Exhibit 99.2

CION Investment Corporation First Quarter 2026 Earnings Presentation

Disclosures and Forward - Looking Statements 2 The information contained in this earnings presentation should be viewed in conjunction with the earnings conference call of CION Investment Corporation (NYSE : CION) (“CION” or the “Company”) held on Thursday, May 7 , 2026 as well as the Company’s Quarterly Report on Form 10 - Q for the quarter ended March 31 , 2026 that was filed with the Securities and Exchange Commission (the “SEC”) on May 7 , 2026 . The information contained herein may not be used, reproduced or distributed to others, in whole or in part, for any other purpose without the prior written consent of the Company . This earnings presentation may contain forward - looking statements that involve substantial risks and uncertainties, including the impact of tariffs and trade disputes with other countries, changes in inflation, high interest rates and the risk of recession on the business, future operating results, access to capital and liquidity of the Company and its portfolio companies . You can identify these statements by the use of forward - looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology, including references to assumptions, forecasts of future results, shareholder diversification, institutional research coverage and availability and access to capital . You should read statements that contain these words carefully because they discuss the Company’s plans, strategies, prospects and expectations concerning its business, operating results, financial condition and other similar matters . These statements represent the Company’s belief regarding future events that, by their nature, are uncertain and outside of the Company’s control, such as the price at which the Company’s shares of common stock and other securities will trade on the NYSE . Any forward - looking statement made by the Company in this earnings presentation speaks only as of the date on which the Company makes it . Factors or events that could cause the Company’s actual results to differ, possibly materially from its expectations, include, but are not limited to, the risks, uncertainties and other factors the Company identifies in the sections entitled “Risk Factors” and “Forward - Looking Statements” in filings the Company makes with the SEC, and it is not possible for the Company to predict or identify all of them . The Company undertakes no obligation to update or revise publicly any forward - looking statements, whether as a result of new information, future events or otherwise, except as required by law . This earnings presentation does not constitute a prospectus and should under no circumstances be understood as an offer to sell or the solicitation of an offer to buy the Company’s common stock or any other securities nor will there be any sale of common stock or any other securities referred to in this earnings presentation in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction . Nothing in these materials should be construed as a recommendation to invest in any securities that may be issued by the Company or as legal, accounting or tax advice . An investment in securities of the type described herein presents certain risks . The Company is managed by CION Investment Management, LLC, an affiliate of the Company . Nothing contained herein shall be relied upon as a promise or representation whether as to past or future performance . The information contained in this earnings presentation is summary information that is intended to be considered in the context of other public announcements that the Company may make, by press release or otherwise, from time to time . The Company undertakes no duty or obligation to publicly update or revise the information contained in this earnings presentation, except as required by law . These materials contain information about the Company, certain of its personnel and affiliates and its historical performance . You should not view information related to past performance of the Company as indicative of its future results, the achievement of which cannot be assured . Past performance does not guarantee future results, which may vary . The value of investments and the income derived from investments will fluctuate and can go down as well as up . A loss of principal may occur .

