiliates or any officer,
director or employee of the Company or the Adviser or any of their affiliates to additional regulatory requirements the compliance with which would subject the Company or such other Person to material expense or burden (unless such affected person
consents to such Transfer). 

 (B) The Subscriber agrees that it will pay all reasonable expenses, including
attorneys’ fees, incurred by the Company in connection with any Transfer of all or any fraction of its Shares, prior to the consummation of such Transfer. 

(C) Any person that acquires all or any fraction of the Shares of the Subscriber in a Transfer permitted under this Subscription Agreement
shall be obligated to pay to the Company the appropriate portion of any amounts thereafter becoming due in respect of the Capital Commitment committed to be made by its predecessor in interest. The Subscriber agrees that, notwithstanding the
Transfer of all or any fraction of its Shares, as between it and the Company it will remain liable for its Capital Commitment and for all payments of any Drawdown Purchase Price required to be made by it (without taking into account the Transfer of
all or a fraction of such Shares) prior to the time, if any, when the purchaser, assignee or transferee of such Shares, or fraction thereof, becomes a holder of such Shares. 

(D) The Company shall not recognize for any purpose any purported Transfer of all or any fraction of the Shares and shall be entitled to treat
the transferor of Shares as the absolute owner thereof in all respects, and shall incur no liability for distributions or dividends made in good faith to it, unless the Company shall have given its prior written consent thereto and there shall have
been filed with the Company a dated notice of such Transfer, in form satisfactory to the Company, executed and acknowledged by both the seller, assignor or transferor and the purchaser, assignee or transferee, and such notice (1) contains the
acceptance by the purchaser, assignee or transferee of all of the terms and provisions of this Subscription Agreement and its agreement to be bound thereby, and (2) represents that such Transfer was made in accordance with this Subscription
Agreement, the provisions of the Offering Document and all applicable laws and regulations applicable to the transferee and the transferor. 

9.7.    State Governing Subscription. (For U.S. domestic Subscribers only. Does not apply to foreign
Subscribers.) The Subscriber was offered Shares in the state listed as the Subscriber’s address on Schedule 1. 

9.8.    Obligation to Make Payments and Compliance with Laws and Regulations. The Subscriber confirms that
(a) the Subscriber is obligated to pay the Company any amounts that the Company is required to withhold or pay with respect to or on behalf of the Subscriber and that exceed amounts then available for distribution to the Subscriber, whether or
not the Subscriber has withdrawn from the Company or the Company has terminated or dissolved, (b) to the extent that the Subscriber owes any amounts to the Company hereunder, the Subscriber understands and agrees that the Company may withhold
such amounts from any distributions that otherwise would be made to the Subscriber under the Governing Documents and this Subscription Agreement in satisfaction thereof (it being understood that such amounts shall be deemed distributed), without
waiver of any other rights the Company may have hereunder or thereunder, and (c) the Subscriber is responsible for compliance with all tax, exchange control, reporting and other laws and regulations applicable to its investment in the Company.

  

	
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 9.9.    Prohibited Categories. The Subscriber: (i) is
not registered as an investment company under the Investment Company Act; (ii) has not elected to be regulated as a business development company under the Investment Company Act; and (iii) either (A) is not relying on the exception from
the definition of “investment company” under the Investment Company Act set forth in Section 3(c)(1) or 3(c)(7) thereunder or (B) is otherwise permitted to acquire and hold more than 3% of the outstanding voting securities of a
business development company. 
 9.10.    Applicable Categories. The
Subscriber hereby certifies to the Company that the categories initialed below apply to the Subscriber. (The Subscriber must initial each applicable
category.) 

                     The Subscriber is a
Shareholder that is a Benefit Plan Investor (as defined in Schedule 2). 

                     The Subscriber is an
Other Plan Investor (as defined in Schedule 2 – e.g., a “governmental” plan). 

                     The Subscriber is a Tax-Exempt Partner (i.e., exempt from income taxation under §501 of the Internal Revenue Code). 

                     The Subscriber is a
BHC Subscriber1 (i.e., a bank holding company registered under the BHC Act or a non-bank subsidiary thereof). 

                    The Subscriber is a
Foundation Partner (as defined in §509 of the Internal Revenue Code). 

                     The Subscriber is a
“United States person” for U.S. federal income tax purposes. 

                     The Subscriber
is a “charitable remainder trust” within the meaning of Section 664 of the Code. 

                     The Subscriber is or
may become a person (including an entity) that has discretionary authority or control with respect to the assets of the Company or a person who provides investment advice with respect to the assets of the Company or an “affiliate” of such
a person. (For purposes of the foregoing, an “affiliate” is any person controlling, controlled by or under common control with any such person, including by reason of having the power to exercise a controlling influence over the management
or policies of such person.) 
  
  

	1 	 A BHC Subscriber is defined as a subscriber that is a bank holding company, as defined in Section 2(a) of
the Bank Holding Company Act of 1956, as amended (the “BHC Act”), a non-bank subsidiary (for purposes of the BHC Act) of a bank holding company, a foreign banking organization, as defined in
Regulation K of the Board of Governors of the Federal Reserve System (12 C.F.R. § 211.23) or any successor regulation, or a non-bank subsidiary (for purposes of the BHC Act) of a foreign banking
organization which subsidiary is engaged, directly or indirectly in business in the United States and which in any case holds Shares for its own account. 

  

	
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                     The Subscriber is
“Stone Point Related” (i.e., an affiliate of the Company or the Adviser, or a director, officer, employee or agent of the Company or the Adviser or any of their respective affiliates). 

                     The Subscriber is
subject to the Freedom of Information Act, 5 U.S.C § 552 (“FOIA”), any state public records access laws, any state or other jurisdiction’s laws similar in intent or effect to FOIA, or any similar statutory or legal right
that might result in the disclosure of confidential information relating to the Company (together with FOIA, “Public Disclosure Laws”). Please indicate the relevant Public Disclosure Laws to which the Subscriber is subject.

  

							
	  

	
	  

	
	  

 9.11.    Sale of Shares. The Subscriber understands and agrees that the
Company may cause the Subscriber to sell all or a portion of its Shares in accordance with the provisions of the Governing Documents and this Subscription Agreement, including Section 4.3 hereof. 

9.12.    Swaps. The Subscriber represents and warrants that Subscriber will not enter into a swap,
structured note or other derivative instrument, the return from which is based in whole or in part, directly or indirectly, on the return with respect to the Company or its Shares (a “Swap”) with a counterparty or counterparties
(each, a “Counterparty”), such that the Counterparty would be deemed to be: (i) a beneficial owner of Shares in the Company for purposes of the Investment Company Act; (ii) the beneficial owner of Shares in the Company for
purposes of the Commodity Exchange Act, as amended, or the rules of the CFTC; (iii) an offeree or purchaser of Shares for purposes of the Securities Act; (iv) a client of the Adviser for purposes of the Investment Advisers Act of 1940, as
amended (the “Advisers Act”); (iv) a purchaser of Shares for purposes of the Exchange Act (including, without limitation the anti-fraud rules thereunder); or (v) a holder of Shares who is an investor in a Plan. 

9.13.    Correctness of Information. The Subscriber represents and warrants that the information it has
provided in this Subscription Agreement, its Annexes, Schedules and Exhibits (collectively “Attachments”) (which Attachments are incorporated in this Subscription Agreement by reference as if expressly set forth herein), and, to its
knowledge, in any U.S. Internal Revenue Service or other tax form delivered to the Company or the Adviser, is true, accurate and complete and may be relied upon by the Company for any purpose, including the establishment of subscriber-related facts
underlying claims of exemption from the registration provisions of federal and state securities laws. The Subscriber acknowledges that the Company and the Adviser are relying on such information in connection with (a) the Subscriber being
admitted as a Shareholder, (b) not registering the offer and sale of Shares under the Securities Act or any state securities laws, (c) if applicable, determining whether Benefit Plan Investors (as defined in Schedule 2) own less than 25%
of the value of Shares, as determined under the Plan Asset Regulation (as defined in Schedule 2), from time to time, and (d) the management of the Company’s business. If at any time during the term of the Company any of the representations
and warranties contained in this Subscription Agreement (including the Annexes, Schedules and Exhibits attached hereto) shall cease to be true, the Subscriber will promptly notify the Company in writing. 

  

	
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 10.    Power of Attorney; Appointment of Company as Attorney-in-fact and Agent. 
 (a) The Subscriber hereby
constitutes and appoints the Company its true and lawful attorney-in-fact and agent with full power of substitution and resubstitution for the Subscriber and in the
Subscriber’s name, place and stead, in any and all capacities and to take any and all other actions as are authorized by the power of attorney contained in this Subscription Agreement. The power of attorney granted hereby shall be deemed an
irrevocable special power of attorney, coupled with an interest, which the Company may exercise for the Subscriber by the signature of the Company or by listing the Subscriber as a Shareholder executing any instrument with the signature of the
Company as attorney-in-fact for the Subscriber. This grant of authority shall survive the assignment by the Subscriber of the whole or any portion of the
Subscriber’s Shares, except where the assignment is of all of the Subscriber’s Shares in the Company and the assignee thereof, with the consent of the Company, is admitted as a Shareholder; provided, however, this power of attorney shall
survive the delivery of such assignment for the sole purpose of enabling any such attorney-in-fact to effect such substitution. The Company, as attorney-in-fact for the Subscriber, may make, execute, sign, acknowledge, swear to, record and file: 

(i) all certificates and other instruments deemed advisable by the Company in order for the Company to enter into any borrowing
or pledging arrangement, including any Credit Facility; 
 (ii) all certificates and other instruments deemed advisable by
the Company to comply with the provisions of this Subscription Agreement and applicable law or to permit the Company to become or to continue as a business development corporation, and 

(iii) all other instruments or papers not inconsistent with the terms of this Subscription Agreement which the Company
considers advisable. 
 11.    Agents; Nominees. In the event (as indicated on Schedule 1) that the Subscriber is acting
as an agent pursuant to a power-of-attorney (“Agent”), or nominee (a “Nominee”) for an individual or entity that will be the beneficial
owner of the Shares, (i) in the case of an Agent, the Agent represents and warrants that the representations, warranties, and agreements made in this Subscription Agreement are made by the Agent with respect to and on behalf of the beneficial
owner as the Subscriber, and (ii) in the case of a Nominee who will be the Subscriber, the Nominee makes such representations on behalf of the Nominee, as the Subscriber, and the beneficial owner of the Shares subscribed for hereby. The Agent
or Nominee, as the case may be, represents and warrants that the Agent or Nominee has all requisite power and authority from said beneficial owner to execute and perform the obligations on behalf of the beneficial owner (and, as applicable, on its
own behalf as record owners of the Shares) under this Subscription Agreement and the Governing Documents, and hereby agrees to indemnify and hold harmless the Company, the Adviser and their respective affiliates, against any and all loss, liability,
claim, damage, cost, and expense whatsoever (including, but not limited to, legal fees and expenses) arising out of, or resulting from, or based upon, any misrepresentation or breach of warranty of this Section 11. 

