<span item_type="fundamental" item_id="b2d45add91a2c10f873c8921442fa038" counter_id="ST/US/TCPC" env="prod"></span><span item_type="announcement" item_id="579776746736982401" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 50.52 M, missing the estimate of USD 50.88 M.</p><p>EPS: As of FY2025 Q3, the actual value is USD 0.29, missing the estimate of USD 0.31.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -4.816 M.</p><p></p><h3>Net Investment Income</h3><ul><li>Net investment income for the quarter ended September 30, 2025, was $27.3 million, or $0.32 per share, exceeding the regular dividend of $0.25 per share and special dividend of $0.04 per share.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li><li>Adjusted net investment income, excluding amortization of purchase discount, was $25.6 million, or $0.30 per share.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul><h3>Net Asset Value</h3><ul><li>Net asset value per share was $8.71 as of September 30, 2025, unchanged from June 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul><h3>Net Assets from Operations</h3><ul><li>Net increase in net assets from operations on a GAAP basis for the quarter was $24.4 million, or $0.29 per share, compared to a $15.9 million, or $0.19 per share, net decrease in the previous quarter.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul><h3>Debt Investments</h3><ul><li>Debt investments on non-accrual status represented 3.5% of the portfolio at fair value and 7.0% at cost as of September 30, 2025, compared to 3.7% and 10.4% respectively as of June 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul><h3>Investment Activity</h3><ul><li>Total investment acquisitions and dispositions during the quarter were approximately $63.1 million and $139.5 million, respectively.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul><h3>Regulatory Leverage</h3><ul><li>Net regulatory leverage was 1.20x as of September 30, 2025, down from 1.28x at June 30, 2025, primarily due to repayments in investments during the quarter.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul><h3>Management Fees</h3><ul><li>The Company’s investment adviser waived $1.8 million in management fees for the quarter, or $0.02 per share.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul><h3>Dividend Declaration</h3><ul><li>A fourth quarter dividend of $0.25 per share was declared, payable on December 31, 2025, to stockholders of record as of December 17, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span><span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-20251106.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>The Company is focused on resolving challenged credits, improving portfolio quality, and returning to historical performance levels. Non-accruals declined to 3.5% of the portfolio’s fair market value, and the average position size in the portfolio was reduced to create a more diversified, lower-risk portfolio. The partnership with HPS and the creation of the Private Financing Solutions platform are expected to expand deal flow and align with the investment strategy to deliver attractive returns.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1370755/000119312525268140/tcpc-ex99_1.htm"></span></li></ul>

TCP Capital | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 50.52 M