Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended September 30, 2025 and Declaration of Distributions on Common Stock for the Months Ending January 31, February 28, and March 31, 2026

GREENWICH, Conn., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQG) (NasdaqGS: OXSQH) (the “Company,” “we,” “us” or “our”) announced today its financial results and related information for the quarter ended September 30, 2025. On October 30, 2025, our Board of Directors declared the following distributions on our common stock: Month EndingRecord DatePayment DateAmount Per ShareJanuary 31, 2026January 16, 2026January 30, 2026$0.035February 28, 2026February 13, 2026February 27, 2026$0.035March 31, 2026March 17, 2026March 31, 2026$0.035Net asset value (“NAV”) per share as of September 30, 2025 stood at $1.95, compared with a NAV per share on June 30, 2025 of $2.06. Net investment income (“NII”) was approximately $5.6 million, or $0.07 per share, for the quarter ended September 30, 2025, compared with approximately $5.5 million, or $0.08 per share, for the quarter ended June 30, 2025. Total investment income for the quarter ended September 30, 2025 amounted to approximately $10.2 million, compared with approximately $9.5 million for the quarter ended June 30, 2025.For the quarter ended September 30, 2025 we recorded investment income from our portfolio as follows:$5.2 million from our debt investments;$4.3 million from our CLO equity investments; and$0.8 million from other income. Our total expenses for the quarter ended September 30, 2025 were approximately $4.7 million, compared with total expenses of approximately $4.0 million for the quarter ended June 30, 2025. As of September 30, 2025, the following metrics applied (note that none of these metrics represented a total return to shareholders): The weighted average yield of our debt investments was 14.6% at current cost, compared with 14.5% as of June 30, 2025; The weighted average effective yield of our CLO equity investments at current cost was 9.7%, compared with 8.8% as of June 30, 2025; The weighted average cash distribution yield of our cash income producing senior secured note investments at current cost was 9.5%, compared with 9.0% as of June 30, 2025; and The weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 14.3%, compared with 13.8% as of June 30, 2025. For the quarter ended September 30, 2025, we recorded a net decrease in net assets resulting from operations of approximately $2.1 million, consisting of:NII of approximately $5.6 million;Net realized losses of approximately $153,000; andNet unrealized depreciation of approximately $7.5 million. During the third quarter of 2025, our investment activity consisted of purchases of approximately $58.1 million and repayments of approximately $31.3 million. No sales were made during the quarter. Our weighted average credit rating was 2.2 based on total fair value and 2.3 based on total principal amount as of September 30, 2025, which was approximately the same as of June 30, 2025. As of September 30, 2025, our preferred equity investments in one of our portfolio companies were on non-accrual status, which had an aggregate fair value of approximately $4.9 million. For the quarter ended September 30, 2025, we issued a total of approximately 5.4 million shares of common stock pursuant to an “at-the-market” offering. After deducting the sales agent’s commissions and offering expenses, this resulted in net proceeds of approximately $11.8 million. As of September 30, 2025, we had approximately 81.7 million shares of common stock outstanding.On October 30, 2025, our Board of Directors authorized a 12-month share repurchase program (the “Share Repurchase Program”). Under the Share Repurchase Program, we may repurchase, during the 12-month period commencing on October 30, 2025, up to $25.0 million in the aggregate of our outstanding common stock in the open market. The timing, manner, price and amount of any share repurchases will be determined by us, in our discretion, based upon the evaluation of economic and market conditions, our stock price, applicable legal, contractual and regulatory requirements and other factors. The Share Repurchase Program is expected to be in effect until October 30, 2026, unless extended or until the aggregate repurchase amount has been expended. The Share Repurchase Program