Company: OXLCZ
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001213900-25-007248
Chunk: 4

Company: Oxford Lane Capital Corp.
Filing Date: 2025-01-28
Form: 424B3
Chunk 4
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 from the cash distributions actually received by the Company during the period (referred to below as “CLO equity adjustments”). Furthermore, in order for the Company to continue qualifying as a regulated investment company for tax purposes, we are required, among other things, to distribute at least 90% of our investment company taxable income annually. While Core NII may provide a better indication of our estimated taxable income than GAAP NII during certain periods, we can offer no assurance that will be the case, however, as the ultimate tax character of our earnings cannot be determined until after tax returns are prepared at the close of a fiscal year. We note that this non-GAAP measure may not serve as a useful indicator of taxable earnings, particularly during periods of market disruption and volatility, and, as such, our taxable income may differ materially from our Core NII. The following table provides a reconciliation of GAAP NII to Core NII for the three months ended December 31, 2024:

|                            |     | Three Months Ended 
 December 31, 2024  |            |     |           |      |
|:---------------------------|:----|:-------------------|-----------:|:----|:----------|-----:|
|                            |     | Amount             |            |     | Per Share 
 Amount    |      |
| GAAP net investment income |     | $                  | 72,425,786 |     | $         | 0.20 |
| CLO equity adjustments     |     |                    | 27,482,067 |     |           | 0.08 |
| Core net investment income |     | $                  | 99,907,853 |     | $         | 0.28 |