SLRC

The information contained in this section should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this report. Some of the statements in this report constitute forward-looking statements, which relate to future events or our future performance or financial condition. The forward-looking statements contained herein involve risks and uncertainties, including statements as to: •our future operating results, including our ability to achieve objectives; •our business prospects and the prospects of our portfolio companies; •the impact of investments that we expect to make; •our contractual arrangements and relationships with third parties; •the dependence of our future success on the general economy and its impact on the industries in which we invest; •the impact of any protracted decline in the liquidity of credit markets on our business; •the uncertainty associated with the imposition of tariffs and trade barriers and changes in trade policy and its impact on our portfolio companies and the global economy; •changes in import/export regulations; •the ability of our portfolio companies to achieve their objectives; •the valuation of our investments in portfolio companies, particularly those having no liquid trading market; •market conditions and our ability to access alternative debt markets and additional debt and equity capital; •our expected financings and investments; •the adequacy of our cash resources and working capital; •the timing of cash flows, if any, from the operations of our portfolio companies; •the ability of SLR Capital Partners, LLC (the “Investment Adviser”) to locate suitable investments for us and to monitor and administer our investments; •the ability of the Investment Adviser to attract and retain highly talented professionals; •the ability of the Investment Adviser to adequately allocate investment opportunities among the Company and the Investment Adviser’s other advisory clients; •any conflicts of interest posed by the structure of the management fee and incentive fee to be paid to the Investment Adviser; •changes in political, economic or industry conditions, relations between the United States, Iran, Russia, Ukraine and other nations, the interest rate environment or conditions affecting the financial and capital markets; •the escalating conflicts and various social and political circumstances in the U.S., the Middle East and other parts of the world; •the impact of geopolitical conditions on our portfolio companies and on the industries in which we invest; •changes in the general economy, slowing economy, inflation, risk of recession, risks in respect of a failure to increase the U.S. debt ceiling or government shutdown and uncertainty surrounding the financial and political stability of the United States and other countries; and •our ability to anticipate and identify evolving market expectations with respect to environmental, social and governance matters, including the environmental impacts of our portfolio companies’ supply chains and operations. 48 Table of Contents These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation: •an economic downturn could impair our portfolio companies’ ability to continue to operate, which could lead to the loss of some or all of our investments in such portfolio companies; •a contraction of available credit and/or an inability to access the equity markets could impair our lending and investment activities; •interest rate volatility could adversely affect our results, particularly because we use leverage as part of our investment strategy; •currency fluctuations could adversely affect the results of our investments in foreign companies, particularly to the extent that we receive payments denominated in foreign currency rather than U.S. dollars; and •the risks, uncertainties and other factors we identify in Item 1A. — Risk Factors contained in our Annual Report on Form 10-K for the year ended December 31, 2025, elsewhere in this Quarterly Report on Form 10-Q and in our other filings with the Securities and Exchange Commission (the “SEC”). We generally use words such as “anticipates,” “believes,” “expects,” “intends” and similar expressions to identify forward-looking statements. Our actual results could differ materially from those projected in the forward-looking statements for any reason, including any factors set forth in “Risk Factors” and elsewhere in this report. We have based the forward-looking statements included in this report on information available to us on the date of this report, and we assume no obligation to update any such forward-looking statements. Although we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that we may make directly to you or through reports that we in the future may file with the SEC, including any annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Overview SLR Investment Corp. (the “Company,” “SLRC,” “we” or “our”), a Maryland corporation formed in November 2007, is an externally managed, non-diversified closed-end management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). Furthermore, as the Company is an investment company, it continues to apply the guidance in the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 946. In addition, for U.S federal income tax purposes, the Company has elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). We invest primarily in privately held U.S. middle-market companies, where we believe the supply of primary capital is limited and the investment opportunities are most attractive. Our investment objective is to generate both current income and capital appreciation through debt and equity investments. We invest primarily in leveraged middle-market companies in the form of senior secured loans, financing leases and to a lesser extent, unsecured loans and equity securities. From time to time, we may also invest in public companies that are thinly traded. Our business is focused primarily on the direct origination of investments through portfolio companies or their financial sponsors. Our investments generally range between $5 million and $100 million each, although we expect that this investment size will vary proportionately with the size of our capital base and/or with strategic initiatives. Our investment activities are managed by the Investment Adviser and supervised by our board of directors (the “Board”), a majority of whom are non-interested, as such term is defined in the 1940 Act. SLR Capital Management, LLC (the “Administrator”) provides the administrative services necessary for us to operate. In addition, we may invest a portion of our portfolio in other types of investments, which we refer to as opportunistic investments, which are not our primary focus but are intended to enhance our overall returns. These investments may include, but are not limited to, direct investments in public companies that are not thinly traded and securities of leveraged companies located in select countries outside of the United States. Recent Developments On August 4, 2026, the Board declared a quarterly distribution of $0.31 per share payable on September 25, 2026 to holders of record as of September 11, 2026. 49 Table of Contents Investments Our level of investment activity can and does vary substantially from period to period depending on many factors, including the amount of debt and equity capital available to middle market companies, the level of merger and acquisition activity for such companies, the general economic environment and the competitive environment for the types of investments we make. As a BDC, we must not acquire any assets other than “qualifying assets” specified in the 1940 Act unless, at the time the acquisition is made, at least 70% of our total assets are qualifying assets (with certain limited exceptions). Qualifying assets include investments in “eligible portfolio companies.” The definition of “eligible portfolio company” includes certain public companies that do not have any securities listed on a national securities exchange and companies whose securities are listed on a national securities exchange but whose market capitalization is less than $250 million. Revenue We generate revenue primarily in the form of interest and dividend income from the securities we hold and capital gains, if any, on investment securities that we may sell. Our debt investments generally have a stated term of three to seven years and typically bear interest at a floating rate usually determined on the basis of a benchmark Secured Overnight Financing Rate (“SOFR”), commercial paper rate, or the prime rate. Interest on our debt investments is generally payable monthly or quarterly but may be bi-monthly or semi-annually. In addition, our investments may provide payment-in-kind (“PIK”) income. Such amounts of accrued PIK income are added to the cost of the investment on the respective capitalization dates and generally become due at maturity of the investment or upon the investment being called by the issuer. We may also generate revenue in the form of commitment, origination, structuring fees, fees for providing managerial assistance and, if applicable, consulting fees, etc. Expenses All investment professionals of the Investment Adviser and their respective staffs, when and to the extent engaged in providing investment advisory and management services, and the compensation and routine overhead expenses of such personnel allocable to such services, are provided and paid for by the Investment Adviser. We bear all other costs and expenses of our operations and transactions, including (without limitation): •the cost of our organization and public offerings; •the cost of calculating our net asset value, including the cost of any third-party valuation services; •the cost of effecting sales and repurchases of our shares and other securities; •interest payable on debt, if any, to finance our investments; •fees payable to third parties relating to, or associated with, making investments, including fees and expenses associated with performing due diligence reviews of prospective investments and advisory fees; •transfer agent and custodial fees; •fees and expenses associated with marketing efforts; •federal and state registration fees, any stock exchange listing fees; •federal, state and local taxes; •independent directors’ fees and expenses; •brokerage commissions; •fidelity bond, directors and officers errors and omissions liability insurance and other insurance premiums; •direct costs and expenses of administration, including printing, mailing, long distance telephone and staff; •fees and expenses associated with independent audits and outside legal costs; •costs associated with our reporting