Bain Capital Credit, LP, a Delaware limited partnership wholly owned by Bain Capital, LP (“Bain Capital”), and its subsidiaries provide investment advisory services across a diverse range of credit strategies. Collectively, Bain Capital Credit, LP and its subsidiaries are referred to as “Bain Capital Credit.” 0F 1 Bain Capital Credit provides investment advisory services to pooled investment vehicles and single limited partner partnerships that are exempt from registration under the Investment Company Act of 1940 (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933 (the “Securities Act” and such investment vehicles and partnerships are referred to as “Bain Capital Credit Partnerships”). Bain Capital Credit also provides collateral management services to entities structured as collateralized loan obligations (“CLOs”) and investment management services to clients in separately managed accounts (“Separate Account Clients”), which may be structured in various forms. Additionally, Bain Capital Credit provides advisory or sub-advisory services to a registered investment company and business development companies (“1940 Act Funds”).
1F 2 The Bain Capital Credit Partnerships, the CLOs and the 1940 Act Funds are collectively referred to as “Bain Capital Credit Funds.” The Bain Capital Credit Funds and Separate Account Clients are referred to collectively as “Bain Capital Credit Clients.” Bain Capital Credit’s investment advisory activities include providing investment advice to Bain Capital Credit Clients that have four main strategies: bank loan and multi-sector credit, structured credit, mezzanine & junior capital and global direct lending, and special situations investing. As the investment manager, investment adviser or sub-adviser to each Bain Capital Credit Client, Bain Capital Credit (along with, in the case of each Bain Capital Credit Partnership, the general partner (“General Partner”) 2F 3 of such Bain Capital Credit Partnership), identifies investment opportunities for, and participates in the acquisition, management, monitoring and disposition of investments of, each Bain Capital Credit Client. Bain Capital Credit generally uses fundamental credit analysis to identify attractive investment opportunities and seeks strong risk adjusted returns, primarily in credit products and fixed-income investments. Bain Capital Credit provides investment advice regarding investments in performing and distressed bank loans, high yield bonds, investment grade bonds, mortgages, non-performing loans, mezzanine & junior capital, structured products, credit based securities, swap transactions (including total rate of return swaps and credit default swaps), derivative instruments, equities, short sales, currency hedging transactions, securities lending arrangements, repurchase agreements, investments as a limited partner in partnerships, and other assets. Bain Capital Credit Clients can use leverage directly and/or indirectly. Use of leverage will increase the volatility of levered investments. 1 References to Bain Capital Credit include the Special Situations business unit. 2 The 1940 Act Funds carry additional regulatory obligations and restrictions. These restrictions may not apply to other Bain Capital Credit Clients. 3 References to General Partner in relation to carried interest for purposes of this document include any Special Limited Partner for applicable Bain Capital Credit Funds. Bain Capital Credit provides investment advisory services to each Bain Capital Credit Client pursuant to separate advisory, investment management, or collateral management agreements (each, an “Advisory Agreement”) or separate sub-advisory agreements (each, a “Sub-Advisory Agreement”). Bain Capital Credit provides investment advisory services to each of the Bain Capital Credit Partnerships pursuant to the Advisory Agreements. Investment advice is provided by Bain Capital Credit directly to Bain Capital Credit Partnerships, subject to the direction and control of the affiliated General Partner of such Bain Capital Credit Partnership and not individually to investors in the Bain Capital Credit Partnerships. Any restrictions on investments in certain types of securities are established by the General Partner of the applicable Bain Capital Credit Partnership, and set forth in the documentation received by each limited partner prior to investment in such Bain Capital Credit Partnership. Once invested in a Bain Capital Credit Partnership, investors generally cannot impose restrictions on the types of securities in which such Bain Capital Credit Partnership may invest. Bain Capital Credit provides investment management services to each Separate Account Client in accordance with the terms and conditions of the Advisory Agreement. The terms of these documents, including any restrictions on investments in certain types of securities, are generally established

