GLADSTONE CAPITAL CORP

We are an externally managed, closed-end investment company that operates as a Business Development Company (BDC) under the 1940 Act and as a Regulated Investment Company (RIC) for tax purposes. Our primary objective is to invest in debt and equity securities of established private businesses operating within the United States. Our common stock trades on the Nasdaq Global Select Market under the symbol "GLAD". Our 6.25% Series A Cumulative Redeemable Preferred Stock, our 3.75% notes due 2027, and our 5.875% Convertible Notes due 2030 are not listed on any exchange. All outstanding shares and per share amounts in this report have been retroactively adjusted for a 1-for-2 reverse stock split effected on April 4, 2024 (effective April 5, 2024 for trading purposes), unless otherwise noted. We are externally managed by an SEC-registered investment adviser, an affiliate, under an investment advisory and management agreement. We also have an administration agreement with Gladstone Administration, LLC, an affiliate of ours and the adviser, for which we pay separately for administrative services. Both the adviser and the administrator are privately-held companies indirectly owned by David Gladstone, our chairman and chief executive officer, who also serves on their respective boards and as an executive officer. The administrator employs our chief financial officer and treasurer, chief valuation officer, chief compliance officer, chief administrative officer, co-general counsels and co-secretaries, and their staffs.