and compliance obligations under the 1940 Act and applicable federal and state securities laws; and •all other expenses incurred by either the Administrator or us in connection with administering our business, including payments under the Administration Agreement (as defined below) that will be based upon our allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing 50 Table of Contents compliance functions, and our allocable portion of the costs of compensation and related expenses of our chief compliance officer and our chief financial officer and their respective staffs. We expect our general and administrative operating expenses related to our ongoing operations to increase moderately in dollar terms. During periods of asset growth, we generally expect our general and administrative operating expenses to decline as a percentage of our total assets and increase during periods of asset declines. Incentive fees, interest expense and costs relating to future offerings of securities, among others, may also increase or reduce overall operating expenses based on portfolio performance, interest rate benchmarks and offerings of our securities relative to comparative periods, among other factors. Portfolio and Investment Activity During the three months ended June 30, 2026, we invested approximately $202.4 million across 28 portfolio companies. This compares to investing approximately $333.3 million in 33 portfolio companies during the three months ended June 30, 2025. Investments sold, prepaid or repaid during the three months ended June 30, 2026 totaled approximately $210.7 million versus approximately $209.4 million for the three months ended June 30, 2025. At June 30, 2026, our portfolio consisted of 79 portfolio companies and was invested 21.2% in cash flow senior secured loans, 47.9% in asset-based senior secured loans / SLR Credit Solutions (“SLR Credit”) / SLR Healthcare ABL / SLR Business Credit, 20.3% in equipment senior secured financings / SLR Equipment Finance (“SLR Equipment”) / Kingsbridge Holdings, LLC (“KBH”) and 10.6% in life science investments, in each case, measured at fair value, versus 115 portfolio companies invested 24.6% in cash flow senior secured loans, 44.8% in asset-based senior secured loans / SLR Credit / SLR Healthcare ABL / SLR Business Credit, 19.1% in equipment senior secured financings / SLR Equipment / KBH, and 11.5% in life science investments, in each case, measured at fair value, at June 30, 2025. At June 30, 2026, 83.2%, or $1.68 billion, of our income producing investment portfolio* was floating rate and 16.8%, or $339.4 million, was fixed rate, measured at fair value. At June 30, 2025, 82.9%, or $1.75 billion, of our income producing investment portfolio* was floating rate and 17.1%, or $359.8 million, was fixed rate, measured at fair value. As of June 30, 2026 and 2025, we had two and one issuers, respectively, on non-accrual status. * We have included SLR Credit Solutions, SLR Equipment Finance, SLR Healthcare ABL, SLR Business Credit and Kingsbridge Holdings, LLC within our income producing investment portfolio. SLR Credit Solutions On December 28, 2012, we acquired an equity interest in Crystal Capital Financial Holdings LLC (“Crystal Financial”) for $275 million in cash. Crystal Financial owned approximately 98% of the outstanding ownership interest in SLR Credit Solutions, f/k/a Crystal Financial LLC. The remaining financial interest was held by various employees of SLR Credit, through their investment in Crystal Management LP. SLR Credit had a diversified portfolio of 23 loans having a total par value of approximately $400 million at November 30, 2012 and a $275 million committed revolving credit facility. On July 28, 2016, the Company purchased Crystal Management LP’s approximately 2% equity interest in SLR Credit for approximately $5.7 million. Upon the closing of this transaction, the Company holds 100% of the equity interest in SLR Credit. On September 30, 2016, Crystal Capital Financial Holdings LLC was dissolved. As of June 30, 2026, total commitments to the revolving credit facility were $300 million. As of June 30, 2026, SLR Credit had 31 funded commitments to 23 different issuers with total funded loans of approximately $328.7 million on total assets of $349.8 million. As of December 31, 2025, SLR Credit had 33 funded commitments to 26 different issuers with total funded loans of approximately $404.1 million on total assets of $420.7 million. As of June 30, 2026 and December 31, 2025, the largest loan outstanding totaled $32.4 million and $29.9 million, respectively. For the same periods, the average exposure per issuer was $14.3 million and $15.5 million, respectively. SLR Credit’s credit facility, which is non-recourse to the Company, had approximately $150.0 million and $215.8 million of borrowings outstanding at June 30, 2026 and December 31, 2025, respectively. For the three months ended June 30, 2026 and 2025, SLR Credit had net income of $3.4 million and $3.5 million, respectively, on gross income of $11.0 million and $12.5 million, respectively. For the six months ended June 30, 2026 and 2025, SLR Credit had net income of $6.3 million and $8.7 million, respectively, on gross income of $21.0 million and $22.5 million, respectively. Due to timing and non-cash items, there may be material differences between U.S. generally accepted accounting principles (“GAAP”) net income and cash available for distributions. As such, and subject to fluctuations in SLR Credit’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that SLR Credit will be able to maintain consistent dividend payments to us. 51 Table of Contents SLR Equipment Finance On July 31, 2017, we acquired a 100% equity interest in NEF Holdings, LLC, which conducts its business through its wholly-owned subsidiary Nations Equipment Finance, LLC. Effective February 25, 2021, Nations Equipment Finance, LLC and its related companies are doing business as SLR Equipment Finance. SLR Equipment is an independent equipment finance company that provides senior secured loans and leases primarily to U.S. based companies. We invested $209.9 million in cash to effect the transaction, of which $145.0 million was invested in the equity of SLR Equipment through our wholly-owned consolidated taxable subsidiary NEFCORP LLC and our wholly-owned consolidated subsidiary NEFPASS LLC and $64.9 million was used to purchase certain leases and loans held by SLR Equipment through NEFPASS LLC. On January 31, 2024, SLR Equipment entered into a $225 million senior secured credit facility with a maturity date of January 31, 2027. On March 1, 2024, the credit facility was expanded to $350 million of commitments. On November 26, 2025, SLR Equipment renewed the credit facility extending the maturity date to November 26, 2028. As of June 30, 2026, SLR Equipment had 497 funded equipment-backed leases and loans to 248 different customers with a total net investment in leases and loans of approximately $324.9 million on total assets of $361.7 million. As of December 31, 2025, SLR Equipment had 485 funded equipment-backed leases and loans to 243 different customers with a total net investment in leases and loans of approximately $299.8 million on total assets of $338.3 million. As of June 30, 2026 and December 31, 2025, the largest position outstanding totaled $18.7 million and $17.8 million, respectively. For the same periods, the average exposure per customer was $1.3 million and $1.2 million, respectively. SLR Equipment’s credit facility, which is non-recourse to the Company, had approximately $244.2 million and $237.5 million of borrowings outstanding at June 30, 2026 and December 31, 2025, respectively. For the three months ended June 30, 2026 and 2025, SLR Equipment had net income of $4.3 million and $2.6 million, respectively, on gross income of $11.2 million and $8.8 million, respectively. For the six months ended June 30, 2026 and 2025, SLR Equipment had net income of $8.0 million and $0.6 million, respectively, on gross income of $21.3 million and $15.4 million, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in SLR Equipment’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that SLR Equipment will be able to maintain consistent dividend payments to us. Kingsbridge Holdings, LLC On November 3, 2020, the Company acquired 87.5% of the equity securities of Kingsbridge Holdings, LLC through KBH Topco LLC (“KBHT”), a Delaware corporation. KBH is a residual focused independent mid-ticket lessor of equipment primarily to U.S. investment grade companies. The Company invested $216.6 million to effect the transaction, of which $136.6 million was invested to acquire 87.5% of KBHT’s equity and $80.0 million of KBH’s debt. The existing management team of KBH committed to continuing to lead KBH after the transaction. Following the transaction, the Company owns 87.5% of KBHT’s equity and the KBH management team owns the remaining 12.5% of KBHT’s equity. On March 13, 2024, as per the terms of the original purchase agreement, the Company acquired 3.125% of KBHT’s equity from the KBH management team. On March 11, 2025, as per the terms of the original purchase agreement, the Company acquired an additional 3.125% of KBHT’s equity from the KBH management team. On March 16, 2026, as per the terms of the original purchase agreement, the Company acquired an additional 6.25% of KBHT’s equity from the KBH management team. Effective with these purchases, the Company owns 100% of KBHT’s equity. As of June 30, 2026 and December 31, 2025, KBHT had total assets of $971.0 million and $940.3 million, respectively. For the same periods, debt recourse to KBHT totaled $312.2 million and $309.4 million, respectively, and non-recourse debt totaled $400.3 million and $407.8 million, respectively. None of the debt is recourse to the Company. For the three months ended June 30, 2026 and 2025, KBHT had net income (loss) of $(0.1) million and $2.9 million, respectively, on gross income of $177.5 million and $90.0 million, respectively. For the six months ended June 30, 2026 and 2025, KBHT had net income of $1.4 million and $6.2 million, respectively, on gross income of $248.3 million and $187.9 million, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in KBHT’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that KBHT will be able to maintain consistent dividend payments to us. SLR Healthcare ABL SLR Senior Investment Corp. (“SUNS”) acquired an equity interest in SLR Healthcare ABL, f/k/a Gemino Healthcare Finance, LLC (“SLR Healthcare”) on September 30, 2013. SLR Healthcare is a commercial finance company that originates, underwrites, and manages primarily secured, asset-based loans