On February 26, 2015, the board of directors of FS Investment Corporation appointed Mr. Philip E. Hughes, Jr. and Mr. Joseph P. Ujobai as new independent members of the board, effective as of April 1, 2015. Mr. Hughes was appointed as a Class B director to serve for a term expiring at the company's 2015 annual meeting of stockholders and was also appointed to serve as a member of the company's audit committee. Mr. Ujobai was appointed to serve as a Class A director for a term expiring at the company's 2017 annual meeting of stockholders and was also appointed to serve as a member of the company's valuation committee.

Philip E. Hughes, Jr. serves as vice-chairman of Keystone Industries, and has done so since November 2011. Mr. Hughes also serves as the president of Sovereign Developers, LP, and has done so since he founded the company in 1999. Mr. Hughes currently serves as a trustee for FS Global Credit Opportunities Fund, FS Global Credit Opportunities Fund A and FS Global Credit Opportunities Fund D, and also serves as the chair of the audit committees for such funds.

Joseph P. Ujobai is an Executive Vice President of SEI Investments Company and also Managing Director of SEI Investments (Europe) Limited based in London. He is responsible for the development of SEI's worldwide private banks and distribution business.