3 1. The discussion of the investment portfolio excludes short term investments. First Quarter and Other Highlights – Ended March 31, 2026 • Net investment income and earnings per share for the quarter ended March 31 , 2026 were $ 0 . 25 per share and $ ( 0 . 45 ) per share, respectively ; • Net asset value per share was $ 13 . 11 as of March 31 , 2026 compared to $ 13 . 76 as of December 31 , 2025 , a decrease of $ 0 . 65 per share, or 4 . 7 % . The decrease was primarily due to mark - to - market price adjustments to certain investments in the Company’s portfolio during the quarter ended March 31 , 2026 ; • As of March 31 , 2026 , the Company had $ 1 . 17 billion of total principal amount of debt outstanding, of which 25 % was comprised of senior secured bank debt and 75 % was comprised of unsecured debt . The Company’s net debt - to - equity ratio was 1 . 62 x as of March 31 , 2026 compared to 1 . 44 x as of December 31 , 2025 ; • As of March 31 , 2026 , the Company had total investments at fair value of $ 1 . 70 billion in 89 portfolio companies across 23 industries . The investment portfolio was comprised of 80 . 8 % senior secured first lien investments ; 1 • During the quarter, the Company funded new investment commitments of $ 54 million, funded previously unfunded commitments of $ 12 million, and had sales and repayments totaling $ 38 million, resulting in a net increase to the Company's funded portfolio of $ 28 million ; • As of March 31 , 2026 , investments on non - accrual status amounted to 1 . 53 % and 5 . 35 % of the total investment portfolio at fair value and amortized cost, respectively, from 1 . 78 % and 4 . 32 % , respectively, as of December 31 , 2025 ; • During the quarter, the Company repurchased 1 , 116 , 053 shares of its common stock under its 10 b 5 - 1 trading plan at an average price of $ 8 . 71 per share for a total repurchase amount of $ 9 . 7 million . Through March 31 , 2026 , the Company repurchased a total of 6 , 656 , 627 shares of its common stock under its 10 b 5 - 1 trading plan at an average price of $ 9 . 80 per share for a total repurchase amount of $ 65 . 2 million ; • On February 9 , 2026 , the Company completed a public baby bond offering in the U . S . pursuant to which the Company issued $ 135 million in aggregate principal amount of its 7 . 50 % fixed rate senior unsecured notes due 2031 , which listed and commenced trading on the NYSE under the ticker symbol “CICC” on February 12 , 2026 ; and • On March 30, 2026, the Company repaid $100 million in aggregate principal amount of borrowings under its JPM Credit Facility. DISTRIBUTIONS • For the quarter ended March 31 , 2026 , the Company paid monthly base distributions totaling $ 15 . 2 million, or $ 0 . 30 per share ; • On March 9, 2026, the Company’s co - chief executive officers declared base distributions of $0.10 per share for each of April, Ma y, and June 2026, which were paid or will be payable to shareholders on April 24, May 29, and June 26, 2026, respectively, to shareholders of record as of April 10, May 1 5, and June 12, 2026, respectively; and • On May 4, 2026, the Company's co - chief executive officers declared base distributions of $0.10 per share for each of July, Augus t and September 2026, which will be payable to shareholders on July 31, August 28, and September 25, 2026, respectively, to shareholders of record as of July 17, August 14, an d September 11, 2026, respectively.

4 Selected Financial Highlights 1. The discussion of the investment portfolio excludes short term investments. 2. Total debt outstanding excludes netting of debt issuance costs. Please refer to page 10 for debt net of issuance costs. Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ($ in millions) $1,792 $1,766 $1,738 $1,697 $1,702 Investment portfolio, at fair value (1) $1,117 $1,117 $1,092 $1,140 $1,175 Total debt outstanding (2) $757 $759 $773 $708 $660 Net assets 1.48x 1.47x 1.41x 1.61x 1.78x Debt - to - equity 1.39x 1.39x 1.28x 1.44x 1.62x Net debt - to - equity $56.1 $52.5 $78.7 $53.8 $49.5 Total investment income $19.3 $16.9 $38.6 $18.3 $12.9 Net investment income $(62.0) $10.4 $(2.7) $(59.4) $(35.9) Net realized and unrealized (losses) gains $(42.7) $27.3 $35.9 $(41.1) $(23.0) Net (decrease) increase in net assets resulting from operations Per Share Data $14.28 $14.50 $14.86 $13.76 $13.11 Net asset value per share $0.36 $0.32 $0.74 $0.35 $0.25 Net investment income per share $(1.16) $0.20 $(0.05) $(1.15) $(0.70) Net realized and unrealized (losses) gains per share $(0.80) $0.52 $0.69 $(0.80) $(0.45) Earnings per share $0.36 $0.36 $0.36 $0.36 $0.30 Distributions declared per share

Investment Activity • New investment commitments for the quarter were $69 million, of which $54 million were funded and $15 million were unfunded. • New investment commitments were made across 2 new and 9 existing portfolio companies. • Fundings of previously unfunded commitments for the quarter were $12 million. • Sales and repayments totaled $38 million for the quarter, which included the full exit of investments in 2 portfolio companie s. Note - The discussion of the investment portfolio excludes short term investments. Unfunded commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, whi ch may be shorter than the loan’s maturity date. 5 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ($ in millions) $65 $41 $73 $76 $69 New investment commitments $55 $29 $65 $66 $54 Funded $10 $12 $8 $10 $15 Unfunded $10 $10 $17 $12 $12 Fundings of previously unfunded commitments $(36) $(86) $(148) $(79) $(38) Repayments $(13) $(2) $(3) $0 $0 Sales $16 $(49) $(69) $(1) $28 Net funded investment activity 104 99 91 89 89 Total Portfolio Companies

6 Portfolio Asset Composition * Less than 1%. The discussion of the investment portfolio is at fair value and excludes short term investments. 93% 79% 100% 94% 5% 81% 19% 0%* 1% 0%* 0%* 0%* 1% 0%* 80% 0%* 19% 85% 14% 0%* 87% 81% 1% 12% 19% 0% 92% 1% 0%* 0%* 8% 0% 1% 20% 6% 1% 0%*

