NOTICE FROM THE ISSUER BY ELECTRONIC TRANSMISSION OF OPTIONAL REDEMPTION EFFECTED IN PART THROUGH REFINANCING

To: Noteholders of each Class of Notes (as defined below)

Deutsche Trustee Company Limited (as “Trustee”) Winchester House 1 Great Winchester Street EC2N 2DB United Kingdom Attention: Managing Director – Aurium III Email: [email protected]

Spire Partners LLP (as “Collateral Manager”) 1st Floor 24 Grosvenor Street London W1K 4QN United Kingdom Attention: Philip Bennett-Britton; Oliver Drummond Smith; Ian Kavanagh Email: [email protected]; [email protected]; [email protected] Tel: +44 20 7042 6303; +44 20 7042 6304; +44 20 7042 6306

J.P. Morgan AG (as “Hedge Counterparty”) Taunustor 1 60310 Frankfurt am Main Germany Attention: Legal Department

with a copy to:

J.P. Morgan Securities plc 25 Bank Street London E14 5JP United Kingdom Attention: Legal Department – Derivatives

Moody’s Investors Service, Ltd. (as a “Rating Agency”) One Canary Wharf London E14 5FA United Kingdom Attention: CDO Monitoring Team Facsimile: +44 20 7772 5400 Email: [email protected]

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S&P Global Ratings (as a “Rating Agency”) , 11th Floor Canary Wharf London E14 5LH United Kingdom Attention: European Surveillance (Structured Credit) Fax: +44 20 7176 7565 Email: [email protected]

19 September 2019

AURIUM CLO III DESIGNATED ACTIVITY COMPANY (a designated activity company limited by shares and incorporated under the laws of Ireland with a registered number of 588086 and having its registered office at 32 Molesworth Street, Dublin 2, Ireland)

€220,000,000 Class A Senior Secured Floating Rate Notes due 2030 (the “Class A Notes”) (Regulation S ISIN: Class A CM Voting Notes: XS1582972649 / Class A CM Non-Voting Exchangeable Notes: XS1582972722 / Class A CM Non-Voting Notes: XS1582972995 Rule 144A ISIN: Class A CM Voting Notes: XS1582973027 / Class A CM Non-Voting Exchangeable Notes: XS1582973290 / Class A CM Non-Voting Notes: XS1582973373)

€41,500,000 Class B-1 Senior Secured Floating Rate Notes due 2030 (the “Class B-1 Notes”) (Regulation S ISIN: Class B-1 CM Voting Notes: XS1582974264 / Class B-1 CM Non-Voting Exchangeable Notes: XS1582973456 / Class B-1 CM Non-Voting Notes: XS1582974421 Rule 144A ISIN: Class B-1 CM Voting Notes: XS1582974777 / Class B-1 CM Non-Voting Exchangeable Notes: XS1582974934 / Class B-1 CM Non-Voting Notes: XS1582973530)

€10,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2030 (the “Class B-2 Notes”) (Regulation S ISIN: Class B-2 CM Voting Notes: XS1582973613/ Class B-2 CM Non-Voting Exchangeable Notes: XS1582975238 / Class B-2 CM Non-Voting Notes: XS1582973704 Rule 144A ISIN: Class B-2 CM Voting Notes: XS1582973886 / Class B-2 CM Non-Voting Exchangeable Notes: XS1582975311 / Class B-2 CM Non-Voting Notes: XS1582973969)

€25,500,000 Class C Senior Secured Deferrable Floating Rate Notes due 2030 (the “Class C Notes”) (Regulation S ISIN: Class C CM Voting Notes: XS1582974009 / Class C CM Non-Voting Exchangeable Notes: XS1582975667 / Class C CM Non-Voting Notes: XS1582974181 Rule 144A ISIN: Class C CM Voting Notes: XS1582974348 / Class C CM Non-Voting Exchangeable Notes: XS158297574 1/ Class C CM Non-Voting Notes: XS1582976046)

€18,000,000 Class D Senior Secured Deferrable Floating Rate Notes due 2030 (the “Class D Notes”) (Regulation S ISIN: Class D CM Voting Notes: XS1582974694 / Class D CM Non-Voting Exchangeable Notes: XS1582974850 / Class D CM Non-Voting Notes: XS1582976392 Rule 144A ISIN: Class D CM Voting Notes: XS1582975071 / Class D CM Non-Voting Exchangeable Notes: XS1582975154 / Class D CM Non-Voting Notes: XS1582976475)

