Main Street Capital Fixed Income Presentation Deck
LMM Investment Portfolio
LMM investment
portfolio consists of a
diversified mix of
secured debt and lower
cost basis equity
investments
79 portfolio companies / $2.2 billion in fair value
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52% of total investment portfolio at fair value
Debt yielding 12.9% (¹) (72% of LMM portfolio at cost)
99% of debt investments have first lien position
70% of debt investments earn fixed-rate interest
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Equity ownership in all LMM portfolio companies representing
40% average ownership position (28% of LMM portfolio at cost)
Lower entry multiple valuations, lower cost basis
Opportunity for dividend income, fair value appreciation and
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MAIN ST
CAPITAL CORPORATION
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Over 850 basis point net cash interest margin vs "matched" fixed
interest rate on SBIC debentures and Notes Payable
periodic capital gains
59% of LMM companies (2) with direct equity investment are
currently paying dividends
Fair value appreciation of equity investments supports Net Asset
Value per share growth
$449.3 million, or $5.54 per share, of cumulative pre-tax net
unrealized appreciation at June 30, 2023
(1)
(2) Includes the LMM companies that (a) MAIN has a direct equity investment and (b) are flow-through entities for tax purposes; based upon dividend income for the trailing twelve
month period ended June 30, 2023
Main Street Capital Corporation
Weighted-average effective yield is calculated using the applicable interest rate as of June 30, 2023 and includes amortization of deferred debt origination fees and accretion of
original issue discount, but excludes fees payable upon repayment of the debt instruments and any debt investments on non-accrual status
NYSE: MAIN
mainstcapital.com
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