PC · PRIVATE CREDIT

AB Private Lending Fund

AllianceBernstein · BDC

Program Overview

BDC

AB Private Lending Fund

Sponsor/Manager

AllianceBernstein

Asset Class

Private Credit

Issuer

AB Private Lending Fund

Issuer Legal Structure

Delaware Statutory Trust

Program Life Structure

Evergreen

Securities Offered

Equity - Class I Shares Equity - Class S Shares Equity - Class D Shares

Target Leverage

Minimum 150% asset coverage 150% coverage adopted 7/23/2024. Debt $217.25M at 6/30/2026 (1.34x; about 1.30x at 8/31/2026), all secured: Scotia and ABPLF SPV facilities, $345.0M committed. Target 1.0x-1.5x.

Strategy Risk/Return Profile

—

Managing Broker-Dealer

AllianceBernstein Investments, Inc.

Scale

6,604,287 Common shares outstanding (Class I only)

Maximum Offering

$1,000,000,000

Raised To Date

$0

Minimum Investment

$2,500

Class S Shares · waivable

Strategy Overview

Externally managed, non-diversified BDC seeking current income and, secondarily, capital appreciation. It invests at least 80% of total assets in private credit, principally directly originated senior secured first lien, stretch senior and unitranche loans to U.S. middle-market companies ($10-75M EBITDA), with a minority sleeve of broadly syndicated loans and high-yield bonds. At 6/30/2026: 169 borrowers, 96.96% first lien, 100% floating rate, $376.0M portfolio; at 8/31/2026, $164.4M net assets and $213.8M debt (about 1.30x).

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