for small and mid-sized companies operating in the healthcare industry. SUNS’s initial investment in SLR Healthcare ABL was approximately $32.8 million. The management team of SLR Healthcare co-invested in the transaction and continues to lead SLR Healthcare. As of June 30, 2026, SLR Healthcare’s management team and the Company owned approximately 8% and 92% of the equity in SLR Healthcare, respectively. SLRC acquired SLR Healthcare in connection with the SUNS acquisition on April 1, 2022. Effective with an amendment dated March 27, 2026, SLR Healthcare has a $160 million 52 Table of Contents non-recourse credit facility, which is expandable to $300 million under its accordion facility. The maturity date of this facility is March 27, 2031. SLR Healthcare currently manages a highly diverse portfolio of directly-originated and underwritten senior-secured commitments. As of June 30, 2026, the portfolio totaled approximately $259.3 million of commitments with a total net investment in loans of $123.7 million on total assets of $133.4 million. As of December 31, 2025, the portfolio totaled approximately $297.8 million of commitments with a total net investment in loans of $157.0 million on total assets of $165.4 million. At June 30, 2026, the portfolio consisted of 48 issuers with an average balance of approximately $2.6 million versus 48 issuers with an average balance of approximately $3.3 million at December 31, 2025. All of the commitments in SLR Healthcare’s portfolio are floating-rate, senior-secured, cash-pay loans. SLR Healthcare’s credit facility, which is non-recourse to us, had approximately $95.7 million and $127.2 million of borrowings outstanding at June 30, 2026 and December 31, 2025, respectively. For the three months ended June 30, 2026 and 2025, SLR Healthcare had net income of $1.3 million and $1.5 million, respectively, on gross income of $4.6 million and $5.8 million, respectively. For the six months ended June 30, 2026 and 2025, SLR Healthcare had net income of $3.1 million and $2.9 million, respectively, on gross income of $10.1 million and $11.1 million, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in SLR Healthcare’s funded commitments, the timing of originations, and the repayment of financings, the Company cannot guarantee that SLR Healthcare will be able to maintain consistent dividend payments to us. SLR Business Credit SUNS acquired 100% of the equity interests of North Mill Capital LLC (“NMC”) on October 20, 2017. NMC is a leading asset-backed lending commercial finance company that provides senior secured asset-backed financings to U.S. based small-to-medium-sized businesses primarily in the manufacturing, services and distribution industries. SUNS invested approximately $51.0 million to effect the transaction. Subsequently, SUNS contributed 1% of its equity interest in NMC to ESP SSC Corporation. Immediately thereafter, SUNS and ESP SSC Corporation contributed their equity interests to NorthMill LLC (“North Mill”). On May 1, 2018, North Mill merged with and into NMC, with NMC being the surviving company. SUNS and ESP SSC Corporation then owned 99% and 1% of the equity interests of NMC, respectively. The management team of NMC continues to lead NMC. On June 28, 2019, North Mill Holdco LLC (“NM Holdco”), a newly formed entity and ESP SSC Corporation acquired 100% of Summit Financial Resources, a Salt Lake City-based provider of asset-backed financing to small and medium-sized businesses. As part of this transaction, SUNS’s 99% interest in the equity of NMC was contributed to NM Holdco. This approximately $15.5 million transaction was financed with borrowings on NMC’s credit facility. Effective February 25, 2021, NMC and its related companies are doing business as SLR Business Credit. On June 3, 2021, NMC acquired 100% of Fast Pay Partners LLC, a Los Angeles-based provider of asset-backed financing to digital media companies. The transaction purchase price of $66.7 million was financed with equity from SUNS of $19.0 million and borrowings on NMC’s credit facility of $47.7 million. SLRC acquired SLR Business Credit in connection with the SUNS acquisition on April 1, 2022. On September 27, 2024, NMC acquired an asset-based factoring portfolio and operations from Webster Bank, N.A.’s Commercial Services Division. The transaction purchase price of approximately $127 million was funded with $30 million of equity from the Company and the remaining $97 million from borrowings on NMC’s credit facility. SLR Business Credit currently manages a highly diverse portfolio of directly-originated and underwritten senior-secured commitments. As of June 30, 2026, the portfolio totaled approximately $925.8 million of commitments, of which, on a net basis, approximately $597.6 million were funded, on total assets of $642.9 million. As of December 31, 2025, the portfolio totaled approximately $920.4 million of commitments, of which $535.2 million were funded, on total assets of $574.1 million. At June 30, 2026, the portfolio consisted of 168 issuers with an average balance of approximately $3.6 million versus 179 issuers with an average balance of approximately $3.0 million at December 31, 2025. NMC has a senior credit facility with a bank lending group for $367.0 million, which expires on November 13, 2028. Borrowings are secured by substantially all of NMC’s assets. NMC’s credit facility, which is non-recourse to us, had approximately $325.6 million and $273.2 million of borrowings outstanding at June 30, 2026 and December 31, 2025, respectively. For the three months ended June 30, 2026 and 2025, SLR Business Credit had net income of $2.3 million and $2.9 million, respectively, on gross income of $12.7 million and $13.2 million, respectively. For the six months ended June 30, 2026 and 2025, SLR Business Credit had net income of $4.2 million and $5.5 million, respectively, on gross income of $24.7 million and $26.2 million, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in SLR Business Credit’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that SLR Business Credit will be able to maintain consistent dividend payments to us. Stock Repurchase Program On May 4, 2026, our Board authorized an extension of a program for the purpose of repurchasing up to $50,000 of our outstanding shares of common stock. Under the repurchase program, we may, but are not obligated to, repurchase shares of our 53 Table of Contents outstanding common stock in the open market from time to time provided that we comply with our code of ethics and the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, including certain price, market volume and timing constraints. In addition, any repurchases will be conducted in accordance with the 1940 Act. Unless further amended or extended by our Board, we expect the repurchase program to be in place until the earlier of May 7, 2027 or until $50,000 of our outstanding shares of common stock have been repurchased. The timing and number of additional shares to be repurchased will depend on a number of factors, including market conditions. There are no assurances that we will engage in any repurchases beyond what is reported herein. There were no share repurchases during the three months ended June 30, 2026 or for the fiscal year ended December 31, 2025. SLR Senior Lending Program LLC On October 12, 2022, the Company entered into an amended and restated limited liability company agreement with Sunstone Senior Credit L.P. (the “Investor”) to create a joint venture vehicle, SLR Senior Lending Program LLC (“SSLP”). SSLP is expected to invest primarily in senior secured cash flow loans. The Company and the Investor each have made initial equity commitments of $50 million, resulting in a total equity commitment of $100 million. Investment decisions and all material decisions in respect of SSLP must be approved by representatives of the Company and the Investor. On December 1, 2022, SSLP commenced operations. On December 12, 2022, SSLP, as servicer, and SLR Senior Lending Program SPV LLC (“SSLP SPV”), a newly formed wholly owned subsidiary of SSLP, as borrower, entered into a senior secured revolving credit facility with Goldman Sachs Bank USA acting as administrative agent. On October 8, 2025, this facility was refinanced with Citizens Bank, N.A. into a $150 million facility scheduled to mature in October 2030 and generally bearing interest at a rate of SOFR plus 2.15% (the “SSLP Facility”). SSLP and SSLP SPV, as applicable, have made certain customary representations and warranties and are required to comply with various covenants, including leverage restrictions, reporting requirements and other customary requirements for similar credit facilities. The SSLP Facility also includes usual and customary events of default for credit facilities of this nature. At June 30, 2026 and December 31, 2025, borrowings outstanding on the SSLP Facility totaled $94.1 million and $94.5 million, respectively. As of June 30, 2026 and December 31, 2025, the Company and the Investor had contributed combined equity capital in the amount of $95.75 million and $95.75 million, respectively. As of June 30, 2026 and December 31, 2025, the Company and the Investor’s combined remaining commitments to SSLP totaled $4.25 million and $4.25 million, respectively. The Company, along with the Investor, controls the funding of SSLP, and SSLP may not call the unfunded commitments of the Company or the Investor without the approval of both the Company and the Investor. As of June 30, 2026 and December 31, 2025, SSLP had total assets of $191.0 million and $192.8 million, respectively. For the same periods, SSLP’s portfolio consisted of floating rate senior secured loans to 25 and 25 different borrowers, respectively. For the three and six months ended June 30, 2026, SSLP invested $6.7 million and $16.5 million, respectively, in 5 and 7 portfolio companies, respectively. Investments sold or prepaid totaled $11.8 million and $15.2 million, respectively for the three and six months ended June 30, 2026. For the three and six months ended June 30, 2025, SSLP invested $32.3 million and $38.8 million, respectively, in 7 and 9 portfolio companies, respectively. Investments sold or prepaid totaled $13.9 million and $33.8 million, respectively for the three and six months ended June 30, 2025. 