CVC Credit Partners European Opportunities : 2022 AGM – Proposed Articles of Association – Clean

COMPANIES (JERSEY) LAW 1991

A COMPANY LIMITED BY

SHARES

_________________________________________________________________________________________

Memorandum

and

Articles of Association

of

CVC CREDIT PARTNERS EUROPEAN

OPPORTUNITIES LIMITED

_________________________________________________________________________________________

Amended subject to shareholder approval 18 May 2022

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MEMORANDUM OF ASSOCIATION

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CVC CREDIT PARTNERS EUROPEAN OPPORTUNITIES LIMITED

• 1. The name of the company is CVC Credit Partners European Opportunities Limited (the "Company").

• 2. The Company is authorised to issue any number of no par value shares of any class.

• 3. The liability of each member is limited to the amount (if any) unpaid on the shares held by that member.

• 4. The Company shall have unrestricted corporate capacity.

• 5. The Company shall exist until dissolved by special resolution or otherwise according to law.

• 6. The Company is a public company.

• 7. The Company is a no par value company.

INDEX

Article

Page

• 1. INTERPRETATION ........................................................................................................................................ 3

• 2. CAPITAL ........................................................................................................................................................... 12

• 3. PRE-EMPTION RIGHTS ............................................................................................................................. 13

• 4. C SHARE UNDERTAKINGS ..................................................................................................................... 15

• 5. MODIFICATION OF RIGHTS .................................................................................................................. 15

• 6. SHARES ............................................................................................................................................................. 16

• 7. REDEMPTION ............................................................................................................................................... 16

• 8. COMPULSORY REDEMPTION ............................................................................................................... 17

• 9. CONVERSION OF SHARES ...................................................................................................................... 18

• 10. C SHARE CONVERSION ....................................................................................................................... 19

• 11. MANAGEMENT SHARES ..................................................................................................................... 20

• 12. LIEN .............................................................................................................................................................. 21

• 13. CALLS ON SHARES ................................................................................................................................. 22

• 14. INTERESTS IN SHARES ........................................................................................................................ 23

• 15. TRANSFER OF SHARES ......................................................................................................................... 26

• 16. TRANSMISSION OF SHARES .............................................................................................................. 29

• 17. FORFEITURE OF SHARES ................................................................................................................... 29

• 18. GENERAL MEETINGS .......................................................................................................................... 31

• 19. PROCEEDINGS AT GENERAL MEETINGS .................................................................................. 31

• 20. VOTES OF MEMBERS ............................................................................................................................ 33

• 21. CORPORATIONS ACTING BY REPRESENTATIVES AT MEETINGS ................................. 35

• 22. APPOINTMENT OF DIRECTORS ...................................................................................................... 35

• 23. RESIGNATION, DISQUALIFICATION AND REMOVAL OF DIRECTORS ........................ 35

• 24. ALTERNATE DIRECTORS ................................................................................................................... 36

• 25. EXECUTIVE DIRECTORS .................................................................................................................... 37

• 26. POWERS OF DIRECTORS ..................................................................................................................... 37

• 27. PROCEEDINGS OF DIRECTORS ....................................................................................................... 38

• 28. DIRECTORS CONFLICTS OF INTEREST ....................................................................................... 39

• 29. SEAL .............................................................................................................................................................. 40

• 30. SECRETARY ............................................................................................................................................... 40

• 31. DIVIDENDS AND RESERVE ............................................................................................................... 40

• 32. CAPITALISATION OF RESERVES ETC . .......................................................................................... 41

• 33. SCRIP DIVIDEND .................................................................................................................................... 42

• 34. ACCOUNTS AND AUDITORS ............................................................................................................. 43

• 35. UNTRACED SHAREHOLDERS ........................................................................................................... 44

• 36. BORROWING POWERS ......................................................................................................................... 44

• 37. NOTICES ..................................................................................................................................................... 45

• 38. CLASS CLOSURE RESOLUTION ........................................................................................................ 46

• 39. CONTINUATION RESOLUTION ....................................................................................................... 46

• 40. WINDING UP ............................................................................................................................................ 46

• 41. INDEMNITY .............................................................................................................................................. 47

• 42. RECORD DATE ........................................................................................................................................ 47

ARTICLES OF ASSOCIATION

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CVC CREDIT PARTNERS EUROPEAN OPPORTUNITIES LIMITED

1.

INTERPRETATION

• (1) The Standard Table shall be excluded from application in its entirety to the Company and the following provisions shall constitute the Articles of the Company in place of the Standard Table.

• (2) In these Articles unless the context otherwise requires:

"address" in relation to Electronic Communications, includes any number or address used for the purposes of Electronic Communications;

"Affected Class" is as defined in Article 38;

"Administrator" means the person appointed by the Company from time to time as its administrator;

"Annual General Meeting" is as defined in Article 18(2);

"Annual Record Date" means the latest practicable Business Day prior to the publication of the document giving notice of each Annual General Meeting or such other date as the Directors, at their sole discretion, may designate as such from time to time;

"Articles" means the articles of association of the Company, as amended from time to time;

"Auditors" means the auditors for the time being of the Company appointed in accordance with Article 34 hereof;

"Back Stop Date" means such date as determined by the Directors and set out in the Specified Conversion Criteria;

"Board of Directors" means the board of directors of the Company;

"Business Day" means a day on which banks are open for normal banking business in such jurisdictions as may be determined by the Directors for any particular purpose;

"C Shares" means the redeemable ordinary shares of no par value in the capital of the Company which will be issued as C Shares of such classes and denominated in such currencies as the Directors may determine having the rights and privileges and being subject to the restrictions contained in these Articles and which will be convertible into such Correspondent Shares as may be determined by the

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Amended subject to shareholder approval 18 May 2022