Monroe Capital Enhanced Corporate Lending Fund (MLEND)

Endnotes

1. Refers to MLEND’s portfolio and not the terms of the offering. Individual investors should be aware that in certain other funds or accounts managed by Monroe Capital, institutional investors generally make investments on different terms from individual investors.
2. Net asset value per share is determined by dividing the value of total assets attributable to the class minus liabilities, including accrued fees and expenses, attributable to the class by the total number of Common Shares outstanding of the class at the date as of which the determination is made. The net asset value is as of November 6, 2025.
3. MLEND seeks to invest primarily in directly originated assets, including senior secured loans, and club transactions (generally investments made by a small group of investment firms) and syndicated loans, made to or issued by a diversified set of U.S. lower middle market companies, which MLEND generally defines as companies with between $50 million and $350 million in annual revenue, $3 million and $35 million of annual net income before net interest expense, income tax expense, depreciation and amortization (“EBITDA”), and/or $50 million and $250 million in annual recurring revenue (“ARR”). MLEND’s investment portfolio is expected to be comprised primarily of a balanced portfolio of diversified senior secured loans to lower middle market companies with predictable and stable cash flows (“cash-flow loans”) and senior secured loans to software or technology-enabled lower middle market companies that operate with between $50 million and $250 million in ARR (such loans referred to as “ARR Loans”).
4. Offered on an ongoing, monthly basis. Subscription orders for purchases will be accepted on the first business day of each month. Subscription requests must be received at least five business days before the first day of each month (unless waived by the managing dealer) and NAV will be available generally 20 business days after the effective date of the purchase.
5. MLEND intends to implement a share repurchase program commencing no later than the eighth full calendar quarter following the MLEND’s BDC election, but only a limited number of shares will be eligible for repurchase, and repurchases will be subject to available liquidity and other significant restrictions. See MLEND’s prospectus for more information.
6. Offered on an ongoing, monthly basis. Subscription orders for purchases will be accepted on the first business day of each month. Subscription requests must be received at least five business days before the first day of each month (unless waived by the managing dealer) and NAV will be available generally 20 business days after the effective date of the purchase.
7. There is no assurance we will pay distributions in any particular amount, if at all. Any distributions we make will be at the discretion of the Fund’s board of trustees.  Distributions may be funded from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by MLEND’s investment adviser or its affiliates that may be subject to reimbursement to the adviser or its affiliates.  There is no limit on the amount it may pay from such sources. MLEND’s organizational and offering expenses may be paid by its adviser or its affiliates, other MLEND expenses may also be borne by the adviser or its affiliates, and these practices may have a smoothing effect on NAV per share, and/or distribution payment amounts.
8. MLEND intends to implement a share repurchase program commencing with the quarterly period ending December 31, 2027, but only a limited number of shares will be eligible for repurchase, and repurchases will be subject to available liquidity and other significant restrictions. See MLEND’s prospectus for more information.
9. Total Net Return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested) divided by the beginning NAV per share. Returns greater than one year are annualized. All returns are derived from unaudited financial information and are net of all MLEND expenses, including general and administrative expenses, transaction related expenses, management fees, incentive fees, and share class specific fees, but exclude the impact of early repurchase deductions on the repurchase of shares that have been outstanding for less than one year. Past performance does not predict future returns. Class D and Class S listed as (With Upfront Placement Fee) reflect the returns after the maximum upfront placement fees. Class D and Class S listed as (No Upfront Placement Fee) exclude upfront placement fees. Class I does not have upfront placement fees. The returns have been prepared using unaudited data and valuations of the underlying investments in MLEND’s portfolios which are estimates of fair value and form the basis for MLEND’s NAV. Valuations based on unaudited reports from the underlying investments may be subject to later adjustments, may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated.
10. Monroe products are subject to the risk of capital loss and investors may not get back the amount originally invested. Some of the investments may be considered to have speculative characteristics.
11. Inclusive of both first lien and unitranche loans, excludes equity and liquidity sleeve loans. Based on amortized cost.
12. Average last-twelve-month (“LTM”) EBITDA is the weighted average for Level 3 Assets and EBITDA Based Loans. EBITDA is a non-GAAP financial measure. For a particular portfolio company, LTM EBITDA is generally defined as net income before net interest expense, income tax expense, depreciation and amortization over the preceding 12-month period. Amounts are weighted on amortized cost of each respective investment. Amounts were derived from the most recently available portfolio company financial statements (which are generally one quarter in arrears), have not been independently verified by MLEND, and may reflect a normalized or adjusted amount. Accordingly, MLEND makes no representation or warranty in respect of this information.
13. Weighted average portfolio coupon represents the actual effective rate that the borrower pays, inclusive of reference rate or Interest rate floor, contractual rate, and other recurring fees. All-in coupon does not include closing fees. Actual coupon earned over the life of each investment could differ materially from the coupon presented above. Coupon does not reflect the return of MLEND, which will be reduced by, among other things, fees and expenses, or the return that may ultimately be realized on this investment. Higher coupons represent high cost of capital for borrowers and such costs may increase the risk of default of the risk that the loan may otherwise become impaired. All rate information is as of September 30, 2025. Please refer to MLEND’s prospectus and SEC filings, including, without limitation, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K for fair value disclosures.
14. Average loan-to-value represents the net ratio of loan-to-value for each portfolio company, weighted based on the amortized cost of total applicable investments. Loan-to-value is calculated as the current total net debt through each respective loan tranche divided by the estimated enterprise value of the portfolio company as of the most recently available information. Accordingly, MLEND makes no representation or warranty in respect of this information.
15. MLEND Portfolio as of 11/20/25. Amounts are weighted on amortized cost of each respective investment. Figure excludes equity co-investments.
16. Measured as the amortized cost of investments for each category against the total amortized cost of all investments. Totals may not sum due to rounding.

