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FS KKR Capital Corp. F i n a n c i a l I n f o r m a t i o n Quarter Ended September 30, 2025 All information is as of September 30, 2025 unless otherwise noted
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Summary Third Quarter Performance • Net investment income (NII) for the quarter ended September 30, 2025 was $159 million, or $0.57 per share, as compared to $173 million, or $0.62 per share, for the quarter ended June 30, 2025. • Adjusted net investment income (Adjusted NII) for the quarter ended September 30, 2025 was $159 million, or $0.57 per share, as compared to $168 million, or $0.60 per share, for the quarter ended June 30, 2025(1). • Net asset value (NAV) per share as of September 30, 2025 was $21.99, compared to $21.93 as of June 30, 2025. • New investment fundings in the third quarter were approximately $1.1 billion. Net investment activity in the third quarter wa s $109 million, including $450 million of sales to Credit Opportunities Partners JV, LLC (COPJV). Distribution/Dividend • Paid a total distribution of $0.70 per share for the third quarter of 2025, consisting of a $0.64 per share base distribution and a $0.06 per share supplemental distribution. • Declared a distribution of $0.70 per share for the fourth quarter of 2025, which consists of a base distribution amount of $0 .64 per share and a supplemental distribution amount of $0.06 per share. • On November 5, 2025, the company announced its current intent for its 2026 quarterly distribution strategy which is expected to consist of a quarterly base distribution amount of $0.45 per share and a quarterly supplemental distribution which will vary over time based on the company's overall level of net investment income. For the first quarter of 2026, the company currently expects the total distribution will approximate $0.55 per share which equates to an an nualized yield of approximately 10% on the company's September 30, 2025 NAV per share.(2) • Dividend yield on NAV per share was 12.7% and dividend yield on market value of common stock was 18.6% as of October 31, 2025 (3). Portfolio Diversification • Defensively positioned portfolio with 224 portfolio companies spread across 23 industries. • Exposure to the top ten largest portfolio companies by fair value was 20% as of September 30, 2025. Capital Structure • 64% of our drawn leverage was unsecured as of September 30, 2025 and our weighted average effective rate on borrowings was 5.3%. • $3.7 billion of liquidity in undrawn debt, cash, and unsettled trades. • In the third quarter, we issued $400mm of 6.125% unsecured notes due 2031. • 90% of our liabilities mature in 2027 and beyond. 1. See the Appendix for a reconciliation between NII and Adjusted NII. 2. The timing and amount of any future distributions on FSK’s shares of common stock are subject to applicable legal restrictions and the sole discretion of its board of directors. There can be no assurance as to the amount or timing of any such future distributions. 3. Based on the declared full year 2025 total distribution of $2.80 per share as a percentage of FSK’s NAV per share of $21.99 and FSK’s closing market price as of October 31, 2025. 2
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Financial Results Note: Per share data derived using the weighted average shares outstanding during the period, except NAV per share, which is based on shares outstanding at the end of the period. Numbers may not sum due to rounding. 1. See the Appendix for a reconciliation between NII and Adjusted NII. 2. Includes cash, restricted cash, cash denominated in foreign currency, and cash equivalents. 3. Principal amount outstanding. 4. Net debt-to-equity ratio is debt outstanding, net of cash, foreign currency, cash equivalents and net payable/receivable for inv estments purchased/sold and repaid, divided by net assets. 