12.    Company Elections. The Subscriber understands that the Company has filed or intends to file elections to be treated
as (i) a business development company under the Investment Company Act and (ii) a regulated investment company within the meaning of Code Section 851, for U.S. federal income tax purposes; pursuant to those elections, the Subscriber
will be required to furnish certain information to the Company as required under Treasury Regulations § 1.852-6(a) and other regulations. If the Subscriber is unable or refuses to provide such information
directly to the Company, the Subscriber understands that it will be required to include additional information on its income tax return as provided in Treasury Regulation §1.852-7. 

  

	
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 13.    Stone Point Name and Mark. The Subscriber acknowledges that:
(i) the “Stone Point” name and mark are the property of the Stone Point Capital LLC or its affiliates; (ii) the Company’s authority to use such name and mark may be withdrawn by Stone Point Capital LLC or its affiliates
without compensation to the Company; (iii) no Subscriber shall, by virtue of its ownership of Shares in the Company, hold any right, title or interest in or to such name and mark; and (iv) following the dissolution and liquidation of the
Company, all right, title and interest in and to such name and mark shall be held solely by Stone Point Capital LLC or its affiliates. 

14.    No Third-Party Beneficiaries. Except as provided with respect to a lender under a Credit Facility in
accordance with Section 7, the provisions of this Subscription Agreement are not intended to be for the benefit of or enforceable by any third party. Without limiting the foregoing, no third party shall, except as permitted by law and this
Subscription Agreement, have any right to (i) enforce or demand enforcement of a Subscriber’s Capital Commitment, obligation to return distributions, or obligation to make other payments to the Company as set forth in this Subscription
Agreement or (ii) demand that the Company issue any capital call. 
 15.    Miscellaneous Provisions. 

15.1.    Amendments and Waivers. This Subscription Agreement may be amended only with the written consent of
the Subscriber and the Company. The observance of any provision of this Subscription Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) by the party hereto that is entitled to the benefit
thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of such party waiving such term or condition. No waiver by any party hereto of any provision of this Subscription Agreement in any
one or more instances shall be deemed to be or construed as a waiver of the same or other provision of this Subscription Agreement on any future occasion. No delay or omission in the exercise of any power, remedy or right herein provided or
otherwise available to any party hereto shall impair or affect the right of such party thereafter to exercise the same. Any extension of time or other indulgence granted to any party hereto shall not otherwise alter or affect any power, remedy or
right with respect to the other party hereto, or the obligations of the party hereto to whom such extension or indulgence is granted. All remedies, either under this Subscription Agreement or by law or otherwise afforded, shall be cumulative and not
alternative. 
 15.2.    Survival of Representations and Warranties; Indemnity. All representations and
warranties contained herein or in any Attachments hereto made by the Subscriber shall survive indefinitely following the execution and delivery of this Subscription Agreement, and the issue and sale of Shares. The Subscriber shall and hereby does
agree to indemnify and hold the Company, the Adviser and their respective controlling persons, officers, directors, members, partners, employees, and affiliates, free and harmless from and in respect of any and all claims, actions, demands, causes
of action, liabilities, losses and expenses whatsoever (including, without limitation, attorneys’ fees) arising from the breach or alleged breach of any of the representations, warranties or covenants made by or on behalf of Subscriber in this
Subscription Agreement or in any Attachments hereto, or in the Governing Documents. Any claims for indemnity may be offset against subsequent distributions subject to applicable law. 

15.3.    Successors and Assigns. This Subscription Agreement shall be binding upon and inure to the benefit
of and be enforceable by the respective successors of the parties hereto. However, the Subscriber shall not transfer this Subscription Agreement or any of its rights in, to or under this Subscription Agreement and any attempted transfer shall be
void and without force or effect. 

  

	
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 15.4.    Notices. All notices, requests and other
communications hereunder must be in writing and shall be deemed to have been duly given only if delivered (a) in person, (b) by registered or certified mail (c) by private courier, (d) by facsimile or (e) by e-mail. All notices to the Subscriber shall be delivered to the Subscriber at its last known address, facsimile number or e-mail address as set forth in the records of the
Company. All notices to the Company shall be delivered to Stone Point Credit Corporation, 20 Horseneck Lane, Greenwich, Connecticut 06830, Attention: Investor Relations, facsimile number [     ] or email [    
]. All notices to the Subscriber shall be delivered to the address, facsimile number and email address provided by the Subscriber in Section 5 of Schedule 1 attached hereto. The Subscriber may designate a new address for notices by giving
written notice to that effect to the Company. The Company may designate a new address for notices by giving written notice to that effect to the Subscriber. A notice given in accordance with the foregoing clauses (a), (b) and (c) shall be
deemed to have been effectively given three Business Days after such notice is mailed by registered or certified mail, return receipt requested, or one Business Day after such notice is sent by overnight FedEx or other
one-day provider, to the proper address, or at the time delivered when delivered in person or by private courier. A notice given by facsimile or email shall be deemed to have been effectively given when sent
unless the sender receives a message of “error in transmission,” provided confirmatory notice is sent by first class mail, postage prepaid or receipt is confirmed by an officer or other authorized representative of the recipient by
answerback or other written means. 
 15.5.    Applicable Law. Subject to Section 9.7, this
Subscription Agreement shall be construed in accordance with and governed by the internal substantive laws (without giving effect to the choice of law or conflict of law rules or provisions that would cause the application of the laws of any
jurisdiction other than the State of Delaware) of the State of Delaware. 
 15.6.    Arbitration. Any
dispute relating to this Subscription Agreement that arises prior to an initial public offering of the Shares which cannot be amicably resolved between the parties shall be resolved by binding arbitration conducted in accordance with the Commercial
Arbitration Rules of the American Arbitration Association then prevailing, and the decision of the arbitrators shall be final and binding on all the parties. Notwithstanding the foregoing, the parties agree that no consequential, indirect, exemplary
or punitive damages shall be awarded in any such arbitration. The costs of the arbitration (other than fees and expenses of counsel, which shall be the responsibility of the parties retaining such counsel) shall be shared equally by the parties,
subject to the indemnification provisions set forth in Section 15.2. The parties agree that exclusive venue for any arbitration pursuant to this Section 15.6 shall be New York, New York and that notice of such arbitration may be provided
in the manner set forth in Section 15.4. 
 15.7.    Headings, etc. The table of contents and the
headings of the sections of this Subscription Agreement are inserted for convenience only and shall not be deemed to constitute a part hereof. 

15.8.    Severability. In the event any provision of this Subscription Agreement is determined to be invalid
or unenforceable, such provision shall be deemed severed from the remainder of this Subscription Agreement and replaced with a valid and enforceable provision as similar in intent as reasonably possible to the provision so severed, and shall not
cause the invalidity or unenforceability of the remainder of this Subscription Agreement. 
 15.9.    Entire
Agreement. This Subscription Agreement, together with its Attachments (which Attachments are incorporated in this Subscription Agreement by reference), constitutes the entire agreement between the parties hereto with respect to the subject
matter hereof, and any other prior or contemporaneous written or oral agreements, statements or assurances with respect to this subject matter are hereby rescinded and terminated. 

  

	
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 15.10.    Irrevocability and Acceptance. This Subscription
Agreement is and shall be irrevocable by the undersigned but will not be binding on the Company unless and until it is agreed to and accepted by the Company. The Company in its sole discretion may accept this Subscription Agreement with respect to
the Capital Commitment in whole or in part. Acceptance will be given either by delivery of this Subscription Agreement to the Subscriber with the form of acceptance executed by the Company or by such execution and written notice thereof to the
Subscriber. This Subscription Agreement will expire if it is not accepted by the Company on or prior to nine months from the date Subscriber has executed this Subscription Agreement. 

15.11.    Counterparts; Facsimile or PDF Signatures. This Subscription Agreement may be executed in several
counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument. Facsimile or PDF counterpart signatures to this Subscription Agreement shall be acceptable and binding. 

15.12.    Electronic Delivery of Communications. The Subscriber hereby acknowledges and agrees that the
Company and/or the Adviser may deliver and make reports, statements and other communications, including, without limitation, the Offering Documents, this Subscription Agreement, Form 1099s and other tax related information and documentation
(“Account Communications”), available to the Subscriber in electronic form, such as e-mail or by posting on a web site. It is the Subscriber’s affirmative obligation to notify the Company
in writing if the Subscriber’s e-mail address(es) listed in Section 5 of Schedule 1 change(s). The Subscriber may revoke or restrict its consent to electronic delivery of Account Communications at
any time by notifying the Company, in writing, of the Subscriber’s intention to do so, and will thereafter receive such Account Communications in paper form. 

16.    Compliance with the U.S. Patriot Act; Solicitation Fee Acknowledgment. 

16.1.    Compliance with the U.S. Patriot Act. The Subscriber hereby understands that to help the United
States government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each Subscriber who opens an account, all as set forth on
Schedule 1. The responses provided on such Schedule are deemed to be made in this Subscription Agreement as if expressly set forth herein. 

17.    Confidentiality. 

(a) The Subscriber acknowledges that the Offering Document and other information relating to the Company have been submitted to the Subscriber
on a confidential basis for use solely in connection with the Subscriber’s consideration of the purchase of Shares. The Subscriber agrees that, without the prior written consent of the Company (which consent may be withheld at the sole
discretion of the Company), the Subscriber shall not (i) reproduce the Offering Document or any other information relating to the Company, in whole or in part, or (ii) disclose the Offering Document or any other information relating to the
Company to any person who is not an officer or employee of the Subscriber who is involved in its investments, or partner (general or limited) or affiliate of the Subscriber (it being understood and agreed that if the Subscriber is a pooled
investment fund, it shall only be permitted to disclose the Offering Document or other information related to the Company to its limited partners or underlying investors if the Subscriber has required its limited partners or underlying investors to
enter into confidentiality undertakings no less onerous than the provisions of this Section 17), except to the extent (A) such information has become generally available to the public other than as a result of the breach of this
Section 17 by the Subscriber or any agent or affiliate of the Subscriber; (B) such information may be required to be included in any report, statement or testimony required to be submitted to any municipal, state or national regulatory
body having jurisdiction over the Subscriber; (C) such information may be required in response to any summons or subpoena or in connection with any litigation; (D) necessary to comply with any law, order, regulation or ruling applicable to
the Subscriber; (E) it is necessary to disclose such information to the Subscriber’s employees and professional advisors (including the Subscriber’s auditors and counsel and, for an ERISA Shareholder, such Persons as are
necessary for the proper administration of the ERISA plan), so long as such Persons are advised of the confidentiality obligations contained herein; and (F) such information may be required in connection with an audit by any taxing authority.
The Subscriber further agrees to return the Offering Document and any other information relating to the Company if no purchase of Shares is made or upon the Company’s request therefore. The Subscriber acknowledges and agrees that monetary
damages would not be sufficient remedy for any breach of this section by it, and that in addition to any other remedies available to the Company in respect of any such breach, the Company shall be entitled to specific performance and injunctive or
other equitable relief as a remedy for any such breach. 

