In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing. As of June 30, 2026 and December 31, 2025, the Company’s asset coverage was 192.07% and 187.67%, respectively. Also, as of June 30, 2026, the Company was in compliance with all covenants and other requirements of the MS Revolving Credit Facility, SMTB Credit Facility, and BNP Revolving Credit Facility II (each as defined below). The Company’s debt obligations are recorded at carrying value, which approximates fair value.

MS Revolving Credit Facility

On February 22, 2024, Overland Financing MS, LLC, a wholly-owned financing subsidiary of the Company, entered into a senior secured revolving credit facility (the “MS Revolving Credit Facility”) with Morgan Stanley Senior Funding Inc. (“MS”). MS serves as the administrative agent, Wilmington Trust, National Association, serves as collateral agent, account bank and collateral custodian and the Company serves as a servicer under the MS Revolving Credit Facility. On June 6, 2024, November 15, 2024, and July 2, 2026 certain terms, including the applicable margins and maturity date, in the MS Revolving Credit Facility were amended.

Under the MS Revolving Credit Facility, MS has agreed to make available to Overland Financing MS, LLC, a revolving loan facility in the maximum principal amount of up to $300 million.

As of June 30, 2026 and December 31, 2025, the Company had $195 million and $195 million, respectively, in outstanding borrowings under the MS Revolving Credit Facility.

Advances under the MS Revolving Credit Facility will initially bear interest at a per annum rate equal to an applicable benchmark (which is initially the forward-looking term rate based on the SOFR, for a tenor of three (3) months, as such rate is published by the CME Group Benchmark Administration Limited (CBA)), plus an applicable margin. As amended on July 2, 2026, the applicable margin on advances is (i) during the revolving period, which is scheduled to end on July 2, 2028, 1.95% per annum, and (ii) after the end of the revolving period, 2.45% per annum.

As amended on July 2, 2026, the period during which Overland Financing MS, LLC may make borrowings under the MS Revolving Credit Facility expires on July 2, 2028 and the MS Revolving Credit Facility is scheduled to mature on July 2, 2030.

As of June 30, 2026, the Company had recorded $3,339 of cumulative deferred financing costs in connection with the MS Revolving Credit Facility.

SMTB Credit Facility

On July 10, 2024, the Company entered into a Revolving Credit Agreement (together with the exhibits and schedules thereto, the “SMTB Credit Agreement”) among the Company, as the initial borrower, Overland Advantage Feeder Fund, L.P., as the guarantor (the “Guarantor”), Overland Advantage Feeder Fund GP Ltd., as the general partner of the Guarantor, Sumitomo Mitsui Trust Bank, Limited, New York Branch (“SMTB”), as administrative agent, arranger and a lender, and NatWest Markets PLC, as a lender, which is structured as a revolving credit facility secured by a first-priority interest in the capital commitments of the Company’s Shareholders (including the Guarantor) and the Guarantor’s Shareholders, and certain related assets (the “SMTB Credit Facility”).

On December 9, 2024, certain terms, including the maximum commitments, in the SMTB Credit Facility were amended (the “First Amendment”). Among other things, the First Amendment temporarily increased the maximum commitments under the SMTB Credit Facility from $100 million to $200 million until March 31, 2025, after which the maximum commitments under the SMTB Credit Facility will be automatically reduced to $100 million. On February 14, 2025, certain terms, including the applicable margin, in the SMTB Credit Facility were amended (the “Second Amendment”). On March 26, 2025, the scheduled reduction date on the $100 million temporary increased commitment was extended from March 31, 2025 to June 30, 2025 (the “Third Amendment”).

On May 1, 2025, the Company entered into a form of facility increase, pursuant to which the maximum commitments under the SMTB Credit Facility (including the $100 million temporary increased commitment) increased from $200 million to $275 million.

On June 27, 2025, the maximum commitments under the SMTB Credit Facility were permanently increased to $400 million (the “Fourth Amendment”). Under the terms of the SMTB Credit Facility, the Company and SMTB can agree to further increase the maximum commitments to up to $700 million.

