FOR EXISTING SHAREHOLDERS

2023 Annual Report
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Press Release
July 01, 2024

Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc. Declare Pre-Merger Distributions

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- Apollo Senior Floating Rate Fund Inc. (NYSE: AFT) and Apollo Tactical Income Fund Inc. (NYSE: AIF) today declared pre-merger distributions to their respective stockholders. The specific distribution dates and amounts are detailed below. As previously announced, AFT and AIF received stockholder approval of the necessary proposals related to their mergers with and into MidCap Financial Investment Corporation (NASDAQ: MFIC), and the mergers are currently expected to close in late July, subject to the satisfaction of customary closing conditions. The pre-merger distributions are intended to fully distribute AFT’s and AIF’s accumulated undistributed net investment income prior to the closing of their mergers with and into MFIC, as required pursuant to the terms of the merger agreements previously signed by AFT and AIF.

The following dates apply to the declared distributions:

Apollo Senior Floating Rate Fund Inc.
Ex-Dividend Date: July 11, 2024
Record Date: July 11, 2024
Payment Date: July 18, 2024
Distribution Amount Per Share: $0.2463

Apollo Tactical Income Fund Inc.
Ex-Dividend Date: July 11, 2024
Record Date: July 11, 2024
Payment Date: July 18, 2024
Distribution Amount Per Share: $0.2862

Each of the foregoing distributions will be paid in cash. The specific tax characteristics of the foregoing distributions will be reported to AFT and AIF stockholders within 45 days following the closing of the mergers. Each of these distributions reflects net investment income and may also include return of capital. Return of capital includes distributions paid by a fund in excess of its net investment income. Such excess is distributed from the fund’s assets.
        
In addition, effective July 1, 2024, AFT and AIF suspended their respective dividend reinvestment plans for their common shares.

Apollo Contact Information:

Product Literature
877-864-4834

Investors
Elizabeth Besen
Investor Relations Manager
Apollo Global Management, Inc.
212-822-0625
ebesen@apollo.com

Forward-Looking Statements
Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to: future operating results of MFIC, AFT and AIF, and distribution projections; business prospects of MFIC, AFT and AIF, and the prospects of their portfolio companies, if applicable; and the impact of the investments that MFIC, AFT and AIF expect to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including those set forth in the “Special Note Regarding Forward-Looking Statements” section in our registration statement on Form N-14 (333-275640) previously filed with the Securities and Exchange Commission (the “SEC”). MFIC, AFT and AIF have based the forward-looking statements included in this press release on information available to them on the date hereof, and they assume no obligation to update any such forward-looking statements. Although MFIC, AFT and AIF undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that MFIC, AFT, and/or AIF in the future may file with the SEC, including annual reports on Form 10-K, annual reports on Form N-CSR, quarterly reports on Form 10-Q, semi-annual reports on Form N-CSRS and current reports on Form 8-K.