Company: PNNT
Filing Date: 2025-11-24
Form Type: 10-K
Source: 0001193125-25-293703
Chunk: 17

Company: PENNANTPARK INVESTMENT CORP
Filing Date: 2025-11-24
Form: 10-K
Item: Item 1C
Chunk 17
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 percentage of net assets (defined as total assets less indebtedness) rather than total assets, which include assets that have been funded with borrowed money. If the “Total estimated annual expenses” percentage were calculated instead as a percentage of total assets, our “Total estimated annual expenses” would be 11.2% of average total assets.  

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Example The following example illustrates the projected dollar amount of total cumulative expenses that you would pay on a $1,000 hypothetical investment in common shares, assuming (1) a 3.00% sales load (underwriting discounts and commissions) and offering expenses totaling 0.5%, (2) total net annual expenses of 26.5% of average net assets attributable to common shares as set forth in the table above (other than performance-based incentive fees) and (3) a 5% annual return.  

       You would pay the following expenses on a $1,000 common stock investment
        
       1 Years

       3 Years

       5 Years

       10 Years

       Assuming a 5% annual return (assumes no return from net realized capital gains or net

          unrealized capital appreciation)
        
       $
       263

       $
       583

       $
       780

       $
       1,002

       Assuming a 5% annual return (assumes return only from realized capital gains and thus

          subject to the capital gains incentive fee)
        
       $
       271

       $
       595

       $
       789

       $
       1,000

       This example and the expenses in the table above should not be considered a representation of our future expenses. Actual expenses may be greater or less than those assumed. The table above is provided to assist you in understanding the various costs and expenses that an investor in our common stock will bear directly or indirectly. While the example assumes, as required by the SEC, a 5% annual return, our performance will vary and may result in a return greater or less than 5%. If we were to earn an annual return equal to or less than 5% from net investment income, the incentive fee under our Investment Management Agreement would not be earned or payable. If returns on our investments, including realized capital gains, result in an incentive fee, our expenses, and returns to investors, would be higher. The example assumes that all distributions are reinvested at NAV. Reinvestment of distributions under