Blue Owl Capital Inc. · NYSE:OWL

Blue Owl Capital — Blue Owl Technology Finance Corp. II — Q4 2023 Earnings Presentation

13 slides from Blue Owl Capital's earnings presentation, March 2024

  1. Slide 1: Blue Owl Technology Finance Corp. II Quarterly Earnings Presentation

    December 31, 2023 Blue Owl Technology Finance Corp. II Quarterly Earnings Presentation FINANCIAL REPORTING PROVIDED TO INSTITUTIONAL AND EXISITING INVESTORS ONLY. NOT MARKETING MATERIAL. PROPRIETARY AND CONFIDENTIAL 1

  2. Slide 2: Review of Q4 2023

    Review of Q4 2023 • Net asset value per share of $15.32, up from $15.03 as of 9/30/2023 • Net investment income per share of $0.42, flat compared to 9/30/2023 Earnings Summary • Net income per share of $0.59, up from $0.50 as of 9/30/2023 • Annualized ROE on net investment income and net income of 1

  3. Slide 3: Financial Highlights

    Financial Highlights ​(Dollar amounts in thousands, except per share data; per share data is based on weighted average shares outstanding during the period, except as otherwise noted) Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Net Investment Income Per Share $0.32 $0.41 $0.40 $0.42 $0.42 Net Realized a

  4. Slide 4: Portfolio Highlights

    Portfolio Highlights As of and For Three Months Ended Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 (Dollar amounts in thousands) Investments at Fair Value $2,464,534 $2,798,879 $3,013,338 $3,384,250 $3,807,639 Number of Portfolio Companies 65 69 74 82 90 Average Investment

  5. Slide 5: Portfolio Highlights – New Portfolio Activity

    Portfolio Highlights – New Portfolio Activity For Three Months Ended ​(Dollar amounts in thousands) Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $852,298 $321,604 $217,383 $458,410 $557,311 New Inves

  6. Slide 6: Portfolio Highlights – Asset Mix

    Portfolio Highlights – Asset Mix 90 24 $214mm $3.8bn Portfolio Portfolio Portfolio Company 12.0% Portfolio Size EBITDA1 Portfolio Yield2 Companies Industries (Traditional Financing) 3% Weighted Average Borrower Statistics1: 10% ​Traditional Q3 2023 Q4 2023 2% (82.6% of portfolio by FV) 5% Revenue $9

  7. Slide 7: Portfolio Highlights – Diversification

    Portfolio Highlights – Diversification Borrower Diversification Industry Diversification (By End Market) Systems Software 28.0% Kaseya: 3.9% Circana: 3.8% Application Software 15.8% Sailpoint: 3.8% Diversified Financial Services 9.5% CSI: 3.8% Health Care Technology 8.9% Anaplan: 3.7% Health Care Pr

  8. Slide 8: Quarterly Statements of Financial Condition

    Quarterly Statements of Financial Condition As of (Dollar amounts in thousands, except per share data; per share data is Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 based period end shares, except as otherwise noted) Assets Investments at Fair Value $2,464,534 $2,798,879 $

  9. Slide 9: Quarterly Operating Results Detail

    Quarterly Operating Results Detail For the Three Months Ended ​(Dollar and share amounts in thousands) Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 Investment Income Interest Income $46,415 $63,817 $76,443 $88,085 $101,435 Dividend Income $8,991 $13,035 $10,701 $10,096 $10,

  10. Slide 10: Portfolio Highlights – Internal Portfolio Ratings

    Portfolio Highlights – Internal Portfolio Ratings There were no investments on non-accrual as of 12/31/23. (Dollar amounts in thousands) ​Internal March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 Performance Rating Investments at % of Total Investments at % of Total Investments at %

  11. Slide 11: Debt Obligations and Maturity Ladder

    Debt Obligations and Maturity Ladder Aggregate Principal Amount Principal Committed / Amount Outstanding Outstanding Interest Rate Maturity Date Debt Maturities ($mm) Revolving Credit $825 million $288 million SOFR + 200 10/13/2028 Facility $900 $913 Subscription Credit $800 million $800 million SOF

  12. Slide 12: Dividend Information

    Dividend Information Dividend Yield Based on NAV1 7.7% 7.8% 7.4% 6.6% 4.4% Quarterly Dividend $0.29 $0.30 $0.27 $0.24 1.4% $0.16 $0.05 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Dividend Data Date Record Payment Dividend Dividend Per Declared Date Date Type Share 08/02/2022 09/30/2022 11/15/2022 Q3‘22 Quar

  13. Slide 13: Important Information

    Important Information Unless otherwise noted the Report Date referenced herein is as of 12/31/2023. Past performance is not a guarantee of future results. The information contained in this presentation should be viewed in conjunction with the Company’s most recently-filed Quarterly Report on Form 10

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