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

Important info

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

Past efficiency is not a warranty of future results.

Creditworthy refers to organizations that Blue Owl deems financially sound enough to justify an extension of credit or participate in a lease arrangement.

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

Assets Under Management (" AUM") refers to the possessions that we manage and is generally equivalent to the sum of (i) net property worth (" NAV")