3 (Dollar amounts in millions, except per share data) 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 NII per share $0.77 $0.61 $0.67 $0.62 $0.57 Adjusted NII per share(1) $0.74 $0.66 $0.65 $0.60 $0.57 Net realized and unrealized gains (losses) per share ($0.20) ($0.09) ($0.24) ($1.36) $0.19 Adjusted net realized and unrealized gains (losses) per share ($0.17) ($0.07) ($0.22) ($1.34) $0.21 Net increase (decrease) in net assets resulting from operations (earnings per share) $0.57 $0.52 $0.43 ($0.75) $0.76 Base stockholder distributions declared per share $0.64 $0.64 $0.64 $0.64 $0.64 Supplemental stockholder distributions declared per share $0.06 $0.06 $0.06 $0.06 $0.06 Net asset value per share at period end $23.82 $23.64 $23.37 $21.93 $21.99 Weighted average shares outstanding (in millions) 280.1 280.1 280.1 280.1 280.1 Shares outstanding, end of period (in millions) 280.1 280.1 280.1 280.1 280.1 Total investments at fair value $13,943 $13,490 $14,122 $13,648 $13,415 Total assets $15,149 $14,219 $14,915 $14,593 $13,909 Cash and cash equivalents(2) $371 $296 $472 $312 $155 Total debt(3) $8,084 $7,385 $8,009 $8,022 $7,369 Debt-to-equity, Net(4) 1.09x 1.04x 1.14x 1.20x 1.16x Adjusted NII / base distribution declared 116% 103% 102% 94% 89% Adjusted NII / total stockholder distributions declared 106% 94% 93% 86% 81%
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As of and for Three Months Ended (Dollar amounts in millions) 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 Investment at Fair Value: First Lien Senior Secured Loans 59.9% 57.8% 58.1% 59.0% 58.0% Second Lien Senior Secured Loans 6.2% 5.1% 4.8% 4.9% 4.8% Other Senior Secured Debt 0.9% 0.9% 0.4% 0.2% 0.4% Subordinated Debt 1.6% 1.7% 1.7% 1.6% 1.6% Asset Based Finance 14.3% 15.6% 15.4% 14.7% 14.4% Credit Opportunities Partners JV, LLC 9.9% 10.1% 11.8% 12.0% 13.3% Preferred Equity(1) 5.3% 6.6% 5.8% 5.8% 5.9% Equity/Other 1.9% 2.2% 2.0% 1.8% 1.6% Total Investments $13,943 $13,490 $14,122 $13,648 $13,415 Number of portfolio companies(2) 217 214 224 218 224 Interest Rate Type:(3) % Floating Rate 89.3% 87.4% 89.1% 89.1% 87.9% % Fixed Rate 10.7% 12.6% 10.9% 10.9% 12.1% Net Interest Margin: Weighted average annual yield on accruing debt investments(4) 11.5% 11.0% 10.8% 10.6% 10.5% Weighted average effective interest rate on borrowings(5) 5.5% 5.4% 5.5% 5.3% 5.3% Portfolio Highlights 1. Included within Equity/Other in FSK’s Quarterly and Annual Reports on Form 10 -Q and 10-K, respectively. 2. Does not look through to FSK’s portfolio companies held solely in COPJV. COPJV is a joint venture between FSK and South Carol ina Retirement Systems Group Trust (SCRS). 3. Represents interest rates on debt investments (see FSK’s Quarterly Report on Form 10 -Q for the definition of debt investments) a t US$ fair value. Floating Rate includes variable interest rates on Asset Based Finance investments that can change quarter to quarter. 4. Excludes the impact of the merger in Q2 2021. On June 16, 2021, FSK completed its merger (the “Merger”) with FS KKR Capital C orp. II. Pursuant to the Merger, FS KKR Capital Corp. II merged with and into FSK, with FSK continuing as the surviving company. Excluding the impact of the Merger, FSK’s weighted average annual yield on all debt investments was 9.7% as of September 30, 2025. See FSK’s Quarterly Report on Form 1 0-Q for additional information on the calculation of weighted average annual yield on accruing debt investments and weighted aver age annual yield on all debt investments. On a GAAP basis, FSK’s weighted average annual yield was 10.6% on accruing debt investments and 9.8% on all debt investments as of September 30, 2025. 5. Includes the effect of non-usage fees. 4
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Note: Does not look through to FSK’s portfolio companies held solely in COPJV unless otherwise stated. 1. Looking through to the investments in COPJV, senior secured investments total 72.7% as of September 30, 2025. 2. Based on underlying Direct Origination corporate investments using most recently reported financial information and may include pro forma adjustments. Certain Asset Based Finance, Equity/Other and portfolio companies with negative or de minimis EBITDA are excluded. 3. Figure excludes the impact of FSK’s investment in COPJV. 4. Excludes the impact of the Merger. See FSK’s Quarterly Report on Form 10-Q for additional information on the calculation of weighted average annual yield on accruing debt investments. On a GAAP basis, FSK’s weighted average annual yield on accruing debt investments was 10.6% as of September 30, 2025. 5. Included within Equity/Other in FSK’s Quarterly and Annual Reports on Form 10-Q and 10-K, respectively. FSK Investment Portfolio Overview Investment Portfolio Summary Security Exposure (by fair value) $13.4bn 224 2.9% 63.2% 19.8% Portfolio Fair Value Portfolio Companies Non-accrual rate at FV Senior Secured Investments(1) Top 10 Concentration(3) 5 23 Industries 58.0% 4.8%0.4% 1.6% 14.4% 13.3% 5.9% 1.6% Senior Secured Loans—First Lien Senior Secured Loans—Second Lien Other Senior Secured Debt Subordinated Debt Asset Based Finance Credit Opportunities Partners JV, LLC Preferred Equity Equity/Other 17.4% 13.3% 13.1% 12.1% 11.9% 6.1% 4.8% 4.0% 2.5% 2.5% 12.3% Software & Services Credit Opportunities Partners JV, LLC Commercial & Professional Services Health Care Equipment & Services Capital Goods Financial Services Media & Entertainment Insurance Consumer Services Materials Other Sector Exposure (by fair value) (5) $115mm / 5.9x Median portfolio company EBITDA & leverage(2) 10.5% Weighted Average Yield on Accruing Debt Investments(4)
