On September 15, 2023, Franklin BSP Lending Corporation entered into a Second Amendment to the Amended and Restated Loan and Security Agreement, dated as of April 12, 2021, by and among the Corporation, the Subsidiary, JPMorgan Chase Bank, National Association, as administrative agent (? JPM?), U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator and U.S. Bank National Association as securities intermediary (as amended and together with the Second Amendment, the ? Loan and Security Agreement?).

The Second Amendment, among other things, (1) extends the maturity date of the Loan and Security Agreement from August 28, 2025 to September 15, 2027, (2) changes the applicable margin for advances made to the Subsidiary under the Loan and Security Agreement from SOFR plus 3.00% (subject to further increases consistent with the terms of the Loan and Security Agreement) to SOFR plus 2.80% (subject to further increases consistent with the terms of the Loan and Security Agreement), which is inclusive of an administrative agent fee, (3) extends the reinvestment period from August 28, 2024 to September 15, 2026, increases the financing amount for which the Subsidiary can submit a commitment increase request up to $800,000,000, and amends the unused commitment fee of 0.75% to include the administrative agent fee. The Subsidiary paid an upfront fee and incurred other customary costs and expenses in connection with the Second Amendment.