54 Table of Contents SSLP Portfolio as of June 30, 2026 (dollar amounts in thousands) Description Industry Spread Above Index(1) Floor Interest Rate(2) Maturity Date Par Amount Cost Fair Value(3) Alkeme Intermediary Holdings, LLC (4) Insurance S+500 1.00 % 8.73 % 5/2027 $ 9,738 $ 9,670 $ 9,738 All States Ag Parts, LLC (4) Trading Companies & Distributors S+650 1.00 % 10.49 % 9/2026 2,024 2,024 1,923 BayMark Health Services, Inc. (4) Health Care Providers & Services S+500 1.00 % 8.99 % 6/2027 3,991 3,991 3,792 CC SAG Holdings Corp. (4) Diversified Consumer Services S+525 0.75 % 8.89 % 6/2028 9,870 9,870 9,870 Crewline Buyer, Inc. IT Services S+675 1.00 % 10.41 % 11/2030 5,084 4,989 4,931 CVAUSA Management, LLC (4) Health Care Providers & Services S+525 1.00 % 8.89 % 5/2029 9,873 9,701 9,873 Exactcare Parent, Inc. Health Care Providers & Services S+550 1.00 % 9.15 % 11/2029 3,155 3,097 3,155 Eyesouth Eye Care Holdco LLC (4) Health Care Providers & Services S+575 1.00 % 9.47 % 10/2029 9,872 9,836 9,872 Fertility (ITC) Investment Holdco, LLC (4) Health Care Providers & Services S+500 0.75 % 8.57 % 1/2029 9,923 9,820 9,923 Foundation Consumer Brands, LLC Personal Care Products S+500 1.00 % 8.72 % 2/2029 2,323 2,323 2,323 iCIMS, Inc.(4) Software S+575 0.75 % 9.42 % 8/2028 10,000 9,975 9,200 Maxor Acquisition, Inc.(4) Health Care Providers & Services S+625 1.00 % 9.98 % 3/2029 7,911 7,799 7,911 Medrina, LLC Health Care Providers & Services S+600 1.00 % 9.63 % 10/2029 2,744 2,698 2,744 NS and Associates LLC Consumer Staples Distribution & Retail S+500 1.00 % 8.65 % 8/2030 8,035 7,930 8,035 ONS MSO, LLC Health Care Providers & Services S+625 1.00 % 9.91 % 7/2028 5,759 5,677 5,644 Pinnacle Fertility, Inc.(4) Health Care Providers & Services S+450 0.75 % 8.37 % 3/2028 13,365 13,365 13,365 Plastics Management, LLC(4) Health Care Providers & Services S+500 1.00 % 8.73 % 8/2027 5,493 5,434 5,493 ReFocus Management Services, LLC(4) Health Care Providers & Services S+500 1.00 % 8.64 % 2/2029 4,786 4,692 4,786 RQM+ Corp.(4)(5) Life Sciences Tools & Services S+725 1.00 % — 8/2029 6,733 6,547 4,713 RxSense Holdings LLC Diversified Consumer Services S+500 1.00 % 8.66 % 3/2027 8,735 8,735 8,735 SunMed Group Holdings, LLC(4) Health Care Equipment & Supplies S+550 0.75 % 9.26 % 6/2028 8,719 8,719 8,719 The Townsend Company, LLC(4) Commercial Services & Supplies S+500 1.00 % 8.64 % 8/2030 12,875 12,597 12,875 United Digestive MSO Parent, LLC(4) Health Care Providers & Services S+575 1.00 % 9.42 % 3/2029 5,020 4,933 5,020 UVP Management, LLC Health Care Providers & Services S+550 1.00 % 9.38 % 9/2027 3,288 3,257 3,223 Western Veterinary Partners LLC(4) Diversified Consumer Services S+525 1.00 % 8.95 % 10/2027 15,001 14,947 15,001 $ 182,626 $ 180,864 (1)Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR. These instruments are typically subject to a SOFR floor. (2)Floating rate debt investments typically bear interest at a rate determined by reference to the SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment, we have provided the current interest rate in effect as of June 30, 2026. (3)Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein. (4)The Company also holds this security on its Consolidated Statements of Assets and Liabilities. (5)Investment is on non-accrual status. 55 Table of Contents SSLP Portfolio as of December 31, 2025 (dollar amounts in thousands) Description Industry Spread Above Index(1) Floor Interest Rate(2) Maturity Date Par Amount Cost Fair Value(3) Alkeme Intermediary Holdings, LLC (4) Insurance S+500 1.00 % 8.67 % 5/2027 $ 8,164 $ 8,071 $ 8,164 All States Ag Parts, LLC (4) Trading Companies & Distributors S+650 1.00 % 10.43 % 9/2026 2,076 2,076 2,076 BayMark Health Services, Inc. (4) Health Care Providers & Services S+500 1.00 % 8.93 % 6/2027 3,991 3,991 3,792 CC SAG Holdings Corp. (4) Diversified Consumer Services S+525 0.75 % 8.97 % 6/2028 9,922 9,922 9,922 Crewline Buyer, Inc. IT Services S+675 1.00 % 10.59 % 11/2030 5,084 4,981 5,084 CVAUSA Management, LLC (4) Health Care Providers & Services S+525 1.00 % 8.97 % 5/2029 9,924 9,727 9,924 Exactcare Parent, Inc. Health Care Providers & Services S+550 1.00 % 9.39 % 11/2029 3,171 3,106 3,171 Eyesouth Eye Care Holdco LLC (4) Health Care Providers & Services S+550 1.00 % 9.47 % 10/2029 9,923 9,883 9,923 Fertility (ITC) Investment Holdco, LLC (4) Health Care Providers & Services S+500 0.75 % 9.12 % 1/2029 5,835 5,727 5,835 Foundation Consumer Brands, LLC Personal Care Products S+500 1.00 % 9.09 % 2/2029 7,777 7,777 7,777 iCIMS, Inc.(4) Software S+575 0.75 % 9.61 % 8/2028 10,000 9,970 10,000 Maxor Acquisition, Inc.(4) Health Care Providers & Services S+600 1.00 % 9.82 % 3/2029 7,951 7,822 7,951 Medrina, LLC Health Care Providers & Services S+600 1.00 % 9.69 % 10/2029 2,758 2,706 2,758 NS and Associates LLC Consumer Staples Distribution & Retail S+525 1.00 % 9.01 % 8/2030 8,076 7,958 8,076 ONS MSO, LLC Health Care Providers & Services S+625 1.00 % 10.09 % 7/2028 5,789 5,689 5,789 Pinnacle Fertility, Inc.(4) Health Care Providers & Services S+500 0.75 % 9.27 % 3/2028 13,432 13,432 13,432 Plastic Management, LLC(4) Health Care Providers & Services S+500 1.00 % 8.67 % 8/2027 5,522 5,439 5,522 RQM+ Corp.(4) Life Sciences Tools & Services S+675 1.00 % 10.68 % 8/2029 6,152 6,152 5,537 RxSense Holdings LLC Diversified Consumer Services S+500 1.00 % 8.84 % 3/2026 8,782 8,782 8,782 SunMed Group Holdings, LLC(4) Health Care Equipment & Supplies S+550 0.75 % 9.44 % 6/2028 8,765 8,765 8,765 The Townsend Company, LLC(4) Commercial Services & Supplies S+500 1.00 % 8.72 % 8/2030 12,020 11,723 12,020 Tilley Distribution, Inc.(4) Trading Companies & Distributors S+600 1.00 % 9.82 % 12/2026 5,548 5,548 5,437 United Digestive MSO Parent, LLC(4) Health Care Providers & Services S+575 1.00 % 9.42 % 3/2029 5,007 4,907 5,007 UVP Management, LLC Health Care Providers & Services S+550 1.00 % 9.32 % 9/2027 3,288 3,245 3,288 Western Veterinary Partners LLC(4) Diversified Consumer Services S+525 1.00 % 8.92 % 10/2027 13,337 13,282 13,337 $ 180,681 $ 181,369 (1)Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR. These instruments are typically subject to a SOFR floor. (2)Floating rate debt investments typically bear interest at a rate determined by reference to the SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment, we have provided the current interest rate in effect as of December 31, 2025. (3)Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein. (4)The Company also holds this security on its Consolidated Statements of Assets and Liabilities. Below is certain summarized financial information for SSLP as of June 30, 2026 and December 31, 2025 and for the three and six months ended June 30, 2026 and 2025: June 30, 2026 December 31, 2025 Selected Balance Sheet Information for SSLP: Investments at fair value (cost $182,626 and $180,681, respectively) $ 180,864 $ 181,369 Cash and other assets 10,124 11,441 Total assets $ 190,988 $ 192,810 Debt outstanding ($94,100 and $94,500 face amounts, respectively, reported net of unamortized debt issuance costs of $1,651 and $1,843, respectively) $ 92,449 $ 92,657 Distributions payable 2,485 1,885 Interest payable and other credit facility related expenses 1,500 1,488 Accrued expenses and other payables 291 268 Total liabilities $ 96,725 $ 96,298 Members’ equity $ 94,263 $ 96,512 Total liabilities and members’ equity $ 190,988 $ 192,810 56 Table of Contents Three months ended Six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Selected Income Statement Information for SSLP: Interest and miscellaneous income $ 4,312 $ 4,558 $ 8,724 $ 9,027 Service fees* 115 109 230 214 Interest and other credit facility expenses 1,589 2,248 3,120 4,490 Other general and administrative expenses 51 61 103 132 Total expenses 1,755 2,418 3,453 4,836 Net investment income $ 2,557 $ 2,140 $ 5,271 $ 4,191 Realized gain on investments — 14 — 337 Net change in unrealized gain (loss) on investments (1,687 ) (59 ) (2,450 ) (344 ) Net realized and unrealized gain (loss) on investments $ (1,687 ) $ (45 ) $ (2,450 ) $ (7 ) Net income $ 870 $ 2,095 $ 2,821 $ 4,184 * Service fees are included within the Company’s Consolidated Statements of Operations as other income. Critical Accounting Policies The preparation of consolidated financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and revenues and expenses during the periods reported. Actual results could materially differ from those estimates. We have identified the following items as critical accounting policies. Within the context of these critical accounting policies and disclosed subsequent events herein, we are not currently aware of any other reasonably likely events or circumstances that would result in materially different amounts being reported. Valuation of Portfolio Investments In December 2020, the SEC adopted Rule 2a-5 under the 1940 Act addressing fair valuation of fund investments. The rule sets forth requirements for good faith determinations of fair value, as well as for the performance of fair value determinations, including related oversight and reporting obligations. The rule also defines “readily available market quotations” for purposes of the definition of “value” under the 1940 Act, and the SEC noted that this definition will apply in all contexts under the 1940 Act. The Company complies with the Rule 2a-5 valuation requirements. We conduct the valuation of our assets, pursuant to which our net asset value is determined, at all times consistent with GAAP and the 1940 Act. The Board will (1) periodically assess and manage valuation risks; (2) establish and apply fair value methodologies; (3) test fair value methodologies; (4) oversee and evaluate third-party pricing services, as applicable; (5) oversee the reporting required by Rule 2a-5 under the 1940 Act; and (6) maintain recordkeeping requirements under Rule 2a-5. It is anticipated that in respect of many of the Company’s assets, readily available market quotations will not be obtainable and that such assets will be valued at fair value. A market quotation is readily available for a security only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Company can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. If the Company anticipates using a market quotation for a security, it will also monitor for circumstances that may necessitate the use of fair value, such as significant events that may cause concern over the reliability of a market quotation. Our valuation procedures are set forth in more detail in Note 2(b) to the Company’s consolidated financial statements. Determination of fair value involves subjective judgments and estimates. Accordingly, the notes to our consolidated financial statements express the uncertainty with respect to the possible effect of such valuations, and any change in such valuations, on our consolidated financial statements. 