Note 1. Organization

In this report, the terms the “Company”, “we”, “us”, and “our” mean Diameter Credit Company and its subsidiaries unless the context specifically requires otherwise. Diameter Credit Company is a Delaware statutory trust formed on February 24, 2022. The Company is a non-diversified, closed-end management investment company that was formed primarily to lend to, and selectively invest in, middle-market companies in the United States. The Company has elected to be regulated as a business development company (“BDC”) under the 1940 Act. In addition, for tax purposes, the Company has elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (together with the rules and regulations promulgated thereunder, the “Code”). The Company is externally managed by Diameter Principal Finance LLC (the “Adviser”), a Delaware limited liability company and an affiliate of Diameter Capital Partners LP (“Diameter”). Both the Adviser and Diameter are investment advisers that are registered with the SEC under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). The Company commenced operations on December 20, 2023, in connection with the issuance of 500 shares of the Company’s 12.0% Series A cumulative preferred shares, par value $0.001 per share (“Series A Preferred Shares”). No income was earned and no expenses were incurred by the Company prior to the Company’s commencement of operations.

The Company is conducting a private offering (the “Private Offering”) of its Common Shares of beneficial interest, par value $0.001 per share (the “Common Shares”) to accredited investors, as defined in Regulation D under the Securities Act in reliance on exemptions from the registration requirements of the Securities Act. Common Shares will be offered for subscription continuously throughout the initial closing period and may be offered from time to time thereafter. The initial closing (the “Initial Closing”) for the acceptance of Subscription Agreements (defined below) occurred on December 21, 2023. Subsequent closings have occurred and the final closing of investments from third-party investors occurred on December 19, 2025. Each investor in the Private Offering makes capital commitments (a “Capital Commitment”) to purchase Common Shares pursuant to a Subscription Agreement entered into with the Company. Investors are required to fund drawdowns to purchase the Company’s Common Shares up to the amount of their respective Capital Commitment on an as-needed basis each time the Company delivers a drawdown notice to the investors.