<span item_type="fundamental" item_id="3455c1ee5d6f79f8d83ce861330f6752" counter_id="ST/US/MSDL" env="prod"></span><span item_type="announcement" item_id="546905623683270913" env="prod"></span><p>EPS: As of FY2025 Q2, the actual value is USD 0.41.</p><p></p><h3>Financial Metrics</h3><h4>Total Assets and Liabilities</h4><ul><li>Total assets as of June 30, 2025: $3,921,890 thousand, compared to $3,912,018 thousand as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li><li>Total liabilities as of June 30, 2025: $2,131,591 thousand, up from $2,069,862 thousand as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li></ul><h4>Net Assets</h4><ul><li>Net assets decreased to $1,790,299 thousand from $1,842,156 thousand over the same period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li><li>Net asset value per share was $20.59 as of June 30, 2025, compared to $20.81 as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li></ul><h4>Investment Income</h4><ul><li>Total investment income for the three months ended June 30, 2025: $99,508 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li><li>Net investment income after taxes: $43,657 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li><li>Net realized and unrealized losses: -$7,561 thousand, resulting in a net increase in net assets from operations of $36,096 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li></ul><h4>Cash Flow</h4><ul><li>Cash flows from operating activities for the six months ended June 30, 2025, resulted in net cash provided of $58,136 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li><li>Financing activities used net cash of -$69,376 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li><li>Cash, cash equivalents, and restricted cash decreased to $52,216 thousand at the end of the period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li></ul><h3>Strategic Summary</h3><h4>Diversification Strategy</h4><ul><li>The fund’s debt investments are diversified across various sectors, including Aerospace &amp; Defense, Air Freight &amp; Logistics, Automobile Components, Automobiles, Beverages, Biotechnology, Building Products, Chemicals, Commercial Services &amp; Supplies, Construction &amp; Engineering, Consumer Staples Distribution &amp; Retail, Containers &amp; Packaging, Distributors, and Diversified Consumer Services.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li><li>The fund’s strategy includes maintaining a diversified portfolio of first lien and second lien debt investments with varying interest rates and maturity dates.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1782524/000178252425000026/msdlf-20250630.htm"></span></li></ul>

Morgan Stanley Direct Lending Fund | 10-Q: FY2025 Q2 EPS: USD 0.41