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Quarterly Investment Activity 6 Asset Mix of New Purchases(1) (2) 1. Any amount less than 0.5% is reflected as zero. 2. Included within Equity/Other in FSK’s Quarterly and Annual Reports on Form 10-Q and 10-K, respectively. 3. Includes net sales to COPJV. Portfolio Roll ($ in millions) 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 Investment Purchases $1,136 $891 $1,998 $1,400 $1,142 Sales and Redemptions(3) (1,321) (1,462) (1,407) (1,650) (1,483) Net Investment Activity ($185) ($571) $591 ($250) ($341) Net Sales to COPJV 370 - 290 561 450 Adjusted Net Investment Activity $185 ($571) $881 $311 $109 1% 2% 1% 0%15% 12%16% 36% 19% 12% 15% 0% 0% 5% 7% 1% 0% 84% 63% 63% 83% 65% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 $1,136 $891 $1,998 $1,400 $1,151
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Net Asset Value Bridge $21.93 $21.93 $22.49 $22.49 $21.86 $21.86 $22.05 $21.99 $21.99 $0.57 ($0.01) $0.01 ($0.64) $0.19 ($0.06) 6/30/2025 NAV Adjusted Net Investment Income Excise Tax Merger Accretion Base Distribution Net Realized & Unrealized Gains Operating NAV Supplemental Distribution 9/30/2025 Ending NAV Note: Per share data derived using the weighted average shares outstanding during the period, except NAV per share, which is based on shares outstanding at the end of the period. Numbers may not sum due to rounding. 7
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Available Debt $3.5bn Cash $0.2bn 1. Net debt-to-equity ratio is debt outstanding, net of cash and foreign currency and net payable/receivable for investments purcha sed/sold and repaid, divided by net assets. 2. Weighted average effective interest rate on borrowings, including the effect of non -usage fees. 3. Amount available for borrowing reduced by any standby letters of credit issued. As of September 30, 2025, $41mm of such letters of credit have been issued. 4. FSK entered into interest rate swaps in connection with the issuances of the 6.875% Notes due 2029, 6.125% Notes due 2030, and 6.125% Notes du e 2031. See Note 7 to FSK’s consolidated financial statements included in the quarterly report on Form 10 -Q for more information o n the interest rate swaps. Capital Structure: Overview Key Highlights • 1.16x Net Debt-to-Equity as of September 30, 2025, compared to 1.20x as of June 30, 2025 (1) • In Q3, we issued $400mm of 6.125% unsecured notes due 2031; fixed rate coupon was subsequently swapped to floating rate via interest rate swap agreement at a weighted average spread of SOFR+2.748% • 5.29% weighted average effective rate on borrowings as of September 30, 2025, compared to 5.34% as of June 30, 2025(2) • Rated Investment Grade by Moody’s (Baa3), Fitch (BBB-), and Kroll (BBB) • 64% of drawn leverage and 44% of committed leverage is unsecured as of September 30, 2025 • Weighted average maturity of 4.0 years as of September 30, 2025 90% of our liabilities mature in 2027 and beyond9/30/2025 Liquidity: $3.7bn - 1,059 900 1,050 1,200 6,700 2025 2026 2027 2028 2029 2030+ Revolver Funding Source Committed Outstanding Undrawn Maturity Wtd. Avg. Rate Senior Secured Revolver due 2030 4,700 1,258 3,401(3) 7/16/2030 S+1.65% - 1.78% Additional Bilateral Facilities 959 861 98 Various Various Total Secured 5,659 2,119 3,499 FS KKR MM CLO 1 120 120 - 1/15/2031 3.01% - S+1.85% KKR – FSK CLO 2 380 380 - 4/15/2037 S+1.48% - 2.15% Total CLO 500 500 - 3.400% Notes due 2026 1,000 1,000 - 1/15/2026 3.400% 2.625% Notes due 2027 400 400 - 1/15/2027 2.625% 3.250% Notes due 2027 500 500 - 7/15/2027 3.250% 3.125% Notes due 2028 750 750 - 10/12/2028 3.125% 7.875% Notes due 2029 400 400 - 1/15/2029 7.875% 6.875% Notes due 2029 600 600 - 8/15/2029 S+2.777%(4) 6.125% Notes due 2030 700 700 - 1/15/2030 S+2.127%(4) 6.125% Notes due 2031 400 400 - 1/15/2031 S+2.748%(4) Total Unsecured 4,750 4,750 - TOTAL 10,909 7,369 3,499 5.29%(2) Capital Structure Overview Liquidity Analysis Long Term Maturity Ladder 8