On August 13, 2025, the Company entered into an amendment (the “Fifth Amendment”) to the SMTB Credit Facility. Among other things, the Fifth Amendment (a) incorporated term loan tranche mechanics and reallocated $200 million of the $400 million maximum commitment (“SMTB Revolving Tranche”) under the SMTB Credit Facility to a new term loan tranche (the “SMTB Term Loan Tranche”) and (b) incorporated an applicable margin of 1.95% for term loans based on Term SOFR. The Company has the option under the SMTB Credit Facility to increase the aggregate maximum commitment to up to $700 million, and allocate between the SMTB Term Loan Tranche and the SMTB Revolving Tranche at the Company’s discretion.

On October 30, 2025, the Company entered into an amendment to the SMTB Credit Facility (the “Sixth Amendment”), which, among other things, incorporated a new $500 million uncommitted tranche and amended certain terms, including (a) reducing the applicable margin from (i) 1.25% to 0.75% for revolving loans based on the alternate base rate, (ii) 2.25% to 1.75% for revolving loans based on the Term SOFR rate and (iii) 1.95% to 1.60% for term loans based on the Term SOFR rate and (b) extending the maturity date from July 10, 2026 to April 29, 2027.

As of June 30, 2026 and December 31, 2025, the Company had $505 million and $497 million, respectively, in outstanding borrowings under the SMTB Credit Facility.

The “Borrowing Base” is calculated as an advance rate multiplied by the unfunded capital commitments of Shareholders in the Company that meet certain credit-related criteria and, in certain circumstances, have been approved for inclusion in the Borrowing Base by SMTB and/or the other lenders. The advance rate with respect to each Shareholder is 65%, 80% or 90% depending on the level of approval and criteria satisfied by such Shareholder. The SMTB Credit Facility contains certain customary affirmative and negative covenants and events of default.

As of June 30, 2026 and December 31, 2025, the Company had $232 million and $297 million, respectively, in outstanding borrowings under the SMTB Revolving Tranche.

As of June 30, 2026, the Company had recorded $2,269 of cumulative deferred financing costs in connection with the SMTB Credit Facility.

As of June 30, 2026 and December 31, 2025, the Company had $273 million and $200 million, respectively, in outstanding borrowings under the SMTB Term Loan Tranche.

As of June 30, 2026, the Company had recorded $1,320 of cumulative deferred financing costs in connection with the SMTB Term Loan Tranche.

BNP Revolving Credit Facility I

On December 17, 2024, Overland Financing B, LLC, a wholly-owned financing subsidiary of the Company, entered into a revolving credit facility (the “BNP Revolving Credit Facility I”) with BNP Paribas SA (“BNP”). BNP serves as the lender, Wilmington Trust, National Association, serves as collateral agent, account bank and collateral custodian and the Company serves as guarantor under the BNP Revolving Credit Facility I.

Under the BNP Revolving Credit Facility I, BNP has agreed to make available to Overland Financing B, LLC, a revolving loan facility in the maximum facility amount of $340 million from January 2, 2025 through March 31, 2025, a maximum facility amount of $330 million from April 1, 2025 through June 30, 2025, a maximum facility amount of $270 million from July 1, 2025 through September 30, 2025 and, as extended, a maximum facility amount of $139 million from October 1, 2025 through December 31, 2025.

On September 26, 2025, the BNP Revolving Credit Facility I was amended to extend the maturity date to December 31, 2025 and to make certain other conforming changes.

On December 2, 2025, the BNP Revolving Credit Facility I was terminated and all amounts outstanding thereunder were repaid.

As of June 30, 2026 and December 31, 2025, the Company had no outstanding borrowings under the BNP Revolving Credit Facility I.

Advances under the BNP Revolving Credit Facility I will bear interest at a rate equal to the applicable benchmark (which is initially the forward-looking term rate based on the SOFR to the three month secured overnight financing rate) plus an applicable margin of 1.45% per annum. The BNP Revolving Credit Facility I also includes a commitment fee payable each calendar quarter, at a rate per annum equal to (a) for any calendar quarter in which the average principal obligations is less than or equal to 50% of the committed facility amount, 0.70%, (b) for any calendar quarter in which the average principal obligations is greater than 50% of the committed facility amount but less than or equal to 65% of the committed facility amount, 0.30%, (c) for any calendar quarter in which the average principal obligations is greater than 65% of the committed facility amount but less than or equal to 75% of the committed facility amount, 0.20% and (d) for any calendar quarter in which the average principal obligations is greater than 75% of the committed facility amount, 0.00%.

As of June 30, 2026, the Company had recorded $429 of cumulative deferred financing costs in connection with the BNP Revolving Credit Facility I. All deferred financing costs were fully amortized upon the termination of the facility.

