PIMCO Client Privacy Notice (for Subscribers in Offshore Funds)

Introduction

The purpose of this Privacy Notice is to provide you with information on our collection and use of Personal Data (as defined below) in accordance with applicable privacy and data protection laws that may be enacted or amended from time to time, including but not limited to the Data Protection Act, 2017 of the Cayman Islands (the “Cayman DPA”), the California Consumer Privacy Act, as amended (the “CCPA”), the Brazil General Data Protection Law (the “LGPD”), the EU General Data Protection Regulation 2016/679 (the “EU GDPR”), the UK Data Protection Act 2018 (the “UK DPA”) and the “UK GDPR” (as defined in the UK DPA as amended by the Data Protection, Privacy and Electronic Communications (Amendments etc.) (EU Exit) Regulations 2019, and together with the Cayman DPA, CCPA, LGPD, GDPR and UK DPA, the “Data Protection Legislation”). This Privacy Notice is intended to apply to Personal Data we collect through this Subscription Agreement as well as other sources, as described below. It does not apply to Personal Data collected through our US website as well as our UK website. Not all of these laws will be applicable to every individual receiving this notice. For example, the CCPA contains certain exceptions, including an exception for personal information that is collected, processed, sold or disclosed pursuant to the federal Gramm Leach Bliley Act (“GLBA”) and implementing regulations, and so the privacy rights set out herein may not apply to you or to all of your personal information.

In this Privacy Notice, “we,” “us” and “our” refer to the Fund and its affiliates and delegates, including the General Partner, PIMCO, the Administrator and, if applicable, SEI Cayman (referred to herein as the “Cayman Administrator”), each as defined in the Fund’s Confidential Private Placement Memorandum, as amended from time to time.

In our use of Personal Data, the Fund, the General Partner, and PIMCO are each characterized as a “data controller”, “controller” or “business” under various legal regimes including the Cayman DPA, EU GDPR, UK GDPR, LGPD and CCPA. Except as otherwise described in this Privacy Notice, the affiliates and delegates of the Fund, the General Partner, and PIMCO, including the Administrator and Cayman Administrator may act as “data processors,” “processors” or “service providers.”

This Privacy Notice explains our processing of your Personal Data now and over the past twelve (12) months.

Personal Data

“Personal Data” means information that reasonably can be used to directly or indirectly identify an individual natural person, and includes “personal data” as defined in the Cayman DPA, EU GDPR, UK GDPR and LGPD, and “personal information” as defined in the CCPA. If you are an individual investor, this includes such information about yourself that you provide to us. If you are an institutional investor, this includes information of individuals connected with you as an investor or on whose behalf you act or represent as an authorized person (for example individual directors, shareholders, beneficial owners, authorized signatories, trustees, employees, representatives, investors, clients or agents).

Who this affects

If you are an individual investor or authorized person, this will affect you directly. If you are an authorized person acting on behalf of an investor or a corporate or institutional investor (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with Personal Data on individuals connected to you for any reason in relation to your or their investment with us, this will be relevant for those individuals and you should transmit this document to such individuals or otherwise advise them of its contents.

Our collection of Personal Data

By virtue of making (or seeking to make) an investment in the Fund and your associated interactions with us (including the initial application, and including the recording of electronic communications or phone calls where applicable) or by virtue of you otherwise providing us with personal information on individuals connected with you as an investor or authorized person, you will provide us with certain Personal Data.

