Series of Preferred Stocks

6.25% Series A Cumulative Redeemable Preferred Stock (Liquidation Preference $25.00 per share)

The Series A Preferred Stock is not listed on any exchange.

For a description of all of the terms of the Series A Preferred Stock, please review the prospectus supplement for the offering, most recently filed with the SEC on November 22, 2024, and our Articles Supplementary for the 6.25% Series A Cumulative Redeemable Preferred Stock attached as Exhibit 3.1 to the Form 8-K, filed with the SEC on June 1, 2023.

Gladstone Capital Corporation has filed a registration statement (including a prospectus) and a prospectus supplement with the SEC for the offering of the 6.25% Series A Cumulative Redeemable Preferred Stock. Before you invest, you should read the prospectus in the registration statement, the prospectus supplement, and other documents that the Company has filed with the SEC for more complete information about the Company and the offering of the 6.25% Series A Cumulative Redeemable Preferred Stock. You may access these documents for free by visiting EDGAR on the SEC’s website at www.SEC.gov. Alternatively, the Dealer Manager for the offering of the 6.25% Series A Cumulative Redeemable Preferred Stock, Gladstone Securities, LLC, will arrange to mail you the prospectus and prospectus supplement if you request one by calling toll-free at (833) 849-5993.