Aggregate net unrealized depreciation for U.S. federal income tax purposes is $15,058; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $2,737 and $17,795, respectively, based on a tax cost of $249,568. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These investments are generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. All investments are Level 3 unless otherwise indicated.

[2]

Aggregate net unrealized depreciation for U.S. federal income tax purposes is $10,650; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $3,465 and
$14,115, respectively, based on a tax cost of $327,205. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as
amended (the “Securities Act”). These investments are generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. All investments
are Level 3 unless otherwise indicated.

[3]

† Non-income producing security.

[4]

Denotes a Level 1 investment.

[5]

Indicates assets that the Company believes may not represent “qualifying assets” under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). If the Company fails to invest a sufficient portion of its assets in qualifying assets, it could be prevented from making follow-on investments in existing portfolio companies or could be required to dispose of investments at inappropriate times in order to comply with the 1940 Act. As of September 30, 2025, on a fair value basis, non-qualifying assets in the Company’s portfolio represented 11.4% of the total assets of the Company.

[6]

Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR or PRIME rate. These instruments are often subject to a SOFR or PRIME rate floor.

[7]

Indicates an investment that is wholly or partially held by the Company through its wholly-owned financing subsidiary SCP Private Credit Income BDC SPV LLC (the “SPV”). Such investments are pledged as collateral under the DB Facility (see Note 5 to the consolidated financial statements) and are not generally available to creditors, if any, of the Company.

[8]

Floating rate debt investments typically bear interest at a rate determined by reference to either the Secured Overnight Financing Rate or the prime index rate, and which typically reset monthly, quarterly or semi-annually. For each debt investment, we have provided the current interest rate in effect as of December 31, 2024.

[9]

Indicates assets that the Company believes may not represent “qualifying assets” under Section 55(a) of the 1940 Act. If the Company fails to invest a sufficient portion of its assets in qualifying assets, it could be prevented from making follow-on investments in existing portfolio companies or could be required to dispose of investments at inappropriate times in order to comply with the 1940 Act. As of December 31, 2024, on a fair value basis, non-qualifying assets in the Company’s portfolio represented 8.0% of the total assets of the Company.

[10]

Kaseya, Inc. may elect to defer up to 2.50% of the coupon as PIK.

[11]

Spread is S+200 Cash / 4.75% PIK.

[12]

Spread is S+600 Cash / 1.00% PIK.

[13]

Spread is S+450 Cash / 1.00% PIK.

[14]

Denotes investments in which we are an “Affiliated Person” but do not exercise a controlling influence, as defined in the 1940 Act, due to beneficially owning, either directly or through one or
more controlled companies, more than 5% but less than 25% of the outstanding voting securities of the investment. Transactions during the year ended December 31, 2024 in these affiliated
investments are as follows:


Name of Issuer	Fair Value at December 31, 2023		Gross Additions		Gross Reductions		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Fair Value at December 31, 2024		Interest/ Dividend Income
SLR-AMI Topco Blocker, LLC	$	13,958	$	—	$	—	$	—	$	(2,718	)	$	11,240	$	0
Vapotherm, Inc.		—		4,947		—		—		24			4,993		170
Veronica Holdings, LLC (Preferred Equity)		—		9,712		—		—		470			10,223		294
Veronica Holdings, LLC (Common Equity)		—		118		—		—		106			224		0
	$	13,958	$	14,777	$	—	$	—	$	(2,118	)	$	26,680	$	464

The change in fair value in the table above may not roll across due to the recognition of accretion income, which is included in interest income.

[15]

Certain tranches have a spread of S+575 and certain tranches have a spread of S+625.

[16]

Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR or PRIME rate. These instruments are often subject to a SOFR or PRIME rate floor.

[17]

[18]

Floating rate debt investments typically bear interest at a rate determined by reference to either the Secured Overnight Financing Rate (“SOFR” or “S”) or the prime index rate (“PRIME” or “P”), and which typically reset monthly, quarterly or semi-annually. For each debt investment, we have provided the current interest rate in effect as of September 30, 2025.

[19]

Spread is S+600 Cash / 0.50% PIK.

[20]

Spread is S+200 Cash / 4.75% PIK.

[21]

Spread is S+600 Cash/1.00% PIK.

[22]

Spread is S+450 Cash / 1.00% PIK.

[23]

Denotes investments in which the Company is an “Affiliated Person” but does not exercise a controlling influence, as defined in the 1940 Act, due to beneficially owning, either directly or through one or more controlled companies, more than 5% but less than 25% of the outstanding voting securities of the investment. Transactions during the nine months ended September 30, 2025 in these affiliated investments are as follows:


Name of Issuer	Fair Value at December 31, 2024		Gross Additions		Gross Reductions		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Fair Value at September 30, 2025		Interest/ Dividend Income
SLR-AMI Topco Blocker, LLC	$	11,240	$	1,074	$	—	$	—	$	(1,752	)	$	10,562	$	—
Vapotherm, Inc.		4,993		—		—		—		(23	)		5,030		444
Veronica Holdings, LLC (Preferred Equity)		10,223		706		—		—		(116	)		10,929	821
Veronica Holdings, LLC (Common Equity)		224		—		—		—		—			224		—
	$	26,680	$	1,780	$	—	$	—	$	(1,891	)	$	26,745	$	1,265

The change in fair value in the table above may not roll across due to the recognition of accretion income, which is included in interest income.

[24]

Certain tranches have a spread of S+575 and certain tranches have a spread of S+625.

[25]

† Non-income producing security.

[26]

Denotes a Level 1 investment.

[27]

Through this entity and other intermediate entities, the Company owns approximately 5.0% of the underlying common units of ASC Holdco, LLC, a joint venture which owns certain assets of the
former AmeriMark Interactive, LLC.

[28]

SCP Private Credit Income BDC LLC 10-Q