On August 2, 2018, in connection with the Externalization Closing, all of the Barings BDC, Inc's then-current directors resigned from their positions on the Board, with the exception of Mark Mulhern. Prior to their resignations, the Board appointed the following individuals to serve on the Board for the terms indicated below, effective as of and after the Externalization Closing. michael freno as class ii director: tom finke as class iii director; eric lloyd as class I director; thomas w. okel as class iii independent director; jill olmstead as class iii independent director; mark mulhern as class I independent director; john switzer as class ii independent director.

In addition, effective as of August 2, 2018, the Board was divided into three classes of directors whereby the directors hold office for staggered terms of three years each. Effective as of August 2, 2018, the following Board committees were formed, each of which will consist of all of the independent directors: (i) Audit Committee chaired by Mr. Switzer, (ii) Nominating and Governance Committee chaired by Mr. Okel, and (iii) Compensation Committee chaired by Ms. Olmstead. Also, in connection with the Externalization Closing, each of the following individuals resigned as officers of the Company effective as of the Externalization Closing: e. ashton poole, the company's chief executive officer and president; steven c. lilly, the company's chief financial officer, secretary and chief compliance officer; c. robert knox, jr., the company's controller and principal accounting officer; jeffrey a. dombcik, senior managing director and chief credit officer; cary b. nordan, senior managing director and chief origination officer; and douglas a. vaughn, senior managing director and chief administrative officer.

Effective as of the Externalization Closing, the following individuals have been appointed to the office, eric lloyd as chief executive officer; jonathan bock as chief financial officer; ian fowler as president; c. robert knox, jr. as principal accounting officer; and melissa lagrant as chief compliance officer.