Oxford Lane Capital Corp · NASDAQ:OXLC
Oxford Lane Capital — Q2 2026 Earnings Presentation
22 slides from Oxford Lane Capital's earnings presentation, Nov 3, 2025
Slide 1: Oxford Lane Capital Corp. Investor Presentation
Oxford Lane Capital Corp. Investor Presentation Quarter Ended September 30, 2025
Slide 2: Disclaimer
Disclaimer This presentation is neither an offer to sell, nor a solicitation of an offer to purchase, an interest in Oxford Lane Capital Corp. (“Oxford Lane”, “OXLC” or the “Fund”). This presentation and the summaries contained herein do not purport to be complete and no obligation to update or othe
Slide 3: Financial Highlights
Financial Highlights (FYE March 31, $ per share) 1,2 Q2-26 Q1-26 Q4-25 Q3-25 Q2-25 GAAP net investment income $ 0.84 $ 0.80 $ 0.89 $ 1.01 $ 1.08 GAAP realized (losses) gains $ (0.19) $ (0.09) $ (0.10) $ (0.05) $ 0.05 GAAP unrealized (depreciation) appreciation $ (0.71) $ (0.43) $ (2.21) $ 0.49 $ (0.
Slide 4: Summary Portfolio Highlights
Summary Portfolio Highlights Portfolio Activity Q2-26 Q1-26 Q4-25 Q3-25 Q2-25 (FYE March 31, $ in millions) New investments 1 $ 145.2 $ 441.8 $ 526.2 $ 389.3 $ 540.0 Sales / Repayments 173.5 120.7 136.0 33.9 160.2 Net investment activity $ (28.3) $ 321.1 $ 390.2 $ 355.3 $ 379.8 Investment Portfolio
Slide 5: CLO Equity / Warehouse & Initial Distribution Schedule
CLO Equity / Warehouse & Initial Distribution Schedule (FYE March 31, $ in millions) Q2-26 Q1-26 Q4-25 Q3-25 Q2-25 CLO Equity CLO equity which has made its initial distribution to OXLC (at original cost)1 $ 3,001.8 $ 2,771.6 $ 2,563.6 $ 2,360.3 $ 2,092.5 2 CLO equity which has not made its initial d
Slide 6: CLO Portfolio Summary
CLO Portfolio Summary As of September 30, 2025 Junior Tranche Interest Diversion Weighted Weighted Average Non-Call Reinvestment AAA Spread Weighted Average Diversity CLO Equity Positions CLO Vintage Year1 Tranche Type Overcollateralization Overcollateralization Average Rating Portfolio Life Period
Slide 7: CLO Portfolio Summary (Continued)
CLO Portfolio Summary (Continued) As of September 30, 2025 Junior Tranche Interest Diversion Weighted Weighted Average Non-Call Reinvestment AAA Spread Weighted Average Diversity CLO Equity Positions CLO Vintage Year1 Tranche Type Overcollateralization Overcollateralization Average Rating Portfolio
Slide 8: CLO Portfolio Summary (Continued)
CLO Portfolio Summary (Continued) As of September 30, 2025 Junior Tranche Interest Diversion Weighted Weighted Average Non-Call Reinvestment AAA Spread Weighted Average Diversity CLO Equity Positions CLO Vintage Year1 Tranche Type Overcollateralization Overcollateralization Average Rating Portfolio
Slide 9: CLO Portfolio Summary (Continued)
CLO Portfolio Summary (Continued) As of September 30, 2025 Junior Tranche Interest Diversion Weighted Weighted Average Non-Call Reinvestment AAA Spread Weighted Average Diversity CLO Equity Positions CLO Vintage Year1 Tranche Type Overcollateralization Overcollateralization Average Rating Portfolio
Slide 10: CLO Portfolio Summary (Continued)
CLO Portfolio Summary (Continued) As of September 30, 2025 Junior Tranche Interest Diversion Weighted Weighted Average Non-Call Reinvestment AAA Spread Weighted Average Diversity CLO Equity Positions CLO Vintage Year1 Tranche Type Overcollateralization Overcollateralization Average Rating Portfolio
Slide 11: CLO Collateral Characteristics
CLO Collateral Characteristics* 9/30/2025 6/30/2025 1 Number of Collateral Obligations 1,872 1,869 2 Top 10 Collateral Obligation Positions as % of Total Collateral 3.41% 3.47% 2 Collateral Weighted Average Price 96.72% 96.60% 2 Largest Individual Obligor Exposure 0.62% 0.61% 2 Average Individual Ob
