MSC Income Fund : 1st Quarter 2026 Summary Fact Sheet

Published: 2026-05-08 13:21:10 ET MSIF

Published on 05/08/2026 at 01:21 pm EDT

MSC Income Fund, Inc. (MSC Income or the Fund) is a publicly traded (NYSE: MSIF) business development company (BDC) that provides capital to private U.S. companies.

MSC Income has been externally managed by a wholly-owned subsidiary of Main Street Capital Corporation (NYSE: MAIN) (Main Street), a publicly traded BDC with over $9.2 billion(1) in capital under management, since October 2020. Main Street, through its wholly-owned subsidiary, was previously a sub-adviser to MSC Income since May 2012.

MSC Income has $1.6 billion(2) of capital.

Primarily to generate current income through debt investments and secondarily to generate current income and long-term capital appreciation through equity and equity-related investments

Attractive yield from secured debt investments (11.0%(3) weighted-average effective yield as of March 31, 2026)

Dividend income, fair value appreciation and periodic capital gains from equity investments

Primary investment focus on attractive Private Loan investment strategy focused on first lien debt investments in privately held companies typically owned by or being acquired by a private equity fund

Attractive existing lower middle market (LMM) investment portfolio

Maintains a diversified investment portfolio across multiple companies, industries, regions and end markets

Benefit from strong and growing "Main Street" brand recognition and strong transaction sourcing network

Management team has over 100 years of collective investment experience and long-term working relationships dating back over 20 years

Conservative, well capitalized balance sheet (net debt to NAV ratio(4) of 0.88)

Primarily focused on Private Loan investment strategy, which generally includes debt investments in privately held companies typically owned by or being acquired by a private equity fund

Primarily originated by Main Street directly or, to a lesser extent, through Main Street's strategic relationships with other investment funds on a collaborative basis through investments that are often referred to in the debt markets as "club deals" because of the small lender group size

Primarily first lien debt securities; limited equity investments

Generally companies with annual revenues between $25 million and $500 million and annual EBITDA between $7.5 million and $50 million

Maintains portfolio of debt and equity investments in LMM companies

Combination of secured debt investments and equity investments which provide meaningful equity participation

Low leverage and enterprise valuation multiples provide attractive risk-adjusted returns

Generally companies with annual revenues between $10 million and $150 million and annual EBITDA between $3 million and $20 million

In May 2026, MSC Income announced a change to its regular dividend payment frequency from quarterly to monthly beginning in July 2026

Declared third quarter 2026 regular monthly dividends of $0.33 per share for the quarter ($0.11 per share payable in each of July, August and September 2026)

Declared supplemental dividend of $0.03 per share to be paid in September 2026

MSC Income's total dividends payable in the third quarter of 2026, including the regular monthly dividends ($0.33 per share for the quarter) and the supplemental dividend ($0.03 per share), result in a current total dividend yield of 11.1%(1)

Currently expect to continue paying regular monthly dividends and supplemental dividends in the future, with such dividends based upon the level of MSC Income's operating performance and financial results, and subject to the approval of MSC Income's Board of Directors

Note: Refer to Endnotes on the last page of this presentation Page 2

Diversity adds structural protection to investment portfolio, revenue sources, income, cash flows and dividends

Investments in 143 portfolio companies(1) (80 Private Loan, 55 LMM(2) and 8 Middle Market(3))

Significant diversification

Average investment size of $9.0 million(1)(4)

Largest individual portfolio companies represent 3.6%(5) of total investment income and 3.6% of total portfolio fair value (with most investments representing less than 1.0% of income and fair value)

Investments on non-accrual status represent 1.1% of the total investment portfolio at fair value and 4.2% at cost

Total portfolio investments at fair value equal approximately 106% of cost basis

INDUSTRY(1)(4)

Note: Refer to Endnotes on the last page of this presentation Page 3

Total Investment Income ($ in millions)

Adjusted Net Investment Income (ANII)(1) ($ in millions)

Year over Year Change Year over Year Change

$135.0

$120.0

$105.0

$90.0

$75.0

$60.0

$45.0

$30.0

$15.0

$0.0

15%

27% 3%

3% 3% (2)

$139.2

$131.4

$134.8

$103.8

$90.1

$34.1

$70.0

$60.0

$50.0

$40.0

$30.0

$20.0

$10.0

$0.0

(1)% 5%

(3)% 20%

(1)% (2)

