BCP Investment Corporation (BCIC) investor relations material

Executive summary

• Net investment income for Q2 2026 was $5.5 million ($0.45 per share), up from $4.6 million in Q2 2025, but down from $6.9 million in Q1 2026; net assets from operations decreased by $9.9 million due to realized and unrealized losses.

• Net asset value (NAV) declined to $179.5 million ($14.49 per share) as of June 30, 2026, from $193.0 million ($15.60 per share) as of March 31, 2026.

• Portfolio repositioning included $20.9 million in deployments and $34.9 million in repayments and sales, resulting in net repayments of $14.0 million.

• The company completed the acquisition of Logan Ridge Finance Corporation (LRFC) in July 2025, resulting in a purchase discount and expanded portfolio.

• Amended and upsized KeyBank Credit Facility, increasing capacity to $150 million, reducing borrowing costs, and extending maturity to 2031.

Financial highlights

• Total investment income for Q2 2026 was $15.2 million, down from $17.6 million in Q1 2026 and up from $12.6 million in Q2 2025.

• Core investment income for Q2 2026 was $12.9 million, down from $14.8 million in Q1 2026 and up from $12.6 million in Q2 2025.

• Net realized loss on investments was $10.5 million in Q2 2026, mainly from resolution of two non-accrual positions.

• Net change in unrealized depreciation was $4.7 million for Q2 2026, with 47% of Q2's unrealized depreciation concentrated in software and software-exposed investments.

• Distributions paid in Q2 2026 were $0.30 per share; board approved regular monthly base distributions of $0.09 per share for October, November, and December 2026.

Outlook and guidance

• Management expects to continue monthly distributions of $0.09 per share for the remainder of 2026, with potential for quarterly supplemental distributions.

• Focus remains on disciplined portfolio management, selective deployment, prudent capital allocation, and maintaining RIC status.

• Not relying on broad market recovery or M&A activity; emphasis on direct sourcing and core market pipeline.

• Expect continued net repayments to further reduce leverage.