Investment Grade* Private Credit Focuses on generating capital-efficient investment income through asset-backed finance, private corporate credit, and structured products. Tailored for insurance companies, this strategy emphasizes reliable returns while prioritizing capital preservation and industry regulatory compliance. With proven expertise in direct lending, our Credit platform sits at the forefront of the private credit market. We specialize in providing a range of customized financing solutions to both private equity-sponsored and non-sponsored companies across debt and equity-related instruments. Our investment capabilities also span the alternative credit and asset-based finance markets, allowing us to harness the power of our collective insights and provide innovative capital structure solutions for our borrowers and partners. Approach We are investors for the long term. Our relationship-oriented approach to investing can provide borrowers with sizable commitments to facilitate transactions and support their growth needs with certainty, speed, and transparency throughout the entire investment process. Through our extensive senior-level relationships with sponsors, we can create sourcing across multiple touchpoints. Expertise Led by a seasoned senior management team, our Credit platform is supported by a group of investment professionals with significant and diverse experience investing across varying market environments and business cycles. Scale Our dry powder allows our Credit platform to provide scaled financing solutions, commit to full capital structures, and support the future capital needs of borrowers. We have demonstrated our ability to source proprietary investment opportunities, across debt and equity investments, with $130 billion in gross originations across our direct lending business since inception.

Liquid Credit Focuses on the management of CLO portfolios of broadly syndicated, leveraged loans with an emphasis on liquid-market, senior secured, and floating-rate first lien loans. The strategy also invests in third-party CLO equity and junior mezzanine tranches on behalf of separately managed accounts. With proven expertise in direct lending, our Credit platform sits at the forefront of the private credit market. We specialize in providing a range of customized financing solutions to both private equity-sponsored and non-sponsored companies across debt and equity-related instruments. Our investment capabilities also span the alternative credit and asset-based finance markets, allowing us to harness the power of our collective insights and provide innovative capital structure solutions for our borrowers and partners. Approach We are investors for the long term. Our relationship-oriented approach to investing can provide borrowers with sizable commitments to facilitate transactions and support their growth needs with certainty, speed, and transparency throughout the entire investment process. Through our extensive senior-level relationships with sponsors, we can create sourcing across multiple touchpoints. Expertise Led by a seasoned senior management team, our Credit platform is supported by a group of investment professionals with significant and diverse experience investing across varying market environments and business cycles. Scale Our dry powder allows our Credit platform to provide scaled financing solutions, commit to full capital structures, and support the future capital needs of borrowers. We have demonstrated our ability to source proprietary investment opportunities, across debt and equity investments, with $130 billion in gross originations across our direct lending business since inception.

Professional Sports Minority Stakes As part of our established relationship with the NBA, we are building a diversified portfolio of minority equity investments in professional basketball teams, aiming to become the buyer of choice for selling owners. For more than a decade, our GP Strategic Capital platform has been at the forefront of providing innovative, long-term minority equity and financing solutions to leading private capital managers. We invest more than capital. Through our Business Services Platform, we aim to empower our partner managers with strategic support and resources that allow them to focus on their core competence: investing. Built on experience, permanence, and alignment of interests, and with more than a decade of experience across more than 90 debt and equity transactions, we specialize in delivering innovative solutions to private capital managers. Redefining long-term partnerships for alternative managers is our priority. As a non-control investor, we aim to be maximally aligned and minimally invasive—always operating at the highest standard to deliver the best possible outcomes.

Blue Owl Strategic Equity Strategy focuses on single-asset GP-led secondary transactions, or continuation fund investments. The effort will benefit from Blue Owl's direct lending and GP capital solutions divisions, with fundraising targeting both institutional investors and private wealth channels. For more than a decade, our GP Strategic Capital platform has been at the forefront of providing innovative, long-term minority equity and financing solutions to leading private capital managers. We invest more than capital. Through our Business Services Platform, we aim to empower our partner managers with strategic support and resources that allow them to focus on their core competence: investing. Built on experience, permanence, and alignment of interests, and with more than a decade of experience across more than 90 debt and equity transactions, we specialize in delivering innovative solutions to private capital managers. Redefining long-term partnerships for alternative managers is our priority. As a non-control investor, we aim to be maximally aligned and minimally invasive—always operating at the highest standard to deliver the best possible outcomes.

Net Lease Our real estate strategies focus on acquiring single-tenant, free-standing properties across industrial, essential retail, and data centers that are net-leased, long-term, to investment grade and creditworthy* tenants. This combination seeks to create predictable cash flow from long-term rents in our effort to provide investors with current income, net of fees, plus appreciation and limited downside risk. Since its inception, our Real Estate platform has established itself as a leader in real estate investing, offering flexible capital solutions to tenants and borrowers across asset classes and geographies. Through our credit-first approach, we seek to provide investors with predictable current income and attractive risk-adjusted returns while focusing on limiting downside risk. Certainty Over several decades and through various market cycles, we have established a reputation for delivering speed, scale, and certainty in execution. Our track record of reliability has earned us the trust of our partners in offering bespoke capital solutions. Clarity Our Real Estate platform is designed to provide confidence to our investors through predictable cash flow and current income. Paired with an equal emphasis on downside risk mitigation, we ensure that our investors have a clear line of sight on the capital they have entrusted in us. Discipline Credit quality is the foundation of our investment thesis, underpinning our stringent investment criteria, rigorous underwriting, and due diligence processes across our net lease and financing strategies.

