Prospect Capital Corporation (NASDAQ: PSEC) Middle Market Finance and Private Equity Overview July 2013. Corporate Presentation

1. PROSPECT CAPITAL
Nasdaq: PSEC
Middle Market Finance and Private Equity
Overview
July 2013

2. Certain statements made by us in this presentation that are not historical
facts or that relate to future plans, events or performances are forward-
looking statements within the meaning of the federal securities laws. Our
actual results or actions may differ materially from those expressed in any
forward-looking statements made by us. Forward-looking statements involve
a number of risks of uncertainties including, but not limited to, the risks
described under headings such as “Risk Factors” in our SEC filings. All
forward-looking statements are qualified by those risk factors. All statements
made by us in this presentation are further qualified in all respects by the
information disclosed in our SEC filings.
Forward-Looking Statement
1

3. Overview
2Source: Company filings, investor presentations and management.
(1) 1Q’13, 2Q’13, and 3Q’13 Annualized
Prospect Capital (“PSEC”) primarily provides non-control debt financing to corporate management teams or financial
sponsors.
Prospect also makes select control acquisitions by investing in multiple levels of the capital structure.
 Top two of externally-managed Business Development Companies (“BDCs”)
 No corporate taxation as long as 90%+ distributions are made
 Focus on diversified middle market origination
− 120 investment counterparties as of 3/31/2013
− Significant diversification across geographies and industries (largest industry exposure represents 17% of portfolio)
− Seven origination strategies focused on yield plus upside with prudent risk
 Senior secured investment focus
− 75% of portfolio investments are first-lien and second-lien loans, with a majority first-lien as of 3/31/2013
 Positive exposure to rising interest rates
− Increase in interest rates by 5.00% would increase net investment income by $0.27 per share or $68.9 million in FYE
2014
− 84% of assets are floating rate and 100% of liabilities fixed rate as of 3/31/2013
 Prospect corporate rating BBB by S&P and BBB+ by Kroll
− Credit facility rating of Aa3 by Moody’s
Headquarters: New York, NY Book Equity: $2,556 million (as of 3/31/2013)
Founded: 2004 (Manager Founded in 1988) Employees: 80 (5 locations in New York, Chicago,
Houston, San Francisco, Westport)
Total Assets: $4,047 million (as of 3/31/2013) Capital Under Mgmt: $4.8 billion (including undrawn credit)
Prospect Capital Overview

4. 134
328
498 547
748
1,463
2,094
3,708
–
$50
$100
$150
$200
$250
$300
$350
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 3/31/13
$108
$300
$430
$533
$711
$1,114
$1,512
$2,556
$2,659
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 3/31/13 Pro-
Forma
3Source: Company filings, investor presentations and management.
(1) 1Q’13, 2Q’13, and 3Q’13 Annualized
Total Equity
(FY as of 6/30, $ in millions) (FY as of 6/30, $ in millions)
Portfolio Size and Net Investment Income
(1)Portfolio Size
Net Investment Income
Prospect Capital Overview Continued

5. 4
Continued focus on secured lending, with approximately 75% of the balance
sheet as of 3/31/2013 comprised of secured loans
Continued Emphasis on
Secured Lending
Portfolio has 120 investment counterparties, representing significant portfolio
diversity and risk mitigation
Portfolio Diversification
Portfolio is diversified across 31 industries with deep centers of industry expertise
within the Prospect team
Industry Diversification
None of the $5.5+ billion of loans originated in nearly 6 years has gone on non-
accrual status
Non-accruals are currently 0.2% following the sale of assets from Wolf Energy
Only ~2% of the opportunities reviewed per annum survive the due diligence
process to result in closing
Credit Quality / Discipline
Attractive double-digit dividend yield, paid monthly
Cumulative net investment income has exceeded dividends paid from inception
through 3/31/2013 by $66 million
Significant Distributions
Seven yield-oriented origination strategies: (1) sponsor finance, (2) direct non-
sponsor lending, (3) one-stop operating buyouts, (4) one-stop finance buyouts, (5)
structured credit, (6) real estate, and (7) syndicated debt investing
Flexibility to vary our origination mix profile in accordance with relative
attractiveness, providing discipline from a multi-line model
Origination Mix
Diversification
 Net asset value has increased from $10.24 at 9/30/2010 to $10.71 at 3/31/2013Rising Net Asset Value
Prospect Highlights

