# EDGAR Filing Document

**Accession Number:** 0002028436
**File Stem:** 0001410368-25-031755
**Filing Date:** 2025-11
**Character Count:** 111127
**Document Hash:** 7fefed461c531e389a7529154c6abe7a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031755.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-031755

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price OHA Flexible Credit Income Fund
- **CENTRAL INDEX KEY:** 0002028436

**ORGANIZATION NAME:**
- **EIN:** 993089688
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23980
- **FILM NUMBER:** 251524891

**BUSINESS ADDRESS:**
- **STREET 1:** 1 VANDERBILT AVENUE, 16TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 844-700-1478

**MAIL ADDRESS:**
- **STREET 1:** 1 VANDERBILT AVENUE, 16TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Nport-Ex

**T. ROWE PRICE OHA FLEXIBLE CREDIT INCOME FUND**

**Quarterly Holdings Report - Part F**

**As of September 30, 2025**

------

**T. Rowe Price OHA Flexible Credit Income Fund<br>Schedule of Investments** 

**September 30, 2025** 

**(Unaudited)**

**(in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| **Investments - Corporate Loans - 85.74%** | | | | | | | | | |
| **First Lien Debt - 61.21%** | | | | | | | | | |
| **Aerospace and Defense - 0.52%** | | | | | | | | | |
| Peraton Corp. | (4) | S+ | 3.75% |  | 8.01% | 2/1/2028 | $1092 | $1029 | $923 |
|  |  |  |  |  |  |  |  | 1029 | 923 |
| **Automobile - 2.96%** |  |  |  |  |  |  |  |  |  |
| Clarios Global LP | (4) | S+ | 2.75% |  | 6.91% | 1/28/2032 | 2000 | 1998 | 2004 |
| PAI Holdco, Inc. | (4) | S+ | 3.75% |  | 8.32% | 10/28/2027 | 895 | 728 | 752 |
| Wheels Bidco, Inc. | (4) (6) (7) | S+ | 5.50% |  | 9.82% | 11/3/2031 | 2500 | 2477 | 2494 |
|  |  |  |  |  |  |  |  | 5203 | 5250 |
| **Broadcasting and Entertainment - 0.51%** |  |  |  |  |  |  |  |  |  |
| Learfield Communications, LLC | (4) (6) | S+ | 4.50% |  | 8.66% | 6/30/2028 | 891 | 891 | 901 |
|  |  |  |  |  |  |  |  | 891 | 901 |
| **Capital Equipment - 0.72%** |  |  |  |  |  |  |  |  |  |
| Infinite Bidco LLC | (4) (5) (6) | S+ | 3.75% |  | 8.32% | 3/2/2028 | 199 | 182 | 194 |
| Infinite Bidco LLC | (4) | S+ | 6.25% |  | 10.45% | 3/2/2028 | 1097 | 1084 | 1080 |
|  |  |  |  |  |  |  |  | 1266 | 1274 |
| **Chemicals, Plastics and Rubber - 3.76%** |  |  |  |  |  |  |  |  |  |
| ASP Unifrax Holdings, Inc. | (4) (6) | S+ | 7.75% | (4.75% PIK) | 11.75% | 9/28/2029 | 5245 | 5067 | 4862 |
| Vantage Specialty Chemicals, Inc. | (4) (6) (7) | S+ | 6.25% |  | 10.25% | 8/29/2029 | 1841 | 1796 | 1795 |
| Vantage Specialty Chemicals, Inc. | (4) (7) (8) | S+ | 6.25% |  | 10.41% | 3/1/2029 | 159 | 10 | 10 |
|  |  |  |  |  |  |  |  | 6873 | 6667 |
| **Construction & Building - 0.94%** |  |  |  |  |  |  |  |  |  |
| FloWorks International LLC | (4) (6) (7) | S+ | 4.75% |  | 8.95% | 11/26/2031 | 1680 | 1673 | 1672 |
| FloWorks International LLC | (4) (7) (8) | S+ | 4.75% |  | 8.95% | 11/26/2031 | 211 |  | (1) |
|  |  |  |  |  |  |  |  | 1673 | 1671 |
| **Consumer Goods: Durable - 2.69%** |  |  |  |  |  |  |  |  |  |
| Marcone Yellowstone Buyer, Inc. | (4) (7) | S+ | 7.00% | (3.25% PIK) | 11.44% | 6/23/2028 | 100 | 98 | 92 |
| Marcone Yellowstone Buyer, Inc. | (4) (7) | S+ | 7.00% | (3.25% PIK) | 11.44% | 6/23/2028 | 2764 | 2721 | 2550 |
| Marcone Yellowstone Buyer, Inc. | (4) (7) | S+ | 7.00% | (3.25% PIK) | 11.44% | 6/23/2028 | 919 | 904 | 847 |
| Poly-Wood, LLC | (4) (6) (7) | S+ | 4.88% |  | 9.04% | 3/20/2030 | 1293 | 1287 | 1287 |
|  |  |  |  |  |  |  |  | 5010 | 4776 |

---

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| **Finance - 3.83%** | | | | | | | | | | |
| Arax MidCo, LLC | (4) (6) (7) | S+ | 5.00% |  | 9.32% | 4/11/2029 |  | 516 | 514 | 514 |
| Arax MidCo, LLC | (4) (7) (8) | S+ | 5.00% |  | 9.00% | 4/11/2029 |  | 884 | 42 | 37 |
| Beacon Pointe Advisors LLC | (4) (6) (7) | S+ | 4.75% |  | 8.91% | 12/29/2028 |  | 1853 | 1854 | 1853 |
| Beacon Pointe Advisors LLC | (4) (6) (7) | S+ | 4.75% |  | 8.91% | 12/29/2028 |  | 727 | 727 | 727 |
| Beacon Pointe Advisors LLC | (4) (7) (8) | S+ | 4.75% |  | 8.91% | 12/29/2027 |  | 199 |  |  |
| Beacon Pointe Advisors LLC | (4) (6) (7) | S+ | 4.75% |  | 8.91% | 12/29/2028 |  | 207 | 207 | 207 |
| Spectrum Automotive Holdings, Corp. | (4) (7) (8) | S+ | 5.25% |  | 9.41% | 6/29/2027 |  | 104 |  |  |
| Spectrum Automotive Holdings, Corp. | (4) (6) (7) | S+ | 5.25% |  | 9.41% | 6/29/2028 |  | 2701 | 2691 | 2694 |
| Spectrum Automotive Holdings, Corp. | (4) (6) (7) | S+ | 5.25% |  | 9.41% | 6/29/2028 |  | 753 | 750 | 751 |
|  |  |  |  |  |  |  |  |  | 6785 | 6783 |
| **Healthcare, Education and Childcare - 6.19%** |  |  |  |  |  |  |  |  |  |  |
| CNSI Holdings, LLC | (4) (6) (7) | S+ | 5.50% |  | 9.82% | 12/17/2029 |  | 2011 | 2007 | 2011 |
| CNSI Holdings, LLC | (4) (7) (8) | S+ | 5.50% |  | 9.82% | 12/17/2029 |  | 311 | (1) |  |
| Modernizing Medicine Inc. | (4) (6) (7) | S+ | 4.75% | (2.25% PIK) | 8.75% | 4/30/2032 |  | 1110 | 1105 | 1104 |
| Modernizing Medicine Inc. | (4) (7) (8) | S+ | 4.75% | (2.25% PIK) | 8.75% | 4/30/2032 |  | 103 | (1) | (1) |
| NextGen Healthcare, Inc | (4) (6) (7) | S+ | 5.25% |  | 9.48% | 11/12/2030 |  | 1588 | 1580 | 1580 |
| Packaging Coordinators Midco, Inc. | (4) (6) (7) | S+ | 4.75% |  | 9.06% | 1/22/2032 |  | 4890 | 4879 | 4853 |
| Packaging Coordinators Midco, Inc. | (4) (7) (8) | S+ | 4.75% |  | 9.06% | 1/22/2032 |  | 2065 |  | (15) |
| Packaging Coordinators Midco, Inc. | (4) (7) (8) | S+ | 4.75% |  | 9.06% | 1/22/2032 |  | 494 | (1) | (4) |
| Packaging Coordinators Midco, Inc. | (4) (7) (8) | S+ | 4.75% |  | 9.06% | 1/22/2032 |  | 539 |  | (4) |
| Tyber Medical LLC | (4) (7) (8) | S+ | 5.00% |  | 8.88% | 6/14/2032 |  | 317 |  | (2) |
| Tyber Medical LLC | (4) (7) (8) | S+ | 5.00% |  | 9.06% | 6/12/2031 |  | 148 | 52 | 52 |
| Tyber Medical LLC | (4) (7) (8) | S+ | 5.00% |  | 7.00% | 6/12/2031 |  | 38 |  |  |
| Tyber Medical LLC | (4) (6) (7) | S+ | 5.00% |  | 8.88% | 6/14/2032 |  | 1119 | 1114 | 1113 |
| Tyber Medical LLC | (4) (6) (7) | E+ | 5.00% |  | 7.11% | 6/14/2032 | EUR | 224 | 258 | 262 |
| Tyber Medical LLC | (4) (7) | E+ | 5.00% |  | 6.90% | 6/12/2031 | EUR | 21 | 25 | 25 |
|  |  |  |  |  |  |  |  |  | 11017 | 10974 |
| **High Tech - 13.00%** |  |  |  |  |  |  |  |  |  |  |
| Banyan Software Holdings, LLC | (4) (6) (7) | S+ | 5.25% |  | 9.41% | 1/2/2031 |  | 3028 | 3015 | 3021 |
| Banyan Software Holdings, LLC | (4) (7) (8) | S+ | 5.25% |  | 9.41% | 1/2/2031 |  | 326 | (1) | (1) |
| Banyan Software Holdings, LLC | (4) (6) (7) | S+ | 5.25% |  | 9.41% | 1/2/2031 |  | 1624 | 1618 | 1620 |
| Diligent Corp. | (4) (6) (7) | S+ | 5.00% |  | 9.20% | 8/2/2030 |  | 842 | 837 | 840 |
| Diligent Corp. | (4) (6) (7) | S+ | 5.00% |  | 9.20% | 8/2/2030 |  | 144 | 143 | 144 |
| Diligent Corp. | (4) (7) (8) | S+ | 5.00% |  | 9.20% | 8/2/2030 |  | 187 | 19 | 20 |
| Drive Centric Holdings, LLC | (4) (7) (8) | S+ | 4.50% |  | 8.66% | 8/15/2031 |  | 350 |  | (2) |
| Drive Centric Holdings, LLC | (4) (6) (7) | S+ | 4.50% |  | 8.66% | 8/15/2031 |  | 350 | 348 | 348 |
| Eagan Sub, Inc. | (4) (6) (7) | S+ | 4.50% |  | 8.63% | 9/8/2032 |  | 3815 | 3805 | 3805 |

