OCIC — Private Credit

Tender history · 19 windows · Q3-21 – Q1-26

requested ÷ capacity · log scale · 1.0× cap rule

Filled in full: 19 of 19 · 2 of 19 windows drew demand above the cap — still honored

Q3-211.0× capQ1-26

Q1-26 · 4.38× requested ÷ capacity · exceeded cap · 100% honored · click a window to replay it below

Request calculatorif you had asked in Q1-26 · drag, or pick a window above

you request$174,000

$10k$1M

$174,000returned in full — requests were honoredamount × filed proration factor 22.822 · SC TO-I/A · arithmetic on filed results, not advice

Lien mix

First lien87.3%

Second lien3.8%

Subordinated1.2%

Equity / other7.7%

Sector allocation

13.2%Healthcare providers and services

100%-stacked share of disclosed allocation · sweep to read · click a sector to filter the named book

Σ 100.0% disclosed · pct_of_portfolio · 22 more beyond top 8 at 37.2% · segments share of disclosed total

Tranche-level detailcoupon · maturity · PIK / default flags

Modules shown reflect what this fund discloses — questions that don't apply to this vehicle type are omitted.

How levered?

The balance sheet the latest filing stated, the two leverage multiples it implies, the rate / FX hedge book that sits against it, and the per-facility debt schedule beneath.

How concentrated?

Single-name issuer risk — the largest names' share of the book and a Herfindahl index over every issuer, with the named top-25 roster one click down.

How risky?

Borrower-quality and credit-stress depth — non-accrual on both bases, underwriting metrics, and the manager’s own internal risk-rating distribution.

How is it valued?

The mark and the inputs behind it — the Level I / II / III fair-value hierarchy and the unobservable inputs render in The Book · Marks.

What does it cost?

The management + incentive structure and the per-class servicing / distribution load behind the headline rate.

How does it perform?

Per-share return, earnings quality, and yield trajectory.

How liquid?

The forward-funding obligation behind the exit terms — per-borrower unfunded commitments, reconciled to the disclosed aggregate.

7 of 8disclosure families disclosed by this fund

fund silence and AltHarbor coverage are different facts — both stated per family

Disclosure family	Status	Latest source
Exit mechanics →	Disclosed	Amended registration statement · filed Aug 21
Tender record →	Disclosed	Amended tender offer · filed Apr 27
Per-class economics →	Disclosed	Annual report · filed Apr 20
Distribution composition →	Disclosed	Annual report · filed Mar 3
Fair-value hierarchy →	Disclosed	Quarterly report · filed May 11
Unobservable inputs →	Not yet covered by AltHarbor	—
Credit measures →	Disclosed	Quarterly report · filed May 11
Portfolio composition →	Disclosed	Quarterly report · filed May 11

Tender history · 19 windows · Q3-21 – Q1-26

requested ÷ capacity · log scale · 1.0× cap rule

Filled in full: 19 of 19 · 2 of 19 windows drew demand above the cap — still honored

Q3-211.0× capQ1-26

Q1-26 · 4.38× requested ÷ capacity · exceeded cap · 100% honored · click a window to replay it below

Request calculatorif you had asked in Q1-26 · drag, or pick a window above

you request$174,000

$10k$1M

$174,000returned in full — requests were honoredamount × filed proration factor 22.822 · SC TO-I/A · arithmetic on filed results, not advice

Lien mix

First lien87.3%

Second lien3.8%

Subordinated1.2%

Equity / other7.7%

Sector allocation

13.2%Healthcare providers and services

100%-stacked share of disclosed allocation · sweep to read · click a sector to filter the named book

Σ 100.0% disclosed · pct_of_portfolio · 22 more beyond top 8 at 37.2% · segments share of disclosed total

Tranche-level detail864 positions filed · 60 pay in kindcoupon · maturity · PIK / default flags

Modules shown reflect what this fund discloses — questions that don't apply to this vehicle type are omitted.

How levered?

The balance sheet the latest filing stated, the two leverage multiples it implies, the rate / FX hedge book that sits against it, and the per-facility debt schedule beneath.

How concentrated?

Single-name issuer risk — the largest names' share of the book and a Herfindahl index over every issuer, with the named top-25 roster one click down.

How risky?

Borrower-quality and credit-stress depth — non-accrual on both bases, underwriting metrics, and the manager’s own internal risk-rating distribution.

How is it valued?

The mark and the inputs behind it — the Level I / II / III fair-value hierarchy and the unobservable inputs render in The Book · Marks.

What does it cost?

The management + incentive structure and the per-class servicing / distribution load behind the headline rate.

How does it perform?

Per-share return, earnings quality, and yield trajectory.

How liquid?

The forward-funding obligation behind the exit terms — per-borrower unfunded commitments, reconciled to the disclosed aggregate.

7 of 8disclosure families disclosed by this fund

fund silence and AltHarbor coverage are different facts — both stated per family

Disclosure family	Status	Latest source
Exit mechanics →	Disclosed	Amended registration statement · filed Aug 21
Tender record →	Disclosed	Amended tender offer · filed Apr 27
Per-class economics →	Disclosed	Annual report · filed Apr 20
Distribution composition →	Disclosed	Annual report · filed Mar 3
Fair-value hierarchy →	Disclosed	Quarterly report · filed May 11
Unobservable inputs →	Not yet covered by AltHarbor	—
Credit measures →	Disclosed	Quarterly report · filed May 11
Portfolio composition →	Disclosed	Quarterly report · filed May 11

Net asset value composition · as disclosed

A per-share NAV composition is the monthly disclosure of NAV-struck perpetual REITs; this fund’s valuation — the Level I / II / III fair-value hierarchy and the unobservable inputs behind the marks — renders in The Book · Marks

