OFS Capital (OFS) Investor presentation summary

Business and platform

• Nasdaq-listed BDC focused primarily on lending to U.S. middle-market companies; affiliated platform reports $3.8B AUM and 40+ professionals.

• Since 1994, the investment adviser has invested ~$28B across more than 16,000 transactions; affiliated real-asset platform reports $32.5B owned or operated.

• Insider ownership is 23%, compared with a 2% BDC sector median.

Portfolio and underwriting

• Loan portfolio is 100% senior secured; 91% of loans are floating rate. Portfolio is diversified across 13 sectors, with no material cyclical-sector exposure or direct oil and gas exposure.

• Portfolio includes 41 companies and $225M invested; one common-equity holding represented 39.0% of debt and equity investments at fair value and 34.8% of total portfolio fair value.

• Underwriting draws on sponsor, intermediary and business-owner relationships, industry analysis, diligence, stress testing and loan monitoring; equity investments are made selectively.

• Since inception, equity-investment return on invested capital was 1.54x for realized investments and 6.04x for unrealized investments.

Third-quarter 2026 performance

• Net investment income was $0.05 per share, down $0.03 QoQ; total investment income decreased $0.9M, partly offset by a $0.6M decrease in total expenses.

• Net loss on investments was $11.9M, including $6.8M unrealized depreciation on one common-equity investment and $3.6M in net realized and unrealized losses on structured-finance securities.

• Net asset value was $7.38 per share versus $8.41 in Q2; net loss from operations was $0.86 per share.

• Weighted-average performing income yield rose to 13.1% from 12.1% QoQ, primarily on non-recurring income from full repayments of certain debt investments; Q4 distribution declared at $0.17 per share.