Main Street Capital Investor Day Presentation Deck
Asset Management Business
MAIN (1) is focused on
growing its asset
management business
(AMB)
MAIN'S AMB represents
additional income
diversification and the
opportunity for greater
shareholder returns
MAIN's internally
managed operating
structure provides
MAIN's shareholders the
benefits of this AMB
Growth of the AMB is
increasingly driven by
MAIN's Private Loan (PL)
investment strategy
MAIN (¹) is the investment adviser to and administrator of MSC
Income Fund, Inc., a non-listed BDC with investment strategies
consistent with MAIN
MAIN (1) is the investment advisor to and administrator of MS
Private Loan Fund I, LP, a private debt fund with investments
solely focused on MAIN's Private Loan (PL) investment strategy
MAIN (¹) manages a separately managed account solely focused
on MAIN's PL investment strategy
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Benefits to MAIN
Highly predictable source of recurring base management fee income
No significant increases to MAIN's operating costs to provide services (leverage
fixed costs and utilize existing infrastructure and investment capabilities)
●
• Opportunity to capture upside of positive investment performance through
incentive fees
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●
MAIN ST
Monetizing the value of MAIN franchise
Significant positive impact on MAIN's financial results
CAPITAL CORPORATION
-
$8.1 million contribution to net investment income in the first quarter of
2023 (2)
$22.3 million contribution to net investment income in the year ended
December 31, 2022(2)
$103.2 million of cumulative unrealized appreciation as of March 31, 2023
NYSE: MAIN
(1) Through MSC Adviser I, LLC (the External Investment Manager), MAIN's wholly owned unconsolidated registered investment adviser subsidiary
(2) Contribution to Net Investment Income includes (a) dividend income received by MAIN from the External Investment Manager and (b) operating expenses allocated from MAIN
to the External Investment Manager
Main Street Capital Corporation
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