Blue Owl Real Estate provides investment advisory services through the Real Estate platform of Blue Owl to investment funds offered to qualified investors in the United States and elsewhere (the “Blue Owl Private Funds”) as well as fund-of-one or other separately managed account clients (“Blue Owl Real Estate SMA Clients” and with the Blue Owl Private Funds, “Blue Owl Real Estate Clients”). Blue Owl Real Estate’s founding members began working together in 2006 under the name Oak Street Partners, LLC. Blue Owl Real Estate is principally owned, through certain intermediary vehicles, by Blue Owl Capital Inc. (“Blue Owl”), which is a publicly traded company listed on the New York Stock Exchange (NYSE: OWL), and an affiliate of Neuberger Berman Group LLC and is controlled by Blue Owl. Blue Owl is controlled by the founders and principals of Blue Owl. More information about Blue Owl Real Estate’s owners and executive officers is available in Blue Owl Real Estate’s Form ADV, in Part 1A, Schedules A/B. As of December 31, 2023, Blue Owl Real Estate managed approximately $26.8 billion on a discretionary basis and $127 million on a non-discretionary basis. Blue Owl, through Blue Owl Real Estate and together with the other SEC-registered investment advisers associated with the Credit and GP Strategic Capital platforms of Blue Owl (collectively, the “Blue Owl Advisers”), managed approximately $165.7 billion (based on information as of December 31, 2023).1 Blue Owl Private Funds and their Strategies Blue Owl Real Estate, specializing in real estate and real estate-related investments, serves as an investment manager and provides discretionary investment advisory services to its clients. Blue Owl Real Estate is focused on a targeted net lease strategy (“Net Lease”) where Blue Owl Real Estate believes they have competitive advantages and can achieve attractive risk-adjusted returns. Net Lease targets single tenant properties within the U.S. that are net leased to 1 For the purposes of these calculations, for Blue Owl Credit, assets under management (approximately $84.6 billion based on information as of December 31, 2023) represents the sum of (i) total assets of clients (including assets acquired with leverage) managed by Blue Owl Credit, (ii) undrawn debt available to these clients (including certain amounts subject to restrictions), (iii) uncalled committed capital of these clients (including commitments to products that have yet to commence their investment periods), and (iv) par value of collateral for collateralized loan obligations. For Blue Owl GP Strategic Capital, assets under management (approximately $54.2 billion based on information as of December

31, 2023) represents the sum of (i) total assets of clients (including assets acquired with leverage) managed by Blue Owl GP Strategic Capital and (ii) uncalled committed capital of these clients (including commitments to products that have yet to commence their investment period. For Blue Owl Real Estate, assets under management (approximately $26.9 billion based on information as of December 31, 2023) represents the sum of (i) total assets of clients (including assets acquired with leverage) managed by Blue Owl Real Estate, (ii) undrawn debt available to these clients (including certain amounts subject to restrictions), and (iii) uncalled committed capital of these clients (including commitments to products that have yet to commence their investment periods). 5 | P a g e investment grade and creditworthy companies with target lease terms of at varying duration, depending on the fund. Blue Owl Real Estate’s advisory services to the Blue Owl Private Funds are detailed in the relevant private placement memorandum or other offering documents, limited partnership or other operating agreements of the Blue Owl Private Funds (“Offering Materials”) and are further described below under Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss. Blue Owl Real Estate has overall responsibility for implementing the investment strategies of the Blue Owl Private Funds and has the authority to select investments within the stated investment strategies and objectives of each Blue Owl Private Fund (such investments, together with investments of each Blue Owl Real Estate Client, “Portfolio Investments”). Blue Owl Real Estate generally does not tailor advice given to a Blue Owl Private Fund based on the individualized needs of any particular investor. Each investor in a Blue Owl Private Fund (“Investors”) must consider whether that Blue Owl Private Fund meets such Investor’s investment objectives and risk tolerances prior to investing. Blue Owl Real Estate SMA Clients Blue Owl Real Estate may also manage accounts for Blue Owl Real Estate SMA Clients and has the ability to build fully customizable separately managed accounts, which can be structured as a traditional separate account or as a fund of one (both of which are referred to as “Blue Owl Real Estate SMA Clients” in this Brochure), depending on the client’s preferences. Blue Owl Real Estate generally works with each client to design portfolio construction guidelines including investment objectives, constraints and preferences as well as monitoring and reporting obligations. Refer to Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss and Item 13 — Review of Accounts for further discussion on Blue Owl Real Estate’s investment process. 6 | P a g e