APS BDC, LLC

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Thomas Hansen, who has served as Chief Financial Officer of APS BDC, LLC (the “Company”), notified the Board of Directors of the Company (the “Board”) of his resignation on March 16, 2026, as the Company’s Chief Financial Officer effective as of the close of business on March 20, 2026. Mr. Hansen’s resignation is not a result of any disagreement with the Company. On March 20, 2026, the Board appointed Amaka Dike as Chief Financial Officer of the Company effective as of the close of business on March 20, 2026. Ms. Dike has primary responsibility for the financial oversight of Oak Hill Advisor’s (“OHA”) business development companies (“BDCs”), interval funds and related vehicles. She serves on OHA’s risk committee. Prior to joining OHA, Ms. Dike was a Principal at The Carlyle Group Inc., where she oversaw financial operations for multiple direct lending and cross strategy funds. Earlier in her career, Ms. Dike was a Senior Manager in Ernst & Young’s Financial Services audit practice, serving banking institutions and alternative investment managers. Ms. Dike holds a Master of Arts in Economics from Kent State University and a Bachelor of Business Administration in Accounting, summa cum laude, from West Virginia University. She is a Certified Public Accountant. Ms. Dike has no family relationships with any current director, executive officer, or person nominated to become a director or executive officer of the Company, and there are no transactions or proposed transactions to which the Company is a party, or intended to be a party, in which Ms. Dike has, or will have, a material interest subject to disclosure under Item 404(a) of Regulation S-K.