Carlyle Credit Income Fund A · NYSE:CCIF
Carlyle Credit Income Fund A — Carlyle Credit Income Fund — Q1 2026 Earnings Presentation
22 slides from Carlyle Credit Income Fund A's earnings presentation, Feb 26, 2026
Slide 1: Carlyle Credit Income Fund Q1 2026 Quarterly Earnings Presentation
Carlyle Credit Income Fund (“CCIF”) Q1 2026 Quarterly Earnings Presentation February 2026 1
Slide 2: Important Information
Important Information This presentation (the “Presentation”) has been prepared by Carlyle Credit Income Fund. (together with its consolidated subsidiaries, “we,” “us,” “our,” “CCIF” or the “Fund”) (NYSE: CCIF) and may only be used for informational purposes only. This Presentation should be viewed i
Slide 3: Fund Overview
Fund Overview CLOs 1,484 20.00%(1) PRIMARILY INVESTING IN EQUITY AND JUNIOR DEBT TRANCHES OF COMPANIES IN UNDERLYING MONTHLY DIVIDEND THAT IS Carlyle Credit Income COLLATERALIZED LOAN EXPOSURE DECLARED QUARTERLY Fund (“CCIF”) Overview OBLIGATIONS (CLOs) Carlyle (NASDAQ:CG) $477 Billion 2,500+ EMPLOY
Slide 4: Carlyle Firm Overview
Carlyle Firm Overview(1) Firm Overview Global Credit $211 bn AUM(3) 205+ investment professionals(4) Founded: 1987 AUM: $477 bn Global $164 bn AUM 425+ investment professionals Employees: 2,500+ Private Equity Investment Professionals: 760+(2) Offices / Countries: 27 / 17 Carlyle AlpInvest $102 bn A
Slide 5: Carlyle Global Credit Platform
Carlyle Global Credit Platform CARLYLE GLOBAL CREDIT – $211BN AUM(1) LIQUID CREDIT PRIVATE CREDIT REAL ASSETS CREDIT ASSET-BACKED FINANCE AUM: $50.1 billion AUM: $33.9 billion AUM: $20.2 billion AUM: $10.2 billion Directly originated Carlyle managed DIRECT loans, primarily first Commercial aircraft
Slide 6: Securities Overview
Securities Overview Overview of Common and Listed Preferred Shares Current Dividend Current Dividend Payment Description NYSE Ticker Market Cap (1) Closing Price (1) Rate Rate (2) Frequency Common Shares CCIF $76.32 mm $3.60 $0.060 20.00% Monthly Closing Maturity Callable Payment Description NYSE Ti
Slide 7: Q1 2026 Quarterly Results
Q1 2026 (Quarter Ended 12/31/25) Quarterly Results • Net investment income was $0.09 per common share, compared to $0.15 in the prior quarter driven by $0.06 per share of interest expense from the amortization of deferred offering costs associated with the redemption of the Fund's 8.75% Series A Ter
Slide 8: Q1 2026 Quarterly Results (Cont'd)
Q1 2026 (Quarter Ended 12/31/25) Quarterly Results (Cont'd) • Total fair value of the portfolio excluding cash was $181.8 million • New CLO investments during the quarter were $13.1 million with a weighted average GAAP yield of 13.55% as of December 31, 2025 Portfolio & • Sales proceeds during the q
Slide 9: Financial Performance Summary
Financial Performance Summary • Net investment income per share was $0.09 in Q1 2026 ◦ Adjusted net investment income per share was $0.17 ◦ Core net investment income per share was $0.32 • The quarterly dividend of $0.315 was supported by $0.48 in recurring cash flows (Dollar amounts in thousands, e
Slide 10: Quarterly Operating Results Detail
Quarterly Operating Results Detail (Amounts in thousands, except per share data) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 SUMMARY INCOME STATEMENT Total investment income $ 8,269 $ 8,565 $ 8,609 $ 7,736 $ 7,121 Total expenses (4,177) (4,537) (4,682) (4,574) (5,157) Net Investment Income $ 4,092 $ 4,0
Slide 11: Underlying Portfolio Overview
Underlying Portfolio Overview 0.1% CVC Credit Partners 1.2% Blackstone Liquid Credit Strategies 9.8% Ares 8.6% 30.8% Onex Credit Partners CLO Equity Voya Alternative Asset Management 7.7% Legacy Real Estate Loan Barings CLO Debt Elmwood Asset Management 7.3% Benefit Street Partners 5.1% CIFC Asset M