does not require us to repurchase any specific number of shares, and we cannot assure stockholders that any shares will be repurchased under the Share Repurchase Program. The Share Repurchase Program may be suspended, extended, modified or discontinued at any time. We will hold a conference call to discuss third quarter results today, Tuesday, November 4th, 2025 at 9:00 AM ET. The toll-free dial-in number is 1-800-549-8228. There will be a recording available for 30 days. If you are interested in hearing the recording, please dial 1-888-660-6264. The replay pass-code number is 67571#. A presentation containing further detail regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordsquarecapital.com. OXFORD SQUARE CAPITAL CORP. STATEMENTS OF ASSETS AND LIABILITIES September 30 , 2025 December 31 , 2024 (Unaudited) ASSETS Non-affiliated/non-control investments (cost: $383,122,574 and $358,356,496, respectively) $260,470,585 $256,238,759 Affiliated investments (cost: $- and $16,836,822, respectively) — 4,614,100 Cash equivalents 50,264,000 34,433,088 Cash 524,037 493,380 Interest and distributions receivable 2,228,680 2,724,049 Other assets 1,252,505 1,227,598 Total assets $314,739,807 $299,730,974 LIABILITIES Notes payable – 5.50% Unsecured Notes, net of deferred issuance costs of $1,093,253 and $1,381,619, respectively 79,406,747 79,118,381 Notes payable – 7.75% Unsecured Notes, net of deferred issuance costs of $2,765,830 and $0, respectively 71,984,170 — Notes payable – 6.25% Unsecured Notes, net of deferred issuance costs of $0 and $309,812, respectively — 44,480,938 Accrued expenses 1,652,328 1,018,261 Accrued interest payable 1,606,886 1,204,487 Base Fee and Net Investment Income Incentive Fee payable to affiliate 1,053,566 1,215,964 Due to transfer agent 80,964 — Securities purchased, not settled — 12,027,463 Total liabilities 155,784,661 139,065,494 NET ASSETS Common stock, $0.01 par value, 100,000,000 shares authorized; 81,669,408 and 69,758,938 shares issued and outstanding, respectively 816,694 697,590 Capital in excess of par value 515,339,576 487,943,476 Total distributable earnings/(accumulated losses) (357,201,124) (327,975,586)Total net assets 158,955,146 160,665,480 Total liabilities and net assets $314,739,807 $299,730,974 Net asset value per common share $1.95 $2.30 OXFORD SQUARE CAPITAL CORP. STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended September 30, 2025 Three Months Ended September 30, 2024 Nine Months Ended September 30, 2025 Nine Months Ended September 30, 2024INVESTMENT INCOME From non-affiliated/non-control investments: Interest income – debt investments $5,162,078 $6,121,942 $15,782,283 $19,564,808 Income from securitization vehicles and investments 4,298,003 3,526,850 12,109,128 11,345,140 Other income 779,852 692,132 2,031,753 1,553,856 Total investment income from non-affiliated/non-control investments 10,239,933 10,340,924 29,923,164 32,463,804 Total investment income 10,239,933 10,340,924 29,923,164 32,463,804 EXPENSES Interest expense 2,559,400 1,962,676 6,447,732 5,884,642 Base Fee 1,053,566 1,083,351 3,148,663 3,094,519 Professional fees 351,582 359,275 1,119,285 1,162,059 Compensation expense 254,096 209,473 721,969 590,853 General and administrative 357,769 395,259 1,073,155 1,189,403 Excise tax 104,778 143,735 250,179 95,711 Total expenses before incentive fees 4,681,191 4,153,769 12,760,983 12,017,187 Net Investment Income Incentive Fees — — — — Capital gains incentive fees — — — — Total incentive fees — — — — Total expenses 4,681,191 4,153,769 12,760,983 12,017,187 Net investment income 5,558,742 6,187,155 17,162,181 20,446,617 NET CHANGE IN UNREALIZED APPRECIATION/(DEPRECIATION) AND REALIZED GAINS/(LOSSES) ON INVESTMENT TRANSACTIONS Net change in unrealized (depreciation)/appreciation on investments: Non-Affiliate/non-control investments (7,497,769) 3,543,362 (8,311,530) 34,041,844 Affiliated investments — 2,299,931 — (432,496)Total net change in unrealized (depreciation)/appreciation on investments. (7,497,769) 5,843,293 (8,311,530) 33,609,348 Net realized losses: Non-affiliated/non-control investments (32,797) (12,904,989) (14,512,854) (51,439,891)Extinguishment of debt. (120,339) — (166,118) — Total net realized losses. (153,136) (12,904,989) (14,678,972) (51,439,891)Net (decrease)/increase in net assets resulting from operations $(2,092,163) $(874,541) $(5,828,321) $2,616,074 Net increase in net assets resulting from net investment income per common share (Basic and Diluted) $0.07 $0.10 $0.23 $0.33 Net increase/(decrease) in net assets resulting from operations per common share (Basic and Diluted) $(0.03) $(0.01) $(0.08) $0.04 Weighted average shares of common stock outstanding (Basic and Diluted) 79,362,161 64,796,212 73,960,101 61,707,951 Distributions per share $0.105 $0.105 $0.210 $0.210 FINANCIAL HIGHLIGHTS (Unaudited) Financial highlights for the three and nine months ended September 30, 2025 and 2024, respectively, are as follows: Three Months Ended September 30, 2025 Three Months Ended September 30, 2024 Nine Months Ended September 30, 2025 Nine Months Ended September 30, 2024Per Share Data Net asset value at beginning of period $2.06 $2.43 $2.30 $2.55 Net investment income(1) 0.07 0.10 0.23 0.33 Net realized and unrealized (losses)/gains(2) (0.08) (0.11) (0.30) (0.29)Net (decrease)/increase in net asset value from operations (0.01) (0.01) (0.07) 0.04 Distributions per share from net investment income (0.11) (0.11) (0.31) (0.32)Tax return of capital distributions(3) — — — — Total distributions (0.11) (0.11) (0.31) (0.32)Effect of shares issued 0.01 0.04 0.03 0.08 Net asset value at end of period $1.95 $2.35 $1.95 $2.35 Per share market value at beginning of period $2.23 $2.94 $2.44 $2.86 Per share market value at end of period $1.59 $2.83 $1.59 $2.83 Total return based on market value(4) (24.74)% (0.25)% (24.97)% 9.71%Total return based on net asset value(5) (0.24)% 1.03 (1.52)% 4.51%Shares outstanding at end of period 81,669,408 67,869,056 81,669,408 67,869,056 Ratios/Supplemental Data(8) Net assets at end of period (000’s) $158,955 $159,471 $158,955 $159,471 Average net assets (000’s) $159,032 $154,529 $154,339 $149,873 Ratio of expenses to average net assets(6) 11.77% 10.71% 11.04% 10.75%Ratio of net investment income to average net assets(6) 13.98% 16.06% 14.81% 18.13%Portfolio turnover rate(7) 11.31% 10.95% 25.98% 25.25% ____________ (1)Represents per share net investment income for the period, based upon weighted average shares outstanding.(2)Net realized and unrealized gains/(losses) include rounding adjustments to reconcile change in net asset value per share.(3)Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that fiscal year, a portion of those distributions may be deemed a tax return of capital to the Company’s stockholders. The ultimate tax character of the Company’s earnings cannot be determined until tax returns are prepared after the end of the fiscal year. The amounts and sources of distributions reported are only estimates (based on an average of the reported tax character historically) and are not being provided for U.S. tax reporting purposes.(4)Total return based on market value equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming distribution reinvestment prices obtained under the Company’s distribution reinvestment plan. Total return is not annualized.(5)Total return based on net asset value equals the increase or decrease of ending net asset value over beginning net asset value, plus distributions, divided by the beginning net asset value. Total return is not annualized.(6)Annualized.(7)Portfolio turnover rate is calculated using the lesser of the year-to-date investment sales and debt repayments or year-to-date investment purchases over the average of the total investments at fair value.(8)The following table provides supplemental ratios (annualized) measured for the three and nine months ended September 30, 2025 and 2024: Three Months Ended September 30, 2025 Three Months Ended September 30, 2024 Nine Months Ended September 30, 2025 Nine Months Ended September 30, 2024Ratio of expenses to average net assets: Net investment income incentive fees 11.77% 10.71% 11.04% 10.75%Capital gains incentive fees —% —% —% —%Ratio of expenses, excluding interest expense to average net assets 5.34% 5.63% 5.47% 5.52%  About Oxford Square Capital Corp. Oxford Square Capital Corp. is a publicly-traded business development company principally investing in syndicated bank loans and, to a lesser extent, debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle. Forward-Looking Statements This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law. Contact: Bruce Rubin 203-983-5280 Oxford Square Capital Corp.