Investment grade investment universe based on combined book value 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 equipment for all openly traded companies in North America with a financial investment grade credit score from Standard & Poor's. Source: Standard & Poor's Capital IQ since September 27, 2023. Average yearly single tenant transaction volume 2022. Sources: Institutional Property Inc. "Net-leased business realty posts record year" published March 1, 2023, and Colliers research study. Investment grade companies must have "BBB-" rating or greater by S&P or an equivalent ranking from a nationally acknowledged analytical ranking organization (NRSRO). Creditworthy describes companies that Blue Owl deems 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 renter relationships/partnerships, Blue Owl has 160+ occupant relationships/partnerships as of June 30, 2024. Since the creation of Blue Owl's net lease investment method in 2010.

Important info

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

Past efficiency is not a warranty of future results.

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

Taxpayers need to seek advice from with their independent tax consultants with regard to any contemplated Section 1031 Exchange.

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