Owl Rock Capital Corporation II Annual Update

March 4, 2020

We are pleased to provide you with the following update on Owl Rock Capital Corporation II (“ORCC II”). On February 25, 2020, ORCC II filed its Form 10-K for the year ended December 31, 2019. We’ve highlighted certain updates based on our Form 10-K below. All data is as of the year ended December 31, 2019.

• Total return of 7.1% for the twelve months ended December 31, 2019, and total annualized return since inception of 8.2%¹ 

• Total investment portfolio at fair value of approximately $1.4 billion

· Investments in 89 portfolio companies

· 92% directly originated

· >99% senior secured, debt investments (83% first lien and 17% second lien)

· 100% of our debt investments were floating rate investments

· 8.4% weighted average total yield of debt and income producing securities at amortized cost

• Continued focus on investing in upper-middle market companies

· Portfolio company weighted average annual revenue of $454 million and EBITDA of $96 million²

• Current annualized distribution rate is 7.0% for Brokerage and 7.4% for Advisory³

Source: Owl Rock Capital Corporation II