Document:

EX-10.4

 Exhibit 10.4 

DIVIDEND REINVESTMENT PLAN 
 OF

 SIXTH STREET LENDING PARTNERS 

Effective as of June 28, 2022 
 Sixth Street
Lending Partners, a Delaware statutory trust (the “Company”), hereby adopts the following plan (the “Plan”) with respect to cash dividends or distributions declared by its Board of Trustees (the “Board of Trustees”) on
the Company’s shares of beneficial interest, par value $0.001 per share (the “Common Shares”). 
 1. Unless a shareholder specifically elects
to receive cash pursuant to paragraph 4 below, all cash dividends or distributions, net of any applicable withholding tax, hereafter declared by the Company’s Board of Trustees shall be reinvested by the Company in Common Shares on behalf each
shareholder, and no action shall be required on such shareholder’s part to receive such Common Shares. 
 2. Such cash dividends or distributions shall
be payable on such date or dates (each, a “Payment Date”) as may be fixed from time to time by the Board of Trustees to shareholders of record at the close of business on the record date(s) established by the Board of Trustees for the cash
dividend or distribution involved. 
 3. The Company will declare all income dividends and/or capital gains distributions (collectively,
“Distributions”) payable in Common Shares (or, as discussed below, at the option of shareholders solely upon an affirmative election, in cash). Prior to a quotation or listing of the Company’s securities on a national securities
exchange (including through an initial public offering) or a sale of all or substantially all of the Company’s assets to, or a merger or other liquidity transaction with, an entity in which Shareholders receive shares of a publicly-traded
company that continues to be managed by the Company’s investment adviser or an affiliate thereof (an “Exchange Listing”), to the extent that a Participant reinvests Distributions in additional Common Shares, the Participant will
receive an amount of Common Shares equal to the amount of the Distribution on that shareholder’s Common Shares divided by the most recent fiscal quarter-end net asset value per share that is available on
the date such Distribution was paid (unless the Board of Trustees determines to use the net asset value per share as of another time) (the “Reference NAV”). Shareholders receiving Distributions in the form of additional Common Shares will
be treated for tax purposes as receiving a Distribution in the amount of cash that they would have received if they had elected to receive the Distribution in cash, unless the Company issues additional Common Shares with a fair market value equal to
or greater than the Reference NAV, in which case such shareholders will be treated as receiving a Distribution in the amount of the fair market value of the distributed Common Shares. Following an Exchange Listing, to the extent that a Participant
reinvests Distributions in additional Common Shares, the Participant will receive an amount of Common Shares equal to the amount of the Distribution on that Participant’s Common Shares divided by the market price per Common Share at the close
of regular trading on the applicable stock exchange on the date of such Distribution, subject to the adjustments described below. With respect to each cash dividend or distribution pursuant to this Plan, the Board of Trustees reserves the right to
either issue new Common Shares or purchase Common Shares in the open market for the accounts of Participants (as defined below) in connection with implementation of the Plan. Following an Exchange Listing, the number of Common Shares to be issued to
a Participant will be determined by dividing the total dollar amount of the cash dividend or distribution payable to a Participant by the market price per share of the Common Shares at the close of regular trading on the applicable stock exchange on
the Payment Date, or if no sale is reported for such day, the average of the reported bid and asked prices. However, if the market price per share on the Payment Date exceeds the most recently computed net asset value per share, the Company will
issue Common Shares at the greater of (i) the most recently computed net asset value per share and (ii) 95% of the current market price per share (or such lesser discount to the current market price per share that still exceeds the most
recently computed net asset value per share). Shares purchased in open market transactions by the Plan Administrator will be allocated to a Participant based on the average purchase price, excluding any brokerage charges or other charges, of all
Common Shares purchased in the open market. 
 4. A shareholder may elect to receive any portion of its cash dividends or distributions in cash. To exercise
this option, such shareholder shall notify State Street Bank and Trust Company (referred to as the “Plan Administrator”), in writing so that such notice is received by the Plan Administrator no later than 10 days prior to the record date
fixed by the Board of Trustees for the cash dividend or distribution associated with a particular Payment Date. Such 