IMPORTANT DISCLOSURE INFORMATION AND RISK FACTORS

This is neither an offer to sell nor a solicitation to purchase the securities described herein. An offering is made only by Monroe Capital Enhanced Corporate Lending Fund’s (“MLEND” or the “Fund”) prospectus (as amended and supplemented from time to time, the “Prospectus”) to individuals who meet minimum suitability requirements. This material is authorized only when it is accompanied or preceded by the Prospectus and must be read in conjunction with the Prospectus in order to fully understand all the implications and risks of the offering to which the Prospectus relates. Please read the Prospectus prior to making any investment decisions and consider the risks, charges, and expenses and other information described therein. Additional copies of the Prospectus may be obtained by contacting your financial adviser, by visiting EDGAR on the SEC website at http://www.sec.gov, or by visiting https://www.monroemlend.com.

This content, developed in conjunction with InspereX LLC (“InspereX”), managing dealer for the Fund, should not be used as a primary basis for investment decisions and is not intended to serve as investment or fiduciary advice. These materials also contain information about Monroe and certain of its personnel and affiliates whose portfolios are managed by Monroe or its affiliates. Information about the Fund or its investment strategy is not and should not be interpreted as a guarantee of future performance. Future results are subject to any number of risks and factors, many of which are beyond the control of the Fund, its investment adviser, or its managing dealer/distributor. In addition, an investment in the Fund will be discrete from an investment in any other fund or account managed by Monroe (a “Monroe Fund”) and will not be an investment in Monroe. As such, neither the realized returns nor the unrealized values attributable to one Monroe Fund are directly applicable to an investment in any other Monroe Fund. Funds may engage in speculative investment practices such as leverage, short-selling, arbitrage, hedging, derivatives, and other strategies that may increase investment loss. Investors may suffer the loss of their entire investment. In addition, in light of the various investment strategies of such other Monroe Funds, it is noted that such other investment programs may have portfolio investments inconsistent with those of the Fund.

Monroe Capital BDC Advisors, LLC serves as the Fund’s investment adviser (the “Adviser”). The Adviser’s Investment Committee for MLEND (the “Investment Committee”) is responsible for making investment decisions for the Fund’s portfolio. InspereX LLC, member FINRA and SIPC, is the managing dealer for the Fund. InspereX LLC is not affiliated with any entities identified in this communication.

Forward-Looking Statement Disclosure

This website includes information that constitutes “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “could,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include MLEND’s financial estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward‐looking statements are inherently subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. Monroe Capital LLC (“Monroe Capital” or “Monroe”) and MLEND believe these factors include but are not limited to those described in “Summary of Risk Factors” in this communication and under the section entitled “Risk Factors” in the Prospectus and in any such updated factors included in MLEND’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or the Prospectus and other filings). Except as otherwise required by federal securities laws, neither MLEND nor Monroe undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Certain information on this website may contain information obtained from third parties. Reproduction and distribution of third-party content in any form is prohibited except with the prior written permission of the related third party. Third party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPENSATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES, OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS OR LOSSES CAUSED BY NEGLIGENCE) IN CONNECTION WITH ANY USE OF THEIR CONTENT.

