Gladstone Investment Corporation
6.00% Notes due 2040

For a description of the offering and all of the terms of the 6.00% Notes due 2040, please review the prospectus supplement filed with the SEC on May 22, 2020. In addition, please review the Indenture and First Supplemental Indenture for the 6.00% Notes attached as Exhibits 4.1 and 4.2 of the Form 8-K, filed with the SEC on May 22, 2020 for the complete terms of such Notes.

Gladstone Investment Corporation has filed a registration statement (including a prospectus) and a prospectus supplement with the SEC for the offering of the 6.0% Notes. Before you invest, you should read the prospectus in the registration statement, the prospectus supplement, and other documents that the Company has filed with the SEC for more complete information about the Company or this offering. You may access these documents for free by visiting EDGAR on the SEC’s website at Alternatively, the Dealer Manager for this offering, Gladstone Securities, LLC, will arrange to mail you the prospectus and prospectus supplement if you request one by calling toll-free at (833) 849-5993.