----

|                       |
|-----------------------|
|                       |  |  |
|                  |   | Page |
| Financial Statements: |   |
|                  | Reports of Independent Auditors | 1 |
|                  | Consolidated Statements of Assets, Liabilities and Members' Capital as of September 30, 2018 and 2017 | 3 |
|                  | Consolidated Statements of Operations for the years ended September 30, 2018, 2017 and 2016 | 4 |
|                  | Consolidated Statements of Changes in Members' Capital for the years ended September 30, 2018, 2017 and 2016 | 5 |
|                  | Consolidated Statements of Cash Flows for the years ended September 30, 2018, 2017 and 2016 | 6 |
|                  | Consolidated Schedule of Investments as of September 30, 2018 | 7 |
|                  | Consolidated Schedule of Investments as of September 30, 2017 | 10 |
|                  | Notes to Consolidated Financial Statements | 13 |

----

----

----

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |
|                                         |   | September 30, 2018 |   | September 30, 2017* |
|                                         | ASSETS |   |   |   |
|                                         | Investments at fair value (cost September 30, 2018: $159,310,299; cost September 30, 2017: $116,978,489) | $ | 160,260,951 |  |   | $ | 108,737,459 |  |
|                                         | Cash and cash equivalents | 2,055,935 |  |   | 13,891,899 |  |
|                                         | Restricted cash | 2,036,487 |  |   | 2,249,575 |  |
|                                         | Due from portfolio companies | 53,006 |  |   | 7,653 |  |
|                                         | Interest receivable | 654,108 |  |   | 234,006 |  |
|                                         | Deferred financing costs | 1,127,394 |  |   | 1,557,071 |  |
| Total assets                                 | $ | 166,187,881 |  |   | $ | 126,677,663 |  |
|                                         |   |   |   |
| LIABILITIES AND MEMBERS' CAPITAL             |   |   |   |
| Liabilities:                                 |   |   |   |
|                                         | Accounts payable, accrued expenses and other liabilities | $ | 65,273 |  |   | $ | 160,601 |  |
|                                         | Due to affiliate | 36,655 |  |   | — |  |
|                                         | Interest payable | 2,578,380 |  |   | 2,440,588 |  |
|                                         | Payables from unsettled transactions | 996,244 |  |   | — |  |
|                                         | Distribution payable | 1,358,336 |  |   | 1,358,336 |  |
|                                         | Senior credit facility payable | 94,281,939 |  |   | 56,881,939 |  |
|                                         | Subordinated notes payable at fair value (proceeds September 30, 2018: $75,874,536; proceeds September 30, 2017: $73,404,435) | 66,871,054 |  |   | 65,836,199 |  |
| Total liabilities                            | 166,187,881 |  |   | 126,677,663 |  |
| Members’ capital                       | — |  |   | — |  |
| Total liabilities and members’ capital | $ | 166,187,881 |  |   | $ | 126,677,663 |  |

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|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                        |   | Year ended September 30, 2018 |   | Year ended September 30, 2017* |   | Year ended September 30, 2016 |
| Investment income:                                                          |   |   |   |   |   |
|                                                                        | Interest income | $ | 9,823,972 |  |   | $ | 11,148,203 |  |   | $ | 14,109,946 |  |
|                                                                        | PIK interest income | — |  |   | 53,620 |  |   | 33,170 |  |
|                                                                        | Fee income | 77,999 |  |   | 160,984 |  |   | 95,756 |  |
|                                                                        | Total investment income | 9,901,971 |  |   | 11,362,807 |  |   | 14,238,872 |  |
| Expenses:                                                                   |   |   |   |   |   |
|                                                                        | Interest expense | 11,433,877 |  |   | 11,055,880 |  |   | 10,780,919 |  |
|                                                                        | Professional fees | 171,759 |  |   | 175,353 |  |   | 152,534 |  |
|                                                                        | General and administrative expenses | 40,115 |  |   | 49,207 |  |   | 54,833 |  |
|                                                                        | Total expenses | 11,645,751 |  |   | 11,280,440 |  |   | 10,988,286 |  |
| Net investment income (loss)                                                | (1,743,780 | ) |   | 82,367 |  |   | 3,250,586 |  |
| Net realized and unrealized gain (loss):                                    |   |   |   |   |   |
|                                                                        | Net unrealized appreciation (depreciation) on investments and receivable from secured financing arrangement | 9,191,682 |  |   | (2,324,377 | ) |   | (3,742,420 | ) |
|                                                                        | Net realized loss on investments | (8,883,148 | ) |   | (3,873,454 | ) |   | (3,119,735 | ) |
|                                                                        | Net unrealized (appreciation) depreciation on subordinated notes payable | 1,435,246 |  |   | (569,031 | ) |   | 7,574,694 |  |
|                                                                        | Total net realized and unrealized gain (loss) | 1,743,780 |  |   | (6,766,862 | ) |   | 712,539 |  |
| Net increase (decrease) in members’ capital resulting from operations | $ | — |  |   | $ | (6,684,495 | ) |   | $ | 3,963,125 |  |

----

|                                                                       |
|-----------------------------------------------------------------------|
|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                  |   | Oaktree Strategic Income Corporation |   | GF Equity Funding 2014 LLC |   | Total Members’ Capital |
| Members’ capital, September 30, 2015                            |   | $ | 4,476,824 |  |   | $ | 639,546 |  |   | $ | 5,116,370 |  |
| Capital contributions                                                 |   | 1,229,375 |  |   | 175,625 |  |   | 1,405,000 |  |
| Distributions                                                         |   | (2,712,500 | ) |   | (387,500 | ) |   | (3,100,000 | ) |
| Net increase in members' capital resulting from operations            |   | 3,467,734 |  |   | 495,391 |  |   | 3,963,125 |  |
| Members’ capital, September 30, 2016                            |   | $ | 6,461,433 |  |   | $ | 923,062 |  |   | $ | 7,384,495 |  |
| Distributions*                                                        |   | (612,500 | ) |   | (87,500 | ) |   | (700,000 | ) |
| Net decrease in members' capital resulting from operations*           |   | (5,848,933 | ) |   | (835,562 | ) |   | (6,684,495 | ) |
| Members’ capital, September 30, 2017*                           |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Net increase (decrease) in members' capital resulting from operations |   | — |  |   | — |  |   | — |  |
| Members’ capital, September 30, 2018                            |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Remaining capital commitment, September 30, 2018                      |   | $ | 1,638,249 |  |   | $ | 234,036 |  |   | $ | 1,872,285 |  |

