Table of Contents APOLLO INVESTMENT CORPORATION SCHEDULE OF INVESTMENTS (continued) March 31, 2010 (in thousands, except shares) INVESTMENTS IN CONTROLLED PORTFOLIO COMEM:riJES s zoc,w Preferred Equity- 0.3% Grand Prix Holdings, LLC Series A, 12.00% (Innkeepers USA)*** EQUITY Common Equity/Interests- 4.9% AIC Credit Opportuoity Fuod LLC (10) Generation Brands Holdings, Inc. Home Brands) Generation Brands Holdings, Inc. eries H (Quality Home Brands) Generation Brands Holdings, Inc. Series 2L (Quality Home Brands) Grand Prix Holdings, LLC (Innkeepers USA) ** Total Common Equity/Interests TOTAL EQUITY Total Investments in Controlled Portfolio Companies Total Investments -161.0%(11) CASH EQUIVALENTS- 25.3% U.S. Treasury Bill, 0.13%, 7/1110 Total Investments and Cash Equivalents -186.3% Liabilities in Excess of Other Assets- (86.3%) Net Assets -100.0% IBdlllilO: Hotels, Motels, Inns & Gaming Asset Management Consumer Products Consumer Products Consumer Products Hotels, Motels, Inns & Gaming Government See notes to financial statements. 54 Sbateli 2,989,431 750 7,500 36,700 17,335,834 p., 4,monnf* $ 450,000 !.dllil $ 101,346 $ 70,041 2,297 11,242 172,664 $ 256,244 $ 256,244 $ 357,590 $3,242,605 $ 449,852 $3,692,457 Fair l:::llllld:ll $ 5,268 $ 73,514 230 2,297 11,242 $ 87,283 $ 87,283 $ 92,551 $ 2,853,580 $ 449,828 $ 3,303,408 (1,530,602) $ 1,772,806 Related Securities Search Quick Search by Ticker Symbol I Search ) Page I of! 6850 .. Welcome Back, Gareth .J. Tooly " ffome Income Tables Income L1sts Stock Ltsts S p ~ c m l LI'J.t't Se-rvices lnformatJon Logm Symbol KPA' INKPQ KPA-A' Related Securities for Parent Company: KPA Security Innkeepers USA Trust Innkeepers USA Trust, 8.00% Series C Cumul Preferred Shares Innkeepers USA Trust, 8.625% Series A Convertible Preferred Shares - Exchange NYSE OTOTC NYSE *Symbols ending with an asterisk are obsolete and no longer trading on the markets. links Supportors FMdback Gi/estbook About QOL Using QOL QuantumOnline.com Copyright 1997- 2010 QuantumOntine.com. All rights reserved. Latest DataBase Update: 8/1612010 http://www.quantwnonline.corn!ParentCoSearch.efm?tickersymbol=KPA 8/16/2010 - rNKPQ Search Results - QuantumOnline.com Quick Search by Ticker Symbol I Search ) Welcome Back, Gareth J. Tooly Page 1 of2 6850 Home Income Tables Income Lists Stock Lists Special Ltsts Scrvtccs lnformatton Logm Innkeepers USA Trust, 8.00% Series C Cumul Preferred Shares Ticker Symbol: INKPQ CUSIP: 4576J0401 Exchange: OTOTC Security Type: Traditional Preferred Stock Security's Distribution is Suspended! SECURITY DESCRIPTION: Innkeepers USA Trust, 8.0% Series C Cumulative Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/20/2009 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 8.0% ($2.00) per annum paid quarterly on the last Tuesday of Jan, Apr, July & Oct to holders of record on the record date which is the last Friday of Mar, June, Sept & Dec. (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regards to payment pf dividends and upon liquidation, the _preferred shares rank equally with preferreds and senior to the common shares of the company; See tllellSo prospectus for further iimmnation on tne pre eneu stock by clicking on the 'Link to IPO Prospectus' provided below. Stock Cpn Rate LiqPref Call Date Moodys/S&P Distribution 15% Exchange AnnAmt CaiiPrice Matur Date Dated Dates Tax Rate Suspended! Last Tues Jan, OTOTC 8.00% $25.00 1/20/2009 NF/NF Apr, Jul & Oct Chart $2 $25.00 None 7/31/09 Click for MW No ExDiv Date Click for Yahoo ExDivDate . Goto Parent Company s Record fKPA} Notes: July 19, 2010 Innkeepers USA Trust, a real estate investment trust and a leading owner of upscale extended-stay hotel properties throughout the United States, today announced that it has reached various agreements with certain of its key constituents regarding a comprehensive financial restructuring to be effectuated through a pre-arranged plan of reorganization under chapter 11 of the United States Bankruptcy Code. June 21,2010 Innkeepers USA Trust today announced that it has suspended payment of its 2010 -sec-c-o-n'"d'"q"u"a:-:rt::-er dividend on its 8% Series C Cumulative Redeemable Preferred Shares. Innkeepers' board of trustees will continue to review future quarterly dividends on the 8% Series C Cumulative Redeemable Preferred Shares based on financial and economic conditions and other appropriate factors. January 7, 2009 Innkeepers USA Trust (OTC: INKPP) today announced that it will not declare a 2008 fourth quarter dividend on its 8% Series C Cumulative Preferred Shares. Decisions regarding future quarterly dividends on the 8% Series C Cumulative Redeemable Preferred Shares will be made by Innkeepers' board of trustees based on financial and economic conditions and other factors that the board deems appropriate. From the merger proxy statement filed with the SEC on 5/29/2007 "If the merger is completed, our common shares will no longer be traded on the NYSE and will be deregistered under the Exchange Act. We also expect our Series C Preferred shares to be delisted from the NYSE and deregistered