Slide 12: CLO Portfolio Metrics
CLO Portfolio Metrics 9/30/2025 6/30/2025 Weighted average yield of CLO debt investments at current cost1 17.4% 16.9% Weighted average effective yield of CLO equity investments at current cost2 14.6% 14.7% Weighted average effective yield of total investments at current cost 14.6% 14.8% Weighted ave
Slide 13: Investment Portfolio Composition
Investment Portfolio Composition Top 30 aggregate industry exposures of the CLO vehicles represent ~99.8% of combined investments Top 30 Moody's Industry Exposure 1 Top 30 Moody's Industry Exposure 1 1. High Tech 11.1% 16. Energy: Oil & Gas 2.5% 2. Services: Business 10.1% 17. Containers, Packaging
Slide 14: Capital Structure Overview
Capital Structure Overview As of 9/30/2025 ($ in millions) Principal Amount Carrying Value Coupon Rate Call Date Maturity Outstanding Series 2027 Term Preferred Stock (OXLCP) $88.1 $87.5 6.25% Callable Feb-27 Series 2029 Term Preferred Stock (OXLCO) $67.2 $66.0 6.00% Callable Aug-29 Series 2029 Term
Slide 15: Appendix
APPENDIX
Slide 16: Investment Portfolio Composition – CLO Debt
Investment Portfolio Composition – CLO Debt CLO Tranche Manager Fair Value % of Total1,2 Apex Credit CLO 2019 Ltd. Class FRR Apex Credit Partners $ 2,278,553 0.1% BlueMountain Fuji US CLO II Ltd. Class D Sound Point Capital Management $ 4,290,675 0.2% BlueMountain CLO 2015-4 Ltd. Class ER Sound Poin
Slide 17: Investment Portfolio Composition – CLO Equity
Investment Portfolio Composition – CLO Equity1 CLO Manager Fair Value (2) % of Total3,4 MP CLO VIII, Ltd. Investcorp $ 1,430,000 0.1% AGL CLO 40 Ltd. AGL CLO Credit Management $ 34,556,475 1.3% AIG CLO 2018-1, LLC Clover Credit Management $ 12,105,856 0.5% AIMCO CLO 10, Ltd. Allstate Investment Mana
Slide 18: Investment Portfolio Composition – CLO Equity (Continued)
Investment Portfolio Composition – CLO Equity1 (Continued) CLO Manager Fair Value (2) % of Total3,4 Carlyle US CLO 2025-E, Ltd. Warehouse Carlyle $ 17,800,000 0.7% Catskill Park CLO, Ltd. Blackstone Liquid Credit Strategies $ 48,449 0.0% CBAM 2019-10, Ltd. CBAM CLO Management $ 3,363,000 0.1% CBAM 2
Slide 19: Investment Portfolio Composition – CLO Equity (Continued)
Investment Portfolio Composition – CLO Equity1 (Continued) CLO Manager Fair Value (2) % of Total3,4 Marble Point CLO XVIII Ltd. Investcorp $ 23,610,855 0.9% Marble Point CLO XXIV Ltd. MP CLO Management $ 11,419,800 0.4% Midocean Credit CLO II MidOcean Credit Fund Management $ 1,360 0.0% Midocean Cre
Slide 20: Investment Portfolio Composition – CLO Equity (Continued)
Investment Portfolio Composition – CLO Equity1 (Continued) CLO Manager Fair Value (2) % of Total3,4 Rockford Tower CLO 2021-2, Ltd. Rockford Tower Capital Management $ 10,780,000 0.4% Rockford Tower CLO 2022-1, Ltd. Rockford Tower Capital Management $ 18,463,344 0.7% Rockford Tower CLO 2022-3, Ltd.
Slide 21: Reconciliation of Core Net Investment Income
Reconciliation of Core Net Investment Income We provide information relating to core net investment income (“Core NII”) (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. Our non-GAAP measures
Slide 22: Corporate Information
Corporate Information Board of Directors Fiscal Year End Executive Corporate Officers Independent March 31 Jonathan H. Cohen Board Member and Chief Executive Officer Mark J. Ashenfelter - Chairman Saul B. Rosenthal Board Member and President John Reardon Independent Audit Firm Bruce L. Rubin Chief F