Distribution composition · per share

T12M0.97×NII coverageROC share0.0%ROC shareClass I · 14 of 23 T12M distributions decomposed

Last 30 distributions for Class I: 11/05/24 $0.0701, NII $0.0701, return of capital $0.0000; 02/18/25 $0.0701, NII $0.0683, return of capital $0.0000; 02/18/25 $0.0701, NII $0.0683, return of capital $0.0000; 02/18/25 $0.0701, NII $0.0683, return of capital $0.0000; 02/18/25 $0.0701, NII $0.0683, return of capital $0.0000; 02/18/25 $0.1028, NII $0.1001, return of capital $0.0000; 02/18/25 $0.0701, NII $0.0683, return of capital $0.0000; 05/06/25 $0.0701, NII $0.0683, return of capital $0.0000; 05/06/25 $0.1028, NII $0.1001, return of capital $0.0000; 05/06/25 $0.0701, NII $0.0683, return of capital $0.0000; 05/06/25 $0.0701, NII $0.0683, return of capital $0.0000; 05/06/25 $0.0701, NII $0.0683, return of capital $0.0000; 05/06/25 $0.0701, NII $0.0683, return of capital $0.0000; 08/05/25 $0.1028, NII $0.1001, return of capital $0.0000; 08/05/25 $0.0701, NII $0.0683, return of capital $0.0000; 08/05/25 $0.0701, NII $0.0683, return of capital $0.0000; 08/05/25 $0.0701, NII $0.0683, return of capital $0.0000; 08/05/25 $0.0701, NII $0.0683, return of capital $0.0000; 08/05/25 $0.0701, NII $0.0683, return of capital $0.0000; 11/04/25 $0.0701, components not disclosed; 11/04/25 $0.0701, components not disclosed; 11/04/25 $0.0701, NII $0.0683, return of capital $0.0000; 11/06/25 $0.0801, components not disclosed; 11/06/25 $0.0701, NII $0.0683, return of capital $0.0000; 02/18/26 $0.0701, components not disclosed; 02/18/26 $0.0701, components not disclosed; 02/18/26 $0.0701, components not disclosed; 05/05/26 $0.0701, components not disclosed; 05/05/26 $0.0701, components not disclosed; 05/05/26 $0.0701, components not disclosed

NII · realized gains · return of capital · components not disclosed · last 30 declarations, Class I

coverage ratio (NII ÷ distribution)NII coverage ratio per distribution, Class I, reference 1.0× — income covered the distribution: 2025-02-18 0.97, 2025-02-18 0.97, 2025-05-06 0.97, 2025-05-06 0.97, 2025-05-06 0.97, 2025-05-06 0.97, 2025-05-06 0.97, 2025-05-06 0.97, 2025-08-05 0.97, 2025-08-05 0.97, 2025-08-05 0.97, 2025-08-05 0.97, 2025-08-05 0.97, 2025-08-05 0.97, 2025-11-04 0.97, 2025-11-06 0.97

Annual coverage · Class I · where each year’s distribution came from

Year	$/sh	from NII	from gains	return of capital	Read
2025	$1.8132	97%	3%	0%	Low ROC
2024	$1.1823	100%	0%	0%	Low ROC
2023	$0.9134	100%	0%	0%	Low ROC
2022	$0.6548	100%	0%	0%	Low ROC

Return of capital is the portion paid from invested principal rather than income or realized gains; a sustained high reading erodes NAV. Annual roll-up of the same filings charted above.

NAV & flows · 22 quarters

Fund NAV$19.1BQ1-26 · as of 03/31/26

q/q change▼ 3.1%

Subscriptions+$670M

Repurchases−$963M

hover or touch the chart to scrub

22 quarters

aggregate · USD

Aggregate USDhigh$19.8Blow$12.3M

Flows · 22 quarters

subscriptions · repurchases

Aggregate fund NAV by quarter: Q4-20 $12.3M, Q1-21 $37.9M, Q2-21 $210M, Q3-21 $631M, Q4-21 $1.58B, Q1-22 $2.76B, Q2-22 $3.86B, Q3-22 $4.71B, Q4-22 $5.25B, Q1-23 $5.87B, Q2-23 $6.69B, Q3-23 $7.66B, Q4-23 $8.89B, Q1-24 $10.2B, Q2-24 $11.8B, Q3-24 $13.2B, Q4-24 $14.5B, Q1-25 $16.3B, Q2-25 $17.5B, Q3-25 $19.3B, Q4-25 $19.8B, Q1-26 $19.1B. Quarterly subscription and repurchase flows cover 22 quarters. 76 material events on record.

Credit measures · as disclosed · 03/31/26

4 of 7 disclosed

Non-accrual

0.4% / 0.2%cost / fair value

PIK income

6.1%of total investment income

Interest coverage

2.10×

Debt / equity

0.83×PC disclosing n=7 · 0.59×–0.82×–1.06×this fund 0.83× against PC disclosing (n=7): minimum 0.59×, median 0.82×, maximum 1.06×

Not disclosed by this fund: watch list · net leverage · ttm realized losses

PIK detail

Interest$35.3M

Dividend$15.4M

non-accrual basis: both_amortized_and_fair

Changes · recent

76 on record

medium severity05/05/26OCIC disclosed a credit facility amendment or upsize in its 2026-05-11 8-K.
medium severity04/27/26OCIC disclosed a debt financing or notes offering in its 2026-05-01 8-K.
medium severity04/23/26OCIC disclosed an unregistered equity sale / capital raise in its 2026-04-23 8-K.