 election shall remain in effect until the shareholder shall notify the Plan Administrator in writing of such
shareholder’s desire to change its election, which notice shall be delivered to the Plan Administrator no later than 10 days prior to the record date fixed by the Board of Trustees for the first distribution for which such shareholder wishes
its new election to take effect. All correspondence concerning the Plan should be directed to the Plan Administrator by mail at State Street Corporation, Transfer Agency – Sixth Street Lending Partners, [Box 5493, Boston, Massachusetts
02206-5493]. 
 5. The Plan Administrator will set up an account for Common Shares acquired pursuant to the Plan for each shareholder who has not so elected
to receive a cash dividend or distribution in cash (each a “Participant”). The Plan Administrator may hold each Participant’s Common Shares, together with the shares of other Participants, in
non-certificated form in the Plan Administrator’s name or that of its nominee. The number of Common Shares to be issued to a Participant pursuant to the Plan will be rounded down to the nearest whole
share to avoid the issuance of fractional shares, with any fractional shares being paid in cash. 
 6. The Plan Administrator will confirm to each
Participant each issuance of Common Shares made to such Participant pursuant to the Plan as soon as practicable following the date of such issuance. The Plan Administrator will forward to each Participant any Company-related proxy solicitation
materials and each Company report or other communication to shareholders. Any shares held by a Participant under the Plan will be voted in accordance with the instructions set forth on proxies returned by the Participant to the Company. 

7. In the event that the Company makes available to its shareholders rights to purchase additional shares or other securities, the Common Shares held by the
Plan Administrator for each Participant under the Plan will be added to any other shares held by the Participant in calculating the number of rights to be issued to the Participant. 

8. The Plan Administrator’s service fee, if any, and expenses for administering the Plan will be paid for by the Company. If a Participant elects by
written notice to the Plan Administrator to have the Plan Administrator sell part or all of the Common Shares held by the Plan Administrator in the Participant’s account and remint the proceeds to the Participant, whether upon termination of
the Plan by the Company, termination by a Participant of its or his account under the Plan or otherwise, the Plan Administrator is authorized to deduct a $15.00 transaction fee plus brokerage commission from the proceeds. 

9. Each Participant may terminate his or its account under the Plan by so notifying the Plan Administrator in writing. Such termination will be effective
immediately if the Participant’s notice is received by the Plan Administrator not less than 10 days prior to any cash dividend or distribution record date; otherwise, such termination will be effective only with respect to any subsequent cash
dividend or distribution. Upon any termination of the Plan by the Company in accordance with Section 11 or by a Participant of its or his account under the Plan, the Plan Administrator will cause Common Shares held for the Participant under the
Plan to be credited to the Participant in book-entry form with the Company’s transfer agent. 
 10. The Plan may be terminated by the Company upon
notice in writing mailed to each shareholder of record at least 30 days prior to any record date for the payment of any cash dividend or distribution by the Company. 

11. These terms and conditions may be amended or supplemented by the Company at any time but, except when necessary or appropriate to comply with applicable
law or the rules or policies of the Securities and Exchange Commission or any other regulatory authority, only by mailing to each Participant appropriate written notice at least 30 days prior to the effective date thereof. The amendment or
supplement shall be deemed to be accepted by each Participant unless, prior to the effective date thereof, the Plan Administrator receives written notice from the Participant of the termination of such Participant’s account under the Plan. Any
such amendment or supplement may include an appointment by the Plan Administrator, in its place and stead, of a successor agent under the terms and conditions agreed upon by the Company, with full power and authority to perform all or any of the
acts to be performed by the Plan Administrator under these terms and conditions. Upon any such appointment of any agent for the purpose of receiving cash dividends or distributions, the Company will be authorized to pay to such successor agent, for
each Participant’s account, all cash dividends or distributions payable on shares of the Common Shares of the Company held in the Participant’s name or under the Plan for retention or application by such successor agent as provided in
these terms and conditions. 

 12. The Plan Administrator will at all times act in good faith and use its best efforts within reasonable
limits to ensure its full and timely performance of all services to be performed by it under this Plan and to comply with applicable law, but assumes no responsibility and shall not be liable for loss or damage due to errors unless any such error is
caused by the Plan Administrator’s negligence, bad faith or willful misconduct of that or its employees or agents. 
 13. These terms and conditions
shall be governed by the laws of the State of New York, without regard to the conflicts of law principles thereof, to the extent such principles would require or permit the application of the laws of another jurisdiction.EX-10.5

 Exhibit 10.5 

EXPENSE SUPPORT AND CONDITIONAL REIMBURSEMENT AGREEMENT 

This Expense Support and Conditional Reimbursement Agreement (the “Agreement”) is made this 28th day of June, 2022, by and
between SIXTH STREET LENDING PARTNERS, a Delaware statutory trust (the “Fund”), and SIXTH STREET LENDING PARTNERS ADVISERS, LLC, a Delaware limited liability company (the “Adviser”). 