----

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                 |   |   |   | Year ended September 30, 2018 |   | Year ended September 30, 2017* |   | Year ended September 30, 2016 |
|                                                 | Cash flows from operating activities: |   |   |   |   |   |
|                                                 | Net increase (decrease) in members' capital resulting from operations |   | $ | — |  |   | $ | (6,684,495 | ) |   | $ | 3,963,125 |  |
|                                                 | Adjustments to reconcile net increase (decrease) in members’ capital resulting from operations to net cash provided by (used in) operating activities: |   |   |   |   |   |   |
|                                                 |   | Net unrealized (appreciation) depreciation on investments and receivable from secured financing arrangement |   | (9,191,682 | ) |   | 2,324,377 |  |   | 3,742,420 |  |
|                                                 | Net realized loss on investments |   | 8,883,148 |  |   | 3,873,454 |  |   | 3,119,735 |  |
|                                                 |   | Net unrealized appreciation (depreciation) on subordinated notes payable |   | (1,435,246 | ) |   | 569,031 |  |   | (7,574,694 | ) |
|                                                 |   | PIK interest income |   | — |  |   | (53,620 | ) |   | (33,170 | ) |
|                                                 |   | Accretion of original issue discount/premium on investments |   | (609,152 | ) |   | (841,047 | ) |   | (808,381 | ) |
|                                                 |   | Recognition of fee income |   | — |  |   | (2,306 | ) |   | 2,306 |  |
|                                                 |   | PIK interest expense |   | 2,470,101 |  |   | 255,001 |  |   | — |  |
|                                                 |   | Amortization of deferred financing costs |   | 435,927 |  |   | 283,103 |  |   | 283,104 |  |
|                                                 |   | Purchases of investments |   | (122,034,536 | ) |   | (9,056,696 | ) |   | (66,774,005 | ) |
|                                                 |   | Principal payments received on investments |   | 59,674,325 |  |   | 68,343,987 |  |   | 52,870,383 |  |
|                                                 |   | Proceeds from sale of investments |   | 11,754,405 |  |   | 20,368,037 |  |   | 3,123,705 |  |
|                                                 | Changes in operating assets and liabilities: |   |   |   |   |   |   |
|                                                 |   | Increase in receivable from secured financing arrangement |   | — |  |   | — |  |   | (4,985,500 | ) |
|                                                 |   | (Increase) decrease in restricted cash |   | 213,088 |  |   | 1,093,728 |  |   | (1,155,170 | ) |
|                                                 |   | (Increase) decrease in receivable from unsettled transactions |   | — |  |   | 952,591 |  |   | (952,591 | ) |
|                                                 |   | Increase in due from portfolio companies |   | (45,353 | ) |   | (7,653 | ) |   | — |  |
|                                                 |   | (Increase) decrease in interest receivable |   | (420,102 | ) |   | 88,762 |  |   | (187,358 | ) |
|                                                 |   | Decrease in other assets |   | — |  |   | — |  |   | 4,375 |  |
|                                                 |   | Increase (decrease) in interest payable |   | 137,792 |  |   | (85,602 | ) |   | 701,147 |  |
|                                                 |   | Increase (decrease) in accounts payable, accrued expenses and other liabilities |   | (95,328 | ) |   | 30,582 |  |   | 100,019 |  |
|                                                 |   | Increase in due to affiliate |   | 36,655 |  |   | — |  |   | — |  |
|                                                 |   | Increase in payables from unsettled transactions |   | 996,244 |  |   | — |  |   | — |  |
|                                                 | Net cash provided by (used in) operating activities |   | (49,229,714 | ) |   | 81,451,234 |  |   | (14,560,550 | ) |
|                                                 | Cash flows from financing activities: |   |   |   |   |   |   |
|                                                 |   | Capital contributions received |   | — |  |   | — |  |   | 1,282,500 |  |
|                                                 |   | Distributions paid |   | — |  |   | (806,243 | ) |   | (2,470,421 | ) |
|                                                 |   | Issuance of subordinated notes |   | — |  |   | — |  |   | 11,366,252 |  |
|                                                 |   | Borrowings under senior credit facility |   | 51,900,000 |  |   | — |  |   | — |  |
|                                                 |   | Repayments under senior credit facility |   | (14,500,000 | ) |   | (67,733,697 | ) |   | 2,235,000 |  |
|                                                 |   | Deferred financing costs paid |   | (6,250 | ) |   | — |  |   | — |  |
|                                                 | Net cash provided by (used in) financing activities |   | 37,393,750 |  |   | (68,539,940 | ) |   | 12,413,331 |  |
| Net increase (decrease) in cash and cash equivalents |   | (11,835,964 | ) |   | 12,911,294 |  |   | (2,147,219 | ) |
|                                                 | Cash and cash equivalents, beginning of period |   | 13,891,899 |  |   | 980,605 |  |   | 3,127,824 |  |
| Cash and cash equivalents, end of period             |   | $ | 2,055,935 |  |   | $ | 13,891,899 |  |   | $ | 980,605 |  |
| Supplemental information:                            |   |   |   |   |   |
|                                                 |   | Cash paid for interest |   | $ | 8,390,056 |  |   | $ | 10,603,378 |  |   | $ | 9,796,668 |  |
| Non-cash operating activities:                       |   |   |   |   |
|                                                 |   | Non-cash exchange of investments |   | $ | — |  |   | $ | — |  |   | $ | 1,225,000 |  |
|                                                 |   | Non-cash investment restructuring |   | $ | — |  |   | $ | — |  |   | $ | 2,293,945 |  |
|                                                 |   | Non-cash purchases of investment |   | $ | — |  |   | $ | (4,985,500 | ) |   | $ | — |  |
|                                                 |   | Non-cash decrease in receivable from secured financing arrangement |   | $ | — |  |   | $ | 4,985,500 |  |   | $ | — |  |
| Non-cash financing activities:                       |   |   |   |   |
|                                                 |   | Non-cash capital contributions |   | $ | — |  |   | $ | — |  |   | $ | 122,500 |  |
|                                                 |   | Non-cash issuance of subordinated notes |   | $ | 2,470,101 |  |   | $ | 255,001 |  |   | $ | 1,102,500 |  |

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|                                                                           |
|---------------------------------------------------------------------------|
|                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Portfolio Company /Type of Investment (1)(2)                        |  Region (3) |  Industry |   |  Cash Interest Rate (2) |   |  Principal  (4) |   |  Cost |   |  Fair Value |
| AI Ladder (Luxembourg) Subco S.a.r.l                                      |  International |  Electrical components & equipment |   |   |   |   |   |   |   |   |
| First Lien Term Loan B, LIBOR+4.5% cash due 7/9/2025                      |   |   |   | 7.02 | % |   | $ | 5,000,000 |  |   | $ | 4,853,898 |  |   | $ | 5,029,700 |  |
|                                                                      |   |   |   |   |   |   |   | 4,853,898 |  |   | 5,029,700 |  |
|  Air Newco LLC                                                       |  International |  IT consulting & other services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+4.75% cash due 5/31/2024 (5)          |   |   |   | 7.03 | % |   | 7,500,000 |  |   | 7,481,250 |  |   | 7,575,000 |  |
|                                                                      |   |   |   |   |   |   |   | 7,481,250 |  |   | 7,575,000 |  |
|  AL Midcoast Holdings LLC                                            |  Southwest |  Oil & gas storage & transportation |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+5.5% cash due 8/1/2025                |   |   |   | 7.84 | % |   | 7,000,000 |  |   | 6,930,000 |  |   | 7,028,455 |  |
|                                                                      |   |   |   |   |   |   |   | 6,930,000 |  |   | 7,028,455 |  |
|  Altice France S.A.                                                  |  International |  Integrated telecommunication services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B13, LIBOR+4% cash due 8/14/2026               |   |   |   | 6.16 | % |   | 3,000,000 |  |   | 2,925,338 |  |   | 2,982,855 |  |
|                                                                      |   |   |   |   |   |   |   | 2,925,338 |  |   | 2,982,855 |  |
|  Alvogen Pharma US Inc.                                              |  Northeast |  Pharmaceuticals |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+4.75% (1% floor) cash due 4/1/2022    |   |   |   | 6.99 | % |   | 6,875,051 |  |   | 6,875,051 |  |   | 6,942,358 |  |
|                                                                      |   |   |   |   |   |   |   | 6,875,051 |  |   | 6,942,358 |  |
|  Ancile Solutions, Inc.                                              |  Northeast |  Application software |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+7% (1% floor) cash due 6/30/2021(5)     |   |   |   | 9.39 | % |   | 3,750,800 |  |   | 3,719,206 |  |   | 3,728,294 |  |
|                                                                      |   |   |   |   |   |   |   | 3,719,206 |  |   | 3,728,294 |  |
|  Aptos, Inc.                                                         |  Southeast |  Computer & electronics retail |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.5% cash due 7/23/2025                 |   |   |   | 7.74 | % |   | 3,000,000 |  |   | 2,970,000 |  |   | 2,996,250 |  |
|                                                                      |   |   |   |   |   |   |   | 2,970,000 |  |   | 2,996,250 |  |
|  Asset International, Inc.                                           |  Northeast |  Research & consulting services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 12/30/2024 (5) |   |   |   | 6.89 | % |   | 3,970,000 |  |   | 3,899,167 |  |   | 3,952,818 |  |
|                                                                      |   |   |   |   |   |   |   | 3,899,167 |  |   | 3,952,818 |  |
|  Bison Midstream Holdings LLC                                        | West |  Oil & gas equipment & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+4% cash due 5/21/2025                 |   |   |   | 6.17 | % |   | 4,987,500 |  |   | 4,963,823 |  |   | 4,971,914 |  |
|                                                                      |   |   |   |   |   |   |   | 4,963,823 |  |   | 4,971,914 |  |
|  California Pizza Kitchen, Inc.                                      |  Northeast |  Restaurants |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+6% (1% floor) cash due 8/23/2022        |   |   |   | 8.39 | % |   | 4,900,000 |  |   | 4,888,197 |  |   | 4,777,500 |  |
|                                                                      |   |   |   |   |   |   |   | 4,888,197 |  |   | 4,777,500 |  |
|  Chloe Ox Parent LLC                                                 |  Southwest |  Healthcare services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 12/23/2024     |   |   |   | 6.89 | % |   | 5,970,000 |  |   | 5,915,738 |  |   | 5,992,388 |  |
|                                                                      |   |   |   |   |   |   |   | 5,915,738 |  |   | 5,992,388 |  |
|  CM Delaware LLC                                                     | International |  Interactive media & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.25% (1% floor) cash due 3/18/2021 (5) |   |   |   | 7.64 | % |   | 2,053,658 |  |   | 2,052,561 |  |   | 2,002,316 |  |
|                                                                      |   |   |   |   |   |   |   | 2,052,561 |  |   | 2,002,316 |  |

