TERMS AND CONDITIONS OF USE

Access to the Blue Owl website available at www.blueowl.com (this "Site") is provided by Blue Owl Capital Inc. ("BO") and its affiliates (collectively, "Blue Owl","Owl Rock" or "we", "our" or "us").

You should carefully read the following terms and conditions (the "Terms"). These Terms govern your use of this Site, including the content, materials and information made available on or through this Site. By using this Site, you acknowledge that you have read, understood and agree to these Terms. If you do not agree to abide by these Terms, do not use this Site.

I. CONTENT

This Site contains material, including, but not limited to, text, graphics, video, audiovisual works, logos, photographs, icons, images, audio clips, and software (collectively referred to herein as the "Content"). We may own the Content or portions of the Content may be made available to us through arrangements that we have with third parties. The Content is protected by United States and, as applicable, foreign intellectual property laws. Unauthorized use of the Content may result in a violation of copyright, trademark, and other laws. You have no rights in or to the Content, and you agree that you will not use, copy, circulate, distribute or display the Content except as permitted under these Terms. You may use Content from the Site solely for your personal use. No other use is permitted without our express prior written consent. For example, the Content and Site may not be distributed, republished, uploaded, posted, or transmitted in any way, without our prior written consent. You must retain all copyright and other proprietary notices contained in the original Content on any copy you make of the Content. You are not permitted to sell, transfer, assign, license, sublicense, or modify the Content or reproduce, display, publicly perform, make a derivative version of, distribute or otherwise use the Content in any way for any public or commercial purpose. You may not link to this Site or portions of its Content without our express prior written consent. The use or posting of any of the Content on any other website or in a networked computer environment for any purpose is expressly prohibited. If you violate any part of these Terms, your right to access and/or use the Content and Site will automatically terminate and you will immediately destroy any copies you have made of the Content.

These Terms are not intended to, and do not, transfer or grant any rights in or to the Content other than those described herein, and all rights not expressly granted herein are reserved by Blue Owl. You are required to read and abide by any additional terms and conditions that may be posted on this Site from time to time.

The trademarks, service marks, and logos of Blue Owl (the "Blue Owl Trademarks") used and displayed on this Site are registered and unregistered trademarks or service marks of Blue Owl. Other product and service names located on the Site may be trademarks or service marks owned by third-parties (the "Third-Party Trademarks", and, collectively with the Blue Owl Trademarks, the "Trademarks"). Nothing on this Site or in these Terms should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any Trademark displayed on this Site without the express prior written consent of Blue Owl specific for each such use. The Trademarks may not be used to disparage Blue Owl or the applicable third-party or in any manner (using commercially reasonable judgment) that may damage any goodwill in the Trademarks. Use of any Trademarks as part of a link to or from any website is prohibited without our express prior written consent. All goodwill generated from the use of any Blue Owl Trademark will inure to our benefit.

II. PRIVACY, CONFIDENTIAL INFORMATION AND MONITORING BY Blue Owl

We reserve the right to track visitors to, and monitor usage of, this Site through "cookies" and similar techniques and to use any resulting information as we determine in our sole discretion. We do not accept responsibility for protecting against misuse or disclosure of any confidential or proprietary information or other materials in the absence of our express written agreement to do so. Please consider this carefully before sending us any information that you deem confidential or proprietary.

III. PASSWORD SECURITY AND NOTIFICATION

Access to and use of password-protected and secure areas of this Site is restricted to authorized users only. If you have a user ID and password for access to non-public areas of the Site, you are solely responsible for all activities that occur in connection with your user ID and password. You should take measures to protect the confidentiality of your user ID and password. You should never share them with anyone, and you should change your password periodically. Please notify Blue Owl immediately of any unauthorized use of your user ID, password, Site access account, investment information or any other breach of security.

IV. RESTRICTIONS ON USE; NO LICENSE

By using this Site, you agree not to: (1) take any action that imposes an unreasonable load on the Site's infrastructure; (2) use any device, software or routine to interfere or attempt to interfere with the proper working or operation of the Site or any activity being conducted on the Site; (3) attempt to decipher, decompile, disassemble or reverse engineer any of the software comprising or making up the Site; (4) delete or alter any information or material posted or published on, or made available through, the Site by Blue Owl or any other person or entity; or (5) frame or link to any of the information or materials available on the Site.

