CANARAS SUMMIT CLO LIMITED CANARAS SUMMIT CLO CORP. NOTICE OF INTERIM DISTRIBUTION

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1 The Bank of New York Mellon Trust Company, National Association CANARAS SUMMIT CLO LIMITED CANARAS SUMMIT CLO CORP. NOTICE OF INTERIM DISTRIBUTION NOTE: THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT NOTES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE RE-TRANSMITTAL TO BENEFICIAL OWNERS OF THE NOTES IN A TIMELY MANNER. October 24, 2017 To: The Holders of the Notes described as follows: CUSIP CUSIP ISIN Reg S Rule 144A Reg S Income Notes G18199AG AG9 USG18199AG72 To: Those Additional Parties Listed on Schedule I hereto Reference is made to (i) that certain Indenture dated as of June 27, 2007 (as supplemented, amended or modified from time to time, the Indenture ), among CANARAS SUMMIT CLO LIMITED, as Issuer (the Issuer ), CANARAS SUMMIT CLO CORP., as Co- Issuer (the Co-Issuer, together with the Issuer, the Co-Issuers ), and THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION (f/k/a The Bank of New York Trust Company, National Association) (the Bank ), as Trustee (the Trustee ), (ii) that certain Income Note and Class P Note Paying Agency Agreement dated as of June 27, 2007 (as supplemented, amended or modified from time to time, the Income Note and Class P Paying Agency Agreement ), among the Issuer, the Bank as Income Note Paying Agent (the Income Note Paying Agent ), the Bank as Class P Collateral Agent (the Class P Collateral Agent ) and the Bank as Class P Securities Intermediary (the Class P Securities Intermediary ) and (iii) that certain Notice of Final Payment to Holders of Secured Notes dated as of September 18, 2017 wherein the Trustee provided notice that each Class of Secured Notes would be paid in full on the September 19, 2017 Payment Date. Capitalized terms used and not defined herein have the meanings given to them in the Indenture. No representation is made as to the correctness of the CUSIP or ISIN numbers either as printed on the Notes or as contained in this notice. Such numbers are included solely for the convenience of the holders of Notes.

2 Notice is hereby given that the Issuer has directed the Trustee pursuant to an Issuer Order to make an interim distribution to the Holders of Income Notes on November 7, 2017 (the Interim Distribution Date ). A copy of the Issuer Order is attached hereto as Exhibit A. The Collateral Manager has advised the Trustee that remaining Collateral Obligations may be sold or settled after the Interim Distribution Date. In light of the foregoing, additional amounts may become available for distribution to Holders of Income Notes after the Interim Distribution Date. Accordingly, the Income Notes should not be surrendered at this time. The Trustee will send written notice to the Holders of Income Notes regarding surrender of such Notes at a later date. Please be advised that all funds will be distributed on the Interim Distribution Date provided that $250, is reserved for payment of expenses or to settle any other residual matters (the balance remaining, the Residual Funds ). The Residual Funds will be distributed in accordance with the Priority of Payments following the Interim Distribution Date on a later date or dates. Should you have any questions, please contact Canaan Ho at (713) or at canaan.ho@bnymellon.com. THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee and Income Note Paying Agent

3 SCHEDULE I Additional Parties Issuer: Canaras Summit CLO Limited Templar House Don Road St. Helier, Jersey JE1 2TR Channel Islands Attention: Directors Co-Issuer: Canaras Summit CLO Corp. c/o Puglisi & Associates 850 Library Avenue, Suite 204 Newark, Delaware Attention: Donald J. Puglisi Fax: (302) Collateral Manager: Canaras Capital Management LLC 130 West 42nd St. Suite 1500 New York, New York Irish Stock Exchange: Irish Stock Exchange Limited Company Announcements Office 28 Anglesea Street Dublin 2, Ireland Irish Paying Agent and Listing Agent: NCB Stockbrokers Limited 3 George s Dock International Financial Services Centre Dublin 2, Ireland DTC, Euroclear & Clearstream (if applicable): lensnotices@dtcc.com voluntaryreorgannouncements@dtcc.com redemptionnotification@dtcc.com drit@euroclear.com ca_mandatory.events@clearstream.com Arrangement and Placement Agent: BNP Paribas Securities Corp th Avenue, 7th Floor New York, New York 10019

4 EXHIBIT A ISSUER ORDER

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