----

|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Portfolio Company /Type of Investment (1)(2)                           |  Region (3) |  Industry |   |  Cash Interest Rate (2) |   |  Principal  (4) |   |  Cost |   |  Fair Value |
|  Eton                                                                   |  Southeast |  Research & consulting services |   |   |   |   |   |   |   |   |
|  Second Lien Term Loan, LIBOR+7.5% cash due 5/1/2026                    |   |   |   | 9.74 | % |   | $ | 5,000,000 |  |   | $ | 4,976,145 |  |   | $ | 5,025,000 |  |
|                                                                         |   |   |   |   |   |   |   | 4,976,145 |  |   | 5,025,000 |  |
|  Falmouth Group Holdings Corp.                                          |  West |  Specialty chemicals |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+6.75% (1% floor) cash due 12/13/2021 (5) |   |   |   | 8.99 | % |   | 4,330,233 |  |   | 4,295,307 |  |   | 4,330,288 |  |
|                                                                         |   |   |   |   |   |   |   | 4,295,307 |  |   | 4,330,288 |  |
|  Gigamon, Inc.                                                          |  West |  Systems software |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 12/27/2024        |   |   |   | 6.89 | % |   | 5,955,000 |  |   | 5,901,647 |  |   | 5,999,664 |  |
|                                                                         |   |   |   |   |   |   |   | 5,901,647 |  |   | 5,999,664 |  |
|  IBC Capital Ltd.                                                       |  International |  Metal & glass containers |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+3.75% cash due 9/11/2023                 |   |   |   | 6.09 | % |   | 4,975,000 |  |   | 4,962,562 |  |   | 5,015,421 |  |
|                                                                         |   |   |   |   |   |   |   | 4,962,562 |  |   | 5,015,421 |  |
|  Indivior Finance S.a.r.l                                               |  International |  Pharmaceuticals |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+4.5% (1% floor) cash due 12/19/2022      |   |   |   | 6.85 | % |   | 4,732,907 |  |   | 4,712,773 |  |   | 4,718,117 |  |
|                                                                         |   |   |   |   |   |   |   | 4,712,773 |  |   | 4,718,117 |  |
|  Integro Parent, Inc.                                                   |  Northeast |  Insurance brokers |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.75% (1% floor) cash due 10/31/2022 (5)   |   |   |   | 8.07 | % |   | 4,863,924 |  |   | 4,767,629 |  |   | 4,876,084 |  |
|                                                                         |   |   |   |   |   |   |   | 4,767,629 |  |   | 4,876,084 |  |
|  McDermott Technology (Americas) Inc.                                   |  Southwest |  Oil & gas equipment & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+5% (1% floor) cash due 5/12/2025         |   |   |   | 7.24 | % |   | 7,960,000 |  |   | 7,808,276 |  |   | 8,077,728 |  |
|                                                                         |   |   |   |   |   |   |   | 7,808,276 |  |   | 8,077,728 |  |
|  MHE Intermediate Holdings, LLC                                         |  Midwest |  Diversified support services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+5% (1% floor) cash due 3/8/2024 (5)      |   |   |   | 7.39 | % |   | 4,186,250 |  |   | 4,119,789 |  |   | 4,147,707 |  |
|  Delayed Draw Term Loan, LIBOR+5% (1% floor) cash due 3/8/2024 (5)      |   |   |   | 7.39 | % |   | 845,676 |  |   | 835,249 |  |   | 837,883 |  |
|                                                                         |   |   |   |   |   |   |   | 4,955,038 |  |   | 4,985,590 |  |
|  Morphe LLC                                                             |  Southwest |  Personal products |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+6% (1% floor) cash due 2/10/2023 (5)       |   |   |   | 8.40 | % |   | 3,412,500 |  |   | 3,382,166 |  |   | 3,412,500 |  |
|                                                                         |   |   |   |   |   |   |   | 3,382,166 |  |   | 3,412,500 |  |
|  Northern Star Industries Inc.                                          |  Midwest |  Electrical components & equipment |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+4.75% (1% floor) cash due 3/31/2025 (5)  |   |   |   | 7.08 | % |   | 5,472,500 |  |   | 5,447,047 |  |   | 5,479,341 |  |
|                                                                         |   |   |   |   |   |   |   | 5,447,047 |  |   | 5,479,341 |  |
|  Novetta Solutions, LLC                                                 |  Southeast |  Application software |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5% (1% floor) cash due 10/17/2022 (5)      |   |   |   | 7.25 | % |   | 5,929,606 |  |   | 5,878,236 |  |   | 5,759,129 |  |
|                                                                         |   |   |   |   |   |   |   | 5,878,236 |  |   | 5,759,129 |  |
|  OCI Beaumont LLC                                                       |  Southwest |  Commodity chemicals |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+4.25% (1% floor) cash due 3/13/2025      |   |   |   | 6.39 | % |   | 6,965,000 |  |   | 6,956,910 |  |   | 7,078,288 |  |
|                                                                         |   |   |   |   |   |   |   | 6,956,910 |  |   | 7,078,288 |  |
|  R1 RCM Inc.                                                            |  Midwest |  Healthcare services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+5.25% cash due 5/8/2025 (5)              |   |   |   | 7.65 | % |   | 7,000,000 |  |   | 6,800,665 |  |   | 7,017,500 |  |
|                                                                         |   |   |   |   |   |   |   | 6,800,665 |  |   | 7,017,500 |  |

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Portfolio Company /Type of Investment (1)(2)                         |  Region (3) |  Industry |   |  Cash Interest Rate (2) |   |  Principal  (4) |   |  Cost |   |  Fair Value |
|  RSC Acquisition, Inc.                                                |  Northeast |  Trading companies & distributors |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+4.25% (1% floor) cash due 11/30/2022 (5) |   |   |   | 6.71 | % |   | $ | 3,889,854 |  |   | $ | 3,871,269 |  |   | $ | 3,880,130 |  |
|                                                                       |   |   |   |   |   |   |   | 3,871,269 |  |   | 3,880,130 |  |
|  SHO Holding I Corporation                                            |  Southeast |  Footwear |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5% (1% floor) cash due 11/18/2022        |   |   |   | 7.34 | % |   | 6,321,250 |  |   | 6,283,276 |  |   | 6,005,189 |  |
|                                                                       |   |   |   |   |   |   |   | 6,283,276 |  |   | 6,005,189 |  |
|  Tribe Buyer LLC                                                      |  Midwest |  Human resource & employment services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+4.5% (1% floor) cash due 2/16/2024       |   |   |   | 6.74 | % |   | 5,939,699 |  |   | 5,926,444 |  |   | 5,984,248 |  |
|                                                                       |   |   |   |   |   |   |   | 5,926,444 |  |   | 5,984,248 |  |
|  Unimin Corp.                                                         |  Southwest |  Oil & gas equipment & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+3.75% (1.00% floor) cash due 5/17/2025   |   |   |   | 6.14 | % |   | 6,982,500 |  |   | 6,982,500 |  |   | 6,621,714 |  |
|                                                                       |   |   |   |   |   |   |   | 6,982,500 |  |   | 6,621,714 |  |
|  Verra Mobility, Corp.                                                |  Southwest | Data processing & outsourced services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+3.75% (1% floor) cash due 2/28/2025    |   |   |   | 5.99 | % |   | 4,977,494 |  |   | 4,957,752 |  |   | 5,008,602 |  |
|                                                                       |   |   |   |   |   |   |   | 4,957,752 |  |   | 5,008,602 |  |
|  WP CPP Holdings, LLC                                                 |  Midwest |  Aerospace & defense |   |   |   |   |   |   |   |   |
|  Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026                |   |   |   | 10.15 | % |   | 3,000,000 |  |   | 2,970,428 |  |   | 3,006,570 |  |
|                                                                       |   |   |   |   |   |   |   | 2,970,428 |  |   | 3,006,570 |  |
|  Total Portfolio Investments                                          |   |   |   |   |   |   |   | $ | 159,310,299 |  |   | $ | 160,260,951 |  |
| Cash and Cash Equivalents                                                  |   |   |   |   |   |   |   | $ | 2,055,935 |  |   | $ | 2,055,935 |  |
| Total Portfolio Investments, Cash and Cash Equivalents                     |   |   |   |   |   |   |   | $ | 161,366,234 |  |   | $ | 162,316,886 |  |

