CONSOLIDATED FINANCIAL HIGHLIGHTS

12. CONSOLIDATED FINANCIAL HIGHLIGHTS

The following is a schedule of consolidated financial highlights for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
	2026		2025
Per Common Share Data:
Net asset value per common share, beginning of period	$	16.26	$	16.80
Net investment income (loss)(1)	0.36		0.40
Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments, non-investment assets and liabilities, and forward currency contracts	(0.42)		(0.15)
Net increase (decrease) in net assets resulting from operations	(0.06)		0.25
Dividends declared(2)	(0.40)		(0.45)
Accretion due to issuance of common stock(3)	—		0.03
Accretion due to share repurchases	0.09		—

Net asset value per common share, end of period	$	15.89	$	16.63
Market price per common share, end of period	$	10.94	$	16.18
Number of common shares outstanding, end of period	70,270,936		72,902,981
Total return based on net asset value(4)	0.76%		1.40%
Total return based on market price(5)	(9.69)%		(7.56)%
Net assets attributable to Common Stockholders, end of period	$	1,116,561	$	1,212,389
Ratio to average net assets attributable to Common Stockholders(6):
Expenses before incentive fees	2.94%		2.79%
Expenses after incentive fees	3.40%		3.21%

Net investment income (loss)	2.21%		2.09%
Interest expense and credit facility fees	1.91%		1.80%
Ratios/Supplemental Data:
Asset coverage, end of period	180.02%		196.28%
Portfolio turnover	9.94%		16.45%
Weighted-average common shares outstanding	70,907,909		51,923,228

(1)Net investment income (loss) per common share was calculated as net investment income (loss) less the preferred dividend for the period divided by the weighted average number of common shares outstanding for the period.

(2)Dividends declared per common share was calculated as the sum of dividends on common stock declared during the period divided by the number of common shares outstanding at each respective quarter-end date (refer to Note 11, Net Assets, to these unaudited consolidated financial statements).

(3)Represents accretion from shares issued upon completion of the CSL III Merger, dividend reinvestment plan and the ATM program, net of underwriting and issuance costs incurred in the ATM program.

(4)Total return based on net asset value (not annualized) is based on the change in net asset value per common share during the period plus the declared dividends on common stock, assuming reinvestment of dividends in accordance with the dividend reinvestment plan, divided by the beginning net asset value for the period.

(5)Total return based on market value (not annualized) is calculated as the change in market value per common share during the period plus the declared dividends on common stock, assuming reinvestment of dividends in accordance with the dividend reinvestment plan, divided by the beginning market price for the period.

(6)These ratios to average net assets attributable to Common Stockholders have not been annualized.