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OFS Credit Company Declares Monthly All-Cash Common Stock Distributions for Each of the Three Months in the Quarter Ending January 31, 2024

Amended Dividend Reinvestment Plan permits DRIP shares to be Issued at 95% of Market Price

OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced that, on November 28, 2023, its board of directors (the “Board”) declared monthly all-cash distributions for common stockholders for each of the three months in the quarter ending January 31, 2024.

The following schedule applies to the distributions for common stockholders of record on the close of business of each specific record date:

Month

Record Date

Payment Date

Cash Distribution Amount

November 2023

December 22, 2023

December 29, 2023

$0.10

December 2023

December 22, 2023

December 29, 2023

$0.10

January 2024

January 24, 2024

January 31, 2024

$0.10

The monthly distribution rate of $0.10 per common share equates to an approximate 19.4% annualized distribution rate based on closing price of the Company’s common stock of $6.18 on the Nasdaq Capital Market on October 31, 2023. Our Board intends to declare future distributions in cash, payable monthly.

“We believe our previous cash and stock distributions enabled us to strengthen our balance sheet by preserving capital,” said Bilal Rashid, Chief Executive Officer. “We believe the current strength of our balance sheet allows us to convert to an all-cash distribution.”

Dividend Reinvestment Plan – DRIP Shares Issued at 95% of Market Price

On June 1, 2023, our Board approved an amended and restated dividend reinvestment plan (the “Amended DRIP”). For stockholders participating in the Amended DRIP, the number of shares to be issued to a stockholder in connection with any distribution will be determined by dividing the total dollar amount of the distribution payable to such stockholder by an amount equal to ninety five percent (95%) of the market price per share of common stock at the close of regular trading on the Nasdaq Capital Market on the valuation date fixed by the Board for such distribution.

About OFS Credit Company, Inc.

OFS Credit is a non-diversified, externally managed closed-end management investment company. The Company’s investment objective is to generate current income, with a secondary objective to generate capital appreciation primarily through investment in CLO equity and debt securities. The Company’s investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 19401, as amended, and headquartered in Chicago with additional offices in New York and Los Angeles.

Forward-Looking Statements

Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to: the Board’s intention to declare future distributions in cash, when there can be no guarantee that will be the case or, if declared, that such distributions will be sustained; management’s belief that the current strength of the Company’s balance sheet allows the Company to convert to an all-cash distribution; and other factors may constitute forward-looking statements. Forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “could,” “could increase the likelihood,” “estimate,” “expect,” “intend,” “is planned,” “may,” “should,” “will,” “will enable,” “would be expected,” “look forward,” “may provide,” “would” or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in documents that may be filed by OFS Credit from time to time with the Securities and Exchange Commission, rising interest rates and elevated inflation rates, the ongoing war between Russia and Ukraine, the current conflict in Israel, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S. government services and significant market volatility on our business, our portfolio companies, our industry and the global economy. As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. OFS Credit is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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