We reserve all rights with respect to the design, look and feel and Content of this Site, such as text, images, photographs, audio and code used to generate the pages of this Site. In particular, you must not misappropriate the design or content of this Site and you must not alter or deface such design or content in any way. Use of the Site does not grant you a license to any content, features or materials you may access on this Site.

V. THIRD-PARTY SITES AND INFORMATION

As a convenience to you, this Site may contain links to websites operated by third parties ("Linked Third-Party Sites"). When you select certain hyperlinks, you will be leaving this Site. We do not review, control or examine the content of Linked Third-Party Sites and we are not responsible for any Linked Third-Party Site's content, availability, advertising, products, information, materials or use of your information. We do not endorse the content of any Linked Third-Party Site, and we have not participated in the development of, or approved, the content of any Linked Third-Party Site.

You should review the terms and conditions of use applicable to a Linked Third-Party Site. The fact that we have provided links on this Site to Linked Third-Party Sites does not constitute an endorsement, authorization, sponsorship, or association with respect to such websites, the contents of the websites, or the owners and/or operators of the websites. Any access to, or use of, a Linked Third-Party Site is solely at your own risk.

You should be aware that certain Content on this Site may include or consist of information that has been provided by third parties and has not been validated or verified by us. In connection with our activities, we often become subject to a variety of confidentiality obligations to third parties. Any statements we make may be affected by those confidentiality obligations, with the result that we may be prohibited from making full disclosures. Without limitation on the effect of other warnings and disclaimers set forth in these Terms, you should interpret any statements we make (on this Site or otherwise) in that context.

VI. NO OFFER, SOLICITATION OR ADVICE; SUITABILITY

The Content has been prepared for informational purposes only without regard to any particular user's investment objectives, financial situation, or means, and Blue Owl, is not soliciting any action based upon it.

Nothing on this Site is intended to constitute or forms a part of, or shall be construed as, (i) a recommendation, (ii) an offer, or solicitation of an offer, to purchase or sell any security or financial product or service in any jurisdiction, (iii) investment advice or an offer to provide such advice, or (iv) a basis for making any investment decision. Except as expressly stated by Blue Owl in writing, this Site does not make any effort to present a comprehensive or balanced description of Blue Owlor its activities.

Certain transactions give rise to substantial risk and are not suitable for all investors. Although the Content of this Site is based upon information that Blue Owl considers reliable and endeavors to keep current, Blue Owl does not represent that the Content is accurate, current, or complete, and it should not be relied upon as such.

The fact that Blue Owl has made this Site's Content available to you constitutes neither a recommendation that you enter into a particular transaction nor a representation that any product or service described on this Site is suitable or appropriate for you. Products described on this Site involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you. Any discussion herein of the risks with respect to any product or service should not be considered to be a disclosure of all risks or complete discussion of such risks. You should neither construe any of the Content as business, financial, investment, legal, regulatory, tax, or accounting advice nor make the Content the primary basis for any investment decisions made by or on behalf of you, and you may want to consult your business advisor, attorney, and/or tax and accounting advisors concerning any contemplated transactions.

VII. SECURITIES PRODUCTS AND SERVICES

Blue Owl Capital Inc. is the parent company of Blue Owl Securities LLC ("BOS"), a member of FINRA and SIPC, and Owl Rock Capital Advisors LLC, a registered investment advisor.

Blue Owl offers securities products and services through BOS. You can check the background of BOS on FINRA's BrokerCheck. In addition, you can check the background of an investment professional associated with BOS on FINRA's BrokerCheck.

VIII. LIMITATION OF LIABILITY

ALL CONTENT IS PROVIDED "AS IS" AT YOUR SOLE RISK, MAY NOT BE RELIED UPON FOR ANY PURPOSE, AND IS NOT SUBJECT TO EXPRESS OR IMPLIED WARRANTIES OF ANY KIND. In particular, we make no representations or warranties with regard to the Content's correctness, quality, accuracy, completeness, reliability, timeliness, continued availability, non-infringement or fitness for a particular purpose. Neither Blue Owl nor any third party shall have any responsibility to maintain the information and materials made available on, or through, this Site or to supply any corrections, updates, or releases relating thereto. Availability of information and materials are subject to change without notice.

