Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 INVESTCORP CREDIT MANAGEMENT BDC, INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 46-2883380 (State or other Jurisdiction of Incorporation or Organiza ...

Financial Data and Key Metrics Changes - For the quarter ended December 31, 2019, the net investment income was $3.8 million or $0.27 per share, with a fair value of the portfolio at $305 million compared to $302 million at September 30 [23][24] - The portfolio's net increase in operations for the quarter was approximately $3 million, with new investments yielding an average of 10.33% [23] - The weighted average yield of the portfolio was 10.41%, a decrease of 3 basis points from September 30 [24] Business Line Data and Key Metrics Changes - The company invested in six portfolio companies during the quarter, including four new investments, with all investors being first lien [11] - The average portfolio investment was approximately $8.7 million, with the largest investment being $60.3 million in 1888 Industrial Services [24] Market Data and Key Metrics Changes - As of December 31, the largest industry concentration was in professional services at 11.7%, followed by energy, equipment and services at 11.6% [21] - The portfolio companies spanned 22 GICS industries, with a total of 35 portfolio companies as of quarter end [22][24] Company Strategy and Development Direction - The company is focused on repositioning and diversifying the portfolio, aiming for a better balance across industries and increasing the number of new portfolio companies [7][8] - The company plans to maintain a leverage target in the range of 1.0 to 1.5 times, currently at 1.23 times as of December 31 [35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the restructuring of Fusion Connect and the potential for future returns, emphasizing the importance of the company's strategic decisions [28][29] - The company is cautious about stretching its attachment point too deep into the capital structure, focusing on first lien loans to target higher returns [33] Other Important Information - The company declared a distribution of $0.25 per share for the quarter ended March 31, 2020, maintaining the dividend level since March 2017 [37] - The company has been actively purchasing its shares, with 90,459 shares bought through December 31 under a 10b5 program [38] Q&A Session Summary Question: About the new investment in Horus - Management highlighted the opportunity in the Permian Basin, noting its prolific drilling activity and the support from Instar's equity investment [41] Question: Context on deal sourcing for investments - Management confirmed increased activity from club members and improved relationships with smaller banks, leading to more deal flow [42][43] Question: Credit facility and debt capacity - Management is actively discussing options for the credit facility maturing in December and expects to announce new financing soon [48][49] Question: Industry concentrations and management - Management is comfortable with current industry exposure, emphasizing the defensible niche of their investments [56][58] Question: Outlook for PIK income - Management expects PIK income to remain stable in the near term, driven by specific portfolio companies [60][61] Question: Incremental leverage plans - Management anticipates gradual increases in leverage, aiming to maintain a range of 1.0 to 1.5 times [62] Question: Fusion Connect's business plan post-bankruptcy - Management indicated that it would take 6 to 12 months to see momentum from Fusion's restructuring, with a longer timeframe for ultimate value realization [72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER: 814-01054 INVESTCORP CREDIT MANAGEMENT BDC, INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 46-2883380 (State or other Jurisdiction of Incorp ...

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) Q1 2020 Earnings Conference Call November 13, 2019 1:00 PM ET Company Participants Michael Mauer - Chairman & CEO Rocco DelGuercio - CFO Christopher Jansen - Co-Chief Investment Officer Conference Call Participants Paul Johnson - KBW Robert Dodd - Raymond James Christopher Nolan - Ladenburg Thalmann Operator Welcome to Investcorp Credit Management BDC Earnings Conference Call. Your speakers for today's call are Mike Mauer, Chris Jansen and Rocco DelGuerci ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Maryland 46-2883380 (State or other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 65 East 55th Street 15th Floor New York, NY 10022 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER: 814-01054 INVESTCORP CREDIT MANAGEMENT BDC, INC. (Exact name of registrant as specified in its charter) (State of Incorporation) (I.R.S. Employer Maryland 46-2883380 I ...

Investcorp Credit Management BDC, Inc (NASDAQ:ICMB) Q4 2019 Earnings Conference Call September 11, 2019 1:00 PM ET Company Participants Michael Mauer - Chairman & CEO Rocco DelGuercio - Chief Compliance Officer & CFO Christopher Jansen - President, Treasurer & Secretary Conference Call Participants Christopher Nolan - Ladenburg Thalmann Paul Johnson - KBW Robert Dodd - Raymond James & Associate Operator Welcome to Investcorp Credit Management BDC, Inc Fourth Quarter Earnings Conference Call. Your speakers f ...

CM Finance, Inc. (CMFN) Q3 2019 Results Conference Call May 8, 2019 1:00 PM ET Company Participants Michael Mauer - Chairman and CEO Rocco DelGuercio - Chief Compliance Officer and CFO Christopher Jansen - President, Treasurer and Secretary Conference Call Participants Robert Dodd - Raymond James & Associate Christopher Nolan - Ladenburg Thalmann Paul Johnson - KBW Operator Welcome to CM Finance’s Earnings Release Call Third Quarter Ended March 31, 2019. Your speakers for today’s call are Mike Mauer, Chris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER: 814-01054 CM FINANCE INC (Exact Name of Registrant as Specified in Its Charter) Maryland 46-2883380 (State or other Jurisdiction of Incorporation or Organization) (I ...

CM Finance, Inc. (CMFN) Q2 2019 Earnings Conference Call February 7, 2019 1:00 PM ET Company Participants Michael Mauer - Chairman and CEO Rocco DelGuercio - Chief Compliance Officer and CFO Christopher Jansen - President, Treasurer and Secretary Conference Call Participants Christopher Nolan - Ladenburg Thalmann & Co. Operator Good afternoon, ladies and gentlemen. And welcome to CM Finance’s Second Quarter Earnings Release Conference Call. Your speakers for today’s call are Mike Mauer, Chris Jansen and Ro ...