9. Net Assets

Share Issuances

Distributions

On March 24, 2026, the Board declared a distribution on the Shares, which was paid on April 30, 2026 to shareholders of record as of the close of business on March 30, 2026 (the “Q1 2026 Distribution”). The amount of the Q1 2026 Distribution equaled $0.59 per Share and was paid in cash or reinvested in additional Shares for shareholders participating in the Company’s DRIP. 608,290 Shares were issued in April 2026 in connection with the Company’s DRIP for the Q1 2026 Distribution.

On May 7, 2026, the Board declared a distribution on the Shares, which was paid on July 31, 2026 to shareholders of record as of the close of business on June 29, 2026 (the “Q2 2026 Distribution”). The amount of the Q2 2026 Distribution equaled $0.54 per Share and was paid in cash or reinvested in additional Shares for shareholders participating in the Company’s DRIP. 675,220 Shares were issued in July 2026 in connection with the Company’s DRIP for the Q2 2026 Distribution.

During the three and six months ended June 30, 2026, the Company issued 608,015 and 1,277,114 Shares in connection with the DRIP for an aggregate amount of $15,762 and $33,182, respectively. During the three and six months ended June 30, 2025, the Company issued 510,957 and 936,231 Shares in connection with the DRIP for an aggregate amount of $13,290 and $24,347, respectively.

Discretionary Share Repurchase Program

Beginning with the quarter ended December 31, 2023, the Company commenced a share repurchase program, in which the Company intends, subject to market conditions and the discretion of the Board, to offer to repurchase, in each quarter, up to 5% of the Shares outstanding (either by number of shares or aggregate NAV) as of the close of the previous calendar quarter. The Board may amend or suspend the share repurchase program at any time if in its reasonable judgment it deems such action to be in the Company’s best interest and the best interest of the Company’s shareholders. As a result, share repurchases may not be available each quarter, such as when a repurchase offer would place an undue burden on the Company’s liquidity, adversely affect the Company’s operations or risk having an adverse impact on the Company that would outweigh the benefit of the repurchase offer. In the event the amount of Shares tendered exceeds the repurchase offer amount, Shares will be repurchased on a pro rata basis. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the 1940 Act. All Shares purchased by the Company pursuant to the terms of each repurchase offer will be retired and thereafter will be authorized and unissued Shares.

Under the share repurchase program, to the extent the Company offers to repurchase Shares in any particular quarter, the Company expects to repurchase Shares using a purchase price equal to the NAV per share as of the last calendar day of the applicable quarter (the “Valuation Date”). If shareholders tender Shares in a repurchase offer with a Valuation Date that is within the 12-month period following the initial issue date of their tendered Shares, the Company may repurchase such Shares subject to an “early repurchase deduction” of 2% of the aggregate NAV of the Shares repurchased (an “Early Repurchase Deduction”). The Early Repurchase Deduction will be retained by the Company for the benefit of remaining shareholders. Shares may be sold to certain feeder vehicles primarily created to hold the Shares that in turn offer interests in such feeder vehicles to non-U.S. persons. For such feeder vehicles and similar arrangements in certain markets, the Company may not apply the Early Repurchase Deduction to the feeder vehicles or underlying investors, often because of administrative or systems limitations.

In the event that any shareholder fails to maintain a minimum balance of $500 (not in thousands) of the Company’s Shares, the Company may repurchase all of the Shares held by that shareholder at the repurchase price in effect on the date the Company determines that the shareholder has failed to meet the minimum balance, less any Early Repurchase Deduction. In the alternative, the Company reserves the right to reduce the number of Shares requested to be repurchased from a shareholder so that the required account balance is maintained. Minimum account repurchases will apply even in the event that the failure to meet the minimum balance is caused solely by a decline in the Company’s NAV. Minimum account repurchases are subject to an Early Repurchase Deduction.

On February 4, 2026, the Company offered to purchase up to 3,580,981 Shares at a purchase price equal to the NAV per Share as of March 31, 2026 (the “February 2026 Repurchase Offer”), upon the terms and subject to the conditions set forth in the offer to purchase for the February 2026 Repurchase Offer. The February 2026 Repurchase Offer expired on March 4, 2026 and no Shares were tendered by the Company's direct shareholders in connection with the February 2026 Repurchase Offer.

On May 1, 2026, the Company offered to purchase up to 4,028,912 Shares at a purchase price equal to the NAV per Share as of June 30, 2026 (the “May 2026 Repurchase Offer”), upon the terms and subject to the conditions set forth in the offer to purchase for the May 2026 Repurchase Offer. The May 2026 Repurchase Offer expired on May 29, 2026 and no Shares were tendered by the Company's direct shareholders in connection with the May 2026 Repurchase Offer.

During the three and six months ended June 30, 2026, the Company did not repurchase any Shares pursuant to its discretionary share repurchase program.

During the three and six months ended June 30, 2025, the Company repurchased 0 and 288,512 Shares, respectively, pursuant to its discretionary share repurchase program.