Private Placement (Form 8-K)

On October 1, 2026, PennantPark Private Income Fund (the "Company") issued and sold 118,703 of the Company's common shares of beneficial interest, par value $0.001 per share (the "Common Shares") (with the final number of Common Shares issued being determined on October 23, 2026) pursuant to subscription agreements entered into with the participating investors for aggregate consideration of approximately $3,080,000.

The offer and sale of the Common Shares were conducted in connection with the Company's continuous private offering of Common Shares (the "Private Offering") in reliance on the exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. The Company relied, in part, upon representations from each participating investor in the relevant subscription agreement that such investor is an "accredited investor" as defined in Regulation D under the Securities Act.

Net Asset Value

The net asset value per share of the Common Shares as of September 30, 2026, as determined by the Company, is $25.95.

As of September 30, 2026, the Company's aggregate net asset value was approximately $130,792,624.