KKR Credit Advisors US LLC

Item 5 – Fees and Compensation above, KKR Credit Funds, Other Clients and KKR Credit will bear an
allocable portion of the premiums and fees for such policies, including any expenses or fees of insurance
brokers. Director and Officer (D&O) insurance premiums are allocated to KKR Funds and Other Clients
on a pro-rata basis based on NAV. As a result, KKR Credit Funds or Other Clients with larger NAVs may
bear a greater portion of such premiums than KKR Credit Funds or Other Clients. KKR Credit believes that
employing insurance policies covering multiple parties enables KKR Credit to achieve lower overall

premiums and fees for KKR Credit Funds, Other Clients and KKR Credit and its affiliates. Such policies
typically carry a per occurrence deductible, which would be expected to be borne by the relevant insured
person(s) making a claim under the policy and not by other insured persons. Such insurance policies also
typically have a maximum amount that will be paid to insured person(s) making any claim, and, as such, it
is possible that a KKR Credit Fund or Other Client will have insufficient coverage to the extent that a claim
by another KKR Credit Fund, Other Client, KKR Credit and/or one or more of its affiliates is paid for their
insurance claims up to such maximum amount. In addition, because insurance policies maintained by KKR
Credit cover multiple parties, if a substantial claim were to be made against one or several covered entities,
including KKR Credit or its affiliates, there could be a resulting increase in insurance premiums for all
parties covered under the applicable insurance policy.

Absence of Recourse; Indemnification

KKR Credit Fund or Other Client governing documents include exculpation and indemnification provisions
that will limit the circumstances under which the relevant KKR Credit GP, KKR Credit and their respective
affiliates and other persons can be held liable to the KKR Credit Fund or Other Client. Additionally, certain
service providers and other consultants to KKR Credit, KKR Credit Funds or Other Clients, the KKR Credit
GPs, their affiliates, agents and other persons, including, without limitation, the members of the advisory
committees of the KKR Credit Funds, KKR Credit investment executives, depositary and placement agents
and finders, are generally entitled to exculpation and indemnification (in certain cases, on terms more
favorable to them than those available to indemnitees, generally). The assets of a KKR Credit Fund or Other
Client, including the unused capital commitments of their investors, will be available to satisfy these
indemnification obligations and investors are often required under governing fund documents to return
distributions to satisfy such obligations, subject to certain limitations set forth in the KKR Credit or Other
Client governing documents. Such obligations will generally survive the dissolution of the relevant KKR
Credit Fund or Other Client.

Recourse to a KKR Credit Fund’s or Other Client’s Assets

The assets of KKR Credit Funds and Other Clients, including unused capital commitments, any investments
made by the KKR Credit Fund or Other Client and any capital held by the KKR Credit Fund or Other
Client, are available to satisfy all liabilities and other obligations of such KKR Credit Fund or Other Client,
for any proper purpose relating to the activities of the KKR Credit Fund or Other Client, including, without
limitation, with respect to investments, payment of KKR Credit Fund or Other Client expenses,
indemnification obligations, making distributions to limited partners and, where provided by operative fund
documents, the payment of amounts to withdrawing limited partners. If a KKR Credit Fund or Other Client
becomes subject to a liability, parties seeking to have the liability satisfied could have recourse to a KKR
Credit Fund’s or Other Client’s assets generally and might not be limited to any particular asset, such as
the asset comprising the investment giving rise to the liability. In such situations, under the governing
documents of KKR Credit Funds or Other Clients, investors can be required to make additional capital
contributions, including to recontribute funds previously distributed by a KKR Credit Fund or Other Client,
in each case subject to the specific limitations set forth in their governing documents.

A KKR Credit Fund’s or Other Client’s financing arrangements, including subscription facilities obtained
by a KKR Credit Fund or Other Client, specific borrowings made thereunder, and guarantees and other
credit support obligations of a KKR Credit Fund or Other Client, are often structured generally as a
portfolio financing where all or certain investments provide security for such financing on a cross-
collateralized basis and multiple investments are subject to the risk of loss in the event of a default. There
likely will be circumstances in which investors have varying sharing percentages with respect to certain of
a KKR Credit Fund’s or Other Client’s investments, including as a result of participation in subsequent
closings, the exercise of excuse or exclusion rights or otherwise and could have sharing percentages

(including in the aggregate) in investments or otherwise with respect to investment proceeds generated by
a KKR Credit Fund’s or Other Client’s investments to which third parties have recourse in respect of a
KKR Credit Fund or Other Client liability that are higher or lower than such investors’ sharing percentages
in the investment giving rise to the liability. As a result of the potential recourse obligations of a KKR
Credit Fund or Other Client as described above, liabilities relating to investments in which an investor has
for example, a small sharing percentage, could adversely impact investments in which such investor holds
a greater sharing percentage. In addition, where co-investors or other third-party investors participate in an
...

Item 7.          Types of Clients

KKR Credit provides investment management, advisory and administrative services, as described above in
response to Item 4 – Advisory Business, to the KKR Credit Funds and Other Clients. With limited exceptions
(including, currently, with respect to KKR Credit Funds established as RICs and Manager Co-investment
Vehicle), investment in KKR Credit Funds is generally only available to institutional investors and certain
high net worth investors that are “accredited investors” and “qualified purchasers” or in the case of
Employees, “knowledgeable employees”, within the meaning of the Securities Act and the Investment
Company Act, as applicable. KKR Credit Funds or Other Clients, from time to time, have a specified
minimum investment amount as set forth in their offering materials, disclosure documents and/or governing
documents. These minimum amounts generally are subject to discretion, on the part of KKR Credit or the
relevant KKR Credit GP, to permit investments of a smaller amount generally or with respect to any
investor. Investment minimums and the circumstances under which they are waived are set forth in their
respective offering materials, disclosure documents and/or governing documents.

A broad range of U.S. and non-U.S. institutional investors, including, among others, governmental and
corporate pension and profit-sharing plans, endowments and foundations, insurance companies, financial
institutions, sovereign wealth funds, funds of funds, private wealth and other third party distribution
platforms and certain high net worth individuals and family offices, invest in KKR Credit Funds and Other
Clients. Additionally, Employees and other persons associated with KKR Credit and/or its affiliates and
portfolio companies, including, for example, current or former portfolio company executives, and certain
KKR proprietary entities, make capital contributions to KKR Credit Funds, generally though special

purpose vehicles set up as feeder funds that invest in those KKR Credit Fund, or alongside KKR Credit
Funds, including, in particular, Manager Co-investment Vehicles.

Some of these investment vehicles accept qualified individual (non-institutional) investors primarily
sourced through third party brokerage firms, banks, third-party feeder providers, and independent
investment advisors (“K-Series Vehicles”). Certain of the K-Series Vehicles advised by KKR Credit
affiliates have been structured as RICs, BDCs, or as holding company conglomerates that are structured
and operated in reliance on exclusions from the definition of “investment company” under the Investment
Company Act. Given the large number of investors, U.S. K-Series Vehicles are typically registered under
the Securities Exchange Act of 1934, as amended.