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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 and Year Ended December 31, 2025 All information is as of December 31, 2025 unless otherwise noted
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Summary Fourth Quarter Performance • Net investment income (NII) for the quarter ended December 31, 2025 was $135 million, or $0.48 per share, as compared to $159 million, or $0.57 per share, for the quarter ended September 30, 2025. • Adjusted net investment income (Adjusted NII) for the quarter ended December 31, 2025 was $147 million, or $0.52 per share, a s compared to $159 million, or $0.57 per share, for the quarter ended September 30, 2025 (1). • Net asset value (NAV) per share as of December 31, 2025 was $20.89, compared to $21.99 as of September 30, 2025. • New investment fundings in the fourth quarter were approximately $1.1 billion. Net investment activity in the fourth quarter was $292 million, including $528 million of sales to Credit Opportunities Partners JV, LLC (COPJV). Distribution/Dividend • Paid a total distribution of $0.70 per share for the fourth quarter of 2025, consisting of a $0.64 per share base distribution and a $0.06 per share supplemental distribution. • Declared a distribution of $0.48 per share for the first quarter of 2026, which consists of a base distribution amount of $0.45 per share and a supplemental distribution amount of $0.03 per share. • For the quarter ended December 31, 2025, the Adjusted NII / base dividend coverage ratio was 116% (2). • For the quarter ended December 31, 2025, the Adjusted NII / total dividend coverage ratio was 108% (3). • Dividend yield on NAV per share was 9.2% and dividend yield on market value of common stock was 14.8% as of February 20, 2026 (4). Portfolio Diversification • Defensively positioned portfolio with 232 portfolio companies spread across 23 industries. • Exposure to the top ten largest portfolio companies by fair value was 19% as of December 31, 2025. Capital Structure • 62% of our drawn leverage was unsecured as of December 31, 2025 and our weighted average effective rate on borrowings was 5.1%. • $3.8 billion of liquidity in undrawn debt, cash, and unsettled trades. • In the fourth quarter, we closed KKR FSK CLO 3, issuing $363mm of notes to third parties at a weighted average rate of S+1.57 %. • 90% of our liabilities mature in 2027 and beyond. 1. See the Appendix for a reconciliation between NII and Adjusted NII. 2. Based on the declared first quarter base distribution of $0.45 per share. 3. Based on the declared first quarter total distribution of $0.48 per share. 4. Based on the declared first quarter distribution of $0.48 per share annualized as a percentage of FSK’s NAV per share of $20.89 and FSK’s closing market price as of February 20, 2026. 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) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 NII per share $0.61 $0.67 $0.62 $0.57 $0.48 Adjusted NII per share(1) $0.66 $0.65 $0.60 $0.57 $0.52 Net realized and unrealized gains (losses) per share ($0.09) ($0.24) ($1.36) $0.19 ($0.89) Adjusted net realized and unrealized gains (losses) per share ($0.07) ($0.22) ($1.34) $0.21 ($0.88) Net increase (decrease) in net assets resulting from operations (earnings per share) $0.52 $0.43 ($0.75) $0.76 ($0.41) Base stockholder distributions declared per share $0.64 $0.64 $0.64 $0.64 $0.45 Supplemental stockholder distributions declared per share $0.06 $0.06 $0.06 $0.06 $0.03 Net asset value per share at period end $23.64 $23.37 $21.93 $21.99 $20.89 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 $13,490 $14,122 $13,648 $13,415 $13,009 Total assets $14,219 $14,915 $14,593 $13,909 $13,729 Cash and cash equivalents(2) $296 $472 $312 $155 $208 Total debt(3) $7,385 $8,009 $8,022 $7,369 $7,620 Debt-to-equity, Net(4) 1.04x 1.14x 1.20x 1.16x 1.22x Adjusted NII / base distribution declared 103% 102% 94% 89% 116% Adjusted NII / total stockholder distributions declared 94% 93% 86% 81% 108%