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€22,500,000 Class E Senior Secured Deferrable Floating Rate Notes due 2030 (the “Class E Notes”) (Regulation S ISIN: XS1582975402; Rule 144A ISIN: XS1582976558)

€10,500,000 Class F Senior Secured Deferrable Floating Rate Notes due 2030 (the “Class F Notes”) (Regulation S ISIN: XS1582976632; Rule 144A ISIN: XS1582975584)

€39,350,000 Subordinated Notes due 2030 (the “Subordinated Notes”) (Regulation S ISIN: XS1582975824; Rule 144A ISIN: XS1582976129)

(together, the “Notes”)

(a) We refer to the trust deed dated 12 May 2017 (the “Trust Deed”) made between, amongst others, ourselves, the Trustee and Spire Partners LLP as collateral manager (the “Collateral Manager”), including the conditions of the Notes set out in Schedule 3 (Conditions of the Notes) to the Trust Deed (the “Conditions”) pursuant to which the Notes were constituted on the terms and subject to the conditions contained therein.

(b) Capitalised terms used and not otherwise defined herein have the meanings given to such terms in the Trust Deed (including the Conditions).

(c) We hereby notify you that the Subordinated Noteholders (acting by way of Ordinary Resolution) have exercised their right pursuant to and in accordance with Condition 7(b)(ii) (Optional Redemption in Part – Subordinated Noteholders/Collateral Manager), to direct the Issuer to effect a redemption of the Rated Notes in part by Class, by redeeming in full the Class A Notes, the Class B-1 Notes and the Class B-2 Notes at the applicable Redemption Prices.

(d) Pursuant to Condition 7(b)(iv) (Terms and Conditions of an Optional Redemption), Aurium CLO III Designated Activity Company (in its capacity as Issuer) hereby notifies each Noteholder that, subject to satisfaction of the conditions set out in Condition 7 (Redemption and Purchase), the Issuer will redeem in full each of the Class A Notes, the Class B-1 Notes and the Class B-2 Notes on 16 October 2019 (the “Redemption Date”) solely from Refinancing Proceeds at each of the following applicable Redemption Prices:

(i) Class A Notes – 100 per cent.;

(ii) Class B-1 Notes – 100 per cent.; and

(iii) Class B-2 Notes – 100 per cent.

of the Principal Amount Outstanding thereof, in each case plus accrued and unpaid interest thereon.

(e) The redemption of each Class of Notes listed in paragraph (d) above is subject to: (i) satisfaction of the conditions set out in Condition 7 (Redemption and Purchase); and (ii) the prior written consent of the Subordinated Noteholders (acting by way of

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Ordinary Resolution) to the terms of any Refinancing and the identity of any financial institutions acting as lenders or purchasers thereunder pursuant to Condition 7(b)(v) (Optional Redemption effected in Whole or in Part through Refinancing). Noteholders should note that there is no guarantee that such conditions will be satisfied on or prior to the Redemption Date. For the avoidance of any doubt, the failure to satisfy one or more conditions in respect of the redemption of any one or more of the Classes of Notes listed in paragraph (d) above will result in the applicable Class or Classes of Notes not being redeemed, but will not invalidate the redemption of any other Classes of Notes listed in paragraph (3) above for which the conditions have been satisfied.

(f) None of Barclays Bank PLC including acting through an affiliate thereof, the Trustee, the Issuer or the Collateral Manager is liable to any party for any failure to obtain a Refinancing.

(g) Each of Clause 26 (Limited Recourse and Non-Petition) and Clause 34 (Governing Law and Jurisdiction) of the Trust Deed are incorporated in this notice mutatis mutandis.

(h) No person has been authorised to give information, or to make any representation in connection therewith, other than contained herein. The delivery of this notice at any time does not imply that the information contained within it is correct as at any time subsequent to its date.

This Notice is issued by:

AURIUM CLO III DESIGNATED ACTIVITY COMPANY 32 Molesworth Street Dublin 2 Ireland

Date: 19 September 2019

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