---

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| Eagan Sub, Inc. | (4) (7) (8) | S+ | 4.50% |  | 8.63% | 9/8/2032 |  | 954 |  | (2) |
| Eagan Sub, Inc. | (4) (7) (8) | S+ | 4.50% |  | 8.63% | 9/8/2032 |  | 509 | (1) | (1) |
| Finastra USA, Inc. | (4) (6) (7) | S+ | 7.25% |  | 11.29% | 9/13/2029 |  | 975 | 983 | 985 |
| Finastra USA, Inc. | (6) | S+ | 4.00% |  | 8.04% | 7/30/2032 |  | 4900 | 4851 | 4885 |
| Flexera Software LLC | (4) (6) (7) | S+ | 4.75% |  | 8.96% | 8/16/2032 |  | 2599 | 2596 | 2596 |
| Flexera Software LLC | (4) (6) (7) | E+ | 4.75% |  | 6.63% | 8/16/2032 | EUR | 784 | 908 | 921 |
| Flexera Software LLC | (7) (8) | S+ | 4.75% |  | 8.96% | 8/16/2032 |  | 199 |  |  |
| Ministry Brands Purchaser LLC | (7) (8) | S+ | 5.50% |  | 9.76% | 12/30/2027 |  | 149 | (2) | (2) |
| Ministry Brands Purchaser LLC | (4) (6) (7) | S+ | 5.50% |  | 9.76% | 12/29/2028 |  | 1499 | 1477 | 1481 |
| Ministry Brands Purchaser LLC | (4) (6) (7) | S+ | 5.50% |  | 9.76% | 12/29/2028 |  | 152 | 149 | 150 |
| MRI Software LLC | (4) (6) (7) | S+ | 4.75% |  | 8.75% | 2/10/2028 |  | 1939 | 1934 | 1925 |
| MRI Software LLC | (4) (6) (7) | S+ | 4.75% |  | 8.75% | 2/10/2028 |  | 307 | 306 | 305 |
| MRI Software LLC | (4) (7) (8) | S+ | 4.75% |  | 8.75% | 2/10/2028 |  | 139 | 13 | 13 |
|  |  |  |  |  |  |  |  |  | 22998 | 23051 |
| **Insurance - 1.31%** |  |  |  |  |  |  |  |  |  |  |
| THG Acquisition LLC | (4) (6) (7) | S+ | 4.75% |  | 8.91% | 10/31/2031 |  | 2237 | 2227 | 2226 |
| THG Acquisition LLC | (4) (7) (8) | S+ | 4.75% |  | 8.91% | 10/31/2031 |  | 501 | 79 | 79 |
| THG Acquisition LLC | (4) (7) (8) | S+ | 4.75% |  | 8.91% | 10/31/2031 |  | 251 | 18 | 17 |
|  |  |  |  |  |  |  |  |  | 2324 | 2322 |
| **Media: Diversified & Production - 2.00%** |  |  |  |  |  |  |  |  |  |  |
| Circana Group, L.P. | (7) (8) | S+ | 4.50% |  | 8.66% | 12/1/2028 |  | 230 | (3) | (1) |
| Circana Group, L.P. | (4) (6) (7) | S+ | 4.50% |  | 8.66% | 12/1/2029 |  | 3552 | 3523 | 3544 |
|  |  |  |  |  |  |  |  |  | 3520 | 3543 |
| **Personal and Nondurable Consumer Products (Manufacturing only) - 3.34%** |  |  |  |  |  |  |  |  |  |  |
| Revlon Intermediate Holdings IV LLC | (4) (6) | S+ | 6.88% |  | 10.79% | 5/2/2028 |  | 5970 | 5907 | 5923 |
|  |  |  |  |  |  |  |  |  | 5907 | 5923 |
| **Services: Business - 14.74%** |  |  |  |  |  |  |  |  |  |  |
| ARAMSCO, Inc. |  | S+ | 4.75% |  | 8.75% | 10/10/2030 |  | 3130 | 2968 | 2292 |
| Cheval Blanc Holdings Company | (7) |  |  | (14.50% PIK) | 14.50% | 10/30/2030 |  | 2887 | 2807 | 2800 |
| Dun & Bradstreet Corp. | (4) (6) (7) | S+ | 5.50% |  | 9.67% | 8/26/2032 |  | 1818 | 1809 | 1818 |
| Dun & Bradstreet Corp. | (7) (8) | S+ | 5.50% |  | 9.67% | 8/26/2032 |  | 182 | (1) |  |
| GC Waves Holdings, Inc. | (4) (6) (7) | S+ | 4.75% |  | 9.01% | 10/4/2030 |  | 3568 | 3568 | 3550 |
| IG Investment Holdings LLC | (4) (6) (7) | S+ | 5.00% |  | 9.31% | 9/22/2028 |  | 1837 | 1834 | 1837 |
| IG Investment Holdings, LLC | (4) (7) (8) | S+ | 5.00% |  | 9.31% | 9/22/2028 |  | 149 |  |  |
| Ivanti Software, Inc. | (4) | S+ | 4.75% |  | 9.05% | 6/1/2029 |  | 5177 | 4406 | 4326 |
| Pave America Holding LLC | (4) (7) (8) | S+ | 4.75% |  | 8.75% | 8/27/2032 |  | 679 | 323 | 323 |
| Pave America Holding LLC | (4) (6) (7) | S+ | 5.25% | (2.88% PIK) | 9.25% | 8/27/2032 |  | 2611 | 2598 | 2598 |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| Pave America Holding LLC | (4) (7) (8) | S+ | 5.25% | (2.88% PIK) | 9.25% | 8/27/2032 | 906 |  | (5) |
| PT Intermediate Holdings III LLC | (4) (6) (7) | S+ | 5.00% | (1.75% PIK) | 9.00% | 4/9/2030 | 4146 | 4149 | 4146 |
| PT Intermediate Holdings III LLC | (4) (7) (8) | S+ | 4.75% |  | 8.75% | 4/9/2030 | 65 |  |  |
| USIC Holdings, Inc. | (4) (6) (7) | S+ | 5.50% |  | 9.70% | 9/10/2031 | 1673 | 1666 | 1665 |
| USIC Holdings, Inc. | (4) (7) (8) | S+ | 5.25% |  | 9.45% | 9/10/2031 | 215 | 72 | 74 |
| USIC Holdings, Inc. | (4) (7) (8) | S+ | 5.50% |  | 9.70% | 9/10/2031 | 102 | 43 | 45 |
| Vision Solutions, Inc. | (4) (5) (6) | S+ | 4.00% |  | 8.57% | 4/24/2028 | 696 | 658 | 675 |
|  |  |  |  |  |  |  |  | 26900 | 26144 |
| **Services: Consumer - 2.66%** |  |  |  |  |  |  |  |  |  |
| Crash Champions, LLC |  | S+ | 4.75% |  | 8.95% | 2/23/2029 | 992 | 904 | 932 |
| W.A. Kendall and Company, LLC | (4) (7) | S+ | 5.75% |  | 10.43% | 4/22/2030 | 7 | 7 | 7 |
| W.A. Kendall and Company, LLC | (4) (7) (8) | S+ | 5.75% |  | 10.04% | 4/22/2030 | 163 | 31 | 31 |
| W.A. Kendall and Company, LLC | (4) (6) (7) | S+ | 5.75% |  | 10.38% | 4/22/2030 | 108 | 108 | 108 |
| W.A. Kendall and Company, LLC | (4) (7) (8) | S+ | 5.88% |  | 10.14% | 4/22/2030 | 22 | 9 | 10 |
| W.A. Kendall and Company, LLC | (4) (6) (7) | S+ | 5.75% |  | 10.18% | 4/22/2030 | 141 | 141 | 141 |
| W.A. Kendall and Company, LLC | (4) (6) (7) | S+ | 5.88% |  | 10.47% | 4/22/2030 | 145 | 145 | 145 |
| W.A. Kendall and Company, LLC | (4) (6) (7) | S+ | 5.75% |  | 10.34% | 4/22/2030 | 213 | 213 | 213 |
| Wrench Group LLC | (4) (6) (7) | S+ | 4.75% |  | 8.75% | 9/3/2032 | 3143 | 3127 | 3127 |
| Wrench Group LLC | (4) (7) (8) | S+ | 4.75% |  | 8.75% | 9/3/2032 | 429 |  | (2) |
| Wrench Group LLC | (4) (7) (8) | S+ | 4.75% |  | 8.75% | 9/3/2031 | 429 | (2) | (2) |
|  |  |  |  |  |  |  |  | 4683 | 4710 |
| **Telecommunications - 2.04%** |  |  |  |  |  |  |  |  |  |
| CommScope, Inc. | (4) (5) (6) | S+ | 4.75% |  | 8.91% | 12/17/2029 | 2658 | 2584 | 2694 |
| Omni Fiber, LLC | (4) (6) (7) | S+ | 5.25% |  | 9.55% | 7/3/2029 | 167 | 165 | 165 |
| Omni Fiber, LLC | (4) (6) (7) | S+ | 5.25% |  | 9.58% | 7/3/2029 | 333 | 333 | 330 |
| Omni Fiber, LLC | (4) (7) (8) | S+ | 5.25% |  | 9.58% | 7/3/2029 | 2300 | 456 | 437 |
|  |  |  |  |  |  |  |  | 3538 | 3626 |
| **First Lien Debt Total - 61.21%** |  |  |  |  |  |  |  | $109617 | $108538 |
| **Second Lien Debt - 24.53%** |  |  |  |  |  |  |  |  |  |
| **Aerospace and Defense - 1.08%** |  |  |  |  |  |  |  |  |  |
| Peraton Corp. | (4) | S+ | 7.75% |  | 12.05% | 2/1/2029 | 1256 | 1262 | 757 |
| Peraton Corp. | (4) | S+ | 8.00% |  | 12.30% | 2/1/2029 | 1900 | 1911 | 1157 |
|  |  |  |  |  |  |  |  | 3173 | 1914 |
| **Banking - 2.14%** |  |  |  |  |  |  |  |  |  |
| Orion Advisor Solutions, Inc. | (4) (6) (7) | S+ | 7.50% |  | 11.81% | 9/24/2028 | 3816 | 3844 | 3797 |
|  |  |  |  |  |  |  |  | 3844 | 3797 |

