MSC Income Fund Taps Steel Industry Leader for Board Director Role

HOUSTON, TX – February 04, 2026 – MSC Income Fund, Inc. (NYSE: MSIF) has strategically strengthened its leadership by appointing Nataly M. Marks, a seasoned executive with a formidable background in both high-finance and industrial operations, as a new independent member of its Board of Directors. The announcement confirms that Ms. Marks will also lend her expertise to the Board's Audit Committee, a move that signals a significant enhancement of the firm's governance and strategic oversight.

The appointment expands MSC Income Fund's board from four to five members and brings a director whose career uniquely mirrors the two worlds the fund operates in: the sophisticated realm of corporate finance and the practical, demanding environment of the private middle-market companies it invests in.

A Strategic Infusion of Industry Insight

Nataly Marks' appointment is being viewed by analysts as a masterstroke in aligning board-level expertise with the fund's core investment thesis. MSC Income Fund primarily provides debt capital to private companies, often in sectors like manufacturing, construction, and infrastructure. This is precisely the world Marks inhabits as the current President of Triple-S Steel Holdings, Inc., one of the nation's largest family-owned steel service centers.

Since taking the helm in 2022, Marks has overseen a sprawling operation with over 50 locations across North America and Colombia, a workforce of over 2,000, and annual sales hitting $2.6 billion in 2022. Her role encompasses the oversight of finance, operations, human resources, and technology, giving her a granular understanding of the challenges and opportunities facing large-scale industrial enterprises. This is the kind of practical, 'on-the-ground' experience that is often absent in purely financial boardrooms.

Dwayne L. Hyzak, MSC Income's Chief Executive Officer and Chairman of the Board, highlighted this synergy in the official announcement. "We welcome Nataly to the Board and believe she will bring a unique perspective based on her extensive experience in middle market, corporate and investment banking, and her knowledge of the construction, manufacturing and infrastructure industries," he commented. Hyzak further noted that her "leadership and executive management experience working at a private company similar to the profile of our typical private loan and lower middle market portfolio companies will bring valuable insights to the Fund's investment activities."

This direct experience means Marks is intimately familiar with the capital needs, operational hurdles, supply chain complexities, and growth strategies of the very companies MSC Income Fund seeks to partner with. Her ability to assess a potential investment goes beyond the balance sheet, offering a qualitative, operational due diligence that is invaluable in the private credit space.

From Banking Powerhouse to Operational Leader

Marks' journey to the boardroom of a major investment fund is a compelling narrative of building a dual-track expertise. Before her tenure at Triple-S Steel, she spent nearly two decades as a rising star at financial giant JPMorgan Chase & Co. Her career there began in the trenches of investment banking, where she focused on complex equity transactions and M&A advisory.

She steadily climbed the ranks, taking on roles with increasing responsibility that placed her at the heart of the middle-market economy. As the Head of Middle Market Banking for Houston and Central Texas, and later as Managing Director of the Corporate Client Banking Group, she was responsible for managing relationships and providing capital to a diverse range of companies, giving her a panoramic view of regional and national business trends. Her experience also includes leading the bank's National Beverage Banking Practice, demonstrating an ability to develop deep expertise in specific industry verticals.

This extensive banking background, rooted in a B.B.A. in Finance from the University of Texas at Austin, provides her with the rigorous financial skillset required to navigate the intricacies of MSC Income Fund's portfolio. It ensures she can dissect complex debt structures, evaluate leveraged buyouts, and understand the nuances of recapitalizations—all core activities for the fund. Her career path illustrates a powerful combination: the financial acumen of a Wall Street veteran fused with the operational wisdom of an industrial president.

Bolstering Governance and Forward-Looking Oversight

Beyond her strategic fit, Marks' appointment significantly bolsters the fund's corporate governance framework. Her role on the Audit Committee is particularly noteworthy. Having been designated an "audit committee financial expert" under SEC criteria, she brings a higher level of scrutiny and financial proficiency to the committee responsible for overseeing the fund's financial reporting and internal controls.

Furthermore, her recent experience at Triple-S Steel is not just about managing steel distribution; it's about modernizing a legacy industry. Her responsibilities include driving enterprise-wide digital transformation, strategic talent development, and, critically, cybersecurity planning. These are forward-looking skills that are increasingly vital for board-level oversight in any industry. Her appointment suggests MSC Income Fund is not only focused on the financial health of its portfolio but also on the resilience and adaptability of its own governance in the face of modern risks and technological shifts.

The expansion of the board itself is a deliberate act. By increasing its size to five members with an independent, highly-qualified director, the fund is signaling to investors its commitment to robust, diversified oversight and a proactive approach to corporate governance.

The Broader Context of MSC's Strategy

MSC Income Fund operates in the competitive and complex world of private credit. It acts as a principal investment firm, partnering with private equity sponsors to fund leveraged buyouts and growth initiatives. The fund's portfolio is divided between private loan investments in companies with revenues between $25 million and $500 million, and customized debt and equity investments in smaller, lower middle market companies, often in co-investment with its adviser's parent, Main Street Capital Corporation (NYSE: MAIN).

The appointment of Marks comes at a time of solid performance for the fund and its affiliates. MSC recently reported preliminary fourth-quarter 2025 results with an estimated increase in net asset value per share. Adding a director with Marks' specific skill set can be seen as a move to consolidate this strength and prepare for the next phase of growth. While the market's immediate reaction to the news was muted, with MSIF's stock seeing a slight dip, such short-term fluctuations often overlook the long-term strategic value of a high-caliber board appointment.

With Nataly Marks on the board, MSC Income Fund gains more than just another director. It gains a strategic asset who can bridge the gap between financial theory and operational reality, enhancing its ability to identify promising investments, guide its portfolio companies, and navigate the economic landscape with a deeper, more nuanced understanding of the industries it serves.