6. 5
$552.5 million credit facility with 5-year original tenor and 17 lenders
Five unsecured convertible bonds totaling $852.5 with maturities of 5+ years
Issued $100 million of unsecured retail notes with maturity of 10 years
Issued approximately $370 million of Prospect Capital InterNotes® (unsecured
retail notes) with maturities of 5 - 30 years through 6/27/2013
Issued $250 million of unsecured institutional notes with maturity of 10 years in
March 2013
Approximately $1.0 billion equity raised in six offerings in the last 12 months
Diversified Matched Book
Funding
As our scale and average deal size each have grown, so has the size of our
average borrower (weighted average portfolio company EBITDA $40+ million)
Larger borrowers better equipped to withstand a downturn
Still invest in a diversified fashion across $5 - $100 million EBITDA middle market
companies
Larger Borrower Size
Senior management has never sold a single share of stock and continues to be
significantly invested with more than $35 million of cash equity in the business
(including $1.5 million more recently in 2013)
Continued Management
Skin in the Game
Over $3.3 billion of unencumbered assets as of 3/31/2013, significantly reducing
risk for shareholders and bondholders during market dislocations
Meaningful Unencumbered
Assets
17 banks in its revolving credit facility, plus thousands of bondholdersLender Diversification
3,000+ opportunities originated per annum
Repeat business from management company 25+ year relationships
Call center for additional proprietary deal sourcing
Large investment team allows PSEC to both cover significant origination ground
and process multiple parallel transactions
Superior Transaction Flow
Prospect Highlights Continued

7. 4,513
2,627
1,739
1,262
1,039
963
858
758 734 696 694
529 505 500
447
390 372 371
293 258 256 236 212 195 181 172 146 132 129 115 92 86 86
ARCC
PSEC
AINV
FSC
SLRC
MAIN
HTGC
TCAP
PNNT
GBDC
BKCC
NMFC
TICC
TCRD
TCPC
MCC
KCAP
MCGC
MVC
GARS
FDUS
WHF
SUNS
GAIN
SCM
GLAD
PFLT
HRZN
NGPC
OFS
HCAP
MRCC
SAR
Prospect is One of the Largest BDCs
Source: Bloomberg
Market Capitalization, as of 6/28/2013
2nd Largest Active BDC by Market Capitalization
Company Ticker Company Ticker
Apollo Investment Corp AINV MVC Capital MVC
Ares Capital ARCC New Mountain Finance Corp NMFC
BlackRock Kelso Capital BKCC NGPCapital Resources NGPC
Fidus Investment Corporation FDUS OFS Capital OFS
Fifth Street Capital FSC PennantPark Investment Corp PNNT
Garrison Capital Inc GARS PennantPark Floating Rate Capital Ltd PFLT
Gladstone Investment Corp GAIN Prospect Capital PSEC
Golub Capital GBDC Saratoga Investment Corp SAR
Gladstone Capital GLAD Solar Capital SLRC
Harvest Capital Credit HCAP Solar Senior Capital SUNS
Hercules Technology Grow th Capital HTGC Stellus Capital Investment Corp. SCM
Horizon Tech HRZN TCPCapital TCPC
Kohlberg Capital Corp KCAP THL Credit TCRD
Main Street Capital Corp MAIN TICC Capital TICC
MCG Capital Corporation MCG Triangle Capital Corporation TCAP
Medley Capital Corp MCC WhiteHorse Finance, Inc. WHF
Monroe Capital Corp MRCC
6

8. $105
$298
$475 $588
$689
$1,076
$1,802
$3,530
$4,047
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
12/ 05 12/ 06 12/ 07 12/ 08 12/ 09 12/ 10 12/ 11 12/ 12 3/ 13
TotalAssets($M)
PSEC Growing Scale
Prospect Has Grown Significantly
8 19 32 32 55 58 75 106 120
Portfolio
Investments
7

