Portfolio

Our Portfolio at a Glance

$180MM

Weighted Average1, 2 Portfolio Company EBITDA

1.8x

Weighted Average1, 2 Portfolio Interest Coverage

1.7%

FMV of current non-accruals

45%

Average Loan to Value2

As of September 30, 2025 • Q3 2025 Earnings Presentation

1 Weighted average is a Non-GAAP measure. View full reconciliation in our Q3 2025 Earnings Presentation.

2 Weighted average based on fair value as of 9/30/2025 and excludes non-interest bearing equity investments.

View Reconciliation

Portfolio Names by Fair Value

Company Percentage
Benevis 4.7%
UniTek 2.2%
Edmentum 3.0%
Alliance Animal Health 2.7%
Dealer Tire 2.6%
Office Ally 2.5%
Permian 2.0%
Associa 2.1%
Mercer Advisors 2.0%
SLP III 5.2%
Net Lease 3.8%
SLP IV 3.7%
insightsoftware 1.9%
108 Other Portfolio Companies 61.6%

Top 10 portfolio companies1 represent $757.3 million, or 25.6%, of consolidated investments

Weighted average based on fair value as of 9/30/2025 and excludes non-interest bearing equity investments.

For complete information regarding our financials, see our periodic filings.

1 Excluding SLP III, SLP IV, and Net Lease

Portfolio Weighted Average EBITDA{{1, 2}}

(In millions)

Quarter Amount in Millions
Q4-21 $114
Q1-22 $120
Q2-22 $130
Q3-22 $132
Q4-22 $138
Q1-23 $141
Q2-23 $144
Q3-23 $147
Q4-23 $155
Q1-24 $179
Q2-24 $180
Q3-24 $189
Q4-24 $184
Q1-25 $170
Q2-25 $176

As of September 30, 2025 • Q3 2025 Earnings Presentation

1 Weighted average is based on fair value of debt investments for each respective quarter, excluding revolvers, non-accrual positions, and recurring revenue loans.

2 Weighted average is a Non-GAAP measure. View full reconciliation in our Q3 2025 Earnings Presentation.