Bcp Investment Corporation · NASDAQ:BCIC
Bcp Investment — Q3 2025 Earnings Presentation
19 slides from Bcp Investment's earnings presentation, Nov 7, 2025
Slide 1: BCP Investment Corporation
Exhibit 99.2 BCP Investment Corporation
Slide 2: Important Information
Important Information crimes Cautionary Statement Regarding Forward-Looking Statements Investment Corporation (“BCIC" or the "Company"), that are forward: Sk which implied b oy our financi include, but the business, plans and expectations about future investments, our contractual arrangements and re
Slide 3: Quarterly Highlights Third Quarter 2025
Quarterly Highlights cP investment ‘Corporation Third Quarter 2025 Core i i lion for the quart tentanto quarter ended 9/30/24. Key Financial tl incor .71 per share) for dto $4. Metrics . ili , 9 $0.47 p 25, 2025, to 17, 2025. i 3, Was $539.7 millic i ur in 7 pats - i ir il ir lic i of $395.1 milli l
Slide 4: Recent Milestones & Upcoming Initiatives
Quarterly Highlights Sep Recent Milestones & Upcoming Initiatives Merger and Rebran = ea ees 2025, the C CLRFC Acquisition”) "BCI BCP Investment Corporati cr 1g a maj Recently ea SE aaeion and operational efficiency. Completed Note Offering: i = On October 10, 2025, the C« Milestones inci Notes" 7.7
Slide 5: Core Investment Income and Net Investment Income by Quarter
Fot the Three Months Ended (Dollar amounts in thousands) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Total Investment Income $15,177 $14,392 $12,118 $12,630 $18,940 Less: Purchase discount accretion (25) (25) (16)— (3,618) (1) Core investment income 15,152 14
Slide 6: Limited Repayment Activity
Limited Repayment Activity Sep Over the last three years, BCIC has experienced an average of ~$0.35 mi prepayment acti' lion in income related to repayment / ] er (in Thousands) n Income By Q 500 Quarterly Average: $346 400 300 225 200 | mo | |_| = = 9/30/22 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23
Slide 7: Investment Income Detail by Quarter
For the Three Months Ended (Dollar amounts in thousands) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Interest Income: Non-controlled/non-affiliated investments $11,357 $9,145 $7,300 $8,463 $13,295 Non-controlled affiliated investments 356 1,096 316 324 1,434
Slide 8: Net Asset Value Roll-Forward
For the Three Months Ended (Dollar amounts in thousands) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 NAV, Beginning of Period $196,429 $187,982 $178,493 $173,511 $164,729 Net Investment Income 5,802 5,539 4,340 4,557 8,848 Net realized gain (loss) on investme
Slide 9: BCIC Portfolio Composition
BCIC Portfolio Composition As of September 30, 2025 Key Statistics ification by wer’) CP investment Corporation Key Statistics Total Investments at Fair Value $539.7 million = Borrower 2 veighted Annualized Vi 738% = Borrower 3 Number of Debt + Equity Portfolio Companies 102 . wows Number of Industr
Slide 10: Portfolio Sourcing and Summary
As of (Dollar amounts in thousands) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Portfolio Sourcing (at Fair Value): BC Partners $339,747 $317,588 $326,614 $322,989 $388,832 Legacy KCAP $20,788 $20,291 $18,917 $16,814 $14,028 Legacy OHAI $0 $0 $0 $0 $0 Legacy
Slide 11: Credit Quality
Credit Quality pian As of September 30, 2025 As of September 30, 2025, ten of the Company's debt investments were on non-accrual status and represented 3.8% and 6.3% of the Company's investment portfolio at fair value and amortized cost, respectively. For two of the investments in the non-accrual po
Slide 12: Portfolio Composition
Portfolio Composition sepa As of September 30, 2025 First Lien Debt 73.8% 716% 72.4% Second Lien Debt 6.7% 1.2% 7.1% Subordinated Debt 0.4% 0.4% 0.4% Equity Secur 5.3% 6.1% 65% Collateralized Loan Obligations 1.6% 13% 11% Joint 12.2% 13.4% 12.4% Derivatives = 0.1% 0.1%
Slide 13: Appendix
Appendix
Slide 14: Statements of Operations
For the Three Months Ended September 30, For the Nine Months Ended September 30, (Dollar amounts in thousands) 2025 2024 2025 2024 INVESTMENT INCOME Interest income: Non-controlled/non-affiliated investments $13,295 $11,357 $29,058 $35,891 Non-controlled affiliated investments 1,434 356 2,074 763 To
Slide 15: Statements of Assets and Liabilities
As of (Dollar amounts in thousands) September 30, 2025 December 31, 2024 ASSETS (Unaudited) Investments at fair value Non-controlled/non-affiliated investments (amortized cost of $465,407 and $358,153, respectively) $449,517 $327,622 Non-controlled affiliated investments (amortized cost of $84,981 a
Slide 16: Financing Profile
Financing Profile CP investment Corporation Overview of Balance Sheet Financing Facilities of September (inmm) Principal Amount Outstandi Interest Rate Maturity Date Great Lakes Credit Fa $200.0 $130.8 Floating / SOFR+2.50% August 2027 4.875% Notes Due 2026 $108.0 $108.0 Fixed / 4.875%” April 2026 2
Slide 17: Historical Dividend Yield
Historical Dividend Yield BP investment Corporation Lied v% 11.0% 10.7% 10.0% = = 89% 9.0% ame 2am 22% 24% 83% 83% 64% 6.8% 7.1% ~ 22% 8.2% $0.07 $0.02 $0.64 30.6 50.64 boa 50.6 so 04 at 19 Q419_QN20 Q2'20 Q3'20 Q4'20 QI'21_Q2'21 Q3'21_ Q4'21 QN22 Q2'22 Q3'22 Q4'22 QN'23 Q2'23 Q3'23 Q4'23 QI'24 Q2'2
Slide 18: Historical Dividend Information
Historical Dividend Information “eneon Declaration Record Date Payment Date Per Declaration Record Date Payment Date __Dividend Type Date SI Date 11/6/2025 11/17/2025 11/25/2025 Base 11/8/2022 11/24/2022 12/13/2022 Base $0.67 8/7/2025 8/18/2025 8/29/2025 Base 8/9/2022 8/16/2022 9/2/2022 Base $0.63 8
Slide 19: Corporate Information
Corporate Information crimes Research Coverage Ted Goldthorpe Ted Goldthorpe aul Johnson i Keefe Bruyette & Woods Patrick Schafer Brandon Satoren Erik Zwick Interested Director Chief Financial Officer Lucid Capital Markets Robert Warshauer Independent Director Alex Duka Patrick Schafer Chris Nola In