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Investor Presentaiton

Executive Summary: Net Asset Value Per Share 2.9% Net Asset Value Per Share FBLC's NAV per share has increased 12.2% since Q1 2020 3.6% 3.5% FRANKLIN BSP LENDING CORP 0.4% 0.3% 0.4% (1.2%) (0.5%) 3.3% (1.4%) 0% (0.3%) $7.43 $7.46 $7.49 $7.51 $7.42 0.8% $7.38 $7.28 $7.28 $7.26 $7.19 $6.95 $6.71 $6.52 $6.47 1Q20 2Q20 Source: SEC filings as of 08/11/2023. 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Note: PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ANY INVESTMENT INVOLVES SIGNIFICANT RISK, INCLUDING LOSS OF THE ENTIRE INVESTMENT. BENEFIT STREET 8 PAR NERS

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