Private Wealth Investments

Returns (shown with and without sales charge) represent the total returns an investor received for the highlighted period taking into account all distributions paid during such period. Returns (with sales charge) are net of all FS Credit REIT expenses, including general and administrative expenses, transaction-related expenses, management fees, performance fees, and share class-specific fees. The calculation is net of any ongoing stockholder servicing fees and assumes that the investor purchased shares at NAV or the transaction price (which generally equals the prior month’s NAV), as applicable, at the beginning of the applicable period and reinvested all cash distributions pursuant to FS Credit REIT’s distribution reinvestment plan (“DRP”). Valuation as of the end of each period is the transaction price pursuant to FS Credit REIT’s share repurchase program on such date. Returns (without sales charge) do not include selling commissions and dealer manager fees, which could total up to 3.50% of the transaction price of Class S and Class T shares. Had such selling commissions and dealer manager fees been included, performance would be lower. Returns (with sales charge) assume payment of the maximum upfront sales charge of 3.50% at the beginning of the applicable period.

1. NAV is determined as of the last calendar day of each month by FS Real Estate Advisor in accordance with FS Credit REIT’s valuation guidelines. There is no rule, regulation or industry practice that requires the NAV be calculated in a certain way, and FS Credit REIT’s board of directors may adopt changes to the valuation guidelines.
2. Reflects the current month’s distribution annualized and divided by the prior month’s net asset value, which is inclusive of all fees and expenses. For the 12 months ended December 31, 2024, 100% of FS Credit REIT’s distributions were funded through net investment income.