The information in the tables below is presented on an aggregate portfolio basis, without regard to whether they are non-controlled non-affiliated, non-controlled affiliated or controlled affiliated investments.



	As of March 31, 2026				As of December 31, 2025
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
First-lien senior secured debt investments	$	4,677,079	$	4,557,893	$	5,488,669	$	5,484,795
Second-lien senior secured debt investments	253,123		201,125		283,730		267,441
Unsecured debt investments	62,534		62,454		66,248		66,531

Preferred equity investments	182,633		171,367		177,173		173,230
Common equity investments	90,882		100,585		80,256		101,617
Specialty finance equity investments	105,282		108,651		86,202		89,389
Joint Ventures	16,512		15,294		24,325		24,133
Total Investments	$	5,388,045	$	5,217,369	$	6,206,603	$	6,207,136

The Company uses Global Industry Classification Standard (“GICS”) for classifying the industry groupings of its portfolio companies. The table below presents the industry composition of investments based on fair value as of the following periods:


	As of March 31, 2026		As of December 31, 2025
Aerospace & Defense	1.3	%	1.3	%
Airlines	0.2		0.3
Application Software	16.1		15.6
Asset Based Lending and Fund Finance(2)	0.9		0.4
Banks	0.4		0.7
Beverages	0.2		0.2
Buildings & Real Estate	1.9		1.9
Building Products	0.1		0.1
Capital Markets	1.0		1.0
Commercial Services & Supplies	1.4		1.4
Construction & Engineering	0.2		0.2
Consumer Finance	0.6		0.5
Containers & Packaging	0.3		0.4
Diversified Consumer Services	2.3		2.9
Diversified Financial Services	7.4		7.8
Diversified Telecommunication Services(1)	—		0.0
Entertainment	1.2		1.1
Equity Real Estate Investment Trusts (REITs)	1.8		1.6
Food & Staples Retailing	2.6		2.3
Food Products	0.3		0.3
Health Care Equipment & Supplies	3.4		3.0
Health Care Providers & Services	4.2		6.1
Health Care Technology	12.8		12.4
Hotels, Restaurants & Leisure	0.7		0.7
Household Products	0.1		0.3
Industrial Conglomerates	0.8		0.8
Insurance	5.0		5.4
Internet & Direct Marketing Retail	0.6		0.5
IT Services	5.4		5.0


	As of March 31, 2026		As of December 31, 2025
Joint Ventures(4)	0.3		0.4
Life Sciences Tools & Services	2.4		2.1
Machinery	0.3		0.6
Media	0.5		0.6
Multiline Retail	0.3		0.3
Pharmaceuticals(3)	1.4		1.2
Professional Services	6.0		5.7
Real Estate Management & Development	0.7		0.8
Specialty Retail	1.0		0.8
Systems Software	13.1		12.6
Water Utilities	0.3		0.2
Wireless Telecommunication Services	0.5		0.5
Total	100.0	%	100.0	%

_______________



	As of March 31, 2026		As of December 31, 2025
United States:
Midwest	12.8	%	13.7	%
Northeast	21.6		21.0
South	30.6		31.4
West	24.5		24.2
Canada	3.1		3.0
United Kingdom	4.3		4.1
Other international	3.1		2.6











Total	100.0	%	100.0	%

Credit SLF, a Delaware limited liability company, is a joint venture among the Company, Blue Owl Capital Corporation ("OBDC"), Blue Owl Capital Corporation II ("OBDC II"), Blue Owl Credit Income Corp. ("OCIC"), Blue Owl Technology Finance Corp. ("OTF"), and State Teachers Retirement System of Ohio (each, a “Credit SLF Member” and collectively, the “Credit SLF Members”). Credit SLF’s principal purpose is to make investments primarily in senior secured loans to middle market companies, broadly syndicated loans and in senior and subordinated notes issued by collateralized loan obligations. Credit SLF is managed by a board of directors comprised of an equal number of directors appointed by each Credit SLF Member and which acts unanimously. Investment decisions must be approved by Credit SLF’s board. The Credit SLF Members coinvest through Credit SLF, or its wholly owned subsidiaries. Credit SLF’s date of inception was May 6, 2024 and Credit SLF made its first portfolio company investment on July 23, 2024.

The Company’s initial capital commitment to and economic ownership in Credit SLF was $2.5 million and 4.4%, respectively. On May 15, 2025, the Credit SLF Members modified their capital commitments to Credit SLF and the Company's capital commitment was increased to $8.7 million. On September 4, 2025, certain Credit SLF Members increased their capital commitments to Credit SLF and the Company’s capital commitment was increased to $16.2 million. In the first quarter of 2026, certain Credit SLF Members further increased their capital commitments to Credit SLF. The Company’s commitment of $16.2 million did not change and was fully funded as of March 31, 2026.


