Slide 1: Investor Presentation May 2022
PHENIXFIN Investor Presentation May 2022
Slide 2: Disclaimer
Disclaimer PHENIXFIN Forward-looking statements and other information This presentation contains forward-looking statements about the Company. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements
Slide 3: Who We Are
Who We Are PHENIXFIN • Nasdaq symbol “PFX” with market capitalization of $83.8 million(1) Publicly Traded Business • 5.25% Notes due 2028 listed on NASDAQ under the symbol “PFXNZ” Development Company • 6.125% Notes due 2023 listed on NASDAQ under the symbol “PFXNL” • Internalization transaction comp
Slide 4: How We Got Here
How We Got Here PHENIXFIN October 2020 January 2021 August 2021 February 2022 Independent members of the Effective January 1, 2021, the PFX share price reaches Board approves Board of Medley Capital name of the Company was 52-week high of $44.00(1) expansion of share Corporation approved the sale ch
Slide 5: Investment Highlights
Investment Highlights PHENIXFIN Reorganization of Management Structure and Alignment of Interests 1 Internalization of management function drives shareholder value through reduced expenses, enhanced operating leverage with scale and alignment of interest through ownership of ~16.8% of the Company’s
Slide 6: Positive Market Response to Internalization
Positive Market Response to Internalization PHENIXFIN Relative Price Change Since December 31, 2020 60.0% PFX BDC I ndex (1) 50.0% 40.0% 34.3% 30.0% 25.8% PFX has achieved 8.5% stock price 20.0% outperformance relative to the BDC Index 10.0% -- % (1 0.0 %) 12/3 1/20 01/3 1/21 02/2 8/21 03/3 1/21 04/
Slide 7: Investment Strategy
Investment Strategy PHENIXFIN Focus On Driving Shareholder Value Manage Existing Portfolio • Optimize the value of existing portfolio positions • Focus generally on strategies to drive NII and NAV: • 1st lien term loans Investment Strategy • Sr. secured bonds • Equity / preferred equity – yield orie
Slide 8: Portfolio Statistics as of March 31, 2022
Portfolio Statistics as of March 31, 2022 PHENIXFIN Type of Industries ($MM)(1) Geography ($MM)(1) $0.1 $3.8 Business Services: 23% $5.2 $25.6 Banking, Finance, Insurance & Real Estate: 23% $43.3 Northeast: 46% $22.0 Construction & Building: 13% $6.7 Southeast: 24% Hotel, Gaming & Leisure: 7% $7.3 A
Slide 9: Favorable Cost Structure and Strong Corporate Governance
Favorable Cost Structure and Strong Corporate Governance PHENIXFIN • Management and shareholders’ interests inherently aligned due to ownership of Company shares Internalized • Efficient internalized management structure Management Structure • New Management team, including investment professionals
Slide 10: Financial Highlights – For the Quarter Ending March 31, 2022
Financial Highlights – For the Quarter Ending March 31, 2022 PHENIXFIN • Total Assets: $229.1 million • Cash Balance: $37.7 million Balance • Total Liabilities: $90.1 million Sheet • NAV: $139.0 million • NAV per common share: $62.94 • Asset Coverage: 278.7% • Total Investment Income: $3.7 million I
Slide 11: Corporate Information
Corporate Information PHENIXFIN Senior Management Research Coverage Website David Lorber Oppenheimer & Co. PhenixFIN Corporation Chairman & CEO Mitchel Penn www.phenixfc.com Ellida McMillan CFO Independent Directors Arthur Ainsberg PHENIXFIN Advisors Corporate Counsel Lead Director Kramer Levin Naft
Slide 12: Key Takeaways
Key Takeaways PHENIXFIN Reorganization of Management Structure and Alignment of Interests Revaluing of Existing Attractive Investments and Liquidity Position Repositioning of Portfolio PHENIXFIN Strong Market Focus on Receptivity Strategies to Around Recent Optimize Tax Initiatives Attributes 11
Slide 13: Financial Overview
PHENIXFIN Financial Overview
Slide 14: PhenixFIN Financial Performance – Balance Sheet
PhenixFIN Financial Performance – Balance Sheet PHENIXFIN 13
Slide 15: PhenixFIN Financial Performance – Income Statement
PhenixFIN Financial Performance – Income Statement PHENIXFIN 14