Financial Data and Key Metrics Changes - The company generated adjusted net investment income of $0.35 per share, consistent with the first quarter dividend of $0.35 per share, marking the 20th consecutive quarter of dividend coverage by adjusted net investment income [7] - The investment portfolio had a fair value of $596.9 million, an increase of $43.3 million or 8% from the prior quarter [8] - Net asset value (NAV) increased to $259.1 million from $258.8 million, with NAV per share rising from $12.66 to $12.67 [23] Business Line Data and Key Metrics Changes - The company funded $70.1 million in new investments during the quarter, offset by $20.1 million in sales, repayments, and prepayment activity [8] - The investment manager platform had a record first quarter with over $1 billion in senior secured debt funded across 26 transactions [10] - The SLF experienced portfolio growth to $191.2 million, a nearly 10% increase from the previous quarter [15] Market Data and Key Metrics Changes - The company reported that 93.4% of its portfolio consists of secured loans, with approximately 90% being first lien secured loans [14] - The weighted average yield in the SLF portfolio remained stable at 7.6% compared to the previous quarter [15] Company Strategy and Development Direction - The company aims to leverage its proprietary deal origination capabilities and broad industry coverage to drive portfolio growth [9] - The recent amendment to the revolving credit facility is expected to provide additional borrowing capacity and regulatory relief, enhancing growth opportunities [18] - The company is positioned to take advantage of both organic and inorganic growth opportunities in the future [19] Management's Comments on Operating Environment and Future Outlook - Management noted that the competitive environment has intensified, with increased leverage and lower pricing in the market, but emphasized the importance of maintaining disciplined underwriting standards [42][51] - The company expects to continue its investment momentum for the remainder of the year, supported by a robust pipeline of committed and anticipated deals [35] - Management expressed confidence in the stability of the portfolio and the ability to generate consistent cash flow for shareholders [80] Other Important Information - The company completed a registered direct offering of $40 million in additional principal amount of its 5.75% notes due in 2023, bringing the total outstanding to $109 million [12] - The company has approximately $109 million of capacity under its revolving credit facility as of March 31 [30] Q&A Session Summary Question: Can you expand on the competitive environment? - Management acknowledged increased competition and capital raising in the market, leading to higher leverage and lower pricing, but emphasized their disciplined approach to underwriting [42][51] Question: Can you size your pipeline today? - Management indicated a significant pipeline with a mix of sponsor and non-sponsor transactions, currently leaning towards 80% sponsor due to favorable market conditions [60] Question: What is your feel on the quality of the portfolio today? - Management expressed comfort with the stability of the portfolio and noted no changes in non-accrual status during the period [80][86] Question: What is the plan for the new bank credit facility? - Management stated that the $400 million facility will be used as the primary funding vehicle for growth, with flexibility to consider additional financing options as needed [111][112]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 814-00866 MONROE CAPITAL CORPORATION (Exact Name of Registrant as Specified in its Charter) Maryland 27-4895840 (State or Other Jurisdiction of Incorporation or Orga ...

Financial Data and Key Metrics Changes - For Q4 2018, adjusted net investment income was $7.8 million or $0.38 per share, exceeding the quarterly dividend of $0.35 per share, marking the 19th consecutive quarter of dividend coverage by adjusted net investment income [5][22][33] - The investment portfolio's fair value increased to $553.6 million, a $71.3 million or 15% increase from the prior quarter [7][8] - Net asset value (NAV) decreased from $264.8 million to $258.8 million, with NAV per share dropping from $12.95 to $12.66 due to unrealized mark-to-market valuation adjustments [18][22] Business Line Data and Key Metrics Changes - The SLF (Senior Loan Fund) experienced a fair value increase to $172.3 million, a 28% increase from the previous quarter, with a weighted average yield rising to 7.6% [11][28] - Total investment income for the quarter was $14.8 million, up from $13.8 million in the prior quarter, driven by increased interest income and fee income [24] Market Data and Key Metrics Changes - The company reported $115.5 million in investment fundings during the quarter, offset by $38.3 million in sales repayments and prepayment activity [8][16] - The company has continued to see new deal momentum into early 2019, with net fundings of an additional $37.6 million through March 4 [8] Company Strategy and Development Direction - The company aims to maintain a strong investment momentum, expecting continued growth in both its core portfolio and within the SLF [32][96] - The recent amendment to the revolving credit facility increased borrowing capacity and flexibility, allowing for continued portfolio growth [9][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current market conditions, noting low default rates and strong performance among borrowers, driven by tax cuts and increased cash flow [92][93] - The company anticipates a stable U.S. economy in 2019, with pockets of strength in software and healthcare, while remaining cautious about retail and commodity sectors [100][102] Other Important Information - The company has a significant amount of fixed-rate liabilities, which positions it well for future interest rate increases [13][14] - The SLF's leverage facility was reported at $101.1 million at a rate of approximately 5% [12] Q&A Session Summary Question: What is the leverage limit on the SLF? - Management indicated that there isn't an express leverage limitation, but reasonable limitations exist based on credit facilities, typically capping around 70-72% advance rate on first lien middle market loans [37] Question: When might the incentive fee be back on track? - Management noted that the ability to earn incentive fees depends on NAV performance and could potentially be seen in the second quarter if conditions stabilize [39][41] Question: What is the current concentration of the high-tech industry in the portfolio? - Management clarified that the high-tech industry represents about 16.9% of the portfolio, not the previously mentioned 31% [45][46] Question: What is the outlook for watchlist credits? - Management mentioned that Blue Stem and ECA are on the watchlist, with expectations for recovery in some cases, while others remain under scrutiny [55][56] Question: What are the plans for share buybacks in 2019? - Management stated that there have been no discussions regarding share buybacks as the stock is trading close to book value [82] Question: What is the expected ROE from the SLF over the next three to five years? - Management targeted a low double-digit ROE of around 10% to 11% from the SLF [89] Question: How does the company view the competitive environment and economic conditions? - Management expressed that the market is favorable for lenders, with high purchase price multiples and ample capital available, while also noting challenges in certain sectors like retail and commodities [92][100]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 814-00866 MONROE CAPITAL CORPORATION (Exact Name of Registrant as Specified in its Charter) Maryland 27-4895840 (State or Other Jurisdiction of Incorporation or Organizat ...