  

	
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 (b) The Subscriber further acknowledges that all information received in connection with
this Subscription Agreement and the Company is confidential, and agrees that in the event the Subscriber receives material non-public information, the Subscriber shall not engage in any securities trading on
the basis of such information in violation of applicable law. 
 18.    Tax Matters. The Subscriber agrees to furnish the
Company or the Adviser with any information, representations and forms as shall reasonably be requested by the Company or the Adviser from time to time to assist it in complying with any applicable law or tax requirements or determining the extent
of, and in fulfilling, its withholding obligations. The Subscriber agrees to furnish the Adviser with any representations and forms as shall reasonably be requested by the Adviser to assist it in obtaining any exemption, reduction or refund of any
withholding or other taxes imposed by any taxing authority or other governmental agency upon the Company or amounts paid to the Company. 

19.    FATCA and CRS. The Subscriber agrees to provide to the Company or its agents, upon request, any documentation or
other information regarding the Subscriber and its beneficial owners that the Company or its agents may require from time to time in connection with the Company’s obligations under, and compliance with, applicable laws and regulations
including, but not limited to, FATCA and the Common Reporting Standard (“CRS”) developed by the Organisation for Economic Co-operation and Development, both FATCA and CRS as implemented in the
Cayman Islands. By executing this Subscription Agreement, the Subscriber waives, to the fullest extent permitted by law, any provision under the laws and regulations of any jurisdiction that would, in the absence of such waiver, prevent or
inhibit the Company’s compliance with applicable law as described in this paragraph including, but not limited to preventing (a) the Subscriber from providing any requested information or documentation, or (b) the disclosure by the
Company or its agents of the provided information or documentation to applicable governmental or regulatory authorities. The Subscriber further acknowledges that the Company and the Adviser may take such action as each of them considers
necessary in relation to such Subscriber’s holding and/or withdrawal proceeds to ensure that any withholding tax payable by the Fund, and any related costs, interest, penalties and other losses and liabilities suffered by the Company, or any
other investor, or any agent, delegate, employee, director, officer or affiliate of any of the foregoing persons, arising from such Company’s failure to provide any requested documentation or other information to the Company, is economically
borne by such Subscriber. Such actions may include, but are not limited to, the following 

  

	
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 (a) The disclosure by the Company or such other service provider or delegate of the Fund, of
certain information relating to the Subscriber to the Cayman Islands Tax Information Authority (“TIA”) or equivalent authority and any other foreign government body as required by FATCA or CRS. Such information may include, without
limitation, confidential information such as financial information concerning the Subscriber’s investment in the Company, and any information relating to any shareholders, principals, partners, beneficial owners (direct or indirect) or
controlling persons (direct or indirect) of the Subscriber. 
 (b) The Company may compulsorily withdraw the Subscriber in accordance with
the terms of the Investment Advisory Agreement and may deduct relevant amounts from the Subscriber so that any withholding tax payable by the Company or any related costs, debts, expenses, obligations or liabilities (whether internal or external to
the Company) are recovered from the Subscriber whose action or inaction (directly or indirectly) gave rise or contributed to such taxes, costs or liabilities. The Subscriber expressly acknowledges that such documentation and the information therein
may be provided to the TIA and/or the United States Internal Revenue Service and to any withholding agent that has control, receipt or custody of the income of which the Subscriber is the beneficial owner or any withholding agent that can disburse
or make payments of the income of which the Subscriber is the beneficial owner. The Subscriber acknowledges that the Company or any relevant service provider or delegate of the Company will be required to report to the TIA on an annual basis, with
account information being disseminated by the TIA to tax authorities around the globe. The Cayman Islands government may also enter into additional agreements with other countries in the future, and additional countries may adopt CRS, which will
likely further increase the reporting and/or withholding obligations of the Company. 
 20.    Compliance with Laws;
Disclosure. The Company may disclose information concerning the Company or the Shareholders to the extent necessary to comply with applicable laws, including ERISA (if applicable), and regulations or policies, including any anti-money
laundering or anti-terrorist laws or regulations or policies related thereto. Each Subscriber hereby agrees to provide the Company, promptly upon request, all information that the Company reasonably deems necessary to enable the Company and/or the
Adviser to comply with applicable laws, including, without limitation, ERISA (if applicable) and the Investment Company Act, and regulations or policies thereunder. The Subscriber consents to disclosure by the Company and its agents of information
pertaining to the Subscriber to relevant third parties as the Company or its agents reasonably deem appropriate or necessary in connection with the operations of the Company, including without limitation, to governmental, regulatory, national
security, courts, law enforcement or other authorities, banks, financial intermediaries and counterparties, including, without limitation, to parties outside of the jurisdiction in which the information was initially collected by the Company. The
Subscriber hereby agrees to provide the Company and [the Company’s custodian], promptly upon request, all information requested in connection with their anti-money laundering and know-your-customer requirements. Each Subscriber hereby
represents and warrants that the Subscriber has obtained all consents and approvals, as required by all applicable laws, regulations, by-laws and ordinances that regulate the collection, processing, use or
disclosure of information concerning the Subscriber, necessary to disclose such information to the Company, and as required for the Company to use and disclose such information in connection with the performance of its obligations hereunder, and
that the disclosure of such information does not violate any applicable laws, regulations, by-laws or ordinances. The Subscriber shall fully indemnify the Company and the Company shall have no liability for
any action taken or omitted by it in reliance upon the foregoing representation and warranty for claims or complaints for failure to comply with any applicable law that regulates the collection, processing, use or disclosure of information
concerning the Subscriber. 

  

	
	 - 19 -
  

	FOR ALL SUBSCRIBERS

 Privacy Policy 

Stone Point Capital LLC (“Stone Point”) has established policies with respect to nonpublic personal information provided to it with respect
to individuals who are investors in the Company, which policies also apply to the Stone Point Credit Adviser LLC (the “Administrator”). The Company has adopted the privacy policies of the Adviser as applicable to the Company. 

The Company considers privacy to be fundamental to its relationship with its shareholders. The Adviser, the Company and Stone Point are committed to
maintaining the confidentiality, integrity and security of a shareholder’s non-public personal information. Accordingly, the Company has developed internal policies and practices to protect the
confidentiality of non-public personal information while still meeting investor needs. The Company is providing this notice to investors to describe what kinds of information the Company collects about
investors and the circumstances in which that information may be disclosed to third parties. 
 Collection of Information 

In order to conduct the Company’s investment program in an accurate and efficient manner, the Company must collect and maintain certain non-public personal information about investors. The Company may collect and maintain the following categories of personal information: 
  

	 	•	 	 Name, physical address, e-mail address, phone number, Social Security
number, passport number, driver’s license information, bank account number, other financial information and related non-public personal information that identifies investors 

 

	 	•	 	 Financial transaction information 

 

	 	•	 	 Information reflecting a shareholder’s preferences or characteristics 

 

	 	•	 	 The Company obtains the categories of personal information listed above from the following sources:

  

	 	•	 	 Information directly from shareholders through subscription agreements, questionnaires or other forms that
shareholders submit to the Company 

  

	 	•	 	 Information from transactions made with the Company, its affiliates or third parties 

 

	 	•	 	 Information the Company may acquire through meetings, telephone conversations,
e-mail messages and other interactions the Company may have with shareholders over the Internet or via other technologies 

Use of Information 
 The Company may use or
disclose the personal information it collects for one or more of the following business purposes: 
  

	 	•	 	 To complete the transaction for which the personal information was collected or to provide a service requested by
a shareholder 

  

	 	•	 	 To create, maintain, customize and secure shareholder accounts 

 

	 	•	 	 To process shareholder requests, transactions, payments and prevent transactional fraud 

 

	 	•	 	 To help maintain the safety, security and integrity of the Company’s business, services, website and other
technology assets 

  

	 	•	 	 To comply with legal and/or regulatory obligations 

 

	 	•	 	 To comply with general business, research or operational purposes or for all other reasons as permitted by law or
regulation 

  

	
	 - 20 -
  

	FOR ALL SUBSCRIBERS

 Disclosure of Information 

The Company will not disclose any non-public personal information about shareholders, except to the Adviser, the
Administrator or their respective affiliates and the Company’s service providers as allowed by applicable law or regulation, including any anti-money laundering or anti-terrorist laws or regulations. In the normal course of serving
shareholders, information the Company collects may be shared with companies that perform various services to the Company such as its accountants, attorneys, transfer agents, escrow agents, custodians, administrative agents, marketing service firms,
broker-dealers and other similar relationships. Specifically, the Company may disclose to these service providers non-public personal information including: 

 

	 	•	 	 Information received on subscription agreements or other forms, such as name, address, account or tax
identification number and the types and amounts of investments. 

  

	 	•	 	 Information about transactions with the Company, its affiliates or others, such as participation in other
investment programs, ownership of certain types of accounts such as IRAs or other account data; and 

  

	 	•	 	 Information the Company receives from a consumer reporting agency, such as an individual’s creditworthiness
and credit history. 

 In addition, information the Company collects may be shared with certain of the Company’s portfolio
investments and/or their advisors, when necessary, to meet withholding tax requirements or other legal and/or regulatory obligations or to facilitate transaction-related matters. 

Any third-party that receives non-public personal information is required to use shareholder information only for the
purposes for which the Company discloses the information to them and as allowed by applicable law or regulation. Such third-party is not permitted to share or use this information for any other purpose. The Company not sell shareholder personal
information. 
 Employee Access 
 To protect non-public personal information, the Company, the Adviser and the Administrator permit access only to authorized employees who need access to that information to provide services to shareholders or in connection
with the administration of the Company. The Company, the Adviser and the Administrator maintain physical, electronic and procedural safeguards that comply with U.S. federal standards to guard non-public
personal information. An individual shareholder’s right to privacy extends to all forms of contact with the Company, including telephone, written correspondence and electronic media, such as the Internet. 

Former Investors 
 The Company will adhere to the
policies and practices described in this notice regardless of whether a shareholder is a current or former investor in the Company. 

  

	
	 - 21 -
  

	FOR ALL SUBSCRIBERS

 [Website 

Visitors to the Company’s website at [www.stonepoint.com] should review the Terms of Use & Privacy Policy statements on the website.]2 
 California Residents 

This provision supplements the information contained above and applies solely to residents of California. Shareholders have the right to request that the
Company disclose the following information to them about the Company’s collection and use of personal information over the 12 months prior to the date of such request: 
  

	 	•	 	 The categories of personal information the Company collects about a shareholder. 

 

	 	•	 	 The categories of sources for the personal information the Company collects about a shareholder.

  

	 	•	 	 The Company’s business or commercial purpose for collecting that personal information.

  

	 	•	 	 The categories of third parties with whom the Company shares that personal information. 

 

	 	•	 	 The specific pieces of personal information collected about a shareholder. 

If the Company disclosed personal information for a business purpose, a list of the categories of personal information the Company has disclosed in the prior
12 months. 
 Shareholders have the right to request that the Company delete any of a shareholder’s personal information collected and retained. The
Company will, however, not delete personal information if it is needed (i) for a business purpose, (ii) to comply with legal obligations, or (iii) for certain other reasons in accordance with applicable law or regulation. 

To exercise the rights described above, shareholders may submit a verifiable consumer request to the Company by either
e-mailing the Company at SPCprivacyrequests@stonepoint.com or calling the Company at (833)–786-7682. The request must provide sufficient information that allows the
Company to reasonably verify a shareholder is the person about whom the Company collected personal information and it must describe such shareholder’s request with sufficient detail that allows the Company to properly understand, evaluate, and
respond to it. The Company will only use personal information provided in a verifiable consumer request to verify the requestor’s identity or authority to make the request. The Company will not deny services, charge different prices, offer a
different quality of service or otherwise discriminate against a shareholder for exercising these rights. 
 If you have any questions
concerning our privacy policies, please contact Jacqueline Giammarco (telephone: (203) 862-3124). 
  

 

	2 	 To be discussed whether the BDC will have a website. 

  

	
	 - 22 -
  

	FOR ALL SUBSCRIBERS

 SIGNATURE PAGE 
  

									
			
	INDIVIDUAL SUBSCRIBER:	 		 	INSTITUTIONAL SUBSCRIBER*:
			
	  
	 		 	  

	Name of Individual Subscriber	 		 	Name of Institutional Subscriber
					
	Signature:	 	
                     
                   
	 	        	 	By:	 	
                     
                    

					
	Print Name:	 	  
	 		 	Print Name:	 	  

					
	Date:	 	  
	 		 	Title:	 	  

					
		 		 		 	Date:	 	  

  

	*	 If IRA, must be in the form of: (the name of the IRA Custodian) for the benefit of (the name of the
individual) and must also be acknowledged by custodian or trustee below. 

 Acknowledgment by IRA Custodian or Trustee
with respect to Investment for an IRA: 
 By signing below, the undersigned custodian or trustee of the IRA for the benefit of the Individual
Subscriber named above (the “Client IRA”) acknowledges that investment in the Company is being made through the Client IRA from the below referenced account and certifies that the Client IRA has directed the custodian
or trustee to sign this Subscription Agreement on behalf of the IRA. The trustee or custodian’s contact, account reference number and Tax ID are set forth below.     

 

					
			
	Name of IRA Holder:	 	                	 	
                     
                   

			
	Name and Address of Custodian:	 		 	  

			
	Contact Individual:	 		 	  

			
	IRA Account or Other Reference Number:	 		 	  

			
	Trustee/Custodian’s Tax I.D. Number:	 		 	  

			
	Acknowledgement by Custodian:	 		 	  

			
		 		 	By:                                     
                                         
              
			
		 		 	Name:                                     
                                         
         
			
		 		 	Title:                                    
                                         
             

  

ALL SUBSCRIBERS, PLEASE FOLLOW THESE INSTRUCTIONS: 

ALL SUBSCRIBERS: If you do not complete the applicable Schedule(s) or Annexes attached hereto, your Subscription
Agreement shall be deemed incomplete and will be returned to you. 
 INDIVIDUAL
SUBSCRIBERS: Please complete Schedules 1 and 2 (if applicable) and Annex A attached hereto. 

INSTITUTIONAL SUBSCRIBERS: Please complete
Schedules 1 and 2 (if applicable) and Annex B attached hereto. 

 THIS SUBSCRIPTION AGREEMENT SHALL NOT BE EFFECTIVE UNLESS AND UNTIL IT IS
COUNTERSIGNED BY THE COMPANY: 
 [Company’s signature page follows] 

  

	
	 - 23 -
  

	FOR ALL SUBSCRIBERS

 SIGNATURE PAGE OF THE COMPANY: 

 

			
	Agreed to and Accepted by	  	
	 STONE POINT CREDIT CORPORATION
  

as of             , 20    
	  	
$                          
                                  

Amount of Commitment Accepted

 

			
	By:	 	
                    

		
	Print Name:	 	  

		
	Title:	 	  

  

	
	 - 24 -
  

	FOR ALL SUBSCRIBERS

 Schedule 1 to Subscription Agreement: 

Subscriber Information 

(For All Subscribers) 

Instructions: Please complete the applicable parts of this Schedule. 

Name and Address (please print) 
  

                          
                                         
                                         
                                         
                        
 Name (Print
both names if joint registration) 
  

                          
                                         
                                         
                                         
                        
 Street
Address/Address of Principal Office (No P.O. Boxes) 

                          
                                         
                                         
                                
(            )                 

City                          
              
State                                 Zip
Code                                     Telephone
No.                     

1.    Investment. The minimum Capital Commitment in the Company is $250,000. Please indicate below the amount of the
Subscriber’s Capital Commitment in the Company. 
 Amount of Capital Commitment:
$                             

Payment made by wire direct to: 
  

			
	 [            
]

		
	 ABA#
	  	[             ]
		
	 DDA#
	  	[             ]
		
	 Ultimate Acct Name:
	  	Stone Point Credit Corporation
		
	 FFC:
	  	Account Name

 2.    Primary Contact Person for this Account. 

Name:
                                         
                                         
                                    

Address:
                                         
                                         
                                   

Telephone Number:
                                         
                                         
                 
 Telefax Number (if available):
                                         
                                         

E-mail Address:
                                         
                                         
                      
  

                       
                                         

  

	
	 - 25 -
  

	FOR ALL SUBSCRIBERS

 3.    Persons authorized to act for the Subscriber
(i.e. authorized to invest in funds, request redemptions or withdrawal, direct payment of funds, etc.). In addition to the persons authorized by the power of attorney contained in
Section 10 of the Subscription Agreement, the Subscriber hereby authorizes the person(s) noted below to act individually on behalf of this account unless otherwise noted. Please provide name, specimen signatures and titles in the form that such
person would sign documents on behalf of this account, and telephone numbers. Without limiting the power of attorney contained in Section 10 of the Subscription Agreement, if there are circumstances under which more than one signature is
required to take action with respect to this account, please state such circumstances. Requests to change the identity of persons authorized to act on behalf of a Subscriber which is a corporation, partnership, trust, estate or other fiduciary must
be accompanied by appropriate documentation establishing the authority of the person seeking to act on behalf of the Subscriber. The Subscriber agrees that the Company may rely on the information provided herein until it receives written notice of
superseding instructions. 
  

					
	3.1	  		  	3.2
	  
	  		  	  

	Signature	  	                    	  	Signature
	  
	  		  	  

	Name (and title, if applicable)	  		  	Name (and title, if applicable)
	  
	  		  	  

	Telephone number	  		  	Telephone number
			
	3.3	  		  	3.4
	  
	  		  	  

	Signature	  		  	Signature
	  
	  		  	  

	Name (and title, if applicable)	  		  	Name (and title, if applicable)
	  
	  		  	  

	Telephone number	  		  	Telephone number

  
 - 26 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

 4.    Tax Information: 

Please provide your Taxpayer I.D. Number/Social Security Number (as applicable): 

Tax ID/SSN:
                                  

For Joint Accounts, please provide the Taxpayer I.D. or Social Security Number (as applicable) for each Joint Account Holder. 

 

									
	Name:	 	  
	 	                	 	Tax ID:	  	  

					
	Name:	 	  
	 		 	Tax ID:	  	  

 The Subscriber is a (please check the appropriate box): 

☐ Corporation 

☐ Limited Partnership 

☐ General Partnership 

☐ Limited Liability Company     

☐ S-Corporation     

☐ Charitable Trust     

☐ Tax-Exempt Endowment     

☐ Private Tax-Exempt Foundation 

☐ Employee Benefit Plan (self-directed) 

☐ Employee Benefit Plan (trustee directed)     

☐ Fund of Funds 

☐ Other Tax Exempt Organization
                                         
        
 ☐ Other
                                         
            
 Tax year ends:
                                         
    
 State (if applicable) and country of residence for tax purposes:
                                        

 For a domestic self-directed employee benefit plan (e.g. Keogh or self-directed 401k): 

Keogh or Plan Account Number
                                        

 Tax year ends
                                        

 Plan or Custodian Taxpayer I.D. Number
                                         
            

  
 - 27 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

 Cost Basis Election: 

All Subscribers, please elect a cost basis reporting method that will apply with respect to your investment in the Shares by checking the applicable box below
(if you do not elect a cost basis method below, the default method that will apply to your Shares is First In, First Out (FIFO)): 

☐ First In, First Out (FIFO) (This is the default method if no election is made.) 

☐ Average Cost Basis 

☐ Specific Share Identification (SSI) 

☐ SSI – First In, First Out (SSI – FIFO) 

☐ SSI – Highest In, First Out (SSI – HIFO) 

☐ SSI - Low Cost Long Term 

☐ SSI - Low Cost 

☐ SSI - Low Cost Short Term 

☐ SSI - High Cost Long Term 

☐ SSI - High Cost Short Term 

☐ SSI – Last In, First Out (SSI – LIFO) 

☐ SSI – Proportional 

☐ SSI – Manual Selection 

If you wish to change your cost basis election at any time in the future, please contact the Company and provide your account number, current cost-basis
election and revised cost-basis election. The Company will provide the information to [the Company’s custodian] to implement the change. 

  
 - 28 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

	5.	 Statements and Other Correspondence. Statements and other correspondence should be
sent to (give name, address, fax number and email address, if available): 

  

							
	 	 	 Primary Contact
	 	 	 	 Secondary Contact

				
	Name	 	
                     
                   
	 	            	 	
                     
                   

				
	Company (if applicable)	 	  
	 		 	  

				
	Title (if applicable)	 	  
	 		 	  

				
	Address	 	  
	 		 	  

				
		 	  
	 		 	  

				
	Phone	 	  
	 		 	  

				
	Fax	 	  
	 		 	  

				
	E-mail	 	  
	 		 	  

 Type of Correspondence Contacts should receive (please check all that apply): 

 

					
	 	  	 Primary Contact
	  	 Secondary Contact

	Funding Notices	  		  	
			
	Annual Financial Statements	  		  	
			
	Quarterly Reports	  		  	
			
	1099s and Tax Information	  		  	
			
	Original Legal Documents	  		  	
			
	Copy of Legal Documents	  		  	
			
	Amendments or Other Documents to be Signed	  		  	
			
	Other Investor Correspondence	  		  	
			
	Distribution Notice	  		  	

  
 - 29 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

 6.    Distributions. Please check the appropriate box to elect
participation in the Company’s Dividend Reinvestment Plan: 
  

	 	☐	 Please check here if the Subscriber wishes to “opt in” to the Company’s Dividend Reinvestment
Plan prior to an Exchange Listing. 

  

	 	☐	 Please check here if the Subscriber wishes to “opt out” of the Company’s Dividend Reinvestment
Plan and receive cash distributions. 

 Please indicate where cash distributions should be sent (please check and
complete one): 
  

							
	For All Subscribers	  	☐  Wire distributions to:	  	        	  	☐  Send check to:
				
	Bank Name:	  	  
	  		  	  

				
	Bank Address:	  	  
	  		  	  

				
	Bank ABA #:	  	  
	  		  	  

				
	Account Number:	  	  
	  		  	  

				
	Account Name:	  	  
	  		  	  

				
	Reference:	  	  
	  		  	  

				
	Contact Name:	  	  
	  		  	  

				
	Phone:	  	  
	  		  	  

				
	Email:	  	  
	  		  	  

				
	SWIFT Code:	  	  
	  		  	  

				
	Comments:	  	  
	  		  	  

				
	For Non-US Subscribers Only:	  		  		  	
				
	US Correspondent Bank Name:	  	  
	  		  	  

				
	US Correspondent Bank’s Routing Codes (either ABA # or CHIPS #):	  	  
	  		  	  

				
	Beneficiary’s Bank’s Name:	  	  
	  		  	  

				
	Beneficiary’s Bank’s Routing Codes (either BIC # or UID #):	  	  
	  		  	  

				
	Beneficiary’s Name:	  	  
	  		  	  

				
	Beneficiary’s Account Number:	  	  
	  		  	  

				
	Additional Reference Information:	  	  
	  		  	  

  
 - 30 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

 7.    Service of Process. (For foreign Subscribers only. Does
not apply to U.S. domestic Subscribers.) If the Subscriber is either a foreign entity or is not a permanent resident of the United States, the Subscriber hereby irrevocably appoints the following as an agent within the United States to
receive service of process on behalf of the Subscriber in connection with the enforcement of the obligation of the Subscriber to make capital contributions to the Company, or otherwise in connection with the Subscriber’s subscription to
contribute capital to the Company: 
  

	
	  

	  

	  

 8.    Additional Information. Please indicate your agreement with the statements below
by checking “yes” or “no”. 
  

	 	8.1	 You understand that the entire amount of your investment may be
lost.  ☐  Yes    ☐  No 

  

	 	8.2	 You have prior experience investing in, and are familiar with, the types of investments in which the Company
will invest. 

 ☐  Yes    ☐  No 

 

	 	8.3	 Following your investment in the Company, you will have adequate means of providing for your current needs and
contingencies and you have no need for liquidity in this investment.  ☐  Yes    ☐  No 

  

	 	8.4	 Your investment in the Company represents less than 5% of your net worth (excluding principal
residence).  ☐  Yes    ☐  No 

 If not, estimate percentage
of net worth (excluding principal residence)                 %. 

9.    Subscriber Status as Agent or Nominee 

(The Subscriber must initial each applicable category.) 
  

	 	        	 The Subscriber is acquiring the Shares for its own account, risk and beneficial interest.

 OR 
  

	 	        	 The Subscriber is acting as an Agent or Nominee on behalf of the beneficial owner. 

10.    Questionnaire regarding the Beneficial Owner of the Shares for Purposes of Rule 506(d) Under Regulation D of the Securities
Act 
 Please complete the below questions on behalf of the beneficial owner3 of the Shares in
the Company. 
 (Please Check Each as Applicable) 
  

 

	3 	 For purposes of this Section 10, the term “beneficial owner” is interpreted in the same
manner as under Rule 13d-3 of the U.S. Securities Exchange Act of 1934, as amended, and includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, under Rule 13d-3 has or shares, or
is deemed to have or share: (a) voting power, which includes the power to vote, or to direct the voting of, such security; and/or (b) investment power, which includes the power to dispose of, or to direct the disposition of, such security.
Beneficial ownership includes both direct and indirect interests, determined as under Rule 13d-3. In addition, where holders of Shares have voting agreements in place, they may be required to aggregate their Shares to determine if they are
beneficial owners of 20% or more of Shares in accordance with Rule 13d-3 and Rule 13d-5(b), and who within the voting group is deemed the beneficial owner. 

  
 - 31 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

	 	10.1	 Has the beneficial owner, within the last ten (10) years, been convicted of a felony or misdemeanor
(a) in connection with the purchase or sale of any security, (b) involving the making of any false filing with the SEC or (c) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer,
investment adviser or paid solicitor of purchasers of securities? 

☐  Yes    ☐  No 
  

	 	10.2	 Is the beneficial owner subject to any order, judgment or decree of any court of competent jurisdiction,
entered in the last five (5) years, that restrains or enjoins the beneficial owner from engaging in or continuing to engage in any conduct or practice (a) in connection with the purchase or sale of any security, (b) involving the
making of a false filing with the SEC or (c) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers of securities? 

☐  Yes    ☐  No 
  

	 	10.3	 Is the beneficial owner subject to a Final Order4 of a
state securities commission (or an agency or officer of a state performing like functions), a state authority that supervises or examines banks, savings associations, or credit unions, a state insurance commission (or an agency or officer of a state
performing like functions), an appropriate federal banking agency, the U.S. Commodity Futures Trading Commission, or the National Credit Union Administration, that: 

 

	 	(a)	 bars the beneficial owner from: 

 

	 	(1)	 association with an entity regulated by such commission, authority, agency, or officer; 

 

	 	(2)	 engaging in the business of securities, insurance, or banking; or 

 

	 	(3)	 engaging in savings association or credit union activities; or 

 

	 	(b)	 constitutes a Final Order based on a violation of any law or regulation that prohibits fraudulent,
manipulative, or deceptive conduct within the last ten (10) years? 

☐  Yes    ☐  No 
  

	 	10.4	 Is the beneficial owner subject to an order of the SEC pursuant to Section 15(b) or 15B(c) of the Exchange
Act or Section 203(e) or (f) of the Advisers Act that (a) suspends or revokes the beneficial owner’s registration as a broker, dealer, municipal securities dealer or investment adviser, (b) places limitations on the
beneficial owner’s activities, functions or operations, or (c) bars the beneficial owner from being associated with any entity or from participating in the offering of any penny stock? 

☐  Yes    ☐  No 
  

	 	10.5	 Is the beneficial owner subject to any order of the SEC, entered in the last five (5) years, that orders
the beneficial owner to cease and desist from committing or causing a violation or future violation of (a) any scienter-based anti-fraud provision of the federal securities laws (including without limitation Section 17(a)(1) of the
Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Advisers Act, or any other rule or regulation
thereunder) or (b) Section 5 of the Securities Act? 

☐  Yes    ☐  No 
  

 

	4 	 The term “Final Order” means a written directive or declaratory statement issued by a
federal or state agency described in (iii) above pursuant to applicable statutory authority that provides for notice and an opportunity for hearing, which constitutes a final disposition or action by that federal or state agency.

  
 - 32 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

	 	10.6	 Is the beneficial owner suspended or expelled from membership in, or suspended or barred from association with
a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade? 

☐  Yes    ☐  No 
  

	 	10.7	 Has the beneficial owner filed as a registrant or issuer, or has the beneficial owner been named as an
underwriter in, any registration statement or Regulation A offering statement filed with the SEC that, within the last five (5) years, (a) was the subject of a refusal order, stop order, or order suspending the Regulation A exemption or
(b) is currently the subject of an investigation or a proceeding to determine whether such a stop order or suspension order should be issued? 

☐  Yes    ☐  No 
  

	 	10.8	 Is the beneficial owner subject to (a) a United States Postal Service false representation order entered
into within the last five (5) years, or (b) a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property
through the mail by means of false representations? 

 ☐  Yes    ☐  No

  

	 	10.9	 If the answer is “yes” to any of questions 10.1 through 10.8 above, has the beneficial owner obtained
a waiver from disqualification under Rule 506(d)(2) either (a) from the SEC or (b) from the court or regulatory authority that entered the relevant order, judgment or decree? 

☐  Yes    ☐  No 

If the answer is “Yes” to any of questions 10.1 through 10.9 above, provide an explanation of the matter in question and attach a
copy of the order, judgment or other relevant documentation. 
  

	
	  

	  

	  

	  

	  

  
 - 33 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

 The Subscriber hereby confirms that the foregoing statements are true, accurate and
complete. The Subscriber further acknowledges, represents, warrants and agrees that (a) the Company is relying on these responses in order to satisfy certain obligations the Company has under federal securities laws, including in connection
with SEC filings made by or with respect to the Company, (b) the Subscriber has acted with reasonable care in conducting due diligence (including, in light of the circumstances, making factual inquiry into the existence of any disqualification)
to confirm the veracity of the responses, and (c) for so long as the Subscriber holds any Shares in the Company, the Subscriber will notify the Company in writing as soon as reasonably practicable if there is any change in any of the responses
set forth herein or if the Subscriber or beneficial owner becomes aware of any pending or threatened proceeding, judgment, order, or other action or circumstance that is reasonably likely to result in any change in the responses set forth in this
Section 10. 

  
 - 34 - 

 

			
		  	SCHEDULE 1 - FOR ALL SUBSCRIBERS

 Schedule 2 to Subscription Agreement: 

Status as Benefit Plan Investor or Other Plan Investor 

(For ERISA Shareholders, including IRAs, and Other Plan Investors Only) 

 

	(a)	 Overview 

The U.S. Department of Labor (the “DOL”) has promulgated a regulation, 29 C.F.R.
Section 2510.3-101 (as modified by Section 3(42) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the “Plan Assets
Regulation”). Pursuant to the Plan Assets Regulation, the term “Benefit Plan Investor” includes: (i) any employee benefit plan (as defined in Section 3(3) of ERISA) subject to Part 4 of Subtitle B of
Title I of ERISA; (ii) any plan, account or arrangement that is subject to Section 4975 of the Code; (e.g., an individual retirement account); and (iii) any entity whose underlying assets include plan assets by reason of the
investment in the entity, by any employee benefit plan or other plan described in (i) or (ii), or otherwise. For purposes of this determination, (i) the value of equity interests held by a person (other than a Benefit Plan Investor) that
has discretionary authority or control with respect to the assets of the entity or that provides investment advice for a fee (direct or indirect) with respect to such assets (or any affiliate of any such person) is disregarded, and (ii) only
that portion of the equity interests of an entity described in clause (iii) of the preceding sentence investing in another entity that are held by Benefit Plan Investors are included in the testing of such other entity. Benefit Plan Investors
also include that portion of any insurance company’s general account assets that are considered “plan assets” for purposes of ERISA or Section 4975 of the Code. 

 

	(b)	 Status as Benefit Plan Investor (Please Check Each as Applicable) 

(i)    Is the Subscriber or will the Subscriber be, or is the Subscriber or will the Subscriber be acting on behalf of any
entity that is or will be, an employee benefit plan that is subject to Part 4 of Subtitle B of Title I of ERISA, or an entity any of the assets of which include assets of any such plan? 

☐        Yes 

☐        No 

(ii)    Is the Subscriber or will the Subscriber be, or is the Subscriber or will the Subscriber be acting on behalf of
any entity that is or will be, a plan to which Section 4975 of the Code applies, or an entity any of the assets of which include assets of any such plan? 

