Main Street Capital Fixed Income Presentation Deck
Efficient and Leverageable Operating Structure
MAIN's internally
managed operating
structure provides
significant operating
leverage and greater
returns for our
stakeholders
"Internally managed" structure means no external management
fees or expenses are paid
●
Alignment of interest between management and investors
Greater incentives to maximize increases to shareholder value and rationalize
debt and equity capital raises
100% of MAIN's management efforts and activities are for the benefit of MAIN
investors
●
MAIN ST
MAIN targets total operating expenses (¹) as a percentage of
average assets (Operating Expense to Assets Ratio) at or less
than 2%
●
CAPITAL CORPORATION
●
Long-term actual results have significantly outperformed target
An industry leading position in cost efficiency, with an Operating Expense to
Assets Ratio of 1.4% (²)
Significant portion of total operating expenses (¹) are non-cash
Non-cash compensation expenses(³) were 24.9% (²) of total operating
expenses (1)
(1) Total expenses excluding interest expense
(2) Based upon the trailing twelve month period ended March 31, 2023
(3) See non-GAAP information disclosures on page 37 and calculation of non-cash compensation expenses on page 39 of this presentation
Main Street Capital Corporation
NYSE: MAIN
Operating Expense to Assets Ratio of 1.1%(²) excluding non-cash
compensation expenses (³)
mainstcapital.com
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