Seeking the best relative value opportunities across corporate and structured credit with a bias for high quality, short duration and liquid credits where Palmer Square Capital Management possesses differentiated investment capabilities.

OUR PORTFOLIO

As of September 30, 2024 – Q3’24 10-Q

$457M Weighted average portfolio company EBITDA

2.0x Weighted average portfolio company interest coverage

5.5x Weighted average
1L leverage 1

1 Includes other sources of company level first lien financing.

Highly Diversified Portfolio

Borrower Concentration ¹ Portfolio Mix ¹ Top 5 Industry Mix ¹ Top 10 Investments

Borrower Concentration ¹

Low Borrower Concentration

212 Portfolio Companies

Note: Data as of 9/30/2024.
1 As a percentage of total income producing securities at fair value.

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Portfolio Mix ¹

Senior Secured Focused

~96% Senior Secured

Note: Data as of 9/30/24.
1 As a percentage of total income producing securities at fair value.

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Top 5 Industry Mix ¹

Focus on Defensive Industries

39 Industries

Note: Data as of September 30, 2024 – Q3’24 10-Q
1 As a percentage of total income producing securities at fair value.
2 Includes the fair value of short-term investments.

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Top 10 Investments

Company Industry Asset Type Fair Value ($M)

Asurion, LLC
Insurance
1st Lien Senior Secured
$2,472,441

Asurion, LLC
Insurance
1st Lien Senior Secured
$4,900,116

Asurion, LLC
Insurance
2nd Lien Senior Secured
$8,351,010

Nexus Buyer LLC
Diversified Financial Services
1st Lien Senior Secured
$9,905,624

Nexus Buyer LLC
Diversified Financial Services
2nd Lien Senior Secured
$4,990,625

Lightstone Holdco LLC
Independent Power and Renewable Electricity Producers
1st Lien Senior Secured
$14,081,160

Lightstone Holdco LLC
Independent Power and Renewable Electricity Producers
1st Lien Senior Secured
$796,480

Delta Topco, Inc.
IT Services
1st Lien Senior Secured
$9,971,559

Delta Topco, Inc.
IT Services
2nd Lien Senior Secured
$4,535,640

Kestrel Acquistion, LLC
Independent Power & Renewable Electricity Producers
1st Lien Senior Secured
$14,244,805

Barracuda Networks, Inc.
Software
1st Lien Senior Secured
$10,083,803

Barracuda Networks, Inc.
Software
2nd Lien Senior Secured
$3,608,000

Project Boost Purchaser, LLC
Professional Services
1st Lien Senior Secured
$10,801,554

Project Boost Purchaser, LLC
Professional Services
2nd Lien Senior Secured
$2,508,325

OneDigital Borrower LLC
Insurance
1st Lien Senior Secured
$7,926,813

OneDigital Borrower LLC
Insurance
2nd Lien Senior Secured
$4,962,500

Gainwell Acquisition Corp.
Healthcare Providers and Services
1st Lien Senior Secured
$8,322,007

Gainwell Acquisition Corp.
Healthcare Providers and Services
2nd Lien Senior Secured
$4,536,000

Flash Charm, Inc.
IT Services
1st Lien Senior Secured
$9,474,174

Flash Charm, Inc.
IT Services
2nd Lien Senior Secured
$3,274,009

Source: SEC Filings, as of September 30, 2024 – Q3’24 10-Q

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