The following per share data and ratios have been derived from information provided in the consolidated financial statements. The following are the financial highlights for one share of common stock outstanding during the years ended December 31, 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, and 2016:


	For the Years Ended December 31,
	2025			2024			2023			2022			2021			2020			2019			2018			2017			2016
Per Share Data (7)(8)
Net asset value, beginning of period	$	17.16		$	17.04		$	16.48		$	16.84		$	17.16		$	16.83		$	16.25		$	16.09		$	15.95		$	15.15

Net investment income (1)		2.23			2.39			2.31			2.13			1.97			2.19			1.94			2.25			2.00			1.83
Net realized and unrealized gains (losses) (1)		(0.42	)		(0.36	)		0.30			(0.75	)		0.96			0.46			0.40			(0.39	)		(0.14	)		0.51
Total from operations		1.81			2.03			2.61			1.38			2.93			2.65			2.34			1.86			1.86			2.34
Issuance of common stock, net of offering costs (2)		0.06			0.18			0.05			0.04			0.31			0.01			0.04			0.08			0.03			0.03
Settlement of 2022 Convertible Notes (2)		—			—			—			0.08			0.03			—			—			—			—			—
Repurchase of common stock (2)		—			—			—			(0.02	)		—			0.01			—			—			—			—
Repurchase of debt (2)		—			—			—			—			—			(0.01	)		—			—			—			—
Dividends declared (2)		(2.05	)		(2.09	)		(2.10	)		(1.84	)		(3.59	)		(2.30	)		(1.81	)		(1.78	)		(1.75	)		(1.56	)
Total increase/(decrease) in net assets		(0.18	)		0.12			0.56			(0.36	)		(0.32	)		0.33			0.58			0.16			0.14			0.81
Net Asset Value, End of Period	$	16.98		$	17.16		$	17.04		$	16.48		$	16.84		$	17.16		$	16.83		$	16.25		$	16.09		$	15.95
Per share market value at end of period	$	21.72		$	21.30		$	21.60		$	17.80		$	23.39		$	20.75		$	21.47		$	18.09		$	19.80		$	18.68
Total return based on market value with reinvestment of dividends (3)		12.05	%		9.33	%		35.68	%	(15.78)%				32.80	%		11.24	%		30.57	%		4.24	%		15.75	%		26.74	%
Total return based on market value (4)		11.60	%		8.29	%		33.14	%	(16.03)%				30.02	%		7.36	%		28.69	%		0.35	%		15.36	%		24.78	%
Total return based on net asset value (5)		10.90	%		12.98	%		16.09	%		8.79	%		19.06	%		15.63	%		14.71	%		12.06	%		11.87	%		15.54	%
Shares Outstanding, End of Period		94,705,150			93,661,436			87,829,499			81,389,287			75,771,542			67,684,209			66,524,591			65,412,817			60,247,201			59,716,205
Ratios / Supplemental Data (6)
Ratio of net expenses to average net assets		14.84	%		16.65	%		16.92	%		11.05	%		11.17	%		11.10	%		11.27	%		11.32	%		9.41	%		9.39	%
Ratio of net investment income to average net assets		13.04	%		13.96	%		13.75	%		12.85	%		11.67	%		13.26	%		11.73	%		13.80	%		12.49	%		11.84	%
Portfolio turnover		32.98	%		24.44	%		16.92	%		26.67	%		44.23	%		41.88	%		30.89	%		44.57	%		58.08	%		37.40	%
Net assets, end of period	$	1,607,721		$	1,607,529		$	1,496,375		$	1,341,569		$	1,275,848		$	1,161,315		$	1,119,297		$	1,063,202		$	969,284		$	952,212

(1)

The per share data was derived by using the weighted average shares outstanding during the period.

(2)

The per share data was derived by using the actual shares outstanding at the date of the relevant transactions.

(3)

Total return based on market value with dividends reinvested is calculated as the change in market value per share during the period plus declared dividends per share, assuming reinvestment of dividends, divided by the beginning market value per share.

(4)

Total return based on market value is calculated as the change in market value per share during the period plus declared dividends per share, divided by the beginning market value per share.

(5)

Total return based on net asset value is calculated as the change in net asset value per share during the period plus declared dividends per share, divided by the beginning net asset value per share.

(6)

The ratios reflect an annualized amount.

(7)

The ratio of net expenses to average net assets in the table above reflects the Adviser’s waivers of its right to receive a portion of the Management Fee pursuant to the Leverage Waiver for the year ended December 31, 2025. Excluding the effects of the waivers, the ratio of net expenses to average net assets would have been 14.92%, 16.75%, 17.00%, 11.08%, 11.19% and 11.33% for the years ended December 31, 2025, 2024, 2023, 2022, 2021 and 2018, respectively. The ratio of net expenses to average net assets in the table above reflects the Adviser’s waivers of its right to receive a portion of the Management Fee pursuant to the Leverage Waiver for the years ended December 31, 2024, 2023, 2022 and 2021 and the Adviser’s waivers of its right to receive a portion of the Management and Incentive Fees with respect to the Company’s ownership of shares of common stock of Oxford Square Capital Corp. and Triangle Capital Corp. for the year ended December 31, 2018. The Adviser did not waive any Management Fees or Incentive Fees for the years ended December 31, 2020 and 2019. Excluding the effects of the waivers, the ratio of net expenses to average net assets would have been 9.42% and 9.43% for the years ended December 31, 2017 and 2016, respectively.

(8)

Table may not sum due to rounding.