Financial Data and Key Metrics Changes - In Q2 2024, the company generated net investment income of $0.51 per share, representing an annualized yield of over 12% [6] - The net asset value (NAV) as of June 30 was $16.95 per share, down $0.12 or approximately 0.7% from March 31 due to unrealized depreciation from some watch list names [6][21] - Total investment income for Q2 was $58 million, slightly down from the prior quarter due to a lower average portfolio balance and a decrease in prepayment and amendment fees [19] Business Line Data and Key Metrics Changes - The portfolio remains highly diversified with 180 investments in 126 companies across more than 25 industries, with 94% of investments in senior secured loans [12] - Nonaccruals increased to 1.8% of total investments at fair value, with expectations to drop below 1% in the upcoming quarter [22] Market Data and Key Metrics Changes - Sponsored direct lending volumes reached recent highs driven by strong refinancing, recapitalization, and M&A activity [11] - The core middle market continues to see comparatively less pressure than the large cap market, with significant year-over-year increases in originations [11] Company Strategy and Development Direction - The company has entered into a merger agreement to acquire Carlyle Secured Lending III, which is expected to provide strategic benefits such as increased scale and liquidity, cost reductions, and operational efficiencies [7][10] - The merger is structured to potentially be accretive to both NAV per share and net investment income per share, with a focus on maintaining a consistent investment strategy [15][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate a potentially volatile second half of the year, emphasizing the importance of maintaining excellent credit quality [29] - The company remains committed to delivering a resilient cash flow stream through consistent income and solid credit performance [25] Other Important Information - The Board of Directors declared a total third quarter dividend of $0.47 per share, reflecting a variable supplemental dividend policy [20] - Carlyle will cover certain merger-related expenses up to a total cap of $5 million, which is expected to mitigate potential dilution from merger expenses for shareholders [10][14] Q&A Session Summary Question: What is the expected timeline for the merger and the shareholder base profile of Carlyle III? - Management indicated that the merger requires a shareholder vote from CGBD shareholders, which may take time, while CSL III shareholders do not have a vote [26][27] Question: How might current market volatility impact the company's competitive positioning? - Management believes the company is well-positioned to leverage its capital in a more volatile environment, enhancing its value to borrowers [29] Question: How will the loans from CSL III be integrated into CGBD's balance sheet? - The substantial overlap between the two portfolios suggests that most loans will be held directly by the BDC, with some potentially allocated to the credit fund [35][36] Question: Will there be any changes to the fee structure post-merger? - Management does not anticipate changes to the fee structure, emphasizing that Carlyle is covering transaction expenses and avoiding dilution for CGBD shareholders [39]

| --- | --- | --- | |------------------------------------------------------------------------------|-------|-------| | | | | | | | | | Carlyle Secured Lending, Inc. Quarterly Earnings Presentation June 30, 2024 | | | 1 Disclaimer and Forward-Looking Statement This presentation (the "Presentation") has been prepared by Carlyle Secured Lending, Inc. (together with its consolidated subsidiaries, "we," "us," "our," "CGBD" or the "Company") (NASDAQ: CGBD) and may only be used for informational purposes only. Thi ...

Carlyle Secured Lending, Inc. (CGBD) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2%. A quarter ago, it was expected that this company would post earnings of $0.52 per share when it actually produced earnings of $0.54, delivering a surprise of 3.85%. Over the last four quarters, t ...

Exhibit 2.1 Execution Version AGREEMENT AND PLAN OF MERGER among CARLYLE SECURED LENDING III, CARLYLE SECURED LENDING, INC., BLUE FOX MERGER SUB, INC., CSL III ADVISOR, LLC (for the limited purposes set forth herein) and CARLYLE GLOBAL CREDIT INVESTMENT MANAGEMENT L.L.C. (for the limited purposes set forth herein) Dated as of August 2, 2024 | --- | --- | |----------------|-----------------------------------------------------------------------------------------| | | | | A RT I C L E I | T H E M E R G E R S | ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

1 This Presentation may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forwardlooking terminology such as "anticipates," "believes," "expects," "intends," "will," "should," "may," "plans," "continue," "believes," "seeks," "estimates," "would," "could," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions to identify forward-looking statements, although not all forw ...

Carlyle Secured Lending Inc. (NASDAQ:CGBD) Q1 2024 Earnings Conference Call May 8, 2024 11:00 AM ET Company Participants Daniel Hahn - Shareholder Relations Justin Plouffe - Chief Executive Officer Tom Hennigan - Chief Financial Officer Conference Call Participants Bryce Rowe - B. Riley Operator Thank you for standing by, and welcome to the Carlyle Secured Lending First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a que ...

Carlyle Secured Lending, Inc. (CGBD) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.85%. A quarter ago, it was expected that this company would post earnings of $0.52 per share when it actually produced earnings of $0.56, delivering a surprise of 7.69%.Over the last four quarters, ...

Date of Report (Date of earliest event reported): May 7, 2024 Securities registered pursuant to Section 12(b) of the Act: On May 7, 2024, the Company issued a press release, included herewith as Exhibit 99.1, announcing its first quarter ended 2024 financial results and the declaration of a second quarter 2024 base dividend of $0.40 per share, plus a supplemental dividend of $0.07 per share, payable on July 17, 2024 to stockholders of record as of June 28, 2024. The information disclosed under this Item 7.0 ...

FORM 10-Q o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period to Commission File No. 814-00995 Maryland 80-0789789 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) | --- | --- | --- | --- | |----------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------- ...