FS KKR Capital : FSK Equity Investor Presentation August 2023

FS KKR Capital Corp.

( N Y S E : F S K )

I n v e s t o r P r e s e n t a t i o n

August 2023

All information is as of June 30, 2023 unless otherwise noted

FS KKR ADVISOR & MARKET OVERVIEW

FS/KKR Advisor: Overview

Size & Scale

• ~$15.5 billion publicly traded BDC within $200 billion KKR Credit platform
• ~1,800 issuers across KKR Credit network
• FSK has direct involvement of over 250 professionals
• Ability to commit in size

Focus

• Investment structures:
• • Senior secured
  • Asset Based Finance
  • Junior capital
• Upper middle market:
• • $50-$150million+ EBITDA
• Market leading businesses:
• • Pricing power
  • Defensive industries
• Preservation of capital:
• • Rigorous portfolio monitoring
  • Internal workout capabilities

Global Market Reach

• Financial sponsor relationships across multiple countries
• Dedicated non-sponsor sourcing effort leveraging all of the KKR network
• Deep industry experience across KKR Credit platform
• ~100 investment professionals

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FSK: A Leading BDC

Total Assets Under Management Ranked by Publicly Traded BDC Advisor/Manager ($bn)

$22.2

$15.5

$13.4

$9.6

$7.7

$5.7

$4.4

$3.6

$3.3

$3.3

$3.2

$3.1

$2.7

$2.6

$2.5

$2.3

$1.2

$1.2

$2.0

$1.8

ARCC

FSK

OBDC

BXSL

PSEC

GBDC

MAIN

GSBD

OCSL

NMFC

HTGC

TSLX

BCSF

SLRC

MFIC

PNNT &

CGBD

TCPC

PFLT

FSK is the second largest publicly traded BDC as measured by total assets

1. PSEC as of March 31, 2023.

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KKR Credit: Overview

$519 billion

Total KKR Firm AUM1

$200 billion

KKR Credit AUM1

Leveraged Credit

$112bn

•	Leveraged Loans	•	Opportunistic
•	High Yield Bonds		Credit
•	CLOs
•	Multi-Asset
	Class Credit

Private Credit

$78bn

•	First Lien /	•	Asset Based
	Unitranche		Finance
•	Second Lien	•	Junior Capital

Strategic Investments

$10bn

•	Capital Solutions	• Cross Asset Class
•	Opportunistic

1. Please see "Important Information" for a description of Assets Under Management calculation.

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