---

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| **Capital Equipment - 0.81%** | | | | | | | | | | |
| Infinite Bidco LLC | (3) (4) | S+ | 7.00% |  | 11.57% | 3/2/2029 |  | 1600 | 1316 | 1440 |
|  |  |  |  |  |  |  |  |  | 1316 | 1440 |
| **Containers, Packaging and Glass - 0.97%** |  |  |  |  |  |  |  |  |  |  |
| Berlin Packaging LLC | (6) (7) | E+ | 6.50% |  | 8.50% | 6/7/2032 | EUR | 1187 | 1396 | 1392 |
| Berlin Packaging LLC | (6) (7) | E+ | 6.50% |  | 8.50% | 6/7/2032 | EUR | 202 | 236 | 236 |
| Berlin Packaging LLC | (4) (7) | S+ | 6.00% |  | 10.26% | 6/7/2032 |  | 93 | 93 | 92 |
|  |  |  |  |  |  |  |  |  | 1725 | 1720 |
| **Energy: Electricity - 2.37%** |  |  |  |  |  |  |  |  |  |  |
| Cricket Valley Energy Center | (4) (7) | S+ | 9.00% | (13.15% PIK) | 13.15% | 6/26/2030 |  | 4343 | 4209 | 4199 |
|  |  |  |  |  |  |  |  |  | 4209 | 4199 |
| **Finance - 3.10%** |  |  |  |  |  |  |  |  |  |  |
| Orion US Finco |  | S+ | 7.50% |  | 11.81% | 5/20/2033 |  | 500 | 495 | 504 |
| Sedgwick Claims Management Services, Inc. | (6) (7) | S+ | 5.00% |  | 9.20% | 7/30/2032 |  | 5000 | 5000 | 4987 |
|  |  |  |  |  |  |  |  |  | 5495 | 5491 |
| **High Tech - 8.00%** |  |  |  |  |  |  |  |  |  |  |
| Finastra USA, Inc. |  | S+ | 7.00% |  | 11.04% | 9/15/2033 |  | 4600 | 4544 | 4590 |
| Polaris Newco LLC | (4) (7) | S+ | 9.00% |  | 13.30% | 6/4/2029 |  | 10000 | 9932 | 9600 |
|  |  |  |  |  |  |  |  |  | 14476 | 14190 |
| **Services: Business - 2.65%** |  |  |  |  |  |  |  |  |  |  |
| DG Investment Intermediate Holdings 2, Inc. | (6) | S+ | 5.50% |  | 9.66% | 7/31/2033 |  | 1400 | 1393 | 1397 |
| Vision Solutions, Inc. | (4) | S+ | 7.25% |  | 11.82% | 4/23/2029 |  | 3430 | 3341 | 3298 |
|  |  |  |  |  |  |  |  |  | 4734 | 4695 |
| **Services: Consumer - 3.41%** |  |  |  |  |  |  |  |  |  |  |
| All My Sons Moving and Storage of Kansas LLC | (4) (6) (7) | S+ | 7.75% |  | 12.03% | 10/25/2029 |  | 2900 | 2894 | 2886 |
| BCPE Empire Holdings, Inc. | (4) (6) (7) | S+ | 5.25% |  | 9.47% | 12/31/2031 |  | 3200 | 3170 | 3168 |
|  |  |  |  |  |  |  |  |  | 6064 | 6054 |
| **Second Lien Debt Total - 24.53%** |  |  |  |  |  |  |  |  | $45036 | $43500 |
| **Corporate Loans Total - 85.74%** |  |  |  |  |  |  |  |  | $154653 | $152038 |
| **Investments - Asset Backed Securities - 2.81%** |  |  |  |  |  |  |  |  |  |  |
| **Finance - 1.14%** |  |  |  |  |  |  |  |  |  |  |
| Elmwood CLO V Ltd. |  | S+ | 10.71% |  | 15.00% | 10/20/2037 |  | 3400 | 1985 | 2030 |
|  |  |  |  |  |  |  |  |  | 1985 | 2030 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| **Structured Finance - 1.10%** | | | | | | | | |
| Madison Park Funding XXVIII Ltd. |  | S+ | 10.71% | 15.00% | 7/15/2030 | 1438 | 638 | 622 |
| Magnetite XVII Ltd. |  | S+ | 10.71% | 15.00% | 4/20/2037 | 1250 | 852 | 579 |
| Magnetite XVII Ltd. |  | S+ | 10.71% | 15.00% | 7/20/2031 | 900 | 614 | 417 |
| RR 7 Ltd. |  | S+ | 10.71% | 15.00% | 1/15/2033 | 1000 | 519 | 333 |
|  |  |  |  |  |  |  | 2623 | 1951 |
| **Telecommunications - 0.57%** |  |  |  |  |  |  |  |  |
| MetroNet Infrastructure Issuer, LLC |  |  |  | 7.83% | 8/20/2055 | 1000 | 1000 | 1015 |
|  |  |  |  |  |  |  | 1000 | 1015 |
| **Asset Backed Securities Total - 2.81%** |  |  |  |  |  |  | $5608 | $4996 |
| **Investments - Bonds - 11.99%** |  |  |  |  |  |  |  |  |
| **Chemicals, Plastics and Rubber - 0.78%** |  |  |  |  |  |  |  |  |
| ASP Unifrax Holdings, Inc. |  |  |  | 11.18% | 9/30/2029 | 1506 | 1358 | 1386 |
|  |  |  |  |  |  |  | 1358 | 1386 |
| **Construction & Building - 0.46%** |  |  |  |  |  |  |  |  |
| Park River Holdings, Inc. |  |  |  | 8.00% | 3/15/2031 | 800 | 800 | 810 |
|  |  |  |  |  |  |  | 800 | 810 |
| **Oil and Gas - 4.15%** |  |  |  |  |  |  |  |  |
| California Resources Corp. |  |  |  | 7.00% | 1/15/2034 | 800 | 800 | 795 |
| Ferrellgas LP |  |  |  | 5.38% | 4/1/2026 | 2371 | 2337 | 2347 |
| Ferrellgas LP |  |  |  | 5.88% | 4/1/2029 | 4100 | 3788 | 3816 |
| Transocean International Ltd. |  |  |  | 7.88% | 10/15/2032 | 400 | 400 | 400 |
|  |  |  |  |  |  |  | 7325 | 7358 |
| **Retail Stores - 1.89%** |  |  |  |  |  |  |  |  |
| Beach Acquisition Bidco LLC |  |  |  | 10.00% | 7/15/2033 | 3100 | 3100 | 3344 |
|  |  |  |  |  |  |  | 3100 | 3344 |
| **Services: Business - 2.98%** |  |  |  |  |  |  |  |  |
| Brand Industrial Services, Inc. |  |  |  | 10.38% | 8/1/2030 | 4615 | 4428 | 4600 |
| Sabre GLBL Inc |  |  |  | 11.13% | 7/15/2030 | 700 | 700 | 678 |
|  |  |  |  |  |  |  | 5128 | 5278 |
| **Services: Consumer - 1.73%** |  |  |  |  |  |  |  |  |
| Crash Champions, LLC |  |  |  | 8.75% | 2/15/2029 | 3175 | 2963 | 3066 |
|  |  |  |  |  |  |  | 2963 | 3066 |
| **Bonds Total - 11.99%** |  |  |  |  |  |  | $20674 | $21242 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| **Preferred Equity - 4.91%** | | | | | | | | |
| **Finance - 2.34%** | | | | | | | | |
| Kymora Ltd. | (7) |  |  |  | EUR | 6888 | 3915 | 4157 |
| Kymora Ltd. | (7) |  |  |  | EUR | 1 |  |  |
|  |  |  |  |  |  |  | 3915 | 4157 |
| **Healthcare, Education and Childcare - 0.63%** |  |  |  |  |  |  |  |  |
| National Resilience, LLC | (7) |  | 8.00% |  |  | 1111 | 1111 | 1111 |
|  |  |  |  |  |  |  | 1111 | 1111 |
| **High Tech - 1.94%** |  |  |  |  |  |  |  |  |
| Aptean, Inc. | (7) | (13.50% PIK) | 13.50% |  |  | 3432 | 3401 | 3432 |
|  |  |  |  |  |  |  | 3401 | 3432 |
| **Preferred Equity Total - 4.91%** |  |  |  |  |  |  | $8427 | $8700 |
| **Common Stocks - 2.66%** |  |  |  |  |  |  |  |  |
| **Aerospace and Defense - 0.26%** |  |  |  |  |  |  |  |  |
| Oakswift Holdings Ltd. | (7) |  |  |  |  | 456 | 456 | 456 |
|  |  |  |  |  |  |  | 456 | 456 |
| **Buildings and Real Estate - 2.08%** |  |  |  |  |  |  |  |  |
| OHA SFR Member II, LLC | (7) |  |  |  |  |  | 2957 | 3687 |
| OHA SFR Member II, LLC | (7) |  |  |  |  | 278 |  |  |
|  |  |  |  |  |  |  | 2957 | 3687 |
| **Energy: Electricity - 0.03%** |  |  |  |  |  |  |  |  |
| Cricket Valley Energy Center | (7) |  |  |  |  | 3152 | 55 | 55 |
|  |  |  |  |  |  |  | 55 | 55 |
| **Services: Business - 0.29%** |  |  |  |  |  |  |  |  |
| Cheval Blanc Holdings Company | (7) |  |  |  |  | 476 | 475 | 523 |
|  |  |  |  |  |  |  | 475 | 523 |
| **Common Stocks Total - 2.66%** |  |  |  |  |  |  | $3943 | $4721 |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments (1)** | **Footnotes** | **Reference Rate and Spread** | **Interest Rate (2)** | **Maturity Date** | **Par Amount/Units** | **Cost (3)** | **Fair Value** |
| **Total Investments - 108.11%** |  |  |  |  |  | $193305 | $191697 |

---

(1)Unless otherwise indicated, issuers of debt investments held by T. Rowe Price OHA Flexible Credit Income Fund (the "Fund" or "OFLEX") (which such term "Fund" shall include the Fund's subsidiaries for purposes of this Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated.

(2)Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to SOFR including SOFR adjustment, if any, ("S") or EURIBOR ("E") at the borrower's option which generally resets periodically. S loans are typically indexed to 12 month, 6 month, 3 month or 1 month S rates. For each such loan, the Fund has provided the interest rate in effect on the date presented.

(3)The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

(4)Loan includes interest rate floor feature.

(5)Position or portion thereof unsettled as of September 30, 2025.

(6)Assets or a portion thereof are pledged as collateral for the TRP OHA FCI SPV Funding I, LLC.

(7)Investment valued using unobservable inputs (Level 3). See Note 3.

(8)The Fund has an unfunded commitment to fund delayed draw and/or revolving senior secured loans. See Note 4. Commitments and Contingencies..

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ADDITIONAL INFORMATION** | **ADDITIONAL INFORMATION** | **ADDITIONAL INFORMATION** | **ADDITIONAL INFORMATION** | **ADDITIONAL INFORMATION** |
| **Foreign currency forward contracts** | **Foreign currency forward contracts** | **Foreign currency forward contracts** | **Foreign currency forward contracts** | **Foreign currency forward contracts** |
| **Counterparty** | **Currency<br>Purchased** | **Currency Sold** | **Settlement** | **Unrealized Appreciation<br>(Depreciation)** |
| State Street Bank & Trust Company | U.S. Dollar 7,069 | Euro 5,950 | 12/18/2025 | $55 |
|  |  |  |  | $55 |

---

------

**Notes to Consolidated Financial Statements**

**(in thousands)**

**Note 1. Organization**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price OHA Flexible Credit Income Fund (the "Fund" or "OFLEX"), was formed on May 14, 2024 as a Delaware statutory trust and commenced operations on June 17, 2024. OHA Private Credit Advisors II, L.P. (the "Adviser") is the investment adviser of the Fund. The Adviser is registered as an investment adviser with the U.S. Securities and Exchange Commission (the "SEC") under the Investment Advisers Act of 1940, as amended (the "Advisers Act"). The Fund is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a non-diversified, closed-end management investment company and is operated as an interval fund. The Fund intends to elect to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code").

The Fund's investment objective is to produce current income. The Fund seeks to achieve its investment objective by opportunistically allocating its assets across a wide range of credit strategies. Under normal circumstances, the Fund intends to invest at least 80% of its assets in fixed-income securities and credit instruments ("Credit"). The Fund will opportunistically allocate its investments in Credit across any number of the following credit strategies: (a) liquid credit (including broadly syndicated loans and credit selection in high yield bonds and leveraged loans); (b) direct lending (including first lien loans and unitranche loans); (c) junior capital solutions (including unsecured debt, second lien loans, mezzanine loans and preferred equity); (d) structured credit (including collateralized loan obligations, or "CLOs"); (e) asset-based lending (including, but not limited to, credit investments, investments in infrastructure, shipping, aviation and telecommunications); and (f) special situations (including stressed and non-control distressed credit and opportunities arising due to market dislocation).