|     |                                                                                                                                                                                         |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | The region is determined by the location of the corporate headquarters of the portfolio company, which may not be indicative of the primary source of the portfolio company's business. |

|     |                                                                                           |
|-----|-------------------------------------------------------------------------------------------|
| (4) | Principal includes accumulated payment in kind ("PIK") interest and is net of repayments. |

----

|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Portfolio Company /Type of Investment (1)(2)                          |  Region (3) |  Industry |   |  Cash Interest Rate (2) |   |  Principal  (4) |   |  Cost |   |  Fair Value |
|  Air Newco LLC                                                         |  International |  IT consulting & other services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+5.5% (1% floor) cash due 3/20/2022      |   |   |   | 6.82 | % |   | $ | 8,160,622 |  |   | $ | 8,141,224 |  |   | $ | 8,099,417 |  |
|                                                                        |   |   |   |   |   |   |   | 8,141,224 |  |   | 8,099,417 |  |
|  Ameritox Ltd. (5)                                                     |  Northeast |  Healthcare services |   |   |   |   |   |   |   |   |
| First Lien Term Loan, LIBOR+5% (1% floor) cash 3% PIK due 4/11/2021         |   |   |   | 6.33 | % |   | 2,287,177 |  |   | 2,243,202 |  |   | 265,211 |  |
| 119,910.76 Class B Preferred Units in Ameritox Holdings II, LLC             |   |   |   |   |   |   |   | 119,911 |  |   | — |  |
| 368.96 Class A Common Units in Ameritox Holdings II, LLC                    |   |   |   |   |   |   |   | 2,174,034 |  |   | — |  |
|                                                                        |   |   |   |   |   |   |   | 4,537,147 |  |   | 265,211 |  |
|  Ancile Solutions, Inc.                                                |  Northeast |  Internet software & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+7% (1% floor) cash due 6/30/2021          |   |   |   | 8.33 | % |   | 4,042,355 |  |   | 3,995,621 |  |   | 4,010,198 |  |
|                                                                        |   |   |   |   |   |   |   | 3,995,621 |  |   | 4,010,198 |  |
|  Aptos, Inc.                                                           |  West |  Data processing & outsourced services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+6.75% (1% floor) cash due 9/1/2022      |   |   |   | 8.08 | % |   | 7,920,000 |  |   | 7,790,262 |  |   | 7,840,800 |  |
|                                                                        |   |   |   |   |   |   |   | 7,790,262 |  |   | 7,840,800 |  |
|  Beyond Trust Software, Inc.                                           |  Southwest |  Application software |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+7% (1% floor) cash due 9/25/2019          |   |   |   | 8.33 | % |   | 11,267,524 |  |   | 11,220,478 |  |   | 11,267,116 |  |
|                                                                        |   |   |   |   |   |   |   | 11,220,478 |  |   | 11,267,116 |  |
|  California Pizza Kitchen, Inc.                                        |  Northeast |  Restaurants |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+6% (1% floor) cash due 8/23/2022          |   |   |   | 7.24 | % |   | 4,950,000 |  |   | 4,938,077 |  |   | 4,917,008 |  |
|                                                                        |   |   |   |   |   |   |   | 4,938,077 |  |   | 4,917,008 |  |
|  Central Security Group, Inc.                                          |  Southwest |  Specialized consumer services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.625% (1% floor) cash due 10/6/2021      |   |   |   | 6.86 | % |   | 3,876,067 |  |   | 3,880,408 |  |   | 3,892,211 |  |
|                                                                        |   |   |   |   |   |   |   | 3,880,408 |  |   | 3,892,211 |  |
|  CM Delaware LLC                                                       | International |  Advertising |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.25% (1% floor) cash due 3/18/2021       |   |   |   | 6.58 | % |   | 2,075,162 |  |   | 2,073,617 |  |   | 2,064,786 |  |
|                                                                        |   |   |   |   |   |   |   | 2,073,617 |  |   | 2,064,786 |  |
|  Compuware Corporation                                                 |  Midwest |  Internet software & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B3, LIBOR+4.25% (1% floor) cash due 12/15/2021   |   |   |   | 5.49 | % |   | 6,279,920 |  |   | 6,225,992 |  |   | 6,358,419 |  |
|                                                                        |   |   |   |   |   |   |   | 6,225,992 |  |   | 6,358,419 |  |
|  Falmouth Group Holdings Corp.                                         |  West |  Specialty chemicals |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+6.75% (1% floor) cash due 12/13/2021      |   |   |   | 8.08 | % |   | 4,610,174 |  |   | 4,572,990 |  |   | 4,610,400 |  |
|                                                                        |   |   |   |   |   |   |   | 4,572,990 |  |   | 4,610,400 |  |
|  Integro Parent Inc.                                                   |  Northeast |  Insurance brokers |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.75% (1% floor) cash due 10/31/2022      |   |   |   | 7.06 | % |   | 4,913,924 |  |   | 4,790,511 |  |   | 4,901,639 |  |
|                                                                        |   |   |   |   |   |   |   | 4,790,511 |  |   | 4,901,639 |  |
|  Metamorph US 3, LLC (5)                                               |  Northeast |  Internet software & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.5% (1% floor) 2% PIK cash due 12/1/2020 |   |   |   | 6.74 | % |   | 6,825,900 |  |   | 6,477,372 |  |   | 2,592,115 |  |
|                                                                        |   |   |   |   |   |   |   | 6,477,372 |  |   | 2,592,115 |  |

