As of December 31, 2024, BlackRock TCP Capital Corp.’s investment portfolio consisted of debt and equity positions in 154 portfolio companies with a total
fair value of approximately $1.8 billion. Debt positions represented approximately 91% of the portfolio fair value, substantially all of which were senior secured
debt. Equity positions represented approximately 9% of the investment portfolio.
As of December 31, 2024, the weighted average annual effective yield of our debt portfolio was approximately 12.4%. (1) As of December 31, 2024, approximately 95%
of our debt portfolio at fair value had floating interest rates.
(1)Weighted average annual effective yield includes amortization of deferred debt origination and end of term fees and accretion of original issue discount, but
excludes market discount, any prepayment and make-whole fee income, and any debt investments that are distressed or on non-accrual status. Weighted average
effective yield on the total portfolio (including debt investments that are distressed or on non-accrual status and equity investments) was 11.1% as of December 31, 2024.
(2)Industry classification system generally categorizes portfolio companies based on the primary end market served, rather than the product or service directed
to those end markets. Data as of December 31, 2024. “Other” category includes industries less than 3% of total investments. Past performance does not guarantee
future returns.