The Fund may invest in additional strategies in the future. While some of the loans in which the Fund intends to invest pursuant to the foregoing may be secured, the Fund may also invest in debt securities that are either unsecured and subordinated to substantial amounts of senior indebtedness, or a significant portion of which may be unsecured. Some of the loans in which the Fund may invest may be "covenant-lite" loans. The Fund normally may invest in a number of different countries. There is no minimum or maximum limit on the amount of the Fund's assets that may be invested in non-U.S. securities. The Fund's portfolio composition is expected to change over time as the Adviser's view changes on, among other things, the economic and credit environment (including with respect to interest rates) in which the Fund is operating.

The Fund will offer to sell any combination of three separate classes of common shares including Class A shares, Class D shares, and Class I shares. The share classes will have different ongoing shareholder servicing and/or distribution fees. The initial purchase price for the common shares of beneficial interest is $25.00 per share. Thereafter, the purchase price per share for each class of common shares equals the net asset value ("NAV") per share, as of the effective date of the daily share purchase date when the Fund is offered on a daily basis and calculates a daily NAV per Share. T. Rowe Price Investment Services, Inc., the managing dealer (the "Managing Dealer") will use its best efforts to sell shares, but is not obligated to purchase or sell any specific amount of shares in the offering. The Fund may also engage in private offerings of its common shares. As of September 30, 2025, shares of the Fund are not registered under the Securities Act of 1933, as amended.

The Fund is operated as an interval fund under Rule 23c-3 of the 1940 Act. As an interval fund, the Fund has adopted a fundamental policy to conduct quarterly repurchase offers for at least 5% and up to 25% of the outstanding shares at NAV, subject to certain conditions. The Fund will not otherwise be required to repurchase or redeem shares at the option of a shareholder. It is possible that a repurchase offer may be oversubscribed, in which case shareholders may only have a portion of their shares repurchased.

**Note 2. Significant Accounting Policies**

***Basis of Presentation***

The Fund's financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"). The Fund is an investment company and accordingly will follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification ("ASC") Topic 946, Financial Services – Investment Companies. These financial statements reflect adjustments that in the opinion of management are necessary for the fair statement of the financial position and results of operations for the periods presented herein. The Fund commenced operations on June 17, 2024, and its fiscal year ends on December 31.

------

***Basis of Consolidation***

As provided under ASC 946, the Fund will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Fund.

The Fund consolidated the results of its wholly-owned subsidiaries, TRP OHA FCI Servicer Funding I, LLC, TRP OHA FCI SPV Funding I, LLC, OFLEX Investment S.à r.l, OFLEX Holding S.à r.l, and TRP OHA FCI CA, LLC. All intercompany transactions have been eliminated in consolidation.

**Note 3. Investments**

Pursuant to Rule 2a-5 under the 1940 Act, the Board designated the Adviser as the Fund's "valuation designee" to determine the valuation of the Fund's investments. The Adviser values the investments owned by the Fund in accordance with the Adviser's valuation policies and procedures, subject at all times to the oversight of the Board. The Adviser values the Fund's investments in accordance with ASC 820, Fair Value Measurement ("ASC 820"), which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date. ASC 820 prioritizes the use of observable market prices derived from such prices over entity-specific inputs. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material.

Investments that are listed or traded on an exchange and are freely transferable are valued at either the closing price (in the case of securities and futures) or the mean of the closing bid and offer (in the case of options) on the principal exchange on which the investment is listed or traded. Investments for which other market quotations are readily available will typically be valued at such market quotations. Market quotations are obtained from an independent pricing service, where available. If a price cannot be obtained from an independent pricing service or if the independent pricing service is not deemed to be current with the market, certain investments held by the Fund will be valued on the basis of prices provided by principal market makers. Generally, investments marked in this manner will be marked at the mean of the bid and ask of the independent broker quotes obtained. To validate market quotations, the Fund utilizes a number of factors to determine if the quotations are representative of fair value, including the source and number of quotations. Debt and equity securities that are not publicly traded or whose market prices are not readily available will be valued at a price that reflects such security's fair value, as determined in good faith pursuant to procedures adopted by, and under the oversight of, the Board, based on, among other things, the input of the Adviser, the Audit Committee and independent valuation firms engaged at the direction of the Board to review the Fund's investments.

With respect to unquoted portfolio investments, the Fund will value each investment considering, among other measures, discounted cash flow models, comparisons of financial ratios of peer companies that are public, and other factors. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, the Fund will use the pricing indicated by the external event to corroborate and/or assist in valuation.

With respect to the valuation of investments, the Fund undertakes a multi-step valuation process in connection with determining the fair value of its investments for which reliable market quotations are not readily available, which includes, among other procedures, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The valuation process begins with each investment being preliminarily valued by the Adviser's valuation team in consultation with the Adviser's investment professionals responsible for each portfolio investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Generally, investments that constitute a material portion of the Fund's portfolio are periodically reviewed by independent valuation firms. The independent valuation firms provide a final range of values on such investments to the Adviser. The independent valuation firms also provide analyses to support their valuation methodology and calculations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Adviser's valuation committee with respect to the Fund (the "Valuation Committee") reviews each valuation recommendation to confirm they have been calculated in accordance with the Fund's valuation policy and when applicable, compares such valuations to the independent valuation firms' valuation ranges to ensure the Adviser's valuations are reasonable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Adviser's Valuation Committee then determines fair value marks for each of the Fund's portfolio investments; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Board and Audit Committee periodically review the valuation process and provide oversight in accordance with the requirements of Rule 2a-5 under the 1940 Act.

As part of the valuation process, the Fund will take into account relevant factors in determining the fair value of the Fund's investments for which reliable market quotations are not readily available, many of which are loans, including and in combination, as relevant: the estimated enterprise value of a portfolio company, analysis of discounted cash flows, publicly traded comparable companies and comparable transactions; the nature and realizable value of any collateral; the portfolio company's ability to make payments based on its earnings and cash flow; the markets in which the portfolio company does business; and overall changes in the interest rate environment and the credit markets that may affect the price at which similar investments may be made in the future.

The Fund has and will continue to engage independent valuation firms to provide assistance regarding the determination of the fair value of the Fund's portfolio securities for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of the investment, and the Adviser and the Fund may reasonably rely on that assistance. However, the Adviser is responsible for the ultimate valuation of the portfolio investments at fair value as determined in good faith pursuant to the Fund's valuation policy, the Board's oversight and a consistently applied valuation process.

The Fund applies ASC 820, which establishes a framework for measuring fair value in accordance with US GAAP and required disclosures of fair value measurements. The fair value of a financial instrument is the amount that would be received in an orderly transaction between market participants at the measurement date. The Fund determines the fair value of investments consistent with its valuation policy. The Fund discloses the fair value of its investments in a hierarchy which prioritizes and ranks the level of market observability used in the determination of fair value. In accordance with ASC 820, these levels are summarized below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities at the measurement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — Valuations based on inputs that are unobservable and significant to the fair value measurement.

A financial instrument's level within the hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuations of Level 2 investments are generally based on quotations received from pricing services, dealers or brokers where there is sufficient quote depth. Consideration is given to the source and nature of the quotations and the relationship of recent market activity to the quotations provided.

Transfers between levels, if any, are recognized at the beginning of the reporting period in which the transfers occur. The Fund evaluates the source of inputs used in the determination of fair value, including any markets in which the investments, or similar investments, are trading. When the fair value of an investment is determined using inputs from a pricing service (or principal market makers), the Fund considers various criteria in determining whether the investment should be classified as a Level 2 or Level 3 investment. Criteria considered includes the pricing methodologies of the pricing services (or principal market makers) to determine if the inputs to the valuation are observable or unobservable, as well as the number of prices obtained and an assessment of the quality of the prices obtained. The level of an investment within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes "observable" requires significant judgment.

The fair value assigned to these investments is based upon available information and may fluctuate from period to period. In addition, it does not necessarily represent the amount that might ultimately be realized upon sale. Due to inherent uncertainty of valuation, the estimated fair value of investments may differ from the value that would have been used had a ready market for the security existed, and the difference could be material

The composition of the Fund's investment portfolio at cost and fair value as of September 30, 2025 was as follows:

------

---

| | | | |
|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| | **Amortized Cost** | **Fair Value** | **% of Total Investments at Fair Value** |
| First Lien Debt | $109617 | $108538 | 56.6% |
| Second Lien Debt | 45036 | 43500 | 22.7% |
| Corporate Bonds | 20674 | 21242 | 11.1% |
| Preferred Equity | 8427 | 8700 | 4.5% |
| Asset-Backed Securities | 5608 | 4996 | 2.6% |
| Common Stocks | 3943 | 4721 | 2.5% |
| **Total Investments** | $193305 | $191697 | 100.0% |

---

The following table presents the fair value hierarchy of investments as of September 30, 2025, categorized by the ASC Topic 820 valuation hierarchy, as previously described:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| First Lien Debt | $— | $32443 | $76095 | $108538 |
| Second Lien Debt |  | 13143 | 30357 | 43500 |
| Corporate Bonds |  | 21242 |  | 21242 |
| Preferred Equity |  |  | 8700 | 8700 |
| Asset-Backed Securities |  | 4996 |  | 4996 |
| Common Stocks |  |  | 4721 | 4721 |
| **Total Investments** | $— | $71824 | $119873 | $191697 |

---

The following table presents change in the fair value of financial instruments for which Level 3 inputs were used to determine the fair value:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** |
| | **First Lien Debt** | **Second Lien Debt** | **Preferred Equity** | **Common Stocks** | **Total Investments** |
| Fair value, beginning of period | $57709 | $21451 | $— | $— | $79160 |
| Purchases of investments | 38488 | 15946 | 8427 | 3944 | 66805 |
| Proceeds from principal repayments and sales of investments | (20059) | (6813) |  |  | (26872) |
| Accretion of discount/amortization of premium | 91 | 26 |  |  | 117 |
| Net realized gain (loss) | (4) | 106 |  |  | 102 |
| Net change in unrealized appreciation (depreciation) | (130) | (359) | 273 | 777 | 561 |
| Transfers into Level 3 <sup>(1)</sup> |  |  |  |  |  |
| Transfers out of Level 3 <sup>(1)</sup> |  |  |  |  |  |
| **Fair value, end of period** | $76095 | $30357 | $8700 | $4721 | $119873 |
| Net change in unrealized appreciation (depreciation) related to financial instruments still held as of September 30, 2025 | $(131) | $(341) | $273 | $777 | $578 |

---

<sup>(1)</sup> For nine months ended September 30, 2025, there were no transfers into or out of Level 3.

------

**Significant Unobservable Inputs**

In accordance with ASC 820, the following table provides quantitative information about the significant unobservable inputs of the Fund's Level 3 investments as of September 30, 2025. The table is not intended to be all-inclusive but instead capture the significant unobservable inputs relevant to the Fund's determination of fair value.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| | **Fair Value** | **Valuation Techniques** | **Unobservable<br>Input** | **Range/Input (Weighted Average)**<sup>(1)</sup> |
| First Lien Debt | $69170 | Discounted cash flow | Comparative Yield | 7.3% - 15.4% (9.2%) |
| First Lien Debt | 6925 | Precedent Transaction | Transaction Price | N/A |
| Total First Lien Debt | $76095 |  |  |  |
| Second Lien Debt | 30357 | Discounted cash flow | Comparative Yield | 8.6% - 14.5% (11.8%) |
| Total Second Lien Debt | $30357 |  |  |  |
| Preferred Equity | 4157 | Discounted cash flow | Discount Rate | 15.5% |
| Preferred Equity | 3432 | Discounted cash flow | Comparative Yield | 14.0% |
| Preferred Equity | 1111 | Guideline Public Companies | EBITDA Multiple | 10.0x |
| Total Preferred Equity | $8700 |  |  |  |
| Common Stocks | 3742 | Precedent Transaction | Transaction Price | N/A |
| Common Stocks | 523 | Guideline Public Companies | EBITDA Multiple | 11.5x |
| Common Stocks | 456 | Discounted cash flow | Discount Rate | 21.0% |
| Total Common Stocks | $4721 |  |  |  |
| **Total Investments** | $119873 |  |  |  |

---

<sup>(1)</sup> Weighted averages are calculated based on fair value of investments.