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Portfolio Company /Type of Investment (1)(2)                         |  Region (3) |  Industry |   |  Cash Interest Rate (2) |   |  Principal  (4) |   |  Cost |   |  Fair Value |
|  MHE Intermediate Holdings, LLC                                       |  Midwest |  Diversified support services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B LIBOR+5% (1% floor) cash due 3/11/2024        |   |   |   | 6.33 | % |   | $ | 4,228,750 |  |   | $ | 4,150,304 |  |   | $ | 4,228,752 |  |
|  Delayed Draw Term Loan LIBOR+5% (1% floor) cash due 3/11/2024        |   |   |   | 6.33 | % |   | 667,510 |  |   | 635,208 |  |   | 667,510 |  |
|                                                                       |   |   |   |   |   |   |   | 4,785,512 |  |   | 4,896,262 |  |
|  Motion Recruitment Partners LLC                                      |  Northeast |  Human resources & employment services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+6% (1% floor) cash due 2/13/2020         |   |   |   | 7.24 | % |   | 8,659,650 |  |   | 8,659,646 |  |   | 8,659,223 |  |
|                                                                       |   |   |   |   |   |   |   | 8,659,646 |  |   | 8,659,223 |  |
|  NAVEX Global, Inc.                                                   |  West |  Internet software & services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+4.25% (1% floor) cash due 11/19/2021     |   |   |   | 5.49 | % |   | 2,977,041 |  |   | 2,967,620 |  |   | 2,988,205 |  |
|                                                                       |   |   |   |   |   |   |   | 2,967,620 |  |   | 2,988,205 |  |
|  New Trident Holdcorp, Inc.                                           |  Northeast |  Healthcare services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan B, LIBOR+5.75% (1.25% floor) cash due 7/31/2019 |   |   |   | 7.08 | % |   | 2,018,206 |  |   | 2,000,877 |  |   | 1,453,109 |  |
|                                                                       |   |   |   |   |   |   |   | 2,000,877 |  |   | 1,453,109 |  |
|  Novetta Solutions, LLC                                               |  Southeast |  Diversified support services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5% (1% floor) cash due 10/16/2022        |   |   |   | 6.34 | % |   | 5,990,978 |  |   | 5,932,073 |  |   | 5,826,226 |  |
|                                                                       |   |   |   |   |   |   |   | 5,932,073 |  |   | 5,826,226 |  |
|  Poseidon Merger Sub, Inc.                                            |  Northeast |  Advertising |   |   |   |   |   |   |   |   |
|  Second Lien Term Loan, LIBOR+8.5% (1% floor) cash due 8/15/2023      |   |   |   | 9.81 | % |   | 3,000,000 |  |   | 2,933,633 |  |   | 3,030,000 |  |
|                                                                       |   |   |   |   |   |   |   | 2,933,633 |  |   | 3,030,000 |  |
|  RSC Acquisition, Inc.                                                |  Northeast |  Insurance brokers |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.25% (1% floor) cash due 11/30/2022     |   |   |   | 6.58 | % |   | 3,930,134 |  |   | 3,912,198 |  |   | 3,890,832 |  |
|                                                                       |   |   |   |   |   |   |   | 3,912,198 |  |   | 3,890,832 |  |
|  SHO Holding I Corporation                                            |  Southeast |  Footwear |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5% (1% floor) cash due 10/27/2022        |   |   |   | 6.24 | % |   | 6,386,250 |  |   | 6,338,479 |  |   | 6,306,422 |  |
|                                                                       |   |   |   |   |   |   |   | 6,338,479 |  |   | 6,306,422 |  |
|  TruckPro, LLC                                                        |  Southeast |  Auto parts & equipment |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5% (1% floor) cash due 8/6/2018          |   |   |   | 6.24 | % |   | 1,823,268 |  |   | 1,821,822 |  |   | 1,825,054 |  |
|                                                                       |   |   |   |   |   |   |   | 1,821,822 |  |   | 1,825,054 |  |
|  Valet Merger Sub, Inc.                                               |  Southeast |  Environmental & facilities services |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+7% (1% floor) cash due 9/24/2021         |   |   |   | 8.24 | % |   | 3,920,000 |  |   | 3,877,655 |  |   | 3,919,865 |  |
|  Incremental Term Loan, LIBOR+7% (1% floor) cash due 9/24/2021        |   |   |   | 8.24 | % |   | 1,027,425 |  |   | 1,006,080 |  |   | 1,027,390 |  |
|                                                                       |   |   |   |   |   |   |   | 4,883,735 |  |   | 4,947,255 |  |
|  Vubiquity, Inc.                                                      |  West |  Application software |   |   |   |   |   |   |   |   |
|  First Lien Term Loan, LIBOR+5.5% (1% floor) cash due 8/12/2021       |   |   |   | 6.83 | % |   | 4,126,500 |  |   | 4,099,195 |  |   | 4,095,551 |  |
|                                                                       |   |   |   |   |   |   |   | 4,099,195 |  |   | 4,095,551 |  |
|  Total Portfolio Investments                                          |   |   |   |   |   |   |   | $ | 116,978,489 |  |   | $ | 108,737,459 |  |
| Cash and Cash Equivalents                                                  |   |   |   |   |   |   |   |   |   |   |
| Wells Fargo Bank Institutional Money Market Fund                           |   |   |   |   |   |   |   | $ | 9,351,820 |  |   | $ | 9,351,820 |  |
| Other cash accounts                                                        |   |   |   |   |   |   |   | $ | 4,540,079 |  |   | $ | 4,540,079 |  |
|  Total Cash and Cash Equivalents                                      |   |   |   |   |   |   |   | $ | 13,891,899 |  |   | $ | 13,891,899 |  |
| Total Portfolio Investments, Cash and Cash Equivalents                     |   |   |   |   |   |   |   | $ | 130,870,388 |  |   | $ | 122,629,358 |  |

----

|     |                                                                                                                                                                                         |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | The region is determined by the location of the corporate headquarters of the portfolio company, which may not be indicative of the primary source of the portfolio company's business. |

|     |                                                                       |
|-----|-----------------------------------------------------------------------|
| (4) | Principal includes accumulated PIK interest and is net of repayments. |

|     |                                                                                                                                         |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------|
| (5) | This investment was on cash non-accrual status as of September 30, 2017. Cash non-accrual status is inclusive of other non-cash income. |

----

|         |                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 1 — Unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. |

|         |                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data at the measurement date for substantially the full term of the assets or liabilities. |

|         |                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 3 — Unobservable inputs that reflect management's best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. |

----

----

----

----

----

|                                 |
|---------------------------------|
|                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                            |   | Total |   | Level 1 |   | Level 2 |   | Level 3 |
| Senior secured debt investments |   | $ | 160,260,951 |  |   | $ | — |  |   | $ | 103,261,954 |  |   | $ | 56,998,997 |  |
| Total assets at fair value      |   | $ | 160,260,951 |  |   | $ | — |  |   | $ | 103,261,954 |  |   | $ | 56,998,997 |  |
|                            |   |   |   |   |   |   |   |   |
| Subordinated notes payable      |   | $ | 66,871,054 |  |   | $ | — |  |   | $ | — |  |   | $ | 66,871,054 |  |
| Total liabilities at fair value |   | $ | 66,871,054 |  |   | $ | — |  |   | $ | — |  |   | $ | 66,871,054 |  |

|                                 |
|---------------------------------|
|                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                            |   | Total |   | Level 1 |   | Level 2 |   | Level 3 |
| Senior secured debt investments |   | $ | 108,737,459 |  |   | $ | — |  |   | $ | 1,453,109 |  |   | $ | 107,284,350 |  |
| Equity investment               |   | — |  |   | — |  |   | — |  |   | — |  |
| Cash and cash equivalents       |   | 13,891,899 |  |   | 13,891,899 |  |   | — |  |   | — |  |
| Total assets at fair value      |   | $ | 122,629,358 |  |   | $ | 13,891,899 |  |   | $ | 1,453,109 |  |   | $ | 107,284,350 |  |
|                            |   |   |   |   |   |   |   |   |
| Subordinated notes payable      |   | $ | 65,836,199 |  |   | $ | — |  |   | $ | — |  |   | $ | 65,836,199 |  |
| Total liabilities at fair value |   | $ | 65,836,199 |  |   | $ | — |  |   | $ | — |  |   | $ | 65,836,199 |  |

|                                                                                                                                                                                                                                                       |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                  |   | Assets | Liabilities |
|                                                                                                                                                                                                                                                  |   | Senior secured debt investments |   | Equity Investment |   | Total |   | Subordinated notes payable |
| Fair value at October 1, 2017                                                                                                                                                                                                                         |   | $ | 107,284,350 |  |   | $ | — |  |   | $ | 107,284,350 |  |   | $ | 65,836,199 |  |
| Additions                                                                                                                                                                                                                                             |   | 27,314,536 |  |   | — |  |   | 27,314,536 |  |   | 2,470,101 |  |
| Repayments and sales                                                                                                                                                                                                                                  |   | (66,646,523 | ) |   | — |  |   | (66,646,523 | ) |   | — |  |
| Transfers out (a)                                                                                                                                                                                                                                     |   | (11,223,430 | ) |   | — |  |   | (11,223,430 | ) |   | — |  |
| Accretion of original issue discount                                                                                                                                                                                                                  |   | 444,405 |  |   | — |  |   | 444,405 |  |   | — |  |
| Net unrealized appreciation (depreciation)                                                                                                                                                                                                            |   | 5,801,548 |  |   | 2,293,945 |  |   | 8,095,493 |  |   | (1,435,246 | ) |
| Realized loss on investments                                                                                                                                                                                                                          | (5,975,889 | ) |   | (2,293,945 | ) |   | (8,269,834 | ) |   | — |  |
| Fair value as of September 30, 2018                                                                                                                                                                                                                   |   | $ | 56,998,997 |  |   | $ | — |  |   | $ | 56,998,997 |  |   | $ | 66,871,054 |  |
| Net unrealized appreciation relating to Level 3 assets and liabilities still held at September 30, 2018 and reported within net realized and unrealized gain (loss) in the Consolidated Statement of Operations for the year ended September 30, 2018 |   | $ | 295,664 |  |   | $ | — |  |   | $ | 295,664 |  |   | $ | (1,435,246 | ) |

