Investment grade investment universe based on combined book worth of net residential or commercial property, plant and equipment for all openly traded companies in the United States and Canada. Investment grade financial investment universe based on combined book value of net residential or commercial property, plant and devices for all publicly traded companies in The United States and Canada with a financial investment grade credit rating from Standard & Poor's. Source: Standard & Poor's Capital IQ as of September 27, 2023. Average yearly single renter transaction volume 2022. Sources: Institutional Real Estate Inc. "Net-leased business realty posts record year" published March 1, 2023, and Colliers research study. Investment grade companies need to have "BBB-" rating or higher by S&P or an equivalent ranking from a nationally recognized statistical ranking organization (NRSRO). Creditworthy describes organizations that Blue Owl considers financially sound sufficient to validate an extension of credit or engage in a lease agreement. Tenants are credit worthwhile or financial investment grade sometimes of acquisition. The above figure is inclusive of the relationships that belong to STORE Capital, which was gotten by Blue Owl Real Estate and GIC in September 2022. Exclusive of STORE's tenant relationships/partnerships, Blue Owl has 160+ occupant relationships/partnerships as of June 30, 2024. Since the inception of Blue Owl's net lease investment strategy in 2010.

Important information

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

Past efficiency is not an assurance of future results.

Creditworthy refers to organizations that Blue Owl deems financially sound sufficient to validate an extension of credit or take part in a lease contract.

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

Assets Under Management (" AUM") describes the possessions that we manage and is usually equal to the sum of (i) net possession value (" NAV")