The Fund used the income approach to determine the fair value of certain Level 3 assets as of September 30, 2025. The significant unobservable inputs used in the income approach is the comparative yield and discount rate. The comparative yield and discount rate is used to discount the estimated future cash flows expected to be received from the underlying investment. An increase/decrease in the comparative yield or discount rate would result in a decrease/increase, respectively, in the fair value.

**Note 4: Commitments and Contingencies**

The Fund's investment portfolio may contain debt investments which are in the form of lines of credit or delayed draw commitments, which require us to provide funding when requested by portfolio companies in accordance with underlying loan agreements. As of September 30, 2025, the Fund had unfunded commitments to fund delayed draw and revolving debt of $9.1 million and $4.7 million, respectively. The fair value of the unfunded positions is included in the investments at fair value on the Schedule of Investments.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments—<br>non-controlled/non-affiliated** | **Commitment Type** | **Commitment Expiration Date** | **Unfunded** | **Total Commitment Fair Value** |
| Arax MidCo, LLC | 2025 Delayed Draw Term Loan | 04/11/2029 | $842 | $37 |
| Banyan Software Holdings, LLC | 2024 Revolver | 01/02/2031 | 326 | (1) |
| Beacon Pointe Advisors LLC | 2021 Revolver | 12/29/2027 | 199 |  |
| Circana Group, L.P. | 2025 Revolver | 12/01/2028 | 231 | (1) |
| CNSI Holdings, LLC | Revolver | 12/17/2029 | 311 |  |
| Diligent Corp. | 2024 Revolver | 08/02/2030 | 166 | 20 |
| Drive Centric Holdings, LLC | 2025 1st Amendment Delayed Draw Term Loan | 08/15/2031 | 350 | (2) |
| Dun & Bradstreet Corp. | 2025 Revolver | 08/26/2032 | 182 |  |
| Eagan Sub, Inc. | Delayed Draw Term Loan | 09/08/2032 | 954 | (2) |
| Eagan Sub, Inc. | Revolver | 09/08/2032 | 509 | (1) |
| Flexera Software LLC | 2025 Revolver | 08/16/2032 | 199 |  |
| FloWorks International LLC | 2024 Delayed Draw Term Loan | 11/26/2031 | 211 | (1) |
| IG Investment Holdings, LLC | 2024 Refinancing Revolver | 09/22/2028 | 149 |  |
| Ministry Brands Purchaser LLC | Revolver | 12/30/2027 | 149 | (2) |
| Modernizing Medicine Inc. | Revolver | 04/30/2032 | 103 | (1) |
| MRI Software LLC | 2020 Revolver | 02/10/2028 | 125 | 13 |
| Omni Fiber, LLC | 2025 Incremental Delayed Draw Term Loan | 07/03/2029 | 1840 | 437 |
| Packaging Coordinators Midco, Inc. | 2025 Delayed Draw Term Loan | 01/22/2032 | 2065 | (15) |
| Packaging Coordinators Midco, Inc. | 2025 Revolver | 01/22/2032 | 494 | (4) |
| Packaging Coordinators Midco, Inc. | 2025 Multicurrency Delayed Draw Term Loan | 01/22/2032 | 539 | (4) |
| Pave America Holding LLC | 2025 Revolver | 08/27/2032 | 353 | 323 |
| Pave America Holding LLC | 2025 Delayed Draw Term Loan | 08/27/2032 | 906 | (5) |
| PT Intermediate Holdings III LLC | 2024 Delayed Draw Term Loan | 04/09/2030 | 65 |  |
| Spectrum Automotive Holdings, Corp. | 2021 Revolver | 06/29/2027 | 103 |  |
| THG Acquisition LLC | 2024 Delayed Draw Term Loan | 10/31/2031 | 420 | 79 |
| THG Acquisition LLC | 2024 Revolver | 10/31/2031 | 232 | 17 |
| Tyber Medical LLC | Delayed Draw Term Loan | 06/14/2032 | 317 | (2) |
| Tyber Medical LLC | USD Revolver | 06/12/2031 | 95 | 52 |
| Tyber Medical LLC | Multicurrency Revolver | 06/12/2031 | 38 |  |
| USIC Holdings, Inc. | 2024 Revolver | 09/10/2031 | 140 | 74 |
| USIC Holdings, Inc. | 2024 Specified Delayed Draw Term Loan | 09/10/2031 | 57 | 45 |
| Vantage Specialty Chemicals, Inc. | 2025 Revolver | 03/01/2029 | 145 | 10 |
| W.A. Kendall and Company, LLC | 2025 7th Amendment Delayed Draw Term Loan | 04/22/2030 | 131 | 31 |
| W.A. Kendall and Company, LLC | Revolver | 04/22/2030 | 13 | 10 |
| Wrench Group LLC | 2025 Delayed Draw Term Loan | 09/03/2032 | 428 | (2) |
| Wrench Group LLC | 2025 Revolver | 09/03/2031 | 428 | (2) |
| **Total** |  |  | $13815 | $1103 |

---

------

**Note 5. Subsequent Events**

Subsequent events have been evaluated through the dates the schedule of investments was issued. There have been no subsequent events that require recognition or disclosure through the date the schedule of investments was issued, except as disclosed below.

*Subscriptions*

The Fund received $9.1 million of net proceeds, inclusive of distributions reinvested through the Fund's distribution reinvestment plan, relating to the issuance of Class I shares for subscriptions effective October 1, 2025.

The Fund received $6.4 million of net proceeds relating to the issuance of Class I shares for subscriptions effective November 3, 2025, excluding distributions reinvested through the Fund's distribution reinvestment plan since the issuance price is not yet finalized at the date of this filing.

*Distribution Declarations*

On October 28, 2025, the Fund declared a total distribution of $0.21 per Class I share, all of which is payable on November 26, 2025 to shareholders of record as of October 30, 2025.

On November 20, 2025, the Fund declared a total distribution of $0.22 per Class I share, all of which is payable on December 30, 2025 to shareholders of record as of November 28, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** T. Rowe Price OHA Flexible Credit Income Fund

- **b. Investment Company Act file number:** 811-23980

- **c. CIK number of Registrant:** 0002028436

- **d. LEI of Registrant:** 254900ECUH3X7DJTTU12

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1 Vanderbilt Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-326-1500

**Item A.2. Information about the Series.**

- **a. Name of Series:** T. Rowe Price OHA Flexible Credit Income Fund

- **c. LEI of Series:** 254900ECUH3X7DJTTU12

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $238037901.29

**Total Liabilities:** $60707844.92

**Net Assets:** $177330056.37

**Delayed Delivery Securities:** $3700000.00

**Cash Not Reported:** $9761323.22

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -382.33000000 | **1-Year:** -14012.72000000 | **5-Year:** -52572.70000000 | **10-Year:** -11688.78000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.01%                | 0.97%                | 1.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $35145.82                | $29591.67                                  |
| Month 2  | $52522.04                | $285731.99                                 |
| Month 3  | $311468.56               | $113222.95                                 |

