Main Street Announces Preliminary Estimate of Third Quarter 2026 Operating Results

Announces Third Quarter 2026 Earnings Release and Conference Call Schedule

HOUSTON, Oct. 15, 2026 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street" or the "Company") is pleased to announce its preliminary operating results for the third quarter of 2026 and its third quarter 2026 earnings release and conference call schedule.

In commenting on the Company's preliminary operating results for the third quarter of 2026, Dwayne L. Hyzak, Main Street's Chief Executive Officer, stated, "We are pleased with our performance in the third quarter, which resulted in another quarter of strong operating results, including distributable net investment income before taxes that was in line with our expectations and prior guidance provided on our last conference call and an increase to our net asset value per share for the seventeenth consecutive quarter. We look forward to sharing the full details of our third quarter 2026 results in a few weeks."

Preliminary Estimates of Third Quarter 2026 Results

Main Street's preliminary estimate of third quarter 2026 net investment income ("NII") is $0.87 to $0.91 per share, distributable net investment income ("DNII")⁽¹⁾ is $0.94 to $0.98 per share and DNII before taxes⁽²⁾ is $0.96 to $1.00 per share.

Main Street's preliminary estimate of net asset value ("NAV") per share as of September 30, 2026 is $34.18 to $34.26, representing an increase of $0.26 to $0.34 per share, or 0.8% to 1.0%, from the NAV per share of $33.92 as of June 30, 2026, with this increase after the impact of the supplemental dividend paid in September 2026 of $0.30 per share. The estimated NAV per share increase is primarily due to the net fair value appreciation on the investment portfolio, including realized and unrealized activity, and the accretive impact of equity issuances, partially offset by the total dividends per share paid in the third quarter in excess of NII per share and the net tax provision. The net fair value appreciation on the investment portfolio is primarily the result of net fair value appreciation on the lower middle market ("LMM") investment portfolio, private loan investment portfolio and other portfolio investments, partially offset by net fair value depreciation on the middle market investment portfolio and fair value depreciation of the wholly-owned external investment manager.

As a result of Main Street's preliminary estimates of NII, net fair value appreciation and the net tax provision as noted above, Main Street estimates that it generated an annualized return on equity of over 14% for the third quarter.⁽³⁾

Main Street preliminarily estimates that investments on non-accrual status comprised 0.9% of the total investment portfolio at fair value and 3.5% at cost as of September 30, 2026.

Additionally, during the quarter, Main Street Mezzanine Fund, LP, an investment fund wholly-owned by the Company and licensed as a Small Business Investment Company ("SBIC") by the U.S. Small Business Administration ("SBA"), received approval from the SBA to increase the borrowing capacity of its SBIC debentures by $75.0 million to $250.0 million. Combined with Main Street's other wholly-owned investment fund licensed as an SBIC, Main Street Capital III, LP, this gives Main Street access to $425.0 million of the recently increased $475.0 million of regulatory maximum SBIC debenture borrowing capacity for affiliated SBIC funds. Main Street expects to maintain SBIC debentures under the SBIC program in the future, subject to periodic repayments and borrowings, in an amount up to the regulatory maximum amount.

Investment Portfolio Activity

The Company's third quarter 2026 operating activities include the following investment activity in the LMM and private loan investment strategies:

• $61.5 million in total LMM portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to a realized loss resulted in a net decrease of $19.4 million in the total cost basis of the LMM investment portfolio; and

• $162.0 million in total private loan portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to realized losses resulted in a net decrease of $1.8 million in the total cost basis of the private loan investment portfolio.

Third Quarter 2026 Earnings Release and Conference Call Schedule

Main Street will release its third quarter 2026 results on Thursday, November 5, 2026, after the financial markets close. In conjunction with the release, Main Street has scheduled a conference call, which will be broadcast live via phone and over the Internet, on Friday, November 6, 2026, at 10:00 a.m. Eastern time. Investors may participate either by phone or audio webcast.⁽⁴⁾

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.

Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC dba Main Street Capital Partners ("MSCP Adviser"), also maintains an asset management business through which it manages investments for external parties. MSCP Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

FORWARD-LOOKING STATEMENTS AND OTHER MATTERS

Main Street cautions that statements in this press release which are forward-looking and provide other than historical information, including but not limited to the preliminary estimates of third quarter 2026 financial information and results, are based on current conditions and information available to Main Street as of the date hereof. Although its management believes that the expectations reflected in those forward-looking statements are reasonable, Main Street can give no assurance that those expectations will prove to be correct. Those forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation, such factors described under the captions "Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors" included in Main Street's filings with the U.S. Securities and Exchange Commission (the "SEC") (www.sec.gov). Main Street undertakes no obligation to update the information contained herein to reflect subsequently occurring events or circumstances, except as required by applicable securities laws and regulations.

The preliminary estimates of third quarter 2026 financial information and results furnished above are based on Main Street management's preliminary determinations and current expectations, and such information is inherently uncertain. The preliminary estimates provided herein have been prepared by, and are the responsibility of, management and are subject to completion of Main Street's customary quarter-end closing and review procedures and third-party review, including the determination of the fair value of Main Street's portfolio investments. As a result, actual results could differ materially from the current preliminary estimates based on adjustments made during Main Street's quarter-end closing and review procedures and third-party review, and Main Street's reported information in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 may differ from this information, and any such differences may be material. In addition, the information furnished above does not include all of the information regarding Main Street's financial condition and results of operations for the quarter ended September 30, 2026 that may be important to readers. As a result, readers are cautioned not to place undue reliance on the information furnished in this press release and should view this information in the context of Main Street's full third quarter 2026 results when such results are disclosed by Main Street in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026. The information furnished in this press release is based on Main Street management's current expectations that involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such information.

Main Street has an existing effective Registration Statement on Form N-2 on file with the SEC relating to the offer and sale from time to time of its securities. Investors are advised to carefully consider the investment objective, risks and charges and expenses of Main Street before investing in any of Main Street's securities. The prospectus included in the Registration Statement on Form N-2, together with any related prospectus supplement, contain this and other information about Main Street and should be read carefully before investing. A copy of the prospectus and any related prospectus supplement may be obtained by contacting Main Street.

Endnotes

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, [email protected]
Ryan R. Nelson, CFO, [email protected]
713-350-6000

Dennard Lascar Investor Relations
Ken Dennard / [email protected]
Zach Vaughan / [email protected]
713-529-6600

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SOURCE Main Street Capital Corporation