WHEREAS, the Fund is
a non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the Investment
Company Act of 1940, as amended (the “Investment Company Act”); 
 WHEREAS, the Fund has retained the Adviser to furnish
investment advisory services to the Fund on the terms and conditions set forth in the investment advisory and management agreement, dated June 28th, 2022, entered between the Fund and the Adviser,
as may be amended or restated (the “Investment Advisory Agreement”); 
 WHEREAS, the Fund and the Adviser have
determined that it is appropriate and in the best interests of the Fund that the Adviser may elect to pay a portion of the Fund’s expenses from time to time, which the Fund will be obligated to reimburse to the Adviser at a later date if
certain conditions are met. 
 NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the parties
hereby agree as follows: 
 1. Adviser Expense Payments to the Fund 

(a) At such times as the Adviser determines, the Adviser may elect to pay certain expenses of the Fund on the Fund’s behalf (each such
payment, an “Expense Payment”). In making an Expense Payment, the Adviser will designate, as it deems necessary or advisable, what type of expense it is paying (including, whether it is paying organizational or offering expenses);
provided that no portion of an Expense Payment will be used to pay any interest expense or distribution and/or servicing fees of the Fund. 

(b) The Fund’s right to receive an Expense Payment shall be an asset of the Fund upon the Adviser committing in writing to pay the
Expense Payment pursuant to a notice substantially in the form of Appendix A. Any Expense Payment that the Adviser has committed to pay shall be paid by the Adviser to the Fund in any combination of cash or other immediately available
funds no later than 45 days after such commitment was made in writing, and/or offset against amounts due from the Fund to the Adviser or its affiliates. 

2. Reimbursement of Expense Payments by the Fund 

(a) Following any calendar month or quarter, as applicable, in which Available Operating Funds (as defined below) exceed the cumulative
distributions accrued to the Fund’s shareholders based on distributions declared with respect to record dates occurring in such calendar month or quarter, as applicable (the amount of such excess being hereinafter referred to as “Excess
Operating Funds”), the Fund shall pay such Excess Operating Funds, or a portion thereof in accordance with Sections 2(b), as applicable, to the Adviser until such time as all Expense Payments made by the Adviser to the Fund within three
years prior to the last business day of such calendar month or quarter, as applicable, have been reimbursed. Any payments required to be made by the Fund pursuant to this Section 2(a) shall be referred to herein as a “Reimbursement
Payment.” For purposes of this Agreement, “Available Operating Funds” means the sum of (i) the Fund’s net investment company taxable income (including net short-term capital gains reduced by net long-term capital
losses), (ii) the Fund’s net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to the Fund on account of investments in portfolio
companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above). 
  

 (b) The amount of the Reimbursement Payment for any calendar month or quarter, as
applicable, shall equal the lesser of (i) the Excess Operating Funds in such month or quarter, as applicable, and (ii) the aggregate amount of all Expense Payments made by the Adviser to the Fund within three years prior to the last
business day of such calendar month or quarter, as applicable, that have not been previously reimbursed by the Fund to the Adviser; provided that the Adviser may waive its right to receive all or a portion of any Reimbursement Payment in any
particular calendar month or quarter, as applicable, in which case such waived amount will remain unreimbursed Expense Payments reimbursable in future months pursuant to the terms of this Agreement. 

(c) Notwithstanding anything to the contrary in this Agreement, no Reimbursement Payment for any month or quarter, as applicable, shall be
made if: (1) the Effective Rate of Distributions Per Share declared by the Company at the time of such proposed Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which
such Reimbursement Payment relates, or (2) the Company’s Operating Expense Ratio at the time of such proposed Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such
Reimbursement Payment relates. For purposes of the Agreement, “Effective Rate of Distributions Per Share” means the annualized rate (based on a 365 day year) of regular cash distributions per share exclusive of returns of capital,
distribution rate reductions due to distribution and shareholder fees, and declared special dividends or special distributions, if any. The “Operating Expense Ratio” is calculated by dividing operating expenses, less organizational
and offering expenses, base management and incentive fees owed to the Adviser, and interest expense, by the Company’s net assets. 

(d) The Fund’s obligation to make a Reimbursement Payment shall automatically become a liability of the Fund on the last business day of
the applicable calendar month or quarter, as applicable, except to the extent the Adviser has waived its right to receive such payment for the applicable month or quarter, as applicable. In connection with any Reimbursement Payment, the Fund may
deliver a notice substantially in the form of Appendix A. The Reimbursement Payment for any calendar month or quarter, as applicable, shall be paid by the Fund to the Adviser in any combination of cash or other immediately available
funds as promptly as possible following such calendar month or quarter, as applicable, and in no event later than 45 days after the end of such calendar month or quarter, as applicable. 

