Bain Capital Specialty Finance, Inc. Receives Investment Grade Rating from Moody's

Bain Capital Specialty Finance, Inc. BCSF the "Company", "our" or "we"))) today announced that Moody's Investors Service ("Moody's") has assigned the Company with an investment grade rating of Baa3 and Stable outlook.

"We are pleased to receive an investment grade rating from Moody's, reflecting our solid credit performance across our diversified and thoughtfully constructed portfolio as well as Bain Capital Credit's deep management expertise and the broader platform that the Company benefits from," said Michael Boyle, President of BCSF. "This is a significant milestone for the Company as it provides us with greater access to further optimize our liabilities structure."

About Bain Capital Specialty Finance, Inc.

Bain Capital Specialty Finance, Inc. is an externally managed specialty finance company focused on lending to middle market companies. BCSF is managed by BCSF Advisors, LP, an SEC-registered investment adviser and a subsidiary of Bain Capital Credit, LP. Since commencing investment operations on October 13, 2016, and through December 31, 2020, BCSF has invested approximately $3,913.9 million in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments. BCSF's investment objective is to generate current income and, to a lesser extent, capital appreciation through direct originations of secured debt, including first lien, first lien/last out, unitranche and second lien debt, investments in strategic joint ventures, equity investments and, to a lesser extent, corporate bonds. BCSF has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.

Forward-Looking Statements

This letter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this letter may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the U.S. Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this letter.

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