Blue Owl Capital Inc. · NYSE:OWL
Blue Owl Capital — Blue Owl Technology Finance Corp. II — Q2 2024 Earnings Presentation
13 slides from Blue Owl Capital's earnings presentation, August 2024
Slide 1: Blue Owl Technology Finance Corp. II Quarterly Earnings Presentation
June 30, 2024 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
Slide 2: Review of Q2 2024
Review of Q2 2024 • Net asset value per share of $15.61, up from $15.53 as of 3/31/2024 • Net investment income per share of $0.50, up from $0.46 as of 3/31/2024 Earnings Summary • Net income per share of $0.45, down from $0.57 as of 3/31/2024 • Annualized ROE on net investment income and net income
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) Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Net Investment Income Per Share $0.40 $0.42 $0.42 $0.46 $0.50 Net Realized a
Slide 4: Portfolio Highlights
Portfolio Highlights As of and For Three Months Ended June 30, 2023 September 30, December 31, March 31, 2024 June 30, 2024 (Dollar amounts in thousands) 2023 2023 Investments at Fair Value $3,013,338 $3,384,250 $3,807,639 $3,985,044 $4,613,325 Number of Portfolio Companies 74 82 90 98 113 Average I
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $217,382 $457,692 $557,030 $413,065 $1,716,268
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 113 29 $250mm $4.6bn Portfolio Portfolio Portfolio Company 11.6% Portfolio Size EBITDA1 Portfolio Yield2 Companies Industries (Traditional Financing) 3% Weighted Average Borrower Statistics1: 8% Traditional 2% (86.7% of portfolio by Q1 2024 Q2 2024 4% FV) Revenue $9
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification (By End Market) Systems Software 24.4% Kaseya: 3.4% NPD: 3.3% Application Software 16.7% CSI: 3.3% Grayshift: 3.2% Diversified Financial Services 11.6% Anaplan: 3.2% Health Care Technology 9.4% Sailpoint. 3.2% I
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 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $3,013,338 $3,
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 Investment Income Interest Income $76,443 $88,085 $101,435 $108,962 $126,492 Dividend Income $10,701 $10,096 $10,486
Slide 10: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings There were no investments on non-accrual as of 66/30/2024. (Dollar amounts in thousands) Internal September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 Performance Rating Investments at % of Total Investments at % of Total Investments at
Slide 11: Debt Obligations and Maturity Ladder
Debt Obligations and Maturity Ladder Aggregate Principal Amount Principal Committed / Amount Outstanding Outstanding Interest Rate Maturity Date Debt Maturities1 ($mm) Revolving Credit $1,913 $1,075 million $447 million SOFR + 200 10/13/2028 Facility Subscription Credit $800 million $480 million SOF
Slide 12: Dividend Information
Dividend Information Dividend Yield Based on NAV1 9.5% 9.5% 8.5% 7.7% 7.8% 7.3% 6.5% Quarterly Dividend 4.4% $0.37 $0.37 $0.30 $0.33 $0.27 $0.29 $0.24 1.4% $0.16 $0.05 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Dividend Data Date Record Payment Dividend Dividend Per Declared Date Date Typ
Slide 13: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 6/30/2024. 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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