MidCap Financial Investment

MFIC

Market cap $1.14B

MidCap Financial Investment Corporation ( MFIC ) Q3 2025 Earnings Call November 7, 2025 8:30 AM EST Company Participants Elizabeth Besen - Investor Relations Manager Tanner Powell - Chief Executive Officer Ted McNulty - President & Chief Investment Officer for Apollo Investment Management Kenneth Seifert - CFO & Treasurer Conference Call Participants Arren Cyganovich - Truist Securities, Inc., Research Division Melissa Wedel - JPMorgan Chase & Co, Research Division Paul Johnson - Keefe, Bruyette, & Woods, Inc., Research Division Kenneth Leon - CFRA Equity Research Presentation Operator Good morning, and welcome to the earnings conference call for the period ended September 30, 2025, for MidCap Financial Investment Corporation. I will now turn the call over to Elizabeth Besen, Investor Relations Manager for MidCap Financial Investment Corporation.

MidCap Financial Investment (MFIC) came out with quarterly earnings of $0.38 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.44 per share a year ago.

Results for the Quarter Ended September 30, 2025 and Other Recent Highlights: Net investment income per share for the quarter was $0.38, compared to $0.39 for the quarter ended June 30, 2025 Net asset value per share as of the end of the quarter was $14.66, compared to $14.75 as of June 30, 2025, a decrease of 0.6% New investment commitments made during the quarter totaled $138 million (1) Gross fundings, excluding revolver fundings, (2) totaled $142 million for the quarter The Company received a net repayment of approximately $97 million from Merx Aviation Finance, LLC during the September quarter reducing its exposure to approximately 3.3% of the total portfolio at fair value as of September 30, 2025 Net repayments, including revolvers (2) and Merx, totaled $148 million. Net repayments, excluding Merx, totaled $51 million for the quarter Net leverage (3) was 1.35x as of September 30, 2025 On November 4, 2025, the Company's Board of Directors (the “Board”) declared a dividend of $0.38 per share payable on December 23, 2025 to stockholders of record as of December 9, 2025 (4) On October 1, 2025, the Company amended and extended the senior secured, multi-currency, revolving credit facility (the “Facility” and, as amended, the “Amended Senior Secured Facility”) which included reducing the applicable margin by 10 basis points (5) On October 23, 2025, the Company upsized, extended the maturity, and reduced the pricing on MFIC Bethesda CLO 1 (the “Bethesda CLO 1 Upsize”) (6) The Board appointed Joseph Durkin as Chief Accounting Officer of the Company, effective as of the close of business on September 4, 2025 NEW YORK, Nov. 06, 2025 (GLOBE NEWSWIRE) -- MidCap Financial Investment Corporation (NASDAQ: MFIC) or the “Company,” today announced financial results for the quarter ended September 30, 2025.

NEW YORK, Oct. 06, 2025 (GLOBE NEWSWIRE) -- MidCap Financial Investment Corporation (NASDAQ: MFIC) (the “Company”) announced today that it will report results for the quarter ended September 30, 2025, after the closing of the Nasdaq Global Select Market on Thursday, November 6, 2025.

NEW YORK, Oct. 02, 2025 (GLOBE NEWSWIRE) -- MidCap Financial Investment Corporation (NASDAQ: MFIC) (the “Company”) announced today that it has amended and extended its senior secured, multi-currency, revolving credit facility (the “Facility”). Lender commitments under the Facility total $1.610 billion, a decrease of $50 million. The final maturity date under the Facility was extended from October 17, 2029, to October 1, 2030. The applicable margin under the Facility was reduced by 10 basis points to 177.5 basis points.1   The commitment fee was reduced by 5 basis points from 37.5 basis points to 32.5 basis points. The remaining material business terms of the Facility will remain substantially the same.

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MidCap Financial has transitioned to a high-quality, 1st lien, low-risk lending model, providing more stable and predictable returns for long-term investors. Management targets a $0.38 quarterly dividend, supported by Merx reinvestment and stable leverage, with a current yield of 12% at $13 per share. Risks remain with continued NAVI erosion, but the operational model is now solid, supporting ongoing dividend payments and potential equity growth toward $15.

MidCap Financial Investment Corporation (NASDAQ:MFIC ) Q2 2025 Earnings Call August 12, 2025 8:30 AM ET Company Participants Elizabeth Besen - Investor Relations Manager Kenneth Seifert - CFO & Treasurer Tanner Powell - Chief Executive Officer Ted McNulty - President & Chief Investment Officer for Apollo Investment Management Conference Call Participants Arren Saul Cyganovich - Truist Securities, Inc., Research Division Finian Patrick O'Shea - Wells Fargo Securities, LLC, Research Division Kenneth S. Lee - RBC Capital Markets, Research Division Melissa Wedel - JPMorgan Chase & Co, Research Division Robert James Dodd - Raymond James & Associates, Inc., Research Division Operator Good morning, and welcome to the earnings conference call for the period ending June 30, 2025 for MidCap Financial Investment Corporation.