# EDGAR Filing Document

**Accession Number:** 0001633336
**File Stem:** 0001193125-26-070903
**Filing Date:** 2026-2
**Character Count:** 29078
**Document Hash:** 9c384474caffbb283adf602ae015730e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-070903.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001193125-26-070903

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260225

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Crescent Capital BDC, Inc.
- **CENTRAL INDEX KEY:** 0001633336

**ORGANIZATION NAME:**
- **EIN:** 473162282
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01132
- **FILM NUMBER:** 26677463

**BUSINESS ADDRESS:**
- **STREET 1:** 11100 SANTA MONICA BLVD.
- **STREET 2:** SUITE 2000
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025
- **BUSINESS PHONE:** 310-235-5971

**MAIL ADDRESS:**
- **STREET 1:** 11100 SANTA MONICA BLVD.
- **STREET 2:** SUITE 2000
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM** 8-K

**CURRENT REPORT**

**Pursuant to section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of Earliest Event Reported):** February 25, 2026

Crescent Capital BDC, Inc.

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| Maryland | 814-01132 | 47-3162282 |
| **(State or Other Jurisdiction of**<br>**Incorporation or Organization)** | **(Commission**<br>**File Number)** | **(I.R.S. Employer<br>Identification No.)** |
| 11100 Santa Monica Blvd.**,** Suite 2000**,** |  |  |
| Los Angeles**,** CA |  | 90025 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** (310) 235-5900

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to 12(b) of the Act:

**Securities registered pursuant to Section 12(g) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value per share | CCAP | The Nasdaq Stock Market LLC |
| 5.00% Notes due 2026 | FCRX | The New York Stock Exchange |
|  | **Common Stock, par value $0.001 per share** |  |
|  | **(Title of class)** |  |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02. Results of Operations and Financial Condition.**

On February 25, 2026, Crescent Capital BDC, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended and fiscal year December 31, 2025. The text of the press release is included as Exhibit 99.1 to this Form 8-K.

The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

**Exhibits**

---

| | |
|:---|:---|
| **<u>Number</u>** | **<u>Description</u>** |
| 99.1 | [<u>Press Release, dated February 25, 2026</u>](ccap-ex99_1.htm) |
| 104  | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRESCENT CAPITAL BDC, INC. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRESCENT CAPITAL BDC, INC. |
| Date: February 25, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ Gerhard Lombard |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: | Gerhard Lombard |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: | Chief Financial Officer |

---

------

## Exhibit 99.1

![img9012598_0.jpg](img9012598_0.jpg)<br>

**Crescent Capital BDC, Inc. Reports Fourth Quarter 2025 Earnings Results; <br>Declares a First Quarter Base Dividend of $0.42 Per Share**

LOS ANGELES, February 25, 2026 — Crescent Capital BDC, Inc. ("Crescent BDC" or "Company") (NASDAQ: CCAP) today reported net investment income of $1.81 per share and net income of $0.93 per share for the year ended December 31, 2025. For the quarter ended December 31, 2025, net investment income and net income per share were $0.45 and $0.23, respectively. Reported net asset value (NAV) per share was $19.10 at December 31, 2025. The Company announced that its Board of Directors (the "Board") declared a first quarter 2026 regular cash dividend of $0.42 per share to stockholders of record as of March 31, 2026, payable on April 15, 2026.

