CION Investment Corp

The Company will not permit the Asset Coverage Ratio as of the last calendar day of any fiscal quarter of the Company to be less than 150%.

The Company will not permit the Interest Coverage Ratio as of the last calendar day of any fiscal quarter of the Company to be less than 1.25 to 1.00.

The Company will not permit the Unencumbered Asset Coverage Ratio as of the last calendar day of any fiscal quarter of the Company to be less than 1.25:1.00;

The Company will not permit Shareholders’ Equity at the last calendar day of any fiscal quarter of the Company to be less than $493.1 million plus 65% of the net proceeds of the sale of Equity Interests by the Company and its Subsidiaries after the Closing.

The Company will not permit the Asset Coverage Ratio as of the last calendar day of any fiscal quarter of the Company to be less than 150%.

The Company will not permit the Interest Coverage Ratio as of the last calendar day of any fiscal quarter of the Company to be less than 1.25 to 1.00

The Company will not permit the Unencumbered Asset Coverage Ratio as of the last calendar day of any fiscal quarter of the Company to be less than 1.25:1.00

The Company will not permit Shareholders’ Equity at the last calendar day of any fiscal quarter of the Company to be less than $493.1 million plus 65% of the net proceeds of the sale of Equity Interests by the Company and its Subsidiaries after the Closing