Preliminary Estimates of Net Asset Value and Net Investment Income

Set forth below is a preliminary estimate of New Mountain Finance Corporation’s (“the Company”, “we” or “our”) net asset value per share as of September 30, 2019 and a preliminary estimate of our net investment income per share range for the three months ended September 30, 2019. The following estimates are not a comprehensive statement of our financial condition or results for the period ended September 30, 2019. We advise you that our actual results for the three months ended September 30, 2019 may differ materially from these estimates, which are given only as of the date hereof, as a result of the completion of our financial closing procedures, final adjustments and other developments, including changes in interest rates, changes in the businesses to whom we have made loans or market and industry fluctuations, which may arise between now and the time that our financial results for the three months ended September 30, 2019 are finalized. This information is inherently uncertain.

As October 22, 2019, we estimate that our net asset value per share as of September 30, 2019 was approximately $13.30 to $13.40.

As of October 22, 2019, we currently expect that our net investment income per share was between $0.35 and $0.36 for the three months ended September 30, 2019.

The preliminary financial estimates provided herein have been prepared by, and are the responsibility of, management. Neither Deloitte & Touche LLP, our independent registered public accounting firm, nor any other independent accountants have audited, reviewed, compiled, or performed any procedures with respect to the accompanying preliminary financial data. Accordingly, Deloitte & Touche LLP does not express an opinion or any form of assurance with respect thereto and assumes no responsibility for, and disclaims any association with, this information.

The information disclosed under this Item 2.02 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

About New Mountain Finance Corporation (NYSE:NMFC)

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. Its investments may also include equity interests, such as preferred stock, common stock, warrants or options received in connection with its debt investments, or may include a direct investment in the equity of private companies. It makes investments through both primary originations and open-market secondary purchases. Its portfolio includes investments in various sectors, such as software, business services, education, distribution and logistics, federal services, consumer services, healthcare services, media and healthcare products. New Mountain Finance Advisers BDC, L.L.C. is the investment advisor of the Company.