at the time of the formation of the applicable separate account and are the result of negotiations with the applicable Separate Account Client. The Advisory Agreement of a Separate Account Client may be changed by such Separate Account Client only to the extent permitted by the applicable Advisory Agreement. Bain Capital Credit provides collateral management services to each CLO in accordance with the terms and conditions of the applicable collateral management agreement, indenture, and other related documents of each such CLO. The terms of the Advisory Agreements and other related documents of each CLO were generally established at the time of the formation of the applicable CLO and are the result of negotiations with certain potential investors in the applicable CLO. With respect to the 1940 Act Funds, Bain Capital Credit provides investment advisory services in accordance with the relevant 1940 Act Fund’s investment policies and restrictions, as stated in such 1940 Act Fund’s then-current prospectus, statement of additional information, and/or other public filings. Bain Capital Credit has advisory subsidiaries based in the United States and other countries, including: o BCSF Advisors, LP, a Delaware limited partnership and SEC registered investment adviser, which provides advisory and sub-advisory services to registered investment companies, including business development companies; o Bain Capital Credit U.S. CLO Manager, LLC, a Delaware limited liability company and relying advisor to Bain Capital Credit, LP, which provides investment advisory services to investment vehicles, primarily CLOs; o Bain Capital Credit CLO Advisors, LP, a Delaware limited partnership and relying advisor to Bain Capital Credit, LP, which provides investment advisory services to CLOs; o Bain Capital Credit U.S. CLO Manager II, LP, a Delaware limited partnership and relying advisor to Bain Capital Credit, LP, which provides investment advisory services to CLOs; o Bain Capital Credit, Ltd., a UK-based and FCA registered firm, which provides collateral management services to CLOs; o Bain Capital Investments (Ireland) Limited, based in Dublin, a Central Bank of Ireland authorized firm and an Alternative Investment Fund Manager (“AIFM”); o Bain Capital Credit (Australia), Pty. Ltd., an Australian Securities and Investments Commission licensed firm, which provides consulting advice to Bain Capital Credit; o Bain Capital Credit (Asia), Limited, a Hong Kong-based and Securities & Futures Commission licensed firm, which provides consulting advice to Bain Capital Credit; and o Bain Capital (Singapore) PTE Ltd, a Monetary Authority of Singapore licensed firm, which provides consulting advice to Bain Capital Credit.
3F 4 In addition, Bain Capital Credit is affiliated with Bain Capital Investments (Europe), Ltd., a FCA registered firm and an AIFM.
4F 5 Bain Capital Credit also has other affiliated entities, including asset servicers based in Europe and Asia, joint ventures based in Asia, and certain vehicles that – from time to time – will engage in proprietary trades and/or other activities for its benefit. Bain Capital Credit, LP provides consulting services to Bain Capital Credit, Ltd., in connection with the latter’s role as collateral manager to certain CLOs. In certain limited circumstances, Bain Capital Credit acts as agent for such facilities. Bain Capital Credit, LP also provides portfolio management services to Bain Capital Investments (Europe), Ltd., and Bain Capital Investments (Ireland), Ltd. in connection with their roles as an AIFM. In addition, Bain Capital Credit, LP provides certain resources and services to other subsidiaries, including BCSF Advisors, LP and Bain Capital Credit CLO Advisors, LP. Lastly, Bain Capital Credit U.S. CLO Manager, LLC, and Bain Capital Credit U.S. CLO Manager II, LP delegate directly or indirectly activities related to the business of acting as a collateral manager or sponsor of CLOs to Bain Capital Credit, LP and/or Bain Capital Credit, Ltd. Bain Capital Credit has been in business since 1997. Bain Capital Credit has advisory offices located in Boston, New York, Chicago, London, Melbourne, Sydney, Dublin, Madrid, Hong Kong, Guangzhou, Seoul, Singapore, Mumbai, and Lisbon. As of January 1, 2023, Bain Capital Credit and its subsidiaries manage approximately $59,743,569,048 client assets, which are predominantly managed on a discretionary basis.
5F 4 This list does not represent all of Bain Capital Credit’s subsidiaries or affiliates. 5 For purposes of this Form ADV, references to Bain Capital Credit subsidiaries should be read to include Bain Capital Investments (Europe), Ltd. 6 This AUM figure includes all vehicles managed by Bain Capital Credit, LP and its subsidiaries (including those that file separate Form ADVs), and includes credit vehicles managed by Bain Capital Investments (Europe), Ltd.