Investor Presentaiton

Sourcing Strategy Drives Selectivity CION's open architecture origination approach capitalizes on a deep and diverse network of highly experienced and like-minded partners: ■ Private and Public Lenders ■ Select middle market PE sponsors Large cap PE sponsors, on a limited basis ■ Investment Banking / Advisory Firms Lightly syndicated loans Relationships are deep, long-term and personal; often date back for decades ■ Loan pipeline is comprised of opportunities pre-screened by blue-chip origination partners Familiarity leads to efficient internal vetting, evaluation and diligence ■ Increases pool of relative value opportunities Sourcing strategy enables CION to be highly selective with a diverse array of high-quality opportunities, which results in an investment portfolio with unique exposure across the middle market spectrum. This optimizes the transaction funnel, which we believe provides relative value in all markets CION INVESTMENTS 6

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