The transaction value is calculated as the aggregate
maximum purchase price for common shares of beneficial interest (the “Shares”) of New Mountain Private Credit Fund, based
upon the net asset value per the Shares as of June 30, 2026 of $23.12. This amount is based upon the offer to purchase up to 2,067,104
Shares.
(2)
Calculated at $153.10 per $1,000,000.00 of the Transaction
Valuation in accordance with Rule 0-11 under the Securities Exchange Act of 1934, as amended.