OFS Credit : Investor Presentation September 2022

OFS Credit Company, Inc. ("OCCI")Investor Presentation

NASDAQ: OCCI (common stock)	September 2022
NASDAQ: OCCIN and OCCIO (preferred stock)

www.ofscreditcompany.com |	©2022 OFS Credit Company
www.cimgroup.com |	©2018 CIM Group | TRADE SECRET / CONFIDENTIAL INFORMATION

Important Disclosures

This presentation and the information and views included herein do not constitute investment advice, or a recommendation or an offer to enter into any transaction with OFS Credit Company, Inc. (the "Company" or "OCCI") or any of its affiliates. This presentation is provided for informational purposes only, does not constitute an offer to sell securities of the Company or a solicitation of an offer to purchase any such securities, and is not a prospectus. From time to time, the Company may have a registration statement relating to one or more of its securities on file with the Securities and Exchange Commission ("SEC"). Any registration statement that has not yet been declared effective by the SEC, and any prospectus relating thereto, is not complete and may be changed. Any securities that are the subject of such a registration statement may not be sold until the registration statement filed with the SEC is effective.

This presentation is solely for the use of the intended recipient(s). The information and its contents are the property of OFS and/or the Company. Any unauthorized dissemination, copying or use of this presentation is strictly prohibited and may be in violation of law. This presentation is being provided for informational purposes only.

Investors should read the Company's prospectus and SEC filings (which are publicly available on the EDGAR Database on the SEC website at http://www.sec.gov) carefully and consider their investment goals, time horizons and risk tolerance before investing in the Company. Investors should consider the Company's investment objectives, risks, charges and expenses carefully before investing in securities of the Company. There is no guarantee that any of the goals, targets or objectives described in this presentation will be achieved. An investment in the Company is not appropriate for all investors, is speculative and entails substantial risk. An investment in the Company is not intended to be a complete investment program. Shares of closed-end investment companies, such as the Company, frequently trade at a discount from their net asset value, which may increase investors' risk of loss.

Past performance is not indicative of, or a guarantee of, future performance. The performance and certain other portfolio information quoted herein represents information as of dates noted herein. Nothing herein shall be relied upon as a representation as to the future performance or portfolio holdings of the Company. Investment return and principal value of an investment will fluctuate, and shares, when sold, may be worth more or less than their original cost. The Company's performance is subject to change since the end of the period noted in this report and may be lower or higher than the performance data shown herein.

Neither OFS nor the Company provides legal, accounting or tax advice. Any statement regarding such matters is explanatory and may not be relied upon as definitive advice. Investors should consult with their legal, accounting and tax advisers regarding any potential investment. The information presented herein is as of the dates noted herein and is derived from financial and other information of the Company, and, in certain cases, from third party sources and reports (including reports of third party custodians, CLO collateral managers and trustees) that have not been independently verified by the Company. As noted herein, certain of this information is estimated and unaudited, and therefore subject to change. We do not represent that such information is accurate or complete, and it should not be relied upon as such. This report does not purport to be complete and no obligation to update or revise any information herein is being assumed.

Information contained on our website is not incorporated by reference into this report and you should not consider information contained on our website to be part of this report or any other report we file with the SEC.

This presentation contains "forward looking statements" that are subject to risks and uncertainties. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the Company's public filings with the SEC. As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. The Company is providing the information as of this date and assumes no obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

OFS is a brand name and is meant to include Orchard First Source Asset Management, LLC, its direct or indirect subsidiaries, including OFS Capital Management, LLC and OFS CLO Management, LLC, which are registered investment advisers, OFS Capital Corporation, a publicly traded business development company (NASDAQ "OFS"), OFS Credit Company, Inc., a publicly traded registered closed-end fund (NASDAQ "OCCI"), and their predecessor entities.

CIM Assets Owned and Operated represents the aggregate assets owned and operated by CIM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication.

Please note, changes in global, national, regional or local economic, demographic or capital market conditions (including as a result of the coronavirus (COVID 19) pandemic that began in the fourth quarter of 2019, the conflict between Russia and Ukraine, rising interest and inflation rates and other factors) have, and may continue to have, a significant negative impact on our business financial condition, results of operations and cash flows and those of our portfolio companies, including our and their ability to achieve our respective objectives.

www.ofscreditcompany.com |	©2022 OFS Credit Company	1
www.cimgroup.com |	©2018 CIM Group | TRADE SECRET / CONFIDENTIAL INFORMATION

OFS Credit Company (NASDAQ: OCCI)

Overview	»	OCCI is a Nasdaq-listedclosed-end fund that primarily invests in CLO equity and debt securities
»	Per share Net Asset Value of $10.61 as of July 31, 2022
	»	OFS was established in 1994 and has $3.5 billion of assets under management1
Advisor	»	Focused on: (1) structuring and investing in CLO equity and subordinated debt; (2) managing CLOs (investing in
		broadly syndicated loans financed through CLOs); and (3) direct loan origination
Alignment of Interest	»	As of July 31, 2022, insiders own ~7.7% of OCCI's common shares
	»	Collateralized by floating rate loans of large, U.S.-based corporations
CLOs are an attractive	»	Diversified by a large number of distinct underlying borrowers across various industry sectors with varying
	vintages
asset class
»	Financed with matched funding (meaning that investments are planned to correspond to the timing of
		payments on financing)
Historical Dividends	»	Annual Distribution of $2.202, 3
»	~$8.53 of distributions since October 2018 IPO
Why OFS and OCCI?