7 INTERNAL INVESTMENT RISK RATINGS (1) (% of Total Portfolio, Fair Value) Q1 2026 NON - ACCRUAL % (1) Higher Credit Quality Lower Credit Quality Credit Quality of Investments 1. The discussion of the investment portfolio excludes short term investments. * - Less than 1%. Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Rating 2.3% 3.2% 1.5% 8.2% 9.3% 1 86.1% 83.4% 85.7% 77.9% 75.7% 2 10.3% 11.6% 10.4% 11.5% 12.9% 3 0.9% 1.4% 2.1% 1.9% 1.6% 4 0.4% 0.4% 0.3% 0.5% 0.5% 5 100.0% 100.0% 100.0% 100.0% 100.0% Total

PORTFOLIO BY SECURITY TYPE (4) PORTFOLIO BY INTEREST RATE TYPE (4) Portfolio Summary 8 ( 1 ) See endnote 4 in our press release filed with the SEC on May 7 , 2026 . ( 2 ) See endnote 5 in our press release filed with the SEC on May 7 , 2026 . ( 3 ) See endnote 6 in our press release filed with the SEC on May 7 , 2026 . ( 4 ) The discussion of the investment portfolio excludes short term investments . Portfolio Characteristics (as of March 31, 2026) (4) Investment Portfolio $1,759.9 million Total investments and unfunded commitments $57.5 million Unfunded commitments $1,702.4 million Investments at fair value 10.43 % Yield on debt and other income producing investments at amortized cost (1) 11.24 % Yield on performing loans at amortized cost (1) 8.92 % Yield on total investments at amortized cost Portfolio Companies 89 Number of portfolio companies 4.62x Weighted average leverage (net debt/EBITDA) (2) 2.08x Weighted average interest coverage (2) $34.6 million Median EBITDA (3) Industry Diversification (4) % of Investment Portfolio Industry 14.0 % Services: Business 11.8 % Healthcare & Pharmaceuticals 10.7 % Retail 8.4 % Energy: Electricity 6.8 % Media: Diversified & Production 48.3 % Other (≤ 6.7% each) 80.8% Senior Secured Debt Investments - Less than 1%

Quarterly Operating Results 9 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 All figures in thousands, except share and per share data Investment income $ 51,394 $ 48,881 $ 68,177 $ 43,992 $ 42,865 Interest income (1) 697 1,651 905 5,052 3,798 Dividend income 3,983 1,712 9,629 4,748 2,874 Fee income $ 56,074 $ 52,244 $ 78,711 $ 53,792 $ 49,537 Total investment income Expenses $ 6,625 $ 6,497 $ 6,532 $ 6,422 $ 6,105 Management fees 22,998 22,637 22,652 22,253 24,413 Interest and other debt expenses 4,084 3,589 8,181 3,882 2,728 Incentive fees 3,115 2,589 2,874 2,936 3,338 Other operating expenses $ 36,822 $ 35,312 $ 40,239 $ 35,493 $ 36,584 Total expenses before taxes — 10 (95) — 89 Income tax expense (benefit), including excise tax $ 19,252 $ 16,922 $ 38,567 $ 18,299 $ 12,864 Net investment income after taxes Net realized (loss) gain and unrealized (depreciation) appreciation on investments $ 2,294 $ (32,376) $ (9,605) $ 118 $ 237 Net realized gain (loss) (64,251) 42,770 6,916 (59,537) (36,132) Net change in unrealized (depreciation) appreciation $ (61,957) $ 10,394 $ (2,689) $ (59,419) $ (35,895) Net realized and unrealized (losses) gains $ (42,705) $ 27,316 $ 35,878 $ (41,120) $ (23,031) Net (decrease) increase in net assets resulting from operations Per share data $ 0.36 $ 0.32 $ 0.74 $ 0.35 $ 0.25 Net investment income $ (1.16) $ 0.20 $ (0.05) $ (1.15) $ (0.70) Net realized (loss) gain and unrealized (depreciation) appreciation on investments $ (0.80) $ 0.52 $ 0.69 $ (0.80) $ (0.45) Earnings per share $ 0.36 $ 0.36 $ 0.36 $ 0.36 $ 0.30 Distributions declared per share 53,073,211 52,628,784 52,065,707 51,616,723 50,803,697 Weighted average shares outstanding 53,003,407 52,303,842 51,973,518 51,417,866 50,301,813 Shares outstanding, end of period 1. Includes certain prepayment fees, exit fees, accelerated original issue discount and paid - in - kind interest income.

