Key Information DocumentThis document provides you with key information about this investment product. It isnot marketing material. The information is required by law to help you understand thenature, risks, costs, potential gains and losses of this product and to help you compareit with other products. M&G Credit Income Investment Trust plc (the ‘Company’)Ordinary Shares ISIN no. GB00BFYYL325Managed by M&G Alternatives Investment Management LimitedM&G Alternatives Investment Management Limited is authorised and regulated by the Financial Conduct AuthorityFor further information please call +44 (0) 1392 477500 The key information is accurate as at 14 February 2025 What is this product? What are the risks and what could I get in return?TypeRisk indicatorThe Company was incorporated in England and Wales on 17 July 2018, Lower risk Higher riskas a public company limited by shares. The ordinary shares are listedon the Official List of the UKLA and traded on the main market of theLondon Stock Exchange.The ordinary shares are bought and sold via the main market of the123 4 5 67London Stock Exchange. Typically, the price an investor pays for anordinary share will be higher than the price at which that ordinary The risk indicator assumes you keep the product for five years.share could be sold.The actual risk can vary significantly if you cash in at an earlyThe return to investors is dependent on the performance of the stage and you may get back less. You may not be able to sellshare price of the ordinary shares, which is largely determined by the your product easily or you may have to sell at a price thatperformance of the underlying investments. significantly impacts on how much you get back. Objective and policyThe summary risk indicator is a guide to the level of risk of thisThe Company aims to generate a regular and attractive level of income product compared to other products. It shows how likely it iswith low asset value volatility by investing in a diversified portfolio of that the product will lose money because of movements in thepublic and private debt and debt-like instruments (‘Debt Instruments’) market or because the Company is not able to pay you.of which at least 70% will be investment grade. Over the longer term, We have classified this product as four out of seven, which is ait is expected that the Company will be mainly invested in private medium risk class.Debt Instruments, which are those instruments not quoted on a stock The Risk Indicator rates the potential losses from futureexchange. performance at a medium level, and poor market conditionsThe Company has the ability to borrow up to 30% of net asset value could impact your returns.although it is expected that it will primarily be managed without In addition to the risks referenced above, the Company is alsoborrowing and typically any borrowings will not exceed 20% of net subject to credit, interest rate, prepayment and liquidity risks.asset value. Any borrowings will magnify any gains or losses made byPlease refer to the Investor Disclosure Document.the Company.This product does not include any protection from future marketIt is expected that the Company will typically invest directly, but it may performance so you could lose some or all of your investment.also invest indirectly through collective investment vehicles which areIf the Company is not able to pay you what is owed, you couldexpected to be managed or advised by an M&G Entity.lose your entire investment.Dividend yield objectiveThe Company has an objective of an annualised dividend yield ofSONIA plus 4% for each year. Where SONIA ceases to be available,a suitable replacement shall be determined and Shareholders will benotified accordingly. Intended retail investorTypical investors in the PRIIP are expected to be institutional investorsand professionally-advised or financially sophisticated non-advisedprivate investors who understand and are capable of evaluatingthe merits and risks of such an investment and who have sufficientresources to be able to bear any losses (which may equal the wholeamount invested) that may result from such an investment. Insurance benefitsThe Company does not offer any insurance benefits. Term of the PRIIPThe Company does not have a fixed term but may be wound up at anytime with the approval of its shareholders, by way of special resolution. CIITPlease note that this document is subject to change. Please ensure that you are looking at the latest updated version on the M&G website. Investment performance information What are the costs? The main factor affecting future returns would be the prevailing Presentation of costs interest rate environment as dictated by the Bank of England.The Reduction in Yield (RIY) shows what impact the total costs you pay The factors most likely to affect the outcome of the investment are: will have on the investment return you might get. The total costs take ● The Sterling Overnight Index Average (SONIA) benchmark rate into account one-off, ongoing and incidental costs. which closely tracks the Bank of England base interest rate. The amounts shown here are the cumulative costs of the product ● The target dividend rate over SONIA as decided by the Trust’s Board itself, for three different holding periods. They include potential early of Directors (linked to the long term return profile of the underlying exit penalties. The figures assume you invest £10,000. The figures are portfolio) estimates and may change in the future. ● The price at which shares are purchased, and if applicable, then soldCost over time ● Credit spread performanceThe person selling you or advising you about this product may charge you other costs. If so, this person will provide you with information The Company has an objective of an annualised dividend yield target about these costs, and show you the impact that all costs will have on of SONIA plus 4%. your investment over time. What could affect my return positively? Dividend returns will be higher in periods of high interest rates. Given Investment of £10,000 the underlying portfolio, there would be an expectation for share price ScenariosIf you cash If you cashIf you cash performance to have a negative correlation to sterling investmentin afterin after in at the grade credit spreads although this cannot be guaranteed. If sterling one yearthree years end of five investment grade credit spreads tighten, one might expect the CIIT years* share price to see positive returns. Total costs£135.00 £406.00£676.00 What could affect my return negatively? Dividend returns will be lower in periods of low interest rates. GivenImpact on return (RIY)1.41% 1.41% 1.41% the underlying portfolio, there would be an expectation for share price per year performance to have a negative correlation to sterling investment grade credit spreads, although this cannot be guaranteed. If sterling* (Recommended holding period) investment grade credit spreads widen, one might expect the CIIT share price to see negative returns. If you redeem your holdings under severely adverse market conditions and fluctuating interest rates you lock-in any loss in value that has occurred because of the market stress. Depending on the tenure of your investment and prior fund performance, this may mean that you receive back less than your original investment amount. What happens if M&G Alternatives Investment Management Limited is unable to pay out? M&G Alternatives Investment Management Limited is not obliged to pay out the shares in the Company. The Company is a closed ended investment company and as such, shareholders in the Company have no right to have their shares redeemed or repurchased by the Company. The Company is required to pay out any surplus assets to shareholders on a winding up of the Company, provided that the Company has satisfied all its liabilities. As a shareholder of the Company, you would not be able to make a claim to the Financial Services Compensation Scheme about the Company in the event that the Company is unable to pay out. Composition of costs The table below shows: ● the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period; ● the meaning of the different cost categories. This table shows the impact on return per year One-off costs Entry costs 0.00%As a closed ended collective investment scheme, no entry charges apply. You may be liable for stamp duty or SDRT at a rate of 0.5% on an acquisition of shares. Exit costs 0.00%As a closed ended collective investment scheme, no exit charges apply. Ongoing costs Portfolio transaction costs 0.06%Costs pertaining to the buying and selling of underlying investments. Other ongoing costs 1.29%The impact of the costs that we take each year for managing your investments and the costs associated with running the Company. Incidental costs Performance fees 0.00%No performance fees apply. Carried interests0.00%No carried interests apply to the PRIIP.How long should I hold it and can I take money out early? The recommended holding for the product is five years, however, the shares of the Company trade continuously on the London Stock Exchange and are not bound by any prescribed redemption or sale restrictions. How can I complain? Should you wish to make a complaint about any aspect of the service provided by M&G Alternatives Investment Management Limited, you can do so by contacting us by post, telephone or email. 51 New North Road, Exeter, EX4 4EP Telephone: +44 (0) 1392 477500 Email: mandgcredit@linkgroup.co.uk Other relevant information Other information on the Company can be found on the Company website: mandg.co.uk/creditincomeinvestmenttrust where you can also obtain the up to date Key Information Document. For further information about the Company, please contact +44 (0) 1392 477500 FEB 25/63215