Pennantpark Floating Rate Capital Ltd. · NYSE:PFLT
Pennantpark Floating Rate Capital — Investor Presentation (June 2026)
17 slides from Pennantpark Floating Rate Capital's investor presentation, Jun 30, 2026
Slide 1: PennantPark Floating Rate Capital Ltd. Investor Presentation
Independent Private Credit Platform | Investing Since 2007 PennantPark Floating Rate Capital Ltd. 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
PFLT 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 2011 April 2007 Ticker: PFLT (NYSE) PNNT (NYSE) Market Value of $2.5 billion $1.2 billion Invest
Slide 10: PFLT is Well Positioned in the Core Middle Market
PFLT 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 long- • $768M revolving credit facility market term investment horizon due Aug. 2030 (SOFR + 2.00%) • Loans feature lower leverag
Slide 11: Attractive Portfolio of Middle Market Investments
Attractive Portfolio of Middle Market Investments 159 $2.5B 5.36% $32M direct investments market value of portfolio wtd. avg. credit spread median LTM EBITDA 97.7% 44% 4.6x 2.1x % paid in cash median LTV ratio1 median leverage1 median interest coverage1 Portfolio Composition by Security Type: Portfo
Slide 12: Quarterly Performance Commentary: June 30, 2026
PFLT Quarterly Performance Commentary: June 30, 2026 • $25.9 million of Core Net Investment Income (“NII”) during the quarter • $0.26 of core NII per share during the quarter1 Robust NII • Supported by the growth of two joint ventures • Invested $212 million across 5 new and 51 existing portfolio co
Slide 13: Quarterly Performance Commentary: June 30, 2026 (Continued)
PFLT Quarterly Performance Commentary: June 30, 2026 (Continued) • 44% median loan-to-value ratio • 4.6x median net leverage multiple • 2.1x median interest coverage ratio Strong Credit • Only 4 loans on non-accrual (1.0% at cost and 0.4% at market value) Performance • PIK income only 2.4% of total
Slide 14: Selected Financial Highlights
PFLT Selected Financial Highlights ($mm, except per share data) September 2025 December 2025 March 2026 June 2026 Assets Direct Investments (fair value) $2,491 $2,239 $2,189 $2,121 Joint Venture Investment (fair value) $282 $367 $391 $384 Cash and Other Assets $141 $110 $168 $130 Total Assets $2,914
Slide 15: Recent Dividend History
PFLT Recent Dividend History Beginning with the dividend payable in July 2026, we set the base monthly dividend at $0.08 per share, a level we believe is well supported by current earnings In addition, we introduced a variable supplemental monthly dividend equal to 50% of excess net investment incom
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 PFLT. 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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