**Selected Financial Highlights**

*($ in millions, except per share amounts)*

---

| | | | |
|:---|:---|:---|:---|
|  | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** |
|  | **December 31, 2025** | **September 30, 2025** | **December 31, 2024** |
| Investments, at fair value | $1569.4 | $1580.7 | $1598.9 |
| Total assets | $1622.1 | $1627.6 | $1656.3 |
| Total net assets | $706.0 | $714.1 | $740.6 |
| Net asset value per share | $19.10 | $19.28 | $19.98 |
| Investment income | $40.8 | $41.4 | $46.4 |
| Net investment income | $16.5 | $16.9 | $20.5 |
| Net realized gains (losses), net of taxes | $3.2 | $(5.0) | $(3.2) |
| Net change in unrealized gains (losses), net of taxes | $(11.2) | $(4.8) | $(7.3) |
| Net increase (decrease) in net assets resulting from operations | $8.5 | $7.1 | $10.0 |
| Net investment income per share | $0.45 | $0.46 | $0.55 |
| Net realized gains (losses) per share, net of taxes | $0.09 | $(0.14) | $(0.09) |
| Net change in unrealized gains (losses) per share, net of taxes | $(0.30) | $(0.13) | $(0.19) |
| Net increase (decrease) in net assets resulting from operations per share<sup>1</sup> | $0.23 | $0.19 | $0.27 |
| Regular distributions paid per share | $0.42 | $0.42 | $0.42 |
| Supplemental distributions paid per share | $- | $- | $0.07 |
| Special distributions paid per share | $- | $0.05 | $- |
| Weighted average yield on income producing securities (at cost)<sup>2</sup> | 10.0% | 10.4% | 10.9% |
| Percentage of debt investments at floating rates | 98.0% | 97.4% | 97.3% |

---

**Portfolio & Investment Activity** 

As of December 31, 2025 and December 31, 2024, the Company had investments in 184 and 185 portfolio companies with an aggregate fair value of $1,569.4 and $1,598.9 million, respectively. The portfolio at fair value was comprised of the following asset types:

**Portfolio Asset Types:**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** | **As of** |
| *$ in millions* | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
| **Investment Type** | **Fair Value** | **Percentage** | **Fair Value** | **Percentage** |
| Senior secured first lien | $350.8 | 22.4% | $379.7 | 23.7% |
| Unitranche first lien<sup>3</sup> | 1047.8 | 66.7 | 1044.1 | 65.3 |
| Unitranche first lien - last out<sup>3</sup> | 26.2 | 1.7 | 14.8 | 0.9 |
| Senior secured second lien | 12.2 | 0.8 | 38.5 | 2.4 |
| Unsecured debt | 19.0 | 1.2 | 17.5 | 1.1 |
| Equity & other | 77.2 | 4.9 | 64.9 | 4.1 |
| LLC/LP equity interests | 36.2 | 2.3 | 39.4 | 2.5 |
| **Total investments** | $1569.4 | 100.0% | $1598.9 | 100.0% |

---

***Full Year*** 

For the year ended December 31, 2025, the Company invested $306.9 million across 25 new portfolio companies, 41 existing portfolio companies and several follow-on revolver and delayed draw fundings. For this period, the Company had $334.8 million in aggregate exits, sales and repayments. For the year ended December 31, 2024, the Company invested $395.0 million across 33 new portfolio companies, 30 existing portfolio companies and several follow-on revolver and delayed draw fundings. For this period, the Company had $371.1 million in aggregate exits, sales and repayments.

------

![img9012598_0.jpg](img9012598_0.jpg)<br>

***Fourth Quarter***

For the quarter ended December 31, 2025, the Company invested $70.8 million across five new portfolio companies and several follow-on revolver and delayed draw fundings. During this period, the Company had $78.1 million in aggregate exits, sales and repayments. For the quarter ended September 30, 2025, the Company invested $73.9 million across seven new portfolio companies and several follow-on revolver and delayed draw fundings. For this period, the Company had $86.0 million in aggregate exits, sales and repayments.

**Results of Operations** 

***Full Year***

For the year ended December 31, 2025, investment income decreased to $167.3 million from $197.4 million for the year ended December 31, 2024. Interest income, which includes amortization of upfront fees, decreased to $156.4 million for the year ended December 31, 2025 from $183.0 million for the year ended December 31, 2024, due to a decrease in benchmark rates and the restructuring of certain debt investments. Included in interest from investments for the years ended December 31, 2025 and 2024 are $2.3 million and $3.7 million of accelerated accretion of OID related to paydown activity, respectively. Dividend income decreased to $7.7 million for the year ended December 31, 2025 from $11.3 million for the year ended December 31, 2024 due to lower dividend distributions from our investment in First Eagle Logan JV, LLC. Other income, which includes consent, waiver, amendment, agency, underwriting and arranger fees, was $3.2 million and $3.1 million for the years ended December 31, 2025 and 2024, respectively. The increase is attributable to higher origination-related fee income.

