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CRESCENT Crescent Capital BDC , Inc. Quarterly Earnings Presentation June 30 , 2026
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 2 Disclaimer and Forward-Looking Statement This presentation (the “Presentation”) has been prepared by Crescent Capital BDC, Inc. (together with its consolidated subsidiaries, “CCAP,” “Crescent BDC” or the “Company”) and may be used for informational purposes only. This Presentation contains summaries of certain financial and statistical information about the Company and should be viewed in conjunction with the Company’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K. The information contained herein may not be used, reproduced, referenced, quoted, linked by website, or distributed to others, in whole or in part, except as agreed in writing by the Company. This Presentation does not constitute a prospectus and should under no circumstances be understood as an offer to sell or the solicitation of an offer to buy the Company’s common stock or any other securities nor will there be any sale of the common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. This Presentation provides limited information regarding the Company and is not intended to be taken by, and should not be taken by, any individual recipient as investment advice, a recommendation to buy, hold or sell, or an offer to sell or a solicitation of offers to purchase, the Company’s common stock or any other securities that may be issued by the Company, or as legal, accounting or tax advice. An investment in securities of the type described herein presents certain risks. Footnotes contain important information about the definition of terms used herein, the composition of the investment portfolio and related performance information as well as unrealized investment valuations and should be carefully reviewed. Market data and information included herein (including information relating to portfolio companies) is based on various published and unpublished sources considered to be reliable, but has not been independently verified and there is no guarantee of its accuracy or completeness. Performance information contained herein is based in significant part on unrealized investment valuations which may not be achieved. We undertake no duty or obligation to publicly update or revise the information contained in this Presentation. Legal, tax and regulatory changes, as well as judicial decisions, both within and outside of the United States, could have an adverse impact on the Company and its investments. Instability in the securities markets may increase the risk inherent in CCAP’s investments in that the ability of issuers to refinance or redeem portfolio securities held may depend on their ability to sell new securities in the market. Future periods of uncertainty in the U.S. economy and the economies of other countries of issuers of securities and loans in which the Company may invest, and the possibility of increased volatility, default rates and deterioration in financial markets, may adversely affect the Company’s investment portfolio. This Presentation 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 “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may,” “plans,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions to identify forward-looking statements, although not all forward-looking statements include these words. You should read statements that contain these words carefully because they discuss plans, strategies, prospects and expectations concerning CCAP’s business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which we make them. Factors or events that could cause our actual results to differ, possibly materially from our expectations, include, but are not limited to, the risks, uncertainties and other factors we identify in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in filings we make with the Securities and Exchange Commission (the “SEC”), and it is not possible for us to predict or identify all of them. We undertake 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. CCAP is managed by Crescent Cap Advisors, LLC (the “Investment Adviser”), an SEC- registered investment adviser and a subsidiary of Crescent Capital Group LP (together with its affiliates, “Crescent”). This Presentation contains information about the Company and certain of its affiliates and includes the Company’s historical performance. You should not view information related to the past performance of the Company as indicative of the Company’s future results, the achievement of which is dependent on many factors, many of which are beyond the control of the Company and the Investment Adviser and cannot be assured. There can be no assurances that future dividends will match or exceed historic rates or will be paid at all. Further, an investment in the Company is discrete from, and does not represent an interest in, any other Crescent entity. Nothing contained herein shall be relied upon as a promise or representation whether as to the past or future performance of the Company or any other Crescent entity.
