Start Time: 09:00 January 1, 0000 9:22 AM ET Goldman Sachs BDC (NYSE:GSBD) Q2 2023 Earnings Conference Call August 04, 2023, 09:00 AM ET Company Participants Alex Chi - Co-CEO and Co-President David Miller - Co-CEO and Co-President Tucker Greene - COO David Pessah - CFO, Treasurer and Principal Financial Officer Austin Neri - IR Conference Call Participants Derek Hewett - Bank of America Merrill Lynch Maxwell Fritscher - Truist Securities Sean-Paul Adams - Raymond James Austin Neri Good morning. This is Aus ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 814-00998 Goldman Sachs BDC, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 46-2176593 (State or Other Jurisdiction of Incorporation or Organization) 200 We ...

Quarter Ended March 31, 2023 NII: $0.46 Net Realized & Unrealized Gain: $(0.21) $14.61 $0.45 $0.01 $(0.45) $(0.01) $(0.20) $0.03$14.44 $14.44 Q4' 22 Ending Book NAV Q1' 23 Adjusted Net Investment Income Q1' 23 Purchase Discount Amortization Q1' 23 Distribution Q1' 23 Realized/Unrealized Purchase Discount Q1' 23 Adjusted Net Change Realized & Unrealized Secondary Offering Proceeds (net underwriting and offering costs) Q1' 23 Ending Book NAV March 31, 2023 NAV is based on March 31, 2023 shares outstanding as ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 814-00998 Goldman Sachs BDC, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 46-2176593 (State or Other Jurisdiction of Incorporation or Organization) 200 W ...

Goldman Sachs BDC (NYSE:GSBD) Q4 2022 Earnings Conference Call February 24, 2023 9:00 AM ET Company Participants Austin Neri - Investor Relations Alex Chi - Co-Chief Executive Officer David Miller - Co-Chief Executive Officer David Pessah - Chief Financial Officer Gabriella Skirnick - Chief Operating Officer Austin Neri Good morning. This is Austin Neri, a member of the Investor Relations team for Goldman Sachs BDC, Inc. and I would like to welcome everyone to the Goldman Sachs BDC, Inc. Fourth Quarter and ...

Investment Overview - The company has originated over $6.91 billion in aggregate principal amount of debt and equity investments from its formation in 2012 through December 31, 2022[365]. - As of December 31, 2022, the total investments amounted to $3,691.04 million, an increase from $3,506.22 million as of December 31, 2021[383]. - The company primarily invests in U.S. middle-market companies, defined as those with annual EBITDA between $5 million and $200 million[368]. - The portfolio includes $3,174.53 million in first lien/senior secured debt, $120.25 million in first lien/last-out unitranche, and $255.35 million in second lien/senior secured debt as of December 31, 2022[383]. - The number of portfolio companies increased to 134 as of December 31, 2022, compared to 121 as of December 31, 2021[386]. - The total investments as of December 31, 2022, were valued at $3,506.22 million, an increase from $3,478.44 million as of December 31, 2021[394]. - The company has a diversified investment portfolio across various sectors, including software, healthcare, and construction[490]. Financial Performance - The company generates revenues primarily through interest income from investments, with additional income from various fees and capital gains[375]. - Total investment income increased to $357.45 million in 2022 from $346.98 million in 2021, driven by higher interest income[402]. - Net investment income after taxes decreased to $228.57 million in 2022 from $237.38 million in 2021, reflecting a decline in net realized and unrealized gains[401]. - The net increase in net assets from operations was $55,003,000 in 2022, compared to $192,427,000 in 2021, reflecting a decline in operational performance[464]. - The company reported a net realized gain of $19,005,000 in 2022, contrasting with a net loss of $(40,485,000) in 2021[464]. - The company incurred total expenses of $136,152 thousand in 2022, a slight decrease from $139,900 thousand in 2021, reflecting a reduction of 2.00%[459]. Investment Quality - Performing investments accounted for 97.9% of total investments at an amortized cost of $3,613.76 million as of December 31, 2022, compared to 97.5% at $3,418.82 million in the previous year[395]. - Non-accrual investments decreased to $77.28 million, representing 2.1% of total investments as of December 31, 2022, down from $88.97 million or 2.5% in the prior year[395]. - The investment performance grading system showed that 97.1% of investments were rated Grade 2 as of December 31, 2022, compared to 94.9% in the previous year[394]. - The weighted average yield on debt and income-producing investments at amortized cost rose to 11.7% as of December 31, 2022, from 8.4% in the previous year[386]. - The median EBITDA of portfolio companies increased to $49.62 million as of December 31, 2022, compared to $38.97 million as of December 31, 2021[386]. Debt and Leverage - The company’s leverage strategy includes a senior secured revolving credit agreement and notes due in 2025 and 2026, allowing for increased yield[381]. - The weighted average leverage (net debt/EBITDA) improved to 6.1x as of December 31, 2022, down from 6.4x as of December 31, 2021[386]. - The company has a total of $1,695.00 million committed borrowing amount under the Revolving Credit Facility, with an uncommitted accordion feature allowing an increase to $2,250.00 million[422]. - Interest and other debt expenses rose to $79.46 million in 2022 from $58.99 million in 2021, attributed to increased debt borrowing and rising interest rates[405]. Tax and Regulatory Compliance - The company expects to qualify annually for tax treatment as a regulated investment company (RIC) under the Internal Revenue Code[365]. - The company must distribute at least 90% of its investment company taxable income annually to maintain its RIC status, which includes net ordinary income and excess short-term capital gains[556]. - The company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination[553]. - The company is subject to potential examination by various taxing authorities, and its tax positions are subject to ongoing interpretation of laws and regulations[554]. Market Conditions and Risks - The company expects that a 300 basis point increase in interest rates could result in a net income increase of $53.03 million, while a 300 basis point decrease could lead to a net income decrease of $52.80 million[437]. - The financial underperformance of National Spine and Pain Centers, LLC and Zep Inc. contributed significantly to the net change in unrealized appreciation (depreciation) for 2022[409]. - The company anticipates entering into hedging transactions to manage interest rate risk, subject to regulatory compliance[429]. - The company operates as a "limited derivatives user," which may restrict its ability to use derivatives and enter into certain financial contracts[430]. Shareholder Returns and Distributions - The company declared a quarterly distribution of $0.45 per share on February 22, 2023, payable on April 27, 2023, to holders of record as of March 31, 2023[433]. - Distributions to stockholders from distributable earnings amounted to $184,315 thousand in 2022, compared to $198,332 thousand in 2021, a decrease of 7.06%[462]. - The company has a voluntary dividend reinvestment plan (DRIP) that allows stockholders to automatically reinvest cash distributions into additional shares unless they opt out[559]. Operational Efficiency - The company anticipates general and administrative expenses to remain stable or decline as a percentage of total assets during periods of asset growth[380]. - Adjusted net investment income after taxes increased to $215.10 million in 2022 from $194.93 million in 2021, reflecting improved operational efficiency[401]. - The company’s management and incentive fees compensate the Investment Adviser for investment-related activities, impacting overall expenses[377].