57 Table of Contents Revenue Recognition The Company records dividend income and interest, adjusted for amortization of premium and accretion of discount, on an accrual basis. Investments that are expected to pay regularly scheduled interest and/or dividends in cash are generally placed on non-accrual status when principal or interest/dividend cash payments are past due 30 days or more (90 days or more for equipment financing) and/or when it is no longer probable that principal or interest/dividend cash payments will be collected. Such non-accrual investments are restored to accrual status if past due principal and interest or dividends are paid in cash, and in management’s judgment, are likely to continue timely payment of their remaining interest or dividend obligations. Interest or dividend cash payments received on investments may be recognized as income or applied to principal depending upon management’s judgment. Some of our investments may have contractual PIK income. PIK income computed at the contractual rate, as applicable, is accrued and reflected as a receivable up to the capitalization date. PIK investments offer issuers the option at each payment date of making payments in cash or in additional securities. When additional securities are received, they typically have the same terms, including maturity dates and interest rates, as the original securities issued. On these payment dates, the Company capitalizes the accrued interest or dividends receivable (reflecting such amounts as the basis in the additional securities received). PIK generally becomes due at the maturity of the investment or upon the investment being called by the issuer. At the point the Company believes PIK is not expected to be realized, the PIK investment will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends is reversed from the related receivable through interest or dividend income, respectively. The Company does not reverse previously capitalized PIK income. Upon capitalization, PIK is subject to the fair value estimates associated with their related investments. PIK investments on non-accrual status are restored to accrual status if the Company again believes that PIK is expected to be realized. Loan origination fees, original issue discount, and market discounts are capitalized and amortized into income using the effective interest method. Upon the prepayment of a loan, any unamortized loan origination fees are recorded as interest income. We record prepayment premiums on loans and other investments as interest income when we receive such amounts. Capital structuring fees are recorded as other income when earned. The typically higher yields and interest rates on PIK securities, to the extent we invested, reflect the payment deferral and increased credit risks associated with such instruments and that such investments may represent a significantly higher credit risk than coupon loans. PIK securities may have unreliable valuations because their continuing accruals require continuing judgments about the collectability of the deferred payments and the value of any associated collateral. PIK income has the effect of generating investment income and increasing the incentive fees payable at a compounding rate. In addition, the deferral of PIK income also increases the loan-to-value ratio at a compounding rate. PIK securities create the risk that incentive fees will be paid to the Investment Adviser based on non-cash accruals that ultimately may not be realized, but the Investment Adviser will be under no obligation to reimburse the Company for these fees. For the three and six months ended June 30, 2026, capitalized PIK income totaled $1.7 million and $7.4 million, respectively. For the three and six months ended June 30, 2025, capitalized PIK income totaled $1.8 million and $3.5 million, respectively. Net Realized Gain or Loss and Net Change in Unrealized Gain or Loss We generally measure realized gain or loss by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized origination or commitment fees and prepayment penalties. The net change in unrealized gain or loss reflects the change in portfolio investment values during the reporting period, including the reversal of previously recorded unrealized gain or loss, when gains or losses are realized. Gains or losses on investments are calculated by using the specific identification method. Income Taxes SLRC, a U.S. corporation, has elected to be treated, and intends to qualify annually, as a RIC under Subchapter M of the Code. In order to qualify for U.S. federal income taxation as a RIC, the Company is required, among other things, to timely distribute to its stockholders at least 90% of investment company taxable income, as defined by the Code, for each year. Depending on the level of taxable income earned in a given tax year, we may choose to carry forward taxable income in excess of current year distributions into the next tax year and pay a nondeductible 4% U.S. federal excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income will be in excess of estimated current year distributions, the Company accrues an estimated excise tax, if any, on estimated excess taxable income. Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standard updates (“ASU”) issued by the Financial Accounting Standards Board. ASUs not listed were assessed and either determined to be not applicable or expected to have minimal impact on its consolidated financial statements. 58 Table of Contents RESULTS OF OPERATIONS Results comparisons for the three and six months ended June 30, 2026 and June 30, 2025 are presented below: Investment Income For the three and six months ended June 30, 2026, gross investment income totaled $48.8 million and $98.1 million, respectively. For the three and six months ended June 30, 2025, gross investment income totaled $53.9 million and $107.1 million, respectively. The decrease in gross investment income for the year over year three month periods was primarily due to a decrease in size of the income-producing portfolio. Expenses Net expenses totaled $31.1 million and $62.5 million, respectively, for the three and six months ended June 30, 2026, of which $11.6 million and $23.9 million, respectively, consisted of base management fees and performance-based incentive fees and $16.8 million and $33.2 million, respectively, consisted of interest and other credit facility expenses. Other general and administrative expenses totaled $2.7 million and $5.5 million, respectively, for the three and six months ended June 30, 2026. Over the same periods, $16 thousand and $30 thousand of performance-based incentive fees were waived. Net expenses totaled $32.3 million and $63.4 million, respectively, for the three and six months ended June 30, 2025, of which $13.2 million and $26.2 million, respectively, consisted of base management fees and performance-based incentive fees and $16.7 million and $32.6 million, respectively, consisted of interest and other credit facility expenses. Other general and administrative expenses totaled $2.4 million and $4.6 million, respectively, for the three and six months ended June 30, 2025. Over the same periods, $20 thousand and $22 thousand of performance-based incentive fees were waived. Expenses generally consist of management and performance-based incentive fees, interest and other credit facility expenses, administrative services fees, insurance expenses, legal fees, directors’ fees, transfer agency fees, printing and proxy expenses, audit and tax services expenses and other general and administrative expenses. Interest and other credit facility expenses generally consist of interest, unused fees, agency fees and loan origination fees, if any, among others. The decrease in expenses for the year over year three month and six month periods was primarily due to lower incentive fees on lower net investment income. Net Investment Income The Company’s net investment income totaled $17.8 million and $35.6 million, or $0.33 and $0.65, per average share, respectively, for the three and six months ended June 30, 2026. The Company’s net investment income totaled $21.6 million and $43.7 million, or $0.40 and $0.80, per average share, respectively, for the three and six months ended June 30, 2025. Net Realized Loss The Company had investment sales and prepayments totaling approximately $211 million and $348 million, respectively, for the three and six months ended June 30, 2026. Net realized losses over the same periods were $152 thousand and $179 thousand, respectively. The Company had investment sales and prepayments totaling approximately $209 million and $406 million, respectively, for the three and six months ended June 30, 2025. Net realized gain (loss) over the same periods were $0.2 million and $(0.2) million, respectively. Net realized loss for the three and six months ended June 30, 2026 and 2025 were primarily due to the disposition of selected assets. Net Change in Unrealized Gain (Loss) For the three and six months ended June 30, 2026, net change in unrealized gain (loss) on the Company’s assets totaled ($9.3) million and ($10.0) million, respectively. Net unrealized loss for the three months ended June 30, 2026 was primarily due to depreciation in the value of our investments in Omniguide Holdings, Inc., iCIMS, Inc., RQM+ Corp. and SLR-AMI Topco Blocker LLC, among others, partially offset by appreciation in the value of our investments in Enhanced Permanent Capital, LLC, SLR Business Credit and SLR Equipment Finance, among others. Net unrealized loss for the six months ended June 30, 2026 was primarily due to depreciation in the value of our investments in Omniguide Holdings, Inc., RQM+ Corp., iCIMS, Inc., SLR-AMI Topco Blocker LLC and SLR Senior Lending Program LLC, among others, partially offset by appreciation in the value of our investments in SLR Business Credit, KBH Topco LLC, SLR Equipment Finance and Enhanced Permanent Capital, LLC, among others. For the three and six months ended June 30, 2025, net change in unrealized gain on the Company’s assets totaled $2.4 million and $0.6 million, respectively. Net unrealized gain for the three months ended June 30, 2025 was primarily due to appreciation in the value of our investments in KBH Topco, LLC, DeepIntent, Inc., SLR Business Credit and Bayside Parent, LLC, among others, partially offset by depreciation in the value of our investments in SLR Equipment Finance, OmniGuide Holdings, Inc., SLR-AMI Topco Blocker, LLC and RQM+ Corp., among others. Net unrealized gain for the six months ended June 30, 2025 was primarily due 59 Table of Contents to appreciation in the value of our investments in KBH Topco, LLC, SLR Business Credit, DeepIntent, Inc. and Bayside Parent, LLC, among others, partially offset by depreciation in the value of our investments in SLR Equipment Finance, SLR-AMI Topco