SUMMARY OF PER SHARE INFORMATION

3 Months Ended

Jun. 30, 2025

The following presents a summary of per share data for the three months ended June 30, 2025 and 2024 (share amounts presented in thousands).


	Three Months Ended
	June 30,
Per Share Data:	2025			2024
Investment income (1)	$	1.04		$	1.13
Operating expenses (1)	(0.43)			(0.44)
Income taxes (1)	(0.02)			(0.06)
Net investment income (1)	0.59			0.63
Net realized gain (loss), net of tax (1)	0.29			0.02
Net unrealized (depreciation) appreciation on investments, net of tax (1)	(0.38)			(0.34)

Total increase from investment operations	0.50			0.31
Accretive effect of share issuances and repurchases	0.13			0.27
Dividends to shareholders	(0.64)			(0.63)
Issuance of restricted stock (2)	(0.10)			(0.13)
Common stock withheld for payroll taxes upon vesting of restricted stock	(0.04)			(0.07)
Share based compensation expense	0.02			0.03
Other (3)	0.02			0.05
(Decrease) increase in net asset value	(0.11)			(0.17)
Net asset value
Beginning of period	16.70			16.77
End of period	$	16.59		$	16.60

Ratios and Supplemental Data
Ratio of operating expenses to average net assets (4)	10.13		%	10.35		%
Ratio of operating expenses (excluding interest expense) to average net assets (4)	3.48		%	3.93		%
Ratio of net investment income to average net assets (4)	13.91		%	14.88		%
Portfolio turnover	5.26		%	6.22		%
Total investment return (5)	1.61		%	7.05		%
Total return based on change in NAV (6)	3.17		%	2.74		%

Per share market value at the end of the period	$	22.04		$	26.09
Weighted-average basic shares outstanding	53,517			45,665
Weighted-average diluted shares outstanding	62,777			45,665
Common shares outstanding at end of period	55,227			46,838

(1)Based on weighted average of common shares outstanding for the period.

(2)Reflects impact of the different share amounts as a result of issuance or forfeiture of restricted stock during the period.

(3)Includes the impact of the different share amounts as a result of calculating certain per share data based on the weighted-average basic shares outstanding during the period and certain per share data based on the shares outstanding as of a period end. The balance increases with the increase in variability of shares outstanding throughout the year due to share issuance and repurchase activity.

(4)The ratios reflect an annualized amount.

(5)Total investment return based on purchase of stock at the current market price on the first day and a sale at the current market price on the last day of each period reported on the table and assumes reinvestment of dividends at prices obtained by CSWC’s dividend reinvestment plan during the period. As such, the total investment return is not annualized. The return does not reflect any sales load that may be paid by an investor.

(6)Total return based on change in NAV was calculated using the sum of ending NAV plus dividends to shareholders and other non-operating changes during the period, as divided by the beginning NAV, and has not been annualized.