CION Investment Corporation · NYSE:CION

CION Investment — Q3 2022 Earnings Presentation

14 slides from CION Investment's earnings presentation, Nov 10, 2022

  1. Slide 1: CION Investment Corporation Third Quarter 2022 Earnings Presentation

    CION Investment Corporation Third Quarter 2022 Earnings Presentation

  2. Slide 2: Disclosures and Forward-Looking Statements

    Disclosures and Forward-Looking Statements The information contained in this earnings presentation should be viewed in conjunction with the earnings conference call of CION Investment Corporation (NYSE: CION) (“CION” or the “Company”) held on November 10, 2022 as well as the Company’s Quarterly Repo

  3. Slide 3: Third Quarter and Other Highlights – Ended September 30, 2022

    Third Quarter and Other Highlights – Ended September 30, 2022 The Company completed a 2-to-1 reverse stock split effective September 21, 2021. Accordingly, share and per share amounts in this presentation have been retroactively adjusted to reflect the 2-to-1 reverse stock split.  Net investment in

  4. Slide 4: Selected Financial Highlights

    Selected Financial Highlights (1) The discussion of the investment portfolio excludes short term investments. (2) Total debt outstanding excludes netting of debt issuance costs. Please refer to page 12 for debt net of issuance costs. (3) Includes a special distribution of $0.20 per share during the

  5. Slide 5: Investment Activity

    Investment Activity  New investment commitments for the quarter were $134 million, of which $127 million were funded and $7 million were unfunded.  New investment commitments were made across 6 new portfolio companies and 5 existing portfolio companies.  Fundings of previously unfunded commitment

  6. Slide 6: Portfolio Asset Composition

    Portfolio Asset Composition End of Period Investments New Investment Commitments (in millions) (in millions) $1,797 $1,791 $353 4% 2% $1,740 6% 2% 4% 2% $1,666 6% 2% 1% 0%* 4% 2% $1,630 0%* 2% 0%* 5% 0%* 6% 2% 0%* 6% 1% $184 1% $179 1% 2% 90% 93% 92% $155 92% 1% 88% 88% $134 2% 14% 98% 98% 99% 84% Q

  7. Slide 7: Credit Quality of Investments

    Credit Quality of Investments INTERNAL INVESTMENT RISK RATINGS(1) Q3 2022 NON-ACCRUAL %(1) (% of Total Portfolio, Fair Value) Higher Credit Quality 1.67% 0.42% Lower Credit Quality Amortized Cost Fair Value * - Less than 1%. (1) The discussion of the investment portfolio excludes short term investme

  8. Slide 8: Portfolio Summary

    Portfolio Summary PORTFOLIO BY SECURITY TYPE(4) 92% Senior 0.1% 1.6% 6.3% Secured Debt 2.2% Investments  First Lien Debt (89.8%)  Second Lien Debt (2.2%)  Equity (6.3%)  Collateralized Securities & Structured Products: Equity (0.1%) 89.8%  Unsecured Debt (1.6%) PORTFOLIO BY INTEREST RATE TYPE(4

  9. Slide 9: Quarterly Operating Results

    Quarterly Operating Results 9

  10. Slide 10: Quarterly Balance Sheet

    Quarterly Balance Sheet $15.89 $16.20 $16.34 $16.52 1.96 2.05 2.12 2.417 Net Asset Value per share Asset coverage ratio”) Assets ! Investments, at fair value H $1,807,048} $1,805,452 $1,755,297 $1,754,039 $1,746,298 Cash i 43,661; 42,542 17,500 3,774 2,159 Interest receivable on investments i 26,976

  11. Slide 11: Q3 2022 Net Asset Value Bridge

    Q3 2022 Net Asset Value Bridge Per Share Data * * 11

  12. Slide 12: Debt Summary

    Debt Summary $72 million in available capacity within existing senior secured facilities DEBT SCHEDULE DEBT MATURITIES ($ in millions) ($ in millions) Total Principal Commitment Amount Interest Maturity Amount Outstanding Rate Date JPM Credit Facility $675 $610 L + 3.10%(2) 5/15/2024 UBS Facility 15

  13. Slide 13: Distribution Per Share and Distribution Coverage

    Distribution Per Share and Distribution Coverage 1 13

  14. Slide 14: Slide 14

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