### Schedule of Portfolio Investments

| Name                                         | Title                                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aramsco Inc                                  | ARAMSCO Inc 2023 Term Loan B                                               | CUSIP: 03853CAG0<br>LEI: 549300YLYMLCCLQAZU59 | Long             | LON              | CORP              | US        |   3129606 | PA      | $2292436.45   | 1.29%             | 2030-10-10      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| TYBER MEDICAL LLC                            | Tyber Medical LLC USD Revolver                                             | CUSIP: 000000000<br>LEI: 254900FN5IICYRZ0MB05 | Long             | LON              | CORP              | JE        |    147778 | PA      | $147039.11    | 0.08%             | 2031-06-12      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| MODERNIZING MEDICINE INC                     | Modernizing Medicine Inc Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1109779 | PA      | $1104230.33   | 0.62%             | 2032-04-30      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| IVANTI SOFTWARE INC                          | Ivanti Software Inc 2025 1st Lien Term Loan                                | CUSIP: 46583DAH2<br>LEI: 254900GHAXAYKWDX9F60 | Long             | LON              | CORP              | US        |   5177491 | PA      | $4325793.91   | 2.44%             | 2029-06-01      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| EAGAN PARENT INC                             | EAGAN PARENT INC REVOLVER                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    508637 | PA      | $507365.37    | 0.29%             | 2032-09-08      | Floating      | 8.65%                 | No            |                  3 | On Loan: No      |
| Infinite Bidco LLC                           | Infinite Bidco LLC 1st Lien Term Loan                                      | CUSIP: 45674KAB1<br>LEI: 549300GLV0VRADA9LI65 | Long             | LON              | CORP              | US        |    198722 | PA      | $194127.44    | 0.11%             | 2028-03-02      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| BANYAN SOFTWARE HOLDINGS LLC                 | Banyan Software Holdings LLC 2024 Term Loan                                | CUSIP: 000000000<br>LEI: 549300AUV768Y2X3WV52 | Long             | LON              | CORP              | US        |   3028261 | PA      | $3020690.21   | 1.70%             | 2031-01-02      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| CLARIOS GLOBAL LP                            | Clarios Global LP 2025 USD Term Loan B                                     | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   2000000 | PA      | $2003750.00   | 1.13%             | 2032-01-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Omni Fiber LLC                               | Omni Fiber LLC Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    166667 | PA      | $165000.33    | 0.09%             | 2029-07-03      | Floating      | 9.55%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe AdvisorsLLC                    | Beacon Pointe AdvisorsLLC 2021 Revolver                                    | CUSIP: 000000000<br>LEI: 549300HX3PU2D2MUKZ84 | Long             | LON              | CORP              | US        |    198666 | PA      | $198666.00    | 0.11%             | 2027-12-29      | Floating      | 9.84%                 | No            |                  3 | On Loan: No      |
| Vision Solutions Inc                         | Vision Solutions Inc 2021 Incremental Term Loan                            | CUSIP: 70477BAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    696373 | PA      | $674785.50    | 0.38%             | 2028-04-24      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| CHEVAL BLANC HOLDINGS COMPANY                | Cheval Blanc Holdings Company Senior PIK Note                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |   2887115 | PA      | $2800501.95   | 1.58%             | 2030-10-30      | Floating      | 14.50%                | No            |                  3 | On Loan: No      |
| ORION ADVISOR SOLUTIONS INC                  | Orion Advisor Solutions Inc 2nd Lien Term Loan                             | CUSIP: 68627BAE5<br>LEI: 549300R3BS3HTGTSN386 | Long             | LON              | CORP              | US        |   3816405 | PA      | $3797323.23   | 2.14%             | 2028-09-24      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Infinite Bidco LLC                           | Infinite Bidco LLC 2nd Lien Term Loan                                      | CUSIP: 45674KAF2<br>LEI: 549300GLV0VRADA9LI65 | Long             | LON              | CORP              | US        |   1600000 | PA      | $1440000.00   | 0.81%             | 2029-03-02      | Floating      | 11.57%                | No            |                  2 | On Loan: No      |
| ASP UNIFRAX HOLDINGS INC                     | ASP Unifrax Holdings Inc 2024 Term Loan                                    | CUSIP: 00216UAK9<br>LEI: 549300RRU6BWJLD0YT71 | Long             | LON              | CORP              | US        |   5245182 | PA      | $4861628.34   | 2.74%             | 2029-09-28      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Peraton Corp                                 | Peraton Corp 2nd Lien Term Loan B                                          | CUSIP: 71360HAF4<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   1900000 | PA      | $1157100.00   | 0.65%             | 2029-02-01      | Floating      | 12.30%                | No            |                  2 | On Loan: No      |
| National Resilience, LLC                     | National Resilience LLC Term Loan                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1111000 | PA      | $1111000.00   | 0.63%             | 2032-07-23      | Floating      | 14.25%                | No            |                  3 | On Loan: No      |
| Acentra Holdings LLC                         | Acentra Holdings LLC Term Loan                                             | CUSIP: 000000000<br>LEI: 254900VYES5BJJHERD90 | Long             | LON              | CORP              | US        |   2010648 | PA      | $2010647.96   | 1.13%             | 2029-12-17      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| BANYAN SOFTWARE HOLDINGS LLC                 | Banyan Software Holdings LLC 2024 1st Lien Delayed Draw Term Loan          | CUSIP: 000000000<br>LEI: 549300AUV768Y2X3WV52 | Long             | LON              | CORP              | US        |   1624376 | PA      | $1620315.14   | 0.91%             | 2031-01-02      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| CIRCANA GROUP LP                             | Circana Group LP 2025 Revolver                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    230497 | PA      | $229921.16    | 0.13%             | 2028-12-01      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| USIC HOLDINGS INC                            | USIC Holdings Inc 2024 Specified Delayed Draw Term Loan                    | CUSIP: 000000000<br>LEI: 5493009ZYUWB7X699U62 | Long             | LON              | CORP              | US        |    101742 | PA      | $101233.36    | 0.06%             | 2031-09-10      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| IG INVESTMENT HOLDINGS LLC                   | IG Investment Holdings LLC 2024 Refinancing Revolver                       | CUSIP: 000000000<br>LEI: 549300E2BEZMEPIYGU19 | Long             | LON              | CORP              | US        |    148646 | PA      | $148645.84    | 0.08%             | 2028-09-22      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| Acentra Holdings LLC                         | Acentra Holdings LLC Revolver                                              | CUSIP: 000000000<br>LEI: 254900VYES5BJJHERD90 | Long             | LON              | CORP              | US        |    311015 | PA      | $311015.12    | 0.18%             | 2029-12-17      | Floating      | 9.80%                 | No            |                  3 | On Loan: No      |
| Peraton Corp                                 | Peraton Corp Term Loan B                                                   | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   1091505 | PA      | $923347.42    | 0.52%             | 2028-02-01      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Packaging Coordinators Midco, Inc.           | Packaging Coordinators Midco Inc 2025 Multicurrency Delayed Draw Term Loan | CUSIP: 000000000<br>LEI: 549300SL20D7D39KSB12 | Long             | LON              | CORP              | US        |    538721 | PA      | $534680.14    | 0.30%             | 2032-01-22      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| CommScope Inc                                | CommScope Inc 2024 Term Loan                                               | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |   2658226 | PA      | $2694178.33   | 1.52%             | 2029-12-17      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| BCPE EMPIRE HOLDINGS INC                     | BCPE Empire Holdings Inc 2025 2nd Lien Term Loan                           | CUSIP: 000000000<br>LEI: 549300O2G0VI2955B626 | Long             | LON              | CORP              | US        |   3200000 | PA      | $3168000.00   | 1.79%             | 2031-12-31      | Floating      | 9.47%                 | No            |                  3 | On Loan: No      |
| Packaging Coordinators Midco, Inc.           | Packaging Coordinators Midco Inc 2025 Term Loan                            | CUSIP: 000000000<br>LEI: 549300SL20D7D39KSB12 | Long             | LON              | CORP              | US        |   4890101 | PA      | $4853425.25   | 2.74%             | 2032-01-22      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| Ministry Brands PurchaserLLC                 | Ministry Brands PurchaserLLC Delayed Draw Term Loan                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    151625 | PA      | $149729.44    | 0.08%             | 2028-12-29      | Floating      | 9.76%                 | No            |                  3 | On Loan: No      |
| Shelby 2021 Holdings Corp                    | Shelby 2021 Holdings Corp 2021 Revolver                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    103502 | PA      | $103243.09    | 0.06%             | 2027-06-29      | Floating      | 9.57%                 | No            |                  3 | On Loan: No      |
| Dun & Bradstreet Corporation (The)           | Dun & Bradstreet Corporation (The) 2025 Term Loan                          | CUSIP: 000000000<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |   1818182 | PA      | $1818181.82   | 1.03%             | 2032-08-26      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| FLEXERA SOFTWARE LLC                         | Flexera Software LLC 2025 Revolver                                         | CUSIP: 000000000<br>LEI: FHBIRN3K4PSRU4ZOQQ49 | Long             | LON              | CORP              | US        |    199440 | PA      | $199190.69    | 0.11%             | 2032-08-16      | Floating      | 8.96%                 | No            |                  3 | On Loan: No      |
| PAVE AMERICA HOLDING LLC                     | Pave America Holding LLC 2025 Unitranche Term Loan                         | CUSIP: 000000000<br>LEI: 254900CDJTUWPJDDT508 | Long             | LON              | CORP              | US        |   2610745 | PA      | $2597691.75   | 1.46%             | 2032-08-27      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| W.A. Kendall and Company, LLC                | WA Kendall and Company LLC 2025 7th Amendment Term Loan                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    108181 | PA      | $108180.58    | 0.06%             | 2030-04-22      | Floating      | 10.38%                | No            |                  3 | On Loan: No      |
| Omni Fiber LLC                               | Omni Fiber LLC 2025 Incremental Delayed Draw Term Loan                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2300000 | PA      | $2277000.00   | 1.28%             | 2029-07-03      | Floating      | 9.58%                 | No            |                  3 | On Loan: No      |
| NEXTGEN HEALTHCARE INC                       | NextGen Healthcare Inc 2025 Incremental Term Loan                          | CUSIP: 000000000<br>LEI: 549300N5HIPS1URF0F20 | Long             | LON              | CORP              | US        |   1587909 | PA      | $1579969.76   | 0.89%             | 2030-11-12      | Floating      | 9.48%                 | No            |                  3 | On Loan: No      |
| BERLIN PACKAGING LLC                         | Berlin Packaging LLC 2021 2nd Lien Delayed Draw Term Loan                  | CUSIP: 000000000<br>LEI: 549300L1HNHO6QOXHH42 | Long             | LON              | CORP              | US        |     92684 | PA      | $92452.20     | 0.05%             | 2032-06-07      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| WA KENDALL AND COMPANY LLC                   | WA Kendall and Company LLC 2023 3rd Amendment Delayed Draw Term Loan       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    145457 | PA      | $145457.14    | 0.08%             | 2030-04-22      | Floating      | 10.47%                | No            |                  3 | On Loan: No      |
| MARCONE YELLOWSTONE BUYER INC                | MARCONE YELLOWSTONE BUYER INC DELAYED DRAW TERM LOAN                       | CUSIP: 000000000<br>LEI: 549300GK02UC5R040V61 | Long             | LON              | CORP              | US        |    918587 | PA      | $847396.83    | 0.48%             | 2028-06-23      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| CIRCANA GROUP LP                             | Circana Group LP 2025 Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3552440 | PA      | $3543559.15   | 2.00%             | 2029-12-01      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| WA KENDALL AND COMPANY LLC                   | WA Kendall and Company LLC 2024 Delayed Draw Term Loan                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6605 | PA      | $6604.99      | 0.00%             | 2030-04-22      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Packaging Coordinators Midco, Inc.           | Packaging Coordinators Midco Inc 2025 Revolver                             | CUSIP: 000000000<br>LEI: 549300SL20D7D39KSB12 | Long             | LON              | CORP              | US        |    493827 | PA      | $490123.46    | 0.28%             | 2032-01-22      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| MAGNETITE CLO LTD                            | MAGNETITE CLO LTD                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    900000 | PA      | $417069.90    | 0.24%             | 2031-07-20      | Variable      | 15.00%                | No            |                  2 | On Loan: No      |
| WRENCH GROUP LLC                             | WRENCH GROUP LLC 2025 DELAYED DRAW TERM LOAN                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    428571 | PA      | $426428.57    | 0.24%             | 2032-09-03      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| FLOWORKS INTERNATIONAL LLC                   | FloWorks International LLC 2024 Term Loan                                  | CUSIP: 000000000<br>LEI: 549300B33EBN05VKQE63 | Long             | LON              | CORP              | US        |   1680445 | PA      | $1672042.34   | 0.94%             | 2031-11-26      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| APTEAN                                       | APTEAN                                                                     | CUSIP: 000000000<br>LEI: 549300D5LUPGZUDZXC96 | Long             | EP               | CORP              | US        |   3431653 | NS      | $3431653.10   | 1.94%             |  |  |  | No            |                  3 | On Loan: No      |
