Portfolio

Our Portfolio at a Glance

$181MM

Weighted Average1, 2 Portfolio Company EBITDA

1.8x

Weighted Average1, 2 Portfolio Interest Coverage

1.4%

FMV of current non-accruals

46%

Average Loan to Value2

As of December 31, 2025 • Q4 2025 Earnings Presentation

1 Weighted average is a Non-GAAP measure. View full reconciliation in our Q4 2025 Earnings Presentation.

2 Weighted average based on fair value as of 12/31/2025 and excludes non-interest bearing equity investments.

View Reconciliation

Portfolio Names by Fair Value

Company Percentage
Benevis 5.6%
Dealer Tire 3.2%
Alliance Animal Health 3.0%
UniTek 2.7%
Permian 2.3%
Associa 2.3%
Mercer Advisors 2.1%
SmartSheet 2.0%
iCIMS 1.9%
insight-software 1.9%
SLP III 5.8%
Net Lease 4.2%
SLP IV 4.1%
101 Other Portfolio Companies 59.0%

Top 10 portfolio companies1 represent $741.0 million, or 26.9%, of consolidated investments.

Weighted average based on fair value as of 12/31/2025 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
Q3-25 $180
Q4-25 $181

As of December 31, 2025 • Q4 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 Q4 2025 Earnings Presentation.