We may collect and process (or otherwise verify) the following forms of Personal Data:

1. Identifiers such as your name, residential and/or business address, mailing address, email address, personal and/or business contact information, proof of address, driver’s license, tax identification number, social security (or national insurance or similar) number, passport number and other government identification information and/or numbers.
2. Information classified as personal or protected information by state or federal law, including your nationality, state and/or country of domicile or citizenship, place and date of birth, and correspondence records.
3. Commercial information, including tax information, bank account details, source of funds details, credit history and details related to your investment activity.
4. Visual information, including your signature.
5. Professional or employment-related information, including your job title, employer’s name and place of work.
6. Background information, including information needed for or revealed by know-your-customer, fraud, terrorist financing, sanctions and anti-money laundering checks, investor due diligence, accreditation and consents.
7. Financial information and account history, including information about your assets, income, net worth, amounts and types of investment, profit and loss allocations, capital account balances, commitments, withdrawals, redemptions, subscriptions and contributions, account data, other investment participation information, fund transfer information, beneficiaries, positions, percentages of fund, share or option numbers and values, vesting information, investment history, and transaction and tax information.
8. Sensitive personal information, such as your driver’s license, tax identification number, social security (or national insurance or similar) number, passport number and other government identification information and/or numbers.

It is important that we maintain up-to-date records of key information about you. Please notify us of any significant changes in your personal circumstances as soon as they occur (e.g., change of name, address, contact information etc.) by contacting us using the details set out below. From time to time we may ask you to update your Personal Data to ensure our records are up to date.

Sources of Personal Data

We collect Personal Data from the following sources:

1. From you, when you provide it to us pursuant to this Subscription Agreement or by other means.
2. Your, or your employer’s, financial intermediary’s, designated representative’s and/or other authorized person’s correspondence, interactions and transactions with us, or our affiliates, delegates or others, including by letter, email, telephone, and through information provided in subscription agreements, investor questionnaires, partnership agreements, applications and other documents completed by you or on your behalf.
3. Information we receive from consumer reporting agencies, our service providers or other sources we may engage in connection with conducting due diligence, know-your-customer, anti-money laundering and other checks required to be performed in relation to admitting new investors.
4. Information from other public sources, including public news sources, corporate registries, government and other public databases, and professional social media sites.

How we may use your Personal Data

The Fund, General Partner, and PIMCO may collect, store and use your Personal Data for lawful purposes, including the following:

1. Where it is necessary to enter into or for the performance of our rights and obligations under a contract with you or to take steps at your request prior to entering into a contract (e.g., to process your subscription agreement and/or the constitutional and operational documents of the Fund, reflect your ownership of shares or interests in the Fund, provide information you have requested, create and administer your account, administer your investments, maintain registers and communicate with you about your investments);
2. Where it is necessary for compliance with legal and regulatory obligations to which the we are subject (such as compliance with know-your-customer, anti-money laundering, FATCA/CRS, tax reporting and other regulatory requirements) – this may involve collecting specific Personal Data about you where required by law and disclosing such information to applicable regulators, government bodies, tax and other authorities;
3. Where it is necessary for our, our affiliates’, delegates’ and/or other third parties’ legitimate interests (and such interests are not overridden by your interests, fundamental rights or freedoms) or (if required by law) with your consent, including to operate and facilitate our business and services to you, undertake business management, planning, statistical analysis, market research and marketing (including email marketing) activities on our behalf or pursuant to joint marketing agreements, administer and maintain our core records, protect our rights and interests, ensure the security of our assets, systems and networks, prevent, detect and investigate fraud, unlawful or criminal activities in relation to our services, and enforce our terms and conditions and other agreements; and/or
4. Where it is necessary for the establishment, exercise or defense of legal claims.

To the extent we process Personal Data about you on the basis of your consent (for example, where we are required to obtain, and you have provided, your consent for us to send you marketing information), you have the right to withdraw that consent at any time. If you decline to provide or withdraw your consent to our use of Personal Data about you and, under applicable law, we are relying on such consent as the legal basis for processing such data, there are circumstances in which we will not be able to provide you with certain services or take particular action on your behalf.

Where we process Personal Data about you on the basis of our or a third party’s legitimate interests, we may do so for our or our affiliates’, delegates’ and/or other third parties’ everyday business purposes—such as to process your transactions, maintain your account(s)—or respond to court orders and legal investigations. To the extent permitted by law (including with your consent, where required), we may also process Personal Data about you to offer or market products or services to you (including by email).