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 3As of June 30, 2026. Past performance does not guarantee or indicate future results. Specialty finance company focused on investing in the debt of private U.S. middle-market companies Crescent Capital BDC, Inc. (CCAP) Q2’15 (Inception) Q2’26 Ticker CCAP Exchange NASDAQ Total Net Assets $656 million Net Asset Value per Share $17.82 Total Assets $1.6 billion $1,571 Total Portfolio Investments ($mm)
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4 Summary of Financial Results Current or prospective client name
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 5 Note: Net asset value per share is based on the shares outstanding at quarter-end. Dividend per share is based on the shares outstanding on the declaration date. Net investment income per share and net realized and unrealized losses per share are based on the weighted average number of shares outstanding for the period. 1. The second special dividend will be paid on September 15, 2026 to stockholders of record as of August 31, 2026. The third special dividend will be paid on December 15, 2026 to stockholders of record as of November 30, 2026. Second Quarter 2026 Highlights Second Quarter Performance • Net investment income (NII) per share for the quarter ended June 30, 2026 was $0.36, as compared to $0.42 for the prior quarter • Net realized and unrealized losses on investments per share for the quarter ended June 30, 2026 of ($0.45). This compares to net realized and unrealized losses on investments of ($0.84) for the prior quarter • Net income per share for the quarter ended June 30, 2026 was ($0.09), as compared to ($0.42) for the prior quarter NAV per Share • Net asset value per share as of June 30, 2026 was $17.82 vs. $18.27 in the prior quarter Dividends • Declaring a regular dividend of $0.34 per share for the third quarter of 2026, payable on October 15, 2026 • The first of three previously announced $0.03 per share special dividends related to undistributed taxable income paid on June 15, 2026(1) Portfolio Highlights • Diversified, defensively positioned portfolio consisting of 192 portfolio companies across 18 industries, valued at $1,571 million as of June 30, 2026 • 91% of CCAP’s portfolio comprised of senior secured first lien and unitranche first lien investments by fair value Capital Structure & Liquidity • Sufficient liquidity profile with $35.7 million in cash and cash equivalents and restricted cash and $199.6 million of undrawn debt capacity
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 6 Enhancements to Fee Structure to Improve Shareholder Alignment Fee Structure (Current) Fee Structure (New) Reduction Base Management Fee 1.25% (Gross Assets, ex. Cash) 1.00% (Gross Assets, ex. Cash) (0.25%) Incentive Fee (Income & Capital Gains) 17.5% 15.0% (2.5%) Incentive Fee Hurdle Rate 7.0% 7.0% No Change • CCAP permanently reduced its base management fee to 1.00% (from 1.25%) and its incentive fee to 15.0% (from 17.5%) – Immediate income accretion to shareholders – Effective as of April 1, 2026 • These reductions improve dividend coverage and provide for greater durability and flexibility
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 7 Note: Figures may not sum due to rounding. 1. Net of taxes. 2. Net debt-to-equity represents principal debt outstanding, less cash and cash equivalents, divided by equity. Financial Highlights $ in millions, except per share data Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net investment income per share $0.46 $0.46 $0.45 $0.42 $0.36 Net realized gains (losses) per share(1) ($0.08) ($0.14) $0.09 ($0.31) ($0.48) Net unrealized gains (losses) per share(1) $0.03 ($0.13) ($0.30) ($0.53) $0.03 Net increase (decrease) in net assets per share $0.41 $0.19 $0.23 ($0.84) ($0.09) Net asset value (NAV) per share $19.55 $19.28 $19.10 $18.27 $17.82 Regular distributions per share $0.42 $0.42 $0.42 $0.42 $0.34 Special distributions per share $0.05 $0.05 - - $0.03 Total assets $1,654 $1,628 $1,622 $1,618 $1,619 Debt obligations, gross $894 $882 $880 $915 $935 Total liabilities $930 $914 $916 $944 $962 Total net assets $725 $714 $706 $674 $656 Debt-to-equity 1.23x 1.23x 1.25x 1.36x 1.42x Net debt-to-equity(2) 1.20x 1.20x 1.20x 1.32x 1.37x