(e) All Reimbursement Payments hereunder shall be deemed to relate to the earliest unreimbursed Expense Payments made by the Adviser to the
Fund within three years prior to the last business day of the calendar month or quarter, as applicable, in which such Reimbursement Payment obligation is accrued. 

3. Termination and Survival 
 (a)
This Agreement shall become effective as of the date of this Agreement. 
 (b) This Agreement may be terminated, without the payment of any
penalty, by the Fund or the Adviser at any time, with or without notice. 
 (c) This Agreement shall automatically terminate in the event of
(i) the termination by the Fund of the Investment Advisory Agreement; (ii) the board of trustees of the Fund makes a determination to dissolve or liquidate the Fund; or (iii) upon a quotation or listing of the Fund’s securities
on a national securities exchange (including through an initial public offering) or a sale of all or substantially all of the Fund’s assets to, or a merger or other liquidity transaction with, an entity in which the Fund’s shareholders
receive shares of a publicly-traded company which continues to be managed by the Adviser or an affiliate thereof. 
 (d) Sections 3 and 4 of
this Agreement shall survive any termination of this Agreement. Notwithstanding anything to the contrary, Section 2 of this Agreement shall survive any termination of this Agreement with respect to any Expense Payments that have not been
reimbursed by the Fund to the Adviser. 
 4. Miscellaneous 

(a) The captions of this Agreement are included for convenience only and in no way define or limit any of the provisions hereof or otherwise
affect their construction or effect. 
 (b) This Agreement contains the entire agreement of the parties and supersedes all prior agreements,
understandings and arrangements with respect to the subject matter hereof. 
  

  
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 (c) Notwithstanding the place where this Agreement may be executed by any of the parties
hereto, this Agreement shall be construed in accordance with the laws of the State of New York. For so long as the Fund is regulated as a business development company under the Investment Company Act, this Agreement shall also be construed in
accordance with the applicable provisions of the Investment Company Act. In such case, to the extent the applicable laws of the State of New York or any of the provisions herein conflict with the provisions of the Investment Company Act, the latter
shall control. Further, nothing in this Agreement shall be deemed to require the Fund to take any action contrary to the Fund’s declaration of trust or by-laws, as each may be amended or
restated, or to relieve or deprive the board of trustees of the Fund of its responsibility for and control of the conduct of the affairs of the Fund. 

(d) If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this
Agreement shall not be affected thereby and, to this extent, the provisions of this Agreement shall be deemed to be severable. 
 (e) The
Fund shall not assign this Agreement or any right, interest or benefit under this Agreement without the prior written consent of the Adviser. 

(f) This Agreement may be amended in writing by mutual consent of the parties. This Agreement may be executed by the parties on any number of
counterparts, delivery of which may occur by facsimile or as an attachment to an electronic communication, each of which shall be deemed an original, and all of said counterparts taken together shall be deemed to constitute one and the same
instrument. For the avoidance of doubt, a person’s execution and delivery of this Agreement by electronic signature and electronic transmission (jointly, an “Electronic Signature”), including via DocuSign or other similar
method, shall constitute the execution and delivery of a counterpart of this Agreement by or on behalf of such party and shall bind such party to the terms of this Agreement. Any party executing and delivering this Agreement by an Electronic
Signature further agrees to take any and all reasonable additional actions, if any, evidencing its intent to be bound by the terms of this Agreement. 

[Remainder of page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
duly authorized representatives as of the date first written above. 
  

			
	SIXTH STREET LENDING PARTNERS
		
	By:	 	/s/ Ian Simmonds
	Name:	 	Ian Simmonds
	Title:	 	Chief Financial Officer
	
	SIXTH STREET LENDING PARTNERS ADVISERS, LLC
		
	By:	 	/s/ Ian Simmonds
	Name:	 	Ian Simmonds
	Title:	 	Vice President

 [Signature Page to Expense Support and Conditional Reimbursement Agreement] 

  
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 Appendix A 

Form of Notice of Expense Payment or Reimbursement Payment 

☐ Expense Payment 
 Expense Payment
Effective
Date:                                        
             
 Expense Payment Amount: 

Organizational
Expense:                                       
                  
 Offering
Expense:                                       
              
 Management
Fee:                                        
             
 Incentive
Fee:                                        
         

Other:                      
                           

Total:                      
                           

All Expense Payments are subject to reimbursement pursuant to the terms of the Agreement. 

☐ Reimbursement Payment 
 Reimbursement
Payment Effective Date:                                  

Reimbursement Payment Amount: 
 Organizational
Expense:                                       
                  
 Offering
Expense:                                       
              
 Management
Fee:                                        
             
 Incentive
Fee:                                        
         

Other:                      
                           

Total:                      
                           

  
 5

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