Please ensure that your own computer security is comprehensive and up to date. We accept no responsibility for viruses, malware or other malicious or damaging software contained in the Content or otherwise. Blue Owl makes no warranty whatsoever to you, express or implied, regarding the security of the Site, including with respect to the ability of unauthorized persons to intercept or access information transmitted by you through this Site.

Except as expressly agreed to by Blue Owl in writing, neither Blue Owl nor or any of its directors, officers, employees, associated persons, agents, or content or service providers (collectively, the "Blue Owl Parties") will be liable for any direct, indirect, special, incidental, consequential, exemplary or punitive damages arising from, or directly or indirectly related to, your use of, or reliance upon, this Site and its Content. Some jurisdictions may limit our ability to disclaim liability. With regard to those jurisdictions, our liability shall be limited to the greatest extent permitted by applicable law.

X. INDEMNIFICATION

You agree to defend, indemnify, and hold harmless the Blue Owl Parties from and against any claims, actions or demands, including, without limitation, reasonable legal and accounting fees, arising or resulting from your breach of these Terms or your access to, use, or misuse of the Content or Site. Blue Owl will provide notice to you of any such claim, suit, or proceeding. Blue Owl reserves the right to assume the exclusive defense and control of any matter which is subject to indemnification under this provision. In such case, you agree to cooperate with any reasonable requests assisting Blue Owl's defense of such matter.

X. ARBITRATION

THESE TERMS CONTAIN A PREDISPUTE ARBITRATION CLAUSE. BY USING THIS SITE, YOU ACKNOWLEDGE AND AGREE TO THE FOLLOWING:

All parties to these Terms are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited.

The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

The arbitrators do not have to explain the reason(s) for their award.

The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

The rules of the arbitration forum in which the claim is filed, and any agreements thereto, shall be incorporated into these Terms.

Arbitration shall be conducted (i) for claims required to be arbitrated as specified in FINRA rules, that FINRA Dispute Resolution decides to hear, before FINRA Dispute Resolution at the New York FINRA District Office, (ii) in all other cases, in New York, NY in accordance with the arbitration rules then in force by the American Arbitration Association, or (iii) in either case, at another mutually agreed upon site under mutually agreed upon rules. The award of the arbitrator shall be final, and judgment upon the award rendered may be entered in any court, state or federal, having jurisdiction. No person shall bring a putative or certified class action to arbitration, or seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action, until (a) the class certification is denied; or (b) the class is decertified. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under these Terms except to the extent stated herein.

XII. OTHER INFORMATION

This Site is operated and controlled by Blue Owl in the United States. If it is illegal or prohibited in your country of origin to access or use this Site, then you should not do so. Those who choose to access this Site outside the United States access it on their own initiative and risk and are responsible for compliance with all applicable local laws and regulations.

The United States controls the export of products and information. You expressly agree to comply with such restrictions and not to export or re-export any of the Content to countries or persons prohibited under the export control laws. By downloading the Content, you are expressly agreeing that you are not in a country where such export is prohibited or are a person or entity for which such export is prohibited. You are solely responsible for compliance with the laws of your specific jurisdiction regarding the import, export, or re-export of the Content.

These Terms, and any disputes relating to these Terms or your use of this Site, will be governed in all respects by the laws of the State of New York, without regard to conflicts of laws principles. Except as otherwise agreed in writing by Blue Owl, any disputes relating to these Terms shall be resolved exclusively in the state or federal courts located in New York City.

These Terms set forth the entire agreement between you and us with respect to the subject matter hereof and supersede all prior agreements relating to such subject matter. All Blue Owl individuals and entities are intended third-party beneficiaries of these Terms. Our rights under these Terms may be waived by us only in writing. These Terms are binding on you as well as your successors and permitted assigns. In the event any provision of these Terms is determined to be invalid or unenforceable, such provision shall be deemed severed from the remainder of these Terms and replaced with a valid and enforceable provision as similar in intent as reasonably possible to the provision so severed, and shall not cause the invalidity or unenforceability of the remainder of these Terms.

We reserve the right to modify these Terms at any time without notice. If we do this, we will post the changes on this page and will indicate at the bottom of this page the date the Terms were last revised. You may read a current, effective copy of the Terms at any time by selecting the "Terms and Conditions of Use" link on the Site. You should check these Terms periodically for changes. Your continued use of this Site after the posting of changes constitutes your binding acceptance of such changes.

XIII. EFFECTIVE DATE: July 2017