full record →

Changes · restated material events

severity: AltHarbor classification76 on record

medium severity04/27/26OCIC disclosed a debt financing or notes offering in its 2026-05-01 8-K.
medium severity04/23/26OCIC disclosed an unregistered equity sale / capital raise in its 2026-04-23 8-K.
medium severity04/08/26Moody's cut the outlook on Blue Owl's private credit fund (OCIC) following the Q1 2026 redemption surge. Cited investor sentiment / liquidity-management concerns. Rating itself unchanged.
high severity04/02/26Q1 2026 tender requests reached 21.9% of shares outstanding (~$4.4B). Blue Owl enforced 5% quarterly cap on a pro-rata basis, fulfilling ~$988M (~23% fill rate). Gross inflows of ~$872M nearly offset, net outflows ~$116M (~7bps of fee-paying AUM). 90% of ~90,000 shareholders did not tender.
medium severity03/23/26OCIC disclosed an unregistered equity sale / capital raise in its 2026-03-27 8-K.
medium severity

Share classes · 3 classes

3 of 3 disclosed

Stated fees · mgmt solid · servicing hatch · distribution hollow · bars share a scale · click a class to read the act through it

Cls	Net assets	% fund	Stated fee	Min initial	Channel
Class Dretail			Class Class D stated fees: management 1.3 percent, servicing 0.3 percent1.50%
Retail class with lower distribution/servicing fee than Class S. Wirehouse fee-based and IRA channel. · since 03/01/21
Class Sretail			Class Class S stated fees: management 1.3 percent, servicing 0.8 percent2.10%
Retail class with sales load and ongoing distribution/servicing fee; primary brokerage channel. · since 04/01/21
Class Iinstitutional			Class Class I stated fees: management 1.3 percent1.25%
Institutional / fee-based RIA class; no sales load, no distribution/servicing fee. · since 11/10/20

Incentive fee: 12.5% over a 5.0% hurdle · hard hurdle with catch-up · fund level
Management-fee base: Equity
Expense ratio after waivers: not yet covered by AltHarbor

Balance sheet & leverage · as disclosed · 03/31/26

4 of 9 disclosed

Total assets

$36.9B

Total liabilities

$17.8B

Net assets

$19.1B

Assets invested

$35.5B

Derived leverage

Liabilities / net assets

0.93×derived

Total assets / net assets

1.93×derived

10-Q SOAL ($ thousands scaled). BDC. net_assets ties stored Fund NAV; assets_invested from investments at fair value.

Derivatives & hedging · as disclosed · 03/31/26

4 of 4 disclosed

Total notional

$5.29Ball instruments · 03/31/26

Rate-swap notional

$4.95Binterest-rate swaps · 03/31/26

FX notional

$336MFX forwards / swaps · 03/31/26

Net fair value

−$16.4Massets − liabilities · ties to balance sheet · 03/31/26

12 contracts · derivative assets $25.4M · liabilities −$41.8M. Notional is gross face, not market exposure.

Per-contract detail12 lines · pay / receive · counterparty · maturity

Instrument	Notional	Pay / receive	Fair value	Maturity	Counterparty
Interest-rate swap	$1.00B	—	−$17.6M	03/01/30	Goldman Sachs Bank USA
Interest-rate swap	$900M	—	$16.4M	09/01/29	Goldman Sachs Bank USA
Interest-rate swap	$750M	—	$2.34M	03/01/31	Deutsche Bank AG
Interest-rate swap	$650M	—	−$4.02M

OCIC disclosed a debt financing or notes offering in its 2026-03-09 8-K.

