Investor Presentaiton

" ☐ Recent Developments On December 21, 2021, CION entered into a joint venture partnership with EagleTree Capital: The joint venture was initially capitalized through the contribution of nearly a $100 million portfolio of junior capital investments from CION and proprietary Firm-level cash from EagleTree, in exchange for an 85% and 15% ownership in the joint venture, respectively. The joint venture will jointly pursue higher yielding first lien debt, special situation, crossover, subordinated and other junior capital investment opportunities. The joint venture leverages the combined sourcing, execution and portfolio management capabilities of the respective platforms. On December 30, 2021, CION's shareholders approved a proposal to increase regulatory leverage by reducing CION's asset coverage ratio requirement from 200% to 150%. As a result, CION could unlock more than $350 million in incremental borrowing capacity to drive investment income growth. (1) On March 28, 2022, CION further amended its senior secured credit facility with JPMorgan to increase the aggregate amount available for borrowing by $100 million, from $575 million to $675 million, which increase bears interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.10% per year, and a LIBOR to SOFR credit spread adjustment of 0.15% On April 27, 2022, CION entered into a 5-year unsecured term loan agreement with More Provident Funds and Pension Ltd. under which CION borrowed $50 million, which bears interest at a floating rate equal to the three-month SOFR plus a credit spread of 3.50% per year and subject to a 1.0% SOFR floor. On June 24, 2022, CION's board of directors, including the independent directors, increased the amount of shares of CION's common stock that may be repurchased under CION's share repurchase policy by $10 million to up to an aggregate of $60 million. CION implemented its share repurchase policy pursuant to a 10b5-1 trading plan under which an independent broker dealer commenced repurchasing shares on the NYSE in August 2022. On August 9, 2022, CION declared, and on September 8, 2022 CION paid, a third quarter 2022 regular distribution of $0.31 per share, which is an increase of $0.03 per share, or 10.7%, from the regular distribution of $0.28 per share paid for the quarter ended June 30, 2022. CION INVESTMENTS (1) Assuming a rate of return on investment greater than the rate on additional liabilities. 13

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