Blue Owl Capital Corporation (OBDC) Proxy filing summary

Executive summary

• Annual meeting scheduled for June 25, 2026, to be held virtually, with shareholders able to vote online, by phone, mail, or QR code.

• 2025 performance highlights include a 9.9% return on equity, $1.56 per share in dividends, and a 10.0% annualized dividend yield.

• Portfolio spans 234 companies across 30 industries, with 79% in senior secured loans and a low non-accrual rate of 1.1%.

• Completed merger with Blue Owl Capital Corporation III, increasing scale and diversification; Moody’s upgraded credit rating to Baa2.

• $148 million in shares repurchased in Q4 2025; new $300 million repurchase program launched in February 2026.

Voting matters and shareholder proposals

• Shareholders will vote to elect two directors (Eric Kaye and Victor Woolridge) for three-year terms expiring in 2029.

• Ratification of KPMG LLP as independent registered public accounting firm for fiscal year ending December 31, 2026.

• Board unanimously recommends voting FOR both proposals.

Board of directors and corporate governance

• Board consists of six members divided into three staggered classes, promoting continuity and stability.

• Five of six directors are independent; only Mr. Packer is an interested director.

• All committees (Audit, Compensation, Nominating & Corporate Governance, Co-Investment) are composed of independent directors.

• Board met 18 times in 2025; strong attendance and engagement reported.

• Chairman is an independent director; leadership structure reviewed annually.