Company: PNNT
Filing Date: 2025-12-17
Form Type: 40-APP
Source: 0001193125-25-322955
Chunk: 8

Company: PENNANTPARK INVESTMENT CORP
Filing Date: 2025-12-17
Form: 40-APP
Chunk 8
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 as “junk” bonds). PEIF has a six-member board (the “ PEIF Board”), of which four are not “interested” persons of the Fund within the meaning of Section 2(a)(19) of the 1940 Act. E. The Existing Wholly-Owned Subsidiaries Each of the Existing Wholly-Owned Subsidiaries is a direct or indirect wholly-owned subsidiary of an Existing Regulated Fund whose business purpose is to hold one or more investments on behalf of such Existing Regulated Fund. Each Existing Wholly-Owned Subsidiary is a separate and distinct legal entity. The Existing Wholly-Owned Subsidiaries have investment objectives and strategies that are substantially the same as, or a subset of, those of the applicable Existing Regulated Fund. A list of the Existing Wholly-Owned Subsidiaries is included on Schedule A hereto. F. The Existing Joint Ventures Each of the Existing Joint Ventures is an unconsolidated joint venture subsidiary of a Regulated Fund, in which all portfolio decisions, and generally all other material decisions in respect of such joint venture, must be approved by a board or committee, as applicable, consisting of representatives of the Regulated Fund and the unaffiliated joint venture partner (with approval from a representative of each required). Each Existing Joint Venture is a separate and distinct legal entity. The Existing Joint Ventures have investment objectives and strategies that are substantially the same as, or a subset of, those of the applicable Existing Regulated Fund. A list of the Existing Joint Ventures is included on Schedule B hereto.

| 9 | The Board of each Future Regulated Fund will consist of a majority of members who are not “interested 
 persons” of such Future Regulated Fund within the meaning of Section 2(a)(19) of the 1940 Act.        |

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G. The Existing Affiliated Funds The Existing Affiliated Funds are investment funds each of whose investment adviser and investment sub-adviser(if any) is an Adviser and each of which would be an investment company but for Section 3(c)(7) of the 1940 Act. A list of the Existing Affiliated Funds is included on Schedule C hereto. 10 H. PennantPark PennantPark serves as the investment adviser of the Existing Regulated Funds and the Existing Affiliated Funds, as applicable, and either they or another Adviser will serve as the investment adviser to any Future Regulated Fund. PennantPark is a Delaware limited liability company and is a registered