9. 8Source: Company filings.
Portfolio Growth Outpaced By Employee Growth
Historically Average Less Than 2 Portfolio Companies Per Employee
55 58
75
106
120
32
37
47
70
76
1.72x
1.57x
1.60x
1.51x
1.58x
1.20x
1.60x
2.00x
0
20
40
60
80
100
120
140
12/31/2009 12/31/2010 12/31/2011 12/31/2012 3/31/2013
# of Portfolio Companies Total Employees # of Portfolio Companies Per Employee
Employee Growth vs. Portfolio Growth

10. $2.4 $8.6
$23.1
$45.1
$59.2
$66.5
$94.2
$186.7
$310.4
0
50
100
150
200
250
300
350
2005 2006 2007 2008 2009 2010 2011 2012 2013
NetInvestmentIncome($MperFiscalYr)
PSEC Growing Income
Net Investment Income has Grown Each Year Over the Past Seven Years
(FY as of 6/30)
(1) 1Q’13, 2Q’13 , and 3Q’13 Annualized
(1)
9

11. PSEC Growing Distributions to
Shareholders
PSEC has Announced 65 Consecutive Cash Distributions to Shareholders and a
8.2% Dividend Increase in December 2012
10.0000
10.2000
10.4000
10.6000
10.8000
11.0000
11.2000
Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13
MonthlyDividend(Cents/Share)
10

12. PSEC Distributions to Shareholders
Cumulative Distributions to Shareholders Approximately $12.000 a Share
Totaling Approximately $900 Million
($ in millions)
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
Dec-04
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
PSECCumulativeDistributionstoShareholders
11

13. PSEC has Outperformed All Relevant Indices Over the Past 8 Years
PSEC vs. Indices
Source: Bloomberg
122.9%
73.7% 72.9%
60.3%
18.0%
-2.9%
-13.2%
-25.5%
-40%
-20%
0%
20%
40%
60%
80%
100%
120%
140%
PSEC Dow Nasdaq S&P Nasdaq Fin NYSE Fin Amex Fin KBW Banks
TotalReturn(1/03/2005-6/30/2013)
12

14. PSEC has Outperformed Peers Over the Past 8 Years
PSEC vs. BDCs
Source: Bloomberg
122.9%
60.9%
41.9%
-16.3%
-24.7% -25.9%
-32.5%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
120%
140%
PSEC TICC AINV NGPC GLAD ACAS MCGC
TotalReturn(1/03/2005-6/30/2013)
13

15. Private Equity Control
(“Sponsor”)
10-15% IRRs
 Significant junior cash/equity
below Prospect
 Better management / larger
businesses
 Industry/size diversity
 Repeat business
Company Control
(“Direct”)
12-17% IRRs
 Senior secured debt
 Higher yields
 Free warrants/equity
 Lower leverage
 Few lender competitors
Prospect Control
(“Buyout”)
20-30%+ IRRs
 One stop advantage (PSEC
provides term debt)
 Equity upside/dividends
 Management control
 Operating buyouts
 Tax efficient financial buyouts
(high yields)
 Strategic buyouts (Patriot)
Target Return
Key
Advantages
Control Type
14
Structured Credit
15-25% IRRs
 Default rate well below market
average
 Diversified credit exposure
 Larger and more liquid credits
 Attractively priced AAA
funding
 No mark-to-market exposure
 Protective control strategy
Real Estate
15-20% IRRs
 Multi-family residential focus
 Fully-developed properties
 Steady cash flow
 Long-term funding from GSEs
 Recession resilient
 Diversified tenants
Syndicated Debt
Investing
10-15% IRRs
 Larger upper middle-market
businesses
 More liquid market
 Increase market activity during
market dislocation
 Decrease market activity
during bull markets
Target Return
Key
Advantages
Control Type
Diversified Origination Strategy

16. Source: Company filings.
• 80 person organization helps drive originations through superior scale and market coverage
• 3,000+ opportunities originated per annum, with over 80% via established relationships
• Multi-channel origination results in consistently high volume of investment opportunities regardless of market
conditions, market timing, and competitive dynamics
• Private equity sponsors
 ~200 Tier 1 and ~600 Tier
2 relationships
• Other intermediaries
 ~4,000 total
 Business brokers,
boutique corporate
finance and financial
advisory firms, investment
and commercial banks
(large and small), law
firms, accounting firms
• Small-to-mid cap
companies with
identified financing
needs
• Dedicated call
center with 6
professionals
• Proprietary deal
flow
• From 100+ past and
present portfolio
companies
• Add-on
investments, new
investments,
assistance with due
diligence and post-
closing value add
• 35,000+ contacts
built over two
decades
• Receive all
transaction
announcements,
resulting in both
in-bound
opportunities and
top-of-mind
awareness
• From scale and
visibility of
Prospect
• $4.8 billion of
capital under
management
(including
undrawn credit
facility)
Systematic Calling Effort Cold-Calling Effort Management Team
Relationships
Contact Database In-Bound
Opportunities
Large Team and Relationships Drive Broad Opportunity Set
Superior Deal Flow
15