For the years ended December 31, 2025 and 2024, total expenses, including income and excise taxes, totaled $100.4 million and $108.4 million, respectively. Interest and other debt financing costs decreased from $62.8 million for the year ended December 31, 2024 to $57.5 million for the year ended December 31, 2025, due to lower benchmark rates.

***Fourth Quarter***

For the quarter ended December 31, 2025, investment income decreased to $40.8 million from $41.4 million for the quarter ended September 30, 2025. Interest income, which includes amortization of upfront fees, decreased to $37.7 million for the quarter ended December 31, 2025 from $38.8 million for the quarter ended September 30, 2025, primarily due to a decrease in benchmark rates. Included in interest from investments for the quarters ended December 31, 2025 and September 30, 2025 are $0.4 million and $0.3 million of accelerated accretion of OID related to paydown activity, respectively. Dividend income increased to $2.3 million for the quarter ended December 31, 2025 from $2.2 million for the quarter ended September 30, 2025. Other income, which includes consent, waiver, amendment, agency, underwriting and arranger fees, was $0.8 million and $0.4 million for the quarters ended December 31, 2025 and September 30, 2025, respectively.

For the three months ended December 31, 2025 and September 30, 2025, total net expenses, including income and excise taxes, totaled $24.4 million and $24.5 million, respectively.

**Liquidity and Capital Resources**

As of December 31, 2025, the Company had $31.5 million in cash and cash equivalents and restricted cash and $242.0 million of undrawn capacity on its credit facilities, subject to borrowing base and other limitations. The weighted average cost of debt on the Company's debt outstanding as of December 31, 2025 was 5.83%.

The Company's debt to equity ratio was 1.25x as of December 31, 2025.

**Conference Call**

The Company will host a webcast/conference call on Thursday, February 26, 2026 at 12:00 p.m. (Eastern Time) to discuss its financial results for the quarter and fiscal year ended December 31, 2025. Please visit Crescent BDC's webcast link located on the Events & Presentations page of the Investor Relations section of Crescent BDC's website for a slide presentation that complements the earnings conference call.

All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Events & Presentations page of the Investor Resources section of Crescent BDC's website at www.crescentbdc.com. Please visit the website to test your connection before the webcast. Participants are also invited to access the conference call by dialing the following number:

Toll Free: (800) 715-9871

Conference ID: 1217499

All callers will need to reference the Conference ID once connected with the operator. An archived replay will be available via a webcast link located on the Investor Relations section of Crescent BDC's website.

**Endnotes**

------

![img9012598_0.jpg](img9012598_0.jpg)<br>

Note: Numbers may not sum due to rounding.

1)Figures may not sum due to rounding.

2)Yield includes performing debt and other income producing investments (excluding investments on non-accrual).

3)Unitranche loans are first lien loans that may extend deeper in a company's capital structure than traditional first lien debt and may provide for a waterfall of cash flow priority among different lenders in the unitranche loan. In certain instances, the Company may find another lender to provide the "first out" portion of such loan and retain the "last out" portion of such loan, in which case, the "first out" portion of the loan would generally receive priority with respect to payment of principal, interest and any other amounts due thereunder over the "last out" portion that the Company would continue to hold. In exchange for the greater risk of loss, the "last out" portion earns a higher interest rate.

