tax inform­ation

2024 estimated capital gains distributions

Based on information as of the dates listed below, the following are estimates of capital gains distributions scheduled to be paid before the end of 2024. We provide these estimates for informational purposes only. Please remember that they are based on preliminary information and are subject to change based on market volatility, portfolio and shareholder activity and 
tax adjustments.

These capital gains estimates are not intended or written to be used as tax advice, everyone’s tax situation is unique so please consult your tax professional about the federal, state, local or foreign tax consequences of this information.

‍

Estimated year-end distributions per share as of 12/12/24

Noteworthy dates

‍

ESTIMATED ORDINARY INCOME

ESTIMATED SHORT-TERM GOALS

ESTIMATED LONG-TERM GOALS

ESTIMATED TOTAL

NAV PER SHARE1

DISTRIBUTION
AS % OF NAV

RECORD

EX-DIVIDEND

PAYMENT

FS Multi-Strategy Alternatives Fund–Class I
$0.26
$0.00
$0.02
$0.28
$11.45
2.41%
12/11/24
12/12/24
12/13/24
FS Multi-Strategy Alternatives Fund–Class A
$0.26
$0.00
$0.02
$0.28
$11.45
2.41%
12/11/24
12/12/24
12/13/24

‍

Estimated year-end distributions per share as of 12/12/24

Noteworthy dates

‍

ESTIMATED ORDINARY INCOME

ESTIMATED SHORT-TERM GOALS

ESTIMATED LONG-TERM GOALS

ESTIMATED TOTAL

NAV PER SHARE1

DISTRIBUTION
AS % OF NAV

RECORD

EX-DIVIDEND

PAYMENT

FS Multi-Strategy Alternatives Fund–Class I
$0.26
$0.00
$0.02
$0.28
$11.45
2.41%
12/11/24
12/12/24
12/13/24
FS Multi-Strategy Alternatives Fund–Class A
$0.26
$0.00
$0.02
$0.28
$11.45
2.41%
12/11/24
12/12/24
12/13/24
  1. As of December 12, 2024

Past performance is no guarantee of future results.

Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Forward looking-statements are not guarantees of future results. They involve risks, uncertainties and assumptions, there can be no assurance that actual results will not differ materially from expectations. No part of this material may be reproduced in any form, or referenced to in any other publication, without express written permission from Future Standard.

To determine if the fund is an appropriate investment for you, carefully consider the fund objectives, risk and charges and expenses. This and other information can be found in the fund prospectus and summary prospectus, which can be obtained by calling 877‑924-4766 or visiting fsinvestments.com. Please read the prospectus carefully before investing.

FS Multi-Strategy Alternatives Fund is distributed by SEI Investments Distribution Co. (SIDCo), 1 Freedom Valley Drive, Oaks, PA 19456. SIDCo is not affiliated with FS Investment Solutions, LLC., Wilshire Advisors LLC, MidOcean Partners, Mariner Investment Group, LLC, Waterfall Asset Management, LLC. and Magnetar Asset Management LLC.