CION Investment Corporation · NYSE:CION
CION Investment — Q3 2026 Earnings Presentation
15 slides from CION Investment's earnings presentation, Nov 5, 2026
Slide 1: CION Investment Corporation Third Quarter 2026 Earnings Presentation
CION Investment Corporation Third 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, November 5 , 2026 as well as the Company’s
Slide 3: Third Quarter and Other Highlights – Ended September 30, 2026
3 (1) The discussion of the investment portfolio excludes short term investments. Third Quarter and Other Highlights – Ended September 30, 2026 • Net investment income and earnings per share for the quarter ended September 30 , 2026 were $ 0 . 25 per share and $ ( 0 . 07 ) per share, respectively ;
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 11 for debt net of issuance costs. Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ($ in millions) $1,738 $
Slide 5: Investment Activity
Investment Activity • New investment commitments for the quarter were $77 million, of which $72 million were funded and $5 million were unfunded. • New investment commitments were made across 11 existing portfolio companies. • Fundings of previously unfunded commitments for the quarter were $11 mill
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% 36% 97% 3% 81% 19% 0%* 1% 0% 0% 0%* 0%* 80% 0%* 19% 72% 28% 0% 79% 81% 1% 20% 19% 0% 92% 1% 0%* 0%* 8% 0% 20% 6% 1% 0%* 0% 64%
Slide 7: Internal Investment Risk Ratings
7 INTERNAL INVESTMENT RISK RATINGS (1) (% of Total Portfolio, Fair Value) Q3 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. Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Ratin
Slide 8: Market Price Implies $315 Million of Additional Credit Losses
8 Market Price Implies $315 Million of Additional Credit Losses ( 1 ) Calculated using NAV per share and shares outstanding as of September 30 , 2026 , compared to the stock price of $ 6 . 80 as of October 28 , 2026 . ( 2 ) Reflects $ 314 . 9 million in implied credit losses, the difference between
Slide 9: Portfolio Summary
PORTFOLIO BY SECURITY TYPE (4) PORTFOLIO BY INTEREST RATE TYPE (4) Portfolio Summary 9 ( 1 ) See endnote 4 in our press release filed with the SEC on November 5 , 2026 . ( 2 ) See endnote 5 in our press release filed with the SEC on November 5 , 2026 . ( 3 ) See endnote 6 in our press release filed
Slide 10: Quarterly Operating Results
Quarterly Operating Results 10 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 All figures in thousands, except share and per share data Investment income $ 68,177 $ 43,992 $ 42,865 $ 43,382 $ 36,809 Interest income (1) 905 5,052 3,798 3,501 14,631 Dividend income 9,629 4,748 2,874 2,910 (3,135) Fee income
Slide 11: Quarterly Balance Sheet
Quarterly Balance Sheet 11 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 All figures in thousands, except per share data and asset coverage ratio Assets $ 1,840,584 $ 1,812,990 $ 1,799,474 $ 1,800,093 $ 1,501,652 Investments, at fair value 3,931 8,159 9,248 7,664 20,563 Cash 31,192 27,979 33,062 34,571 29
Slide 12: Q3 2026 Net Asset Value Bridge Per Share Data
12 Q3 2026 Net Asset Value Bridge Per Share Data
Slide 13: Debt Summary
13 Maturity Date Interest Rate Principal Amount Outstanding Total Commitment Amount 12/30/2029 7.50% $173 $173 7.50% Public 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% 100 125 UBS Credit Facility 3/31/2031 7.50% 135 135
Slide 14: Distribution Per Share and Distribution Coverage
14 Distribution Per Share and Distribution Coverage 1 (1) Includes a supplemental distribution of $0.05 per share during Q4 2024. Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 $0.25 $0.29 $0.25 $0.35 $0.74 $0.32 $0.36 $0.35 Net Investment Income (per share) $0.30 $0.30 $0.30 $0.36
Slide 15: Slide 15