Investing in Private Credit

Risk factors can differ significantly across private credit investments Sector Residential Commercial Corporate Consumer Specialty Commercial Specialty SOURCE: PIMCO This information is summary in nature and is not intended to be all inclusive. Refer to Appendix for additional investment strategy and risk information PIMCO Key risk factors Home prices Housing affordability Consumer health Operational risks Real estate prices Idiosyncratic credit factors Corporate earnings Corporate earnings Corporate balance sheets GDP growth Idiosyncratic credit factors Unemployment Wage growth Consumer leverage Adherence to underwriting standards Idiosyncratic credit factors Servicing expertise 4

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