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Medley Management Inc.

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Medley Management Inc.

Medley Management Inc. is an asset management firm offering yield solutions to retail and institutional investors. Medley’s national direct origination franchise, with over 85 people, is a premier provider of capital to the middle market in the U.S. Medley has over $5 billion of assets under management in two business development companies, Medley Capital Corporation (NYSE: MCC) and Sierra Income Corporation, a credit interval fund, Sierra Total return Fund (NASDAQ: SRNTX), and several private investment vehicles. Over the past 15 years, Medley’s principals have invested in excess of $5.7 billion to help over 380 companies grow across 35 industries in North America.

About Investment Manager

Founded: 2002

Management Team:

Seth Taube:

Chief Executive Officer

Brook Taube:

Co-Chief Executive Officer

Jeff Tonkel:

President

Richard Allorto:

Chief Financial Officer

Sponsored Offering(s):

(See tables below)

BDCs

Sierra Income Corporation

Interval Funds

Sierra Total Return Fund

Contact Information

Medley Management Inc. – New York Office
280 Park Avenue
6th Floor East
New York, NY 10017

Phone
212-759-0777

Snapshot

AUM*
$1.1 Billion

Total Equity Raised**
$974.6 Million

Number of Liquidity Events***
0

* Total assets for all active alternative investments reported by sponsor.
** During offering periods, including DRIP proceeds, for all offerings reported by sponsor.
*** As defined by Blue Vault where total liquidity has been achieved for common stock.

Links

Sierra Income Corporation website

Sierra Total Return Fund website

NexPoint Advisors Enhances Medley Proposal

NexPoint Affiliate Demands Medley Capital Corporation Records Regarding Proposed Merger

NexPoint Challenges Independence of Medley and Sierra Boards

NexPoint Advisors Encourages Shareholders to Vote Against Merger Proposal

NexPoint Advisors Proposes Merger with Sierra Income Corporation and Medley Capital Corporation

Sierra Income & Medley Capital Decline NexPoint’s Proposal

NexPoint Advisors Proposes Merger with Sierra Income Corporation and Medley Capital Corporation

Sierra Income Corporation to Acquire Medley Capital Corporation

Sierra Income Corporation Has Raised $922 Million

Sierra Income Provides Funding for Acquisition

Sierra Income Corp. BDC Crosses $1B in Total Investments

Sierra Income Corporation BDC Reduces Sales Load

Medley Announces Sierra Total Return Fund Now Available to Investors

Sierra Income Corporation Announces Q2 2017 Distributions

Medley Launches Sierra Total Return Fund

Sierra Income Corporation Supports Impact Sales’ Acquisition of Harlow-HRK Sales & Marketing, Inc.

Sierra Income Corporation Exceeds $900 Million in Total Equity Capital Raised

David G. Richards Joins Medley Management as a Managing Director and Portfolio Manager of Sierra Total Return Fund

Sierra Income Corporation Supports ZS Fund L.P.’s Acquisition of AmeriJet

Sierra Income Corporation Increase in Public Offering Price

Sierra Income Corporation Decrease in Public Offering Price

Press Releases

Sierra, MCC and MDLY Announce Merger to Create 2nd Largest Internally Managed BDC

Nontraded BDCs

Product Name

Effective Date

Close Date

Open / Closed

Asset Type

Industry Focus

Capital Raised

Total Assets

As of Date

Liquidity

Product Name
Sierra Income Corporation

Effective Date
4/16/12

Closed Date
7/31/18

Open / Closed
Closed

Asset Type
Private Debt

Industry Focus
Diversified

Capital Raised
$978.4M

Total Assets
$1,012.6M

As of Date
3/31/19

Liquidity
SRP/Tender

Interval Funds

Product Name

Effective Date

Close Date

Asset Type

Capital Raised

Total Assets

As of Date

Liquidity

Product Name
Sierra Total Return Fund

Effective Date
6/1/17

Close Date
Continuous

Asset Type
Diversified Debt

Capital Raised
$2.1M

Total Assets
$2.5M

As of Date
12/31/18

Liquidity
SRP/Tender

For Financial Professional Use Only. Not for Retail Clients.

Full-Cycle (Date): Shareholders received cash or listed stock for all common shares of the previously non-traded investment program as of the given date.

In-Process: The investment program has commenced liquidation of its investment portfolio, has announced a merger or sale that has not yet been consummated, or has yet to provide common shareholders with full liquidity for their shares with cash and/or listed stock.

SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. The frequency, price, and limitations vary by investment program.

Suspended: The investment program has suspended its share repurchase or tender program.

None: The investment program does not have an intermittent liquidity program, but shareholders will receive liquidity upon termination or liquidity event at the end of the investment term.

Equity capital raised during offering periods, including DRIP proceeds.

Total Asset figures are from the last quarter reported for active programs and are the average total assets for full-cycle programs over their respective lives.