CION Investment Corporation Announces Special Year-End 2023 Distribution Of $0.15 Per Share

Total Distributions Declared in 2023 Increased to $1.61 Per Share

CION Investment Corporation (NYSE:CION) ("CION") today announced that it has declared a special cash distribution for the year ending December 31, 2023 in the amount of $0.15 per share, payable on January 31, 2024 to shareholders of record as of December 22, 2023, which results in an increase in total distributions declared in 2023 of $0.16 per share, or 11.0%, from total distributions declared for the year ended December 31, 2022 of $1.45 per share. This special year-end distribution also results in a declared distribution yield1 of 15.5% for the year-to-date period through December 13, 2023, which is an increase of 14.0% year-over-year from the declared distribution yield1 of 13.6% for the year ended December 31, 2022. The special distribution represents a portion of the Company's investment company taxable income generated through the course of the year.

Michael A. Reisner, co-CEO of CION stated, "We are delighted to announce a special distribution for 2023, propelled by the strong performance of our portfolio over the year. Our goal is to maintain a steady financial performance while striving to provide shareholders with appealing and growing distributions. We believe that our dedication to executing our strategy, which prioritizes generating net investment income through a focus on first lien investments and a well-diversified portfolio of robust companies, has allowed us to provide attractive returns to our shareholders."