Saratoga unit expands Valley National credit facility to $110M from $85M; accordion raised to $135M

SARATOGA INVESTMENT CORP.

First Amendment to Credit and Security Agreement dated October 8, 2026 lifts borrowings at Saratoga Investment Funding II LLC from $85.0M to $110.0M under the Valley Credit Facility.
Accordion expanded: SIF II may request commitment increases up to $135.0M (from $100.0M) in the first two years after closing, subject to conditions and a customary fee.
Advance Rate on Unitranche Loans capped at 70%; healthcare concentration limit raised to 35% from 25% of Aggregate ECA Value; top-three obligor limit to 35% from 30%.
"Key Person" definition amended to replace Henri Steenkamp with Christine Ramdihal; Valley National Bank is administrative agent, U.S. Bank Trust collateral agent, Bank OZK documentation agent.
Company reps that no Default, Event of Default or Ratings Deficiency exists; original credit agreement dated November 6, 2025; existing security interests remain in force.

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