GOLDENTREE LOAN OPPORTUNITIES VI, LIMITED GOLDENTREE LOAN OPPORTUNITIES VI, LLC NOTICE OF PROPOSED SUPPLEMENTAL INDENTURE

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1 The Bank of New York Mellon Trust Company, National Association GOLDENTREE LOAN OPPORTUNITIES VI, LIMITED GOLDENTREE LOAN OPPORTUNITIES VI, LLC NOTICE OF PROPOSED SUPPLEMENTAL INDENTURE NOTE: THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED HOLDERS AND BENEFICIAL OWNERS OF THE SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE RE-TRANSMITTAL TO THE REGISTERED HOLDERS AND BENEFICIAL OWNERS OF THE SECURITIES IN A TIMELY MANNER. To: The Holders of the Securities as follows: October 7, 2014 Securities CUSIP Rule 144A ISIN Rule 144A CUSIP Reg S ISIN Reg S CUSIP Accredited Investor ISIN Accredited Investor Class X Notes 38137AAA1 US38137AAA16 G3961KAA7 USG3961KAA72 N/A N/A Class A Notes 38137AAC7 US38137AAC71 G3961KAB5 USG3961KAB55 N/A N/A Class B Notes 38137AAE3 US38137AAE38 G3961KAC3 USG3961KAC39 N/A N/A Class C Notes 38137AAG8 US38137AAG85 G3961KAD1 USG3961KAD12 N/A N/A Class D Notes 38137AAJ2 US38137AAJ25 G3961KAE9 USG3961KAE94 N/A N/A Class E Notes 38137BAA9 US38137BAA98 G3962BAA6 USG3962BAA64 N/A N/A Subordinated Notes 38137BAC5 US38137BAC54 G3962BAB4 USG3962BAB BAD3 US38137BAD38 Combination Securities 38137BAE1 US38137BAE11 G3962BAC2 USG3962BAC21 N/A N/A To: Those Additional Addressees Listed on Schedule I hereto Reference is hereby made to that certain Indenture dated as of May 1, 2012 (as amended, modified or supplemented from time to time, the Indenture ), among GoldenTree Loan Opportunities VI, Limited, as Issuer (the Issuer ), GoldenTree Loan Opportunities VI, LLC, as Co-Issuer (the Co-Issuer and, together with the Issuer, the Co-Issuers ), and The Bank of New York Mellon Trust Company, National Association, as Trustee (the Trustee ). Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Indenture. No representation is made as to the correctness of the CUSIP or ISIN numbers either as printed on the Securities or as contained in this notice. Such numbers are included solely for the convenience of the Holders. HOU: /01230: v2

2 Pursuant to Section 8.1 of the Indenture, the Trustee hereby provides notice of a proposed supplemental indenture to be entered into pursuant to Section 8.1(xvii) of the Indenture (the Supplemental Indenture ), which will supplement the Indenture according to its terms and which will be executed by the Co-Issuers and the Trustee upon satisfaction of all conditions precedent set forth in the Indenture. A copy of the proposed Supplemental Indenture is attached hereto as Exhibit A. The Supplemental Indenture shall not become effective until the execution and delivery of the Supplemental Indenture by the parties thereto and the satisfaction of all other conditions precedent set forth in the Indenture. Please note that the Co-Issuers and the Trustee will enter into the Supplemental Indenture no earlier than fifteen (15) Business Days after this notice is given (which is the date of mailing). THE TRUSTEE MAKES NO STATEMENT AS TO THE RIGHTS OF THE HOLDERS OF THE SECURITIES IN RESPECT OF THE SUPPLEMENTAL INDENTURE AND MAKES NO RECOMMENDATIONS AS TO ANY ACTION TO BE TAKEN WITH RESPECT TO THE SUPPLEMENTAL INDENTURE OR OTHERWISE AND ASSUMES NO RESPONSIBILITY FOR THE CONTENTS, SUFFICIENCY OR VALIDITY OF THE SUPPLEMENTAL INDENTURE. HOLDERS ARE ADVISED TO CONSULT THEIR OWN LEGAL OR INVESTMENT ADVISOR. Should you have any questions, please contact Corey Gussett at (713) or at corey.gussett@bnymellon.com. THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee HOU: /01230: v2 2

3 SCHEDULE I Additional Addressees Issuer: GoldenTree Loan Opportunities VI, Limited c/o MaplesFS Limited P.O. Box 1093 Grand Cayman, KY Cayman Islands Attn: The Directors Fax: (345) cayman@maplesfs.com with copy to: Maples and Calder P.O. Box 309 Ugland House, Grand Cayman KY Cayman Islands Attn: GoldenTree Loan Opportunities VI, Limited Fax: (345) Co-Issuer: GoldenTree Loan Opportunities VI, LLC c/o Puglisi & Associates 850 Library Avenue, Suite 204 Newark, Delaware Attn: The Directors Fax: (302) dpuglisi@puglisiassoc.com Portfolio Manager: GoldenTree Asset Management LP 300 Park Avenue, 21st Floor New York, New York Attn: General Counsel Fax: (212) britholz@goldentree.com; mwinderman@goldentree.com Rating Agencies: Moody s Investors Service Monitor.CDO@moodys.com Standard & Poor s Rating Services cdo_surveillance@sandp.com Information Agent: goldentree.loan.ops6@bnymellon.com DTC, Euroclear & Clearstream (if applicable): lensnotices@dtcc.com voluntaryreorgannouncements@dtcc.com drit@euroclear.com ca_general.events@clearstream.com Irish Stock Exchange: Maples and Calder as listing agent 75 St. Stephen s Green Dublin 2, Ireland Fax: dublindebtlisting@maplesandcalder.com HOU: /01230: v2 3