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Long Term Maturity Ladder Credit Opportunities Partners JV, LLC Overview FSK’s joint venture with South Carolina Retirement Systems Group Trust (SCRS) Primarily senior secured assets Key Portfolio Benefits • Allows FSK to access the full capabilities of KKR platform • Yield enhancing Key Terms of the Partnership • FSK and SCRS share voting control 50% / 50% • Equity ownership 87.5% FSK / 12.5% SCRS • FSK provides day-to-day administrative oversight September 30, 2025 update Key stats • NAV of $2.0bn (FSK’s equity of COPJV was $1.8bn) • $500mm of uncalled equity capital ($438mm allocated to FSK) • 1.22x net debt-to-equity ratio(1) Portfolio • Fair value of investments was $4.6bn • 84% floating rate debt investments 9 Security Exposure (by fair value) Sector Exposure (by fair value) Capital Structure 70.4% 1.0%0.8% 4.7% 16.5% 6.6% Senior Secured Loans—First Lien Senior Secured Loans—Second Lien Other Senior Secured Debt Subordinated Debt Asset Based Finance Equity/Other 18.7% 14.4% 13.8% 10.0% 9.9% 7.2% 5.1% 4.8% 3.9% 3.7% 8.5% Software & Services Capital Goods Financial Services Health Care Equipment & Services Commercial & Professional Services Pharmaceuticals, Biotechnology & Life Sciences Consumer Services Insurance Equity Real Estate Investment Trusts (REITs) Transportation Other 1. Net debt-to-equity ratio is debt outstanding, net of cash and foreign currency and net payable/receivable for investments purchased/sold and repaid, divided by net assets. 2. Includes the effect of non-usage fees. Total debt: committed $2.9bn, funded $2.5bn Unsecured debt: 34% committed, 38% drawn Wtd. average interest rate on borrowings: 5.76%(2) - 525 - 95 1,900 355 2025 2026 2027 2028 2029 2030+ Unsecured Revolver
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Direct Origination Investments EBITDA and Credit Statistics 6.0x 6.1x 6.0x 6.0x 6.0x 6.0x 5.9x 6.0x 6.1x 5.9x 5.7x 5.8x 5.9x 2.3x 1.9x 1.7x 1.6x 1.5x 1.5x 1.6x 1.6x 1.6x 1.7x 1.7x 1.8x 1.8x 0.0x 1.0x 2.0x 3.0x 4.0x 5.0x 6.0x 7.0x Median Leverage Coverage Multiple Median Interest Coverage Ratio Direct Origination Portfolio Company EBITDA Direct Origination Portfolio Company Coverage Ratios $99 $114 $114 $115 $118 $111 $111 $124 $121 $116 $120 $114 $115 $207 $204 $203 $202 $212 $236 $218 $225 $237 $239 $255 $252 $240 Median EBITDA Weighted Average EBITDA Note: Based on underlying Direct Origination corporate investments using most recently reported financial information and may include pro forma adjustments. Prior periods are shown pro forma for the Merger. Certain Asset Based Finance, Equity/Other and portfolio companies with negative or de minimis EBITDA are excluded. Does not look through to FSK’s portfolio companies held solely in COPJV. Weighted Average EBITDA based on amortized cost. 10
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APPENDIX
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For The Three Months Ended (Dollar amounts in millions, except per share data) 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 Total investment income $441 $407 $400 $398 $373 Net expenses (226) (213) (213) (225) (210) Net investment income before taxes $215 $194 $187 $173 $163 Excise taxes - (23) - - (4) Net investment income $215 $171 $187 $173 $159 Plus: excise taxes (net of incentive fee impact) - 19 - - 4 Plus: net merger accretion and one-time expenses(1) (7) (5) (5) (5) (4) Adjusted net investment income(2) $208 $185 $182 $168 $159 Total net unrealized and realized gains (losses) (55) (24) (67) (368) 55 Provision for taxes on realized gains on investments - - - (11) - Realized loss on extinguishment of debt - - - (3) - Net increase (decrease) in net assets resulting from operations $160 $147 $120 ($209) $214 Per Share: Net investment income $0.77 $0.61 $0.67 $0.62 $0.57 Adjusted net investment income(2) $0.74 $0.66 $0.65 $0.60 $0.57 Net increase (decrease) in net assets results from operations $0.57 $0.52 $0.43 ($0.75) $0.76 Stockholder distributions $0.70 $0.70 $0.70 $0.70 $0.70 Weighted average shares outstanding (millions) 280.1 280.1 280.1 280.1 280.1 Shares outstanding, end of period (millions) 280.1 280.1 280.1 280.1 280.1 Operating Results 1. Net merger accretion represents a reversal of all Merger-related accretion for the specified period. 