Calculation of Filing Fee Tables
Schedule 14A
(Form Type)
AG Twin Brook BDC, Inc.
(Name of Registrant as Specified in its Charter)
Table 1: Transaction Valuation
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| Proposed Maximum Aggregate Value of Transaction | | Fee Rate | | Amount of Filing Fee |
| Fees to Be Paid | $ | 196,034,000.00 | | (1) | | $ | 0.00011020 | | | $ | 21,602.95 | | (2) |
| Fees Previously Paid | $ | — | | | | | | $ | — | | |
| Total Transaction Valuation | $ | 196,034,000.00 | | | | | | $ | 21,602.95 | | |
| Total Fees Due for Filing | | | | | | $ | — | | |
| Total Fees Previously Paid | | | | | | $ | — | | |
| Total Fee Offsets | | | | | | $ | 21,602.95 | | (3) |
| Net Fee Due | | | | | | $ | — | | |
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| (1) | In accordance with Exchange Act Rule 0-11, the proposed maximum aggregate value of the transaction estimated solely for the purposes of calculating the filing fee was calculated, as of May [19], 2023, based on the net asset value of AG Twin Brook BDC, Inc. (“AGTB”) as of March 31, 2023, as disclosed in AGTB’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. |
| (2) | In accordance with Section 14(g) of the Exchange Act and Exchange Act Rule 0-11, the filing fee was determined as the product of the proposed maximum aggregate value of the transaction as calculated in note (1) above multiplied by 0.00011020. |
| (3) | Previously paid by AG Twin Brook Capital Income Fund. |
Table 2: Fee Offset Claims and Sources
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| Registrant or Filer Name | | Form or Filing Type | | File Number | | Initial
Filing Date | | Filing Date | | Fee Offset Claimed | | Fee Paid with Fee Offset Source |
| Fee Offset Claims | | | Pre M14A | | 333-268405 | | 5-19-2023 | | | | $21,602.95 | | |
| Fee Offset Sources | AG Twin Brook Capital Income Fund | | Pre M14A | | 333-268405 | | | | 5-19-2023 | | | | $21,602.95 |
