Barings BDC, Inc.

Second Quarter 2022

Earnings Presentation

August 9, 2022

Disclaimers and Cautionary Notes Regarding Forward-Looking Statements

Cautionary Notice: Certain statements contained in this presentation are "forward-looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs, and which are subject to risks and uncertainties that may cause actual results or events to differ materially. Forward-looking statements include, but are not limited to, the ability of Barings LLC to manage Barings BDC, Inc. ("Barings BDC" or the "Company") and identify investment opportunities, and some of the factors that could cause actual results or events to differ materially from those identified in forward-looking statements are enumerated in the filings Barings BDC makes with the Securities and Exchange Commission (the "SEC"). These statements are subject to change at any time based upon economic, market or other conditions, including with respect to the impact of the COVID-19 pandemic and its effects on Barings BDC's and its portfolio companies' results of operations and financial condition, and may not be relied upon as investment advice or an indication of Barings BDC's investment intent. Important factors that could cause actual results to differ materially from plans, estimates or expectations included in this presentation include, among others, those risk factors detailed in Barings BDC's annual report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on February 23, 2022, in Barings BDC's most recently filed quarterly report on Form 10-Q, and as may be included from time to time in Barings BDC's other filings with the SEC, including current reports on Form 8-K. In addition, there is no assurance that Barings BDC or any of its affiliates will purchase additional shares of Barings BDC at any specific discount levels or in any specific amounts or that the market price of Barings BDC's shares, either absolutely or relative to net asset value, will increase as a result of any share repurchases, or that any repurchase plan will enhance stockholder value over the long term. The Company undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by law.

Other Important Information

Any forecasts in this document are based upon Barings' opinion of the market at the date of preparation and are subject to change without notice, dependent upon many factors. Any prediction, projection or forecast is not necessarily indicative of the future or likely performance. Investment involves risk. The value of any investments and any income generated may increase or decrease and are not guaranteed. Past performance is no indication of current or future performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Any investment results, portfolio compositions and/or examples set forth in this document are provided for illustrative purposes only and are not indicative of any future investment results, future portfolio composition or investments. The composition, size of, and risks associated with an investment may differ substantially from any examples set forth in this document. No representation is made that an investment will be profitable or will not incur losses. Where appropriate, changes in the currency exchange rates may affect the value of investments. Prospective investors should read the relevant offering documents for the details and specific risk factors of any investment vehicle discussed in this document.

2

Agenda

ERIC LLOYD

IAN FOWLER

BRYAN HIGH

JONATHAN BOCK

2Q 2022 HIGHLIGHTS (Lloyd)

What were the summary points of the quarter?

BARINGS BDC MARKET UPDATE & INVESTMENT PORTFOLIO (Fowler)

Update on the portfolio performance.

BARINGS BDC FINANCIALS (Bock)

A walk through the balance sheet, income statement, NAV bridge and liquidity.

3Q 2022 ORIGINATION PIPELINE (Bock)

What is the level of investment activity post-quarter end?

3

2Q 2022 Highlights

Credit Spreads and BDC Equity Prices through July 31st

The risk-off mentality was apparent across asset classes in Q2, though prices began to rebound post-quarter end

BROADLY-SYNDICATED LOAN

SPREADS

1,000

900

800

700

600

500

400

300

Jun-22

Dec-21

Jun-21

Dec-20

Jun-20

Dec-19

Jun-19

Dec-18

Jun-18

Dec-17

Jun-17

Credit Suisse Leveraged Loan Index (DM-3)

BROADLY-SYNDICATED LOAN

PRICES

$100

$98

$96

$94

$92

$90

$88

$86

$84

$82 $80

Jun-22

Dec-21

Jun-21

Dec-20

Jun-20

Dec-19

Jun-19

Dec-18

Jun-18

Dec-17

Jun-17

Credit Suisse Leveraged Loan Index (Price)

BDC EQUITY PRICES

$650

$600

$550

$500

$450

$400

$350

$300

$250 $200

17-Jun17-Dec18-Jun18-Dec19-Jun19-Dec20-Jun20-Dec21-Jun21-Dec22-JunMVIS U.S. BDC Index (Price)

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Barings BDC Inc. published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 21:20:02 UTC.