{ "chunks": [ { "id": "85330f74-988e-422a-a2fb-2595b1d1ebd6", "grounding": { "box": { "bottom": 0.10719436407089233, "left": 0.03966064751148224, "right": 0.3780219554901123, "top": 0.029479462653398514 }, "page": 0 }, "markdown": "\n\nFBRT 2Q 2026 Financial Update\n\n# Earnings & Distributions", "type": "text" }, { "id": "3dc58c91-5161-4a57-b963-c1f76a71f2b0", "grounding": { "box": { "bottom": 0.5489659309387207, "left": 0.03986059129238129, "right": 0.4936574697494507, "top": 0.1279447227716446 }, "page": 0 }, "markdown": "\n\n<::bar chart: Distributable Earnings ($M) (1)\n\nData Series:\n- 3Q'25:\n - Bar value: $26.7\n - Total (dashed box): $28.4 (2)\n- 4Q'25:\n - Bar value: $17.9\n - Total (dashed box): $27.7 (2)\n- 1Q'26:\n - Bar value: $13.5\n - Total (dashed box): $25.9 (2)\n- 2Q'26:\n - Bar value: $28.3\n - Total (dashed box): $30.2 (2)::>", "type": "figure" }, { "id": "86ad6db1-300c-4b18-9c33-bc420daf1949", "grounding": { "box": { "bottom": 0.5482743978500366, "left": 0.5052104592323303, "right": 0.9599458575248718, "top": 0.12930580973625183 }, "page": 0 }, "markdown": "\n\nGAAP Net Income (Loss) ($M)\n<::bar chart showing GAAP Net Income (Loss) ($M) over four quarters:\n3Q'25: $17.6\n4Q'25: $18.4\n1Q'26: $12.3\n2Q'26: $16.3\n: bar chart::>", "type": "figure" }, { "id": "ae1238bb-b8c4-432b-8517-1f8e1b9615b5", "grounding": { "box": { "bottom": 0.8708252310752869, "left": 0.039978861808776855, "right": 0.9609854221343994, "top": 0.5664698481559753 }, "page": 0 }, "markdown": "\n\n\n\n\n\n\n\n\n
3Q'254Q'251Q'262Q'26
$0.355$0.355$0.200$0.200Dividend per share
$0.22$0.12$0.09$0.25Distributable earnings per share, fully converted (1), (3)
$0.23$0.22$0.22$0.28Distributable earnings per share before realized gain/(loss), fully converted (1), (3)
61%34%45%127%Distributable dividend coverage, fully converted (1), (3)
66%63%110%138%Distributable dividend coverage before realized gain/(loss), fully converted (1), (3)
", "type": "table" }, { "id": "4015a108-cf63-4a2b-9cc9-751265118569", "grounding": { "box": { "bottom": 0.9595131874084473, "left": 0.040278851985931396, "right": 0.6726987361907959, "top": 0.8885329961776733 }, "page": 0 }, "markdown": "\n\nNote: All numbers in millions except per share data.\n1. Please see appendix for the detail on the adjustments from GAAP net income to Distributable Earnings.\n2. Distributable earnings before realized gain/(loss).\n3. Fully Converted assumes conversion of our series of convertible preferred stock and OP Units along with full vesting of our outstanding equity compensation awards.", "type": "text" }, { "id": "9624bfd7-ff5f-4bd7-89f7-8ccdefffd1c4", "grounding": { "box": { "bottom": 0.9794861078262329, "left": 0.7364558577537537, "right": 0.912706196308136, "top": 0.9572477340698242 }, "page": 0 }, "markdown": "\n\nBENEFIT STREET PARTNERS", "type": "marginalia" }, { "id": "02f9b114-5d97-4792-b811-2a48b84aa5fa", "grounding": { "box": { "bottom": 0.9783779382705688, "left": 0.9448862075805664, "right": 0.9597244262695312, "top": 0.9586120843887329 }, "page": 0 }, "markdown": "\n\n6", "type": "marginalia" } ], "markdown": "\n\nFBRT 