MSIF

MSC Income Fund, Inc. ( MSIF ) Q3 2026 Earnings Call November 6, 2026 11:00 AM EST Company Participants Zach Vaughan Dwayne Hyzak - CEO & Chairman of the Board Nicholas Meserve - Managing Director David Magdol - President & Chief Investment Officer Cory Gilbert - CFO & Treasurer Conference Call Participants Kenneth Lee - RBC Capital Markets, Research Division Arren Cyganovich - Truist Securities, Inc., Research Division Christopher Muller - Citizens JMP Securities, LLC, Research Division Paul Johnson - Keefe, Bruyette, & Woods, Inc., Research Division Melissa Wedel - UBS Investment Bank, Research Division Mickey Schleien - Clear Street LLC Presentation Operator Greetings, and welcome to the MSC Income Fund Third Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Third Quarter 2026 Net Investment Income of $0.32 Per Share Third Quarter 2026 Adjusted Net Investment Income (1) of $0.34 Per Share Third Quarter 2026 Adjusted Net Investment Income Before Taxes (2) of $0.36 Per Share Net Asset Value of $16.56 Per Share HOUSTON, Nov. 5, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce its financial results for the third quarter ended September 30, 2026. Third Quarter 2026 Highlights Net investment income ("NII") of $14.4 million, or $0.32 per share Adjusted net investment income ("ANII")(1) of $15.3 million, or $0.34 per share ANII before taxes(2) of $16.3 million, or $0.36 per share Total investment income of $35.5 million Net increase in net assets resulting from operations of $18.1 million, or $0.40 per share Return on equity(3) of 9.7% on an annualized basis for the quarter and 12.3% for the trailing twelve-month period ended September 30, 2026 Net asset value of $16.56 per share as of September 30, 2026, representing an increase of $0.05 per share, or 0.3%, compared to $16.51 per share as of June 30, 2026 and $0.71 per share, or 4.5%, compared to $15.85 per share as of December 31, 2025 Declared regular monthly dividends totaling $0.33 per share for the fourth quarter of 2026, or $0.11 per share for each of October, November and December 2026 Declared a supplemental dividend of $0.03 per share, payable in December 2026, resulting in total dividends declared in the third quarter of 2026 of $0.36 per share Completed $61.4 million in total private loan portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to realized losses resulted in a net decrease of $10.5 million in the total cost basis of the private loan investment portfolio Realized a gain of $11.0 million on the exit of investments in Core Transformers, a private loan portfolio company Enhanced the Fund's capital structure by issuing $75.0 million in aggregate principal amount of 6.83% unsecured notes due September 30, 2029 (the "September 2029 Notes"), the first of two $75.0 million issuances under a $150.0 million private notes offering Entered into a share repurchase plan to facilitate the repurchase of up to $20.0 million of the Fund's shares for a period beginning in September 2026 and ending in February 2027, at times when the Fund's market price per share is trading below the most recently reported net asset value per share by certain pre-determined levels In commenting on the Fund's operating results for the third quarter of 2026, Dwayne L.

Regular Monthly Dividends of $0.11 Per Share for each of January, February and March 2027 Supplemental Dividend of $0.03 Per Share Payable in March 2027 HOUSTON, Nov. 5, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) (the "Fund") is pleased to announce that its Board of Directors declared regular monthly cash dividends of $0.11 per share for each of January, February and March 2027. These monthly dividends, which will be payable pursuant to the table below, total $0.33 per share for the first quarter of 2027.

Call Scheduled for 11:00 a.m. Eastern Time on Friday, November 6, 2026 HOUSTON, Oct. 16, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce that it will release its third quarter 2026 results on Thursday, November 5, 2026 after the financial markets close.

HOUSTON, Oct. 8, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce the following recent activity in its private loan portfolio. During the third quarter of 2026, MSC Income originated new or increased commitments in its private loan portfolio totaling $62.2 million and funded total investments across its private loan portfolio with a cost basis totaling $61.4 million.

Rate hikes are back on the table. For most investors, that's bad news.

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of BBB- to MSC Income Fund, Inc.'s (NYSE: MSIF or “the company”) $150 million, 6.83% senior unsecured notes due September 2029. The rating Outlook is Stable. The proceeds will be used for repayment of existing secured indebtedness and for general corporate purposes. The notes will be issued in two separate closings. The initial issuance of $75.0 million of notes closed today, and MSIF will issue the remaining $75.0 million of notes in October 202.

HOUSTON, Sept. 1, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce the closing of a private notes offering totaling $150.0 million in aggregate principal amount (the "Notes").

MSCI Income Fund (MSIF) remains an attractive, high-quality BDC trading at a deep 24% discount to NAV despite strong management and shareholder alignment. Recent NAV increased from $15.87 to $16.51, aided by no ex-dividend date, with continued positive NAV trends and potential for further dividend growth as leverage increases. MSIF's monthly dividend yield is 10.58%, supported by a first-lien heavy, floating-rate portfolio and active share repurchases, enhancing NAV accretion.

Second Quarter 2026 Net Investment Income of $0.26 Per Share Second Quarter 2026 Adjusted Net Investment Income (1) of $0.33 Per Share Second Quarter 2026 Adjusted Net Investment Income Before Taxes (2) of $0.36 Per Share Net Asset Value of $16.51 Per Share HOUSTON, Aug. 6, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce its financial results for the second quarter ended June 30, 2026. Second Quarter 2026 Highlights Net investment income ("NII") of $12.0 million, or $0.26 per share Adjusted net investment income ("ANII")(1) of $14.9 million, or $0.33 per share ANII before taxes(2) of $16.3 million, or $0.36 per share Total investment income of $35.7 million Net increase in net assets resulting from operations of $29.3 million, or $0.65 per share Return on equity(4) of 15.9% on an annualized basis for the quarter and 13.5% for the trailing twelve-month period ended June 30, 2026 Net asset value of $16.51 per share as of June 30, 2026, representing an increase of $0.64 per share, or 4.0%, compared to $15.87 per share as of March 31, 2026 and $0.66 per share, or 4.2%, compared to $15.85 per share as of December 31, 2025 Announced a change to the Fund's regular dividend payment frequency from quarterly to monthly, beginning in July 2026, and declared regular monthly dividends totaling $0.33 per share for the third quarter of 2026, or $0.11 per share for each of July, August and September 2026 Declared a supplemental dividend of $0.03 per share, payable in September 2026, resulting in total dividends declared in the second quarter of 2026 of $0.36 per share Completed $62.2 million in total private loan portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to a realized loss resulted in a net increase of $9.7 million in the total cost basis of the private loan investment portfolio Completed $13.1 million in total lower middle market ("LMM") portfolio follow-on investments, which after aggregate repayments and return of invested equity capital resulted in a net decrease of $2.2 million in the total cost basis of the LMM investment portfolio Realized a gain of $11.6 million on the exit of investments in Centre Technologies Holdings, LLC, a LMM portfolio company In commenting on the Fund's operating results for the second quarter of 2026, Dwayne L.