☐        Yes 

☐        No 

(iii)    Is the Subscriber or will the Subscriber be, or is the Subscriber or will the Subscriber be acting on behalf of
any entity that is or will be, an insurance company general account? 
 ☐      Yes 

☐       No 

(iv)    If the answer to the above question (iii) is “yes”, please indicate the maximum percentage (if any)
of the Subscriber’s assets that constitutes or may in the future constitute assets of Benefit Plan Investors: 

        % 

  
 - 35 - 

			
		  	  
 SCHEDULE 2 – ERISA AND OTHER PLAN SUBSCRIBERS
ONLY

 (v)    Is the Subscriber or will the Subscriber be, or is the Subscriber
or will the Subscriber be acting on behalf of any entity that is or will be, an entity (other than an insurance company general account) whose underlying assets include plan assets by reason of a plan’s investment in the entity? 

☐        Yes 

☐        No 

(vi)    If the answer to the above question (v) is “yes”, please indicate the maximum percentage of the
Subscriber’s assets that constitutes or may in the future constitute assets of Benefit Plan Investors: 

         % 

(vii)    If the Subscriber is or will be, or is or will be acting on behalf of any entity that is or will be, investing as
a trustee or custodian for an Individual Retirement Account (“IRA”), is the Subscriber a qualified IRA custodian or trustee? If yes, the Acknowledgement by IRA Custodian or Trustee with respect to Investment for
an IRA on the signature page must be completed. 
 ☐        Yes 

☐        No 

(viii)    Is the Subscriber or will the Subscriber be, or is the Subscriber or will the Subscriber be acting on behalf of
any entity that is or will be, a participant-directed plan? 
 ☐        Yes 

☐        No 

(ix)    If the answer to the above question (viii) is “yes”, have individual plan participants influenced
or will they influence the investor’s decision to invest the participants’ funds in the Company? 

☐        Yes 

☐        No 

Without limiting the remedies available in the event of a breach, the Subscriber expressly agrees to promptly disclose to the Company in writing any
changes with respect to the percentages set forth in question (iv) and (vi) above (as applicable), to promptly re-confirm such percentage at any time upon the request of the Company (or other person
acting on behalf of the Company), and to provide such other information reasonably requested by the Company (or other person acting on behalf of the Company) for purposes of determining whether or not the Company is holding “plan assets.”

 (x)    Is the Subscriber or will the Subscriber be, or is the Subscriber or will the Subscriber be acting on
behalf of an entity that is or will be, a “governmental plan” within the meaning of Section 3(32) of ERISA, a “foreign plan,” or another plan or retirement arrangement that is not subject to Part 4, subtitle B of Title I of
ERISA and with respect to which Section 4975 of the Code does not apply, but is subject to laws similar to ERISA or Section 4975 of the Code or an entity or that is deemed to hold the assets of such a plan (each, an
“Other Plan Investor”)? 
 ☐        Yes 

☐        No 

(xi)    If the answer to the above question (x) is “yes”, the Subscriber hereby represents and warrants to
and agrees with the Company to the extent applicable, that its assets do not and will not constitute the assets of such Other Plan Investor under the provisions of applicable law. 

  
 - 36 - 

			
		  	  
 SCHEDULE 2 – ERISA AND OTHER PLAN SUBSCRIBERS
ONLY

 (xii)    Is the Subscriber or will the Subscriber be obligated to file
an annual return/report on an Internal Revenue Service Form 5500? 
 ☐        Yes 

☐        No 

Subscribers answering “yes” to the above question (xii) are requested to provide the following information: 

 

			
	Subscriber’s plan name:	  	  

		
	Subscriber’s plan number:	  	  

		
	Name of plan sponsor:	  	  

		
	EIN of plan sponsor:	  	  

		
	Name of plan trustee:	  	  

 (c)    For ERISA Shareholders and Other Plan Investors. If the Subscriber is,
or is acting on behalf of, a Benefit Plan Investor or an Other Plan Investor (each, a “Plan”), as an inducement to the Company’s sale, issuance of, or consent to transfer of, the Shares to the Subscriber,
the Subscriber represents and warrants that: 
 (1)    ☐    The Subscriber has been informed
of and understands the Company’s investment objectives, policies and strategies; 

(2)    ☐    The decision to invest in the Company was made by the applicable fiduciaries that
have the authority and discretion to and are duly authorized to make such investment with appropriate consideration of relevant investment factors with regard to the Shareholder and is consistent with the duties and responsibilities imposed upon
fiduciaries with regard to their investment decisions under ERISA or other applicable law; 
 (3)    ☐
    The Subscriber has the authority to invest plan assets in the Company under the appropriate investment policies and governing instruments applicable to the Shareholder for which the Subscriber is acting and under Title I of
ERISA or similar applicable law; 
 (4)    ☐    The Subscriber’s decision to invest plan
assets in the Company was made solely by the applicable fiduciary(ies), following appropriate consideration of the Offering Document and the Governing Documents, and the applicable fiduciary’s duties and responsibilities as a fiduciary; 

(5)    ☐    The Adviser has acted not as an “investment adviser” or otherwise as a
fiduciary (within the meaning of Section 3(21) of ERISA, Section 4975 of the Code or other similar law) with respect to the decision of the ERISA Shareholder or Other Plan Investor to invest in the Company or to direct the Company to enter
into the Investment Advisory Agreement with the Adviser; 
 (6)    ☐    The Adviser is
responsible only for the assets of the Company and the Adviser has no responsibility or authority with respect to any other assets of the Shareholder or with respect to: (i) the contents of the employee benefit plan comprising the Shareholder
and applicable trust documents, (ii) the role that the Shareholder’s investment in the Company plays in the context of the ERISA Shareholder’s overall portfolio; (iii) the composition of the Shareholder’s portfolio with
regard to diversification; (iv) the liquidity and anticipated current return of the Shareholder’s portfolio relative to the anticipated cash flow requirements of the Shareholder; or (v) the projected return of the portfolio with
respect to the funding objectives of the Shareholder. The Subscriber understands that this representation and warranty is being provided to the Company and the Adviser for the express purpose of assisting them in the performance of their duties with
respect to the Company; 

  
 - 37 - 

			
		  	  
 SCHEDULE 2 – ERISA AND OTHER PLAN SUBSCRIBERS
ONLY

 (7)    ☐    The acquisition and holding of
Shares by the Subscriber will not result in the occurrence of a non-exempt prohibited transaction under Part 4 of Title I of ERISA or under the related excise tax provisions of Section 4975 of the Code,
or a violation of any Similar Law applicable to the Subscriber. 
 (8)    ☐    The Subscriber
is aware of and has taken into consideration the diversification requirements of and other fiduciary duties under Section 404(a)(1) of ERISA or any other similar applicable law and have concluded that the proposed investment by the Company is a
prudent one; 
 (9)    ☐    The Subscriber has considered the investment in the Company and
has determined that, in view of such considerations, the purchase of Shares is consistent with the Subscriber’s responsibilities under ERISA or Section 4975 of the Code, including (i) whether the investment in the Company is prudent;
(ii) whether the investment or investment course of action is reasonably designed as part of that portion of the portfolio managed by the Subscriber, taking into account both the risk of loss and the opportunity for gain that could result
therefrom; (iii) whether the Shareholder’s current and anticipated liquidity needs would be met, given the limited rights to redeem or transfer the Shares; (iv) whether the investment would permit the Shareholder’s overall
portfolio to remain adequately diversified; (v) whether the investment is permitted under documents governing the Shareholder; (vi) whether the investment may result in any adverse tax consequences to the Shareholder; and (vii) the
risks associated with an investment in the Company; 
 (10)    ☐    The Subscriber (i) is
responsible for the decision to invest in the Company; (ii) is independent of the Company, the Adviser and all of their respective affiliates; (iii) has determined that each of the Company and the Adviser is not a “party in
interest” or “disqualified person” (as such terms are defined in ERISA and Section 4975 of the Code) with respect to the ERISA Shareholder; (iv) is qualified to make such investment decision and has, to the extent it deems
necessary, consulted its own investment advisors and legal counsel regarding the investment in the Company; and (v) in making its decision to invest in the Company has not relied on any advice or recommendation of the Company, the Adviser or
any of their affiliates; 
 (11)    ☐    The Subscriber acknowledges that it is intended that
the Company will not hold ERISA “plan assets” as defined by the Plan Assets Regulation. Accordingly, the Subscriber acknowledges that the Company has the authority to require the sale of any Shares if the continued holding of such Shares,
in the opinion of the Company, could result in the Company being subject to, or violating, ERISA or Section 4975 of the Code; 

(12)    ☐    The Subscriber agrees to from time to time hereafter to deliver to the Company, in
writing, all of the information that the Company may reasonably request in order to avoid being subject to, or violations of, any provision of ERISA, Section 4975 of the Code or any other laws applicable to the Shareholder, and promptly will
notify the Company, in writing, of any change in the information so furnished. 

  
 - 38 - 

			
		  	  
 SCHEDULE 2 – ERISA AND OTHER PLAN SUBSCRIBERS
ONLY

 No information that the Company, the Adviser and any persons providing marketing services on their behalf,
and their affiliates (collectively, the “Company Parties”) is providing shall be considered to be or is advice on which the Subscriber may rely for its investment decisions. The Subscriber must make its own decision, with
whatever third-party advice it may wish to obtain, and the Subscriber is not authorized to rely on any information any Company Party is providing as advice that is a basis for the Subscriber’s decisions. It is expressly confirmed, and the
Subscriber expressly acknowledges, that the Company Parties have not made and are not making a recommendation, and have not provided and are not providing investment advice of any kind whatsoever (whether impartial or otherwise), or are giving any
advice in a fiduciary capacity, in connection with the Subscriber’s decision to execute this Subscription Agreement and consummate the transactions contemplated hereby. Further, the Subscriber acknowledges the Company Parties’ financial
interests as described in the Offering Document and any related materials. 
 The undersigned agrees to notify the Company promptly of any changes in
the foregoing information which may occur prior to or following an investment in the Company. 
  

	
	  

	Name of Subscriber (please print)
	
	  

	By: Name of Fiduciary
	
	  

	By: (Name of Signer, Title/Capacity)

  

  
 - 39 - 

			
		  	  
 SCHEDULE 2 – ERISA AND OTHER PLAN SUBSCRIBERS
ONLY

 Annex A to Subscription Agreement: 

Subscriber Questionnaire for Individual Investors (including IRAs) 

1.    Subscriber as an Individual Investor. The Subscriber’s investment in the Company is being made (please
check one and any corresponding box underneath the appropriate category): 
  

	 	☐	 as an individual. 

  

	 	☐	 with the Subscriber’s spouse (please check
one)1: 

  

	 	☐	 as joint tenants with rights of survivorship. 

 

	 	☐	 as tenants in common. 

 

	 	☐	 as community property. 

 

	 	☐	 through a revocable trust established to facilitate distribution of the Subscriber’s estate and there are
     living grantor(s) and          beneficiary (ies) other than the grantors (determined by treating any person indirectly owning an interest in the trust through one or more pass-through
entities (i.e., limited liability companies treated as a partnership for income tax purposes, partnerships, S corporations and trusts) as if such person were a beneficiary). 

