Sixth Street Specialty Lending, Inc.

Our Company is an investment firm focused on generating current income by targeting investments with favorable risk-adjusted returns. Since starting investment activities in July 2011 through December 31, 2025, the company originated approximately $53.3 billion in total principal amount of investments, retaining approximately $11.8 billion of these on its balance sheet before exits and repayments. The company primarily generates income from U.S.-domiciled middle-market companies through direct originations of senior secured loans, and to a lesser extent, mezzanine and unsecured loans, corporate bonds, and equity securities. Middle-market companies are defined as those with annual EBITDA of $10 million to $250 million, though investments in larger or smaller companies may occur. As of December 31, 2025, core portfolio companies, representing 87.9% of total investments by fair value, had weighted average annual revenue of $449.2 million and weighted average annual EBITDA of $127.3 million. The median annual revenue for these core companies was $159.4 million, with a median annual EBITDA of $48.0 million. Revenues are primarily derived from interest income on held investments, supplemented by dividends from equity investments, capital gains from investment sales, and various loan origination and other fees. The company has operated as a business development company (BDC) since July 2011, investing in first-lien debt, second-lien debt, mezzanine and unsecured debt, and equity and other investments.