Common Contracts

GLADSTONE INVESTMENT CORPORATION Up to $50,000,000 Shares of 6.375% Series E Cumulative Term Preferred Stock (Liquidation Preference $25.00 per share) ($0.001 par value per share) SALES AGREEMENT

Administration Agreement • May 21st, 2020 • Gladstone Investment Corporation\de • New York

• Contract Type
  Administration Agreement
• Filed
  May 21st, 2020
• Company
  Gladstone Investment Corporation\de
• Jurisdiction
  New York

Gladstone Investment Corporation, a corporation organized under the laws of Delaware (the “Company”), Gladstone Management Corporation, a Delaware corporation registered as an investment adviser (the “Adviser”), and Gladstone Administration, LLC, a Delaware limited liability company (the “Administrator”), confirm their agreement (this “Agreement”) with Virtu Americas LLC (the “Agent”), as follows:

GLADSTONE INVESTMENT CORPORATION Up to $35,000,000 Shares of Common Stock CONTROLLED EQUITY OFFERINGSM SALES AGREEMENT

Administration Agreement • December 19th, 2019 • Gladstone Investment Corporation\de • New York

• Contract Type
  Administration Agreement
• Filed
  December 19th, 2019
• Company
  Gladstone Investment Corporation\de
• Jurisdiction
  New York

Gladstone Investment Corporation, a corporation organized under the laws of Delaware (the “Company”), Gladstone Management Corporation, a Delaware corporation registered as an investment adviser (the “Adviser”), and Gladstone Administration, LLC, a Delaware limited liability company (the “Administrator”), confirm their agreement (this “Agreement”) with Cantor Fitzgerald & Co. (the “Agent”), as follows:

GLADSTONE INVESTMENT CORPORATION Up to $35,000,000 Shares of Common Stock CONTROLLED EQUITY OFFERINGSM SALES AGREEMENT

Administration Agreement • February 23rd, 2018 • Gladstone Investment Corporation\de • New York

• Contract Type
  Administration Agreement
• Filed
  February 23rd, 2018
• Company
  Gladstone Investment Corporation\de
• Jurisdiction
  New York

Gladstone Investment Corporation, a corporation organized under the laws of Delaware (the “Company”), Gladstone Management Corporation, a Delaware corporation registered as an investment adviser (the “Adviser”), and Gladstone Administration LLC, a Delaware limited liability company (the “Administrator”), confirm their agreement (this “Agreement”) with Cantor Fitzgerald & Co. (the “Agent”), as follows: