Page 1

Welcome to Oaktree Specialty Lending Corporation investors.oaktreespecialty lending.com/news-releases/news-release-details/oaktree-specialty-lending-corporation-announces-second-fiscal-2 Banner Press Release View printer - friendly version << Back Oaktree Specialty Lending Corporation Announces Second Fiscal Quarter 2021 Financial Results and Declares Increased Distribution of $ 0.13 Per Share LOS ANGELES , CA , May 06 , 2021 ( GLOBE NEWSWIRE ) -- Oaktree Specialty Lending Corporation ( NASDAQ : OCSL ) ( " Oaktree Specialty Lending " or the " Company " ) , a specialty finance company , today announced its financial results for the fiscal quarter ended March 31 , 2021 . Financial Highlights for the Quarter Ended March 31 , 2021 • Total investment income was $ 41.9 million ( $ 0.29 per share ) for the second fiscal quarter of 2021 , up from $ 38.2 million ( $ 0.27 per share ) for the first fiscal quarter of 2021. The increase was primarily driven by a larger investment portfolio due to new originations , the increase in assets resulting from the merger with Oaktree Strategic Income Corporation ( " OCSI " ) that was completed during the quarter ( the " Merger " ) and OID accretion that resulted from merger - related accounting adjustments . Excluding the merger - related income accretion , adjusted total investment income was $ 41.3 million ( $ 0.28 per share ) for the second fiscal quarter of 2021 . • GAAP net investment income was $ 18.1 million ( $ 0.12 per share ) for the second fiscal quarter of 2021 , as compared with $ 10.0 million ( $ 0.07 per share ) for the first fiscal quarter of 2021. The increase was primarily driven by higher total investment income and lower accrued Part II incentive fees . Adjusted net investment income was $ 21.1 million ( $ 0.14 per share ) for the second fiscal quarter of 2021 , up slightly from $ 19.6 million ( $ 0.14 per share ) for the first fiscal quarter of 2021 . • Net asset value ( " NAV " ) per share was $ 7.09 as of March 31 , 2021 , up 4 % from $ 6.85 as of December 31 , 2020. The increase was primarily driven by realized and unrealized gains on certain debt and equity investments during the quarter . ● Originated $ 317.7 million of new investment commitments¹ and received $ 228.9 million of proceeds from prepayments , exits , other paydowns and sales during the quarter ended March 31 , 2021. Of these new investment commitments , 80 % were first lien loans , 14 % were second lien loans and 5 % were preferred equity investments . The weighted average yield on new debt investments was 8.2 % . • No investments were on non - accrual status as of March 31 , 2021 . • Total debt outstanding was $ 1,114.8 million as of March 31 , 2021. The total debt to equity ratio was 0.87x , and the net debt to equity ratio was 0.84x , after adjusting for cash and cash equivalents . 1/14