Free Writing Prospectus (Form FWP)

Issuer:

Guarantors:

Ticker:

Security:

Expected Ratings (S&P/Fitch)*:

Trade Date:

Settlement Date**:

Aggregate Principal Amount Offered:

Maturity Date:

Benchmark Treasury:

Benchmark Treasury Price and Yield:

Spread to Benchmark Treasury:

Yield to Maturity:

Price to Public (Issue Price):

Coupon (Interest Rate):

Interest Payment Dates:

Optional Redemption:

Prior to May 18, 2036 (the date that is three months prior to the maturity date of the notes), the notes will be redeemable in whole or in part, at the Issuer's option at any time and from time to time, at a redemption price equal to the greater of (i) 100% of the principal amount of any notes being redeemed and (ii) the sum, as determined by the Issuer, of the present values of the remaining scheduled payments of principal and interest thereon, discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 35 basis points, plus, in each case, accrued and unpaid interest, if any, to, but excluding, the date of redemption.

On or after May 18, 2036, at 100% of the principal amount redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption.

Offer to Purchase upon a Change of Control Repurchase Event:

Use of Proceeds:

Denominations:

Trustee:

CUSIP/ISIN:

Joint Book-Running Managers:

BofA Securities, Inc.

Goldman Sachs & Co. LLC

Morgan Stanley & Co. LLC

Joint Bookrunners

BMO Capital Markets Corp.

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

ING Financial Markets LLC

J.P. Morgan Securities LLC

M&T Securities, Inc.

Mizuho Securities USA LLC

MUFG Securities Americas Inc.

Natixis Securities Americas LLC

RBC Capital Markets, LLC

Scotia Capital (USA) Inc.

SMBC Nikko Securities America, Inc.

SG Americas Securities, LLC

TD Securities (USA) LLC

Truist Securities, Inc.

US Bancorp

Wells Fargo Securities, LLC

Co-Managers:

Cabrera Capital Markets LLC

Citizens JMP Securities, LLC

Keefe, Bruyette & Woods, Inc.

Oppenheimer & Co. Inc.

Piper Sandler & Co.

R.Seelaus & Co., LLC

UBS Securities LLC

WR Securities, LLC

Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

Blue Owl Finance LLC expects that delivery of the Notes will be made to investors on or about August 18, 2026, which will be the fifth business day following the date hereof. Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to one business day before the date of delivery will be required, by virtue of the fact that the Notes initially will settle T+5, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to one business day before the date of delivery should consult their own advisor.