On June 2, 2022, PennantPark Floating Rate Capital Ltd. (PFLT) and PennantPark Investment Corporation (PNNT) announced that Richard T. Allorto, Jr. has been appointed as the Chief Financial Officer and Treasurer of each of PFLT and PNNT, effective as of June 13, 2022. In addition to his role with each of PFLT and PNNT, Mr. Allorto has also been named a senior executive on the Finance and Operations team of PennantPark Investment Administration, LLC, the investment administrator for each of PFLT and PNNT. Mr. Allorto, 50, most recently served as Chief Financial Officer of Medley Management Inc. and Chief Financial Officer and Secretary of Sierra Income Corporation.

From January 2011 to December 2020, Mr. Allorto served as Chief Financial Officer and Secretary of Medley Capital Corporation. Prior to joining Medley, Mr. Allorto held various positions at GSC Group Inc., a registered investment adviser, including, Chief Financial Officer of GSC Investment Corp, a business development company that was externally managed by GSC Group. Mr. Allorto began his career at Arthur Andersen in public accounting in 1994.

Mr. Allorto is a licensed CPA and received a B.S. in Accounting from Seton Hall University. Effective with Mr. Allorto's appointment as Chief Financial Officer and Treasurer of PFLT and PNNT, Mr. Allorto will report to Richard Cheung, who will continue to serve as Chief Financial Officer of the PennantPark Investment Advisers, LLC (the Advisor) and the other private funds advised by the Advisor.