AB 2020 Form 10-K

CERTAIN DEFINITIONS Except as otherwise specified in this Annual Report on Form 10-K (“Annual Report”), the term “the Fund” refers to AB Private Credit Investors Corporation. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Annual Report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about the Fund, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Fund’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation: • an economic downturn could impair the Fund’s portfolio companies’ ability to continue to operate, which could lead to the loss of some or all of the Fund’s investments in such portfolio companies; • such an economic downturn could disproportionately impact the companies that the Fund intends to target for investment, potentially causing the Fund to experience a decrease in investment opportunities and diminished demand for capital from these companies; • pandemics or other serious public health events, such as the recent global outbreak of a novel strain of the coronavirus, commonly known as “COVID-19”; • a contraction of available credit and/or an inability to access the equity markets could impair the Fund’s lending and investment activities; • interest rate volatility could adversely affect the Fund’s results, particularly if the Fund elects to use leverage as part of its investment strategy; • the Fund’s future operating results; • the Fund’s business prospects and the prospects of its portfolio companies; • the Fund’s contractual arrangements and relationships with third parties; • the ability of the Fund’s portfolio companies to achieve their objectives; • competition with other entities and the Fund’s affiliates for investment opportunities; • the speculative and illiquid nature of the Fund’s investments; • the use of borrowed money to finance a portion of the Fund’s investments; • the adequacy of the Fund’s financing sources and working capital; • the loss of key personnel; • the timing of cash flows, if any, from the operations of the Fund’s portfolio companies; • the ability of the Adviser to locate suitable investments for the Fund and to monitor and administer the Fund’s investments; • the ability of the Adviser to attract and retain highly talented professionals; • the Fund’s ability to qualify and maintain its qualification as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and as a business development company (“BDC”); • the effect of legal, tax and regulatory changes; and • the other risks, uncertainties and other factors the Fund identifies under “Risk Factors” of this Annual Report on Form 10-K. Although the Fund believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not 1