Item 1.01 Entry into a Material Definitive Agreement.

On May 27, 2022, Franklin BSP Lending Corporation (the "Company"), through a wholly-owned, consolidated special purpose financing subsidiary, BDCA Funding I, LLC, entered into a second amendment (the "Second Amendment" to Loan and Servicing Agreement, dated as of August 28, 2020 and amended on April 6, 2021 (the "Credit Facility"), with the Company, as the servicer, Wells Fargo Bank, National Association, as the administrative agent, U.S. Bank Trust Company, National Association, as collateral agent, and U.S. Bank National Association, as collateral custodian.

The Second Amendment, among other things, transitions the benchmark rate to SOFR as the benchmark interest rate, including a credit spread adjustment of 10 basis points and other conforming changes related thereto. Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Second Amendment.

The foregoing description of the Second Amendment as set forth in this Item 1.01 is a summary only and is qualified in all respects by the provisions of the Second Amendment.

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