FIDUS INVESTMENT Business Summary

Fidus Investment Corporation (FDUS) is a business development company (BDC) that generates revenue primarily through interest income from a diversified portfolio of debt investments and capital appreciation from equity-related securities. The firm specializes in providing customized financing solutions—including first lien, unitranche, and second lien debt—to U.S. lower middle-market companies typically characterized by annual revenues between $10 million and $150 million. Its investment strategy focuses on high-quality, cash-generating businesses across defensive sectors such as healthcare, business services, and niche manufacturing. Fidus competes directly with other prominent BDCs including Ares Capital (ARCC), Main Street Capital (MAIN), and Gladstone Capital (GLAD). Within this landscape, Fidus distinguishes itself as a disciplined, small-cap specialist that leverages its Small Business Investment Company (SBIC) licenses to access low-cost, long-term financing, which enhances its ability to deliver consistent risk-adjusted returns and high-yield dividends. The leadership team is anchored by Chairman and CEO Edward H. Ross, who co-founded the predecessor firm, Fidus Capital, LLC, in 2005 and brings over 20 years of experience in middle-market finance from his tenure at Allied Capital and Wachovia Securities. He is supported by President Thomas C. Lauer, a veteran with more than 25 years of investment expertise from GE Capital and Fidus Partners, and Chief Financial Officer Shelby E. Sherard, who oversees financial operations and compliance following a career at Prologis and Grubb & Ellis. The company’s governance is provided by a board of directors that includes independent members such as Raymond L. Anstiss Jr. and Kelly McNamara Corley. Publicly traded on the NASDAQ, Fidus maintains a significant institutional investor base and is recognized for its conservative underwriting and robust spillover income, supporting a long-standing track record of both base and supplemental dividend distributions.