Company: PNNT
Filing Date: 2025-11-24
Form Type: 10-K
Source: 0001193125-25-293703
Chunk: 54

Company: PENNANTPARK INVESTMENT CORP
Filing Date: 2025-11-24
Form: 10-K
Item: Item 1C
Chunk 54
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 September 30, 2025, we do not maintain effective internal control over financial reporting due to the material weakness described below. A material weakness was identified in the operations of control related to the Company's quarterly review of equity investment valuations with respect to the allocation of value of the portfolio company to the Company’s holdings. Although this material weakness did not result in any material misstatement of our consolidated financial statements for the periods presented, there is a possibility they could lead to a material misstatement of account balances or disclosures. Accordingly, management has concluded that this control deficiency constitutes a material weakness.Management believes that the financial statements included in this Annual Report on Form 10-K present fairly, in all material respects, the Company’s financial position, results of its operations, changes in net assets and cash flows for the periods presented. We believe that the audited consolidated financial statements included in this Annual Report on Form 10-K are accurate. We have begun the process of, and we are focused on, further enhancing effective internal control measures to improve our internal control over financial reporting and remediate this material weakness. Our internal control remediation efforts include the following: •Enhance existing review controls of equity investments related to the allocation of the portfolio company’s enterprise value to the Company’s holdings to ensure allocations are consistent with the relevant and respective source document; and •Enhancing policies and procedures to demonstrate commitment to improving our overall control environment.  We believe our planned actions to enhance our processes and controls will address the material weakness, but these actions are subject to ongoing management evaluation, and we will need a period of execution to demonstrate remediation. We are committed to the continuous improvement of our internal control over financial reporting and will continue to diligently review our internal control over financial reporting.PennantPark Investment's independent registered public accounting firm has issued an audit report on the effectiveness of our internal control over financialreporting as of September 30, 2025. This report appears on page  64.  

63

  Report of Independent Registered Public Accounting Firm  To the Stockholders and the Board of Directors of PennantPark Investment Corporation and Subsidiaries   Opinion on the Internal Control Over Financial ReportingWe have audited PennantPark Investment Corporation and Subsidiaries (the Company) internal control over financial reporting as of September 30, 2025, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013. In our opinion, because of the