Cion Investment Corporation · NYSE:CION
Cion Investment — Q1 2026 Earnings Presentation
14 slides from Cion Investment's earnings presentation, May 7, 2026
Slide 1: CION Investment Corporation First Quarter 2026 Earnings Presentation
CION Investment Corporation First Quarter 2026 Earnings Presentation
Slide 2: Disclosures and Forward-Looking Statements
Disclosures and Forward - Looking Statements 2 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 Thursday, May 7 , 2026 as well as the Company’s Quar
Slide 3: First Quarter and Other Highlights – Ended March 31, 2026
3 1. The discussion of the investment portfolio excludes short term investments. First Quarter and Other Highlights – Ended March 31, 2026 • Net investment income and earnings per share for the quarter ended March 31 , 2026 were $ 0 . 25 per share and $ ( 0 . 45 ) per share, respectively ; • Net ass
Slide 4: Selected Financial Highlights
4 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. Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ($ in millions) $1,792 $1,
Slide 5: Investment Activity
Investment Activity • New investment commitments for the quarter were $69 million, of which $54 million were funded and $15 million were unfunded. • New investment commitments were made across 2 new and 9 existing portfolio companies. • Fundings of previously unfunded commitments for the quarter wer
Slide 6: Portfolio Asset Composition
6 Portfolio Asset Composition * Less than 1%. The discussion of the investment portfolio is at fair value and excludes short term investments. 93% 79% 100% 94% 5% 81% 19% 0%* 1% 0%* 0%* 0%* 1% 0%* 80% 0%* 19% 85% 14% 0%* 87% 81% 1% 12% 19% 0% 92% 1% 0%* 0%* 8% 0% 1% 20% 6% 1% 0%*
Slide 7: Internal Investment Risk Ratings
7 INTERNAL INVESTMENT RISK RATINGS (1) (% of Total Portfolio, Fair Value) Q1 2026 NON - ACCRUAL % (1) Higher Credit Quality Lower Credit Quality Credit Quality of Investments 1. The discussion of the investment portfolio excludes short term investments. * - Less than 1%. Q1 2025 Q2 2025 Q3 2025 Q4 2
Slide 8: Portfolio Summary
PORTFOLIO BY SECURITY TYPE (4) PORTFOLIO BY INTEREST RATE TYPE (4) Portfolio Summary 8 ( 1 ) See endnote 4 in our press release filed with the SEC on May 7 , 2026 . ( 2 ) See endnote 5 in our press release filed with the SEC on May 7 , 2026 . ( 3 ) See endnote 6 in our press release filed with the S
Slide 9: Quarterly Operating Results
Quarterly Operating Results 9 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 All figures in thousands, except share and per share data Investment income $ 51,394 $ 48,881 $ 68,177 $ 43,992 $ 42,865 Interest income (1) 697 1,651 905 5,052 3,798 Dividend income 3,983 1,712 9,629 4,748 2,874 Fee income $ 56,0
Slide 10: Quarterly Balance Sheet
Quarterly Balance Sheet 10 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 All figures in thousands, except per share data and asset coverage ratio Assets $ 1,845,660 $ 1,824,628 $ 1,840,584 $ 1,812,990 $ 1,799,474 Investments, at fair value 7,720 6,533 3,931 8,159 9,248 Cash 40,863 45,246 31,192 27,979 33,
Slide 11: Q1 2026 Net Asset Value Bridge Per Share Data
11 Q1 2026 Net Asset Value Bridge Per Share Data
Slide 12: Debt Summary
12 Maturity Date Interest Rate Principal Amount Outstanding Total Commitment Amount 6/15/2027 S + 2.55% (2) $200 $275 JPM Credit Facility 12/30/2029 7.50% 173 173 7.50% 2029 Notes (1) 12/15/2029 7.70% 125 125 7.70% 2029 Notes (1) 12/15/2027 7.41% 48 48 7.41% 2027 Notes (1) 2/13/2028 S + 2.75% 100 12
Slide 13: Distribution Per Share and Distribution Coverage
13 Distribution Per Share and Distribution Coverage 1 1. Includes supplemental distributions of $0.05 and $0.05 per share during Q2 2024 and Q4 2024, respectively. Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 $0.25 $0.35 $0.74 $0.32 $0.36 $0.35 $0.40 $0.43 Net Investment Income (p
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