| TYBER MEDICAL LLC                            | Tyber Medical LLC EUR Term Loan                                            | CUSIP: 000000000<br>LEI: 254900FN5IICYRZ0MB05 | Long             | LON              | CORP              | JE        |    223778 | PA      | $261624.40    | 0.15%             | 2032-06-14      | Floating      | 7.11%                 | No            |                  3 | On Loan: No      |
| MRI Software LLC                             | MRI Software LLC 2020 Term Loan                                            | CUSIP: 000000000<br>LEI: 549300LNQ2G4DKR9QR85 | Long             | LON              | CORP              | US        |    307116 | PA      | $304812.16    | 0.17%             | 2028-02-10      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| MODERNIZING MEDICINE INC                     | Modernizing Medicine Inc Revolver                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    102849 | PA      | $102334.76    | 0.06%             | 2032-04-30      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| OAKSWIFT HOLDINGS LIMITED                    | OAKSWIFT HOLDINGS LIMITED                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    456428 | NS      | $456427.73    | 0.26%             |  |  |  | No            |                  3 | On Loan: No      |
| USIC HOLDINGS INC                            | USIC Holdings Inc 2024 Term Loan                                           | CUSIP: 000000000<br>LEI: 5493009ZYUWB7X699U62 | Long             | LON              | CORP              | US        |   1673354 | PA      | $1664987.42   | 0.94%             | 2031-09-10      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| THG ACQUISITION LLC                          | THG Acquisition LLC 2024 Delayed Draw Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    500949 | PA      | $498444.29    | 0.28%             | 2031-10-31      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| FLEXERA SOFTWARE LLC                         | Flexera Software LLC 2025 USD Term Loan                                    | CUSIP: 000000000<br>LEI: FHBIRN3K4PSRU4ZOQQ49 | Long             | LON              | CORP              | US        |   2599368 | PA      | $2596118.62   | 1.46%             | 2032-08-16      | Floating      | 8.96%                 | No            |                  3 | On Loan: No      |
| All My Sons Moving and Storage of Kansas LLC | All My Sons Moving and Storage of Kansas LLC 2nd Lien Term Loan            | CUSIP: 000000000<br>LEI: 5493004M3F4OKJJF8C36 | Long             | LON              | CORP              | US        |   2900000 | PA      | $2885500.00   | 1.63%             | 2029-10-25      | Floating      | 12.03%                | No            |                  3 | On Loan: No      |
| CRICKET VALLEY ENERGY CENTER                 | CRICKET VALLEY ENERGY CENTER                                               | CUSIP: 000000000<br>LEI: 549300Q6I2TLPJT3E926 | N/A              | DE               |  | US        |      3152 | NS      | $55200.06     | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| Elmwood CLO V Ltd                            | Elmwood CLO V Ltd                                                          | CUSIP: 29003AAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3400000 | PA      | $2030085.60   | 1.14%             | 2037-10-20      | Variable      | 15.00%                | No            |                  2 | On Loan: No      |
| TYBER MEDICAL LLC                            | Tyber Medical LLC Delayed Draw Term Loan                                   | CUSIP: 000000000<br>LEI: 254900FN5IICYRZ0MB05 | Long             | LON              | CORP              | JE        |    316667 | PA      | $315083.67    | 0.18%             | 2032-06-14      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Diligent Corporation                         | Diligent Corporation 2024 Cash Pay Term Loan A1                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    841835 | PA      | $839730.30    | 0.47%             | 2030-08-02      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Shelby 2021 Holdings Corp                    | Shelby 2021 Holdings Corp 2021 Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2700557 | PA      | $2693805.80   | 1.52%             | 2028-06-29      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| ARAX MIDCO LLC                               | Arax MidCo LLC 2025 Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    516358 | PA      | $513776.21    | 0.29%             | 2029-04-11      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Sedgwick Claims Management Services, Inc.    | Sedgwick Claims Management Services Inc 2024 2nd Lien Term Loan            | CUSIP: 81527CAR8<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |   5000000 | PA      | $4987500.00   | 2.81%             | 2032-07-30      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| WA KENDALL AND COMPANY LLC                   | WA Kendall and Company LLC 2024 5th Amendment Delayed Draw Term Loan       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    140711 | PA      | $140710.80    | 0.08%             | 2030-04-22      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Diligent Corporation                         | Diligent Corporation 2024 PIK Term Loan A1                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    144315 | PA      | $143953.76    | 0.08%             | 2030-08-02      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| WRENCH GROUP LLC                             | WRENCH GROUP LLC 2025 REVOLVER                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    428571 | PA      | $426428.57    | 0.24%             | 2031-09-03      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| WA KENDALL AND COMPANY LLC                   | WA Kendall and Company LLC 2024 5th Amendment Term Loan                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    213462 | PA      | $213462.33    | 0.12%             | 2030-04-22      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| WRENCH GROUP LLC                             | WRENCH GROUP LLC 2025 TERM LOAN                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3142857 | PA      | $3127142.85   | 1.76%             | 2032-09-03      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| ORION US FINCO INC                           | ORION US FINCO INC 2nd LIEN TERM LOAN                                      | CUSIP: 68631KAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    500000 | PA      | $504165.00    | 0.28%             | 2033-05-20      | Floating      | 9.84%                 | No            |                  2 | On Loan: No      |
| MAGNETITE CLO LTD                            | MAGNETITE CLO LTD                                                          | CUSIP: 55954GAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $579263.75    | 0.33%             | 2037-04-20      | Variable      | 15.00%                | No            |                  2 | On Loan: No      |
| Beacon Pointe AdvisorsLLC                    | Beacon Pointe AdvisorsLLC 2021 Term Loan                                   | CUSIP: 000000000<br>LEI: 549300HX3PU2D2MUKZ84 | Long             | LON              | CORP              | US        |   1853225 | PA      | $1853224.60   | 1.05%             | 2028-12-29      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| THG ACQUISITION LLC                          | THG Acquisition LLC 2024 Revolver                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    250597 | PA      | $249344.02    | 0.14%             | 2031-10-31      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| FINASTRA USA INC                             | FINASTRA USA INC 2025 2nd LIEN TERM LOAN                                   | CUSIP: 31772YAB2<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |   4600000 | PA      | $4589650.00   | 2.59%             | 2033-09-15      | Floating      | 11.04%                | No            |                  2 | On Loan: No      |
| TYBER MEDICAL LLC                            | Tyber Medical LLC USD Term Loan                                            | CUSIP: 000000000<br>LEI: 254900FN5IICYRZ0MB05 | Long             | LON              | CORP              | JE        |   1118889 | PA      | $1113294.56   | 0.63%             | 2032-06-14      | Floating      | 8.88%                 | No            |                  3 | On Loan: No      |
| Infinite Bidco LLC                           | Infinite Bidco LLC 2023 Incremental Term Loan                              | CUSIP: 45674KAH8<br>LEI: 549300GLV0VRADA9LI65 | Long             | LON              | CORP              | US        |   1096924 | PA      | $1080470.53   | 0.61%             | 2028-03-02      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| WHEELS BIDCO INC                             | Wheels Bidco Inc Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2500000 | PA      | $2493750.00   | 1.41%             | 2031-11-03      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| ARAX MIDCO LLC                               | Arax MidCo LLC 2025 Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    883642 | PA      | $879223.79    | 0.50%             | 2029-04-11      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| Vantage Specialty Chemicals Inc              | Vantage Specialty Chemicals Inc 2025 Term Loan                             | CUSIP: 000000000<br>LEI: 54930057U5S5AY44VU09 | Long             | LON              | CORP              | US        |   1840796 | PA      | $1794776.10   | 1.01%             | 2029-08-29      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Shelby 2021 Holdings Corp                    | Shelby 2021 Holdings Corp 2021 Tranche 1 Delayed Draw Term Loan            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    752964 | PA      | $751081.32    | 0.42%             | 2028-06-29      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Learfield Communications, LLC                | Learfield Communications LLC 2024 Term Loan B                              | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |    891000 | PA      | $901117.29    | 0.51%             | 2028-06-30      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| TYBER MEDICAL LLC                            | Tyber Medical LLC Multicurrency Revolver                                   | CUSIP: 000000000<br>LEI: 254900FN5IICYRZ0MB05 | Long             | LON              | CORP              | JE        |     38440 | PA      | $38247.72     | 0.02%             | 2031-06-12      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| USIC HOLDINGS INC                            | USIC Holdings Inc 2024 Revolver                                            | CUSIP: 000000000<br>LEI: 5493009ZYUWB7X699U62 | Long             | LON              | CORP              | US        |    214582 | PA      | $213508.80    | 0.12%             | 2031-09-10      | Floating      | 9.48%                 | No            |                  3 | On Loan: No      |
| Vision Solutions Inc                         | Vision Solutions Inc 2021 2nd Lien Term Loan                               | CUSIP: 92834PAR4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3430000 | PA      | $3297807.80   | 1.86%             | 2029-04-23      | Floating      | 11.82%                | No            |                  2 | On Loan: No      |
| FERRELLGAS LP/FERRELLGAS                     | Ferrellgas LP / Ferrellgas Finance Corp                                    | CUSIP: 315289AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4100000 | PA      | $3815631.79   | 2.15%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Packaging Coordinators Midco, Inc.           | Packaging Coordinators Midco Inc 2025 Delayed Draw Term Loan               | CUSIP: 000000000<br>LEI: 549300SL20D7D39KSB12 | Long             | LON              | CORP              | US        |   2065095 | PA      | $2049607.18   | 1.16%             | 2032-01-22      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| Omni Fiber LLC                               | Omni Fiber LLC Delayed Draw Term Loan                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    333333 | PA      | $329999.67    | 0.19%             | 2029-07-03      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| DG Investment Intermediate Holdings 2, Inc.  | DG Investment Intermediate Holdings 2 Inc 2025 2nd Lien Term Loan          | CUSIP: 23344MAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1400000 | PA      | $1396500.00   | 0.79%             | 2033-07-31      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| IG INVESTMENT HOLDINGS LLC                   | IG Investment Holdings LLC 2024 Refinancing Term Loan                      | CUSIP: 000000000<br>LEI: 549300E2BEZMEPIYGU19 | Long             | LON              | CORP              | US        |   1837467 | PA      | $1837466.92   | 1.04%             | 2028-09-22      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| CHAMPIONS FINANCING INC                      | Champions Financing Inc                                                    | CUSIP: 15870LAA6<br>LEI: 391200ZDD75EGEUJ7625 | Long             | DBT              | CORP              | US        |   3175000 | PA      | $3066283.56   | 1.73%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Polaris Newco LLC                            | Polaris Newco LLC 2nd Lien Term Loan                                       | CUSIP: 000000000<br>LEI: 549300F7JH48O4IYRX29 | Long             | LON              | CORP              | US        |  10000000 | PA      | $9600000.00   | 5.41%             | 2029-06-04      | Floating      | 13.30%                | No            |                  3 | On Loan: No      |
| State Street Bank & Trust Co.                | PURCHASED USD / SOLD EUR                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $55284.01     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| KYMORA LIMITED                               | KYMORA LIMITED                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | CY        |      6888 | NS      | $4157362.41   | 2.34%             |  |  |  | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc                | Marcone Yellowstone Buyer Inc Term Loan                                    | CUSIP: 000000000<br>LEI: 549300GK02UC5R040V61 | Long             | LON              | CORP              | US        |   2764440 | PA      | $2550196.13   | 1.44%             | 2028-06-23      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| HPS CB AGGREGATOR, L.P                       | HPS CB AGGREGATOR, L.P                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    475456 | NS      | $522721.17    | 0.29%             |  |  |  | No            |                  3 | On Loan: No      |
| PT Intermediate Holdings III LLC             | PT Intermediate Holdings III LLC 2024 Term Loan                            | CUSIP: 000000000<br>LEI: 549300GS4WLFTDUXPD62 | Long             | LON              | CORP              | US        |   4145930 | PA      | $4145929.81   | 2.34%             | 2030-04-09      | Floating      | 7.25%                 | No            |                  3 | On Loan: No      |
| W.A. Kendall and Company, LLC                | WA Kendall and Company LLC Revolver                                        | CUSIP: 92941UAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     22326 | PA      | $22326.45     | 0.01%             | 2030-04-22      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| TRANSOCEAN INC                               | Transocean International Ltd                                               | CUSIP: 893814AA1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $400000.00    | 0.23%             | 2032-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Tyber Medical LLC                            | Tyber Medical LLC EUR Revolver                                             | CUSIP: 000000000<br>LEI: 254900FN5IICYRZ0MB05 | Long             | LON              | CORP              | JE        |     21111 | PA      | $24681.40     | 0.01%             | 2031-06-12      | Floating      | 7.00%                 | No            |                  3 | On Loan: No      |
