Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 814-00754 SLR INVESTMENT CORP. (Exact name of registrant as specified in its charter) Maryland 26-1381340 (State of Incorporation ...

SLR Investment Corp (NASDAQ:SLRC) Q3 2021 Earnings Conference Call November 4, 2021 10:00 AM ET Company Participants Michael Gross - Chairman, President & Co-CEO Richard Peteka - Treasurer, Secretary & CFO Bruce Spohler - COO, Co-CEO & Interested Director Conference Call Participants Melissa Wedel - JPMorgan Chase & Co. Matthew Tjaden - Raymond James & Associates Operator Good day, and thank you for standing by. Welcome to the Q3 2021 SLR Investment Corp. Earnings Conference Call. [Operator Instructions]. I ...

Table of Contents 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 Quarter Ended September 30, 2021 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 814-00754 SLR INVESTMENT CORP. (Exact name of registrant as specified in its charter) (State of Incorporation) (I.R.S. Employer 500 Park Avenue New York, N.Y. 10022 ( ...

SLR Investment Corp. (NASDAQ:SLRC) Q2 2021 Earnings Conference Call August 4, 2021 10:00 AM ET Company Participants Michael Gross - Chairman and Co-CEO Bruce Spohler - Co-Chief Executive Officer Richard Peteka - Chief Financial Officer Conference Call Participants Bryce Rowe - Hovde Ryan Lynch - KBW Robert Dodd - Raymond James Mickey Schleien - Landenburg Finian O'Shea - Wells Fargo Securities Operator Good day and thank you for standing by. Welcome to the Q2 2021 SLR Investment Corp. Earnings Call. At this ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents SLR Investment Corp.'s unaudited consolidated financial statements, showing increased total assets and Net Asset Value per share [Consolidated Statements of Assets and Liabilities](index=3&type=section&id=Consolidated%20Statements%20of%20Assets%20and%20Liabilities) Total assets increased to **$1.98 billion** and Net Asset Value per share rose to **$20.29** as of June 30, 2021 Consolidated Assets and Liabilities (in thousands, except per share data) | Metric | June 30, 2021 (unaudited) | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | $1,983,075 | $1,935,958 | | **Total Liabilities** | $1,125,629 | $1,083,935 | | **Total Net Assets** | $857,446 | $852,023 | | **Net Asset Value Per Share** | $20.29 | $20.16 | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Net increase in net assets from operations was **$40.1 million**, a significant turnaround from a **$21.4 million** decrease in prior year Statement of Operations Highlights (in thousands) | Metric | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Total investment income | $71,459 | $61,529 | | Total expenses | $40,474 | $31,475 | | Net investment income | $30,985 | $30,054 | | Net realized and unrealized gain (loss) | $9,092 | $(51,477) | | **Net increase (decrease) in net assets** | **$40,077** | **$(21,423)** | | **Earnings (loss) per share** | **$0.95** | **$(0.51)** | [Consolidated Statements of Changes in Net Assets](index=5&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Net%20Assets) Net assets increased by **$5.4 million** due to operations, partially offset by distributions, contrasting with a prior year decrease Changes in Net Assets (in thousands) | Metric | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Net assets at beginning of period | $852,023 | $905,880 | | Net increase (decrease) from operations | $40,077 | $(21,423) | | Distributions to stockholders | $(34,654) | $(34,654) | | **Total increase (decrease) in net assets** | **$5,423** | **$(56,077)** | | **Net assets at end of period** | **$857,446** | **$849,803** | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was **$119.8 million**, leading to a **$79.0 million** net increase in cash and equivalents Cash Flow Summary (in thousands) | Metric | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $119,807 | $238,711 | | Net Cash Used in Financing Activities | $(40,857) | $(106,991) | | **Net Increase in Cash and Cash Equivalents** | **$78,950** | **$131,720** | | Cash and Cash Equivalents at End of Period | $467,726 | $568,074 | [Consolidated Schedule of Investments](index=7&type=section&id=Consolidated%20Schedule%20of%20Investments) Total investments reached **$1.50 billion**, diversified across senior secured loans, equipment financing, and equity interests Portfolio Composition by Investment Type (June 30, 2021) | Investment Type | Fair Value (in thousands) | | :--- | :--- | | Senior Secured Loans | $769,089 | | Equipment Financing | $280,489 | | Common Equity/Equity Interests/Warrants | $444,133 | | Preferred Equity | $5,249 | | **Total Investments** | **$1,498,960** | Top 5 Industry Classifications (June 30, 2021) | Industry Classification | Percentage of Total Investments | | :--- | :--- | | Multi-Sector Holdings | 28.1% | | Diversified Financial Services | 20.3% | | Pharmaceuticals | 9.7% | | Health Care Providers & Services | 9.2% | | Health Care Equipment & Supplies | 7.6% | [Notes to Consolidated Financial Statements](index=17&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail the company's BDC/RIC status, fee structure, debt facilities, controlled investments, and a subsequent dividend declaration - The company is a closed-end, externally managed, non-diversified management investment company regulated as a Business Development Company (BDC) and has elected to be treated as a Regulated Investment Company (RIC) for U.S. federal income tax purposes[53](index=53&type=chunk) Fees Paid to Investment Adviser (in thousands) | Fee Type | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Base Management Fees | $6,890 | $13,700 | | Performance-based Incentive Fees | $3,879 | $7,746 | Debt Obligations Summary (June 30, 2021) | Facility | Face Amount (in thousands) | Carrying Value (in thousands) | | :--- | :--- | :--- | | Credit Facility | $194,000 | $192,068 | | NEFPASS Facility | $30,000 | $29,490 | | 2022 Unsecured Notes | $150,000 | $150,000 | | 2023 Unsecured Notes | $75,000 | $74,406 | | 2024 Unsecured Notes | $125,000 | $124,008 | | 2026 Unsecured Notes | $75,000 | $74,329 | | **Total** | **$670,000** | **$665,248** | - As of June 30, 2021, the company had total unfunded commitments of **$130.8 million** to various portfolio companies, including a **$44.3 million** commitment to SLR Credit Solutions which the company controls and may cancel at its discretion[129](index=129&type=chunk)[231](index=231&type=chunk) - Subsequent to the quarter end, on August 3, 2021, the Board of Directors declared a quarterly distribution of **$0.41 per share**[140](index=140&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, portfolio activity, and capital resources, highlighting key financial metrics and liquidity [Portfolio and Investment Activity](index=36&type=section&id=Portfolio%20and%20Investment%20Activity) During Q2 2021, **$69.0 million** was invested, with **$149.7 million** in dispositions, focusing on senior secured loans and floating rate assets Investment Activity (in millions) | Activity | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | | :--- | :--- | :--- | | Investments Made | $69.0 | $61.2 | | Investments Sold/Repaid | $149.7 | $28.9 | - As of June 30, 2021, the investment portfolio was valued at fair value and comprised **23.0%** in cash flow senior secured loans, **25.5%** in asset-based senior secured loans (SLR Credit), **14.6%** in Kingsbridge Holdings, LLC (KBH), **18.7%** in equipment senior secured financings (SLR Equipment), and **18.2%** in life science senior secured loans[165](index=165&type=chunk) - At June 30, 2021, **71.6%** of the income-producing investment portfolio was floating rate, while **28.4%** was fixed rate[166](index=166&type=chunk) [Results of Operations](index=40&type=section&id=Results%20of%20Operations) Gross investment income rose to **$71.5 million**, leading to **$31.0 million** net investment income and a **$40.1 million** net increase in net assets Results of Operations Summary (in millions, except per share data) | Metric | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Gross Investment Income | $71.5 | $61.5 | | Total Expenses | $40.5 | $31.5 | | Net Investment Income | $31.0 | $30.1 | | Net Investment Income Per Share | $0.73 | $0.71 | | Net Change in Unrealized Gain (Loss) | $8.9 | $(26.7) | | Net Increase (Decrease) in Net Assets | $40.1 | $(21.4) | [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is supported by credit facilities and cash flows, with **$446.0 million** unused borrowing capacity and strong asset coverage - As of June 30, 2021, the company had a total of **$446.0 million** of unused borrowing capacity under its various credit facilities, subject to borrowing base limits[198](index=198&type=chunk) Contractual Obligations as of June 