CION Investment Corporation Reports Second Quarter 2025 Financial Results

About this update from Cion Investment Corporation

Declares Third Quarter 2025 Base Distribution of $0.36 per Share NEW YORK, August 07, 2025 --( BUSINESS WIRE )--CION Investment Corporation (NYSE: CION) ("CION" or the "Company") today reported financial results for the second quarter ended June 30, 2025 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. CION also announced that, on August 4, 2025, its co-chief executive officers declared a third quarter 2025 base distribution of $0.36 per share, payable on September 16, 2025 to shareholders of record as of September 2, 2025. SECOND QUARTER AND OTHER HIGHLIGHTS DISTRIBUTIONS Michael Reisner, co-Chief Executive Officer of CION, commented: "Overall, we are pleased with our growth in NAV and continued steady credit performance in our portfolio. Repayments accelerated this quarter, and we expect additional repayments in the third quarter, which should allow us to deploy into our forward pipeline while balancing our overall leverage profile. Additionally, we are excited to announce that our board has authorized a $20M upsize to our share repurchase program at our quarterly board meeting earlier this week." SELECTED FINANCIAL HIGHLIGHTS Total investment income for the three months ended June 30, 2025 and March 31, 2025 was $52.2 million and $56.1 million, respectively. The decrease in total investment income was primarily driven by lower transaction fees earned from origination and amendment activity during the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025, as well as interest income written off as a result of certain investment restructurings during the quarter ended June 30, 2025, partially offset by an increase in dividend income quarter over quarter. Operating expenses for the three months ended June 30, 2025 and March 31, 2025 were $35.3 million and $36.8 million, respectively. The decrease in operating expenses was primarily driven by lower advisory fees due to lower total investment income during the quarter ended June 30, 2025 as compared to the quarter ended March 31, 2025. PORTFOLIO AND INVESTMENT ACTIVITY 1 A summary of the Company's investment activity for the three months ended June 30, 2025 is as follows: During the three months ended June 30, 2025, new investment commitments were made across 10 existing portfolio companies. During the same period, the Company received full repayment of investments in 3 portfolio companies, sold all investments in 1 portfolio company and wrote off all investments in 1 portfolio company. As a result, the number of portfolio companies decreased from 104 as of March 31, 2025 to 99 as of June 30, 2025. PORTFOLIO SUMMARY 1 As of June 30, 2025, the Company’s investments consisted of the following: The following table presents certain selected information regarding the Company’s investments: As of June 30, 2025, investments on non-accrual status represented 1.37% and 3.03% of the total investment portfolio at fair value and amortized cost, respectively. As of March 31, 2025, investments on non-accrual status represented 1.20% and 3.16% of the total investment portfolio at fair value and amortized cost, respectively. LIQUIDITY AND CAPITAL RESOURCES As of June 30, 2025, the Company had $1.12 billion of total principal amount of debt outstanding, comprised of $425 million of outstanding borrowings under its senior secured credit facilities and $692 million of unsecured notes and term loans. The combined weighted average interest rate on debt outstanding was 7.5% for the quarter ended June 30, 2025. As of June 30, 2025, the Company had $65 million in cash and short-term investments and $106 million available under its financing arrangements. 2 EARNINGS CONFERENCE CALL CION will host an earnings conference call on Thursday, August 7, 2025 at 11:00 am Eastern Time to discuss its financial results for the second quarter ended June 30, 2025. Please visit the Investor Resources - Earnings Presentation section of the Company’s website at www.cionbdc.com for a slide presentation that complements the earnings conference call. All interested parties are invited to participate via telephone or listen via the live webcast, which can be accessed by clicking the following link: CION Investment Corporation Second Quarter Conference Call . Domestic callers can access the conference call by dialing (877) 484-6065. International callers can access the conference call by dialing +1 (201) 689-8846. All callers are asked to dial in approximately 10 minutes prior to the call. An archived replay will be available on a webcast link located in the Investor Resources - Earnings Call section of CION’s website. ENDNOTES ABOUT CION INVESTMENT CORPORATION CION Investment Corporation is a leading publicly listed business development company that had approximately $1.9 billion in total assets as of June 30, 2025. CION seeks to generate current income and, to a lesser extent, capital appreciation for investors by focusing primarily on senior secured loans to U.S. middle-market companies. CION is advised by CION Investment Management, LLC, a registered investment adviser and an affiliate of CION. For more information, please visit www.cionbdc.com . FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "project," "target," "estimate," "intend," "continue," or "believe" or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss CION’s plans, strategies, prospects and expectations concerning its business, operating results, financial condition and other similar matters. These statements represent CION’s belief regarding future events that, by their nature, are uncertain and outside of CION’s control. There are likely to be events in the future, however, that CION is not able to predict accurately or control. Any forward-looking statement made by CION in this press release speaks only as of the date on which it is made. Factors or events that could cause CION’s actual results to differ, possibly materially from its expectations, include, but are not limited to, the risks, uncertainties and other factors CION identifies in the sections entitled "Risk Factors" and "Forward-Looking Statements" in filings CION makes with the SEC, and it is not possible for CION to predict or identify all of them. CION undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. OTHER INFORMATION The information in this press release is summary information only and should be read in conjunction with CION’s Quarterly Report on Form 10-Q, which CION filed with the SEC on August 7, 2025, as well as CION’s other reports filed with the SEC. A copy of CION’s Quarterly Report on Form 10-Q and CION’s other reports filed with the SEC can be found on CION’s website at www.cionbdc.com and the SEC’s website at www.sec.gov . View source version on businesswire.com: https://www.businesswire.com/news/home/20250807495969/en/ Contacts Media Susan Armstrong [email protected] Investor Relations Charlie Arestia [email protected] (646) 253-8259

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