Members	Capital Commitment		Net Contributed Capital		Economic Ownership Interest(1)
Blue Owl Capital Corporation	$	446,460	$	427,085	66.1	%
Blue Owl Capital Corporation II(2)	244		244		0.0
Blue Owl Credit Income Corp.	136,419		87,169		13.5
Blue Owl Technology Finance Corp.	53,812		34,937		5.4
Blue Owl Technology Income Corp.	16,161		16,161		2.5
State Teachers Retirement System of Ohio	93,299		80,799		12.5
Total	$	746,395	$	646,395	100.0	%

_______________


	March 31, 2026		December 31, 2025
Consolidated Balance Sheet Data
Cash	$	167,235	$	124,718
Investments at fair value	2,417,836		2,343,367
Total Assets	2,616,236		2,477,523
Total Debt (net of unamortized debt issuance costs)	1,831,178		1,728,363
Total Liabilities	2,026,448		1,863,454
Total Credit SLF Members’ Equity	589,788		614,069


	For the Three Months Ended March 31,
	2026		2025
Consolidated Statement of Operations Data

Investment income	$	41,005	$	23,696

Net operating expenses	25,030		13,659
Net investment income (loss)	$	15,975	$	10,037


Total net realized and unrealized gain (loss)	(51,991)		(16,103)
Net increase (decrease) in Credit SLF Members’ Equity resulting from operations	$	(36,016)	$	(6,066)

Blue Owl Leasing, a Delaware limited liability company, is a joint venture among the Company, OBDC, OBDC II, OCIC, OTF and Blue Owl Alternative Credit Fund and California State Teachers Retirement System (each, a “Blue Owl Leasing Member” and collectively, the “Blue Owl Leasing Members”). Blue Owl Leasing’s principal purpose is to make investments, either directly or indirectly through financing subsidiaries or other persons, primarily in leases and loans. Investment decisions must be approved by Blue Owl Leasing. The Blue Owl Leasing Members coinvest through Blue Owl Leasing, or its wholly owned subsidiaries. Blue Owl Leasing’s date of inception was June 30, 2025 and Blue Owl Leasing made its first portfolio company investment on October 23, 2025.

Other than for purposes of the 1940 Act, the Company does not believe it has control over this portfolio company. Accordingly, the Company does not consolidate its non-controlling interest in Blue Owl Leasing.


Members	Capital Commitment		Net Contributed Capital		Economic Ownership Interest(1)
Blue Owl Capital Corporation	$	860	$	860	2.2	%
Blue Owl Capital Corporation II	90		90		0.2	%
Blue Owl Credit Income Corp.	30,952		1,900		4.7	%
Blue Owl Technology Finance Corp.	8,955		800		2.0	%
Blue Owl Technology Income Corp.	3,918		350		0.9	%
Blue Owl Alternative Credit Fund	31,000		31,000		77.5	%
California State Teachers Retirement System	10,825		5,000		12.5	%
Total	$	86,600	$	40,000	100.0	%

_______________


	As of March 31, 2026		As of December 31, 2025(1)
Consolidated Balance Sheet Data
Cash	$	9,981	$	34,555
Investments at fair value	39,363		39,628
Total Assets	49,650		74,531
Total Debt (net of unamortized debt issuance costs)	9,374		9,754
Total Liabilities	9,861		10,076
Total Blue Owl Leasing Members’ Equity	39,789		64,455

______________


	For the Three Months Ended March 31,
	2026
Consolidated Statement of Operations Data
Income
Investment income	$	1,043
Expenses
Net operating expenses	871
Net investment income (loss)	$	172


Total net realized and unrealized gain (loss)	(239)
Net Increase (Decrease) in Blue Owl Leasing Members’ Equity Resulting From Operations	$	(67)

In February 2026, the Company sold a portion of its portfolio company investments with aggregate fair value of $344.0 million equivalent to 99.6% of par value to certain purchasers. The investments sold consisted of 98.6% first-lien investments and 1.4% unsecured investments and included investments in 60 portfolio companies across 26 industries. 98.6% of the investments sold were floating rate. The sold assets had an average investment size of $5.7 million and a weighted average spread of 5.0% and consisted of partial sales representing approximately 13.0% of our investments in each underlying portfolio company as of December 31, 2025. As a result of the sale, the Company recognized a $0.5 million gain on the sale in the first quarter of 2026. The Company used the proceeds from the loan sale agreements to repay indebtedness.