BNP Revolving Credit Facility II

On December 2, 2025, Overland Financing C, LLC, a wholly-owned financing subsidiary of the Company, entered into a senior secured revolving credit agreement (the “BNP Credit Agreement” and, such facility, the “BNP Revolving Credit Facility II”) with BNP. BNP serves as the administrative agent, U.S. Bank Trust Company, National Association, serves as collateral agent and the Company serves as a servicer under the BNP Revolving Credit Facility II.

Under the BNP Revolving Credit Facility II, BNP has agreed to make available to Overland Financing C, LLC, a revolving loan facility in the maximum principal amount of up to $400 million subject to additional increases.

As of June 30, 2026 and December 31, 2025, the Company had $146 million and $139 million, respectively, in outstanding borrowings under the BNP Revolving Credit Facility II.

Advances under the BNP Revolving Credit Facility II will initially bear interest at a per annum rate equal to the three (3) month term secured overnight financing rate, plus an applicable margin. The applicable margin on advances is (i) prior to the six (6) month anniversary of the closing date, the weighted average applicable margin (calculated by (A) summing the products obtained by multiplying(x) the margin (with a range of 1.45% to 1.95% per annum based on the type of eligible collateral loan) of each eligible collateral loan by (y) such eligible collateral loan’s contribution to the aggregate net collateral balance and dividing such sum by (B) the aggregate net collateral balance), (ii) on or after the six (6) month anniversary of the closing date, but prior to the nine (9) month anniversary of the closing date, the greater of (x) the weighted average applicable margin and (y) 1.85% per annum, and (iii) on or after the nine (9) month anniversary of the closing date, 1.95% per annum.

The period during which Overland Financing C, LLC may make borrowings under the BNP Revolving Credit Facility II expires on December 2, 2028, and the BNP Revolving Credit Facility II is scheduled to mature on December 2, 2030.

As of June 30, 2026, the Company had recorded $3,382 of cumulative deferred financing costs in connection with the BNP Revolving Credit Facility II.

Secured Borrowing Agreement

In order to finance certain investment transactions, the Company may, from time to time, enter into secured borrowing agreements with Macquarie Bank Limited (“Macquarie”), whereby the Company sells to Macquarie an investment that it holds and concurrently enters into an agreement to repurchase the same investment at an agreed-upon price at a future date, up to 90-days from the date it was sold (each a “Macquarie Transaction”).

On December 19, 2024, the Company entered into a Macquarie Transaction that was collateralized by the Company’s term loan to CV Borrower, LLC. In accordance with ASC Topic 860, Transfers and Servicing, this Macquarie Transaction meets the criteria for a secured borrowing. Accordingly, the investment financed by the Macquarie Transaction remains on the Company’s Statements of Assets and Liabilities as an asset, and the Company records a liability to reflect its repurchase obligation to Macquarie (the “December 2024 Secured Borrowing”). Interest under the December 2024 Secured Borrowing was calculated as the three month SOFR rate in effect at the time of the borrowing, plus the applicable margin of 2.95%. On February 3, 2025, the Company repaid its December 2024 Secured Borrowing obligation to Macquarie.

On June 10, 2025, the Company entered into a Macquarie Transaction that was collateralized by the Company’s term loans to CV Borrower, LLC and SGA Dental Partners OPCO, LLC. In accordance with ASC Topic 860, Transfers and Servicing, this Macquarie Transaction meets the criteria for a secured borrowing. Accordingly, the investment financed by the Macquarie Transaction remains on the Company’s Statements of Assets and Liabilities as an asset, and the Company records a liability to reflect its repurchase obligation to Macquarie (the “June 2025 Secured Borrowing” and together with the December 2024 Secured Borrowing, the “Secured Borrowings”). Interest under the June 2025 Secured Borrowing was calculated as the interpolated one and a half month term SOFR rate in effect at the time of the borrowing, plus the applicable margin of 2.95%. On July 3, 2025, the Company repaid its June 2025 Secured Borrowing obligation to Macquarie.

As of June 30, 2026 and December 31, 2025, the Company had no outstanding Secured Borrowings.

No interest expense was incurred related to the Secured Borrowings for the three and six months ended June 30, 2026. The amount of interest expense incurred related to the Secured Borrowings for the three and six months ended June 30, 2025 $251 and $370, respectively.