30, 2021 (in millions) | Obligation | Total | Less than 1 Year | 1-3 Years | 3-5 Years | More Than 5 Years | | :--- | :--- | :--- | :--- | :--- | :--- | | Revolving credit facilities | $149.0 | $— | $30.0 | $119.0 | $— | | Unsecured senior notes | $446.0 | $150.0 | $96.0 | $125.0 | $75.0 | | Term Loans | $75.0 | $— | $— | $75.0 | $— | - The company's asset coverage ratio was **228.0%** as of June 30, 2021, above the **150%** minimum required for a BDC[221](index=221&type=chunk)[225](index=225&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate risk, with a 1% LIBOR decrease increasing net investment income by **$0.01 per share** Interest Rate Sensitivity Analysis (per share per year) | Change in LIBOR | Impact on Net Investment Income Per Share | | :--- | :--- | | (1.00%) | $0.01 | | +1.00% | $(0.04) | - The company faces market risk from the global COVID-19 pandemic, which has increased volatility and may impact the value of its securities[244](index=244&type=chunk) [Item 4. Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective, with no material changes to internal control over financial reporting - Management concluded that as of June 30, 2021, the company's disclosure controls and procedures were effective[247](index=247&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the second quarter of 2021[248](index=248&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material pending legal proceedings - The company is not currently subject to any material pending legal proceedings[249](index=249&type=chunk) [Item 1A. Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) Key risks include the LIBOR transition and ESG scrutiny, with potential adverse impacts on financial results and reputation - The company faces risks from the planned cessation of LIBOR, which is used as a reference rate for its term loans. This could require renegotiating credit agreements and may adversely affect financial results[251](index=251&type=chunk)[253](index=253&type=chunk) - The company is subject to increasing public scrutiny related to environmental, social, and governance (ESG) activities, and failure to act responsibly could damage its brand and reputation[254](index=254&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=50&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the quarter ended June 30, 2021 - There were no unregistered sales of equity securities during the quarter ended June 30, 2021[255](index=255&type=chunk) [Item 3. Defaults Upon Senior Securities](index=50&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the reporting period - None[256](index=256&type=chunk) [Item 4. Mine Safety Disclosures](index=50&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[257](index=257&type=chunk) [Item 5. Other Information](index=50&type=section&id=Item%205.%20Other%20Information) There is no other information to report for the period - None[258](index=258&type=chunk) [Item 6. Exhibits](index=51&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed, including corporate governance documents, debt indentures, and officer certifications - The exhibits filed with this report include the Articles of Amendment, Bylaws, Form of Common Stock Certificate, Indentures, and CEO/CFO certifications pursuant to the Securities Exchange Act of 1934 and the Sarbanes-Oxley Act of 2002[260](index=260&type=chunk)

SLR Senior Investment Corp. (NASDAQ:SLRC) Q1 2021 Earnings Conference Call May 6, 2021 11:00 AM ET Company Participants Michael Gross – Chairman and Co-Chief Executive Officer Bruce Spohler – Co-Chief Executive Officer Richard Peteka – Chief Financial Officer Conference Call Participants Matt Tjaden – Raymond James Operator Good day and thank you for standing-by. Welcome to the Q1 2021 SLR Investment Corporation Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over t ...

Table of Contents 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 Quarter Ended March 31, 2021 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 814-00754 SLR INVESTMENT CORP. (Exact name of registrant as specified in its charter) Maryland 26-1381340 (State of Incorporation) (I.R.S. Employer 500 Park Avenue New Yo ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 814-00754 SOLAR CAPITAL LTD. (Exact name of registrant as specified in its charter) (State of Incorporation) (I.R.S. Employer 500 ...

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