Long-Standing CLO Manager with Expertise in Structuring CLOs and

Investing in the Underlying Corporate Loans

Robust Credit Team with Analyst Coverage of the Senior Secured

Loan Market

OFS is an Experienced CLO Equity Investor

OFS has a Strong Balance Sheet and Low Leverage

1 As of June 30, 2022. Includes both OFS Capital Management, LLC, and its affiliated registered investment adviser, OFS CLO Management, LLC. | 2. Reflects annualized distribution rate on the most recent $0.55 per share distribution declared on the shares of common stock by the Board for the fiscal quarter ending October 31, 2022. The distribution is payable in cash or shares of our common stock on October 31, 2022 at the election of stockholders, to stockholders of record as of September 13, 2022. The total amount of cash distributed to all stockholders will be limited to 20% of the total distribution, excluding any cash paid for fractional shares. The remainder of the distribution (approximately 80%) will be paid in the form of shares of our common stock. The exact distribution of cash and stock to any given stockholder will be dependent upon his/her/its election as well as elections of other stockholders, subject to the pro-rata limitation. | 3. Based on distributions paid in fiscal year 2022, OCCI estimates that 68.0% of distributions have been from accumulated net investment income and 32.0% have been a return of capital. This information is not for tax reporting purposes; each common stockholder, if required, will receive a Form 1099-DIV following the end of each calendar year, which will reflect the actual amounts of taxable ordinary income, capital gains and return of capital paid by us for that calendar year. Past performance is not indicative of future results, and distributions are not guaranteed.

www.ofscreditcompany.com |	©2022 OFS Credit Company	2
www.cimgroup.com |	©2018 CIM Group | TRADE SECRET / CONFIDENTIAL INFORMATION

Third Fiscal Quarter 2022 Highlights1

• Net investment income ("NII") of $3.5 million, or $0.42 per common share, for the fiscal quarter ended July 31, 2022. This compares to NII of $3.1 million or $0.38 per common share for the fiscal quarter ended April 30, 2022. Per common share Net Asset Value of $10.61 as of July 31, 2022.
• Core net investment income ("Core NII")2 of $4.5 million, or $0.54 per common share, for the fiscal quarter ended July 31, 2022. This compares to Core NII of $7.8 million, or $0.97 per common share, for the fiscal quarter ended April 30, 2022.
• On September 1, 2022, OFS Credit's board of directors declared a quarterly distribution of $0.55 per share of common stock for the fiscal quarter ending October 31, 2022. The distribution is payable on October 31, 2022 in cash or shares of our common stock to stockholders of record as of September 13, 2022. The total amount of cash distributed to all stockholders will be limited to 20% of the total distribution, excluding any cash paid for fractional shares.
• As of July 31, 2022, the weighted average GAAP effective yield of our investment portfolio at current cost was 16.86%.

		Fiscal Quarter Ended (unaudited)
		7/31/2022		4/30/2022
Net Investment Income Per Share
Net investment income per share	$	0.42	$	0.38
Net Realized/Unrealized Gain (Loss) Per Share
Net change in unrealized depreciation on investments per share		(1.63)		(1.10)
Net (loss) per share	$	(1.63)	$	(1.10)
Earnings (Loss) Per Share
Earnings (loss) per share	$	(1.21)	$	(0.72)
Core Net Investment Per Share
Net investment income per share	$	0.42	$	0.38
CLO equity adjustments per share		0.12		0.59
Core net investment income per share	$	0.54	$	0.97
Distribution Data
Distributions paid per share	$	0.55	$	0.55

1. Past performance is not indicative of future results, and distributions are not guaranteed.
2. Core NII, which is a financial measure calculated and presented on a basis of methodology other than in accordance with accounting principles generally accepted in the United States of America
   ("GAAP"). Core NII represents NII adjusted for additional applicable cash distributions received on our CLO equity investments. See slide 17 "Supplemental Schedule - Core Net Investment Income" for additional information. Interest waterfall payments in excess of interest income accretion on CLO equity investments.

www.ofscreditcompany.com |	©2022 OFS Credit Company	3
www.cimgroup.com |	©2018 CIM Group | TRADE SECRET / CONFIDENTIAL INFORMATION

OFS Credit Company (NASDAQ: OCCI)

• We believe CLO equity has the potential to generate higher quarterly cash distributions relative to other high-yielding credit investments
• • CLOs primarily invest in a diversified pool of loans to large, rated U.S. corporations
  • • Generally, first lien senior secured
    • Floating rate loans and liabilities providing natural hedge in a changing rate environment
  • Deep asset class with ~$636 billion of CLOs outstanding1
• Access to infrastructure and resources of large platform
• • OFS Capital Management is focused on investing in corporate credit and has $3.5 billion in assets under management2
  • Senior management has worked together for over 10 years
• OFS Capital Management is uniquely positioned to manage OFS Credit Company
• • OFS Capital Management has dual experience as both a CLO equity investor (structuring expertise) and CLO manager (deep knowledge of underlying senior secured corporate loans)
  • OFS has managed CLOs since its inception and has invested over $20 billion in more than 10,000 transactions primarily through CLO vehicles3

1. Source: SIFMA, as of December 31, 2021.
2. As of June 30, 2022. Includes both OFS Capital Management, LLC, and its affiliated registered investment adviser, OFS CLO Management, LLC.
3. Refers to CLOs that OFS Capital Management and OFS CLO Management manage. These CLOs are not held by OFS Credit.

www.ofscreditcompany.com |	©2022 OFS Credit Company	4
www.cimgroup.com |	©2018 CIM Group | TRADE SECRET / CONFIDENTIAL INFORMATION