Earlier events69 more · through 01/25/24

medium severity03/05/26OCIC disclosed a credit facility event in its 2026-03-09 8-K.
medium severity02/24/26OCIC disclosed an unregistered equity sale / capital raise in its 2026-02-27 8-K.
low severity02/18/26Blue Owl BDCs sold $1.4B of assets across OBDC/OTIC/OCIC to four institutional buyers at 99.7% of par, validating Level 3 marks during the redemption stress.
medium severity01/26/26OCIC disclosed an unregistered equity sale / capital raise in its 2026-01-28 8-K.
medium severity12/31/25OCIC disclosed a credit facility event in its 2026-01-06 8-K.
medium severity12/22/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-12-23 8-K.
medium severity11/25/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-11-26 8-K.
medium severity10/23/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-10-24 8-K.
medium severity10/10/25OCIC disclosed a credit facility amendment or upsize in its 2025-10-15 8-K.
medium severity09/24/25OCIC disclosed a debt financing or notes offering in its 2025-09-29 8-K.
medium severity09/24/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-09-24 8-K.
medium severity09/09/25OCIC disclosed a debt financing or notes offering in its 2025-09-11 8-K.
medium severity08/22/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-08-25 8-K.
medium severity08/12/25OCIC disclosed a credit facility event in its 2025-08-18 8-K.
medium severity07/24/25OCIC disclosed a credit facility amendment or upsize in its 2025-07-28 8-K.
medium severity07/23/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-07-25 8-K.
medium severity07/23/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-07-24 8-K.
medium severity07/10/25OCIC disclosed a credit facility amendment or upsize in its 2025-07-14 8-K.
low severity06/26/25OCIC reported shareholder voting results in this 8-K.
medium severity06/24/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-06-25 8-K.
medium severity05/23/25OCIC disclosed a debt financing or notes offering in its 2025-05-23 8-K.
medium severity05/22/25OCIC disclosed a credit facility amendment or upsize in its 2025-05-27 8-K.
medium severity05/22/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-05-23 8-K.
medium severity05/15/25OCIC disclosed a credit facility amendment or upsize in its 2025-05-20 8-K.
medium severity05/15/25OCIC disclosed a credit facility amendment or upsize in its 2025-05-20 8-K.
medium severity04/29/25On April 29, 2025, Core Income Funding V LLC executed the Third Amendment to its Loan and Security Agreement with Wells Fargo Bank: total commitment increased from $500M to $750M; Minimum Equity Amount amended; Non-Usage Fee amended to 0.50%-1.25% subject to minimum utilization of 60%-67.5% during the Reinvestment Period.
medium severity04/24/25OCIC disclosed a debt financing or notes offering in its 2025-04-29 8-K.
medium severity04/23/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-04-24 8-K.
medium severity04/18/25OCIC disclosed a credit facility amendment or upsize in its 2025-04-24 8-K.
medium severity04/04/25OCIC (Blue Owl Credit Income Corp.) disclosed establishment of a €5 billion Global Medium Term Note (GMTN) program arranged via Deutsche Bank, with Deutsche Bank Trust entities as agents and the program listed on The International Stock Exchange (TISE). Furnished under Item 7.01; captured as a material financing-program event.
medium severity03/24/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-03-25 8-K.
medium severity02/28/25OCIC disclosed a credit facility amendment or upsize in its 2025-03-03 8-K.
medium severity02/25/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-02-26 8-K.
medium severity01/24/25OCIC disclosed an unregistered equity sale / capital raise in its 2025-01-27 8-K.
medium severity01/16/25OCIC disclosed a debt financing or notes offering in its 2025-01-22 8-K.
medium severity12/23/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-12-26 8-K.
medium severity12/17/24OCIC disclosed a credit facility event in its 2024-12-20 8-K.
medium severity11/25/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-11-26 8-K.
medium severity11/12/24OCIC disclosed a credit facility amendment or upsize in its 2024-11-15 8-K.
medium severity10/29/24OCIC disclosed a debt financing or notes offering in its 2024-10-31 8-K.
medium severity10/23/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-10-24 8-K.
medium severity10/21/24OCIC disclosed a debt financing or notes offering in its 2024-10-23 8-K.
medium severity10/18/24OCIC disclosed a credit facility amendment or upsize in its 2024-10-24 8-K.
medium severity10/18/24OCIC disclosed a credit facility amendment or upsize in its 2024-10-21 8-K.
medium severity10/16/24On October 16, 2024, Core Income Funding V LLC executed the Second Amendment to its Loan and Security Agreement with Wells Fargo Bank: total commitment increased from $300M to $500M; Applicable Margin reduced from 2.70% to a 1.60%-2.05% range; Non-Usage Fee amended to 0.50%-1.25% subject to minimum utilization; reinvestment period extended to October 15, 2027; maturity extended to October 16, 2029.
medium severity09/24/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-09-25 8-K.
medium severity09/10/24OCIC disclosed a debt financing or notes offering in its 2024-09-13 8-K.
medium severity08/22/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-08-23 8-K.
medium severity08/09/24OCIC disclosed a credit facility amendment or upsize in its 2024-08-15 8-K.
medium severity07/30/24OCIC disclosed a credit facility amendment or upsize in its 2024-08-01 8-K.
medium severity07/23/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-07-24 8-K.
medium severity07/18/24OCIC disclosed a debt financing or notes offering in its 2024-07-23 8-K.
medium severity07/12/24OCIC disclosed a debt financing or notes offering in its 2024-07-17 8-K.
low severity06/28/24On June 28, 2024, Core Income Funding V LLC (a Blue Owl Credit Income Corp. subsidiary) executed the First Amendment to its Loan and Security Agreement with Wells Fargo Bank as administrative agent, changing the reference rate for Canadian Dollar borrowings from CDOR to CORRA (with a credit spread adjustment). No change to commitment size or maturity.
medium severity06/25/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-06-26 8-K.
low severity06/21/24OCIC reported shareholder voting results in this 8-K.
medium severity05/22/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-05-23 8-K.
medium severity05/21/24OCIC disclosed a debt financing or notes offering in its 2024-05-21 8-K.
medium severity05/21/24OCIC disclosed a credit facility event in its 2024-05-23 8-K.
medium severity05/14/24OCIC disclosed a debt financing or notes offering in its 2024-05-15 8-K.
medium severity04/22/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-04-23 8-K.
medium severity03/22/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-03-25 8-K.
medium severity03/07/24OCIC disclosed a debt financing or notes offering in its 2024-03-11 8-K.
medium severity03/07/24OCIC disclosed a credit facility amendment or upsize in its 2024-03-11 8-K.
medium severity03/01/24OCIC disclosed a credit facility amendment or upsize in its 2024-03-06 8-K.
medium severity02/21/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-02-27 8-K.
medium severity01/30/24OCIC disclosed a debt financing or notes offering in its 2024-02-01 8-K.
medium severity01/29/24OCIC disclosed a debt financing or notes offering in its 2024-02-01 8-K.
medium severity01/25/24OCIC disclosed an unregistered equity sale / capital raise in its 2024-01-25 8-K.

Window-by-window record

Cap: 5.0% sh. out./qtr (all windows) · 18 of 19 windows filled in full · 1 prorated · 2 gated

Window	Req ÷ cap	Requested	Accepted	Price
Q1-26⊘accepted 22.8% of shares requested, requests exceeded the stated cap	4.38×	463.8M sh	105.9M sh	$9.10
Q4-25⊘accepted 100.0% of shares requested, requests exceeded the stated cap	1.05×	108.2M sh	108.2M sh	$9.34
Q3-25	0.36×	33.8M sh	33.8M sh	$9.41
Q2-25	0.57×	49.2M sh	49.2M sh	$9.45
Q1-25	0.28×	21.5M sh	21.5M sh	$9.49
Q4-24	0.29×	20.2M sh	20.2M sh	$9.57
Q3-24	0.26×	15.9M sh	15.9M sh	$9.57
Q2-24	0.30×	15.9M sh	15.9M sh	$9.56
Q1-24	0.32×	14.9M sh	14.9M sh	$9.53
Q4-23	0.30×	12.0M sh	12.0M sh	$9.50
Q3-23	0.31×	11.0M sh	11.0M sh	$9.43
Q2-23	0.26×	8.2M sh	8.2M sh	$9.31
Q1-23	0.36×	10.1M sh	10.1M sh	$9.24
Q4-22	0.47×	12.2M sh	12.2M sh	$9.08
Q3-22	0.23×	4.9M sh	4.9M sh	$9.01
Q2-22	0.20×	3.1M sh	3.1M sh	$8.88
Q1-22	0.29×	2.5M sh	2.5M sh	$9.26
Q4-21	0.04×	151.3K sh	151.3K sh	$9.34
Q3-21	0.03×	37.2K sh	37.2K sh	$9.32

