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February 3 , 2021 GLADSTONE CAPITAL Gladstone Capital Corporation Reports Financial Results for its First Quarter Ended December 31 , 2020 MCLEAN , VA / ACCESSWIRE / February 3 , 2021 / Gladstone Capital Corporation ( NASDAQ : GLAD ) ( the " Company " ) today announced earnings for its first fiscal quarter ended December 31 , 2020. Please read the Company's Quarterly Report on Form 10 - Q filed today with the U.S. Securities and Exchange Commission ( the " SEC " ) , which is available on the SEC's website at www.sec.gov , and the investors section of the Company's website at www.GladstoneCapital.com . Summary Information ( dollars in thousands , except per share data ) ( unaudited ) December 31 , For the Quarter Ended : 2020 September 30 , 2020 Change % Change Total investment income $ 12,882 $ Total expenses , net of credits ( 6,602 ) 12,579 ( 6,463 ) $ 303 2.4 % ( 139 ) 2.2 Net investment income 6,280 6,116 164 2.7 Net investment income per common share 0.195 0.195 Cash distribution per common share 0.195 0.195 Net realized gain ( loss ) ( 2,152 ) 135 ( 2,287 ) NM Net unrealized appreciation ( depreciation ) 8,175 3,996 4,179 104.6 Net increase ( decrease ) in net assets resulting from operations 12,303 10,247 2,056 20.1 Weighted average yield on interest - bearing investments Total invested 10.8 % 10.9 % ( 0.1 ) % ( 0.9 ) $ 29,098 $ 21,902 $ 7,196 32.9 Total repayments and net proceeds 34,142 22,635 11,507 50.8 December 31 , As of : 2020 Total investments , at fair value $ Fair value , as a percent of cost Net asset value per common share $ 452,359 92.7 % 7.61 $ $ September 30 , 2020 450,400 $ 91.1 % 7.40 $ Change % Change 1,959 1.6 % 0.21 0.4 % 1.8 2.8 NM = Not Meaningful First Fiscal Quarter 2021 Highlights : • Portfolio Activity : Invested $ 29.0 million in two new proprietary portfolio companies . Received $ 34.1 million in repayments and net proceeds , including the exit of one proprietary investment at par and two previously restructured syndicated investments at our prior quarter end fair value . • Portfolio Performance : Portfolio companies continued to perform well with non- accruals unchanged at 1.5 % of the portfolio at fair value and collected $ 2.2 million of accrued PIK interest . • Net Unrealized Appreciation : Market based recovery in loan valuations supported broad based appreciation of $ 8.2 million .