----

|                                                                                                                                                                                                                                                       |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                  |   | Assets | Liabilities |
|                                                                                                                                                                                                                                                  |   | Senior secured debt investments |   | Equity Investment |   | Receivables from secured financing arrangement |   | Total |   | Subordinated notes payable |
| Fair value at October 1, 2016                                                                                                                                                                                                                         |   | $ | 187,595,503 |  |   | $ | 1,112,717 |  |   | $ | 4,985,425 |  |   | $ | 193,693,645 |  |   | $ | 65,012,167 |  |
| Additions                                                                                                                                                                                                                                             |   | 14,042,196 |  |   | — |  |   | — |  |   | 14,042,196 |  |   | — |  |
| Repayments and sales                                                                                                                                                                                                                                  |   | (88,688,872 | ) |   | — |  |   | (4,985,500 | ) |   | (93,674,372 | ) |   | — |  |
| Transfers out (a)                                                                                                                                                                                                                                     |   | (1,755,567 | ) |   | — |  |   | — |  |   | (1,755,567 | ) |   | — |  |
| Accretion of original issue discount                                                                                                                                                                                                                  |   | 831,251 |  |   | — |  |   | — |  |   | 831,251 |  |   | — |  |
| Net accrual of PIK interest income                                                                                                                                                                                                                    |   | 53,620 |  |   | — |  |   | — |  |   | 53,620 |  |   | 255,001 |  |
| Net change in unearned income                                                                                                                                                                                                                         |   | 2,306 |  |   | — |  |   | — |  |   | 2,306 |  |   | — |  |
| Net unrealized appreciation (depreciation)                                                                                                                                                                                                            |   | (922,633 | ) |   | (1,112,717 | ) |   | 75 |  |   | (2,035,275 | ) |   | 569,031 |  |
| Realized loss on investments                                                                                                                                                                                                                          | (3,873,454 | ) |   | — |  |   | — |  |   | (3,873,454 | ) |   | — |  |
| Fair value as of September 30, 2017                                                                                                                                                                                                                   |   | $ | 107,284,350 |  |   | $ | — |  |   | $ | — |  |   | $ | 107,284,350 |  |   | $ | 65,836,199 |  |
| Net unrealized depreciation relating to Level 3 assets and liabilities still held at September 30, 2017 and reported within net realized and unrealized gain (loss) in the Consolidated Statement of Operations for the year ended September 30, 2017 |   | $ | (4,069,756 | ) |   | $ | (1,112,717 | ) |   | $ | — |  |   | $ | (5,182,473 | ) |   | $ | 569,031 |  |

|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                           |   | Carrying Value |   | Fair Value |   | Level 1 |   | Level 2 |   | Level 3 |
| Senior credit facility payable |   | $ | 94,281,939 |  |   | $ | 94,281,939 |  |   | $ | — |  |   | $ | — |  |   | $ | 94,281,939 |  |
| Total                          |   | $ | 94,281,939 |  |   | $ | 94,281,939 |  |   | $ | — |  |   | $ | — |  |   | $ | 94,281,939 |  |

|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                           |   | Carrying Value |   | Fair Value |   | Level 1 |   | Level 2 |   | Level 3 |
| Senior credit facility payable |   | $ | 56,881,939 |  |   | $ | 56,881,939 |  |   | $ | — |  |   | $ | — |  |   | $ | 56,881,939 |  |
| Total                          |   | $ | 56,881,939 |  |   | $ | 56,881,939 |  |   | $ | — |  |   | $ | — |  |   | $ | 56,881,939 |  |

----

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Asset                      |   | Fair Value |   | Valuation Technique |   | Unobservable Input |   | Range |   | WeightedAverage (a) |
| Senior secured debt        |   | $ | 16,996,997 |  |   | Market yield technique |   | Market yield |   | (b) | 7.7% | - | 10.9% |   | 9.3% |
|                       |   | 40,002,000 |  |   | Broker Quotations |   | Broker quoted price |   | (c) | N/A | - | N/A |   | N/A |
| Total                      |   | $ | 56,998,997 |  |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Liability                  |   | Fair Value |   | Valuation Technique |   | Unobservable Input |   | Range |   | WeightedAverage (a) |
| Subordinated notes payable |   | $ | 66,871,054 |  |   | Enterprise value technique |   | N/A |   | (d) | N/A | - | N/A |   | N/A |
| Total                      |   | $ | 66,871,054 |  |   |   |   |   |   |   |   |   |   |   |   |

|     |                                                                      |
|-----|----------------------------------------------------------------------|
| (a) | Weighted averages are calculated based on fair value of investments. |

|     |                                                                                                |
|-----|------------------------------------------------------------------------------------------------|
| (b) | Used when market participant would take into account market yield when pricing the investment. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (c) | The Fund generally uses prices provided by an independent pricing service which are non-binding indicative prices on or near the valuation date as the primary basis for the fair value determinations for quoted senior secured debt investments. Since these prices are non-binding, they may not be indicative of fair value. The Fund evaluates the quotations provided by pricing vendors and brokers based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. |

|     |                                                                                                                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (d) | The Fund determined the value based on the total assets less the total liabilities senior to the subordinated notes issued by OCSI Glick JV in an amount not exceeding par under the enterprise value technique. |

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Asset                      |   | Fair Value |   | Valuation Technique |   | Unobservable Input |   | Range |   | WeightedAverage (c) |
| Senior secured debt        |   | $ | 41,420,454 |  |   | Market yield technique |   | Capital structure premium |   | (a) | 0.0% | - | 2.0% |   | 2.0% |
|                       |   |   |   |   |   | Tranche specific risk premium/(discount) |   | (a) | (0.5)% | - | 1.0% |   | 0.2% |
|                       |   |   |   |   |   | Size premium |   | (a) | 0.0% | - | 1.5% |   | 1.0% |
|                       |   |   |   |   |   | Industry premium/(discount) |   | (a) | (0.5)% | - | 0.2% |   | (0.1)% |
|                       |   | 2,592,115 |  |   | Enterprise value technique |   | Revenue multiple |   | (b) | 0.6x | - | 0.6x |   | 0.6x |
|                       |   | 265,211 |  |   | Enterprise value technique |   | EBITDA multiple |   | (b) | 0.1x | - | 0.1x |   | 0.1x |
|                       |   | 63,006,570 |  |   | Market quotations |   | Broker quoted price |   | (d) | N/A | - | N/A |   | N/A |
| Equity Investment          |   | — |  |   | Enterprise value technique |   | EBITDA multiple |   | (b) | 0.1x | - | 0.1x |   | 0.1x |
| Total                      |   | $ | 107,284,350 |  |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Liability                  |   | Fair Value |   | Valuation Technique |   | Unobservable Input |   | Range |   | WeightedAverage (b) |
| Subordinated notes payable |   | $ | 65,836,199 |  |   | Enterprise value technique |   | N/A |   | (e) | N/A | - | N/A |   | N/A |
| Total                      |   | $ | 65,836,199 |  |   |   |   |   |   |   |   |   |   |   |   |