2Q 2026 Financial Update\n\n# Earnings & Distributions\n\n\n\n<::bar chart: Distributable Earnings ($M) (1)\n\nData Series:\n- 3Q'25:\n - Bar value: $26.7\n - Total (dashed box): $28.4 (2)\n- 4Q'25:\n - Bar value: $17.9\n - Total (dashed box): $27.7 (2)\n- 1Q'26:\n - Bar value: $13.5\n - Total (dashed box): $25.9 (2)\n- 2Q'26:\n - Bar value: $28.3\n - Total (dashed box): $30.2 (2)::>\n\n\n\nGAAP Net Income (Loss) ($M)\n<::bar chart showing GAAP Net Income (Loss) ($M) over four quarters:\n3Q'25: $17.6\n4Q'25: $18.4\n1Q'26: $12.3\n2Q'26: $16.3\n: bar chart::>\n\n\n\n\n\n\n\n\n\n\n
3Q'254Q'251Q'262Q'26
$0.355$0.355$0.200$0.200Dividend per share
$0.22$0.12$0.09$0.25Distributable earnings per share, fully converted (1), (3)
$0.23$0.22$0.22$0.28Distributable earnings per share before realized gain/(loss), fully converted (1), (3)
61%34%45%127%Distributable dividend coverage, fully converted (1), (3)
66%63%110%138%Distributable dividend coverage before realized gain/(loss), fully converted (1), (3)
\n\n\n\nNote: All numbers in millions except per share data.\n1. Please see appendix for the detail on the adjustments from GAAP net income to Distributable Earnings.\n2. Distributable earnings before realized gain/(loss).\n3. Fully Converted assumes conversion of our series of convertible preferred stock and OP Units along with full vesting of our outstanding equity compensation awards.\n\n\n\nBENEFIT STREET PARTNERS\n\n\n\n6", "metadata": { "credit_usage": 3.0, "duration_ms": 10021, "filename": "p6.pdf", "job_id": "cmsgvtyw300e5dn01r93vo3gk", "org_id": "dlh8mka28ml4", "page_count": 1, "version": "dpt-2-20260410", "failed_pages": [] }, "splits": [ { "chunks": [ "85330f74-988e-422a-a2fb-2595b1d1ebd6", "3dc58c91-5161-4a57-b963-c1f76a71f2b0", "86ad6db1-300c-4b18-9c33-bc420daf1949", "ae1238bb-b8c4-432b-8517-1f8e1b9615b5", "4015a108-cf63-4a2b-9cc9-751265118569", "9624bfd7-ff5f-4bd7-89f7-8ccdefffd1c4", "02f9b114-5d97-4792-b811-2a48b84aa5fa" ], "class_": "full", "identifier": "full", "markdown": "\n\nFBRT 2Q 2026 Financial Update\n\n# Earnings & Distributions\n\n\n\n<::bar chart: Distributable Earnings ($M) (1)\n\nData Series:\n- 3Q'25:\n - Bar value: $26.7\n - Total (dashed box): $28.4 (2)\n- 4Q'25:\n - Bar value: $17.9\n - Total (dashed box): $27.7 (2)\n- 1Q'26:\n - Bar value: $13.5\n - Total (dashed box): $25.9 (2)\n- 2Q'26:\n - Bar value: $28.3\n - Total (dashed box): $30.2 (2)::>\n\n\n\nGAAP Net Income (Loss) ($M)\n<::bar chart showing GAAP Net Income (Loss) ($M) over four quarters:\n3Q'25: $17.6\n4Q'25: $18.4\n1Q'26: $12.3\n2Q'26: $16.3\n: bar chart::>\n\n\n\n\n\n\n\n\n\n\n
3Q'254Q'251Q'262Q'26
$0.355$0.355$0.200$0.200Dividend per share
$0.22$0.12$0.09$0.25Distributable earnings per share, fully converted (1), (3)
$0.23$0.22$0.22$0.28Distributable earnings per share before realized gain/(loss), fully converted (1), (3)
61%34%45%127%Distributable dividend coverage, fully converted (1), (3)
66%63%110%138%Distributable dividend coverage before realized gain/(loss), fully converted (1), (3)
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