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 8 1. Unitranche loans are first lien loans that may extend deeper in a company’s capital structure than traditional first lien debt and may provide for a waterfall of cash flow priority among different lenders in the unitranche loan. In certain instances, the Company may find another lender to provide the “first out” portion of such loan and retain the “last out” portion of such loan, in which case, the “first out” portion of the loan would generally receive priority with respect to payment of principal, interest and any other amounts due thereunder over the “last out” portion that the Company would continue to hold. In exchange for the greater risk of loss, the “last out” portion earns a higher interest rate. 2. Excludes fixed rate investments. Portfolio Highlights – Selected Metrics $ in millions, except per share data Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Investments at Fair Value $1,601 $1,581 $1,569 $1,563 $1,571 Number of Portfolio Companies 187 187 184 192 192 Median Portfolio Company EBITDA $29 $29 $29 $30 $31 Asset Mix of Investment Portfolio: Senior Secured First Lien 23.8% 22.2% 22.4% 24.2% 23.8% Unitranche First Lien(1) 65.2% 65.8% 66.7% 66.7% 66.2% Unitranche First Lien – Last Out(1) 1.6% 1.7% 1.7% 1.2% 1.2% Senior Secured Second Lien 1.5% 1.2% 0.8% 0.2% 0.9% Unsecured Debt 1.2% 1.2% 1.2% 1.2% 1.6% Equity & Other 4.3% 5.4% 4.9% 4.5% 4.4% LLC/LP Equity Interests 2.4% 2.5% 2.3% 2.0% 1.9% Interest Rate Type on Debt Investments: % Floating Rate 97.2% 97.4% 98.0% 99.2% 98.4% % Fixed Rate 2.8% 2.6% 2.0% 0.8% 1.6% Investment Activity, at cost: Investment Activity $57.5 $73.9 $70.8 $114.9 $57.0 Net Funded Investment Activity ($35.2) ($12.1) ($7.3) $21.8 $20.9 # of Debt Investments in New Portfolio Companies 3 7 5 14 3 Weighted Average Maturity for Debt Investments in New Portfolio Companies (Years) 6.6 5.8 6.8 6.1 6.7 Weighted Average Yield for Debt Investments in New Portfolio Companies 9.4% 9.5% 8.9% 8.9% 9.8% Weighted Average Spread on Debt Investments in New Portfolio Companies (2) 4.8% 5.3% 4.9% 4.8% 5.5%
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 9Note: Figures may not sum due to rounding. Quarterly Statements of Assets and Liabilities As of ($ in thousands, except per share data) 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Assets Investments, at fair value $1,600,692 $1,580,678 $1,569,418 $1,562,470 $1,570,668 Cash, cash equivalents and restricted cash 26,140 27,803 31,497 26,593 35,741 Interest and dividend receivable 9,930 9,932 9,333 10,944 8,214 Unrealized appreciation on forward contracts 1,444 2,082 2,135 1,806 1,255 Receivable for unsettled transaction 14,362 5,285 8,019 12,477 716 Other assets 1,876 1,848 1,733 3,364 2,293 Total Assets $1,654,444 $1,627,628 $1,622,135 $1,617,654 $1,618,887 Liabilities and Net Assets Debt (Gross, includes impact of interest rate swap) $894,373 $881,763 $879,602 $913,843 $932,472 Deferred financing costs (7,055) (6,448) (5,841) (6,710) (9,527) Distributions payable 15,566 15,557 15,527 15,497 12,528 Interest and other debt financing costs 12,479 7,943 12,370 8,353 12,397 Management fees payable 5,075 5,119 5,037 4,915 3,972 Income based incentive fees payable 3,557 3,574 3,468 1,575 2,279 Unrealized depreciation on forward contracts 2,606 2,271 2,134 1,880 1,756 Unrealized depreciation on interest rate swaps - - - 1,603 3,040 Accrued expenses and other liabilities 3,127 3,774 3,800 2,670 3,519 Total Liabilities $929,728 $913,553 $916,097 $943,626 $962,436 Total Net Assets (NAV) $724,716 $714,075 $706,038 $674,028 $656,451 Total Liabilities and Net Assets $1,654,444 $1,627,628 $1,622,135 $1,617,654 $1,618,887 NAV Per Share and Leverage Ratio Common shares outstanding 37,061,547 37,039,657 36,969,285 36,897,356 36,845,952 NAV per share $19.55 $19.28 $19.10 $18.27 $17.82 Debt-to-equity 1.23x 1.23x 1.25x 1.36x 1.42x Net debt-to-equity 1.20x 1.20x 1.20x 1.32x 1.37x Asset coverage 180% 180% 179% 173% 169%
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE $18.27 $17.82 $0.36 ($0.34) ($0.03) ($0.48) $0.03 March 31, 2026 NAV/Share Net Investment Income Regular Dividend Distribution Special Dividend Distribution Net Realized Losses on Exits and Sales of Investments Net Change in Unrealized Appreciation June 30, 2026 NAV/Share 10 Note: Figures may not sum due to rounding. Net asset value per share is based on the shares outstanding at the respective quarter-end. Dividend distributions per share is based on the shares outstanding on the declaration date. Net investment income per share and net realized/unrealized gains and losses per share are based on the weighted average number of shares outstanding for the period. 1. Net of tazes. 2. Includes the net change in unrealized appreciation (depreciation) on foreign currency forward contracts. Net Asset Value per Share Bridge (1) (1) (2)
