Material Agreement, Financial Obligation (Form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

Effective as of December 10, 2025, BCCI SPV-2, LLC ("BCCI SPV"), a wholly owned subsidiary of Brightwood Capital Corporation I (the "Corporation") entered into the Third Amendment (the "Third Amendment") to the Loan and Servicing Agreement, dated as of October 11, 2024, among BCCI SPV, as borrower, Brightwood SPV Advisors, LLC, as collateral manager, each of the lenders from time to time party thereto, Webster Bank, N.A., as collateral agent, administrative agent and sole lead arranger, U.S. National Bank Association, as document custodian, U.S. Bank Trust Company, National Association, as custodian (the "LSA"). Capitalized terms used but not defined herein shall have the meanings set forth in the LSA.

The Third Amendment amends the LSA (i) to decrease the LSA's applicable spread to 2.15% plus, following the occurrence and during the continuance of an Event of Default, 2.00% and (ii) to assign to Webster Bank, N.A. the rights and obligations under the LSA of certain Outgoing Lenders.

The description above is only a summary of the material provisions of the Third Amendment and the LSA and is qualified in its entirety by reference to copies of the Third Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosure set forth above under Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.