Capital solutions built on trusted relationships. Our firm was established to provide investors with access to middle market credit. By design—and to set ourselves apart— we are an independent manager. From early in this endeavor, we enjoyed a distinct advantage in that our senior professionals brought tremendous depth of experience in middle market credit. Prior to PennantPark, our senior team members worked alongside one another within various predecessor firms dating back to the mid-1990s. Now, over 14 years since PennantPark’s founding, we continue to benefit from our senior leadership team’s extensive experience and long history of collaboration across multiple economic and credit cycles Fast Facts We focus on companies that are owned by established middle market private equity sponsors with a track record of supporting their portfolio companies. This practice is designed to enhance alignment of interests between lenders and equity investors. Founded in 2007, PennantPark is headquartered in New York with offices in Chicago, Houston, and Los Angeles. Our core focus is lending to middle market private equity sponsor-backed companies with $10 – $50 million of EBITDA. Since inception, PennantPark has invested over $13.8 billion. Senior investment professionals have an average of 24 years of experience. PennantPark is fortunate to have a highly diversified investor base. Our History Now, 14 years into executing its core strategy, PennantPark continues to enjoy a reputation for excellence in middle market lending. 2021 PennantPark completes its second CLO In January 2021, PennantPark completes its second CLO. The $300.7 million vehicle is backed by a diversified portfolio of middle market loans, and has a three-year re-investment period and an 11-year final maturity. 2020 PennantPark closes its fourth vehicle in the Opportunistic Credit Strategy In December 2020, PennantPark successfully closes PennantPark Credit Opportunities Fund III (“PCOF III”), marking another meaningful step forward in the growth of the firm’s middle market private credit investment business. PennantPark forms partnership with Pantheon In August 2020, PennantPark forms a joint venture with Pantheon, a leading global alternative private markets investor. The new joint venture, PennantPark Senior Loan Fund, LLC (“PSLF”), expands our private credit platform and affirms our long-term strategy of providing an array of investment solutions to institutional investors, amid a period of pervasive uncertainty in global markets. 2019 PennantPark issues inaugural CLO In September 2019, PennantPark issues its inaugural CLO, PennantPark CLO I. The $301.4 million vehicle is backed by a diversified portfolio of middle market loans, and has a four-year re-investment period. PennantPark launches PennantPark Senior Credit Funds (“PSCF” & “PSCF-Lev”) The new PennantPark Senior Credit Funds (levered and unlevered) are our third and fourth vehicles following our Senior Debt strategy. The funds focus principally on directly originated, sponsor-backed, senior secured loans at the top of the capital structure. PennantPark closes a Separately Managed Account (“SMA”) in the Opportunistic Credit strategy This is our fifth vehicle in the Opportunistic Credit Strategy, and launches on behalf of a top-10 global alternative asset manager with $190 million of investable capital. 2018 PennantPark launches PennantPark Credit Opportunities Fund III (“PCOF III”) PCOF III is our fourth vehicle in the Opportunistic Credit strategy, designed for private and institutional investors seeking to leverage our unique expertise, tested leadership, and proven track record in middle market credit. PennantPark further expands its senior debt capabilities PFLT and Kemper doubles the size of their joint venture, PSSL, bringing the vehicle’s total buying power to $630mm. 2017 PennantPark expands its senior debt capabilities Although we have been investing in senior debt for more than a decade, we have purposefully grown our senior debt capabilities over the past few years by expanding PFLT. In Q2, PFLT formes a joint venture with Kemper Corporation, PSSL, which adds $300mm of buying power to PFLT. In Q4, PFLT raises an additional $97mm in equity capital and issues $139mm in 3.83% bonds due in 2023 in Israel. Additionally, PFLT becomes dual listed on the Tel Aviv Stock Exchange. 2015 PennantPark opens three new offices in the United States to bolster origination capabilities Our team grows to 37 employees as our offices expand from NYC to include Chicago, Houston, and Los Angeles. 2014 In cooperation with existing investors, PCOF is restructured into PCOF II We convert PCOF from a short-term hedge fund structure to a long-term drawdown structure. 2013 PennantPark achieves landmark growth By Q2 of 2013, PennantPark has deployed $2.5bn of capital to 270 companies. Our ranks grow to 26 staff members. 2012 PennantPark launches its first private investment vehicle, the PennantPark Credit Opportunities Fund (“PCOF”) In 2012, we establish the PennantPark Credit Opportunities Fund, a vehicle designed for private and institutional investors seeking to leverage our unique expertise, tested leadership, and proven track record in middle market direct lending. 2011 PennantPark’s second investment vehicle, PennantPark Floating Rate Ltd (PFLT) completes its IPO We launch PFLT to provide investors with expanded access to first lien debt. 2009 PennantPark doubles AUM in the aftermath of the financial crisis In the months leading up to the global financial crisis, we remain true to our rigorous underwriting strategy, with emphasis on strong financial covenants and low leverage. This cautious approach culminates in a self-imposed hold on new investments from September ’08 through March ’09. We succeed in limiting losses by excellent underwriting prior to September ’08. After September ’08, we spend six months paying careful attention to the effects of the recession on our portfolio companies. By March of ’09, we are confident in our assessment of the recession’s effects, and we resume investing, doubling our AUM by Q4 of ’09. 2007 PennantPark Investment Corporation (PNNT) raises $294mm in its IPO PNNT is our first investment vehicle. PennantPark opens for business proclaiming a fresh and focused approach to middle market direct lending PennantPark is founded in 2007 by Art Penn and a close-knit team of middle market direct lending experts. Our vision for founding PennantPark is to create an independent credit provider, free of conflicts and affiliations, which could become a trusted partner for middle market private equity sponsors and companies. 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