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As of and for Three Months Ended (Dollar amounts in millions) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Investment at Fair Value: First Lien Senior Secured Loans 57.8% 58.1% 59.0% 58.0% 57.8% Second Lien Senior Secured Loans 5.1% 4.8% 4.9% 4.8% 4.2% Other Senior Secured Debt 0.9% 0.4% 0.2% 0.4% 0.4% Subordinated Debt 1.7% 1.7% 1.6% 1.6% 1.0% Asset Based Finance 15.6% 15.4% 14.7% 14.4% 13.0% Credit Opportunities Partners JV, LLC 10.1% 11.8% 12.0% 13.3% 15.1% Preferred Equity(1) 6.6% 5.8% 5.8% 5.9% 6.1% Equity/Other 2.2% 2.0% 1.8% 1.6% 2.4% Total Investments $13,490 $14,122 $13,648 $13,415 $13,009 Number of portfolio companies(2) 214 224 218 224 232 Interest Rate Type:(3) % Floating Rate 87.4% 89.1% 89.1% 87.9% 88.1% % Fixed Rate 12.6% 10.9% 10.9% 12.1% 11.9% Net Interest Margin: Weighted average annual yield on accruing debt investments(4) 11.0% 10.8% 10.6% 10.5% 10.0% Weighted average effective interest rate on borrowings(5) 5.4% 5.5% 5.3% 5.3% 5.1% Portfolio Highlights 1. Included within Equity/Other in FSK’s Quarterly and Annual Reports on Form 10 -Q and 10-K, respectively. 2. Does not look through to FSK’s portfolio companies held solely in COPJV. COPJV is a joint venture between FSK and South Carol ina Retirement Systems Group Trust (SCRS). 3. Represents interest rates on debt investments (see FSK’s Annual Report on Form 10 -K for the definition of debt investments) at U S$ 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 9.2% as of December 31, 2025. See FSK’s Annual Report on Form 10 -K for additional information on the calculation of weighted average annual yield on accruing debt investments and weighted average annual yield on all debt investments. On a GAAP basis, FSK’s weighted average annual yield was 10.1% on accruing debt investments and 9.3% on all debt investments as of December 31, 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 72.1% as of December 31, 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 Annual Report on Form 10-K 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 10.1% as of December 31, 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) $13.0bn 232 3.4% 62.4% 19.4% Portfolio Fair Value Portfolio Companies Non-accrual rate at FV Senior Secured Investments(1) Top 10 Concentration(3) 5 23 Industries 57.8% 4.2% 0.4% 1.0% 13.0% 15.1% 6.1% 2.4% 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 16.4% 15.1% 13.3% 12.8% 11.9% 6.4% 4.2% 3.9% 2.4% 2.2% 11.4% Software & Services Credit Opportunities Partners JV, LLC Commercial & Professional Services Health Care Equipment & Services Capital Goods Financial Services Insurance Media & Entertainment Consumer Durables & Apparel Transportation Other Sector Exposure (by fair value) (5) $132mm / 5.8x Median portfolio company EBITDA & leverage(2) 10.0% Weighted Average Yield on Accruing Debt Investments(4)
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Quarterly Investment Activity 6 Asset Mix of New Purchases(1) (2) 1. Any amount less than 0.5% is reflected as zero. 2. Included within Equity/Other in FSK’s Quarterly and Annual Reports on Form 10-Q and 10-K, respectively. 3. Includes net sales to COPJV. Portfolio Roll ($ in millions) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Investment Purchases $891 $1,998 $1,400 $1,142 $1,098 Sales and Redemptions(3) (1,462) (1,407) (1,650) (1,483) (1,334) Net Investment Activity ($571) $591 ($250) ($341) ($236) Net Sales to COPJV - 290 561 450 528 Adjusted Net Investment Activity ($571) $881 $311 $109 $292 1% 2% 1% 2% 0% 0%15% 12% 18%36% 19% 12% 15% 15%0% 0% 5% 7% 1% 0% 63% 63% 83% 65% 65% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $891 $1,998 $1,400 $1,142 $1,098