| BEACH ACQUISITION BIDCO                      | Beach Acquisition Bidco LLC                                                | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3343852.20   | 1.89%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CRICKET VALLEY ENERGY CENTER                 | Cricket Valley Energy Center 2025 Term Loan                                | CUSIP: 000000000<br>LEI: 549300Q6I2TLPJT3E926 | Long             | LON              | CORP              | US        |   4342776 | PA      | $4198844.18   | 2.37%             | 2030-06-26      | Floating      | 13.16%                | No            |                  3 | On Loan: No      |
| Revlon Intermediate Holdings IV LLC          | Revlon Intermediate Holdings IV LLC 2023 Exit Term Loan                    | CUSIP: 000000000<br>LEI: 2MKZBE7NMX7EJWQLHS95 | Long             | LON              | CORP              | US        |   5970000 | PA      | $5922717.60   | 3.34%             | 2028-05-02      | Floating      | 10.95%                | No            |                  2 | On Loan: No      |
| Ministry Brands PurchaserLLC                 | Ministry Brands PurchaserLLC Term Loan                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1499294 | PA      | $1480552.62   | 0.83%             | 2028-12-29      | Floating      | 9.76%                 | No            |                  3 | On Loan: No      |
| GC WAVES HOLDINGS INC                        | GC Waves Holdings Inc 2024 Replacing Term Loan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3567728 | PA      | $3549889.45   | 2.00%             | 2030-10-04      | Floating      | 9.01%                 | No            |                  3 | On Loan: No      |
| FINASTRA USA INC                             | FINASTRA USA INC 2025 1st LIEN TERM LOAN                                   | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |   4900000 | PA      | $4885128.50   | 2.75%             | 2032-09-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                     | Brand Industrial Services Inc                                              | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |   4615000 | PA      | $4600291.53   | 2.59%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| BERLIN PACKAGING LLC                         | Berlin Packaging LLC 2021 EUR 2nd Lien Term Loan                           | CUSIP: 000000000<br>LEI: 549300L1HNHO6QOXHH42 | Long             | LON              | CORP              | US        |   1187513 | PA      | $1391838.70   | 0.78%             | 2032-06-07      | Floating      | 8.50%                 | No            |                  3 | On Loan: No      |
| RR Ltd                                       | RR 7 Ltd                                                                   | CUSIP: 74980CAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $332634.00    | 0.19%             | 2120-01-15      | Variable      | 15.00%                | No            |                  2 | On Loan: No      |
| W.A. Kendall and Company, LLC                | WA Kendall and Company LLC 2025 7th Amendment Delayed Draw Term Loan       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    162602 | PA      | $162601.63    | 0.09%             | 2030-04-22      | Floating      | 10.04%                | No            |                  3 | On Loan: No      |
| FLEXERA SOFTWARE LLC                         | Flexera Software LLC 2025 EUR Term Loan                                    | CUSIP: 000000000<br>LEI: FHBIRN3K4PSRU4ZOQQ49 | Long             | LON              | CORP              | US        |    784464 | PA      | $920592.78    | 0.52%             | 2032-08-16      | Floating      | 6.63%                 | No            |                  3 | On Loan: No      |
| Peraton Corp                                 | Peraton Corp 2nd Lien Term Loan B1                                         | CUSIP: 71360HAG2<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   1256180 | PA      | $757294.21    | 0.43%             | 2029-02-01      | Floating      | 12.05%                | No            |                  2 | On Loan: No      |
| OHA SFR MEMBER II, LLC                       | OHA SFR MEMBER II, LLC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    278250 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| PT Intermediate Holdings III LLC             | PT Intermediate Holdings III LLC 2024 Delayed Draw Term Loan               | CUSIP: 000000000<br>LEI: 549300GS4WLFTDUXPD62 | Long             | LON              | CORP              | US        |     65291 | PA      | $65290.96     | 0.04%             | 2030-04-09      | Floating      | 7.55%                 | No            |                  3 | On Loan: No      |
| PARK RIVER HOLDINGS INC                      | Park River Holdings Inc                                                    | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |    800000 | PA      | $810139.42    | 0.46%             | 2031-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Vantage Specialty Chemicals Inc              | Vantage Specialty Chemicals Inc 2025 Revolver                              | CUSIP: 000000000<br>LEI: 54930057U5S5AY44VU09 | Long             | LON              | CORP              | US        |    159204 | PA      | $155223.90    | 0.09%             | 2029-03-01      | Floating      | 10.41%                | No            |                  3 | On Loan: No      |
| Diligent Corporation                         | Diligent Corporation 2024 Revolver                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    186700 | PA      | $186233.25    | 0.11%             | 2030-08-02      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| SABRE GLBL INC                               | Sabre GLBL Inc                                                             | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    700000 | PA      | $677915.00    | 0.38%             | 2030-07-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| ASP UNIFRAX HLDGS INC                        | ASP UNIFRAX HLDGS INC                                                      | CUSIP: 00218LAG6<br>LEI: 549300RRU6BWJLD0YT71 | Long             | DBT              | CORP              | US        |   1506481 | PA      | $1385959.79   | 0.78%             | 2029-09-30      | Fixed         | 11.18%                | No            |                  2 | On Loan: No      |
| DRIVECENTRIC HOLDINGS LLC                    | Drivecentric Holdings LLC 2025 1st Amendment Delayed Draw Term Loan        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    350000 | PA      | $348250.00    | 0.20%             | 2031-08-15      | Floating      | 8.82%                 | No            |                  3 | On Loan: No      |
| MRI Software LLC                             | MRI Software LLC 2020 Term Loan B                                          | CUSIP: 000000000<br>LEI: 549300LNQ2G4DKR9QR85 | Long             | LON              | CORP              | US        |   1939234 | PA      | $1924689.53   | 1.09%             | 2028-02-10      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                     | Madison Park Funding XXVIII Ltd                                            | CUSIP: 55821BAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1438000 | PA      | $622433.99    | 0.35%             | 2030-07-15      | Variable      | 15.00%                | No            |                  2 | On Loan: No      |
| Crash Champions LLC                          | Crash Champions LLC 2024 Term Loan B                                       | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |    992462 | PA      | $932294.29    | 0.53%             | 2029-02-23      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| EAGAN PARENT INC                             | EAGAN PARENT INC DELAYED DRAW TERM LOAN                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    953694 | PA      | $951310.05    | 0.54%             | 2032-09-08      | Floating      | 8.65%                 | No            |                  3 | On Loan: No      |
| FLOWORKS INTERNATIONAL LLC                   | FloWorks International LLC 2024 Delayed Draw Term Loan                     | CUSIP: 000000000<br>LEI: 549300B33EBN05VKQE63 | Long             | LON              | CORP              | US        |    211111 | PA      | $210055.45    | 0.12%             | 2031-11-26      | Floating      | 9.57%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe AdvisorsLLC                    | Beacon Pointe AdvisorsLLC 2021 Delayed Draw Term Loan                      | CUSIP: 000000000<br>LEI: 549300HX3PU2D2MUKZ84 | Long             | LON              | CORP              | US        |    726897 | PA      | $726897.18    | 0.41%             | 2028-12-29      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| KYMORA LIMITED                               | KYMORA LIMITED                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | CY        |         1 | NS      | $1.17         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                     | California Resources Corp                                                  | CUSIP: 13057QAL1<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    800000 | PA      | $794492.96    | 0.45%             | 2034-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MRI Software LLC                             | MRI Software LLC 2020 Revolver                                             | CUSIP: 000000000<br>LEI: 549300LNQ2G4DKR9QR85 | Long             | LON              | CORP              | US        |    138598 | PA      | $137558.48    | 0.08%             | 2028-02-10      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| EAGAN PARENT INC                             | EAGAN PARENT INC TERM LOAN                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3814777 | PA      | $3805240.24   | 2.15%             | 2032-09-08      | Floating      | 8.65%                 | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc                | Marcone Yellowstone Buyer Inc Incremental Term Loan                        | CUSIP: 56629EAB8<br>LEI: 549300GK02UC5R040V61 | Long             | LON              | CORP              | US        |     99675 | PA      | $91950.62     | 0.05%             | 2028-06-23      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| Finastra USA Inc                             | Finastra USA Inc 2023 Term Loan                                            | CUSIP: 000000000<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |    975000 | PA      | $984749.95    | 0.56%             | 2029-09-13      | Floating      | 11.29%                | No            |                  3 | On Loan: No      |
| BANYAN SOFTWARE HOLDINGS LLC                 | Banyan Software Holdings LLC 2024 Revolver                                 | CUSIP: 000000000<br>LEI: 549300AUV768Y2X3WV52 | Long             | LON              | CORP              | US        |    326087 | PA      | $325271.74    | 0.18%             | 2031-01-02      | Floating      | 9.57%                 | No            |                  3 | On Loan: No      |
| THG ACQUISITION LLC                          | THG Acquisition LLC 2024 Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2236969 | PA      | $2225784.12   | 1.26%             | 2031-10-31      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| Ministry Brands PurchaserLLC                 | Ministry Brands PurchaserLLC Revolver                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    149153 | PA      | $147288.13    | 0.08%             | 2027-12-30      | Floating      | 9.76%                 | No            |                  3 | On Loan: No      |
| PAI Holdco Inc                               | PAI Holdco Inc 2020 Term Loan B                                            | CUSIP: 69315JAG8<br>LEI: 2549001NJ55NUV372F56 | Long             | LON              | CORP              | US        |    895312 | PA      | $752062.30    | 0.42%             | 2027-10-28      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| PAVE AMERICA HOLDING LLC                     | PAVE AMERICA HOLDING LLC 2025 DELAYED DRAW TERM LOAN                       | CUSIP: 000000000<br>LEI: 254900CDJTUWPJDDT508 | Long             | LON              | CORP              | US        |    905771 | PA      | $901241.79    | 0.51%             | 2032-08-27      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| BERLIN PACKAGING LLC                         | Berlin Packaging LLC 2022 EUR Second Lien Delayed Draw Term Loan           | CUSIP: 000000000<br>LEI: 549300L1HNHO6QOXHH42 | Long             | LON              | CORP              | US        |    201588 | PA      | $236273.10    | 0.13%             | 2032-06-07      | Floating      | 8.50%                 | No            |                  3 | On Loan: No      |
| MetroNet Infrastructure Issuer LLC           | MetroNet Infrastructure Issuer LLC                                         | CUSIP: 59170JBB3<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1014521.60   | 0.57%             | 2055-08-20      | Fixed         | 7.83%                 | No            |                  2 | On Loan: No      |
| PAVE AMERICA HOLDING LLC                     | Pave America Holding LLC 2025 Revolver                                     | CUSIP: 000000000<br>LEI: 254900CDJTUWPJDDT508 | Long             | LON              | CORP              | US        |    679328 | PA      | $675931.33    | 0.38%             | 2032-08-27      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe Harmony LLC                    | Beacon Pointe Harmony LLC Delayed Draw Term Loan                           | CUSIP: 000000000<br>LEI: 254900IBRIK7Y5Z6YN33 | Long             | LON              | CORP              | US        |    207412 | PA      | $207412.02    | 0.12%             | 2028-12-29      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| Poly-Wood, LLC,                              | Poly-Wood LLC 2025-1 Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1293487 | PA      | $1287019.43   | 0.73%             | 2030-03-20      | Floating      | 9.04%                 | No            |                  3 | On Loan: No      |
| FERRELLGAS LP/FERRELLGAS                     | Ferrellgas LP / Ferrellgas Finance Corp                                    | CUSIP: 315289AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2371000 | PA      | $2347110.04   | 1.32%             | 2026-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DRIVECENTRIC HOLDINGS LLC                    | Drivecentric Holdings LLC 2025-1 Incremental Term Loan                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    350000 | PA      | $348250.00    | 0.20%             | 2031-08-15      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| OHA SFR MEMBER II, LLC                       | OHA SFR MEMBER II, LLC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       141 | NS      | $3686621.62   | 2.08%             |  |  |  | No            |                  3 | On Loan: No      |
| Dun & Bradstreet Corporation (The)           | Dun & Bradstreet Corporation (The) 2025 Revolver                           | CUSIP: 000000000<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |    181818 | PA      | $181818.18    | 0.10%             | 2032-08-26      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-14

**Name of Applicant:** T. Rowe Price OHA Flexible Credit Income Fund

**Signature:** Thomas Hansen

**Name of Signer:** Thomas Hansen

**Title:** CFO - Registered Funds