Blocker, LLC, OmniGuide Holdings, Inc. and RQM+ Corp., among others, as well as the reversal of previously recognized unrealized appreciation upon the exit of our investments in Outset Medical, Inc. and Retina Midco, Inc. Net Increase in Net Assets from Operations For the three and six months ended June 30, 2026, the Company had a net increase in net assets resulting from operations of $8.3 million and $25.4 million, respectively. For the same periods, earnings per average share were $0.15 and $0.47, respectively. For the three and six months ended June 30, 2025, the Company had a net increase in net assets resulting from operations of $24.2 million and $44.2 million, respectively. For the same periods, earnings per average share were $0.44 and $0.81, respectively. LIQUIDITY AND CAPITAL RESOURCES The Company’s liquidity and capital resources are generated and generally available through its Credit Facility and SPV Credit Facility (as defined below), the 2026 Unsecured Notes, the 2027 Unsecured Notes, the 2027 Series F Unsecured Notes, the 2027 Series G Unsecured Notes, the 2028 Series H Unsecured Notes, the 2028 Series I Unsecured Notes and the 2028 Series J Unsecured Notes (collectively the “Debt Instruments”), through cash flows from operations, investment sales, prepayments of senior and subordinated loans, income earned on investments and cash equivalents, and periodic follow-on equity and/or debt offerings. As of June 30, 2026, we had a total of $465.4 million of collective unused borrowing capacity under the Credit Facility and SPV Credit Facility, subject to borrowing base limits. On February 28, 2025, the Company entered into an equity distribution agreement (the “Equity Distribution Agreement”) by and among the Company, the Investment Adviser and the Administrator, on the one hand, and Raymond James & Associates, Inc., Citizens JMP Securities, LLC and Jefferies LLC, as placement agents thereunder (collectively, the “Agents”), on the other hand. Under the Equity Distribution Agreement, the Company may, but has no obligation to, issue and sell up to $150.0 million in aggregate amount of shares of its common stock from time to time through the Agents, or to them, as principal for their own account. For the three and six months ended June 30, 2026 and 2025, the Company sold no shares of common stock under the Equity Distribution Agreement. As of June 30, 2026, shares representing $150.0 million of our common stock remain available for issuance and sale under the Equity Distribution Agreement. We may from time to time issue other equity and/or debt securities in either public or private offerings. The issuance of such securities will depend on future market conditions, funding needs and other factors and there can be no assurance that any such issuance will occur or be successful. The primary uses of existing funds and any funds raised in the future are expected to be for investments in portfolio companies, repayment of indebtedness, cash distributions to our stockholders, or for other general corporate purposes. Debt On August 21, 2025, the Company closed a private offering of $75 million of unsecured notes due 2028 (the “2028 Series J Unsecured Notes”) with a fixed interest rate of 5.95% and a maturity date of August 21, 2028. Interest on the 2028 Series J Unsecured Notes is due semi-annually on February 21 and August 21. The 2028 Series J Unsecured Notes were issued in a private placement only to qualified institutional buyers. On July 30, 2025, the Company closed a private offering of $50 million of unsecured notes due 2028 (the “2028 Series I Unsecured Notes”) with a fixed interest rate of 5.96% and a maturity date of July 30, 2028. Interest on the 2028 Series I Unsecured Notes is due semi-annually on January 30 and July 30. The 2028 Series I Unsecured Notes were issued in a private placement only to qualified institutional buyers. On February 18, 2025, the Company closed a private offering of $50 million of unsecured notes with a fixed interest rate of 6.14% and a maturity date of February 18, 2028 (the “2028 Series H Unsecured Notes”). Interest on the 2028 Series H Unsecured Notes is due semi-annually on February 18 and August 18. The 2028 Series H Unsecured Notes were issued in a private placement only to qualified institutional buyers. On December 16, 2024, the Company closed a private offering of $49 million of unsecured notes with a fixed interest rate of 6.24% and a maturity date of December 16, 2027 (the “2027 Series G Unsecured Notes”). Interest on the 2027 Series G Unsecured Notes is due semi-annually on June 16 and December 16. The 2027 Series G Unsecured Notes were issued in a private placement only to qualified institutional buyers. 60 Table of Contents On August 16, 2024, the Company closed on Amendment No. 3 to its August 28, 2019 senior secured credit agreement (as amended to date, the “Credit Facility”). Following this amendment and several commitment increases between the fourth quarter of 2024 and the second quarter of 2026 and a commitment decrease in the fourth quarter of 2025 related to a lender who did not extend their commitment with Amendment No. 3, the Credit Facility is now composed of $720.0 million of revolving credit and $146.6 million of term loans. Borrowings generally bear interest at a rate per annum equal to the base rate plus a range of 1.75%-2.00% or the alternate base rate plus 0.75%-1.00%. The Credit Facility has a 0% floor, matures in August 2029 and includes ratable amortization in the final year. Subsequent to Amendment No. 4 on December 3, 2024, the Credit Facility may be increased up to $900 million with additional new lenders or an increase in commitments from current lenders. The Credit Facility contains certain customary affirmative and negative covenants and events of default. In addition, the Credit Facility contains certain financial covenants that, among other things, require the Company to maintain a minimum stockholder’s equity and a minimum asset coverage ratio. At June 30, 2026, outstanding USD equivalent borrowings under the Credit Facility totaled $552.1 million, composed of $405.5 million of revolving credit and $146.6 million of term loans. On April 1, 2022, we entered into an assumption agreement (the “CF Assumption Agreement”), effective as of the closing of the SUNS acquisition. The CF Assumption Agreement relates to our assumption of the revolving credit facility, originally entered into on August 26, 2011 (as amended from time to time, the “SPV Credit Facility”), by and among SUNS SPV LLC (the “SUNS SPV”), a wholly-owned subsidiary of SUNS, acting as borrower, Citibank, N.A., acting as administrative agent and collateral agent, and the other parties thereto. Currently, subsequent to an August 30, 2024 amendment, the commitment under the SPV Credit Facility is $275 million. The stated interest rate on the SPV Credit Facility is SOFR plus 2.25%-2.75% with no SOFR floor requirement, and the current final maturity date is August 30, 2028. The SPV Credit Facility is secured by all of the assets held by SUNS SPV. Under the terms of the SPV Credit Facility and related transaction documents, we, as successor to SUNS, and SUNS SPV, as applicable, have made certain customary representations and warranties and are required to comply with various covenants, including leverage restrictions, reporting requirements and other customary requirements for similar credit facilities. The SPV Credit Facility also includes usual and customary events of default for credit facilities of this nature. At June 30, 2026, outstanding USD equivalent borrowings under the SPV Credit Facility totaled $124.1 million. On January 6, 2022, the Company closed a private offering of $135 million of unsecured notes with a fixed interest rate of 3.33% and a maturity date of January 6, 2027 (the “2027 Series F Unsecured Notes”). Interest on the 2027 Series F Unsecured Notes is due semi-annually on January 6 and July 6. The 2027 Series F Unsecured Notes were issued in a private placement only to qualified institutional buyers. On September 14, 2021, the Company closed a private offering of $50 million of unsecured notes with a fixed interest rate of 2.95% and a maturity date of March 14, 2027 (the “2027 Unsecured Notes”). Interest on the 2027 Unsecured Notes is due semi-annually on March 14 and September 14. The 2027 Unsecured Notes were issued in a private placement only to qualified institutional buyers. On December 18, 2019, the Company closed a private offering of $75 million of unsecured notes with a fixed interest rate of 4.375% and a maturity date of December 15, 2026 (the “2026 Unsecured Notes”). Interest on the 2026 Unsecured Notes is due semi-annually on June 15 and December 15. The 2026 Unsecured Notes were issued in a private placement only to qualified institutional buyers. Certain covenants on our issued debt may restrict our business activities, including limitations that could hinder our ability to finance additional loans and investments or to make the distributions required to maintain our status as a RIC under Subchapter M of the Code. At June 30, 2026, the Company was in compliance with all financial and operational covenants required by the Debt Instruments. Cash Equivalents We deem certain U.S. Treasury bills, repurchase agreements and other high-quality, short-term debt securities as cash equivalents. The Company makes purchases that are consistent with its purpose of making investments in securities described in paragraphs 1 through 3 of Section 55(a) of the 1940 Act. From time to time, including at or near the end of each fiscal quarter, we consider using various temporary investment strategies for our business. One strategy includes taking proactive steps by utilizing cash equivalents as temporary assets with the objective of enhancing our investment flexibility pursuant to Section 55 of the 1940 Act. More specifically, from time to time we may purchase U.S. Treasury bills or other high-quality, short-term debt securities at or near the end of the quarter and typically close out the position on a net cash basis subsequent to quarter end. We may also utilize repurchase agreements or other balance sheet transactions, including drawing down on the Credit Facility, as deemed appropriate. The amount of these transactions or such drawn cash for this purpose are excluded from total assets for purposes of computing the asset base upon which the management fee is determined. As of June 30, 2026 and December 31, 2025, we held face amounts of $400 million and $350 million, respectively, in cash equivalents. 