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Net Asset Value Bridge $21.99 $21.99 $22.46 $22.47 $21.83 $20.95 $20.95 $20.95 $20.89 $0.52 ($0.05) $0.01 ($0.64) ($0.89) ($0.06) 9/30/2025 NAV Adjusted Net Investment Income Excise Tax Merger Accretion Base Distribution Net Realized & Unrealized Losses Operating NAV Supplemental Distribution 12/31/2025 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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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 December 31, 2025, $50mm of such letters of credit have been issued. 4. 3.400% Notes due 2026 matured and were redeemed on January 15, 2026. 5. FSK entered into interest rate swaps in connection with the issuances of the 6.875% Notes due 2029, 6.125% Notes due 2030, an d 6.125% Notes due 2031. See Note 7 to FSK’s consolidated financial statements included in the annual report on Form 10 -K for more information on the interest rate swaps. Capital Structure: Overview Key Highlights • 1.22x Net Debt-to-Equity as of December 31, 2025, compared to 1.16x as of September 30, 2025 (1) • In Q4, we closed KKR FSK CLO 3, issuing $363mm of notes to third parties at a weighted average rate of S+1.57% • 5.08% weighted average effective rate on borrowings as of December 31, 2025, compared to 5.29% as of September 30, 2025(2) • Rated Investment Grade by Moody’s (Baa3), Fitch (BBB-), and Kroll (BBB) • 62% of drawn leverage and 43% of committed leverage is unsecured as of December 31, 2025 • Weighted average maturity of 4.0 years as of December 31, 2025 90% of our liabilities mature in 2027 and beyond12/31/2025 Liquidity: $3.8bn 1,045 900 1,050 1,000 5,800 1,143 2026 2027 2028 2029 2030 2031+ Revolver Funding Source Committed Outstanding Undrawn Maturity Wtd. Avg. Rate Senior Secured Revolver due 2030 4,700 1,533 3,117(3) 7/16/2030 S+1.75% - 1.88% Additional Bilateral Facilities 745 594 151 Various Various Total Secured 5,445 2,127 3,268 KKR – FSK CLO 2 380 380 - 4/15/2037 S+1.48% - 2.15% KKR – FSK CLO 3 363 363 - 1/15/2038 S+1.47% - 2.10% Total CLO 743 743 - 3.400% Notes due 2026 1,000 1,000 - 1/15/2026(4) 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%(5) 6.125% Notes due 2030 700 700 - 1/15/2030 S+2.127%(5) 6.125% Notes due 2031 400 400 - 1/15/2031 S+2.748%(5) Total Unsecured 4,750 4,750 - TOTAL 10,938 7,620 3,268 5.08%(2) Capital Structure Overview Liquidity Analysis Long Term Maturity Ladder 8 Available Debt $3.3bn Cash $0.2bn Unsettled Trades $0.3bn (4)
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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 December 31, 2025 update Key stats • NAV of $2.2bn (FSK’s equity of COPJV was $2.0bn) • $280mm of uncalled equity capital ($245mm allocated to FSK) • 1.27x net debt-to-equity ratio(1) Portfolio • Fair value of investments was $5.1bn • 83% floating rate debt investments 9 Security Exposure (by fair value) Sector Exposure (by fair value) Capital Structure 67.7%0.6% 0.7% 5.9% 19.1% 6.0% Senior Secured Loans—First Lien Senior Secured Loans—Second Lien Other Senior Secured Debt Subordinated Debt Asset Based Finance Equity/Other 20.8% 14.5% 13.1%10.1% 9.0% 6.3% 5.9% 4.1% 3.9% 3.5% 8.8% Software & Services Capital Goods Financial Services Commercial & Professional Services Health Care Equipment & Services Consumer Services Pharmaceuticals, Biotechnology & Life Sciences Transportation Insurance Equity Real Estate Investment Trusts (REITs) Other 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. Includes the effect of non-usage fees. Total debt: committed $2.9bn, funded $2.8bn Unsecured debt: 34% committed, 35% drawn Wtd. average interest rate on borrowings: 5.49%(2) 525 - 95 1,900 170 185 2026 2027 2028 2029 2030 2031+ Unsecured Revolver Subsequent events Updates • On February 23, 2026 SCRS increased its investment in COPJV by $189mm, updating the equity ownership of COPJV to 78.9% FSK / 21.1% SCRS • $455mm of uncalled equity capital ($434mm allocated to FSK) • On February 18, 2026 COPJV priced $300mm of 3-year unsecured bonds; the transaction is expected to close March 31, 2026, subject to customary closing conditions • $270mm fixed rate at 6.89% and $30mm at S+3.56%