If the Subscriber is investing through a revocable trust, the Subscriber further represents that: (Please indicate whether the following
representations are applicable by checking the appropriate box.) 
 a. substantially all of the value of each beneficial owner’s
interest (direct or indirect) in the trust is not attributable to such trust’s interest (direct or indirect) in the Company. 

(Please check one.)  ☐  Yes    ☐  No 

 

	 	☐	 through an Individual Retirement Account (For U.S. domestic Subscribers only. Does not apply to
foreign Subscribers.)  

  

	 	☐	 through the Subscriber’s self-directed Keogh Plan Account. 

 

	 	☐	 through another self-directed employee benefit plan as defined in Title I of ERISA. 

2.    Subscriber’s Net Worth. (Please indicate whether the following representation is applicable by checking the
appropriate box.) The Subscriber has a net worth, individually or jointly with the Subscriber’s spouse, which exceeds $1,000,000 at the time of the Closing (excluding the value of the investor’s primary residence)2, or had an individual income in excess of $200,000 in each of the two most recent years or joint income with the Subscriber’s spouse of $300,000 in each of those years and the Subscriber has a
reasonable expectation of reaching the same income level in the current year. 
 (Please check
one)  ☐  Yes     ☐  No 
  

 

	1 	 Any Co-Owner other than a spouse must submit a separate subscription agreement. 

	2 	 For purposes of calculating net worth hereunder, an individual need not deduct from his or her net worth the
amount of mortgage debt secured by an excluded primary residence, except to the extent that the amount of the mortgage liability exceeds the fair value of the residence. The Subscriber must also subtract from his or her net worth any indebtedness
secured by his or her primary residence that was obtained within sixty days preceding the effective date of his or her subscription, unless such indebtedness was used to acquire the residence (in which case, the rule set forth in the preceding
sentence would govern the application of such indebtedness when calculating the Subscriber’s net worth). 

  
 - 40 - 

			
		  	  
 ANNEX A – FOR INDIVIDUAL SUBSCRIBERS
ONLY

 3.    Subscriber Status as U.S./Foreign Person. (Please read
Section 3.1 and check the box if you are described in such section. If not, check the box at 3.2.)  

3.1    ☐ For U.S. Persons. Subscriber is a natural person who is (i) a citizen of the United
States or (ii) a resident of the United States, even if not a citizen. 
 3.2    ☐ For Foreign
Persons. The Subscriber is not a person described in Section 3.1. 
 4.    Required IRS Certification.
(Please read Section 4.1 if you are a U.S. domestic Subscriber or Section 4.2 if you are a foreign Subscriber and indicate whether either representation is applicable to you by
checking the box next such statement ) 
 4.1    ☐ IRS/W-9
Certification for U.S. Subscribers. The Subscriber is a person described in Section 3.1 and has attached hereto a properly completed and duly executed copy of Form W-9 “Request for Taxpayer
Identification Number and Certification” in accordance with the instructions accompanying such form. The Subscriber agrees to promptly notify the Company and provide the Company with a new properly completed and duly executed copy of such form
in the event that such form has become obsolete and/or any information the Subscriber provided on Form W-9 becomes inaccurate. NOTE: Shareholders should consult their tax adviser regarding other forms
that may be delivered to the Company to reduce or eliminate withholding or other taxes. 
 4.2    ☐ IRS/W-8 Certification for Foreign Subscribers (i.e. persons who cannot make the certification in 3.1 above). Attached hereto is a properly completed and duly executed copy
of Form W-8BEN or such other Form W-8 applicable to the Subscriber. The Subscriber agrees to promptly notify the Company and provide the Company with a new properly
completed and duly executed copy of such form in the event that such form has become obsolete and/or any information the Subscriber provided thereon becomes inaccurate. In addition, upon request of the Company, the Subscriber will provide the
Company with a new properly completed and duly executed copy of Form W-8BEN or such other Form W-8 applicable to the Subscriber within every three calendar years of the
date on which it initially invested in the Partnership. NOTE: Shareholders should consult their tax adviser regarding other forms that may be delivered to the Company to reduce or eliminate withholding or other taxes. 

5.    Anti-Money Laundering Confirmation. (Please indicate your response to the following representation by checking
the appropriate box below. Also, please complete the separate Stone Point Anti-Money Laundering Supplement.) 

5.1    The Subscriber does not know or have any reason to suspect that (i) the monies used to fund the
Subscriber’s acquisition of Shares have been or will be derived from or related to any activities that may contravene U.S. federal, state or international laws or regulations, including but not limited to, anti-money laundering laws or
regulations; and (ii) the proceeds from the Subscriber’s acquisition of Shares will be used to finance any illegal activities. 

  
 - 41 - 

			
		  	  
 ANNEX A – FOR INDIVIDUAL SUBSCRIBERS
ONLY

 (Please check one)    I ☐ agree ☐
disagree with the above statement. 
 5.2    (Please indicate your response to the following representation by
checking “yes” or “no” in the appropriate box below.) The Subscriber represents that he is not, and is not acting on behalf of any other person in connection with this subscription that is, (i) named on the List of
Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control (OFAC) (the “SDN List”), or is otherwise subject to sanctions administered by OFAC3, (ii) a senior non-U.S. political figure or an immediate family member or close associate4 of such
figure; (iii) a non-U.S. bank that does not have a physical presence in any country (unless such bank is subject to the supervision of a banking authority that regulates an affiliate that does have a
physical presence in a country); or (iv) otherwise prohibited from investing in the Company pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules or orders (categories (i) through
(iii) together, a “Prohibited Investor”). 
 (Please check
one)    ☐ Yes     ☐ No 
 5.3    The Subscriber
agrees to provide the Company, promptly upon request, all information that the Company reasonably deems necessary or appropriate to comply with applicable anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders.

 5.4    The Subscriber consents to the disclosure to regulators and law enforcement authorities by the Company and its
affiliates and agents of such information about me as the Company reasonably deems necessary or appropriate to comply with applicable anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders. 

5.5    The Subscriber acknowledges that if, following his investment in the Company, the Company reasonably believes that
he is a Prohibited Investor or otherwise engaged in suspicious activity or he refuses to provide promptly information that the Company requests, the Company has the right or may be obligated to prohibit additional investments, segregate the assets
constituting the investment in accordance with applicable regulations or immediately require the Subscriber to withdraw from the Company. The Subscriber further acknowledges that he will have no claim against the Company or any of its affiliates or
agents for any form of damages as a result of any of the foregoing actions. 
 END OF ANNEX A 

 
  

	3 	 This information may be found online at www.treas.gov/ofac. 

	4 	 A person who is widely and publicly known to maintain an unusually close relationship with the senior non-US
political figure, including a person who is in a position to conduct substantial financial transactions on 

 behalf of
such figure. 

  
 - 42 - 

			
		  	  
 ANNEX A – FOR INDIVIDUAL SUBSCRIBERS
ONLY

 Annex B to Subscription Agreement: 

Subscriber Questionnaire for Institutional Investors 

1.    Accredited Investor Questionnaire. The Subscriber is an “accredited investor” within the meaning of Rule
501(a) of Regulation D (“Regulation D”) promulgated pursuant to Section 4(a)(2) of the Securities Act because it is (please indicate by checking the applicable boxes): 

 

	 	☐	 an employee benefit plan as defined in Title I of the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”), and (check appropriate box): 

  

	 	☐	 the investment decision is made by a plan fiduciary as defined in Section 3(21) of ERISA, which is either
a bank, savings and loan association, insurance company or registered investment adviser and the name of the plan fiduciary is                     ;
or 

  

	 	☐	 the plan has total assets in excess of $5,000,000; or 

 

	 	☐	 the plan is a self-directed plan, with investment decisions made solely by persons that are “accredited
investors” within the meaning of Regulation D. 

  

	 	☐	 a plan that is established and maintained by a state, its political subdivisions or any agency or
instrumentality of a state or its political subdivisions, for the benefit of its employees, if the plan has total assets in excess of $5,000,000. 

  

	 	☐	 an insurance company as defined in Section 2(13) of the Securities Act. 

 

	 	☐	 an investment company registered under the Investment Company Act. 

 

	 	☐	 a business development company (as defined in Section 2(a)(48) of the Investment Company Act).

  

	 	☐	 a private business development company as defined in Section 202(a)(22) of the Advisers Act.

  

	 	☐	 a Small Business Investment Company licensed by the U.S. Small Business Administration under
Section 301(c) or (d) of the Small Business Investment Act of 1958. 

  

	 	☐	 a bank (as defined in Section 3(a)(2) of the Securities Act) or a savings and loan association or other
institution (as defined in Section 3(a)(5)(A) of the Securities Act), whether acting in regard to this investment in its individual or a fiduciary capacity. 

 

	 	☐	 a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”). 

  

	 	☐	 an organization described in Section 501(c)(3) of the Code, with total assets in excess of $5,000,000.

  

	 	☐	 a corporation, a Massachusetts or similar business trust, partnership or limited liability company, not formed
for the specific purpose of acquiring Shares, with total assets in excess of $5,000,000. 

  
 - 43 - 

 

			
		  	ANNEX B – FOR INSTITUTIONAL SUBSCRIBERS ONLY

	 	☐	 a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring Shares,
whose purchase of Shares is directed by a sophisticated person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment.

  

	 	☐	 an entity in which all of the equity owners are “accredited investors” within the meaning of
Regulation D. (NOTE: This paragraph should only be checked if the Subscriber cannot establish it is an accredited investor under one of the categories described above. If the Subscriber checks this box, each equity owner of the Subscriber’s
securities must complete and submit to the Company a copy of Annex A or B, as applicable, along with an original executed signature page and may be requested to complete, execute and submit to the Company its own Subscription Agreement. If
necessary, please request additional copies of this Subscription Agreement from the Company.)  

 2.    The
Subscriber (Please check each applicable subsection below.) 
 ☐ was ☐ was not formed, organized,
reorganized, capitalized or recapitalized for the specific purpose of acquiring Shares; 
 ☐ is ☐ is not operated for the
specific purpose of acquiring Shares; 
 ☐ is ☐ is not an investment entity for which the Subscriber’s Shareholders,
partners, members or other beneficial owners can have individual discretion as to their participation or non-participation through the Subscriber in (i) the Subscriber’s purchase or Shares or
(ii) particular investments made by the Company; 
 ☐ will ☐ will not have more than 40% of the value of the
Subscriber’s total assets (or, if the Subscriber is a private investment fund with binding, unconditional capital commitments from the Subscriber’s partners or members, more than 40% of the Subscriber’s committed capital) invested in
the Company upon making this investment. 
 3.    Funds Invested by the Subscriber. (For domestic and foreign
Subscribers.) The funds invested by the Subscriber in the Company ☐ do ☐ do not (please check one) constitute the assets of (a) an employee benefit plan (as defined in Section 3(3) of ERISA) whether or not
subject to Title I of ERISA, (b) a plan described in Section 4975(e)(1) of the Code, or (c) an entity whose underlying assets include assets of a plan described in (a) or (b). 

