Investment grade financial investment universe based on combined book worth of net residential or commercial property, plant and devices for all publicly traded business in the United States and Canada. Investment grade investment universe based on combined book value of net residential or commercial property, plant and equipment for all publicly traded business in The United States and Canada with a financial investment grade credit score from Standard & Poor's. Source: Standard & Poor's Capital IQ as of September 27, 2023. Average annual single renter deal volume 2022. Sources: Institutional Realty Inc. "Net-leased business realty posts record year" released March 1, 2023, and Colliers research study. Investment grade companies need to have "BBB-" ranking or higher by S&P or an equivalent rating from a nationally recognized analytical rating company (NRSRO). Creditworthy refers to companies that Blue Owl deems economically sound sufficient to justify an extension of credit or engage in a lease arrangement. Tenants are credit deserving or investment grade sometimes of acquisition. The above figure is inclusive of the relationships that come from STORE Capital, which was acquired by Blue Owl Real Estate and GIC in September 2022. Exclusive of STORE's renter relationships/partnerships, Blue Owl has 160+ tenant relationships/partnerships since June 30, 2024. Since the beginning of Blue Owl's net lease financial investment strategy in 2010.

Important info

Unless otherwise noted the Report Date referenced herein is since December 31, 2024.

Past performance is not a guarantee of future outcomes.

Creditworthy describes services that Blue Owl considers economically sound adequate to justify an extension of credit or participate in a lease contract.

Taxpayers must speak with their independent tax advisors with respect to any contemplated Section 1031 Exchange.

Assets Under Management (" AUM") describes the properties that we handle and is typically equal to the sum of (i) net possession value (" NAV")