Additionally, the Administrator and Cayman Administrator may use your Personal Data where this is necessary for compliance with a legal obligation to which it is directly subject (i.e. to comply with applicable law in the area of anti-money laundering and counter terrorist financing or where mandated by a court order or regulatory sanction). Each of the Administrator and the Cayman Administrator, in respect of this specific use of Personal Data, acts as a “data controller,” “controller” or “business” under various legal regimes including the Cayman DPA, EU GDPR, UK GDPR, LGPD and CCPA and will otherwise process Personal Data for such purposes in accordance with this Privacy Notice.

Should we wish to use your Personal Data for other specific purposes that are inconsistent with those described in this Privacy Notice (including, if applicable, any purpose that requires your consent), we will contact you.

Disclosure of Personal Data

We may disclose Personal Data to certain third parties in order carry out and implement any and all purposes described above, and for the objects of the Fund, including:

1. To our service providers, affiliates and delegates, including the Administrator and Cayman Administrator that may act as data processors, processors or service providers (the “Delegates”), which may use Personal Data, for example, to provide their services to us or to discharge the legal, regulatory, or self-regulatory requirements that apply directly to us or in respect of which we rely upon the Delegates, provided that, such use of Personal Data by the Delegates will always be compatible with at least one of the aforementioned purposes for which we use Personal Data. The Delegates will not retain, use, sell or otherwise disclose Personal Data for any purpose other than the specific business purpose for which we have provided the Personal Data to the Delegate.
2. To regulatory, self-regulatory, administrative, law enforcement agencies, or other oversight bodies in certain circumstances where we are required to share Personal Data and other information with respect to your interest in the Fund with the relevant regulatory authorities such as the Cayman Islands Monetary Authority, the Tax Information Authority, or the U.S. Securities and Exchange Commission. They, in turn, may exchange this information with foreign authorities, including tax authorities.
3. As authorized, for example, by subscription agreements or organizational documents of the Fund and as authorized by you or your designated representatives or other authorized persons.
4. As necessary for us to enter into or to perform a contract with you (e.g., to process your subscription agreement, provide information you have requested, create and administer your account, administer your investments, maintain registers and communicate with you about your investments).
5. As necessary for our, or a third party’s, legitimate business interests.
6. In connection with certain business transactions, with a third party that succeeds the General Partner or PIMCO in carrying on all or a part of our business or if the Fund is otherwise sold or transferred to a third party.
7. As required by law, regulation, or self-regulatory requirement, including to comply with a subpoena or similar legal process, including when we believe in good faith that disclosure is legally required.
8. As necessary for the establishment, exercise or defense of legal claims, or where otherwise necessary to protect the Fund, the General Partner or the Fund’s rights and property.

We do not currently sell your Personal Data, as the term “sell” or “sale” is defined under the CCPA and have not done so in the past 12 months with respect to the information described in this Privacy Notice. We do not currently “share” your Personal Data for cross-context behavioural advertising purposes, as the term “share” is defined under the CCPA. We also do not have actual knowledge that we “sell” or “share” the Personal Data of minors under the age of 16.

International transfers of Personal Data

Because the Internet and our operations are global, Personal Data may be transferred to, processed in, and held in countries (including the United States) other than the one in which you reside. Such transfers are a necessary part of the services that we provide.

While the Cayman Islands, European Union and United Kingdom do not consider the United States and many other countries to provide essentially equivalent privacy protections, to the extent required by, and in accordance with, applicable data protection laws, we rely on appropriate or suitable safeguards to ensure that any such international transfers of Personal Data are lawful, including:

1. Using binding corporate rules approved by relevant authorities as ensuring adequate safeguards for transfers among the Fund and its affiliates and delegates;
2. Using standard contractual clauses or other safeguards approved by relevant authorities as ensuring adequate safeguards;
3. Obtaining your consent to transfer Personal Data about you after first informing you about the possible risks of such a transfer;
4. When the transfer is to a country which has been granted an adequacy decision under applicable data protection laws by relevant authorities, including the European Commission;
5. When the transfer is necessary for the performance of a contract between you and us, or if the transfer is necessary for the performance of a contract between us and a third party, and the contract was entered into in your interest; and
6. When the transfer is necessary to establish, exercise or defend legal claims.