----

|     |                                                                                                            |
|-----|------------------------------------------------------------------------------------------------------------|
| (a) | Used when market participant would take into account this premium or discount when pricing the investment. |

|     |                                                                                    |
|-----|------------------------------------------------------------------------------------|
| (b) | Used when market participant would use such multiples when pricing the investment. |

|     |                                                                                                  |
|-----|--------------------------------------------------------------------------------------------------|
| (c) | Weighted averages are calculated based on fair value of investment or subordinated note payable. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (d) | The Fund generally uses prices provided by an independent pricing service which are non-binding indicative prices on or near the valuation date as the primary basis for the fair value determinations for quoted senior secured debt investments. Since these prices are non-binding, they may not be indicative of fair value. The Fund evaluates the quotations provided by pricing vendors and brokers based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. |

|     |                                                                                                                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (e) | The Fund determined the value based on the total assets less the total liabilities senior to the subordinated notes issued by OCSI Glick JV in an amount not exceeding par under the enterprise value technique. |

|               |
|---------------|
|               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|          |   | September 30, 2018 |   | September 30, 2017 |
| Cost:         |   |   |   |   |   |   |   |   |
| Southwest     |   | $ | 42,933,340 |  |   | 26.95 | % |   | $ | 15,100,886 |  |   | 12.91 | % |
| Northeast     |   | 28,020,517 |  |   | 17.59 | % |   | 42,245,082 |  |   | 36.11 | % |
| International |   | 26,988,382 |  |   | 16.94 | % |   | 10,214,841 |  |   | 8.74 | % |
| Midwest       |   | 26,099,642 |  |   | 16.38 | % |   | 11,011,504 |  |   | 9.41 | % |
| Southeast     |   | 20,107,657 |  |   | 12.62 | % |   | 18,976,109 |  |   | 16.22 | % |
| West          |   | 15,160,761 |  |   | 9.52 | % |   | 19,430,067 |  |   | 16.61 | % |
| Total         |   | $ | 159,310,299 |  |   | 100.00 | % |   | $ | 116,978,489 |  |   | 100.00 | % |

|                     |
|---------------------|
|                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                |   | September 30, 2018 |   | September 30, 2017 |
| Fair Value:         |   |   |   |   |   |   |   |   |
|  Southwest     |   | $ | 43,219,674 |  |   | 26.97 | % |   | $ | 15,159,327 |  |   | 13.94 | % |
|  Northeast     |   | 28,157,182 |  |   | 17.57 | % |   | 33,719,335 |  |   | 31.01 | % |
|  International |   | 27,323,409 |  |   | 17.05 | % |   | 10,164,203 |  |   | 9.34 | % |
|  Midwest       |   | 26,473,254 |  |   | 16.52 | % |   | 11,254,681 |  |   | 10.35 | % |
|  Southeast     |   | 19,785,567 |  |   | 12.35 | % |   | 18,904,957 |  |   | 17.39 | % |
|  West          |   | 15,301,865 |  |   | 9.54 | % |   | 19,534,956 |  |   | 17.97 | % |
| Total               |   | $ | 160,260,951 |  |   | 100.00 | % |   | $ | 108,737,459 |  |   | 100.00 | % |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                       |   | September 30, 2018 |   | September 30, 2017 (revised) |   | September 30, 2017 (as reported) |
| Cost: (1)                                  |   |   |   |  % of Total Investments |   |   |   |  % of Total Investments |   |   |   |  % of Total Investments |
| Oil & gas equipment & services     |   | $ | 19,754,599 |  |   | 12.41 | % |   | $ | — |  |   | — |  |   | — |  |   | — |  |
| Healthcare services                        |   | 12,716,403 |  |   | 7.98 | % |   | 6,538,024 |  |   | 5.59 | % |   | 6,538,024 |  |   | 5.59 | % |
| Pharmaceuticals                            |   | 11,587,824 |  |   | 7.27 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Electrical components & equipment      |   | 10,300,945 |  |   | 6.47 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Application software                       |   | 9,597,441 |  |   | 6.02 | % |   | 40,918,351 |  |   | 34.98 | % |   | 15,319,673 |  |   | 13.10 | % |
| Research & consulting services         |   | 8,875,312 |  |   | 5.57 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| IT consulting & other services         |   | 7,481,250 |  |   | 4.70 | % |   | 8,141,224 |  |   | 6.96 | % |   | 8,141,224 |  |   | 6.96 | % |
| Commodity chemicals                        |   | 6,956,910 |  |   | 4.37 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Oil & gas storage & transportation |   | 6,930,000 |  |   | 4.35 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Footwear                                   |   | 6,283,276 |  |   | 3.94 | % |   | 6,338,479 |  |   | 5.42 | % |   | 6,338,479 |  |   | 5.42 | % |
| Human resource & employment services   |   | 5,926,444 |  |   | 3.72 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Systems software                           |   | 5,901,647 |  |   | 3.70 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Metal & glass containers               |   | 4,962,563 |  |   | 3.12 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Data processing & outsourced services  |   | 4,957,752 |  |   | 3.11 | % |   | — |  |   | — |  |   | 7,790,262 |  |   | 6.66 | % |
| Diversified support services               |   | 4,955,038 |  |   | 3.11 | % |   | 4,785,512 |  |   | 4.09 | % |   | 10,717,585 |  |   | 9.16 | % |
| Restaurants                                |   | 4,888,197 |  |   | 3.07 | % |   | 4,938,077 |  |   | 4.22 | % |   | 4,938,077 |  |   | 4.22 | % |
| Insurance brokers                          |   | 4,767,629 |  |   | 2.99 | % |   | 4,790,511 |  |   | 4.10 | % |   | 8,702,709 |  |   | 7.44 | % |
| Specialty chemicals                        |   | 4,295,307 |  |   | 2.70 | % |   | 4,572,990 |  |   | 3.91 | % |   | 4,572,990 |  |   | 3.91 | % |
| Trading companies & distributors       |   | 3,871,269 |  |   | 2.43 | % |   | 3,912,198 |  |   | 3.34 | % |   | — |  |   | — |  |
| Personal products                          |   | 3,382,166 |  |   | 2.12 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Aerospace & defense                    |   | 2,970,428 |  |   | 1.86 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Computer & electronics retail          |   | 2,970,000 |  |   | 1.86 | % |   | 7,790,262 |  |   | 6.66 | % |   | — |  |   | — |  |
| Integrated telecommunication services      |   | 2,925,338 |  |   | 1.84 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Interactive media & services           |   | 2,052,561 |  |   | 1.29 | % |   | 2,073,617 |  |   | 1.77 | % |   | — |  |   | — |  |
| Advertising                                |   | — |  |   | — |  |   | 2,933,633 |  |   | 2.51 | % |   | 5,007,250 |  |   | 4.28 | % |
| Auto parts & equipment                 |   | — |  |   | — |  |   | 1,821,822 |  |   | 1.56 | % |   | 1,821,822 |  |   | 1.56 | % |
| Environmental & facilities services    |   | — |  |   | — |  |   | 4,883,735 |  |   | 4.17 | % |   | 4,883,735 |  |   | 4.17 | % |
| Human resources & employment services  |   | — |  |   | — |  |   | 8,659,646 |  |   | 7.40 | % |   | 8,659,646 |  |   | 7.40 | % |
| Internet software & services           |   | — |  |   | — |  |   | — |  |   | — |  |   | 19,666,605 |  |   | 16.81 | % |
| Specialized consumer services              |   | — |  |   | — |  |   | 3,880,408 |  |   | 3.32 | % |   | 3,880,408 |  |   | 3.32 | % |
| Total                                      |   | $ | 159,310,299 |  |   | 100.00 | % |   | $ | 116,978,489 |  |   | 100.00 | % |   | $ | 116,978,489 |  |   | 100.00 | % |

