Kayne Anderson BDC, Inc.

Quarterly Investment Income Rises Total investment income reached $61.4M for the quarter, showing an increase from $57.8M reported in the prior year period.

Senior Debt Investments Value First-lien senior secured debt investments totaled $2.22B fair value as of September 30, 2025, forming the core asset base.

Stock Repurchase Activity Continues Total stock repurchased reached $23.07M during the nine months ended September 30, 2025, utilizing the 10b5-1 plan.

Quarterly Net Income Declines Net investment income fell to $30.0M for the quarter, down from $37.1M last year, driven by higher interest expenses.

Rising Interest Expense Costs Quarterly interest expense increased significantly to $20.2M compared to $16.1M previously, reflecting higher borrowing costs.

Net Asset Value Per Share Net Asset Value per share decreased to $16.34 from $16.70 year-over-year, impacted by unrealized losses and lower NII.

New Senior Notes Issued Completed $200M private placement of senior unsecured notes in October 2025 to refinance existing debt and fund corporate purposes.

Interest Rate Hedging Active Entered interest rate swaps to align liability rates with floating rate loans, fixing rates on $160M of new debt.

Maintain Senior Secured Focus Portfolio remains heavily weighted towards first lien senior secured loans, comprising 93.7% of assets as of September 30, 2025.