Franklin Bsp Capital Corp · OTC:FRBP
Franklin Bsp Capital — Q1 2026 Earnings Presentation
22 slides from Franklin Bsp Capital's earnings presentation, May 2026
Slide 1: Franklin BSP Capital Corporation Q1 2026 Investor Presentation
Franklin BSP Capital Corporation May 2026 Franklin BSP Capital Corporation Q1 2026 Investor Presentation This presentation is a marketing communication and for informational purposes only. It should not be relied upon because it is incomplete, does not purport to be complete, may not contain all the
Slide 2: Disclosures
Disclosures The information herein relates to Franklin BSP Capital Corporation (“we,” “us,” the industries in which we invest; the ability to qualify and maintain our qualifications as a “Company” or “FBCC”) and its business and financial information as of March 31, regulated investment company (“RI
Slide 3: Today's Speakers
Franklin BSP Capital Corporation Today’s Speakers Richard J. Byrne Chief Executive Officer and Chairman of FBCC Richard Byrne is President of Benefit Street Partners and is based in our New York office, as well as the Chairman and Chief Executive Officer of Franklin BSP Capital Corp, and Chairman of
Slide 4: Executive Summary
Executive Summary
Slide 5: Financial Summary Q1 2026
Executive Summary Financial Summary Q1 2026 Net Asset • Net Asset Value ("NAV") per share was $13.47 compared to $13.58 per share at 12/31/25 Value • Net assets were $1.8 billion Net • Net investment income totaled $36.5 million, or $0.27 per share, during Q1, compared to $39.3 million, Investment o
Slide 6: BSP is one of the Largest Alt. Credit Managers
Executive Summary BSP is one of the Largest Alt. Credit Managers BSP's platform is one of the world’s largest alternative credit managers, employing a multi-strategy approach to capture attractive opportunities across global credit markets. $93bn 553 8 190 ASSETS UNDER EMPLOYEES 2 OFFICES 2 INVESTME
Slide 7: Franklin Templeton | A Global Leader in Asset Mgmt.
Executive Summary Franklin Templeton | A Global Leader in Asset Mgmt. With offices in major financial markets around the world, Franklin Templeton serves clients in more than 150 countries. BSP is 100% owned by Franklin Templeton $1.68tn 1,500+ Serving clients in over in assets under management1 inv
Slide 8: FBCC Financial and Portfolio Update
FBCC Financial and Portfolio Update
Slide 9: Purchase and Sale Activity – Quarterly
FBCC Financial and Portfolio Update Purchase and Sale Activity – Quarterly NET INVESTMENTS ($’s in millions) First Lien Percentage of New Purchases1 88.1% 94.0% 97.5% 87.9% 67.5% Includes Includes $500 $100mm $80mm JV ROC in Feb JV ROC $400 in Oct $371 $300 $283 $174 $200 $252 $241 $189 $100 $6 $- $
Slide 10: NAV per Share Bridge
FBCC Financial and Portfolio Update NAV per Share Bridge As of 03/31/2026 $0.27 ( $0.25 ) $13.58 ( $0.13 ) $13.47 NAV Net Investment Distribution¹ Net realized and NAV per share 12/31 Income unrealized gain (loss) per share 3/31 Source: SEC filings as of 05/13/2026. 1. Includes a $0.24/share dividen
Slide 11: Financial Summary
FBCC Financial and Portfolio Update Financial Summary $’s in millions, unless otherwise noted Total NAV FBCC NAV per Share Fair Value of Investments FBCC Debt Yield1 $13.79 $13.67 $13.58 $13.47 10.3% 10.1% 9.7% 9.6% $1,853 $1,844 $1,840 $1,832 $4,084 $4,081 $4,071 $4,051 2Q25 3Q25 4Q25 1Q26 2Q25 3Q2
Slide 12: Portfolio Snapshot