**Crescent Capital BDC, Inc.**

------

![img9012598_0.jpg](img9012598_0.jpg)<br>

**Consolidated Statements of Assets and Liabilities**

**(in thousands except share and per share data)**

---

| | | |
|:---|:---|:---|
|  | **As of <br>December 31, 2025** | **As of <br>December 31, 2024** |
| **Assets** |  |  |
| Investments, at fair value |  |  |
| &nbsp;&nbsp;Non-controlled non-affiliated investments (cost of $1,504,658 and $1,511,386, respectively) | $1479473 | $1504013 |
| &nbsp;&nbsp;Non-controlled affiliated investments (cost of $26,826 and $46,104, respectively) | 29594 | 46793 |
| &nbsp;&nbsp;Controlled investments (cost of $71,985 and $66,416, respectively) | 60351 | 48051 |
| Cash and cash equivalents | 5043 | 10130 |
| Restricted cash and cash equivalents | 26454 | 29292 |
| Interest and dividend receivable | 9333 | 11008 |
| Receivable from unsettled transactions | 8019 | 1163 |
| Unrealized appreciation on foreign currency forward contracts | 2135 | 4815 |
| Deferred tax assets | 190 | 746 |
| Other assets | 1543 | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $1622135 | $1656274 |
| **Liabilities** |  |  |
| Debt (net of deferred financing costs of $5,841 and $8,214, respectively) | $873761 | $875837 |
| Distributions payable | 15527 | 15566 |
| Interest and other debt financing costs payable | 12370 | 10408 |
| Management fees payable | 5037 | 5066 |
| Incentive fees payable | 3468 | 4305 |
| Deferred tax liabilities | 190 | 746 |
| Unrealized depreciation on foreign currency forward contracts | 2134 |  |
| Accrued expenses and other liabilities | 3610 | 3709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | $916097 | $915637 |
| **Net assets** |  |  |
| Preferred stock, par value $0.001 per share (10,000 shares authorized, <br>zero outstanding, respectively) | $— | $— |
| Common stock, par value $0.001 per share (200,000,000 shares authorized, 36,969,285 and 37,061,547 shares issued and outstanding, respectively) | 37 | 37 |
| Paid-in capital in excess of par value | 957030 | 959098 |
| Accumulated earnings (loss) | (251029) | (218498) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total net assets** | $706038 | $740637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and net assets** | $1622135 | $1656274 |
| Net asset value per share | $19.10 | $19.98 |

---

------

![img9012598_0.jpg](img9012598_0.jpg)<br>

**Crescent Capital BDC, Inc.**

**Consolidated Statements of Operations**

**(in thousands except share and per share data)**

---

| | | | |
|:---|:---|:---|:---|
|  | **For the years ended December 31,** | **For the years ended December 31,** | **For the years ended December 31,** |
|  | **2025** | **2024** | **2023** |
| **Investment Income:** |  |  |  |
| &nbsp;&nbsp;From non-controlled non-affiliated investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | $142935 | $166912 | $162089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paid-in-kind interest | 8441 | 9592 | 3191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | 521 | 497 | 438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 3106 | 3056 | 658 |
| &nbsp;&nbsp;From non-controlled affiliated investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | 2525 | 3834 | 2974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paid-in-kind interest | 1375 | 1529 | 816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | 697 | 1058 | 2058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 4 | 16 | 309 |
| &nbsp;&nbsp;From controlled investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | 1103 | 1077 | 609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paid-in-kind interest |  |  | 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | 6520 | 9784 | 10800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 58 | 8 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 167285 | 197363 | 184134 |
| **Expenses:** |  |  |  |
| &nbsp;&nbsp;Interest and other debt financing costs | 57438 | 62761 | 58742 |
| &nbsp;&nbsp;Management fees | 20303 | 20223 | 19613 |
| &nbsp;&nbsp;Income based incentive fees | 14174 | 18855 | 17451 |
| &nbsp;&nbsp;Professional fees | 2832 | 2027 | 1593 |
| &nbsp;&nbsp;Directors' fees | 645 | 618 | 600 |
| &nbsp;&nbsp;Other general and administrative expenses | 3438 | 2561 | 2753 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total expenses** | 98830 | 107045 | 100752 |
| &nbsp;&nbsp;Management fees waiver | (53) | (125) | (190) |
| &nbsp;&nbsp;Income based incentive fees waiver | (90) | (145) | (276) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net expenses** | 98687 | 106775 | 100286 |
| Net investment income before taxes | 68598 | 90588 | 83848 |
| &nbsp;&nbsp;Provision for income and excise taxes | 1682 | 1555 | 1307 |
| **Net investment income** | 66916 | 89033 | 82541 |
| **Net realized and unrealized gains (losses) on investments:** |  |  |  |
| &nbsp;&nbsp;Net realized gain (loss) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-controlled non-affiliated investments | (8647) | (6969) | (12465) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-controlled affiliated investments | 1348 | (5214) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Controlled investments | (3800) | 6443 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency transactions | (147) | (1171) | (1435) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency forward contracts |  | 3223 | 1021 |
| &nbsp;&nbsp;Net change in unrealized appreciation (depreciation) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-controlled non-affiliated investments and foreign currency translation | (25157) | (1154) | 21772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-controlled affiliated investments | 2079 | 4154 | (4505) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Controlled investments | 6731 | (14931) | (1171) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency forward contracts | (4814) | (229) | (2954) |
| &nbsp;&nbsp;Net realized and unrealized gains (losses) on investments | (32407) | (15848) | 263 |
| &nbsp;&nbsp;Benefit (provision) for taxes on realized gain on investments |  |  | 132 |
| &nbsp;&nbsp;Benefit (provision) for taxes on unrealized appreciation (depreciation) on investments |  | 464 | 901 |
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | $34509 | $73649 | $83837 |
| **Per common share data:** |  |  |  |
| &nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations per share (basic and diluted): | $0.93 | $1.99 | $2.33 |
| &nbsp;&nbsp;Net investment income per share (basic and diluted): | $1.81 | $2.40 | $2.30 |
| &nbsp;&nbsp;Weighted average shares outstanding (basic and diluted): | 37044305 | 37061547 | 35928203 |