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Direct Origination Investments EBITDA and Credit Statistics 6.1x 6.0x 6.0x 6.0x 6.0x 5.9x 6.0x 6.1x 5.9x 5.7x 5.8x 5.9x 5.8x 1.9x 1.7x 1.6x 1.5x 1.5x 1.6x 1.6x 1.6x 1.7x 1.7x 1.8x 1.8x 1.9x 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 $114 $114 $115 $118 $111 $111 $124 $121 $116 $120 $114 $115 $132 $204 $203 $202 $212 $236 $218 $225 $237 $239 $255 $252 $240 $236 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) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Total investment income $407 $400 $398 $373 $348 Net expenses (213) (213) (225) (210) (195) Net investment income before taxes $194 $187 $173 $163 $153 Excise taxes (23) - - (4) (18) Net investment income $171 $187 $173 $159 $135 Plus: excise taxes (net of incentive fee impact) 19 - - 4 15 Plus: net merger accretion and one-time expenses(1) (5) (5) (5) (4) (3) Adjusted net investment income(2) $185 $182 $168 $159 $147 Total net unrealized and realized gains (losses) (24) (67) (368) 55 (244) Provision for taxes on realized gains on investments - - (11) - (1) Realized loss on extinguishment of debt - - (3) - (4) Net increase (decrease) in net assets resulting from operations $147 $120 ($209) $214 ($114) Per Share: Net investment income $0.61 $0.67 $0.62 $0.57 $0.48 Adjusted net investment income(2) $0.66 $0.65 $0.60 $0.57 $0.52 Net increase (decrease) in net assets results from operations $0.52 $0.43 ($0.75) $0.76 ($0.41) 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) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Investment income: Interest income $257 $240 $245 $231 $201 Payment-in-kind interest income 67 62 53 54 55 Fee income 7 17 9 4 6 Total dividend and other income 76 81 91 84 86 Total investment income $407 $400 $398 $373 $348 Operating expenses: Investment advisory fees & expenses 53 52 53 51 50 Interest expense 116 113 125 116 110 Incentive fees 35 39 36 33 28 Other operating expenses 9 9 11 10 7 Total operating expenses $213 $213 $225 $210 $195 Net investment income before taxes $194 $187 $173 $163 $153 Income taxes, including excise taxes (23) - - (4) (18) Net investment income $171 $187 $173 $159 $135 Total net unrealized and realized gains (losses) (24) (67) (368) 55 (244) Provision for taxes on realized gains on investments - - (11) - (1) Realized loss on extinguishment of debt - - (3) - (4) Net increase in net assets resulting from operations $147 $120 ($209) $214 ($114) 13
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As of (Dollar amounts in millions, except per share data) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Assets Total investments, at fair value $13,490 $14,122 $13,648 $13,415 $13,009 Cash and cash equivalents 278 289 244 119 181 Foreign currency, at fair value 18 183 68 36 27 Receivable for investments sold and repaid 186 65 320 48 313 Income receivable 187 180 194 209 98 Unrealized appreciation on foreign currency forward contracts 3 - - - - Deferred financing costs 26 26 24 36 32 Prepaid expenses and other assets 31 50 95 46 69 Total Assets $14,219 $14,915 $14,593 $13,909 $13,729 Liabilities Payable for investments purchased $2 $3 $3 $2 $8 Debt 7,351 7,989 8,041 7,356 7,634 Unrealized depreciation on derivative instruments 1 8 18 15 10 Shareholders’ distributions payable - 196 196 196 - Interest payable 108 65 80 70 77 Other liabilities(1) 135 108 114 111 151 Total Liabilities $7,597 $8,369 $8,452 $7,750 $7,880 Total Net Assets $6,622 $6,546 $6,141 $6,159 $5,849 Net Asset Value per Share $23.64 $23.37 $21.93 $21.99 $20.89 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) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Realized gain/loss Net realized gain (loss) on investments: Non-controlled/unaffiliated investments ($134) ($40) ($66) ($25) ($132) Non-controlled/affiliated investments (27) 9 (1) (10) - Controlled/affiliated investments 25 13 (68) (18) (1) Net realized gain (loss) on foreign currency forward contracts (1) 0 (3) - (6) Net realized gain (loss) on foreign currency (4) 1 (6) (20) (3) Total net realized gain (loss) ($141) ($17) ($144) ($73) ($142) Unrealized gain/loss Net change in unrealized appreciation (depreciation) on investments: Non-controlled/unaffiliated investments $91 $58 $58 ($47) ($55) Non-controlled/affiliated investments 36 (20) (62) 6 (10) Controlled/affiliated investments (70) (52) (151) 141 (44) Net change in unrealized appreciation (depreciation) on foreign currency forward contracts 12 (10) (10) 3 5 Net change in unrealized gain (loss) on foreign currency 48 (26) (59) 25 2 Total net unrealized gain (loss) $117 ($50) ($224) $128 ($102) Total net realized and unrealized gain (loss) ($24) ($67) ($368) $55 ($244) 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