IPAA Private Capital Conference

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• IPAA Private Capital Conference
• January 18, 2007

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GSO Capital Partners Overview

• Asset Under Management
• Total Assets Under Management of 5.7 billion
• 3.3 billion in Fund assets
• 2.4 billion in CLO Debt Funds
• Investment Products
• Invest across the capital structure
• Leveraged Loans
• High Yield Bonds
• Side Pocket Structure allows for Private
  Investments with Long Durations
• Up to 30 of Fund assets
• Significant Organizational Investment with 100
  professionals
• Offices in New York City, Houston and London
• Senior Professionals with deep product and
  industry expertise

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Why GSO Capital?

• Wide investment latitude 25mm - 400 mm
• One stop solution for the entire capital
  structure
• Institutional knowledge of wide spectrum of
  industries and companies
• Built and managed the dominant Leveraged Finance
  group on Wall Street for over a decade
• Unsurpassed track record in providing innovative
  capital structure solutions
• Speed to investment decision
• Small, nimble GSO diligence teams
• Expedited GSO Committee process
• Certainty of closure
• Certainty of pricing
• Certainty of committed capital
• Speed to close
• No ratings
• No roadshow
• No syndication
• Partner of Choice to the LBO and Corporate
  Communities
• Ability to co-invest in private equity without
  requiring control
• Deep relationships and extensive global sourcing
  network

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Energy/Power Professionals
Founding Members
Bennett Goodman Tripp Smith Doug Ostrover
Research / Trading
Origination
Houston
Industry Vertical
Trading
London
Dwight Scott James Bennett David Finan Dan
Westcott
Jason New
James Didden Doug Logigian Alan Milstein
Peter Bacon Ed Goldstein Mirza Beg
Chemicals Omar Jama Valerie Kritsberg
Energy Omar Jama Rob Horn
Utilities / Power Jason New Rob Horn
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GSO Originated Energy/Power Investments
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GSO EP Recent Debt Participation