$MAIN earnings report

This is a preliminary third-quarter update rather than a full earnings release. Main Street estimated third-quarter 2026 NII of $0.87 to $0.91 per share, DNII of $0.94 to $0.98 per share and DNII before taxes of $0.96 to $1.00 per share. Management stated that DNII before taxes was in line with its expectations and prior guidance provided on its last conference call. The preliminary figures remain subject to the Company’s closing procedures, third-party review and portfolio fair-value determinations.

Preliminary NAV per share was $34.18 to $34.26 as of September 30, 2026, compared with $33.92 as of June 30, 2026. The Company characterized this as its seventeenth consecutive quarterly NAV-per-share increase and said it occurred after the impact of the $0.30 per share supplemental dividend paid in September 2026. Main Street estimated annualized return on equity of over 14% for the quarter.

Portfolio valuation was the principal positive contributor to NAV. Management cited net fair value appreciation across the LMM portfolio, private loan portfolio and other portfolio investments, as well as the accretive impact of equity issuances. Those factors were partly offset by dividends paid in excess of NII per share, the net tax provision, net fair value depreciation in the middle market portfolio and fair value depreciation of the wholly-owned external investment manager.

Investment activity showed $61.5 million of total LMM portfolio investments and $162.0 million of total private loan portfolio investments. After repayments, returns of invested equity capital and realized-loss-related cost-basis decreases, the total cost basis of the LMM portfolio declined by $19.4 million and the private loan portfolio declined by $1.8 million. 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.

Liquidity capacity expanded through SBA approval for Main Street Mezzanine Fund, LP to increase SBIC debenture borrowing capacity by $75.0 million to $250.0 million. Together with Main Street Capital III, LP, the Company stated that it has access to $425.0 million of the recently increased $475.0 million regulatory maximum for affiliated SBIC funds. The key next event is the scheduled November 5, 2026 full results release, when the preliminary per-share ranges, fair-value movements and tax provision will be finalized.

This Item 2.02 filing is a portfolio-activity release rather than a full earnings release. Main Street reported $157.2 million of new or increased commitments in its private loan portfolio and $162.0 million of funded investments at cost during the third quarter of 2026. The release does not provide revenue, net investment income, net income, earnings per share, net asset value, or investment valuation results.

Private loan investments at cost were approximately $2.1 billion as of September 30, 2026, spread across 86 unique companies. The reported portfolio mix was heavily weighted toward first lien senior secured debt investments, which accounted for 92.6% of cost, while equity investments or other securities accounted for 7.4%.

The disclosed investment activity included first lien senior secured term loans, revolvers and delayed draw term loans, plus equity investments, for companies serving medium-voltage cable distribution, manufacturer representation and power systems integration, and industrial mixing equipment. These transactions support the reported focus on secured debt investing within Main Street's private loan strategy.

There are no comparative figures in the release for prior-year or prior-quarter activity, so the direction of origination volume, funded investments, portfolio size and portfolio mix cannot be assessed from this filing. There is also no forward guidance or capital-allocation update. The principal items to monitor in subsequent disclosures are private loan activity, portfolio composition, credit performance, investment valuations and the financial results omitted from this release.

Main Street reported higher aggregate income and investment earnings in the second quarter. Total investment income increased 4% to $149,572, as a 12% increase in interest income and an 81% increase in fee income more than offset a 28% decrease in dividend income. The interest-income increase reflected higher average income producing debt investments, although lower benchmark rates and non-accrual investments were offsets. Fee income benefited from refinancing, prepayment and increased investment activity.

Net investment income increased 2% to $90,324 and distributable net investment income increased 3% to $97,392. However, NII per share declined to $0.97 from $0.99, while DNII per share declined to $1.04 from $1.06. Management attributed the per-share declines in part to a 4.5% increase in weighted-average shares outstanding compared with the second quarter of 2025. Total cash expenses increased 9.5% to $48.7 million, led by higher interest expense and cash compensation expenses, partially offset by higher expenses allocated to the External Investment Manager.

Portfolio valuation and operating returns were the central strengths of the period. Net increase in net assets resulting from operations rose 20% to $147,577, or $1.58 per share, and annualized quarterly return on equity increased to 18.9% from 17.1%. Net asset value per share reached $33.92, up from $33.46 as of March 31, 2026 and $33.33 as of December 31, 2025. The company cited significant net fair value appreciation across its lower middle market and private loan portfolios, including the $46.4 million realized gain upon the full exit of Centre Technologies Holdings, LLC.

The company continued to fund investment activity and reinforce liquidity. LMM investments totaled $99.7 million and private loan investments totaled $238.9 million. Main Street also expanded Corporate Facility commitments by $65.0 million to $1.240 billion, extended its maturity to June 2031, and issued $150.0 million principal amount of April 2031 Notes. The filing does not report ending cash, total debt, leverage or cash flow metrics.

Capital distributions remained elevated, with a $0.30 per share supplemental dividend declared and paid during the quarter, bringing total second-quarter dividends paid to $1.08 per share. For the third quarter, Main Street declared regular monthly dividends totaling $0.795 per share and another $0.30 per share supplemental dividend to be paid in September 2026. No forward financial guidance was provided in the supplied filing text.