Gladstone Capital Corporation · NASDAQ:GLAD
Gladstone Capital — Investor Presentation (June 2026)
17 slides from Gladstone Capital's investor presentation, Jun 30, 2026
Slide 1: Investor Presentation for the Quarter Ended June 30, 2026
Investing Since 2001 Investor Presentation for the Quarter Ended June 30, 2026 Nasdaq: GLAD FINANCING FOR LOWER MIDDLE MARKET COMPANIES
Slide 2: Legal Disclaimer
Legal Disclaimer Forward-Looking Statements: This presentation may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include commen
Slide 3: Gladstone Capital Quarterly Highlights
Gladstone Capital Quarterly Highlights (as of 06/30/2026) Net Interest Income rose 2.4% to $17.1 million on 3.6% increase in average investment balances and 11.8% weighted average yield unchanged from the prior quarter. Financial NII fell with reduced fee income to $0.49 per share from $0.52 fro
Slide 4: Investment Highlights
Gladstone Capital Investment Highlights Lending focused on growth-oriented lower middle market businesses Experienced, long-tenured leadership and investment team Proprietary sourcing and execution model with high degree of selectivity Diversified portfolio of largely senior first lien loans to PE b
Slide 5: Overview
Gladstone Capital Overview Background: Founded in 2001 with the purpose of making loans to lower middle market U.S. businesses, Gladstone Capital’s investment team is exclusively focused on this segment of the private capital market Gladstone Capital is funded through publicly traded common stoc
Slide 6: Attractive Lower Middle Market Dynamics
Attractive Lower Middle Market Dynamics Why focus on lower middle market (“LMM”) companies Greater industry diversity and more consistent flow of growth-oriented investment opportunities as founder or family businesses seek liquidity and PE firms attracted by the opportunity to professionalize and
Slide 7: 06/30/2026 Quarter Summary
Gladstone Capital 06/30/2026 Quarter Summary Originations/Portfolio Activity: New investments totaled $82.1 million during the quarter and included four new PE Sponsored investments in the manufacturing and healthcare services sectors and $15.4 million in advances to existing portfolio companies.
Slide 8: Origination Activity
Gladstone Capital Origination Activity Gladstone Capital Quarterly Net Investment 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 New Investments at Cost $ - $ 107,159 $ 38,264 $ 58,601 $ 106,700 $ 37,828 $ 34,000 $ 66,713 Disbursements to Existing Portfolio Compani
Slide 9: Portfolio Trends
Gladstone Capital Portfolio Trends Despite buyout financing market volatility and significant repayment activity, LMM deal flow over the past year have lifted earning assets by $202 million or 26.9%. Strong deal flow and healthy backlog of new investments are key to negate competitive pressures
Slide 10: Portfolio Metrics
Portfolio Metrics Consistent with GLAD’s LMM focus, the core loan portfolio continues to represent companies with an average EBITDA of approx. $10.1 million and an average leverage attachment point of 4.1x EBITDA *For the purposes of this presentation, certain investments have been excluded from the
Slide 11: Industry and Deal Sources Are Diversified
Industry and Deal Sources Are Diversified Portfolio Diversification Across 13 Deal Source Composition - Industries - At 06/30/2026 Fair Value At 06/30/2026 Fair Value Page 11
Slide 12: Portfolio Composition
Portfolio Composition Portfolio Characteristics As Of: September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Total Portfolio - FV $ 859,124 $ 902,912 $ 906,844 $ 953,326 # of Portfolio Companies 55 54 55 59 Average Investment Size - FV $ 15,620 $ 16,721 $ 16,488 $ 16,158 Top 5 Investment
Slide 13: Representative Portfolio Investments
Representative Portfolio Investments WINGS ‘N MORE RESTAURANTS LLC. is a proud HH-INSPIRE ACQUISITION, INC. is a plastic Texas tradition and restaurant chain that offers surgery and aesthetic center offering a a diverse, value-oriented menu centered around comprehensive range of cosmetic surgeries a
Slide 14: Quarterly Financial Summary
Quarterly Financial Summary Three Months Ended In Thousands, except per share data June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Income: Interest Income $ 20,835 $ 23,770 $ 23,896 $ 23,196 $ 24,294 Other Investment Income 804 166 615 2,796 201 Total Investment Incom
Slide 15: 06/30/2026 Quarter Summary
Gladstone Capital 06/30/2026 Quarter Summary Capital Base and Liquidity Total Assets increased to $970 million as of June 30, 2026, consisting of $953 million in investments at fair value and ~$17 million in cash and other assets. Maintained a conservative debt level at 90.5% of NAV below the BD
Slide 16: History of Value Creation
Gladstone Capital - History of Value Creation Total Value Creation of $17.23 over the past decade Gladstone has a demonstrated history of value creation for shareholders over the last decade through consistent, growing dividends and book value appreciation Net Asset Value per share growth of $5.
Slide 17: Corporate Data
Corporate Data Executive Officers Websites Research Coverage David Gladstone Gladstone Capital: B. Riley Securities Chairman www.gladstonecapital.com Sean Paul Adams Bob Marcotte Investment Adviser: Clear Street CEO & President www.gladstonemanagement.com Mickey Schleien Nicole Schaltenbrand Informa
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