17.  Infrastructure and business model barriers
 Recurring, visible, and sustainable profitability
 Experienced management with “skin in the game”
Solid Businesses
 Lending focus with equity upside
 Conservative multiples/ratios, with yield protection
 Flexibility to address both primary and secondary markets
 Flexibility to address sponsor finance, direct lending and control buyout
opportunities
Value-Oriented Discipline
 Conservative multiples/ratios with emphasis on recurring cash flow
 Recurring demand and recurring revenues
 Solid cash flow and fixed charge coverages
 Strong asset coverage
Solid Financial Performance
 Significant sponsor investment
 Leverage sponsor experience and diligence
 Relationship building and repeat business
Significant Financial Sponsor
Involvement
 Financial and other covenants for protections, re-pricings, and seat at the
table
 Asset liens and security in the capital structure
 Cash sweeps, LIBOR floors and prepayment protection / premium
Protective Agreements
Disciplined Credit Strategy
None of the $5.5+ Billion of Investments Originated In The Past Nearly 6 Years Have Gone On
Non-Accrual Status
16

18. Disciplined Execution
Approximately 1% - 2% of initially screened investments advance to closing
ExitMonitorCloseStructureScreenOriginate
 Trade shows /
pubs
 Email marketing
(~50K database)
 Broker network
 Banks / co-
investors
 Efficient
templates
 Prioritization
knowledge
 Selectivity
 Scale team, calls
3 times a week
 Negotiated deals
 Standard term
sheet
 Control not required
 Syndication network
 Loyal opposition /
subcomittees
 3rd party diligence
(quality of earnings)
 Legal expertise
 Background checks
 Environmental
diligence
 Board observation
 Compliance
certification
 Information
covenants
 Managerial
assistance
2,000 – 3,000 / year 150 – 300 per year 30 – 50 per year 120 investments
 Permanent
capital
 Recurring yield
 Trade sale
network
 IPO network
Experience Incentives
Reputation Robust Processes
Discipline Consensus
Responsiveness Sector Experience
17

19. Rigorous / Independent Valuation
Process
 Every investment is marked quarterly and has been marked since inception
at fair market value by a 3rd party
 Lincoln International completes a review with 100% positive assurance (i.e.,
not merely a “negative assurance” process)
Independent 3rd Party
Valuation
 Preliminary valuation discussions are documented and discussed with
Senior Prospect Management
Senior Portfolio Manager
 Prospect’s Audit Committee reviews the preliminary valuations
 Prospect Capital Management and the third party advisor respond to and
supplement any information required by Prospect’s Audit Committee
Audit Committee
 Prospect’s board of directors determines the fair market value of each
investment in the portfolio based on the third party valuations and
recommendations from Prospect’s Audit Committee
 To date, the Board’s final valuations have never been outside the range
provided by the third party valuation firm
Prospect’s Board of Directors
18

20. 5.8%
4.1%
3.5%
1.9%
1.4%
0.2%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
June 30, 2009 June 30, 2010 June 30, 2011 June 30, 2012 March 31, 2013 Pro-Forma
Historical Non-Accruals (% of Total Assets)
(% of Total Assets)
None of the $5.5+ billion of loans originated in almost 6 years have gone on non-accrual status
Source: Public Filings
(1) 3/31/2013non-accruals pro-forma for the May 2013 sale of assets from Wolf Energy Holdings
(1)
Portfolio Quality Trends
19

