Financial insights of FSREM

MyFinsight

For the quarter ending 2025-06-30.

Income Statement	2025-06-30
Net change in unrealized gain (loss) on interest rate cap	-631
Real estate operating income	12,900
Net realized gain (loss) on extinguishment of debt	0
Net realized gain (loss) on mortgage-backed securities, fair value option	0
Unrealized gain (loss) on real estate, held-for-sale	-2,342
Unrealized gain (loss) on mortgage loans and obligations held in securitization trusts, net	1,223
Credit loss expense, net	16,853
Net change in unrealized gain (loss) on mortgage-backed securities, fair value option	-954
Total other income (loss)	-6,657
Real estate operating expenses	-8,336
Management fee	9,174
Less expense limitation	1,247
General and administrative expenses	12,393
Depreciation and amortization	4,364
Performance fee	0
Interest expense on real estate	2,040
Net other expenses	35,060
Interest income	162,427
Less interest expense	97,639
Interest income on mortgage loans held in securitization trusts	34,954
Less interest expense on mortgage obligations issued by securitization trusts	30,684
Net interest income	69,058
Net income before income taxes	27,341
Income tax expense	261
Net income	27,080
Preferred stock dividends	4
Net income attributable to fs credit real estate income trust, inc	27,076

Basic EPS	0.23
Diluted EPS	0.22
Basic Average Shares	119,976,846
Diluted Average Shares	122,396,378

Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.