under the Exchange Act. As a result, we expect that we will cease to be subject to the reporting obligations under the Exchange Act." "Each Series C preferred unit of the Partnership that is issued and outstanding immediately prior to the effective time of the merger will remain outstanding and held by Innkeepers Financial and will otherwise be unaffected by the merger and the other transactions contemplated by the merger agreement." "At the effective time of the merger, each Series C Preferred share of the Company issued and outstanding immediately prior to the effective time of the merger will automatically be converted into one 8.0% Series C Cumulative Preferred share of beneficial interest, par value $0.01 per share, of the surviving entity having preferences, rights, voting powers and restrictions identical to the Series C Preferred shares. The merger agreement does not affect the rights of holders of Series C Preferred shares to payment of dividends in accordance with the terms of our declaration of trust, as amended." April16, 2007 Innkeepers USA Trust, a hotel real estate investment trust (REIT) and a leading ""ow=n""e""r extended-stay hotel properties throughout the United States, including Residence Inns, Summerfield Suites and Hampton Inns, today announced that it has entered into a definitive agreement to be http:/ /www.quantumonline.com/search.cfrn 8/16/2010 INKPQ Search Results - QuanturnOnline.com Page2 of2 acquired by an affiliate of Apollo Investment Corporation for $17.75 per share in cash, plus the assumption of Innkeepers indebtedness. Innkeepers will pay its first quarter common share dividend on April 24, 2007 and has agreed to suspend any further common share dividends. IPO- 12/19/2003- 5.20 Million Shares @ $25.00/share. Link to IPO Prospectus Previous Ticker Symbol: INKPP Changed: 7/21110 Market Value $130 Million Click for current INKPQ price quote from the PINK SHEETS Click for current INKPQ price quote from the NASDAQ Company's Online Information Links HOME PAGE: http://Www.innkeepersusa.com/ Company's Investor Relations lnfonnation Company's Online News Releases Goto Investor Relations Information Goto News Releases Company Profile Goto Online Profile Company's Online SEC EDGAR Filings Company's SEC EDGAR Filings Goto SEC Filings Address and Phone Numbers Address: 340 Royal Poinciana Way, Suite 306, Palm Beach, FL 33480 Main Phone Number Fax Number Investor Contact (CFO) Dennis Craven 561835-1800 561-835.()457 561-227-1302 Find a problem? Please use our Feedback Page or Email us. Have you filled out our Guestbook? If noL please do. Links Supporters Feedback <Juestbook QOL Using QuantumOnline.com Copyright 1997-2010 QuantumOnline,com. All rights reserved. Latest Update: 8/16/2010 http://www.quanturnonline.com/search.cfin 8/16/2010 Page2 of 3 Confirmation SALOMON SMITH BARNEY Account Number: -_ -_- A member of cltlgroupj"' GARETH J TOOL Y SSB IRA CUSTODIAN Financial Consultant: DANit:L D MOERSCHELL - You Bought 100 at a price of 25.47 EQUITY OFFICE PPTYS TRUST PFD SERA8.98% YIELD/CL 1.417 061502 25.000 NEXT CALL:06/15/02 AT 25.000 Trade Date: 03/11/2002 Market: New York Stock Exch. CUSIP#: 294741-20-2 Security#: E570368 Symbol: EOPPRA We acted as your agent in this transaction. You Bought 50 at a price of 241/2 INNKEEPERS USA TR CONV SH .. BEN INT SER A 8.625% SEE PREFRD STOCK NOTE BELOW Trade Date: 03/11/2002 Market: New York Stock Exch. CUSIP#: 4576J0-30-2 Security#: H527451 Symbol: KPAPRA We acted as your agent in this transaction. VoL .. Jught 100 at a price of 24.30 KRAMONT RL TV TR PFD CONV SH BEN INT SER B-1 % SEE PREFRD STOCK NOTE BELOW sh .. ._,cl. be:. 1 o f., Trade Date: 03/11/2002 Market: New York Stock Exch. CUSIP#: 500750-20-6 Security#: K001232 Symbol: KRTPR We acted as your agent in this transaction. You Bought 100 at a price of 25.54 MID-AMERICA APARTMENTS CMNTYS INC 9 1/2% CUM PFD SERA STRIP 9.333 NEXT CALL:11/01/01 AT 25.000 SEE PREFRD STOCK NOTE BELOW Trade Date: 03/11/2002 Market: New York Stock Exch. CUSIP#: 59522J-20-2 Security#: M422527 Symbol: MAAPRA We acted as your agent in this transaction. Solicited Order Cash Acct. Ref#: 597572 Unsolicited Order Cash Acct. Ref#:597575 Unsolicited Order Cash Acct. Ref#: 597574 Unsolicited Order Cash Acct. Ref#: 597573 Gross Amount Commission Transaction Fee Amount Settlement Date PREFERENTIAL RATE HOLD SECURITIES Gross Amount Commission Transaction Fee Amount Settlement Date PREFERENTIAL RATE HOLD SECURITIES Gross Amount Commission Transaction Fee Amount Settlement Date PREFERENTIAL RATE HOLD SECURITIES Gross Amount Commission Transaction Fee Amount Settlement Date PREFERENTIAL RATE HOLD SECURITIES As a reminder, payment for securities purchased or delivel)' of securities sold must be deposited with us by the Settlement Date. $2,547.00 81.17 5.00 $2,633.17 03/14/2002 $1,225.00 50.92 5.00 $1,280.92 03/14/2002 $2,430.00 79.56 5.00 $2,514.56 03/14/2002 $2,554.00 81.29 5.00 $2,640.29 03/14/2002 See reverse for further details. Keep this document for your records. Thank you for doing business with us. osJ1112oo2 so-o12ss1-L