21. Growing and Diversified Portfolio
 $3.7 billion investment / loan portfolio as of 3/31/13
 120 portfolio companies as of 3/31/13
 Geographically diversified
 Senior secured investment focus with 75% of portfolio are 1st lien and 2nd lien loans
 IRR target of 12% - 20%, including up front points, coupon, and warrants / equity
 Portfolio asset yield of 13.9% as of 3/31/13
 Wide range of industries including
− Business Services − Electronics − Insurance − Retail
− Chemicals − Energy − Machinery − Software
− Conglomerate Services − Financial Services − Manufacturing − Specialty Minerals
− Consumer Services − Food Products − Media − Textiles and Leather
− Ecological − Healthcare − Production Services − Transportation
20

22. Current/Prior Investment Portfolio
21

23. Select Recent Investments
More Than $2.25 Billion in Transaction Volume in 2012
Prospect Select Recent Investments
22

24. Industry Diversification
PSEC Continues to Diversify Portfolio by Industry through
Originations and Patriot Acquisition
Source: Company filings, investor presentations.
Portfolio by Industry at Fair Value (3/31/2013)
17%
11%
10%
7%
7%7%
5%
5%
4%
27% -
Other (all
< 4.0%)
Diversified Financial Services Consumer Finance
Durable Consumer Products Healthcare
Consumer Services Commercial Services
Software & Computer Services Business Services
Manufacturing Other Industries
23

25. 50.9%
63.9%
23.6%
29.7%
0.8%
5.1%
6.4%
15.7%
3.8% –
3/31/13 - Total Portfolio 3/31/13 - Total Debt Portfolio
First Lien Second Lien
CLO Debt SubordinatedUnsecuredDebt
CLO Residual Interest Equity
Secured Lending
Source: Company filings, management.
Based on fair value as of 3/31/2013
(1) Excludes CLO Debt
Secured 75% 94%
Commitment to Investing in High Quality Debt
(1)
24

26. Deep Lender and Sponsor Relationships
25

27. Issuance Coupon Amount Outstanding Maturity
Senior Unsecured Convertible Notes
• December 2010 - $11.85
• February 2011 Convert - $12.73
• April 2012 Convert - $11.65
• August 2012 Convert - $12.14
• December 2012 Convert - $12.54
6.250%
5.500%
5.375%
5.750%
5.875%
$150,000,000
$172,500,000
$130,000,000
$200,000,000
$200,000,000
$150,000,000
$167,500,000
$130,000,000
$200,000,000
$200,000,000
12/15/2015
8/15/2016
10/15/2017
3/5/2018
1/15/2019
Senior Unsecured Retail Notes
• Baby Bond – April 2012
• Prospect Capital InterNotes®
6.950%
4.00% - 7.00%(1)
$100,000,000
$370,292,000
$100,000,000
$370,292,000
11/15/2022
June 2017 –
July 2043
Senior Unsecured Institutional Term
Debt – March 2013
5.875% $250,000,000 $250,000,000 3/15/2023
Senior Secured Credit Facility – 17
Lenders
1ML + 2.75% $552,500,000 $0 3/27/2017
Total $1,561,277,000
As of 6/27/2013
(1) Includes $1,489,000 of floating rate notes.
• Access to diversified funding sources across multiple investor bases
• Matched-book funding with original tenors ranging from 5 years to 30 years
• Low cost funding enhances shareholder return
• Emphasis on unsecured term debt with no financial covenants or cross defaults with revolver
26
Diversified Funding Sources