---

------

![img9012598_0.jpg](img9012598_0.jpg)<br>

**About Crescent BDC**

Crescent BDC is a business development company that seeks to maximize the total return of its stockholders in the form of current income and capital appreciation by providing capital solutions to middle market companies with sound business fundamentals and strong growth prospects. Crescent BDC utilizes the extensive experience, origination capabilities and disciplined investment process of Crescent. Crescent BDC is externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent. Crescent BDC has elected to be regulated as a business development company under the Investment Company Act of 1940. For more information about Crescent BDC, visit www.crescentbdc.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.

**About Crescent Capital Group**

Crescent is a global credit investment manager with approximately $50 billion of assets under management. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, Chicago, London and Frankfurt with over 250 employees globally. Crescent is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. For more information about Crescent, visit www.crescentcap.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.

**Contact:**

Dan McMahon

daniel.mcmahon@crescentcap.com

212-364-0149

**Forward-Looking Statements** 

This press release, and other statements that Crescent BDC may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Crescent BDC's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" or similar expressions.

Crescent BDC cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which may change over time. Forward-looking statements speak only as of the date they are made, and Crescent BDC assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

In addition to factors previously disclosed in Crescent BDC's SEC reports and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (1) our future operating results; (2) our business prospects and the prospects of our portfolio companies; (3) the impact of investments that we expect to make; (4) our contractual arrangements and relationships with third parties; (5) the dependence of our future success on the general economy and its impact on the industries in which we invest; (6) the financial condition of and ability of our current and prospective portfolio companies to achieve their objectives; (7) our expected financings and investments; (8) the adequacy of our cash resources and working capital, including our ability to obtain continued financing on favorable terms; (9) the timing of cash flows, if any, from the operations of our portfolio companies; (10) the impact of increased competition; (11) the ability of our investment adviser to locate suitable investments for us and to monitor and administer our investments; (12) potential conflicts of interest in the allocation of opportunities between us and other investment funds managed by our investment adviser or its affiliates; (13) the ability of our investment adviser to attract and retain highly talented professionals; (14) changes in law and policy accompanying the current administration and uncertainty pending any such changes; (15) increased geopolitical unrest, terrorist attacks or acts of war, which may adversely affect the general economy, domestic and local financial and capital markets, or the specific industries of our portfolio companies; (16) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets; (17) the unfavorable resolution of legal proceedings; and (18) the impact of changes to tax legislation and, generally, our tax position.

Crescent BDC's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC, identifies additional factors that can affect forward-looking statements.

**Other Information**

The information in this press release is summary information only and should be read in conjunction with Crescent BDC's annual report on Form 10-K for the year ended December 31, 2025, which Crescent BDC filed with the U.S. Securities and Exchange Commission (the SEC) on February 25, 2026, as well as Crescent BDC's other reports filed with the SEC. A copy of Crescent BDC's annual report on Form 10-K for the year ended December 31, 2025, Crescent BDC's quarterly reports on Form 10-Q and Crescent BDC's other reports filed with the SEC can be found on Crescent BDC's website at www.crescentbdc.com and the SEC's website at www.sec.gov.

------