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 11Note: Figures may not sum due to rounding. Operating Results Detail For the Three Months Ended ($ in thousands, except per share data) 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Investment income Interest & dividend income $41,939 $40,938 $39,984 $37,532 $35,891 Other income 1,053 414 828 380 432 Total investment income $42,992 $41,352 $40,812 $37,912 $36,323 Expenses Interest and other debt financing costs $15,151 $13,876 $13,775 $13,742 $14,863 Management fees, net of waiver 5,076 5,119 5,037 4,915 3,972 Income based incentive fees, net of waiver 3,556 3,574 3,467 1,576 2,278 Other general and administrative 861 870 740 909 840 Professional fees 898 544 655 557 603 Directors' fees 163 159 159 169 163 Income and excise taxes 400 281 500 552 506 Total expenses and taxes $26,105 $24,423 $24,333 $22,420 $23,225 Net investment income after taxes $16,887 $16,929 $16,479 $15,492 $13,098 Net gain (loss) on investments Net realized gain (loss) on investments ($2,901) ($5,009) $3,167 ($11,603) ($17,926) Net realized gain (loss) on foreign currency transactions and forward contracts - - - - 274 Net unrealized appreciation (depreciation) on forward contracts (5,120) 972 191 (75) (427) Net unrealized appreciation (depreciation) on investments 6,147 (5,790) (11,347) (19,327) 1,934 Net realized and unrealized gains (losses) on investments ($1,874) ($9,827) ($7,989) ($31,005) ($16,145) Benefit (provision for taxes on realized gain on investments - - - - (200) Net increase (decrease) in net assets resulting from operations $15,013 $7,102 $8,490 ($15,513) ($3,247) Net investment income per share $0.46 $0.46 $0.45 $0.42 $0.36 Accrued but unpaid distributions $15,566 $15,557 $15,527 $15,497 $12,528 Weighted average common shares outstanding 37,061,547 37,060,595 36,994,094 36,923,308 36,854,446
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12 Portfolio Highlights Current or prospective client name
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 13 Designed to minimize losses via strong credit and non-credit risk mitigation Disciplined Portfolio Construction 91% 98% 0.2x / 5.5x87% 72% 98% First Lien Floating Rate Wtd. Avg. Portfolio Company Attachment Point & Leverage Non-Cyclical Industries with Financial Covenants Sponsored Debt Positions Investments at fair value(1) $1,571mm Portfolio companies 192 Median portfolio company EBITDA(2) $31mm (1) (1),(3) (2),(3),(4),(5) (1),(6),(7) (3),(5) (3),(5) 1. Based on fair value of investments as of June 30, 2026. 2. At time of underwrite. 3. Includes debt investments only. 4. Represents leverage through CCAP owned investments. 5. Based on total commitments, defined as outstanding par amount plus unfunded amount. 6. Excludes LLC/LP investments and Logan JV. Excluded assets comprise less than 5% of total fair value of investments. 7. Designation of “non-cyclical” based on CCAP management’s general views on cyclicality. Management considers the following industries non-cyclical: commercial & professional services; healthcare equipment & services; software services; consumer services; insurance; pharmaceutical, biotech & life sciences; food & staples retailing; household & personal products; telecom services; and food, beverages & tobacco.
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 14 Note: Based on CCAP’s fair value of investments as of June 30, 2026. The Company’s portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. An investment in the Company is different from a direct investment in any of the asset types shown above. 1. Based on S&P industry classification. 2. Includes debt investments only. Portfolio Diversity Diversification by Industry(1)Diversification by Obligor GeographyPortfolio Composition by Interest Rate Type(2) 25% 20% 19% 9% 6% 4% 2% 15% Health Care Equipment & Services Software & Services Commercial & Professional Services Consumer Services Insurance Pharmaceuticals, Biotechnology & Life Sciences Logan JV 12 Other Industries 16% 18% 2% 64% Top 10 Next 11-25 Logan JV Remaining 88% 9% 2% 1% United States Europe Australia Canada 98% 2% Floating Fixed ~$8mm / 0.5% Average Position
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 24% 22% 22% 24% 24% 65% 66% 67% 67% 66% 2% 2% 2% 1% 1%2% 1% <1% <1% 1% 1% 1% 1% 1% 2% 2% 3% 2% 2% 2%4% 5% 5% 5% 4% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 15 Note: Figures may not sum due to rounding. 1. Unitranche loans are first lien loans that may extend deeper in a company’s capital structure than traditional first lien debt and may provide for a waterfall of cash flow priority among different lenders in the unitranche loan. In certain instances, the Company may find another lender to provide the “first out” portion of such loan and retain the “last out” portion of such loan, in which case, the “first out” portion of the loan would generally receive priority with respect to payment of principal, interest and any other amounts due thereunder over the “last out” portion that the Company would continue to hold. In exchange for the greater risk of loss, the “last out” portion earns a higher interest rate. 2. lncludes limited partnership interests. Conservative investment strategy with 91% of portfolio in first lien loans Investment Activity End of Period InvestmentsNew Investment Fundings At Cost. $ in millions At Fair Value. $ in millions 17% 24% 23% 43% 12% 82% 56% 77% 53% 55% 11% <1% 10% <1% 20% 2% 4% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Senior Secured First Lien Unitranche First Lien(1) Unitranche First Lien – Last Out(1) Senior Secured Second Lien Unsecured Debt LLC/LP Equity Interests(2) Equity & Other $57.5 $1,600.1 $73.9 $1,580.7 $70.8 $1,569.4 $1,562.5 $114.9 $57.0 $1,570.7
