- Company to Host Conference Call and Webcast at 10:00 AM ET Today -

NEW YORK and LONDON, Aug. 27, 2026 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) (the "Company") today announced financial results for the second quarter ended June 30, 2026.

"The recovery we saw across CLO equity markets this quarter came through clearly in our results, with net asset value strengthening as spreads tightened across the capital structure," said Indranil Basu, Chief Executive Officer of Pearl Diver Credit Company. "We were able to take advantage of that backdrop to execute a larger refinancing programme and further reduce the cost of debt. While we are not calling this a turn in the cycle, we are more constructive about the opportunities we see ahead in CLO equity. Moving forward, we will continue to execute on our disciplined investment strategy in order to continue to create value for our shareholders."

Second Quarter 2026 Highlights

• Net asset value per share of common stock was $11.15 as of June 30, 2026, compared to $10.48 per share as of March 31, 2026.
• GAAP net income for the quarter was $8.5 million, or $1.23 per share, compared to a net loss of $22.5 million, or $3.28 per share in the preceding quarter.
• Net investment income for the quarter was $1.9 million, or $0.28 per share, compared to $2.6 million, or $0.39 per share in the preceding quarter.
• Investment income for the quarter was $4.2 million, or $0.60 per share, compared to $4.8 million, or $0.70 per share in the prior quarter.
• Expenses for the quarter were $2.2 million, or $0.32 per share, compared to $2.1 million, or $0.31 per share in the preceding quarter.
• Net change in unrealized appreciation on investments was $6.7 million, or $0.97 per share, compared to unrealized depreciation of $25.1 million, or $3.67 per share, in the preceding quarter.
• Recurring cash flows from CLO investments were $8.8 million, or $1.27 per share, compared to $10.4 million, or $1.53 per share in the preceding quarter.
• Issued 65,959 shares of common stock via our at-the-market offering, for net proceeds of approximately $0.7 million.
• The Company had leverage of $38.4 million, or 32.9% of total assets, as of June 30, 2026, compared to leverage of $39.5 million, or 35.0% of total assets, as of March 31, 2026.
• As of June 30, 2026:
  • The weighted average effective yield of the Company's collateralized loan obligation ("CLO") portfolio, based on amortized cost, was 10.33%, compared to 11.27% as of March 31, 2026.
  • 99.9% of CLOs in the portfolio have reinvestment end dates from 2026 through 2030, resulting in upside potential as CLO managers can take advantage of market volatility to reinvest in loans at favorable prices.
• As of June 30, 2026, on a look-through basis, and based on the most recent trustee reports received by such date:
  • The Company, through its CLO investments, had indirect exposure to 1,380 unique corporate obligors and over 1,800 underlying loans, totaling $26.9 billion.
  • The largest look-through obligor represented 0.7% of the loans underlying the Company's CLO equity portfolio.
  • The top ten largest look-through obligors together represented 4.2% of the loans underlying the Company's CLO portfolio.

Third Quarter 2026 Update

• Net asset value per share of common stock was $10.96 as of July 31, 2026.
• Recurring cash flows from CLO investments through August 15, 2026 were $7.3 million, or $1.05 per share.
• Declared monthly dividends of $0.13 per share of common stock for September, October, and November 2026.

Conference Call
As previously announced, Pearl Diver Credit Company Inc. will host a conference call to discuss its second quarter 2026 results today, August 27, 2026 at 10:00 a.m. Eastern Time / 3:00pm UK time. The conference call can be accessed by dialing 1-877-407-9208 (US callers) or 1-201-493-6784 (international callers) and asking for the Pearl Diver Credit Company Inc. Second Quarter 2026 Earnings Call. A live audio webcast of the conference call will be available on the website at https://pearldivercreditcompany.com.

A replay of the conference call will be available within two hours of the conclusion of the call and can be accessed online on the website.

About Pearl Diver Credit Company Inc.
Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) is an externally managed, non-diversified, closed-end management investment company. Its primary investment objective is to maximize its portfolio's total return, with a secondary objective of generating high current income. The Company seeks to achieve these objectives by investing primarily in equity and junior debt tranches of CLOs collateralized by portfolios of sub-investment grade, senior secured floating-rate debt issued by a large number of distinct US companies across several industry sectors. The Company is externally managed by Pearl Diver Capital LLP. For more information, visit www.pearldivercreditcompany.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Investor Contact:
PR.IR@Pearldivercap.com
UK: +44 (0)20 3967 8032
US: +1 617 872 0945

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SOURCE Pearl Diver Credit Company Inc.