FBCC Financial and Portfolio Update Portfolio Snapshot As of 3/31/2026 Portfolio Highlights 148 $4.1bn 90.8% Portfolio Companies Total Investments % First Lien 1 93.5% 9.5% 9.6% % Floating Rate % Wtd. Avg. Yield on Current Portfolio2 % Wtd. Avg. Yield on Debt Investments2 Fair Value by Tranche1 Indu
Slide 13: Portfolio Diversification
FBCC Financial and Portfolio Update FBCC Portfolio Diversification As of 03/31/2026 ($’s in millions) Top control investments Issuer Name Industry Fair Market Value1 % of FMV Yield3 Post Road Equipment Finance, LLC Asset Based Financing $228.8 5.7% 10.1% FBLC Senior Loan Fund, LLC Investment in Join
Slide 14: JV - Senior Loan Fund Overview
FBCC Financial and Portfolio Update JV - Senior Loan Fund Overview As of 03/31/2026, unless otherwise noted FBCC’s Joint Venture with Cliffwater JV Industry Diversification JV Highlights: Health Care Providers 15.4% Software 9.3% • Contributed Capital: $225.0mm Capital Markets 8.0% • 03/31 Ownership
Slide 15: Non-Accrual & Risk Ratings Overview
FBCC Financial and Portfolio Update Non-Accrual & Risk Ratings Overview As of 03/31/2026 Portfolio credit quality remains strong with 84% rated 1 or 2 and continued improvement in non-accruals FBCC Weighted Average Portfolio Risk Rating1 Non-Accrual by % of Portfolio % of Portfolio Rated 1 or 2 Wtd.
Slide 16: Q1 2026 Financing Sources
FBCC Financial and Portfolio Update Q1 2026 Financing Sources As of 03/31/2026 Corporate Revolver Bank Facilities (non-recourse) Unsecured Bonds JPM Corporate Wells Fargo JPM 2029 2030 Revolver Bank Facility Bank Facility Unsecured Bonds Unsecured Bonds $780mm $300mm $1.05bn $400mm $300mm Capacity C
Slide 17: Liquidity Management
FBCC Financial and Portfolio Update Liquidity Management As of 03/31/2026, $’s in millions, where applicable Debt Summary $147 Total Principal A M O U NT I N M I L L I O N S Committed Amount Interest Maturity Amount Outstanding Rate Date FBCC Financing $473 $1,302 FBCC JPM $1,050.0 $903.0 S + 215 Oc
Slide 18: Dividend Timing Update
FBCC Financial and Portfolio Update FBCC Dividend Timing Update ESTIMATED DIVIDEND TIMELINE 1 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Payment Date 3/31/2026 6/30/2026 9/30/2026 12/30/2026 On May 11, 2026, the Board of Directors declared a distribution of $0.24 per common share estimated to be paid on or abo
Slide 19: Board and Management Team
FBCC Financial and Portfolio Update Board and Management Team Represents Independent Director FBCC Board of Directors FBCC Officers Investment Committee Richard J. Byrne Richard J. Byrne Blair Faulstich Chairman Chief Executive Officer President of FBCC, MD, Senior PM for Private Debt Lee S. Hillman
Slide 20: Key Differentiators
FBCC Financial and Portfolio Update FBCC Key Differentiators Demonstrated Industry Access to Strong Credit Specialist Non-Sponsor Track Record Discipline Advantage Deal Flow Experienced Focus on Core Lead Workout Middle Market Lender Team PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESU
Slide 21: Risk Factors
Appendix Risk Factors Summary of Risk Factors • We have entered into revolving credit facilities that contain various covenants which, if not complied with, could accelerate repayment under such credit facilities, thereby materially and adversely affecting our The following is a summary of the princ
Slide 22: Franklin BSP Capital Corporation
Franklin BSP Capital Corporation New York London Boston West Palm Beach One Madison Avenue Cannon Place 100 Federal Street 360 South Rosemary Avenue Suite 1600 78 Cannon Street 22nd Floor Suite 1510 New York London Boston West Palm Beach NY 10010 EC4N 6HL MA 02110 FL 33401 USA UK USA USA www.bspcred