FSIC Overview FS Investment Corporation (NYSE: FSIC) is a publicly traded business development company (BDC) focused on providing customized credit solutions to private middle market U.S. companies. Investment approach We seek to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S. companies to achieve the best risk-adjusted returns for our investors. In connection with our debt investments, we may receive equity interests such as warrants or options. FSIC is differentiated by our flexible investment strategy which allows us to invest across the corporate capital structure and provide diversified exposure across multiple industries. Our core investment strategy is focused on direct originations and opportunistic investments, such as event-driven investments and anchor orders, which we believe allow us to take advantage of market inefficiencies. Managers FSIC is advised by FB Income Advisor, LLC, an affiliate of Franklin Square Capital Partners, a leading manager of debt-focused alternative investment funds, and sub-advised by GSO / Blackstone Debt Funds Management LLC, an affiliate of GSO Capital Partners, the credit platform of Blackstone. With $65 billion in assets under management as of December 31, 2013, GSO Capital Partners is one of the world’s largest credit-oriented alternative asset managers with over 250 investment professionals in New York, London, Dublin and Houston. We seek to leverage our size and resources with GSO’s global brand, underwriting capabilities, network of relationships and origination platform to maximize returns and preserve capital. Since FSIC’s inception in January 2009, the Company has grown to become one of the largest BDCs in the market with $4.5 billion in assets under management invested in 159 portfolio companies across over 20 industries as of February 28, 2014. Franklin Square is the largest manager of BDC assets with over $10 billion in assets under management as of December 31, 2013.