4.    Relationship with the Placement Agent. The Subscriber ☐ is ☐ is not (please check one) an
employee benefit plan maintained by the Placement Agent(s) or its/their affiliates. 
 5.    For Insurance Company
Subscribers. (For U.S. domestic Subscribers Only. Does not apply to foreign Subscribers.) (Please indicate whether the following representation is applicable by checking the appropriate box.) The Subscriber represents
that (i) the source of the Subscriber’s funds used to purchase Shares is an “insurance company general account” within the meaning of Department of Labor Prohibited Transaction Exemption
95-60 (issued July 12, 1995) and there is no “employee benefit plan” (within the meaning of Section (3)(3) of ERISA or Section 4975(e)(1) of the Code), treating as a single plan all plans
maintained by the same employer or employee organization, with respect to which the amount of the general account reserves and liabilities for all contracts held by or on behalf of such plan, exceeds ten percent (10%) of the total reserves and
liabilities of such general account (exclusive of separate account liabilities) plus surplus, as set forth in the NAIC Annual Statement filed with the Subscriber’s state of domicile and (ii) less than 25% of the Subscriber’s general
account consists of “plan assets”. 
 (Please check one)     ☐
Yes     ☐    No ☐ Not Applicable 

  
 - 44 - 

 

			
		  	ANNEX B – FOR INSTITUTIONAL SUBSCRIBERS ONLY

 6.    Subscriber Status as U.S./Foreign Person. (Please read
Section 6.1 and check the box if you are described in such section. If not, check the box next to Section 6.2.)  

6.1    ☐ For U.S. Persons. Subscriber is (i) an entity created or organized in the U.S. that is
treated for U.S. income tax purposes as a partnership or corporation, (ii) a trust the administration of which a court within the United States is able to exercise primary supervision over or for which one or more United States persons
(including individual citizens or residents of the U.S.) have the authority to control all substantial decisions, or (iii) an estate the income of which is subject to tax in the United States. 

6.2    ☐ For Foreign Persons. The Subscriber is not a Person described in Section 6.1. 

7.    Required IRS Certification. (Please read Section 7.1 if you are a U.S. domestic Subscriber and Section 7.2
if you are a foreign Subscriber and indicate whether either representation is applicable to you by checking the box next such statement.) 

7.1    ☐ IRS/W-9 Certification for U.S. Subscribers. The
Subscriber is a person of the type described in Section 6.1 and has attached hereto a properly completed and duly executed copy of Form W-9 “Request for Taxpayer Identification Number and
Certification” in accordance with the instructions accompanying such form. The Subscriber agrees to promptly notify the Company and provide the Company with a new properly completed and duly executed copy of such form in the event that such
form has become obsolete and/or any information the Subscriber provided on Form W-9 becomes inaccurate. NOTE: Shareholders should consult their tax adviser regarding other forms that may be delivered to
the Company to reduce or eliminate withholding or other taxes. 
 7.2    ☐ IRS/W-8 Certification for Foreign Subscribers (i.e. persons who cannot make the certification in Section 6.1 above). Attached hereto is a properly
completed and duly executed copy of Form W-8BEN-E or such other Form W-8 applicable to the Subscriber. The Subscriber agrees to
promptly notify the Company and provide the Company with a new properly completed and duly executed copy of such form in the event that such form has become obsolete and/or any information the Subscriber provided thereon becomes inaccurate. In
addition, upon request of the Company, the Subscriber will provide the Company with a new properly completed and duly executed copy of Form W-8BEN-E or such other Form W-8 applicable to the Subscriber within every three calendar years of the date on which it initially invested in the Company. NOTE: Shareholders should consult their tax adviser regarding other forms that may
be delivered to the Company to reduce or eliminate withholding or other taxes.  
 8.    U.S. Patriot Act
Confirmation. 
 8.1    (Please indicate your response to the representation by checking in the appropriate
box below Also, please complete Exhibit A.) The Subscriber does not know or have any reason to suspect that (a) the monies used to fund the Subscriber’s acquisition of Shares have been or will be derived from or related to any illegal
activities, including but not limited to, money laundering activities and (b) the proceeds from the Subscriber’s acquisition of Shares will be used to finance any illegal activities. 

(Please check one)    I ☐ agree ☐ disagree with the above statement. 

  
 - 45 - 

 

			
		  	ANNEX B – FOR INSTITUTIONAL SUBSCRIBERS ONLY

 8.2    (Please check either 8.2.1 or 8.2.2) 

8.2.1    ☐   The Subscriber is NOT acting on behalf of one or more clients in connection with this
subscription and neither the Subscriber nor its authorized contact persons are (a) named on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control (OFAC) (the
“SDN List”)1, (b) residing in or organized in a country of, or owned or controlled by a government of a country subject to sanctions administered by OFAC,2 (c) a non-U.S. shell bank3 or providing banking services indirectly to a non-US shell bank, (d) a senior non-U.S. political figure or an
immediate family member or close associate4 of such figure or (e) otherwise prohibited from investing in the Company pursuant to applicable U.S. anti-money laundering, anti-terrorist and
asset control laws, regulations, rules or orders (categories (a) through (e) together, “Prohibited Investors”). 

- OR - 

8.2.2    ☐   If the Subscriber is acting on behalf of one or more clients in connection with this
subscription, the Subscriber is a financial institution subject to the anti-money laundering program requirements of the USA Patriot Act, and Subscriber represents that it has (a) implemented a customer identification program as required under
Section 326 of the Patriot Act and the regulations promulgated thereunder, (b) conducted the required due diligence on client(s) on whose behalf the Subscriber is acting, and (c) determined that such client(s) are NOT Prohibited
Investors. 
 8.3    The Subscriber agrees to provide the Company, promptly upon request, all information that the
Company reasonably deems necessary or appropriate to comply with applicable anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders. 

8.4    The Subscriber consents to the disclosure to regulators and law enforcement authorities by the Company and its
affiliates and agents of such information about the Subscriber and its constituents as the Company reasonably deems necessary or appropriate to comply with applicable anti-money laundering, anti-terrorist and asset control laws, regulations, rules
and orders. 
 8.5    The Subscriber acknowledges that if, following its investment in the Company, the Company
reasonably believes that the Subscriber (or its clients) are a Prohibited Investor or are otherwise engaged in suspicious activity or refuse to provide promptly information that the Company requests, the Company has the right or may be obligated to
prohibit additional investments, segregate the assets constituting the investment in accordance with applicable regulations or immediately require the Subscriber to withdraw from the Company. The Subscriber further acknowledges that it will have no
claim against the Company or any of its affiliates or agents for any form of damages as a result of any of the foregoing actions. 
  

 

	1 	 This information may be found online at www.treas.gov/ofac. 

	2 	 This information may be found online at www.treas.gov/ofac. 

	3	 A non-US shell bank is a non-US bank without a physical presence in its country of domicile/ incorporation.

	4 	 A person who is widely and publicly known to maintain an unusually close relationship with the senior non-US political figure, including a person who is in a position to conduct substantial financial transactions on behalf of such figure. 

	5 	 Any U.S. state or political subdivision of a U.S. state, including: 

 

	 	(i)	 Any agency, authority, or instrumentality of the U.S. state or political subdivision; 

  
 - 46 - 

 

			
		  	ANNEX B – FOR INSTITUTIONAL SUBSCRIBERS ONLY

 9.    Pay To Play Matters. 

9.1     If the Subscriber is an entity substantially owned by a “government entity” (e.g., a single investor
vehicle) and the investment decisions of such entity are made or directed by such government entity, please provide the name of the government entity: 
  

                       
                                         
                 
 9.2    Please
note that, if the Subscriber enters the name of a government entity in Section 9.1, the Company will treat the Subscriber as if it were the government entity for purposes of Rule 206(4)-5 of the
Investment Advisers Act (the “Pay to Play Rule”). 
 9.3    If the Subscriber is
(i) a government entity, (ii) acting as trustee, custodian or nominee for a beneficial owner that is a government entity, or (iii) an entity described in Section 9.1, the Subscriber hereby certifies that: 

☐     other than the Pay to Play Rule, no “pay to play” or other similar compliance
obligations would be imposed on the Company, the Adviser or their affiliates in connection with the Subscriber’s subscription; 
 -
OR - 
 ☐     If the Subscriber cannot make the above certification, indicate in the space
below all other “pay to play” laws, rules or guidelines, or lobbyist disclosure laws or rules, the Company, the Adviser or their affiliates, employees or Placement Agents would be subject to in connection with the Subscriber’s
subscription: 
  
  

 
  

 
  

END OF ANNEX B 
  

 

	(ii)	 A pool of assets sponsored or established by the U.S. state or political subdivision or any agency, authority
or instrumentality thereof, including, but not limited to a “defined benefit plan” as defined in section 414(j) of the Internal Revenue Code (26 U.S.C. 414(j)), or a U.S. state general fund; 

	(iii)	 Any participant-directed investment program or plan sponsored or established by a U.S. state or political
subdivision or any agency, authority or instrumentality thereof, including, but not limited to, a “qualified tuition plan” authorized by section 529 of the Internal Revenue Code (26 U.S.C. 529), a retirement plan authorized by section
403(b) or 457 of the Internal Revenue Code (26 U.S.C. 403(b) or 457), or any similar program or plan; and 

	(iv)	 Officers, agents, or employees of the U.S. state or political subdivision or any agency, authority or
instrumentality thereof, acting in their official capacity. 

  
 - 47 - 

 

			
		  	ANNEX B – FOR INSTITUTIONAL SUBSCRIBERS ONLY

 Exhibit A: 

FOREIGN DUE DILIGENCE QUESTIONNAIRE 
  

			
	Subscriber Name:	 	  

		
	Custodian:	 	
                    

  
  

List all nominal and beneficial owners of the account holding an interest therein of 25% or greater: 

 
  
  

 
  

 
  

 
  

 
  

					
	1.	 	Individual subscribing in his/her own name acting on his/her own behalf ☐ Check Box
		
	2.	 	Individual subscribing on behalf of other persons ☐ Check Box
			
		 	List of other persons:	 	                                     
                       
			
		 		 	                                     
                       
			
		 		 	                                     
                       
			
		 		 	                                     
                       
			
		 		 	                                     
                       
		
	3.	 	Closely held entity     ☐  Check Box

 List persons who exercise control over subscriber (either because of signing authority or significant economic interest): 

 
  
  

 
  

 
  

 
  

			
	4.	 	Trust     ☐  Check Box

 List persons who control funds in trust: 

 
  

 
  

 
  

 
  

 
 Attach an Investor Profile Form – Individual
Account for all individuals listed above. 
  
  

Subscriber Signature 
 I hereby certify the information
above and any information provided in connection herewith is true and correct. 
  

					
	Name:                                     
                        	 	Signature:                                    
                         	 	Date:                                     

  
 - 48 - 

 

			
		  	EXHIBIT A – FOREIGN DUE DILIGENCE QUESTIONNAIRE

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