Blue Owl Capital Inc. · NYSE:OWL

Blue Owl Capital — Blue Owl Technology Finance Corp. II — Q1 2024 Earnings Presentation

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

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

    March 31, 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

  2. Slide 2: Review of Q1 2024

    Review of Q1 2024 • Net asset value per share of $15.53, up from $15.32 as of 12/31/2023 • Net investment income per share of $0.46, up from $0.42 as of 12/31/2023 Earnings Summary • Net income per share of $0.57, down from $0.59 as of 12/31/2023 • Annualized ROE on net investment income and net inc

  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) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Net Investment Income Per Share $0.41 $0.40 $0.42 $0.42 $0.46 Net Realized a

  4. Slide 4: Portfolio Highlights

    Portfolio Highlights As of and For Three Months Ended March 31, 2023 June 30, 2023 September 30, December 31, March 31, 2024 (Dollar amounts in thousands) 2023 2023 Investments at Fair Value $2,798,879 $3,013,338 $3,384,250 $3,807,639 $3,985,044 Number of Portfolio Companies 69 74 82 90 98 Average I

  5. Slide 5: Portfolio Highlights – New Portfolio Activity

    Portfolio Highlights – New Portfolio Activity For Three Months Ended ​(Dollar amounts in thousands) March 31, 2023 June 30, 2023 September 30, December 31, March 31, 2024 2023 2023 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $321,604 $217,383 $458,410 $557,311 $413,065

  6. Slide 6: Portfolio Highlights – Asset Mix

    Portfolio Highlights – Asset Mix 98 25 $225mm $4.0bn Portfolio Portfolio Portfolio Company 11.8% Portfolio Size EBITDA1 Portfolio Yield2 Companies Industries (Traditional Financing) 3% Weighted Average Borrower Statistics1: 9% ​Traditional Q4 2023 Q1 2024 1% (86.1% of portfolio by FV) 5% Revenue $93

  7. Slide 7: Portfolio Highlights – Diversification

    Portfolio Highlights – Diversification Borrower Diversification Industry Diversification (By End Market) Systems Software 27.4% Kaseya: 3.9% Application Software 15.4% CSI: 3.8% Circana: 3.8% Diversified Financial Services 11.8% Sailpoint: 3.7% Health Care Technology 8.6% Anaplan: 3.6% Health Care P

  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 March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $2,798,879 $3

  9. Slide 9: Quarterly Operating Results Detail

    Quarterly Operating Results Detail For the Three Months Ended ​(Dollar and share amounts in thousands) March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 Investment Income Interest Income $63,817 $76,443 $88,085 $101,435 $108,962 Dividend Income $13,035 $10,701 $10,096

  10. Slide 10: Portfolio Highlights – Internal Portfolio Ratings

    Portfolio Highlights – Internal Portfolio Ratings There were no investments on non-accrual as of 3/31/2024. (Dollar amounts in thousands) ​Internal June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 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 Maturities1, 3 ($mm) Revolving Credit $1,613 $925 million $225 million SOFR + 200 10/13/2028 Facility Subscription Credit $800 million $560 million SO

  12. Slide 12: Dividend Information

    Dividend Information Dividend Yield Based on NAV1 8.4% 7.7% 7.8% 7.4% 6.6% Quarterly Dividend 4.4% $0.33 $0.27 $0.29 $0.30 $0.24 1.4% $0.16 $0.05 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Dividend Data Date Record Payment Dividend Dividend Per Declared Date Date Type Share 08/02/2022 09/30/2022 11/1

  13. Slide 13: Important Information

    Important Information Unless otherwise noted the Report Date referenced herein is as of 3/31/2024. 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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