Kayne Anderson Bdc, Inc. · NYSE:KBDC
Kayne Anderson Bdc — Q2 2026 Earnings Presentation
17 slides from Kayne Anderson Bdc's earnings presentation, Aug 11, 2026
Slide 1: Kayne Anderson BDC, Inc. Earnings Presentation Second Quarter 2026
KAYNE ANDERSON BDC, INC. EARNINGS PRESENTATION Second Quarter 2026 KAYNEBDC.COM
Slide 2: Disclaimer and Forward-Looking Statement
Disclaimer and Forward-Looking Statement This presentation may contain “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-lookin
Slide 3: Executive Summary
EXECUTIVE SUMMARY AY KAYNE ANDERSON
Slide 4: Executive Summary: Quarterly Highlights
Executive Summary Quarterly Highlights » Net investment income per share: $0.42 Net asset value per share: $16.00 Financial » » Annualized ROE: 10.5% on net investment income Results » 2Q’26 dividend per share: $0.40 regular » Annualized regular dividend yield of ~10.0%(1) » Total fair value was app
Slide 5: Executive Summary: At-a-Glance
Executive Summary At-a-Glance » Scaled, differentiated BDC via focus on core middle market ($10-$75+ million of EBITDA) » Target market and credit selection process facilitates: (i) conservative structures (first lien, lower leverage) in (ii) private equity- backed businesses with (iii) financial ma
Slide 6: Executive Summary: Key Financial Highlights
Executive Summary Key Financial Highlights As of Date and for the Three Months Ended ($000 except per share data) Jun 30 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Net Investment Income $0.42 $0.43 $0.44 $0.43 $0.40 Net Realized and Unrealized Gains (Losses) ($0.26) ($0.17) ($0.12) ($0
Slide 7: Portfolio Overview
PORTFOLIO OVERVIEW AY KAYNE ANDERSON
Slide 8: Portfolio Overview: Key Statistics
Portfolio Overview Key Statistics KEY PORTFOLIO STATISTICS ($ IN MILLIONS) Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Portfolio Highlights Funded Investments at Fair Value $2,267 $2,194 $2,198 $2,256 $2,175 Average Position Size at Fair Value ($) $21.8 $20.9 $20.5 $20.9 $19.1 A
Slide 9: Portfolio Overview: Diversity
Portfolio Overview Diversity (As of June 30, 2026) » Diversified industry exposure across the portfolio, with insignificant exposure to software BORROWER CONCENTRATION (1)(2) INDUSTRY CONCENTRATION Health Care Providers & Services 13.2% Commercial Services & Supplies 11.7% All Others SG Credit Subor
Slide 10: Portfolio Overview: Asset Mix
Portfolio Overview Asset Mix » KBDC committed approximately $139 million to new investments in 2Q’26 » Portfolio is 95% floating rate and nearly all first lien senior secured loans » Asset mix at approximately 93% first lien senior secured GROSS NEW COMMITMENTS ($M)(1) ASSET MIX AT END OF PERIOD(2)
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS AY KAYNE ANDERSON
Slide 12: Financial Highlights: Net Asset Value
Financial Highlights Net Asset Value » NAV was lower by $0.23 per share, primarily the result of realized and unrealized losses on the portfolio (-$0.26), partially offset by net investment income exceeding dividends paid (+$0.02) and accretive share repurchases (+$0.01). NAV PER SHARE BRIDGE $17.50
Slide 13: Financial Highlights: Dividend History
Financial Highlights Dividend History » Prior to 2024, KBDC did not distinguish between regular and supplemental or special distributions and generally distributed substantially all its income on a quarterly basis ▪ During 2Q’24, KBDC established a $0.40 per share regular dividend ▪ KBDC paid three
Slide 14: Balance Sheet and Operating Results
BALANCE SHEET AND OPERATING RESULTS
Slide 15: Balance Sheet Summary
Balance Sheet Summary ($000 except per share data) Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Assets Portfolio company invest., at fair value $2,266,618 $2,194,304 $2,198,421 $2,255,513 $2,174,640 Cash and cash equivalents 39,703 32,662 43,436 46,125 44,355 Deposits for investm
Slide 16: Operating Results Summary
Operating Results Summary For the Three Months Ended ($000 except per share data) Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Investment income: Interest and dividend income $53,202 $53,052 $57,325 $59,227 $55,235 Payment-in-kind interest income 2,501 4,273 4,578 2,146 2,063 Tot
Slide 17: Balance Sheet and Liquidity: Financing Profile
Balance Sheet and Liquidity Financing Profile » KBDC has diverse and adequate sources of liquidity to maintain its target debt-to-equity ratio of 1.00x to 1.25x » Debt capital is comprised of the following committed credit facilities and senior unsecured notes outstanding: DEBT FUNDING MIX ($M) Comm