Cion Investment Corporation · NYSE:CION

Cion Investment — Q2 2023 Earnings Presentation

14 slides from Cion Investment's earnings presentation, Aug 9, 2023

  1. Slide 1: CION Investment Corporation Second Quarter 2023 Earnings Presentation

    CION Investment Corporation Second Quarter 2023 Earnings Presentation

  2. Slide 2: Disclosures and Forward-Looking Statements

    Disclosures and Forward-Looking Statements The information contained in this earnings presentation should be viewed in conjunction with the earnings conference call of CION Investment Corporation (NYSE: CION) (“CION” or the “Company”) held on August 9, 2023 as well as the Company’s Quarterly Report

  3. Slide 3: Selected Financial Highlights

    Selected Financial Highlights (1) The discussion of the investment portfolio excludes short term investments. (2) Total debt outstanding excludes netting of debt issuance costs. Please refer to page 10 for debt net of issuance costs. (3) Includes a special distribution of $0.27 per share during the

  4. Slide 4: Second Quarter and Other Highlights – Ended June 30, 2023

    Second Quarter and Other Highlights – Ended June 30, 2023  Net investment income and earnings per share for the quarter ended June 30, 2023 were $0.43 per share and $0.51 per share, respectively;  Net asset value per share was $15.31 as of June 30, 2023 compared to $15.11 as of March 31, 2023. The

  5. Slide 5: Investment Activity

    Investment Activity  New investment commitments for the quarter were $62 million, all of which were funded.  New investment commitments were made across 4 new and 8 existing portfolio companies.  Fundings of previously unfunded commitments for the quarter were $8 million.  Sales and repayments t

  6. Slide 6: Portfolio Asset Composition

    Portfolio Asset Composition End of Period Investments New Investment Commitments (in millions) (in millions) $1,797 $1,791 $184 1% $1,749 4% 2% 1% $1,688 6% $1,657 6% 2% 2% 1% 0%* 10% 2% 0%* 2% 0%* 1% 8% 1% 2% 0%* 2% 0%* $134 2% 14% $92 1% 98% 90% 90% 93% 87% 89% $62 5% 7% 84% 99% 88% $15 13% 87% Q2

  7. Slide 7: Credit Quality of Investments

    Credit Quality of Investments INTERNAL INVESTMENT RISK RATINGS(1) Q2 2023 NON-ACCRUAL %(1) (% of Total Portfolio, Fair Value) Higher Credit Quality 4.83% 1.69% Lower Credit Quality Amortized Cost Fair Value * - Less than 1%. (1) The discussion of the investment portfolio excludes short term investme

  8. Slide 8: Portfolio Summary

    Portfolio Summary PORTFOLIO BY SECURITY TYPE(4) 89.3% Senior 0.1% 1.0% 9.6% Secured Debt Investments 2.3%  First Lien Debt (87.0%)  Second Lien Debt (2.3%)  Equity (9.6%)  Collateralized Securities & Structured Products: Equity (0.1%) 87.0%  Unsecured Debt (1.0%) PORTFOLIO BY INTEREST RATE TYPE

  9. Slide 9: Quarterly Operating Results

    Quarterly Operating Results 9

  10. Slide 10: Quarterly Balance Sheet

    Quarterly Balance Sheet except per share data and Assets | | Investments, at fair value ! $1,788,462! $1,723,352 $1,760,030 $1,807,048 $1,805,452 Cash ! 11,515! 96,016 82,739 43,661 42,542 Interest receivable on investments H 33,200! 27,333 26,526 26,976 21,962 Receivable due on investments sold ! 9

  11. Slide 11: Q2 2023 Net Asset Value Bridge

    Q2 2023 Net Asset Value Bridge Per Share Data 11

  12. Slide 12: Debt Summary

    Debt Summary $125 million in available capacity within existing senior secured facilities DEBT SCHEDULE DEBT MATURITIES ($ in millions) ($ in millions) Total Principal Commitment Amount Maturity Amount Outstanding Interest Rate Date JPM Credit Facility $675 $600 S + 3.20%(2) 5/15/2025 UBS Facility 1

  13. Slide 13: Distribution Per Share and Distribution Coverage

    Distribution Per Share and Distribution Coverage 1 (1) Includes special distributions of $0.20 per share and $0.27 per share during Q4 2021 and Q4 2022, respectively. 13

  14. Slide 14: Slide 14

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