SLR Investment (SLRC) investor relations material

Executive summary

• Q3 NII was $17.8 million, or $0.33/share, flat QoQ and down from $21.6 million, or $0.40/share, YoY; it exceeded the $0.31 distribution.

• NAV was $17.83/share at September 30, versus $18.00 at June 30 and $18.26 at year-end 2025; net assets totaled $972.8 million.

• Record Q3 originations were $575.1 million, 95% in specialty finance; more than $850 million of capital was available to deploy, subject to borrowing-base limits.

Financial highlights

• Gross investment income was $49.3 million versus $57.0 million YoY; lower average income-producing portfolio size was the primary driver.

• Net expenses were $31.5 million versus $35.4 million YoY, mainly reflecting lower incentive fees alongside lower NII.

• Net increase in assets from operations was $7.6 million, or $0.14/share, versus $23.3 million, or $0.43/share, YoY.

• Net realized and unrealized loss was $10.2 million versus a $1.7 million gain YoY; unrealized investment loss was $10.5 million, with OmniGuide and RQM+ among key contributors.

Outlook and guidance

• Management expects defaults and liability-management exercises to rise over the next year, describing a typical downturn rather than a 2008-style crisis.

• Specialty finance remains the focus; management cited continued demand for capital and a robust ABL pipeline, and said the portfolio is positioned for higher-for-longer rates.

• Base-rate increases may lift finance-strategy returns over the next one or two quarters, though rates may eventually become too high for full pass-through.

• General and administrative expenses are expected to increase moderately in dollars; expense ratios may vary with asset growth, portfolio performance, benchmarks and financing activity.