61 Table of Contents Contractual Obligations A summary of our significant contractual payment obligations is as follows as of June 30, 2026: Payments Due by Period (in millions) Total Less than 1 Year 1-3 Years 3-5 Years More Than 5 Years Revolving credit facilities (1) $ 529.6 $ — $ 124.1 $ 405.5 $ — Unsecured senior notes 484.0 260.0 224.0 — — Term loans 146.6 6.6 — 140.0 — (1)As of June 30, 2026, we had a total of $465.4 million of unused borrowing capacity under our revolving credit facilities, subject to borrowing base limits. Under the provisions of the 1940 Act, we are permitted, as a BDC, to issue senior securities in amounts such that our asset coverage ratio, as defined in the 1940 Act, equals at least 150% of gross assets less all liabilities and indebtedness not represented by senior securities, after each issuance of senior securities. If the value of our assets declines, we may be unable to satisfy the asset coverage test. If that happens, we may be required to sell a portion of our investments and, depending on the nature of our leverage, repay a portion of our indebtedness at a time when such sales may be disadvantageous. Also, any amounts that we use to service our indebtedness would not be available for distributions to our common stockholders. Furthermore, as a result of issuing senior securities, we would also be exposed to typical risks associated with leverage, including an increased risk of loss. We have also entered into two contracts under which we have future commitments: an investment advisory and management agreement (the “Advisory Agreement”), pursuant to which the Investment Adviser has agreed to serve as our investment adviser, and an administration agreement (the “Administration Agreement”), pursuant to which the Administrator has agreed to furnish us with the facilities and administrative services necessary to conduct our day-to-day operations and provide on our behalf managerial assistance to those portfolio companies to which we are required to provide such assistance. Payments under the Advisory Agreement are equal to (1) a percentage of the value of our average gross assets and (2) a two-part incentive fee. Payments under the Administration Agreement are equal to an amount based upon our allocable portion of the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent, technology systems, insurance and our allocable portion of the costs of our chief financial officer and chief compliance officer and their respective staffs. Either party may terminate each of the Advisory Agreement and Administration Agreement without penalty upon 60 days written notice to the other. See Note 3 to our Consolidated Financial Statements. On July 31, 2017, the Company, NEFPASS LLC and NEFCORP LLC entered into a servicing agreement. NEFCORP LLC was engaged to provide NEFPASS LLC with administrative services related to the loans and capital leases held by NEFPASS LLC. NEFPASS LLC may terminate this agreement upon 30 days written notice to NEFCORP LLC. On October 7, 2022, the Company committed $50 million to SSLP and entered into a servicing agreement. SSLP engaged and retained the Company to provide certain administrative services relating to the facilities, supplies and necessary ongoing overhead support services for the operation of SSLP’s ongoing business affairs in exchange for a fee. Senior Securities Information about our senior securities is shown in the following table (in thousands) as of the quarter ended June 30, 2026 and each year ended December 31 for the past ten years, unless otherwise noted. The “—” indicates information which the SEC expressly does not require to be disclosed for certain types of senior securities. 62 Table of Contents Class and Year Total Amount Outstanding(1) Asset Coverage Per Unit(2) Involuntary Liquidating Preference Per Unit(3) Average Market Value Per Unit(4) Credit Facility Fiscal 2026 (through June 30, 2026) $ 405,539 $ 646 — N/A Fiscal 2025 352,248 568 — N/A Fiscal 2024 342,043 642 — N/A Fiscal 2023 407,000 631 — N/A Fiscal 2022 293,000 513 — N/A Fiscal 2021 222,500 552 — N/A Fiscal 2020 126,000 421 — N/A Fiscal 2019 42,900 182 — N/A Fiscal 2018 96,400 593 — N/A Fiscal 2017 245,600 1,225 — N/A Fiscal 2016 115,200 990 — N/A Fiscal 2015 207,900 1,459 — N/A SPV Credit Facility Fiscal 2026 (through June 30, 2026) 124,050 197 — N/A Fiscal 2025 165,050 266 — N/A Fiscal 2024 165,050 310 — N/A Fiscal 2023 206,250 320 — N/A Fiscal 2022 155,200 272 — N/A 2022 Unsecured Notes Fiscal 2022 — — — N/A Fiscal 2021 150,000 372 — N/A Fiscal 2020 150,000 501 — N/A Fiscal 2019 150,000 638 — N/A Fiscal 2018 150,000 923 — N/A Fiscal 2017 150,000 748 — N/A Fiscal 2016 50,000 430 — N/A 2022 Tranche C Notes Fiscal 2022 — — — N/A Fiscal 2021 21,000 52 — N/A Fiscal 2020 21,000 70 — N/A Fiscal 2019 21,000 89 — N/A Fiscal 2018 21,000 129 — N/A Fiscal 2017 21,000 105 — N/A 2023 Unsecured Notes Fiscal 2023 — — — N/A Fiscal 2022 75,000 131 — N/A Fiscal 2021 75,000 186 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A Fiscal 2018 75,000 461 — N/A Fiscal 2017 75,000 374 — N/A 2024 Unsecured Notes Fiscal 2024 — — — N/A Fiscal 2023 125,000 194 — N/A Fiscal 2022 125,000 219 — N/A Fiscal 2021 125,000 309 — N/A Fiscal 2020 125,000 417 — N/A Fiscal 2019 125,000 531 — N/A 2025 Unsecured Notes Fiscal 2025 — — — N/A Fiscal 2024 85,000 159 — N/A Fiscal 2023 85,000 132 — N/A Fiscal 2022 85,000 149 — N/A 63 Table of Contents 64 Table of Contents Class and Year Total Amount Outstanding(1) Asset Coverage Per Unit(2) Involuntary Liquidating Preference Per Unit(3) Average Market Value Per Unit(4) 2026 Unsecured Notes Fiscal 2026 (through June 30, 2026) $ 75,000 $ 119 — N/A Fiscal 2025 75,000 121 — N/A Fiscal 2024 75,000 141 — N/A Fiscal 2023 75,000 116 — N/A Fiscal 2022 75,000 131 — N/A Fiscal 2021 75,000 186 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A 2027 Unsecured Notes Fiscal 2026 (through June 30, 2026) 50,000 80 — N/A Fiscal 2025 50,000 81 — N/A Fiscal 2024 50,000 94 — N/A Fiscal 2023 50,000 77 — N/A Fiscal 2022 50,000 88 — N/A Fiscal 2021 50,000 124 — N/A 2027 Series F Unsecured Notes Fiscal 2026 (through June 30, 2026) 135,000 215 — N/A Fiscal 2025 135,000 218 — N/A Fiscal 2024 135,000 253 — N/A Fiscal 2023 135,000 209 — N/A Fiscal 2022 135,000 237 — N/A 2027 Series G Unsecured Notes Fiscal 2026 (through June 30, 2026) 49,000 78 — N/A Fiscal 2025 49,000 79 — N/A Fiscal 2024 49,000 92 — N/A 2028 Series H Unsecured Notes Fiscal 2026 (through June 30, 2026) 50,000 80 — N/A Fiscal 2025 50,000 81 — N/A 2028 Series I Unsecured Notes Fiscal 2026 (through June 30, 2026) 50,000 80 — N/A Fiscal 2025 50,000 81 — N/A 2028 Series J Unsecured Notes Fiscal 2026 (through June 30, 2026) 75,000 119 — N/A Fiscal 2025 75,000 121 — N/A 2042 Unsecured Notes Fiscal 2017 — — — N/A Fiscal 2016 100,000 859 — $ 1,002 Senior Secured Notes Fiscal 2017 — — — N/A Fiscal 2016 75,000 645 — N/A Term Loans Fiscal 2026 (through June 30, 2026) 146,570 233 — N/A Fiscal 2025 153,138 247 — N/A Fiscal 2024 140,000 263 — N/A Fiscal 2023 100,000 155 — N/A Fiscal 2022 100,000 175 — N/A Fiscal 2021 100,000 248 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A Fiscal 2018 50,000 308 — N/A Fiscal 2017 50,000 250 — N/A Fiscal 2016 50,000 430 — N/A NEFPASS Facility Fiscal 2021 — — — N/A Fiscal 2020 30,000 100 — N/A Fiscal 2019 30,000 128 — N/A Fiscal 2018 30,000 185 — N/A SSLP Facility Fiscal 2019 — — — N/A Fiscal 2018 53,785 331 — N/A Total Senior Securities Fiscal 2026 (through June 30, 2026) $ 1,160,159 $ 1,847 — N/A Fiscal 2025 1,154,436 1,863 — N/A Fiscal 2024 1,041,093 1,954 — N/A 65 Table of Contents Fiscal 2023 1,183,250 1,834 — N/A Fiscal 2022 1,093,200 1,915 — N/A Fiscal 2021 818,500 2,029 — N/A Fiscal 2020 677,000 2,259 — N/A Fiscal 2019 593,900 2,525 — N/A Fiscal 2018 476,185 2,930 — N/A Fiscal 2017 541,600 2,702 — N/A Fiscal 2016 390,200 3,354 — N/A (1)Total amount of each class of senior securities outstanding (in thousands) at the end of the period presented. (2)The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by all senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the Asset Coverage Per Unit. In order to determine the specific Asset Coverage Per Unit for each class of debt, the total Asset Coverage Per Unit is allocated based on the amount outstanding in each class of debt at the end of the period. As of June 30, 2026, asset coverage was 184.7%. (3)The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it. (4)Not applicable except for the 2042 Unsecured Notes which were publicly traded. The Average Market Value Per Unit is calculated by taking the daily average closing price during the period and dividing it by twenty-five dollars per share and multiplying the result by one thousand to determine a unit price per thousand consistent with Asset Coverage Per Unit. The average market value for the fiscal 2016 period was $100,175. 66 Table of Contents Off-Balance Sheet Arrangements From time to time and in the normal course of business, the Company may make unfunded capital commitments to current or prospective portfolio companies. Typically, the Company may agree to provide delayed-draw term loans or, to a lesser extent, revolving loans or equity commitments. These unfunded capital commitments always take into account the Company’s liquidity and cash available for investment, portfolio and issuer diversification, and other considerations. Accordingly, the Company had the following unfunded capital commitments at June 30, 2026 and December 31, 2025, respectively: (in millions) June 30, 2026 December 31, 2025 SLR Credit Solutions* $ 44.3 $ 44.3 Modivcare Buyer, LLC 38.7 — Treace Medical Concepts, Inc. 24.3 24.3 Lyneer Staffing Solutions, LLC 24.0 16.0 Infillion Inc. 21.4 16.8 SLR Business Credit* 20.0 20.0 SLR Healthcare ABL* 18.7 18.7 SLR Equipment Finance* 18.0 9.5 Ardelyx, Inc. 14.6 29.3 Wilbur-Ellis Holdings II, LLC 12.5 26.4 BDG Media, Inc. 11.3 10.9 DeepIntent, Inc. 10.4 9.8 Western Veterinary Partners LLC 9.2 21.1 Quantcast Corporation 8.1 6.3 Southern Lifting and Hoisting, LLC 7.8 10.1 SunMed Receivables I, LLC 7.6 7.6 Velocity One, LLC 7.3 7.3 Copper River Seafoods, Inc. 7.2 10.8 Stella & Chewy's, LLC 7.0 9.2 WMD Funding LLC 5.9 6.2 Pinnacle Fertility, Inc. 5.3 5.3 Streamland Media Holdings LLC 5.2 3.7 Refocus Management Services, LLC 5.2 — Sightly Enterprises, Inc. 4.8 5.7 The Townsend Company, LLC 4.6 5.8 One Touch Direct, LLC 4.1 3.5 Southern Transport LLC 3.7 6.1 SPAR Marketing Force, Inc. 3.6 7.7 iCIMS, Inc. 3.1 2.9 Plastics Management, LLC 3.1 3.1 33Across Inc. 3.1 2.4 Alkeme Intermediary Holdings, LLC 3.1 — Sherwood Management Co., Inc. 2.6 5.1 SLR Senior Lending Program LLC* 2.1 2.1 Southern Orthodontic Partners Management, LLC 2.1 — United Digestive MSO Parent, LLC 1.8 1.9 Bayside Opco, LLC 1.7 2.1 SunMed Group Holdings, LLC 1.6 1.6 EyeSouth Eye Care Holdco LLC 1.0 1.3 CC SAG Holdings Corp. (Spectrum Automotive) 0.5 0.5 TAUC Management, LLC 0.3 0.3 Shoes for Crews Global, LLC 0.3 0.3 All States Ag Parts, LLC 0.1 0.1 Arcutis Biotherapeutics, Inc. — 12.7 OIS Management Services, LLC — 11.4 WALCO Funding, LLC — 2.9 Tilley Distribution, Inc. — 1.0 Total Commitments $ 381.3 $ 394.1 * The Company controls the funding of these commitments and may cancel them at its discretion. 