[1]	# Unless otherwise indicated, all securities are valued using significant unobservable inputs, which are categorized as Level 3 assets under the definition of ASC 820 fair value hierarchy (See "Note 4. Fair Value Measurements").
[2]	(+) Controlled Investments are defined by the Investment Company Act of 1940 Act, as amended (the "1940 Act"), as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation.
[3]	(++) Negative cost, if applicable, results from unamortized fees on unfunded commitments, which are capitalized to the investment cost. The negative fair value, if applicable, results from the fair valuation of the unfunded commitment.
[4]	+ All of the issuers of the investments held by the Company are domiciled in the United States. Certain investments also have international operations.
[5]	# Unless otherwise indicated, all securities are valued using significant unobservable inputs, which are categorized as Level 3 assets under the definition of ASC 820 fair value hierarchy (See "Note 4. Fair Value Measurements").
[6]	+ All of the issuers of the investments held by the Company are domiciled in the United States. Certain investments also have international operations.
[7]	(1) The following industry is solely comprised of the Subordinated Certificates of the SDLP. The portfolio companies in SDLP represent a diverse set of industry classifications, which are similar to those in which the Company invests directly. See “Senior Direct Lending Program” below.
[8]	(1) The following industry is solely comprised of the Subordinated Certificates of the SDLP. The portfolio companies in SDLP represent a diverse set of industry classifications, which are similar to those in which the Company invests directly. See “Senior Direct Lending Program” below.
[9]	(2) Represents a percentage that is less than 0.1%.
[10]	(2) Represents a percentage that is less than 0.1%.

Varagon Capital Corp 10-Q