$64.5

$53.4

$55.5

$52.9

$53.9

$15.6

2021 2022 2023 2024 2025 YTD

2026

2021 2022 2023 2024 2025 YTD

(3) (3)

2026

Total Portfolio Investments(4) and ANII per share(1) ($ in millions, except per share data)

$1,600

$1,400

$1.42

$1.39

$1.39

$1.38

$1.60

$1.34

$1.32

$1.34

$1,369

$1.18

$1,335

$1,178

$1,077

$1,093

$1,028

$1,068

$826

$1.40

Portfolio Investments (4)

$1,200

$1,000

$800

$1.20

ANII Per Share(1)

$1.00

$0.80

$600 $0.60

$400 $0.40

$200 $0.20

$0

2019 2020 2021 2022 2023 2024 2025 March (5)

31, 2026

$0.00

(4)

(1)

Note: Refer to Endnotes on the last page of this presentation Page 4

Dwayne L. Hyzak, Chief Executive Officer & Chairman of the Board - [email protected]

Cory E. Gilbert, Chief Financial Officer - [email protected]

Ali Palomo, VP, Investor Relations, Asset Management Business - [email protected]

1300 Post Oak Blvd, 8th Floor Houston, Texas 77056

(713) 350-6000

https://www.mscincomefund.com

Includes total assets plus undrawn portion of debt capital and uncalled equity capital commitments as of March 31,

2026

Includes total assets plus undrawn portion of debt capital as of March 31, 2026

Weighted-average effective yield is calculated using the applicable interest rate as of March 31, 2026 and is weighted based upon the principal amount of each debt investment as of March 31, 2026; includes amortization of deferred debt origination fees and accretion of original issue discount, but excludes fees payable upon repayment of the debt investments and any debt investments on non-accrual status

Net debt in this ratio includes par value of total debt less cash and cash equivalents; See the MSC Income Investor Presentation, available on MSC Income's website, for Non-GAAP information disclosures (page 27)

As of and based upon the closing market price on May 6, 2026 of $13.00 per share and the annualized most recently declared third quarter 2026 monthly dividends (totaling $0.33 per share) and September 2026 supplemental dividend ($0.03 per share), for total dividends payable in the third quarter of $0.36 per share

Excluding MSC Income's Other Portfolio investments, as defined in the Fund's U.S. Securities and Exchange Commission (SEC) filings, which represent approximately 1% of the total investment portfolio at cost

Effective as of the listing of MSC Income's common shares on the NYSE on January 29, 2025, the Fund stopped making investments in new LMM portfolio companies; as such, the Fund expects the size of its LMM investment portfolio to decline in future periods as its existing LMM investments are repaid or sold

Middle Market investments as defined in the Fund's SEC filings; the Fund has generally stopped making new Middle Market investments and expects the size of its Middle Market investment portfolio to continue to decline in future periods as its existing Middle Market investments are repaid or sold

As of March 31, 2026; based on cost

Based upon total investment income for the trailing twelve-month period ended March 31, 2026

As of March 31, 2026; based upon portfolio company headquarters and excluding any MSC Income investments in portfolio companies headquartered outside of the U.S., which represent approximately 4% of the total investment portfolio at cost

See the MSC Income Investor Presentation, available on MSC Income's website, for the reconciliation of ANII to NII and ANII per share to NII per share (page 20) and for Non-GAAP information disclosures (page 27)

Reflects year-to-date March 31, 2026 performance compared with year-to-date March 31, 2025 performance

Three months ended March 31, 2026

Based on fair value at the end of the period

ANII per share for trailing twelve-month period ended March 31, 2025

For more detailed information regarding the financial and other information included herein, please refer to MSC Income's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 (the First Quarter 2026 Form 10-Q) filed with the SEC (www.sec.gov) and MSC Income's First Quarter 2026 Investor Presentation posted on the investor relations section of the Fund's website at https:// www.mscincomefund.com/investors/news/presentations. The financial and other information included herein should be read in conjunction with MSC Income's consolidated financial statements and the notes thereto and other information included in the First Quarter 2026 Form 10-Q.

Note: Refer to Endnotes on the last page of this presentation Page

Disclaimer

MSC Income Fund Inc. published this content on May 08, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 08, 2026 at 17:20 UTC.