2. Adjusted net investment income is a non-GAAP financial measure. Adjusted net investment income is presented for all periods as GAAP net investment income excluding (i) the accrual for the capital gains incentive fee for realized and unrealized gains; (ii) excise taxes; (iii) the impact of accretion resulting from merger accounting; and (iv) certain non-recurring operating expenses that are one-time in nature and are not representative of ongoing operating expenses incurred during FSK’s normal course of business (referred to herein as one-time expenses). FSK uses this non-GAAP financial measure internally in analyzing financial results and believes that the use of this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends and in comparing its financial results with other business development companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. 12
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Operating Results Detail For The Three Months Ended (Dollar amounts in millions, except per share data) 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 Investment income: Interest income $290 $257 $240 $245 $231 Payment-in-kind interest income 66 67 62 53 54 Fee income 21 7 17 9 4 Total dividend and other income 64 76 81 91 84 Total investment income $441 $407 $400 $398 $373 Operating expenses: Investment advisory fees & expenses 54 53 52 53 51 Interest expense 118 116 113 125 116 Incentive fees 44 35 39 36 33 Other operating expenses 10 9 9 11 10 Total operating expenses $226 $213 $213 $225 $210 Net investment income before taxes $215 $194 $187 $173 $163 Income taxes, including excise taxes - (23) - - (4) Net investment income $215 $171 $187 $173 $159 Total net unrealized and realized gains (losses) (55) (24) (67) (368) 55 Provision for taxes on realized gains on investments - - - (11) - Realized loss on extinguishment of debt - - - (3) - Net increase in net assets resulting from operations $160 $147 $120 ($209) $214 13
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As of (Dollar amounts in millions, except per share data) 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 Assets Total investments, at fair value $13,943 $13,490 $14,122 $13,648 $13,415 Cash and cash equivalents 366 278 289 244 119 Foreign currency, at fair value 5 18 183 68 36 Receivable for investments sold and repaid 468 186 65 320 48 Income receivable 313 187 180 194 209 Unrealized appreciation on foreign currency forward contracts - 3 - - - Deferred financing costs 27 26 26 24 36 Prepaid expenses and other assets 27 31 50 95 46 Total Assets $15,149 $14,219 $14,915 $14,593 $13,909 Liabilities Payable for investments purchased $1 $2 $3 $3 $2 Debt 8,060 7,351 7,989 8,041 7,356 Unrealized depreciation on derivative instruments 10 1 8 18 15 Shareholders’ distributions payable 196 - 196 196 196 Interest payable 99 108 65 80 70 Other liabilities(1) 112 135 108 114 111 Total Liabilities $8,478 $7,597 $8,369 $8,452 $7,750 Total Net Assets $6,671 $6,622 $6,546 $6,141 $6,159 Net Asset Value per Share $23.82 $23.64 $23.37 $21.93 $21.99 Balance Sheet 1. Includes accrued performance-based incentive fees, accrued investment advisory fees, accrued directors’ fees, administrative expenses payable and deferred tax liabilities. 14
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Quarterly Gain/Loss Information For The Three Months Ended (Dollar amounts in millions, except per share data) 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 Realized gain/loss Net realized gain (loss) on investments: Non-controlled/unaffiliated investments ($24) ($134) ($40) ($66) ($25) Non-controlled/affiliated investments (26) (27) 9 (1) (10) Controlled/affiliated investments 7 25 13 (68) (18) Net realized gain (loss) on foreign currency forward contracts 1 (1) 0 (3) - Net realized gain (loss) on foreign currency (2) (4) 1 (6) (20) Total net realized gain (loss) ($44) ($141) ($17) ($144) ($73) Unrealized gain/loss Net change in unrealized appreciation (depreciation) on investments: Non-controlled/unaffiliated investments ($3) $91 $58 $58 ($47) Non-controlled/affiliated investments 78 36 (20) (62) 6 Controlled/affiliated investments (53) (70) (52) (151) 141 Net change in unrealized appreciation (depreciation) on foreign currency forward contracts (6) 12 (10) (10) 3 Net change in unrealized gain (loss) on foreign currency (27) 48 (26) (59) 25 Total net unrealized gain (loss) ($11) $117 ($50) ($224) $128 Total net realized and unrealized gain (loss) ($55) ($24) ($67) ($368) $55 15