Slide 12: Portfolio Overview
Portfolio Overview Summary of Underlying Portfolio Characteristics 12/31/2025 Diversified Portfolio across 54 unique CLO investments managed by 26 different CLO Managers Number of Unique Underlying Loan Obligors 1,484 Number of Underlying Loans 2,009 Aggregate Balance of Underlying Loans $21.93 Bill
Slide 13: Obligor and Industry Exposures
Obligor and Industry Exposures As of December 31, 2025, CCIF has exposure to 1,484 unique loan obligors across a range of industries Obligor and Industry Exposure Top 10 Underlying Obligors % Total Top 10 Industries of Underlying Obligors % Total TransDigm 0.62% High Tech 12.68% Calpine 0.57% Health
Slide 14: Investment Positions as of December 31, 2025
Investment Positions as of December 31, 2025 YEARS YEARS % OF WEIGHTED WEIGHTED MARKET REMAINING IN REMAINING HOLDINGS JUNIOR OC AAA AVERAGE AVERAGE DIVERSITY CLO INVESTMENT VINTAGE VALUE (1) REINVESTMENT IN NON-CALL CCC+ OR CUSHION SPREAD PORTFOLIO RATING SCORE (3) PERIOD PERIOD LOWER SPREAD FACTOR
Slide 15: Investment Positions as of December 31, 2025 (Cont'd)
Investment Positions as of December 31, 2025 (Cont'd) YEARS YEARS % OF WEIGHTED WEIGHTED MARKET REMAINING IN REMAINING HOLDINGS JUNIOR OC AAA AVERAGE AVERAGE DIVERSITY CLO INVESTMENT VINTAGE VALUE (1) REINVESTMENT IN NON-CALL CCC+ OR CUSHION SPREAD PORTFOLIO RATING SCORE (3) PERIOD PERIOD LOWER SPRE
Slide 16: Investment Positions as of December 31, 2025 (Cont'd)
Investment Positions as of December 31, 2025 (Cont'd) YEARS YEARS % OF WEIGHTED WEIGHTED MARKET REMAINING IN REMAINING HOLDINGS JUNIOR OC AAA AVERAGE AVERAGE DIVERSITY CLO INVESTMENT VINTAGE VALUE (1) REINVESTMENT IN NON-CALL CCC+ OR CUSHION SPREAD PORTFOLIO RATING SCORE (3) PERIOD PERIOD LOWER SPRE
Slide 17: Capital Structure - 12/31/2025
Capital Structure - 12/31/2025 Principal Optional Call ($ in millions) Amount Carrying Value Coupon Rate Date / Optional Maturity Outstanding Conversion Date Credit Facility $7.3 $7.3 SOFR + 3.25% N/A 7/11/2028(1) Series B Convertible Preferred Shares $3.5 $3.5 7.125% 2/27/2025 8/27/2029 Series C Co
Slide 18: Monthly Dividend Trend
Monthly Dividend Trend • In conjunction with earnings, CCIF has declared a dividend of $0.06 for the months of March, April, and May 2026, equating to an annualized dividend rate of 20.00% (1) • The dividend is supported by CNII of $0.32 per share and $0.48 per share of recurring cash flows for Q1 2
Slide 19: Appendix
CARLYLE CREDIT INCOME FUND Appendix
Slide 20: Quarterly Balance Sheet Detail
Quarterly Balance Sheet Detail (Dollar amounts in thousands, except per share data) Q1 2026 Assets Investments, at fair value $ 181,766 Cash and cash equivalents 2,561 Interest receivable from investments 5,960 Deferred financing costs 621 Prepaid expenses 223 Total assets $ 191,131 Liabilities & Ne
Slide 21: Quarterly Income Statement Detail
Quarterly Income Statement Detail (Dollar amounts in thousands, except per share data) Q1 2026 Investment Income Interest income $ 7,121 Total investment income $ 7,121 Expenses Interest expense $ 3,586 Management fee 922 Professional fees 278 Other fees and expenses 371 Total expenses $ 5,157 Net I
Slide 22: Non-GAAP Measures
Non-GAAP Measures We provide information relating to adjusted net investment income, a non-GAAP measure, on a supplemental basis. This measure is not provided as a substitute for GAAP net investment income ("GAAP NII'), but in addition to it. Adjusted net investment income represents GAAP NII adjust
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