Goldman Sachs Bdc, Inc. · NYSE:GSBD
Goldman Sachs Bdc — Q1 2026 Earnings Presentation
14 slides from Goldman Sachs Bdc's earnings presentation, May 8, 2026
Slide 1: Goldman Sachs BDC, Inc. Investor Presentation
Goldman Sachs BDC, Inc. Investor Presentation Quarter Ended March 31, 2026 www.goldmansachsbdc.com
Slide 2: Disclaimer and Forward-Looking Statement
Disclaimer and Forward-Looking Statement The information contained in this presentation should be viewed in conjunction with the earnings conference call of Goldman Sachs BDC, Inc. (“GSBD” or the "Company”, "we“, "us“, or "our") (NYSE: GSBD) held on May 8, 2026, and the Company’s Quarterly Report on
Slide 3: Quarterly Highlights
Quarterly Highlights Quarter Ended March 31, 2026 • Net investment income and adjusted net investment income per share for the quarter ended March 31, 2026 was $0.22, equating to an annualized net investment income yield on book value of 7.2%.1 Earnings per share for the quarter ended March 31, 2026
Slide 4: Selected Financial Highlights
Selected Financial Highlights Quarter Ended March 31, 2026 (in $ millions, except per share data) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Investment portfolio, at fair value $3,384.7 $3,264.5 $3,196.9 $3,261.7 $3,228.9 1 Total debt oustanding $1,874.9 $1,803.1 $1,853.0 $1,885.8 $1,920.5 Net assets $
Slide 5: Investment Activity
Investment Activity Quarter Ended March 31, 2026 During the quarter, the Company made new investment commitments of approximately $46.5 million, funded new investment commitments of $16.3 million, and had fundings of previously unfunded commitments of $64.2 million • New investment commitments were
Slide 6: Portfolio Asset Composition
Portfolio Asset Composition Quarter Ended March 31, 2026 End of Period Investments (at fair value, $mm) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 1st Lien 91% 90% 94% 93% 93% 1st Lien, Last-Out Unitranche 5% 6% 3% 4% 4% 2nd Lien 1% 2% 2% 2% 2% Unsecured Debt 1% <1% <1% <1% <1% Preferred Stock 1% 1% <1
Slide 7: Credit Quality of Investments
Credit Quality of Investments Quarter Ended March 31, 2026 Non-Accrual Status: As of March 31, 2026, investments on non-accrual status represented 3.2% and 4.7% of the total investment portfolio at fair value and amortized cost, respectively. Q3 2025 Q4 2025 Q1 2026 Rating Fair Value % of Total Port
Slide 8: Portfolio Summary – Goldman Sachs BDC, Inc.
Portfolio Summary – Goldman Sachs BDC, Inc. Quarter Ended March 31, 2026 Portfolio Characteristics Invested Portfolio Total investments and commitments ($mm) $3,803.8 Unfunded commitments ($mm) $574.9 Investments at fair value ($mm) $3,228.9 Yield at fair value of total investments (%)1 10.4% Yield
Slide 9: Quarterly Operating Results
Quarterly Operating Results Quarter Ended March 31, 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Investment income Interest1 $95,746 $89,848 $90,081 $84,771 $77,668 Dividend income 173 208 225 179 125 Other income 1,021 914 1,290 1,112 1,000 Total investment income $96,940 $90,970 $91,596 $86,062 $7
Slide 10: Quarterly Balance Sheet
Quarterly Balance Sheet Quarter Ended March 31, 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Assets Investments at fair value $3,384,669 $3,264,506 $3,196,933 $3,261,721 $3,228,940 Investments in affiliated money market fund 29 67 32,693 35,724 2,476 Cash 82,759 108,036 115,183 43,211 41,851 Interes
Slide 11: Net Asset Value Bridge
Net Asset Value Bridge Quarter Ended March 31, 2026 Net Investment Income $0.22 $0.00 1 $12.64 $0.22 1 $(0.03) Net Realized & Unrealized $12.61 1 $(0.32) Loss $(0.34) $(0.00)1 $(0.34)1 $0.00 $12.17 $0.00 $12.17 1 Q4 '25 Ending Q4 ’25 Supplemental Q4 '25 Ending Q1 '26 Adjusted Q1 '26 Purchase Q1 '26
Slide 12: GSBD Financing Snapshot
GSBD Financing Snapshot As of March 31, 2026 Commitment Debt Outstanding Maturity Debt Type Interest Rate2 Amount ($mm) ($mm)1 Date Goldman Sachs BDC, Inc. Senior Secured Revolving Credit Facility3 Secured $1,695 $721 SOFR + 177.5 bps / 165 bps4 6/24/2030 GSBD 2027 Notes Unsecured $400 $400 6.375% 3
Slide 13: Distribution and Common Stock Information
Distribution and Common Stock Information Quarter Ended March 31, 2026 Base Special Supplemental $0.05 $0.03 $0.051 $0.051 $0.051 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.45 $0.16 $0.16 $0.16 $0.04 $0.03 $0.32 $0.32 $0.32 $0
Slide 14: Non-GAAP Disclosures
Non-GAAP Disclosures As a supplement to our financial results reported in accordance with GAAP, we have provided, as detailed below, certain non-GAAP financial measures. Although these non-GAAP financial measures are intended to enhance investors’ understanding of our business and performance, these