28. Experienced and Broad Team
Notes: Includes Prospect Capital Management, LLC and its affiliate Prospect Administration, LLC
Name Role Title
Years
Experience
Industry Experience Education
Senior Executives
John F. Barry III Senior Leadership Chairman & CEO 34 Merrill Lynch, Rothschild, Davis Polk JD Harvard, AB Princeton, Phillips Exeter
M. Grier Eliasek Senior Leadership President & COO 17 Bain & Company MBA Harvard, BS University of Virginia
Brian Oswald Senior Leadership CFO & CCO 30 GSC, Capital Trust, KPMG CPA, BA Moravian College
Investment Team
David Belzer Investments & Portfolio Mgmt Managing Director 16 GE Capital, Fieldstone, Blaylock, Wheelabrator MBA Washington, BA University of Indiana
Richard Carratu Investments & Portfolio Mgmt Managing Director 29 GE Capital, JLL Inc., PricewaterhouseCoopers MBA Columbia, BS Long Island University, CPA
Geoffrey Chang Investments & Portfolio Mgmt Managing Director 17 PennantPark, Audax, CIBC, Argosy BA Harvard University
Bart deBie Investments & Portfolio Mgmt Managing Director 15 JP Morgan Chase, Cenatar JD GWU, BA University of Wisconsin
Theodore V. Fowler Investments & Portfolio Mgmt Managing Director 40 Laidlaw & Co., PMB Securities, Prudential, CSFB MBA Columbia, BA Amherst College
Chris Johnson Investments & Portfolio Mgmt Managing Director 28 Berenson & Co., Deutsche Bank, Merrill Lynch MBA UVA, BA Washington and Lee
Robert Klein Investments & Portfolio Mgmt Managing Director 25 American Capital, First Boston, Morgan Stanley JD Stanford Law School, BA Yale
John Kneisley Investments & Portfolio Mgmt Managing Director 21 Silver Point Capital, Goldman Sachs BA, DePauw University
David Moszer Investments & Portfolio Mgmt Managing Director 19 GSO Capital, FriedbergMilstein, GarMark MBA Columbia, BA University of Virginia
Jason Wilson Investments & Portfolio Mgmt Managing Director 12 UBS, Lehman, Exxon MBA Chicago Booth, BS Univ. of Notre Dame
Mark Hull Investments & Portfolio Mgmt Principal 13 Ballard, Girard, Merrill, Robertson, Southwest MBA NYU, BBA University of Texas
Sachin Sarnobat Investments & Portfolio Mgmt Principal 10 Citi, Merrill, Fair Isaac MBA Columbia, MS University of Tennessee
Seb Cervinka Investments & Portfolio Mgmt Vice President 12 Credit Suisse, CAE, CIBC, GE MBA Harvard, BA McGill University
Jim Clippard Investments & Portfolio Mgmt Vice President 7 Circle Peak, Bear Stearns, Goldman Sachs MBA Wharton, BA Cornell University
Benjamin Harris Investments & Portfolio Mgmt Vice President 11 Bank of America Merrill Lynch, Arcapita MBA Chicago Booth, BSc Univ. College London
John Kim Investments & Portfolio Mgmt Vice President 13 Garrison Investment Group, NYL Capital MBA Columbia, AB Harvard College
Robert Melman Investments & Portfolio Mgmt Vice President 11 Patriarch Partners, ComVest Group, Ernst and Young MBA NYU, BBA University of Michigan
Seth Tutlis Investments & Portfolio Mgmt Vice President 13 Patriot Capital, Sidoti, AllianceBernstein MBA Yale, BS Sacred Heart University
Anand Kalola Investments & Portfolio Mgmt Senior Associate 5 Chanin Capital, CIBC BS Univ. of Pennsylvania
Joe Labita Investments & Portfolio Mgmt Senior Associate 9 TD Bank, Garrison, JP Morgan BA Lafayette College
Sameer Pandhi Investments & Portfolio Mgmt Senior Associate 6 Oaktree Capital, Merrill Lynch MBA Wharton, BA Rutgers University
Ruwan Gunatilake Investments &Portfolio Mgmt Senior Associate 6 Capital Partners, LLC, LAMCO, LLC MBA Harvard Business School
Joshua Berglund Investments & Portfolio Mgmt Associate 5 Prospect Capital, Vandelay Ventures BA Chapman University
Jay Lee Investments & Portfolio Mgmt Associate 2 Prospect Capital, Topos, Hynix BSE Princeton University, MS Univ. of Illinois
Nick Martino Investments & Portfolio Mgmt Associate 7 Gleacher, Citadel, Credit Suisse, Deloitte BA Bucknell University
Nick McClelland Investments & Portfolio Mgmt Associate 8 Stone Goff Partners, JP Morgan, Duff & Phelps MBA NYU, BA Roanoke College
Colin McGinnis Investments & Portfolio Mgmt Associate 5 Credit Suisse, Barclays Capital MBA Wharton, BS Univ. of Pennsylvania
Lin Ouyang Investments & Portfolio Mgmt Associate 3 Oppenheimer Boston University
Joseph Roth Investments & Portfolio Mgmt Associate 5 Solaia Capital Advisors, Citadel, Rothschild BBA University of Michigan
Ashish Shetty Investments & Portfolio Mgmt Associate 7 DiMaio Ahmad Capital, M.D. Resurgence, CIBC BA Columbia University
Edward Shuman Investments & Portfolio Mgmt Associate 2 Prospect Capital PHD Yale, BS University of Virginia
Sergio Zepeda Investments & Portfolio Mgmt Associate 3 Houlihan Capital, Long Reach Capital, Navy SEAL MBA Chicago Booth, BS DePaul
Steven Stone Portfolio / Risk Mgmt Chief Credit Officer 26 Greystone, Sovereign, Wells Fargo, E&Y MBA NYU, BBA George Washington University
Edward Higgins Portfolio Mgmt Senior Advisor 36 M. Safra & Co., Merrill Lynch MBA NYU, Manhattan College
Frank Saracino Portfolio Mgmt Managing Director 24 Macquarie Group, Cantor Fitzgerald, Deutsche Bank BS Syracuse
27

