X0306 4 2020-03-12 0 0001495222 Oxford Lane Capital Corp. OXLC 0001268529 ROSENTHAL SAUL B C/O OXFORD LANE CAPITAL CORP. 8 SOUND SHORE DRIVE, SUITE 255 GREENWICH CT 06830 1 1 0 0 President Common Stock 2020-03-12 4 P 0 31000 4.9980 A 161000 D 7.50% Series 2023 Term Preferred Stock 2020-03-12 4 J 0 14011 25.0572 D 28211 D Common Stock 2020-03-13 4 P 0 1700 5.0465 A 162700 D The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $4.89 to $5.05, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote. On March 12, 2020 (the "Redemption Date"), Oxford Lane Capital Corp. (the "Issuer") redeemed 1,200,000 of the outstanding shares of the Issuer's 7.50% Series 2023 Term Preferred Stock (the "Shares"), which is traded on the NASDAQ Global Select Market under the ticker OXLCO, for a redemption price of $25.05729167, which represents the liquidation preference price of $25 per Share plus accrued but unpaid dividends of $0.05729167 per Share. 14,011 Shares beneficially owned by Mr. Rosenthal were redeemed as part of this redemption by the Issuer. The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $5.04 to $5.05, inclusive. the reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Excange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote. /s/ Saul B. Rosenthal 2020-03-16