Quarterly Balance Sheet 10 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 All figures in thousands, except per share data and asset coverage ratio Assets $ 1,845,660 $ 1,824,628 $ 1,840,584 $ 1,812,990 $ 1,799,474 Investments, at fair value 7,720 6,533 3,931 8,159 9,248 Cash 40,863 45,246 31,192 27,979 33,062 Interest receivable on investments 1,047 3,408 5,218 3,699 227 Receivable due on investments sold 1,033 966 3,019 1,973 1,950 Prepaid expenses and other assets $ 1,896,323 $ 1,880,781 $ 1,883,944 $ 1,854,800 $ 1,843,961 Total Assets Liabilities & Net Assets $ 1,099,776 $ 1,101,640 $ 1,078,522 $ 1,125,580 $ 1,158,183 Financing arrangements (net of debt issuance costs) (1) 1,896 4 9,277 2,529 6,636 Payable for investments purchased 990 1,178 1,154 785 813 Accounts payable and accrued expenses 6,475 7,866 6,194 5,764 8,489 Interest payable 6,625 6,497 6,571 6,423 6,104 Accrued management fees 4,084 3,589 8,181 3,882 2,728 Accrued subordinated incentive fee on income 544 1,263 1,499 2,182 1,372 Accrued administrative services expense — 134 40 27 — Share repurchase payable 19,149 — — — — Shareholder distribution payable $ 1,139,539 $ 1,122,171 $ 1,111,438 $ 1,147,172 $ 1,184,325 Total Liabilities $ 756,784 $ 758,610 $ 772,506 $ 707,628 $ 659,636 Total Net Assets $ 1,896,323 $ 1,880,781 $ 1,883,944 $ 1,854,800 $ 1,843,961 Total Liabilities and Net Assets $ 14.28 $ 14.50 $ 14.86 $ 13.76 $ 13.11 Net Asset Value per share 1.68 1.68 1.71 1.62 1.56 Asset coverage ratio (2) 1. The Company had debt issuance costs of $ 16 , 661 as of March 31 , 2026 , $ 14 , 263 as of December 31 , 2025 , $ 13 , 822 as of September 30 , 2025 , $ 15 , 704 as of June 30 , 2025 and $ 17 , 568 as of March 31 , 2025 . 2. Asset coverage ratio is equal to (i) the sum of (a) net assets at the end of the period and (b) total senior securities outstanding at the end of the period (excluding unfunded commitments), divided by (ii) total senior securities outstanding at the end of the period .

11 Q1 2026 Net Asset Value Bridge Per Share Data

12 Maturity Date Interest Rate Principal Amount Outstanding Total Commitment Amount 6/15/2027 S + 2.55% (2) $200 $275 JPM Credit Facility 12/30/2029 7.50% 173 173 7.50% 2029 Notes (1) 12/15/2029 7.70% 125 125 7.70% 2029 Notes (1) 12/15/2027 7.41% 48 48 7.41% 2027 Notes (1) 2/13/2028 S + 2.75% 100 125 UBS Credit Facility 3/31/2031 7.50% 135 135 7.50% 2031 Notes (1) 8/31/2026 S + 3.82% 115 115 Series A Unsecured Notes, 2026 (1) 11/8/2027 S + 4.75% 100 100 Floating Rate Unsecured Notes, Tranche A 2027 (1) 11/8/2027 S + 3.90% 100 100 Floating Rate Unsecured Notes, Tranche B, 2027 (1) 4/27/2027 S + 3.50% 50 50 2022 Unsecured Term Loan (1) 9/30/2027 S + 3.80% 30 30 2024 Unsecured Term Loan (1) 7.52% $1,175 $1,275 Total Debt Debt Summary DEBT MATURITIES ($ in millions) DEBT SCHEDULE ($ in millions) $100 million in available capacity within existing senior secured facilities 1. Investment grade credit rating. 2. The Company pays an annual administrative fee of 0.20% on JPM's total financing commitment.

13 Distribution Per Share and Distribution Coverage 1 1. Includes supplemental distributions of $0.05 and $0.05 per share during Q2 2024 and Q4 2024, respectively. Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 $0.25 $0.35 $0.74 $0.32 $0.36 $0.35 $0.40 $0.43 Net Investment Income (per share) $0.30 $0.36 $0.36 $0.36 $0.36 $0.41(1) $0.36 $0.41(1) Distribution (per share) 0.83x 0.97x 2.06x 0.89x 1.00x 0.85x 1.11x 1.05x Distribution coverage