SLR Investment (SLRC) investor relations material

Executive summary

• Net investment income for Q2 2025 was $21.6M ($0.40–$0.44 per share), with NAV per share at $18.19, up sequentially and stable year-over-year.

• Portfolio growth driven by $567M in new investments and $387M in repayments, resulting in net growth of $180M (3.2%).

• Over 80% of portfolio fair value is in specialty finance loans, supporting a strategic shift; 82.9% of income-producing investments are floating rate.

• Portfolio quality remains strong, with 99.5% of debt investments performing and only one nonaccrual.

• Recent developments include a $50M private offering of unsecured notes due 2028 at 5.96% and a declared quarterly distribution of $0.41 per share.

Financial highlights

• Net asset value at 6/30/2025 was $992.3M or $18.19 per share; total assets were $2.54B.

• Gross investment income for Q2 was $53.9M, down from $59.0M year-over-year; net expenses were $32.3M.

• Net realized and unrealized gains of $2.6M in Q2; net increase in net assets from operations was $24.2M.

• Net investment income for Q2 was $21.6M ($0.40–$0.44/share), down from Q1.

• Net expenses declined year-over-year to $32.3M from $34.7M.

Outlook and guidance

• Management expects continued focus on specialty finance and robust investment pipeline, though Q3 originations may be seasonally lower.

• Portfolio positioned to withstand rate cuts due to higher-yielding, less rate-sensitive specialty finance assets.

• Dividend yield stands at 10.3%, with Q3 base distribution of $0.41/share declared.

• Sufficient liquidity with $287.7M in unused borrowing capacity and $150M in common stock available for issuance.

• No material changes to risk factors or forward-looking statements since the last annual report.