⊘ = requests exceeded the stated cap · fill bars on prorated windows only · requested basis: shares tendered · rows expand (tap or e)

Exit mechanics

9 of 12 disclosed

Frequency: Quarterly tender
Cap: 5.0% of shares outstanding / qtr
Annual cap: Not disclosed
Gate cap: 5.0%
Notice period: 30d
Settlement lag: Not disclosed
Early repurchase fee: Not disclosed
Lockup: None stated
Min investment: $25,000
Accreditation: Qualified Purchaser
Tax form: 1099
Program type: Quarterly tender

Windows observed: 19 · median open-to-pricing 35d · derived from filed window dates

146filings on record · 2021–2026latest filed 05/26/26

every filing on record · one tick per filing · hue = type, height = rarity

Filing index

19 on record · Amended tender offer

Filed	Type	Accession
04/27/26 · period 03/31/26	SC TO-I/AAmended tender offer	0001628280-26-027580 ↗
01/29/26 · period 12/31/25	SC TO-I/AAmended tender offer	0001628280-26-003929 ↗
10/24/25 · period 09/30/25	SC TO-I/AAmended tender offer	0001628280-25-046290 ↗
07/24/25 · period 06/30/25	SC TO-I/AAmended tender offer	0001628280-25-035964 ↗
04/24/25 · period 03/31/25	SC TO-I/AAmended tender offer	0001628280-25-019741 ↗
01/27/25 · period 12/31/24	SC TO-I/AAmended tender offer	0001628280-25-002659 ↗
10/24/24 · period 09/30/24	SC TO-I/AAmended tender offer	0001628280-24-043638 ↗
07/24/24 · period 06/28/24	SC TO-I/AAmended tender offer	0001628280-24-032861 ↗
04/23/24 · period 03/28/24	SC TO-I/AAmended tender offer	0001628280-24-017439 ↗
01/25/24 · period 12/29/23	SC TO-I/AAmended tender offer	0001628280-24-002262 ↗
10/25/23 · period 09/29/23	SC TO-I/AAmended tender offer	0001193125-23-263180 ↗
07/27/23 · period 06/30/23	SC TO-I/AAmended tender offer	0001193125-23-196192 ↗
04/26/23 · period 03/31/23	SC TO-I/AAmended tender offer	0001193125-23-118715 ↗
01/27/23 · period 12/30/22	SC TO-I/AAmended tender offer	0001193125-23-016501 ↗
11/16/22 · period 09/30/22	SC TO-I/AAmended tender offer	0001193125-22-286807 ↗
07/26/22 · period 06/30/22	SC TO-I/AAmended tender offer	0001193125-22-202190 ↗
04/26/22 · period 03/31/22	SC TO-I/AAmended tender offer	0001193125-22-120347 ↗
01/26/22 · period 12/30/21	SC TO-I/AAmended tender offer	0001193125-22-018346 ↗
10/26/21 · period 09/30/21	SC TO-I/AAmended tender offer	0001193125-21-308021 ↗

Debt facilities · as disclosed · 12/31/25

3 of 3 disclosed

Committed

$23.3Btotal facility commitments · 12/31/25

Drawn

$15.7Boutstanding principal · 67.6% of committed · 12/31/25

Undrawn capacity

$4.26Bavailable to draw · 12/31/25

30 facilitiescommitted / drawn / rate / maturity / seniority

Facility	Type	Committed	Drawn	Rate	Maturity	Seniority
SPV Asset Facility IIIUSD/multi-currency	spv facility	$2.00B	$1.23B	Daily SOFR (USD) / SONIA (GBP) / CORRA (CAD) / EURIBOR (EUR) + 153bp	05/22/30	senior_secured
March 2030 Notes	Unsecured notes	$1.00B	$1.00B	5.8%	03/01/30	unsecured
Revolving Credit FacilityUSD/multi-currency	Revolver	$3.85B	$995M	Term SOFR + 188bp	10/18/29	senior_secured
SPV Asset Facility II	spv facility	$2.00B	$932M	Term SOFR + 170bp	04/18/30	senior_secured

