
	Six Months Ended June 30,
Per Share Data:	2025		2024
NAV as of the beginning of the period	$	31.65	$	29.20
Net investment income (1)	1.96		1.99
Net realized gain (loss) (1)(2)	0.26		(0.10)
Net unrealized appreciation (1)(2)	0.49		0.74
Income tax provision on net realized gain and net unrealized appreciation (1)(2)	(0.03)		(0.18)
Net increase in net assets resulting from operations (1)	2.68		2.45
Dividends paid from net investment income (3)	(2.10)		(2.04)

Dividends paid (3)	(2.10)		(2.04)
Impact of the net change in monthly dividends declared prior to the end of the period and paid in the subsequent period	—		(0.01)
Accretive effect of stock offerings (issuing shares above NAV per share)	0.08		0.21
Accretive effect of DRIP issuance (issuing shares above NAV per share)	0.09		0.07
Other (4)	(0.10)		(0.08)
NAV as of the end of the period	$	32.30	$	29.80
Market value as of the end of the period	$	59.10	$	50.49
Shares outstanding as of the end of the period	89,282,595		86,552,506

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(3)MSCC’s taxable income for each period is an estimate and will not be finally determined until MSCC files its tax return for each year. As a result, the character of MSCC’s dividends and distributions for each period is also an estimate. Therefore, the final character of MSCC’s dividends and distributions may be different than this estimate.

(4)Includes the impact of the different share amounts as a result of calculating certain per share data based on the weighted-average basic shares outstanding during the period and certain per share data based on the shares outstanding as of a period end or transaction date.


	Six Months Ended June 30,
	2025			2024
	(dollars in thousands)
NAV as of the end of the period	$	2,884,217		$	2,578,956
Average NAV	$	2,840,729		$	2,524,108
Average outstanding debt	$	2,206,714		$	2,051,543

Ratios to average NAV:
Ratio of total expenses, including income tax expense, to average NAV (1)(2)	3.86		%	4.31		%
Ratio of operating expenses to average NAV (2)(3)	3.45		%	3.43		%
Ratio of operating expenses, excluding interest expense, to average NAV (2)(3)	1.20		%	1.22		%
Ratio of net investment income to average NAV (2)	6.13		%	6.75		%
Portfolio turnover ratio (2)	11.40		%	8.62		%
Total investment return (2)(4)	4.67		%	21.97		%
Total return based on change in NAV (2)(5)	8.53		%	8.47		%

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(1)Total expenses are the sum of operating expenses and all tax expenses. The total tax provision or benefit includes the accrual of net deferred tax provision or benefit relating to book versus tax differences on income at the Taxable Subsidiaries that is included in net investment income, the net unrealized appreciation or depreciation on portfolio investments held in Taxable Subsidiaries and due to the change in the loss carryforwards, which are non-cash in nature and may vary significantly from period to period. Main Street is required to include net deferred tax provision or benefit in calculating its total expenses even though these net deferred taxes are not currently payable or receivable.

(3)Unless otherwise noted, operating expenses include interest, compensation, general and administrative and share-based compensation expenses, net of expenses allocated to the External Investment Manager of $11.2 million and $11.4 million for the six months ended June 30, 2025 and 2024, respectively.

(4)Total investment return is based on the purchase of stock at the current market price on the first day and a sale at the current market price on the last day of each period reported on the table and assumes reinvestment of dividends at prices obtained by Main Street’s dividend reinvestment plan during the period. The return does not reflect any sales load that may be paid by an investor.

(5)Total return based on change in NAV was calculated using the sum of ending NAV plus dividends to stockholders and other non-operating changes during the period, divided by the beginning NAV. Non-operating changes include any items that affect NAV other than the net increase in net assets resulting from operations, such as the effects of stock offerings, shares issued under the DRIP and equity incentive plans and other miscellaneous items.