Investment grade 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. Investment grade investment universe based upon 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 ranking from Standard & Poor's. Source: Standard & Poor's Capital IQ since September 27, 2023. Average annual single occupant deal volume 2022. Sources: Institutional Property Inc. "Net-leased commercial realty posts record year" published March 1, 2023, and Colliers research study. Investment grade business need to have "BBB-" ranking or greater by S&P or a comparable score from a nationally recognized statistical score company (NRSRO). Creditworthy refers to services that Blue Owl deems economically sound adequate to justify an extension of credit or participate 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 acquired 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 creation of Blue Owl's net lease investment method in 2010.

Important details

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

Past performance is not an assurance of future results.

Creditworthy describes businesses that Blue Owl deems financially sound sufficient to validate an extension of credit or engage in a lease contract.

Taxpayers need to consult 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 generally equal to the amount of (i) net property worth (" NAV")