PennantPark is organized as a Delaware limited liability company, and was formed on January 10, 2007. Our principal owner is Arthur Howard Penn. Our senior investment professionals have worked together for many years and average over 25 years of experience in the senior lending, mezzanine lending, leveraged finance, distressed debt and private equity businesses. In addition, our senior investment professionals have been involved in originating, structuring, negotiating, managing and monitoring investments in each of these businesses across changing economic and market cycles. Advisory Services Our current clients consist of (i) PennantPark Investment Corporation (“PNNT”) and PennantPark Floating Rate Capital Ltd. (“PFLT”), two closed-end management investment companies that have elected to be regulated as business development companies (“BDCs”) under the Investment Company Act of 1940, as amended (“1940 Act”), and (ii) privately-offered investment vehicles (“Funds”), which, for purposes of this Brochure, includes fund-of-one structures, institutional separately managed accounts, and similar investment relationships. Certain Clients maintain subordinated debt and/or equity investments in collateralized loan obligation vehicles, which we manage (collectively, the “CLOs”) Each of the BDCs, Funds, and CLOs are referred to herein as a “Client” and collectively as “Clients.” Funds can be established with one or more feeder funds which invest substantially all of their assets in their applicable master fund. Client assets are managed in accordance with the particular investment objectives, strategies, restrictions and guidelines set forth in each Client’s investment advisory agreement, limited liability company agreement, limited partnership agreement, registration statements filed with the SEC and any other applicable Client governing

documents (“Governing Documents”). We do not tailor our advisory services to the needs of individual investors in Funds, however, at the establishment of a Fund relationship, specific investment criteria, obligations, or restrictions, can be set-out for a Fund in consultation with prospective investors. Investment criteria for each Client, including investment objectives, restrictions, guidelines, and other information are set-out in the Governing Documents for each Client. Prior to investing, prospective investors should carefully review their applicable Governing Documents. We typically advise our Clients on senior secured loans, mezzanine debt and equity investments in U.S. middle-market private companies. The companies in which we advise our Clients to invest are typically highly leveraged, often as a result of leveraged buy-outs or other recapitalization transactions. We may also provide investment advice regarding high-yield debt, stressed and distressed debt, international debt, short opportunities, long- and short-term purchases of general equity securities (including exchange listed, over-the-counter and foreign-issued securities), US government securities, warrants and options contracts on securities. Client investments may be held directly or indirectly through subsidiaries including securitization vehicles. PennantPark or one of our affiliates serves as the general partner or managing member of the Funds (each, and as applicable, a “General Partner” or “Managing Member”); however, the investment management services are performed by us pursuant to an investment advisory agreement by and between us and the respective Client. We do not participate in any wrap fee program. As of December 31, 2023 our assets under management (“AUM”) were approximately $3.9 billion on a discretionary basis and $0.1 billion on a non- discretionary basis.