Pennantpark Investment Corporation · NYSE:PNNT
Pennantpark Investment — Investor Presentation (June 2026)
17 slides from Pennantpark Investment's investor presentation, Jun 30, 2026
Slide 1: PennantPark Investment Corporation Investor Presentation
Independent Private Credit Platform | Investing Since 2007 PennantPark Investment Corporation Investor Presentation – June 30, 2026
Slide 2: PennantPark at a Glance
PennantPark at a Glance A Pioneer in Core Middle Private Credit Market Focus Founded in 2007 with a long-term track We target mid-sized companies we record through multiple cycles believe are overlooked by other lenders Firmwide AUM $28 Billion Invested of $10 Billion Over 19 Years Serving sophistic
Slide 3: PennantPark Provides Value-Added Capital to Middle Market Borrowers
PennantPark Provides Value-Added Capital to Middle Market Borrowers We target profitable, growing, and cash-flowing companies with $10 million to $50 million of EBITDA In many cases, PennantPark participates in a company’s first round of institutional investment Seek to act as a strategic partner ai
Slide 4: Five Key Industries of Expertise
Five Key Industries of Expertise We focus on the industries where we believe we have the most expertise and experience, allowing us to act as a strategic and value-added lending partner • Diverse government contract portfolio Government • Mission critical services Services • Alignment with governmen
Slide 5: Extensive Sourcing Network
Extensive Sourcing Network Robust Origination Platform Actively cover Closed deals with Existing lender to Selective underwriting; only 800+ 250+ 180+ 6.4% middle market PE sponsors in PE sponsors; majority repeat portfolio companies across of deals closed from 2021 to the U.S. transactions1 120+ PE
Slide 6: Core Middle Market Potential Advantage
Core Middle Market Potential Advantage The U.S. middle market includes nearly 200,000 companies, generates $10 trillion of annual revenue (1/3 of the U.S. economy), and is the world’s fifth largest economy on a standalone basis1 The core middle market presents attractive investment opportunities – L
Slide 7: The Core Middle Market Offers a Yield Premium with Lower Risk
The Core Middle Market Offers a Yield Premium with Lower Risk Core Middle Market vs. Upper Middle Market/BSL1 S+586 S+529 S+540 S+539 S+515 S+511 S+514 S+521 S+507 Credit Spread S+501 S+497 S+469 S+478 S+477 S+463 S+455 S+450 S+455 S+436 S+479 S+399 S+444 S+434 S+422 S+405 S+409 S+383 S+392 S+394 S+
Slide 8: Quarterly Update
PNNT Quarterly Update
Slide 9: PennantPark’s Publicly-Traded Business Development Companies
PennantPark’s Publicly-Traded Business Development Companies PennantPark manages two differentiated business development companies (BDCs) which trade on the New York Stock Exchange (NYSE) IPO Date: April 2007 April 2011 Ticker: PNNT (NYSE) PFLT (NYSE) Market Value of $1.2 billion $2.5 billion Invest
Slide 10: PNNT is Well Positioned in the Core Middle Market
PNNT is Well Positioned in the Core Middle Market Differentiated Stable Capital Durable Balance Strategy Base Sheet • Focus on the core middle • BDC is designed to enable • $535M revolving credit facility market long-term investment horizon due Dec. 2030 (SOFR + 2.10%) • Loans feature lower leverage
Slide 11: Attractive Portfolio of Middle Market Investments
Attractive Portfolio of Middle Market Investments 159 $1.2B 5.62% $29M direct investments market value of portfolio wtd. avg. credit spread median LTM EBITDA 0.8% 45% 4.7x 2.1x market value of non-accruals median LTV ratio1 median net leverage1 median interest coverage1 Portfolio Composition by Secu
Slide 12: Quarterly Performance Commentary: June 30, 2026
PNNT Quarterly Performance Commentary: June 30, 2026 • $8.9 million of Core Net Investment Income (“NII”) during the quarter • $0.14 of core NII per share during the quarter1 Core NII • Continued focus on rotation of equity positions to grow NII • Invested $77 million across 5 new and 49 existing po
Slide 13: Quarterly Performance Commentary: June 30, 2026 (Continued)
PNNT Quarterly Performance Commentary: June 30, 2026 (Continued) • 45% median loan-to-value ratio • 4.7x median net leverage multiple • 2.1x median interest coverage ratio Strong Credit Performance • Only 4 loans on non-accrual (2.5% at cost and 0.8% at market value) • Software sector exposure of on
Slide 14: Selected Financial Highlights
PNNT Selected Financial Highlights ($mm, except per share data) September 2025 December 2025 March 2026 June 2026 Assets Direct Investments (fair value)1 $955 $809 $801 $732 Joint Venture Investment (fair value) $208 $200 $194 $192 Cash and Other Assets $187 $284 $263 $339 Total Assets $1,350 $1,293
Slide 15: Recent Dividend History
PNNT Recent Dividend History PNNT’s total dividend is expected to remain $0.08 per share, comprised of a $0.04 per share base dividend and a $0.04 per share supplemental dividend The base dividend is expected to be fully supported by Core Net Investment Income, while the supplemental dividend is exp
Slide 16: Key Takeaways
Key Takeaways ✓ Experienced manager with 19-year track record spanning multiple economic and market cycles ✓ The core middle market features loans with lower leverage, higher yields, and stronger covenant packages ✓ Target profitable, cash-flowing, and recession resilient borrowers across five key i
Slide 17: Important Notices
Important Notices The preceding slides contain summaries of certain financial and statistical information about PNNT. The information contained in this presentation is summary information that is intended to be considered in the context of our SEC filings and other public announcements that we may m
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