Goldman Sachs BDC (NYSE:GSBD) Q3 2022 Results Conference Call November 4, 2022 9:00 AM ET Company Participants Austin Neri - Investor Relations Alex Chi - Co-Chief Executive Officer David Miller - Co-Chief Executive Officer Gabriella Skirnick - Chief Operating Officer David Pessah - Chief Financial Officer Conference Call Participants Finian O'Shea - Wells Fargo Austin Neri Good morning. This is Austin Neri, a member of the Investor Relations team for Goldman Sachs BDC, Inc., and I would like to welcome eve ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 814-00998 Goldman Sachs BDC, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 46-2176593 (State or Other Jurisdiction of Incorporation or Organization) 2 ...

Financial Data and Key Metrics Changes - Net investment income per share was $0.49, with adjusted net investment income at $0.45 per share for the quarter [8] - Net asset value per share decreased to $15.53, a decline of approximately 1.7% from the previous quarter [9] - GAAP net investment income for Q2 was $49.6 million, compared to $50.2 million in the prior quarter [30] - The weighted average yield of the investment portfolio increased to 8.6% from 7.9% in the prior quarter [22] Business Line Data and Key Metrics Changes - The company originated $366 million in new investment commitments, with $197 million in new investments to six new portfolio companies and $169 million in follow-on investments to 12 existing companies [19] - Total investments in the portfolio were $3.6 billion, with 97.4% in senior secured loans [21] - Sales and repayment activity totaled $106 million, driven by full repayment from two portfolio companies [20] Market Data and Key Metrics Changes - The weighted average net debt-to-EBITDA ratio decreased to 6.0 times from 6.2 times in the prior quarter [23] - The weighted average interest coverage of the companies in the investment portfolio was 2.1 times, down from 2.5 times in the prior quarter [23] - As of quarter end, 42% of the company's total principal amount of debt outstanding was unsecured [27] Company Strategy and Development Direction - The company focuses on investing in non-cyclical businesses with strong pricing power to navigate economic slowdowns [11] - The integration of the BDC platform into the broader direct lending business has enhanced access to potential transactions [12] - The company aims to achieve at least $0.45 of quarterly adjusted net investment income per share without additional waivers in the second half of the year [17] Management's Comments on Operating Environment and Future Outlook - The management highlighted the challenges posed by market volatility and inflationary pressures but expressed confidence in the portfolio's resilience [10] - The company anticipates further volatility in the environment ahead but remains optimistic about investment opportunities [36] Other Important Information - The company announced the resignation of the CFO, effective August 10, and welcomed a new CFO [35] - An at-the-market equity offering program was launched with an aggregate offering price of up to $200 million [31] Q&A Session Summary Question: Can you touch on the cross-platform co-investing? - The company did not have any cross-allocated deals this quarter but had several cross-originated deals that were beneficial to the BDC platform [39] Question: What are the parameters looked at outside of risk-adjusted yield? - The focus is on middle-market companies with maintenance covenants and defensive industries that have protected cash flows [40] Question: Are there emerging challenges in the software sector? - The company has been selective in underwriting recurring revenue loans and has not seen issues in its portfolio despite market challenges [42] Question: What are the plans for the at-the-market offering program? - The company expects to raise between $10 million to $20 million in any given open trading window through the program [44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 814-00998 Goldman Sachs BDC, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 46-2176593 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S ...