29. Experienced and Broad Team
(continued)
Notes: Includes Prospect Capital Management, LLC and its affiliate Prospect Administration, LLC
Name Role Title
Years
Experience
Industry Experience Education
Business Development and Investor Relations
Nishil Mehta Capital Markets Vice President 10 CIT Asset Management, Wachovia BA Emory University
Aula Ali Business Devel. / Inv. Rel. Associate 2 Prospect Capital BA Brunel University
Claudette Oledimmah Business Devel. / Inv. Rel. Associate 4 Prospect Capital, The Co Operative Group BA Hons Kings College - London
Daniel Aston Business Development Associate 1 Prospect Capital BSc University of Reading
Michael Conroy Business Development Associate 2 Cassidy Turley, State of New Jersey BA Kings College
Sophie Gamwell Business Development Associate 1 Prospect Capital, Murdoch Children Research Institute BA Nursing/ Pg ICU nursing
Ajay Gill Business Development Associate 4 Credit Suisse, Copal Partners BA Skidmore College
Accounting
Kristin L. Van Dask Accounting and Finance Controller 10 GSC, Ernst & Young CPA, BS Towson University
Alexandra Krasinets Accounting and Finance Assistant Controller 6 PricewaterhouseCoopers, Keyspan Energy CPA, MBA/BBA Pace
Roberto Espinosa Accounting and Finance Vice President 23 BlackRock Kelso, Ernst & Young, The Siegfried Group BS Fordham University
Glenn Fancie Accounting and Finance Vice President 22 Coopers & Lybrand, DataStream International MBA Pace University
Glenn Anderson Accounting and Finance Vice President 14 Ernst & Young, Deloitte Tax, LLP BA Providence College/ MBA Fordham
Megan Bloom Accounting and Finance Senior Associate 2 PricewaterhouseCoopers MS Yeshiva University/BBA University of Miami
Jessica Cheng Accounting and Finance Senior Associate 6 KPMG BS / BA Binghamton
Pauline Livaditis Accounting and Finance Senior Associate 6 JP Morgan, Ernst & Young MBA/BS St. John’s
Ann Filkins Accounting and Finance Associate 1 PricewaterhouseCoopers MS / BS Syracuse University
Legal
Joseph Ferraro Counselor General Counsel 9 Sullivan & Cromwell, Boies Schiller JD Chicago, AB Princeton University
Eric Colandrea Counselor Deputy General Counsel 12 Highbridge Capital Management, Skadden, Arps JD New York University, BS Boston College
Jonathan Li Counselor Deputy General Counsel 6 Gibson, Dunn & Crutcher JD Georgetown University, AB Harvard College
Justin Wertman Counselor Deputy General Counsel 14 Morgan, Lewis, & Bockius JD Fordham University, BA Queens College of New York
Adam Burton Counselor Vice President 8 White & Case JD Georgetown, BA University of Georgia
Karl Huth Counselor Vice President 8 Cravath, Swain & Moore JD Columbia University, BA Harvard College
Ken Levine Counselor Vice President 13 Carter Ledyard & Milburn, NY County DA JD New York University, BA Columbia University
Ian Shainbrown Counselor Vice President 10 Greenberg Traurig, Stroock & Stroock& Lavan JD Georgetown University, BA University of Michigan
Bernard Marren Counselor Director of Tax 35 Cantor Fitzgerald, Omega Engineering, Bank America JD Univ. of Baltimore, BBA College of William and Mary
Peter Cowgill Paralegal Paralegal 3 Gibson, Dunn & Crutcher BS Finance and Management, New York University
Sophie Brown Paralegal Paralegal 2 Forsters LLP, Purcell Taylor Lawyers Pty Ltd Bachelor of Laws (Hon) James Cook University
Administration
Daria Becker Head of Administration Managing Director 30 Lexington, Citigroup, Family Office BA Wellesley College, MIT
Carol Bursell Recruiting / HR Associate 4 Prospect Capital, Kingston Recruitment BA University of Warwick, ICBP Mountbatten Institute
Melissa Edington Brown Administration Executive Assistant 3 Prospect Capital, BBR Partners BS Coastal Carolina University
Emma Colls Administration Office Manager 1 Prospect Capital MA University of Edinburgh
Sophie Knowles Administration Office Manager 1 Prospect Capital MA University of St. Andrews
Kemi Oduniyi Administration Office Manager 3 Prospect Capital, HSBC BSc Brunel University
Jemima Stevens Administration Office Manager 1 Prospect Capital BA University of Birmingham
28

