Company: OXLCZ
Filing Date: 2025-11-05
Form Type: N-CSRS
Source: 0001213900-25-106331
Chunk: 75

Company: Oxford Lane Capital Corp.
Filing Date: 2025-11-05
Form: N-CSRS
Chunk 75
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 to the Fund. Mr. Cummins, our Chief Compliance Officer, is a director of ACA Group, LLC and performs his functions under the terms of an agreement between us and ACA Group, LLC.

61 BOARD APPROVAL OF THE INVESTMENT ADVISORY AGREEMENT
(Unaudited) At an in -personmeeting of our Board of Directors held on July 22, 2025, our Board of Directors unanimously voted to re -approvethe Investment Advisory Agreement. In reaching a decision to approve the Investment Advisory Agreement, the independent directors reviewed a significant amount of information provided by Oxford Lane Management in response to a questionnaire provided by counsel to the independent directors on behalf of the independent directors and considered and concluded, among other things: •The nature, quality and extent of the advisory and other services to be provided to us by Oxford Lane Management, including with respect to the investment criteria and parameters used by Oxford Lane Management in identifying potential investment opportunities and Oxford Lane Management’s processes currently in place to monitor, manage and mitigate the risk and volatility associated with the Fund’s portfolio, and the qualifications and abilities of the professional personnel of Oxford Lane Management and the compensation structure for such personnel, and concluded Oxford Lane Management has and is expected to continue to provide a high level of quality services to the Fund and its stockholders; •The investment performance of the Fund and Oxford Lane Management including a comparison to the performance of the Fund’s peer group, and concluded that the Fund’s performance is satisfactory; •Comparative data with respect to advisory fees or similar expenses paid by other closed -endmanagement investment companies with similar investment objectives and the Fund’s historical and projected operating expenses and expense ratio compared to closed -endmanagement investment companies with similar investment objectives, and concluded that the total advisory fees paid by the Fund to Oxford Lane Management were not unreasonable; •The direct and indirect costs that might be incurred by Oxford Lane Management and its affiliates in performing services for the Fund and the basis of determining and allocating these costs, and concluded the direct and indirect costs are not unreasonable; •The possible economies of scale arising from the Fund’s size and/or anticipated growth, and concluded that the advisory fee structure is reasonable; •The experience and qualifications of the personnel performing services under the Investment Advisory Agreement, and concluded that the services to be performed and the personnel performing such services were satisfactory; •Profitability and other possible benefits to the Adviser and its affiliates arising from their relationships with the Fund, and concluded that Oxford Lane Management’s and its affiliates profitability and other benefits were not excessive with respect