On August 5, 2015, the Board of Directors of Apollo Investment Corporation elected Hilary E. Ackermann to the Board, effective as of August 6, 2015, to serve as a Class II Director of the company. The company is aware of no arrangement or understanding between Ms. Ackermann and any other person pursuant to which she was appointed as a director. The company's stockholders elected John J. Hannan and R. Rudolph Reinfrank as Class II Directors of the company, who will each serve for a term of three years, or until his successor is duly elected and qualified.

The company also appointed James C. Zelter as Class III Director of the Company, who will serve a term of one year, or until his successor is duly elected and qualified.