Exit4.38×requested ÷ capacity · cap 5.0% sh. out./qtr · exceeded cap

Cost1.50%stated, Cl. Class D

IncomeNot disclosed

Filing record136 filings on record · since 2021 · current period 03/31/26

7'2112'2212'2345'2443'2517'26

Filed	Filing	Period / note
05/26/26	Tender offer filing
05/26/26	Current report	05/22/26
05/12/26	Prospectus supplement
05/11/26	Quarterly report	03/31/26
05/11/26	Current report	05/05/26
05/01/26	Current report	04/27/26
04/27/26	Amended tender offer	OCIC disclosed a debt financing or notes offering in its 2026-05-01 8-K.
04/23/26	Current report	OCIC disclosed an unregistered equity sale / capital raise in its 2026-04-23 8-K.
04/20/26	Annual report
04/02/26	Current report	Q1 2026 tender requests reached 21.9% of shares outstanding (~$4.4B). Blue Owl enforced 5% quarterly cap on a pro-rata basis, fulfilling ~$988M (~23% fill rate). Gross inflows of ~$872M nearly offset, net outflows ~$116M (~7bps of fee-paying AUM). 90% of ~90,000 shareholders did not tender.
03/27/26	Current report	03/23/26
03/09/26	Current report	03/05/26
03/03/26	Annual report	12/31/25
02/27/26	Current report	02/24/26
01/29/26	Amended tender offer	12/31/25
01/28/26	Current report	01/26/26
01/06/26	Current report	12/31/25
12/23/25	Current report	12/22/25
11/26/25	Current report	11/25/25
11/26/25	Tender offer filing
11/06/25	Quarterly report	09/30/25
10/24/25	Amended tender offer	09/30/25
10/24/25	Current report	10/23/25
10/15/25	Current report	10/10/25
09/29/25	Current report	09/24/25
09/24/25	Current report	OCIC disclosed an unregistered equity sale / capital raise in its 2025-09-24 8-K.
09/11/25	Current report	09/09/25
08/26/25	Tender offer filing
08/25/25	Current report	08/22/25
08/21/25	Amended registration statement
08/18/25	Current report	08/12/25
08/07/25	Quarterly report	06/30/25
07/28/25	Current report	07/24/25
07/25/25	Amended current report	07/23/25
07/24/25	Amended tender offer	OCIC disclosed a credit facility amendment or upsize in its 2025-07-28 8-K.
07/24/25	Current report	OCIC disclosed a credit facility amendment or upsize in its 2025-07-28 8-K.
07/14/25	Current report	07/10/25
06/27/25	Current report	06/26/25
06/25/25	Current report	06/24/25
05/27/25	Current report	05/22/25
05/23/25	Current report	OCIC disclosed a debt financing or notes offering in its 2025-05-23 8-K.
05/23/25	Current report	OCIC disclosed a debt financing or notes offering in its 2025-05-23 8-K.
05/23/25	Tender offer filing	OCIC disclosed a debt financing or notes offering in its 2025-05-23 8-K.
05/20/25	Current report	05/15/25
05/20/25	Current report	05/15/25
05/08/25	Quarterly report	03/31/25
05/02/25	Current report	04/29/25
04/29/25	Current report	On April 29, 2025, Core Income Funding V LLC executed the Third Amendment to its Loan and Security Agreement with Wells Fargo Bank: total commitment increased from $500M to $750M; Minimum Equity Amount amended; Non-Usage Fee amended to 0.50%-1.25% subject to minimum utilization of 60%-67.5% during the Reinvestment Period.
04/24/25	Amended tender offer	OCIC disclosed a debt financing or notes offering in its 2025-04-29 8-K.
04/24/25	Current report	OCIC disclosed a debt financing or notes offering in its 2025-04-29 8-K.

Showing the latest 50 of 136 — the complete filing index is above.

864 positions filed · 60 pay in kind

Top positions · 10 of 864 filed

per filed schedule of investments · as of 03/31/26

$561M · 2.9%LSI Financing LLCEquity · +$26.2M unrealized

top 10 = 25.0% of net assets · sum of filed position percents · 864 positions filed in total · ⊕ paid-in-kind · ⊘ in default

Single-name concentration · as disclosed · 03/31/26

6 of 6 disclosed

Top issuer

1.6%largest single name · 03/31/26

Top 10

14.1%top 10 issuers · ▲ 0.9pt vs 12/31/25 · 03/31/26

Top 25

28.2%top 25 issuers · 03/31/26

Herfindahl

59.5HHI over all issuers · ▲ 3.0pt vs 12/31/25 · 03/31/26

Distinct issuers

413names in book · 03/31/26

Co-investment

0.6%affiliated / co-invest positions · 03/31/26

Shares are of the $35.5B portfolio fair value; Herfindahl is Σ(issuer share%)² over all 413 issuers (derived from the schedule of investments).

Top 25 issuersby fair value · 03/31/26

#	Issuer	Fair value	Positions	% portfolio
1	Packaging Coordinators Midco, Inc.	$574M	2	1.61%
2	LSI Financing LLC	$561M	1	1.58%
3	Associations, Inc.	$554M	1	1.56%
4	Deerfield Dakota Holdings	$515M	2	1.45%
5	Rushmore Investment III LLC (dba Winland Foods)	$504M	1	1.42%
6	CCI BUYER, INC. (dba Consumer Cellular)	$493M	1	1.39%
7	BCPE Empire Holdings, Inc. (dba Imperial-Dade)	$473M	3	1.33%
8	MAJCO LLC (dba Big Brand Tire & Service)	$459M	1	1.29%
9	CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	$450M	2	1.27%
10	Minotaur Acquisition, Inc. (dba Inspira Financial)	$434M	1	1.22%
11	Inovalon Holdings, Inc.	$409M	2	1.15%
12	Integrity Marketing Acquisition, LLC	$378M	1	1.06%
13	Troon Golf, L.L.C.	$378M	1	1.06%
14	KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)	$374M	2	1.05%
15	Trucordia Insurance Holdings, LLC	$367M	2	1.03%
16	Rocket BidCo, Inc. (dba Recochem)	$351M	1	0.99%
17	Fifth Season Investments LLC	$346M	1	0.97%
18	Aerosmith Bidco 1 Limited (dba Audiotonix)	$341M	1	0.96%
19	AmeriLife Holdings LLC	$318M	2	0.90%
20	Sensor Technology Topco, Inc. (dba Humanetics)	$305M	3	0.86%
21	Baker Tilly Advisory Group, LP	$302M	2	0.85%
22	Unified Women's Healthcare, LP	$293M	2	0.83%
23	Creek Parent, Inc. (dba Catalent)	$289M	1	0.81%
24	SimonMed, Inc.	$286M	2	0.81%
25	Valeris, Inc. (fka Phantom Purchaser, Inc.)	$271M	2	0.76%

Borrower quality & credit stress · as disclosed · 03/31/26

7 of 10 disclosed

Non-accrual · cost

0.4%% of amortized cost · ▼ 0.2pt vs 12/31/25 · 03/31/26

Non-accrual · fair value

0.2%% of fair value · 03/31/26

Portfolio companies

361count as the fund reports · 03/31/26

First lien

87.3%senior-secured share · 03/31/26

Floating rate

98.1%floating-coupon share · 03/31/26

PIK income

6.1%% of investment income · 03/31/26

Asset coverage

215.0%BDC §18 asset-coverage · 03/31/26

Portfolio EBITDA $293M · weighted average. Weighted-average borrower metrics are as the manager reported them; first-lien and floating-rate shares are of fair value.