Summary of Risk Factors

Investing in the Fund’s common shares of beneficial interest (“Shares”) involves a number of significant risks. You should purchase Shares only if you can afford a complete loss of your investment. Investors should review the offering documents, including the description of risk factors contained in the Prospectus, prior to making a decision to invest in the securities described herein. The Prospectus will include more complete descriptions of the risks described below as well as additional risks relating to, among other things, conflicts of interest and regulatory and tax matters. Any decision to invest in the securities described herein should be made after reviewing such Prospectus, conducting such investigations as the investor deems necessary and consulting the investor’s own legal, accounting and tax advisers in order to make an independent determination of the suitability and consequences of an investment in MLEND.

The following information is a list of material risk factors associated with an investment in the Shares specifically, as well as those factors generally associated with an investment in the Fund. In addition to the other information contained in this communication and the Prospectus, you should consider carefully the following information before making an investment in the Shares. If any of the following events occur, the Fund’s business, financial condition and results of operations could be materially and adversely affected. In such cases, the NAV of the Shares could decline, and you may lose all or part of your investment. Along with the risks listed under the heading “Risk Factors” in the Prospectus, please also consider the following:

• MLEND has a limited operating history and there is no assurance that it will achieve its investment objective.
• An investment in the securities described in the Prospectus may not be appropriate for all investors and is not designed to be a complete investment program.
• Investors should not expect to be able to sell their Shares regardless of how MLEND performs.
• Investors should consider that they may not have access to the money invested for an extended period of time.
• MLEND does not intend to list its Shares on any securities exchange and does not expect a secondary market in the Shares to develop.
• Because investors may be unable to sell their Shares in MLEND, investors will be unable to reduce their exposure in any market downturn.
• MLEND intends to implement a discretionary share repurchase program, but only a limited number of Shares will be eligible for repurchase and repurchases will be subject to available liquidity and other significant restrictions. See “Share Repurchase Program” in the Prospectus.
• An investment in the Shares is not suitable for investors if access to the money invested is needed. See “Suitability Standards” and “Share Repurchase Program” in the Prospectus.
• Distributions are not guaranteed, and any distributions may be funded from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and there are no limits on the amounts to be paid from such sources. The likelihood that distributions are paid from sources other than cash flow from operations is higher in the early stages of the offering.
• Distributions may also be funded in significant part, directly or indirectly, from temporary waivers or expense reimbursements borne by MLEND’s investment adviser, Monroe Capital BDC Advisors, LLC (the “Adviser”), or its affiliates that may be subject to reimbursement to the Adviser or its affiliates. The repayment of any amounts owed to the Adviser or its affiliates will reduce future distributions to which investors would otherwise be entitled.
• MLEND’s organizational and offering expenses may be paid by the Adviser or its affiliates, other MLEND expenses may be borne by the Adviser or its affiliates, and these practices may have a smoothing effect on NAV per share, and/or distribution payment amounts.
• MLEND expects to use leverage, which will magnify the potential for loss on amounts invested in the Fund.
• MLEND qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act, and MLEND cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make an investment in MLEND less attractive to investors.
• MLEND intends to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.
• Certain Monroe funds may have investment objectives that compete or overlap with, and may from time to time invest in asset classes similar to those targeted by, the Fund. As a result, the Fund, on the one hand, and these other entities, on the other hand, may from time to time pursue the same or similar capital and investment opportunities. Monroe and the Fund’s investment adviser endeavor to allocate investment opportunities in a fair and equitable manner, and in any event consistent with any fiduciary duties owed to the Fund, nevertheless, it is possible that the Fund may not be given the opportunity to participate in certain investments made by investment funds managed by investment managers affiliated with Monroe (including the Fund’s investment adviser and its affiliates).
• Economic recessions or downturns could impair the Fund’s portfolio companies and harm its operating results.

This sales material must be read in conjunction with the Prospectus in order to fully understand all the implications and risks of an investment in MLEND. Investors should consider the investment objectives, risks, charges and expenses of the Fund and its portfolio carefully before investing. For copies of the Prospectus and/or summary prospectus, which contain this and other information, click here. Please read the Prospectus and/or summary prospectus carefully before investing.

The list above is not a complete list of Fund risks. You should rely only on the information contained in the Prospectus. The Fund has not authorized anyone to provide you with different information. You should assume that the information provided by the Prospectus is accurate as of its date.

No offering is made except by the Prospectus filed with the Securities and Exchange Commission (“SEC”). Neither the SEC nor any state securities regulator has approved or disapproved of the securities or determined if the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.