30. 29
Continued focus on secured lending, with approximately 75% of the balance
sheet as of 3/31/2013 comprised of secured loans
Continued Emphasis on
Secured Lending
Portfolio has 120 investment counterparties, representing significant portfolio
diversity and risk mitigation
Portfolio Diversification
Portfolio is diversified across 31 industries with deep centers of industry expertise
within the Prospect team
Industry Diversification
None of the $5.5+ billion of loans originated in nearly 6 years has gone on non-
accrual status
Non-accruals are currently 0.2% following the sale of assets from Wolf Energy
Only ~2% of the opportunities reviewed per annum survive the due diligence
process to result in closing
Credit Quality / Discipline
Attractive double-digit dividend yield, paid monthly
Cumulative net investment income has exceeded dividends paid from inception
through 3/31/2013 by $66 million
Significant Distributions
Seven yield-oriented origination strategies: (1) sponsor finance, (2) direct non-
sponsor lending, (3) one-stop operating buyouts, (4) one-stop finance buyouts, (5)
structured credit, (6) real estate, and (7) syndicated debt investing
Flexibility to vary our origination mix profile in accordance with relative
attractiveness, providing discipline from a multi-line model
Origination Mix
Diversification
 Net asset value has increased from $10.24 at 9/30/2010 to $10.71 at 3/31/2013Rising Net Asset Value
Prospect Highlights

31. 30
$552.5 million credit facility with 5-year original tenor and 17 lenders
Five unsecured convertible bonds totaling $852.5 with maturities of 5+ years
Issued $100 million of unsecured retail notes with maturity of 10 years
Issued approximately $370 million of Prospect Capital InterNotes® (unsecured
retail notes) with maturities of 5 - 30 years through 6/27/2013
Issued $250 million of unsecured institutional notes with maturity of 10 years in
March 2013
Approximately $1.0 billion equity raised in six offerings in the last 12 months
Diversified Matched Book
Funding
As our scale and average deal size each have grown, so has the size of our
average borrower (weighted average portfolio company EBITDA $40+ million)
Larger borrowers better equipped to withstand a downturn
Still invest in a diversified fashion across $5 - $100 million EBITDA middle market
companies
Larger Borrower Size
Senior management has never sold a single share of stock and continues to be
significantly invested with more than $35 million of cash equity in the business
(including $1.5 million more recently in 2013)
Continued Management
Skin in the Game
Over $3.3 billion of unencumbered assets as of 3/31/2013, significantly reducing
risk for shareholders and bondholders during market dislocations
Meaningful Unencumbered
Assets
17 banks in its revolving credit facility, plus thousands of bondholdersLender Diversification
3,000+ opportunities originated per annum
Repeat business from management company 25+ year relationships
Call center for additional proprietary deal sourcing
Large investment team allows PSEC to both cover significant origination ground
and process multiple parallel transactions
Superior Transaction Flow
Prospect Highlights Continued