|     |                                                                                                                                                                                                                                                                                     |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | As of September 30, 2018, certain industry classifications were modified primarily as a result of changes to industry information provided by a third party source. Both the revised and previously reported industry classifications as of September 30, 2017 are disclosed above. |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                       |   | September 30, 2018 | September 30, 2017 (revised) | September 30, 2017 (as reported) |
| Fair Value: (1)                            |   |   |   |  % of Total Investments |   |   |   |  % of Total Investments |   |   |   |  % of Total Investments |
| Oil & gas equipment & services     |   | $ | 19,671,356 |  |   | 12.26 | % |   | $ | — |  |   | — |  |   | $ | — |  |   | — |  |
| Healthcare services                        |   | 13,009,888 |  |   | 8.12 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Pharmaceuticals                            |   | 11,660,475 |  |   | 7.28 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Electrical components & equipment      |   | 10,509,041 |  |   | 6.56 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Application software                       |   | 9,487,423 |  |   | 5.92 | % |   | 37,137,830 |  |   | 34.15 | % |   | 15,362,667 |  |   | 14.13 | % |
| Research & consulting services         |   | 8,977,818 |  |   | 5.60 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| IT consulting & other services         |   | 7,575,000 |  |   | 4.73 | % |   | 8,099,417 |  |   | 7.45 | % |   | 8,099,417 |  |   | 7.45 | % |
| Commodity chemicals                        |   | 7,078,288 |  |   | 4.42 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Oil & gas storage & transportation |   | 7,028,455 |  |   | 4.39 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Footwear                                   |   | 6,005,189 |  |   | 3.75 | % |   | 6,306,422 |  |   | 5.80 | % |   | 6,306,422 |  |   | 5.80 | % |
| Systems software                           |   | 5,999,664 |  |   | 3.74 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Human resources & employment services  |   | 5,984,248 |  |   | 3.73 | % |   | 8,659,223 |  |   | 7.96 | % |   | 8,659,223 |  |   | 7.96 | % |
| Metal & glass containers               |   | 5,015,421 |  |   | 3.13 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Data processing & outsourced services  |   | 5,008,602 |  |   | 3.13 | % |   | — |  |   | — |  |   | 7,840,800 |  |   | 7.21 | % |
| Diversified support services               |   | 4,985,590 |  |   | 3.11 | % |   | 4,896,262 |  |   | 4.50 | % |   | 10,722,488 |  |   | 9.86 | % |
| Insurance brokers                          |   | 4,876,084 |  |   | 3.04 | % |   | 4,901,639 |  |   | 4.51 | % |   | 8,792,471 |  |   | 8.09 | % |
| Restaurants                                |   | 4,777,500 |  |   | 2.98 | % |   | 4,917,008 |  |   | 4.52 | % |   | 4,917,008 |  |   | 4.52 | % |
| Specialty chemicals                        |   | 4,330,288 |  |   | 2.70 | % |   | 4,610,400 |  |   | 4.24 | % |   | 4,610,400 |  |   | 4.24 | % |
| Trading companies & distributors       |   | 3,880,130 |  |   | 2.42 | % |   | 3,890,832 |  |   | 3.58 | % |   | — |  |   | — |  |
| Personal products                          |   | 3,412,500 |  |   | 2.13 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Aerospace & defense                    |   | 3,006,570 |  |   | 1.88 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Computer & electronics retail          |   | 2,996,250 |  |   | 1.87 | % |   | 7,840,800 |  |   | 7.21 | % |   | — |  |   | — |  |
| Integrated telecommunication services      |   | 2,982,855 |  |   | 1.86 | % |   | — |  |   | — |  |   | — |  |   | — |  |
| Interactive media & services           |   | 2,002,316 |  |   | 1.25 | % |   | 2,064,786 |  |   | 1.90 | % |   | — |  |   | — |  |
| Advertising                                |   | — |  |   | — |  |   | 3,030,000 |  |   | 2.79 | % |   | 5,094,786 |  |   | 4.69 | % |
| Auto parts & equipment                 |   | — |  |   | — |  |   | 1,825,054 |  |   | 1.68 | % |   | 1,825,054 |  |   | 1.68 | % |
| Education services                         |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Electronic equipment & instruments     |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Environmental & facilities services    |   | — |  |   | — |  |   | 4,947,255 |  |   | 4.55 | % |   | 4,947,255 |  |   | 4.55 | % |
| Food distributors                          |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Healthcare services                        |   | — |  |   | — |  |   | 1,718,320 |  |   | 1.58 | % |   | 1,718,320 |  |   | 1.58 | % |
| Healthcare technology                      |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Integrated telecommunication services      |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Internet software & services           |   | — |  |   | — |  |   | — |  |   | — |  |   | 15,948,937 |  |   | 14.66 | % |
| Personal products                          |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Specialized consumer services              |   | — |  |   | — |  |   | 3,892,211 |  |   | 3.58 | % |   | 3,892,211 |  |   | 3.58 | % |
| Total                                      |   | $ | 160,260,951 |  |   | 100.00 | % |   | $ | 108,737,459 |  |   | 100.00 | % |   | $ | 108,737,459 |  |   | 100.00 | % |

|     |                                                                                                                                                                                                                                                                                     |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | As of September 30, 2018, certain industry classifications were modified primarily as a result of changes to industry information provided by a third party source. Both the revised and previously reported industry classifications as of September 30, 2017 are disclosed above. |

----

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            |   | September 30, 2018 |
|                                            |   | OCSI (87.5%) |   | GF Equity Funding/GF Debt Funding (12.5%) |   | Total |
| Total commitments to the Fund:                  |   |   |   |   |   |   |
| Total commitments under subordinated notes      |   | $ | 78,750,000 |  |   | $ | 11,250,000 |  |   | $ | 90,000,000 |  |
| Total commitments under equity capital          |   | 8,750,000 |  |   | 1,250,000 |  |   | 10,000,000 |  |
| Total subordinated notes and equity commitments |   | $ | 87,500,000 |  |   | $ | 12,500,000 |  |   | $ | 100,000,000 |  |
|                                            |   |   |   |   |   |   |
| Subordinated notes availability:                |   |   |   |   |   |   |
| Drawn amount of subordinated notes              |   | $ | 66,390,220 |  |   | $ | 9,484,317 |  |   | $ | 75,874,537 |  |
| Undrawn subordinated notes commitments          |   | 12,359,780 |  |   | 1,765,683 |  |   | 14,125,463 |  |
| Total subordinated notes commitment             |   | $ | 78,750,000 |  |   | $ | 11,250,000 |  |   | $ | 90,000,000 |  |
|                                            |   |   |   |   |   |   |
| Equity commitment availability:                 |   |   |   |   |   |   |
| Equity commitments called                       |   | $ | 7,111,751 |  |   | $ | 1,015,964 |  |   | $ | 8,127,715 |  |
| Equity commitments uncalled                     |   | 1,638,249 |  |   | 234,036 |  |   | 1,872,285 |  |
| Total equity commitment                         |   | $ | 8,750,000 |  |   | $ | 1,250,000 |  |   | $ | 10,000,000 |  |
|                                            |   |   |   |   |   |   |
| Total aggregate capital invested:               |   |   |   |   |   |   |
| Debt and equity capital invested                |   | $ | 73,501,971 |  |   | $ | 10,500,281 |  |   | $ | 84,002,252 |  |
|                                            |   |   |   |   |   |   |
| Fair value:                                     |   |   |   |   |   |   |
| Subordinated notes                              |   | $ | 58,512,170 |  |   | $ | 8,358,884 |  |   | $ | 66,871,054 |  |

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|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            |   | September 30, 2017 |
|                                            |   | OCSI (87.5%) |   | GF Equity Funding/GF Debt Funding (12.5%) |   | Total |
| Total commitments to the Fund:                  |   |   |   |   |   |   |
| Total commitments under subordinated notes      |   | $ | 78,750,000 |  |   | $ | 11,250,000 |  |   | $ | 90,000,000 |  |
| Total commitments under equity capital          |   | 8,750,000 |  |   | 1,250,000 |  |   | 10,000,000 |  |
| Total subordinated notes and equity commitments |   | $ | 87,500,000 |  |   | $ | 12,500,000 |  |   | $ | 100,000,000 |  |
|                                            |   |   |   |   |   |   |
| Subordinated notes availability:                |   |   |   |   |   |   |
| Drawn amount of subordinated notes              |   | $ | 64,228,881 |  |   | $ | 9,175,554 |  |   | $ | 73,404,435 |  |
| Undrawn subordinated notes commitments          |   | 14,521,119 |  |   | 2,074,446 |  |   | 16,595,565 |  |
| Total subordinated notes commitment             |   | $ | 78,750,000 |  |   | $ | 11,250,000 |  |   | $ | 90,000,000 |  |
|                                            |   |   |   |   |   |   |
| Equity commitment availability:                 |   |   |   |   |   |   |
| Equity commitments called                       |   | $ | 7,111,751 |  |   | $ | 1,015,964 |  |   | $ | 8,127,715 |  |
| Equity commitments uncalled                     |   | 1,638,249 |  |   | 234,036 |  |   | 1,872,285 |  |
| Total equity commitment                         |   | $ | 8,750,000 |  |   | $ | 1,250,000 |  |   | $ | 10,000,000 |  |
|                                            |   |   |   |   |   |   |
| Total aggregate capital invested:               |   |   |   |   |   |   |
| Debt and equity capital invested                |   | $ | 71,340,632 |  |   | $ | 10,191,518 |  |   | $ | 81,532,150 |  |
|                                            |   |   |   |   |   |   |
| Fair value:                                     |   |   |   |   |   |   |
| Subordinated notes                              |   | $ | 57,606,674 |  |   | $ | 8,229,525 |  |   | $ | 65,836,199 |  |

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