Credit-health ratios

Debt / equity

0.83×total debt / net assets · 03/31/26

Interest coverage

2.10×fund-level EBITDA / interest · 03/31/26

Internal risk-rating distributionBlue Owl 1-5 investment rating (1=best,5=worst) · at fair value · 03/31/26

Grade	% FV	Fair value
1of 5	6.5%	$2.29B
2of 5	87.9%	$31.2B
3of 5	5.4%	$1.91B
4of 5	0.2%	$79.6M
5of 5	0.0%	$1.35M

Grade 1 is the manager’s best internal rating; a rising share in the worst grades is the early-stress signal. 5 grades disclosed.

PIK income split, the non-accrual time-series and the credit-health watch are also charted in The Book · Credit.

Filed tranche book (credit positions pilot)864 tranches · 428 borrowers · 03/31/26

Derived from filed holdings with entity-spine mapping where available (864 of 864 tranches linked). Fair value $35.5B vs holdings $35.5B at the same as-of.

Mark stress · net unrealized on filed marks

Net unrealized

−$504M

Net unrealized · % of cost

−1.4%

Positions below cost

367 / 526

Fair value below cost

57.9%

Fair value $35.5B against amortized cost $36.0B across 526 marked positions — the discount carried in NAV (▼ 1.2pt vs 12/31/25). Below-cost positions hold $20.6B of fair value. Aggregated by AltHarbor from the filed schedule of investments, not a single disclosed line.

PIK book · paid-in-kind balance

PIK at fair value

$3.31B

PIK · % of net assets

17.3%

PIK positions

$3.31B of fair value sits in positions accruing payment-in-kind interest — 17.3% of net assets (▲ 4.4pt vs 12/31/25). This is the non-cash-paying balance on the book, not the PIK share of income; the income split is charted in The Book · Credit.

Instrument mix · filed line-item code

Known instrument FV

$35.4B

Known instrument · % NAV

184.8%

Coded positions

861 / 864

Instrument type

Yield, return & earnings quality · as disclosed · 03/31/26

4 of 5 disclosed

WA yield · to cost

8.9%weighted-avg, amortized cost · ▼ 0.2pt vs 12/31/25 · 03/31/26

WA yield · to fair value

9.1%weighted-avg, fair value · 03/31/26

Total return · Class I

7.9%NAV total return · annual · 12/31/25

Net expense ratio

8.4%Class I · net of waivers · 12/31/25

Per-share financial highlights3 classes · annual to 12/31/25 · 3 periods on file

Per share	D	I	S
NAV · begin	$9.55	$9.57	$9.54
Net investment income	$0.84	$0.87	$0.80
Net realized gain/loss	—	—	—
Net unrealized gain/loss	−$0.13	−$0.15	−$0.15
Distributions	−$0.93	−$0.95	−$0.87
NAV · end	$9.33	$9.34	$9.32
Total return	7.7%	7.9%	7.1%
Expense ratio · net	8.7%	8.4%	9.3%
Expense ratio · gross	8.7%	8.4%	9.3%
NII ratio	9.3%	9.6%	8.7%
Portfolio turnover	35.3%	35.3%	35.3%

Weighted-average yield · time series11 periods · to cost / to fair value

As of	Yield to cost	Yield to fair value	Distribution yield
03/31/26	8.9%	9.1%	—
12/31/25	9.1%	9.1%	—
06/30/25	9.7%	9.8%	—
03/31/25	9.8%	9.9%	—
12/31/24	10.0%	10.0%	—
09/30/24	10.7%	10.7%	—
06/30/24	11.2%	11.2%	—
03/31/24	11.5%	11.4%	—
12/31/23	11.6%	11.6%	—
09/30/23	11.8%	11.8%	—
06/30/23	11.6%	11.6%	—

Earnings quality · cash NII ex-PIKincome statement · quarter to 03/31/26

Total investment income	—
— of which PIK (non-cash)	$15.4M
Net investment income	—
Cash NII (NII − PIK)	—
Interest / debt expense	−$257M
Incentive fee · income	—
Fee waiver / expense support	—

Where it sits

min–median–max · this fund = dot

L3 + NAV-expedient share89.9%% of fair value · 03/31/26private credit peers n=10 · 31.4%–80.4%–95.0%this fund 89.9% against private credit peers (n=10): minimum 31.4%, median 80.4%, maximum 95.0%

Fair value marks · as of 03/31/26

89.9%% of fair value · 03/31/26

$31.9B · 89.9%L3 + NAVexpof investments at fair value · sum of stated

ASC-820 hierarchy · band width = share · hover to read

L1 $0 0.0% · L2 $3.57B 10.1% · L3 $30.6B 86.2% · NAVexp $1.34B 3.8%

Cost basis$36.0B

Fair value$35.5B

Net unrealized−$524M03/31/26

L3 + NAVexp share, 22 periods

Known instrument codes total $35.4B (184.8% of net assets) (▲ 16.3pt vs 12/31/25). This is the filed line-item instrument split, not the same cut as the First lien headline; First lien is a seniority metric, while this table shows whether each position is coded as loan, equity, or uncoded.

Borrower	Tranches	Fair value	% NAV
KABAFUSION Parent, LLC	1	—	—
ACR Group Borrower, LLC	1	—	—
Ideal Image Development, LLC	1	—	—
EresearchTechnology, Inc. (dba Clario)	2	—	—
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)	1	—	—
OneOncology, LLC	2	—	—

Level 3 plus NAV-expedient share of investments by period: 2020-12-31 100.00, 2021-03-31 75.99, 2021-06-30 82.38, 2021-09-30 90.17, 2021-12-31 93.25, 2022-03-31 84.82, 2022-06-30 86.34, 2022-09-30 87.39, 2022-12-31 90.95, 2023-03-31 87.61, 2023-06-30 88.06, 2023-09-30 86.98, 2023-12-31 84.68, 2024-03-31 80.17, 2024-06-30 78.07, 2024-09-30 79.02, 2024-12-31 82.44, 2025-03-31 82.03, 2025-06-30 82.30, 2025-09-30 85.14, 2025-12-31 87.56, 2026-03-31 89.93

Private Credit peers n=11 · 31.4%–80.5%–95.0%this fund 89.9% against Private Credit peers (n=11): minimum 31.4%, median 80.5%, maximum 95.0%

Unobservable-input ranges: not disclosed in latest annual filing

Level 3 roll-forward · 03/31/26

Category	Ending	Activity	Coverage
Level 3 Investments	$30.6B	Ending balance only	Ending Balance Only

NAV practical expedient · 1 observation · $35.5B fair value · 03/31/26

Fee anatomy · as disclosed

2 of 3 disclosed

Management fee

1.3%annual · on equity

Incentive fee

12.5%Hard hurdle with catch-up hurdle · 5.0% hurdle

Per-class load3 classes · servicing · distribution · total ex-incentive

Class	Channel	Servicing	Distribution	Total ex-incentive
Class D	Fee-based intermediary / RIA	0.3%	—	1.5%
Class I	Institutional / direct	0.0%	—	1.3%
Class S	Retail broker-dealer / wirehouse	0.8%	—	2.1%

The two-part incentive-fee mechanics (lookback / per-class expense caps & recapture) are not yet surfaced — they need a dedicated terms table still in the schema queue.

Unfunded commitments · as disclosed · 03/31/26

2 of 4 disclosed

Total unfunded

$5.43Bgross forward-funding obligation · 03/31/26

Borrowers

319names with an unfunded balance · 03/31/26

321 portfolio borrowers · ties to the filing's disclosed aggregate within 0.00%.

Top 25 by unfunded balanceof 319 with an unfunded balance · 03/31/26

#	Borrower	Type	Unfunded	At discretion
1	LSI Financing LLC	Revolver / DDTL	$190M	—
2	OWL-HP FINANCE LLC	Revolver / DDTL	$171M	—
3	NSCALE SERVICES UK LTD	Delayed-draw	$153M	—
4	MAJCO LLC (dba Big Brand Tire & Service)	Delayed-draw	$130M	—
5	Unit4 Group Holding B.V.	Revolver / DDTL	$128M	—
6	Aerosmith Bidco 1 Limited (dba Audiotonix)	Delayed-draw	$108M	—
7	Packaging Coordinators Midco, Inc.	Delayed-draw	$83.1M	—
8	DuraServ LLC	Delayed-draw	$82.9M	—
9	Jawbreaker Parent, Inc.	Delayed-draw	$71.3M	—
10	Spotless Brands, LLC	Delayed-draw	$66.5M	—
11	MAJCO LLC (dba Big Brand Tire & Service)	Revolver	$59.0M	—
12	Pike Corp.	Delayed-draw	$53.4M	—
13	Vital Bidco AB (dba Vitamin Well)	Revolver	$52.9M	—
14	Packaging Coordinators Midco, Inc.	Revolver	$51.3M	—
15	CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	Revolver	$50.2M	—
16	Horizon Avionics Buyer, LLC (dba Acron Aviation)	Delayed-draw	$49.9M	—
17	Arctic US Bidco, Inc. (dba ThermoSafe)	Delayed-draw	$49.2M	—
18	Galway Borrower LLC	Delayed-draw	$49.1M	—
19	Nova Women's Health, Inc.	Delayed-draw	$48.3M	—
20	W.A. Kendall and Company, LLC	Delayed-draw	$47.8M	—
21	Jellyfish US Finco, Inc. (dba JTC)	Revolver / DDTL	$47.2M	—
22	WU Holdco, Inc. (dba PurposeBuilt Brands)	Delayed-draw	$46.1M	—
23	CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	Delayed-draw	$45.0M	—
24	Aerosmith Bidco 1 Limited (dba Audiotonix)	Revolver	$44.9M	—
25	KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)	Revolver	$43.4M	—

Mark vs cost · from the schedule of investments · 03/31/26

526 of 864 disclosed

Fair value

$35.5B526 priced positions

Amortized cost

$36.0Baggregate cost basis

Net unrealized

−$504M-1.40% of cost · derived

Positions in gain

139 / 36740.5% of FV in gain

Floating coupon

97.9%of FV w/ stated basis

Marked to model

100.0%Level III share of FV

Position-level marks rolled up from the filed schedule of investments: 526 of 864 positions carry an amortized cost, so the net unrealized mark is over that priced subset. Flagged: 60 PIK.Per-borrower cost, mark and unrealized P&L are in The Names; the manager-stated borrower-quality metrics are above.

The named book · 421 filed names

full register →per filed schedule / annual report · as of 03/31/26

largest first · pick a sector in The Book to filter

per-company % as filed — the percent basis varies by filer; fair value is the comparable figure

LoanLON	775	$32.8B	171.2%
EquityEC	86	$2.60B	13.6%
Uncoded / unknownunknown	3	$153M	0.8%