MidCap Financial Investment Corporation Reports Financial Results for the Quarter and Fiscal Year Ended December 31, 2023 Results for the Quarter and Fiscal Year Ended December 31, 2023 and Other Recent Highlights: New York, NY — February 26, 2024 — MidCap Financial Investment Corporation (NASDAQ: MFIC) or the "Company," today announced financial results for its quarter and fiscal year ended December 31, 2023. The Company's net investment income was $0.46 per share for the quarter ended December 31, 2023, c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-00646 MIDCAP FINANCIAL INVESTMENT CORPORATION (Exact name of Registrant as specified in its charter) | Maryland | | 52-2439556 | | --- | --- | --- | | (State or other jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-00646 MIDCAP FINANCIAL INVESTMENT CORPORATION (Exact name of Registrant as specified in its charter) Maryland 52-2439556 (State or other jurisdiction of incorporation o ...

Financial Data and Key Metrics Changes - Net investment income per share for the June quarter was $0.44, exceeding the current dividend of $0.38, benefiting from higher base rates on floating rate assets [7][16] - NAV per share at the end of June was $15.20, an increase of $0.02 from the end of March, reflecting earnings in excess of dividends and stock buybacks [7][39] - Total expenses for the quarter were $39.8 million, up $1.5 million compared to the last quarter, primarily due to higher interest expense [17] Business Line Data and Key Metrics Changes - Gross funding for the corporate lending portfolio totaled $73 million, with sales and repayments amounting to $58 million, resulting in net fundings of $22 million for the quarter [11] - The weighted average yield of the corporate lending portfolio was 11.7%, up from 11.3% in the previous quarter, driven by an increase in base rates [35] - The weighted average net leverage of the companies in the corporate lending portfolio remained at 5.45 times, unchanged from the prior quarter [36] Market Data and Key Metrics Changes - The corporate lending and other portfolio, which constitutes 92% of the total portfolio, primarily consists of first lien loans, indicating a well-diversified risk profile [30] - The market environment showed a slowdown in new issue volumes driven by slower M&A activity, although financial sponsors are still seeking financing solutions in the private credit market [31] Company Strategy and Development Direction - The company is focused on reducing its investment in Merx, with a strategy to utilize aircraft sales and servicing income to pay down debt [8] - The management emphasized the importance of maintaining a conservative leverage ratio and a diversified portfolio to navigate through economic cycles [12][34] Management's Comments on Operating Environment and Future Outlook - Management noted stable credit quality in the portfolio, with no significant signs of credit weakness, although there is some deceleration in top-line growth [13] - The company is closely monitoring interest coverage ratios, which have decreased slightly, but management believes the situation is manageable due to strong liquidity among borrowers [14] Other Important Information - The Board of Directors declared a dividend of $0.38 per share, representing an annualized yield of 10% on NAV, with discussions ongoing regarding potential dividend increases [32] - The company repurchased approximately $2.3 million of stock during the quarter, contributing to NAV per share accretion [18] Q&A Session Summary Question: What is the current activity level with equity sponsors? - Management observed a modest uptick in activity from LBO sponsors, indicating a greater willingness to engage despite seasonal slowdowns [64] Question: How is the portfolio yield expected to change? - The yield is expected to expand, with a mix of base rate increases and potential tightening spreads as M&A activity picks up [44][66] Question: What is the outlook for companies with below 1X interest coverage? - Management indicated that some sponsors are injecting equity to cover interest coverage issues, and they are in active dialogue with those companies [69] Question: Is there a potential for a special dividend? - The Board is evaluating options for returning excess income to shareholders, including the possibility of a special dividend, but no definitive decision has been made [72] Question: How does the company view the current lending environment? - Management believes that the current environment presents opportunities for private credit to take market share from traditional banks, especially as capital requirements for banks increase [67]

Repurchased 198,084 shares of common stock at a weighted average price per share of $11.60, inclusive of commissions, for an aggregate cost of $2.3 million during the quarter. 1. Based on corporate lending portfolio. 2. Gross fundings for corporate lending includes $0.1m of equity. 3. There were no fundings into Merx Aviation during the quarter. 4. The Company's net leverage ratio is defined as debt outstanding plus payable for investments purchased, less receivable for investments sold, less cash and cash ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-00646 MIDCAP FINANCIAL INVESTMENT CORPORATION (Exact name of Registrant as specified in its charter) Maryland 52-2439556 (State or other jurisdiction of incorporation or org ...

MidCap Financial Investment Corporation (NASDAQ:MFIC) Q1 2023 Earnings Conference Call May 3, 2023 8:30 AM ET Company Participants Elizabeth Besen - Investor Relations Manager Tanner Powell - Chief Executive Officer Ted McNulty - President Greg Hunt - Chief Financial Officer Howard Widra - Executive Chairman Conference Call Participants Mark Hughes - Truist Securities Kenneth Lee - RBC Capital Markets Kyle Joseph - Jefferies Sean-Paul Adams - Raymond James Paul Johnson - KBW Melissa Wedel - JPMorgan Jordan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-00646 MIDCAP FINANCIAL INVESTMENT CORPORATION (Exact name of Registrant as specified in its charter) Maryland 52-2439556 Washington, D.C. 20549 (State or other jurisdiction of incorporation or or ...

MidCap Financial Investment Corporation (NASDAQ:MFIC) Q4 2022 Earnings Conference Call February 21, 2023 5:00 PM ET Company Participants Elizabeth Besen - Investor Relations Manager Tanner Powell - Chief Executive Officer Ted McNulty - President Greg Hunt - Chief Financial Officer Howard Widra - Executive Chairman Conference Call Participants Mark Hughes - Truist Robert Dodd - Raymond James Ryan Lynch - KBW Melissa Wedel - JPMorgan Operator Good afternoon, and welcome to the earnings conference call for the ...

MIDCAP FINANCIAL INVESTMENT CORPORATION Confidential and Proprietary - Not for distribution, in whole or in part, without the express written consent of Apollo Global Management, Inc. MidCap Financial Investment Corporation 2 We make forward-looking statements in this presentation and other filings we make with the Securities and Exchange Commission ("SEC") within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward ...