Investor Presentaiton
Robust Earnings
Strong Shareholder Returns
Q4 2020 HIGHLIGHTS
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Net Investment Income ("NII") of $42.2M, up 5.1% Y-Y
Total Investment Income of $75.3M, up 6.7% Y-Y
NII per share of $0.37 and 116% distribution coverage
1YR/3Yr/5YR Total Shareholder Returns (¹): 12.0%/38.8%/69.7%
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ROAE (1,2): 13.9%
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ROAA (1,2): 6.6%
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Net Interest Margin ("NIM"): 10.3%
High-Yield Portfolio of Earning Assets
Industry-Leading Originations Platform
Strong Liquidity and Balance Sheet
Strong Capital Raising Position
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Total Debt Investments (at cost): $2.10B
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Total Investments (at cost): $2.32B
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Effective Yield: 13.3%
$11.1B in total debt commitments since inception
Cumulative Total Net Realized (Loss) since inception of ($79.7M) or
annualized loss rate of 4.5 basis points
Total debt & equity commitments: $150.8M
Debt & equity fundings: $129.8M
$673.3M available liquidity (subject to existing terms and covenants)
GAAP and regulatory leverage: 100.6% and 93.0% (3)
Price-to-NAV: 1.39x (4)
"ATM" Equity Distribution Agreement
Investment Grade Credit Ratings: DBRS: BBB | KBRA: BBB+
(1) Source: S&P CaplQ as of 12/31/20
(2) Based on NII, excludes realized and unrealized gains/losses
(3) Regulatory leverage is defined as GAAP leverage excluding SBA debentures
(4) As of February 19, 2021
Xercules.
CAPITAL
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