Main Street Investor Presentation
MAIN is a Principal Investor in Private Debt and Equity
Focus on LMM equity
investments and
efficient operating
structure differentiates
MAIN and provides
opportunity for
significant total returns
for our shareholders
MAINST
CAPITAL CORPORATION
Equity investments in LMM portfolio provide both the
opportunity to grow net asset value (NAV) per share and
generate recurring dividend income and periodic realized gains
to support MAIN's dividend growth
"
"
NAV growth of $8.00 per share (or 62%) since 2007
Cumulative net realized gains from LMM portfolio investments of
$117.1 million ($20.4 million net for the total investment portfolio)
since the Initial Public Offering
Approximately $2.37 per share in cumulative, pre-tax net
unrealized appreciation on LMM portfolio at June 30, 2020
• Realized gains provide taxable income in excess of net
investment income and help fund MAIN's dividends
Internally managed operating structure provides significant
operating leverage
Favorable ratio of total operating expenses, excluding interest
expense, to average total assets of approximately 1.2% (1)
Greater portion of gross portfolio returns are delivered to our
shareholders
Significant positive impact to Net Investment Income
Alignment of interests between MAIN management and our
shareholders
(1) Based upon the trailing twelve months ended June 30, 2020
Main Street Capital Corporation
NYSE: MAIN
mainstcapital.com
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