67 Table of Contents The credit agreements governing the above loan commitments contain customary lending provisions and/or are subject to the respective portfolio company’s achievement of certain milestones that allow relief to the Company from funding obligations for previously made commitments in instances where the underlying company experiences materially adverse events that affect the financial condition or business outlook for the company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company. As of June 30, 2026 and December 31, 2025, the Company had sufficient cash available and/or liquid securities available to fund its commitments and had reviewed them for any appropriate fair value adjustment. In the normal course of business, we invest or trade in various financial instruments and may enter into various investment activities with off-balance sheet risk, which may include forward foreign currency contracts. Generally, these financial instruments represent future commitments to purchase or sell other financial instruments at specific terms at future dates. These financial instruments contain varying degrees of off-balance sheet risk whereby changes in the market value or our satisfaction of the obligations may exceed the amount recognized in our Consolidated Statements of Assets and Liabilities. Distributions The following table reflects the cash distributions per share on our common stock for the two most recent fiscal years and the current fiscal year to date: Date Declared Record Date Payment Date Amount Fiscal 2026 August 4, 2026 September 11, 2026 September 25, 2026 $ 0.31 May 5, 2026 June 12, 2026 June 26, 2026 0.31 February 24, 2026 March 13, 2026 March 27, 2026 0.41 Total 2026 $ 1.03 Fiscal 2025 November 4, 2025 December 12, 2025 December 26, 2025 $ 0.41 August 5, 2025 September 12, 2025 September 26, 2025 0.41 May 7, 2025 June 13, 2025 June 27, 2025 0.41 February 25, 2025 March 14, 2025 March 28, 2025 0.41 Total 2025 $ 1.64 Fiscal 2024 November 6, 2024 December 13, 2024 December 27, 2024 $ 0.41 August 7, 2024 September 13, 2024 September 27, 2024 0.41 May 8, 2024 June 13, 2024 June 27, 2024 0.41 February 27, 2024 March 14, 2024 March 28, 2024 0.41 Total 2024 $ 1.64 Tax characteristics of all distributions will be reported to stockholders on Form 1099 after the end of the calendar year. Future quarterly distributions, if any, will be determined by the Board. We expect that our distributions to stockholders will generally be from accumulated net investment income, net realized capital gains or non-taxable return of capital, if any, as applicable. We have elected to be taxed as a RIC under Subchapter M of the Code. To maintain our RIC tax treatment, we must distribute at least 90% of our ordinary income and realized net short-term capital gains in excess of realized net long-term capital losses, if any, out of the assets legally available for distribution. In addition, although we currently intend to distribute realized net capital gains (i.e., net long-term capital gains in excess of short-term capital losses), if any, at least annually, out of the assets legally available for such distributions, we may in the future decide to retain such capital gains for investment. We maintain an “opt out” dividend reinvestment plan for our common stockholders. As a result, if we declare a distribution, then stockholders’ cash distributions will be automatically reinvested in additional shares of our common stock, unless they specifically “opt out” of the dividend reinvestment plan so as to receive cash distributions. We may not be able to achieve operating results that will allow us to make distributions at a specific level or to increase the amount of these distributions from time to time. In addition, due to the asset coverage test applicable to us as a business development company, we may in the future be limited in our ability to make distributions. Also, the Credit Facility may limit our ability to declare distributions if we default under certain provisions. If we do not distribute a certain percentage of our income annually, we will suffer adverse tax consequences, including possible loss of the tax benefits available to us as a RIC. In addition, in accordance with GAAP 68 Table of Contents and tax regulations, we include in income certain amounts that we have not yet received in cash, such as contractual payment-in-kind income, which represents contractual income added to the loan balance that becomes due at the end of the loan term, or the accrual of original issue or market discount. Since we may recognize income before or without receiving cash representing such income, we may have difficulty meeting the requirement to distribute at least 90% of our investment company taxable income to obtain tax benefits as a RIC. With respect to the distributions to stockholders, income from origination, structuring, closing and certain other upfront fees associated with investments in portfolio companies are treated as taxable income and, accordingly, distributed to stockholders. Related Parties We have entered into a number of business relationships with affiliated or related parties, including the following: •We have entered into the Advisory Agreement with the Investment Adviser. Mr. Michael S. Gross, our Chairman, Co-Chief Executive Officer and President, and Mr. Bruce J. Spohler, our Co-Chief Executive Officer, Chief Operating Officer and board member, are managing members and senior investment professionals of, and have financial and controlling interests in, the Investment Adviser. In addition, Mr. Shiraz Y. Kajee, our Chief Financial Officer and Treasurer, serves as the Chief Financial Officer for the Investment Adviser, and Mr. Guy F. Talarico, our Chief Compliance Officer and Secretary, serves as Partner, General Counsel and Chief Compliance Officer for the Investment Adviser. •The Administrator provides us with the office facilities and administrative services necessary to conduct day-to-day operations pursuant to our Administration Agreement. We reimburse the Administrator for the allocable portion of overhead and other expenses incurred by it in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions, and the compensation of our chief compliance officer, our chief financial officer and their respective staffs. •We have entered into a license agreement with the Investment Adviser, pursuant to which the Investment Adviser has granted us a non-exclusive, royalty-free license to use the licensed marks “SOLAR” and “SLR”. The Investment Adviser may also manage other funds in the future that may have investment mandates that are similar, in whole or in part, with ours. For example, the Investment Adviser presently serves as investment adviser to SCP Private Credit Income BDC LLC, an unlisted BDC that focuses on investing primarily in senior secured loans, including non-traditional asset-based loans and first lien loans, SLR HC BDC LLC, an unlisted BDC whose principal focus is to invest directly and indirectly in senior secured loans and other debt instruments typically to middle market companies within the healthcare industry, and SLR Private Credit BDC II LLC, an unlisted BDC focused on first lien senior secured floating rate loans. In addition, Mr. Gross, our Chairman, Co-Chief Executive Officer and President, Mr. Spohler, our Co-Chief Executive Officer, Chief Operating Officer and board member, Mr. Kajee, our Chief Financial Officer and Treasurer, and Mr. Talarico, our Chief Compliance Officer and Secretary, serve in similar capacities for SCP Private Credit Income BDC LLC, SLR HC BDC LLC and SLR Private Credit BDC II LLC. The Investment Adviser and certain investment advisory affiliates may determine that an investment is appropriate for us and for one or more of those other funds. In such event, depending on the availability of such investment and other appropriate factors, the Investment Adviser or its affiliates may determine that we should invest side-by-side with one or more other funds. Any such investments will be made only to the extent permitted by applicable law and interpretive positions of the SEC and its staff, and consistent with the Investment Adviser’s allocation procedures. On June 13, 2017, the Investment Adviser received an exemptive order that permits the Company to participate in negotiated co-investment transactions with certain affiliates, in a manner consistent with the Company’s investment objective, positions, policies, strategies and restrictions as well as regulatory requirements and other pertinent factors, and pursuant to various conditions (the “Exemptive Order”). If the Company is unable to rely on the Exemptive Order for a particular opportunity, such opportunity will be allocated first to the entity whose investment strategy is the most consistent with the opportunity being allocated, and second, if the terms of the opportunity are consistent with more than one entity’s investment strategy, on an alternating basis. Although the Investment Adviser’s investment professionals will endeavor to allocate investment opportunities in a fair and equitable manner, the Company and its stockholders could be adversely affected to the extent investment opportunities are allocated among us and other investment vehicles managed or sponsored by, or affiliated with, our executive officers, directors and members of the Investment Adviser. Related party transactions may occur among us, SLR Senior Lending Program LLC, SLR Senior Lending Program SPV LLC, SLR Credit, Equipment Operating Leases LLC, KBH, Loyer Capital LLC, SLR Business Credit, SLR Healthcare ABL and SLR Equipment. These transactions may occur in the normal course of business. No administrative or other fees are paid to the Investment Adviser by SLR Senior Lending Program LLC, SLR Senior Lending Program SPV LLC, SLR Credit, Equipment Operating Leases LLC, KBH, Loyer Capital LLC, SLR Business Credit, SLR Healthcare ABL or SLR Equipment. 69 Table of Contents In addition, we have adopted a formal code of ethics that governs the conduct of our officers and directors. Our officers and directors also remain subject to the duties imposed by both the 1940 Act and the Maryland General Corporation Law.