4 EXHIBIT A PROPOSED SUPPLEMENTAL INDENTURE HOU: /01230: v2 4

5 Supplemental Indenture GoldenTree Loan Opportunities VI, Limited GoldenTree Loan Opportunities VI, LLC October [ ], 2014 This Supplemental Indenture dated as of October [ ], 2014 (the "Supplemental Indenture") amends the Indenture dated as of May 1, 2012 (the "Indenture") among GoldenTree Loan Opportunities VI, Limited (the "Issuer"), GoldenTree Loan Opportunities VI, LLC (the "Co-Issuer" and, together with the Issuer, the "Co-Issuers") and The Bank of New York Mellon Trust Company, National Association, as trustee (herein, together with its permitted successors and assigns in the trusts hereunder, the "Trustee"). Capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Indenture. PRELIMINARY STATEMENT On August 1, 2014, S&P published an update to its methodologies and assumptions for corporate cash flow collateralized loan obligations. The update incorporated additional information concerning potential recovery outcomes and recovery rates for loans. Pursuant to Section 8.1(xvii) of the Indenture, the Co-Issuers may enter into one or more indentures supplemental to the Indenture for the purpose of conforming to ratings criteria and other guidelines (including any alternative methodology published by either of the Rating Agencies) relating to collateral debt obligations in general published by either of the Rating Agencies, subject only to causing the Trustee to provide a copy of each such proposed supplemental indenture to the Holders and each Rating Agency not later than 15 Business Days prior to the execution of such supplemental indenture. Whereas (i) the signatures of the Co-Issuers hereto shall constitute evidence of their consent to the execution of this Supplemental Indenture in accordance with Section 8.1 of the Indenture; (ii) a draft supplemental indenture substantially in the form hereof was made available to each of the Holders and the Rating Agencies 15 Business Days prior to the date hereof; (iii) an Authorized Officer of the Portfolio Manager has delivered the Portfolio Manager's written consent to the execution of this Supplemental Indenture; (iv) the Opinion of Counsel which the Trustee is entitled to receive pursuant to Section 8.3 of the Indenture has been delivered to the Trustee; and (v) the conditions required to amend the Indenture pursuant to Section 8.1(xvii) and Section 8.3 of the Indenture have been satisfied. Accordingly, in consideration of the mutual agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 1. Amendments. Amendment to Schedule 5 S&P Recovery Rate Tables.

6 The table set forth in clause (a) of Section 1 of Schedule 5 to the Indenture is deleted in its entirety and replaced with the following table: Table 1: S&P Recovery Rates for Collateral Obligation With S&P Asset Specific Recovery Ratings S&P Recovery Rating of a Collateral Obligation Recovery range from S&P's published reports.* Initial Liability Rating ** "AAA" "AA" "A" "BBB" "BB" "B" and below % 85% 88% 90% 92% 95% % 75% 80% 85% 90% 95% % 70% 75% 81% 86% 90% % 60% 66% 73% 79% 80% % 50% 56% 63% 67% 70% % 40% 46% 53% 59% 60% % 35% 42% 46% 48% 50% % 26% 33% 39% 40% 40% % 20% 24% 26% 28% 30% % 10% 15% 20% 20% 20% % 4% 6% 8% 10% 10% Recovery rate * If a recovery range is not available for a given loan with a recovery rating of '2' through '5', the lower range for the applicable recovery rating should be assumed. ** The S&P Recovery Rate shall be the applicable rate set forth above based on the applicable Class of Secured Notes and the rating thereof as of the Closing Date. 2. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS. 3. Execution in Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 4. Concerning the Trustee. The preliminary statements contained in this Supplemental Indenture shall be taken as the statements of the Co-Issuers and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation as to the validity, execution or sufficiency of this Supplemental Indenture. DOC ID

7 In entering into this Supplemental Indenture, the Trustee shall be entitled to the benefit of every provision of the Indenture relating to the conduct of or affecting the liability of or affording protection to the Trustee. 5. No Other Changes. Except as provided herein, the Indenture shall remain unchanged and in full force and effect, and each reference to the Indenture and words of similar import in the Indenture and other Transaction Documents shall be a reference to the Indenture as amended hereby and as the same may be further amended, supplemented and otherwise modified and in effect from time to time. 6. Execution, Delivery and Validity. The Co-Issuers represent and warrant to the Trustee that this Supplemental Indenture has been duly and validly executed and delivered by the Co-Issuers and constitutes their legal, valid and binding obligations, enforceable against the Co-Issuers in accordance with its terms. 7. Binding Effect. This Supplemental Indenture shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. [Signature page follows] DOC ID

8 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written. GOLDENTREE LOAN OPPORTUNITIES VI, LIMITED as Issuer Executed as a Deed By: Name: Title: Director Witnessed by: Name: GOLDENTREE LOAN OPPORTUNITIES VI, LLC as Co-Issuer By: Name: Donald J. Puglisi Title: Independent Manager THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION as Trustee By: Name: Title: