First Eagle Senior Loan Fund Declares Monthly Distribution of $0.07 Per Share and Announces Management Change

First Eagle Senior Loan Fund (the “Fund”) (

NYSE

: FSLF) today announced the declaration of its monthly distribution of $0.07 per common share, payable on January 29, 2021. Based on the Fund’s share price of $14.00 as of its close on January 11, 2021, the distribution represents an annualized yield of 6.00%. Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured. The distribution rate should not be considered the yield or total return on an investment in the Fund.

The following dates apply to this distribution:

Ex-Dividend Date:Record Date:Payable Date:

January 18, 2021January 19, 2021January 29, 2021

A portion of the distribution may be treated as paid from sources other than undistributed net investment income, including but not limited to short-term capital gain, long-term capital gain or return of capital. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to the Fund’s shareholders in the event that a portion of the distribution is derived from sources other than undistributed net investment income. In January or February of each year, investors will be sent a Form 1099-DIV for the previous calendar year that will define how to report the Fund's distributions for federal income tax purposes.

The investment return, price, yields, market value and net asset value (NAV) of the Fund’s shares will fluctuate with market conditions, and it is possible to lose money by investing in the Fund. Closed-end funds frequently trade at a discount to NAV, which may increase the investor’s risk of loss. Investment return and principal value will fluctuate. Past performance is not a guarantee of future results.

The Fund also announced today that Brian W. Good, a member of the Fund’s portfolio management team, will be transitioning as an ESG consultant for the Adviser effective January 21, 2021. As of January 15, 2021, Mr. Good will no longer manage the Fund’s portfolio. Robert J. Hickey, a member of the Fund’s portfolio management team and an interested Trustee of the Fund, has been appointed by the Board as the Fund’s President and Principal Executive Officer. Mr. Hickey, along with the other members of the Fund’s portfolio management team, Messrs. James R. Fellows, Brian J. Murphy and Stephen F. Krull, will continue to manage the Fund.

About First Eagle Senior Loan Fund

The Fund is a diversified, closed-end management investment company that is advised by First Eagle Alternative Credit, LLC. The Fund’s investment objective is to provide current income and preservation of capital primarily through investments in U.S. dollar denominated senior secured corporate loans and notes. There can be no assurance that the Fund will achieve its investment objective.

About First Eagle Alternative Credit, LLC

First Eagle Alternative Credit is an alternative credit investment manager for both direct lending and broadly syndicated investments through public and private vehicles, collateralized loan obligations, separately managed accounts and co-mingled funds. First Eagle Alternative Credit maintains a variety of advisory and sub-advisory relationships across its investment platforms. First Eagle Alternative Credit is a wholly-owned subsidiary of First Eagle Investment Management, LLC.

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements”, which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition 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 our filings with the Securities and Exchange Commission. First Eagle Senior Loan Fund undertakes no duty to update any forward-looking statements made herein.

Contact the Fund at 1.844.409.6354 or visit the Fund’s website at http://feacfslf.com for additional information.

Contact

Andrew ParkFirst Eagle Alternative Credit, LLC212.829.3126