Kayne Anderson BDC (KBDC) Proxy Filing summary

Executive summary

• The 2025 Annual Meeting for both entities will be held virtually on June 13, 2025, with stockholders voting on director elections and auditor ratification.

• Stockholders of record as of April 3, 2025, are eligible to vote, with materials available online and by request.

• Both companies are managed by affiliated advisors under Kayne Anderson, with over $36 billion in AUM as of December 31, 2024.

Voting matters and shareholder proposals

• Proposals include electing directors (three for KBDC, one for KDL) for three-year terms and ratifying PricewaterhouseCoopers LLP as independent auditor for 2025.

• The boards unanimously recommend voting in favor of all proposals.

• Shareholders may vote online, by phone, mail, or during the virtual meeting.

Board of directors and corporate governance

• Boards are majority independent, with separate leadership for KBDC and KDL.

• Committees include Audit, Nominating, and (for KBDC) Pricing; all independent directors serve on key committees.

• Board diversity is considered broadly, including professional and personal attributes.

• Annual self-assessments are conducted to evaluate board and director effectiveness.