Investment grade investment universe based on combined book worth of net residential or commercial property, plant and devices for all openly traded companies in the United States and Canada. Investment grade investment universe based on combined book worth of net residential or commercial property, plant and devices for all publicly traded business in North America with an investment grade credit score from Standard & Poor's. Source: Standard & Poor's Capital IQ since September 27, 2023. Average annual single occupant transaction volume 2022. Sources: Institutional Real Estate Inc. "Net-leased industrial property posts record year" released March 1, 2023, and Colliers research. Investment grade business need to have "BBB-" ranking or higher by S&P or an equivalent rating from a nationally acknowledged analytical ranking organization (NRSRO). Creditworthy describes organizations that Blue Owl considers financially sound sufficient to justify an extension of credit or take part in a lease contract. Tenants are credit worthy or financial 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 occupant relationships/partnerships, Blue Owl has 160+ renter relationships/partnerships as of June 30, 2024. Since the creation of Blue Owl's net lease investment technique in 2010.

Important information

Unless otherwise kept in mind the Report Date referenced herein is as of December 31, 2024.

Past performance is not a guarantee of future results.

Creditworthy describes companies that Blue Owl considers economically sound enough to justify an extension of credit or engage in a lease agreement.

Taxpayers need to speak with their independent tax consultants with regard to any contemplated Section 1031 Exchange.

Assets Under Management (" AUM") describes the properties that we manage and is usually equal to the amount of (i) net property worth (" NAV")