GP Debt Financing Through well-collateralized, senior secured loans to private alternative asset management companies, we help borrowers drive business growth, fund GP commitments, and launch new strategies. For more than a decade, our GP Strategic Capital platform has been at the forefront of providing innovative, long-term minority equity and financing solutions to leading private capital managers. We invest more than capital. Through our Business Services Platform, we aim to empower our partner managers with strategic support and resources that allow them to focus on their core competence: investing. Built on experience, permanence, and alignment of interests, and with more than a decade of experience across more than 90 debt and equity transactions, we specialize in delivering innovative solutions to private capital managers. Redefining long-term partnerships for alternative managers is our priority. As a non-control investor, we aim to be maximally aligned and minimally invasive—always operating at the highest standard to deliver the best possible outcomes.

GP Minority Stakes We provide capital to the world’s leading alternative investment firms, primarily focused on acquiring minority equity stakes in established private market managers. For more than a decade, our GP Strategic Capital platform has been at the forefront of providing innovative, long-term minority equity and financing solutions to leading private capital managers. We invest more than capital. Through our Business Services Platform, we aim to empower our partner managers with strategic support and resources that allow them to focus on their core competence: investing. Built on experience, permanence, and alignment of interests, and with more than a decade of experience across more than 90 debt and equity transactions, we specialize in delivering innovative solutions to private capital managers. Redefining long-term partnerships for alternative managers is our priority. As a non-control investor, we aim to be maximally aligned and minimally invasive—always operating at the highest standard to deliver the best possible outcomes.

Direct Lending Focuses on lending to primarily upper-middle-market companies, both private equity-sponsored and non-sponsored, providing a range of customized financing solutions across debt and equity-related instruments. This strategy offers differentiated access points across Diversified Lending, Technology Lending, First Lien Lending and Opportunistic Lending. With proven expertise in direct lending, our Credit platform sits at the forefront of the private credit market. We specialize in providing a range of customized financing solutions to both private equity-sponsored and non-sponsored companies across debt and equity-related instruments. Our investment capabilities also span the alternative credit and asset-based finance markets, allowing us to harness the power of our collective insights and provide innovative capital structure solutions for our borrowers and partners. Approach We are investors for the long term. Our relationship-oriented approach to investing can provide borrowers with sizable commitments to facilitate transactions and support their growth needs with certainty, speed, and transparency throughout the entire investment process. Through our extensive senior-level relationships with sponsors, we can create sourcing across multiple touchpoints. Expertise Led by a seasoned senior management team, our Credit platform is supported by a group of investment professionals with significant and diverse experience investing across varying market environments and business cycles. Scale Our dry powder allows our Credit platform to provide scaled financing solutions, commit to full capital structures, and support the future capital needs of borrowers. We have demonstrated our ability to source proprietary investment opportunities, across debt and equity investments, with $130 billion in gross originations across our direct lending business since inception.

Alternative Credit Targets credit-oriented investments in markets underserved by traditional lenders or the broader capital markets, with deep expertise investing across specialty finance, private corporate credit and equipment leasing. This strategy offers differentiated exposure through our extensive sourcing network, asset-based expertise, and ability to underwrite complexity. With proven expertise in direct lending, our Credit platform sits at the forefront of the private credit market. We specialize in providing a range of customized financing solutions to both private equity-sponsored and non-sponsored companies across debt and equity-related instruments. Our investment capabilities also span the alternative credit and asset-based finance markets, allowing us to harness the power of our collective insights and provide innovative capital structure solutions for our borrowers and partners. Approach We are investors for the long term. Our relationship-oriented approach to investing can provide borrowers with sizable commitments to facilitate transactions and support their growth needs with certainty, speed, and transparency throughout the entire investment process. Through our extensive senior-level relationships with sponsors, we can create sourcing across multiple touchpoints. Expertise Led by a seasoned senior management team, our Credit platform is supported by a group of investment professionals with significant and diverse experience investing across varying market environments and business cycles. Scale Our dry powder allows our Credit platform to provide scaled financing solutions, commit to full capital structures, and support the future capital needs of borrowers. We have demonstrated our ability to source proprietary investment opportunities, across debt and equity investments, with $130 billion in gross originations across our direct lending business since inception.

Real Estate Credit Our Real Estate Credit strategy offers a diverse range of competitive financing solutions. We invest in both the public and private markets, seeking to generate equity-like returns while maintaining well-protected positions in the capital structure. Secured by real assets with predictable cashflows, our strategy aims to generate diversification, current income potential, and downside mitigation for our investors. Since its inception, our Real Estate platform has established itself as a leader in real estate investing, offering flexible capital solutions to tenants and borrowers across asset classes and geographies. Through our credit-first approach, we seek to provide investors with predictable current income and attractive risk-adjusted returns while focusing on limiting downside risk. Certainty Over several decades and through various market cycles, we have established a reputation for delivering speed, scale, and certainty in execution. Our track record of reliability has earned us the trust of our partners in offering bespoke capital solutions. Clarity Our Real Estate platform is designed to provide confidence to our investors through predictable cash flow and current income. Paired with an equal emphasis on downside risk mitigation, we ensure that our investors have a clear line of sight on the capital they have entrusted in us. Discipline Credit quality is the foundation of our investment thesis, underpinning our stringent investment criteria, rigorous underwriting, and due diligence processes across our net lease and financing strategies.