For more information on the safeguards we have in place, please contact us using the details below.

How we protect Personal Data

Any processing of Personal Data by us or our duly authorized Delegates shall be in accordance with all applicable legal requirements, including those of the Data Protection Legislation.

We and our duly authorized Delegates apply appropriate technical, physical, and administrative information security measures designed to protect against unauthorized or unlawful processing of Personal Data, and against accidental loss or destruction of, or damage to, Personal Data.

Our retention of Personal Data

We may retain your Personal Data for such a period as permitted or required by any applicable laws or regulations and for such a period as may be permitted in accordance with the lawful purposes or legitimate interests outlined above.

How long we hold your personal data for will vary. The retention period will be determined by various criteria including:

• our internal policies that dictate the period for which we hold personal data (which take into account the additional criteria described below);
• our legal and regulatory obligations – laws or regulation may set a minimum period for which we have to store your personal data;
• whether certain Personal Data may need to be retained to investigate or defend against potential legal claims, in accordance with applicable limitation periods; and
• the volume, nature and sensitivity of the Personal Data, the potential risk of harm from unauthorized use or disclosure of such Personal Data, as well as the purposes for which such Personal Data is processed, and whether we can achieve those purposes by other means.

Your data subject rights

Individuals in Andorra, Argentina, Australia, Brazil, California, Canada, Cayman Islands, the European Economic Area, Faroe Islands, Guernsey, Hong Kong, Israel, Isle of Man, Japan, Jersey, Mexico, New Zealand, Singapore, South Korea, Switzerland, the United Kingdom, Uruguay, and certain other jurisdictions may have certain data subject rights. These rights vary, but they may include, subject to certain limitations, the right for individuals to:

• request access to and rectification or erasure of their Personal Data;
• restrict or object to the processing of their Personal Data; and
• to obtain a copy of their Personal Data in a portable format and have that data transferred to a third party.

Under the CCPA, if we were to “sell” or “share” your Personal Data, you may also have the right to opt-out of that selling or sharing. We do not use or share your “sensitive personal information”, as such term is defined in the CCPA, in a manner that gives rise to the right to limit the use or disclosure of sensitive personal information under the CCPA.

Individuals may also have the right to lodge a complaint with their local data protection or supervisory authority. For example, individuals in the Cayman Islands may contact the Cayman Islands Data Protection Ombudsman by emailing info@ombudsman.ky. Individuals in the UK may contact the Information Commissioner’s Office (see www.ico.org.uk) and individuals in the EEA may contact their local or national supervisory authority (see www.edpb.europa.eu/about-edpb/about-edpb/members_en for further details).

How to exercise your data subject rights

To exercise any of these rights, please contact us using the details below in the section “Getting in Touch.”

Individuals who submit requests for access, requests to know under the CCPA, requests to correct inaccurate information under the CCPA or requests for erasure or deletion of Personal Data will be required to verify their identity by answering certain questions. We will not disclose or delete any information until such individual’s identity is verified.

Pursuant to applicable Data Protection Legislation, you may designate an authorized agent to submit a request on your behalf. We will not honor any requests from agents until authorization is verified. If we cannot verify your identity, we will let you or your authorized agent know.

Non-Discrimination

We will not discriminate against you based on the exercise of your privacy rights.

Getting in touch

Should you have any queries or wish to discuss or exercise your data protection rights, please contact us at

• FOR EEA/UK INDIVIDUALS: emea_privacy@pimco.com.
• FOR ALL OTHER INDIVIDUALS: AmericasPrivacy@pimco.com or +1-866-746-2615.

Last Revised: January 2023