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Forward-Looking Statements Statements included herein may constitute “forward-looking” statements as that term is defined in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to future events or the future performance or operations of FS KKR Capital Corp. (“FSK”). Words such as “believes,” “expects,” “projects,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, geo-political risks, risks associated with possible disruption to FSK’s operations or the economy generally due to terrorism, natural disasters or pandemics, future changes in laws or regulations and conditions in FSK’s operating area, and the price at which shares of FSK’s common stock trade on the New York Stock Exchange. Some of these factors are enumerated in the filings FSK made with the U.S. Securities and Exchange Commission (the “SEC”). The inclusion of forward-looking statements should not be regarded as a representation that any plans, estimates or expectations will be achieved. Any forward-looking statements speak only as of the date of this communication. Except as required by federal securities laws, FSK undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements. This presentation contains summaries of certain financial and statistical information about FSK. The information contained in this presentation is summary information that is intended to be considered in the context of FSK’s SEC filings and other public announcements that FSK may make, by press release or otherwise, from time to time. FSK undertakes no duty or obligation to update or revise the information contained in this presentation. In addition, information related to past performance, while helpful as an evaluative tool, is not necessarily indicative of future results, the achievement of which cannot be assured. Investors should not view the past performance of FSK, or information about the market, as indicative of FSK’s future results. This presentation contains certain prospective financial information with respect to FSK’s estimated future performance. FSK’s independent auditors have not audited, reviewed, compiled, or performed any procedures with respect to such information for the purpose of their inclusion in this presentation and, accordingly, have not expressed an opinion or provided any other form of assurance with respect thereto for purposes of the presentation. In this presentation, certain of such prospective financial information has been included (in each case, with an indication that the information is an estimate and is subject to the qualifications presented herein) for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. There can be no assurance that the prospective financial information is indicative of the future performance of FSK or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. The prospective financial information reflects assumptions that are subject to change, and there can be no assurance that FSK’s financial condition or results of operations will be consistent with those set forth in such prospective financial information. The prospective financial information, guidance and other forward-looking statements included herein are effective only on the date given. In accordance with our policy, we will not update, reaffirm or otherwise comment on any prospective financial information, guidance or other forward-looking statements in connection with this presentation, except as may be required by law. No reference made to any prior financial guidance or other forward-looking statements in connection with this presentation should be construed to update, reaffirm or otherwise comment on such prior financial guidance or other forward-looking statements. This presentation contains certain financial measures that have not been prepared in accordance with U.S. generally accepted accounting principles (GAAP). FSK uses these non-GAAP financial measures internally in analyzing financial results and believes that the presentation of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing results and trends and in comparing FSK’s financial results with other business development companies. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with FSK’s consolidated financial statements prepared in accordance with GAAP. Certain figures in this presentation have been rounded. Important Disclosure Notice 16