Historical Shareholder Updates

Q1 2023 Shareholder Update Presentation

Welcome to the HLEND first quarter shareholder update call. Thank you for taking the time today and for your continued support of HLEND.

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Q4 2022 Shareholder Update Presentation

Welcome everyone and thank you both for your time today and your support of HLEND. I am John Christmas, Co-Head of Business Development and Investor Relations at HPS and I am joined today by Michael Patterson.

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Q3 2022 Shareholder Update Call Transcript and Presentation

Thank you to all who are joining us today. I'm excited to be joined by Michael Patterson, Chief Executive Officer for HLEND and Grishma Parekh, Co-Head of North America Core Senior Lending and trustee for HLEND.

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Historical Portfolio Reviews

June 2023 Portfolio Update

The public credit markets continued their healing process – high yield and leveraged loan issuance picked up relative to 2H 2022 but remained below historical levels. Private credit remained the favored path for LBOs, financing 85% of volume during 2Q 2023…

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May 2023 Portfolio Update

Following a lull throughout March and April, lending activity in the new issuance leveraged loan and high yield markets increased in May.

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April 2023 Portfolio Update

Overall direct lending activity in early 2023 was muted relative to second half 2022 levels as several key market drivers slowed.  M&A activity stalled amid ongoing market volatility and a dispersion between buyers’ and sellers’ valuation expectations…

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March 2023 Portfolio Update

The leveraged loan and high yield markets experienced a choppy March, as fears associated with the U.S. regional banking system disrupted investor confidence and stalled new issuance activity.

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February 2023 Portfolio Update

The markets finished the month of February 2023 mixed despite continued positive U.S. economic data releases, as rekindled worries regarding restrictive Federal Reserve policy clouded investment sentiment.

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January 2023 Portfolio Update

Major markets posted positive returns for the month of January 2023 after historically weak performance in 2022.

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December 2022 Portfolio Update

We are very pleased with HPS Corporate Lending Fund’s (“HLEND” or the “Fund”) 2022 performance in a challenging economic and market climate.

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November 2022 Portfolio Update

HLEND continued to actively deploy capital in what HPS believes is a highly attractive private credit investment environment, characterized by larger companies, lower debt levels, better loan terms and structural protections.

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October 2022 Portfolio Update

Capital market access remains largely closed to the majority of scaled and seasoned non-investment grade issuers amid continued market volatility and bank efforts to derisk balance sheets prior to year end.

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September 2022 Portfolio Update

The broader market came under renewed pressure during the month of September driven by the Federal Reserve continuing its hawkish policy stance, escalation of recession fears, and the turmoil caused by the UK mini budget announcement.

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August 2022 Portfolio Update

Public credit market activity remained largely shuttered throughout the month of August with banks choosing to wait to come to the market after Labor Day with revised terms and structures for the prior larger-scale commitments that are still held on their balance sheets.

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