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 16 1. As of quarter end. 2. Yield includes the impact of non-stated rate income producing equity investments and excludes investments on non-accrual status. Portfolio Net Interest Margin(1) 10.4% 10.4% 10.0% 9.8% 9.6% 6.1% 6.0% 5.8% 6.1% 6.1% 5.8% 5.7% 5.7% 5.5% 5.5% 4.3% 4.0% 3.7% 3.7% 3.6% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Weighted Average Yield of Income Producing Securities (at Cost) Weighted Average Stated Interest Rate on Debt Outstanding Weighted Average Spread Over SOFR of Floating Rate Debt Investments 3 Month Term Secured Overnight Financing Rate ("SOFR") (2)
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 17 Investment Portfolio Performance Ratings Note: As part of CCAP’s monitoring process, each of our investments is graded quarterly on a risk scale of 1 to 5. Our assessment is based on the following categories: (1) Involves the least amount of risk relative to cost or amortized cost. Investment performance is above expectations since origination or acquisition. Trends and risk factors are generally favorable, which may include financial performance or a potential exit. (2) Involves a level of risk that is similar to the risk at the time of origination or acquisition. The investment is generally performing as expected, and the risks around our ability to ultimately recoup the cost of the investment are neutral to favorable relative to the time of origination or acquisition. New investments are generally assigned a rating of 2 at origination or acquisition. (3) Indicates an investment performing below expectations where the risks around our ability to ultimately recoup the cost of the investment have increased since origination or acquisition. For debt investments, borrowers are more likely than not in compliance with debt covenants and loan payments are generally not past due. An investment rating of 3 requires closer monitoring. (4) Indicates an investment performing materially below expectations where the risks around our ability to ultimately recoup the cost of the investment have increased materially since origination or acquisition. For debt investments, borrowers may be out of compliance with debt covenants and loan payments may be past due (but generally not more than 180 days past due). Non-accrual status is strongly considered for debt investments rated 4. (5) Indicates an investment performing substantially below expectations where the risks around our ability to ultimately recoup the cost of the investment have substantially increased since origination or acquisition. We do not expect to recover our initial cost basis. Internal Performance Rating Migration % of Portfolio at Fair Value 3% 3% 3% 4% 3%11% 10% 11% 10% 12% 86% 87% 86% 86% 85% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Internal Performance Ratings 4 & 5 Internal Performance Rating 3 Internal Performance Ratings 1 & 2 (Performing Materially Below Expectations) (Performing Below Expectations) (Performing At or Above Expectations)Non-Accruals (As % of Debt Investments at Cost & FV): 4.8% / 2.5%3.9% / 2.4% 3.3% / 1.6% 4.1% / 2.0% 5.7% / 3.6%
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18 Capital Structure Current or prospective client name
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66DBB8 F96B00 F96B84 F9B1A5 C1A017 D23064 208E35 DDDEDE 0E4789 FED100 86DEF0 002151 EDF9FF Background only 885212 D2EFFE 19 Liquidity Management Debt MaturitiesDebt Summary ($ in millions) ($ in millions) Total Committed Amount Principal Amount Outstanding Interest Rate Maturity Date SPV Asset Facility $500 $378 S+200 5/31/29 SMBC Corporate Revolving Facility 335 258 S+200 12/3/29 Series 2024A Unsecured Notes Due Feb-28 35 35 6.77% 2/18/28 Series 2025A Unsecured Notes Due Feb-29 67.5 67.5 S+253(1) 2/13/29 Series 2024A Unsecured Notes Due Feb-30 80 80 6.90% 2/18/30 Series 2025A Unsecured Notes Due Feb-31 67.5 67.5 S+281(1) 2/13/31 Series 2025A Unsecured Notes Due May-29 50 50 5.97% 5/22/29 Total Debt $1,135 $935 6.13%(2) Note: Figures may not sum due to rounding. As of June 30, 2026. Leverage Facility Capacity represents maximum principal amount of the facility subject to borrowing base advance rates and certain other limits/restrictions. 1. Includes impact of interest rate swaps which converts fixed rate notes of 5.87% and 6.20%, respectively, into floating rate notes. 2. Cost of debt as of quarter-end includes amortization of deferred financing costs. $- $35 $753 $80 $68 $199 2026 2027 2028 2029 2030 2031 Drawn Undrawn Short term flexibility of $200 million of undrawn debt capacity