UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from___to

Commission File Number: 814-01369

BLUE OWL CREDIT INCOME CORP.

(Exact name of Registrant as specified in its Charter)

Maryland	85-1187564
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
399 Park Avenue, New York, New York	10022
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code: (212) 419-3000

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	None	None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 8, 2025, the registrant had 592,756,104 shares of Class S common stock, 58,184,885 shares of Class D common stock, and 1,136,186,527 shares of Class I common stock, $0.01, par value per share, outstanding.

i

Table of Contents

		Page
PART I.	FINANCIAL INFORMATION
Item 1.	Financial Statements	4
	Consolidated Statements of Assets and Liabilities as of March 31, 2025 (Unaudited) and December 31, 2024	4
	Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024 (Unaudited)	5
	Consolidated Schedules of Investments as of March 31, 2025 (Unaudited) and December 31, 2024	7
	Consolidated Statements of Changes in Net Assets for the Three Months Ended March 31, 2025 and 2024 (Unaudited)	64
	Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024 (Unaudited)	65
	Notes to Consolidated Financial Statements (Unaudited)	66
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	121
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	178
Item 4.	Controls and Procedures	179
PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings	180
Item 1A.	Risk Factors	180
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	180
Item 3.	Defaults Upon Senior Securities	181
Item 4.	Mine Safety Disclosures	181
Item 5.	Other Information	181
Item 6.	Exhibits	182
Signatures

ii

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Blue Owl Credit Income Corp. (the “Company,” “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•an economic downturn could impair our portfolio companies’ ability to continue to operate, which could lead to the loss of some or all of our investments in such portfolio companies;

•an economic downturn could disproportionately impact the companies that we intend to target for investment, potentially causing us to experience a decrease in investment opportunities and diminished demand for capital from these companies;

•the impact of elevated inflation rates, fluctuating interest rates, ongoing supply chain and labor market disruptions, including those as a result of strikes, work stoppages or accidents, instability in the U.S. and international banking systems, uncertainties related to the new Presidential administration, including the impact of tariff enactment and tax reductions, trade disputes with other countries, and the risk of recession or a shutdown of government services could impact our business prospects and the prospects of our portfolio companies;

•an economic downturn could also impact availability and pricing of our financing and our ability to access the debt and equity capital markets;

•a contraction of available credit and/or an inability to access the equity markets could impair our lending and investment activities;

•changes in base interest rates and significant market volatility on our business and our portfolio companies (including our business prospects and the prospects of our portfolio companies including the ability to achieve our and their business objectives), our industry and the global economy including as a result of ongoing supply chain disruptions;

•interest rate volatility could adversely affect our results, particularly because we use leverage as part of our investment strategy;

•currency fluctuations could adversely affect the results of our investments in foreign companies, particularly to the extent that we receive payments denominated in foreign currency rather than U.S. dollars;

•our future operating results;

•our contractual arrangements and relationships with third parties;

•the ability of our portfolio companies to achieve their objectives;

•competition with other entities and our affiliates for investment opportunities;

•risks related to the uncertainty of the value of our portfolio investments, particularly those having no liquid trading market;

•the use of borrowed money to finance a portion of our investments as well as any estimates regarding potential use of leverage;

•the adequacy of our financing sources and working capital;

•the loss of key personnel;

•the timing of cash flows, if any, from the operations of our portfolio companies;

•the ability of Blue Owl Credit Advisors LLC (“the Adviser” or “our Adviser”) to locate suitable investments for us and to monitor and administer our investments;

•the ability of the Adviser to attract and retain highly talented professionals;

•our ability to qualify for and maintain our tax treatment as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”);

•the impact that environmental, social and governance matters could have on our brand and reputation and our portfolio companies;

•the effect of legal, tax and regulatory changes;

•the impact of information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity attacks, and the increasing use of artificial intelligence and machine learning technology;

•the impact of geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing war between Russia and Ukraine, as well as political and social unrest in the Middle East and North Africa regions and general uncertainty surrounding the financial and political stability of the United States, the United Kingdom, the European Union and China, on financial market volatility, global economic markets, and various markets for commodities globally such as oil and natural gas; and

•other risks, uncertainties and other factors previously identified in the reports and other documents we have filed with the Securities and Exchange Commission (“SEC”).

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. These forward-looking statements apply only as of the date of this report. Moreover, we assume no duty and do not undertake to update the forward-looking statements. Because we are an investment company, the forward-looking statements and projections contained in this report are excluded from the safe harbor protection provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).

3

Part I. FINANCIAL INFORMATION

Item 1. Financial Statements

Blue Owl Credit Income Corp.

Consolidated Statements of Assets and Liabilities

(Amounts in thousands, except share and per share amounts)

	March 31, 2025 (Unaudited)		December 31, 2024
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $28,575,155 and $25,422,365, respectively)	$	28,510,177	$	25,384,902
Non-controlled, affiliated investments (amortized cost of $8,348 and $8,305, respectively)	8,210		8,248
Controlled, affiliated investments (amortized cost of $915,549 and $952,995, respectively)	942,022		985,744
Total investments at fair value (amortized cost of $29,499,052 and $26,383,665, respectively)	29,460,409		26,378,894
Cash (restricted cash of $89,903 and $182,030, respectively)	533,686		1,003,117
Foreign cash (cost of $2,173 and $3,554, respectively)	2,125		3,366
Interest receivable	208,795		180,178
Receivable from controlled affiliates	9,800		16,299
Receivable for investments sold	104,451		473,053
Prepaid expenses and other assets	63,869		8,974
Total Assets	$	30,383,135	$	28,063,881
Liabilities
Debt (net of unamortized debt issuance costs of $173,758 and $178,732, respectively)	$	12,615,717	$	12,681,822
Distribution payable	172,412		152,477
Payable for investments purchased	896,055		129,625
Payables to affiliates	74,409		73,430
Tender offer payable	203,955		193,203
Accrued expenses and other liabilities	150,995		311,722
Total Liabilities	14,113,543		13,542,279
Commitments and contingencies (Note 7)
Net Assets
Class S Common shares $0.01 par value, 1,500,000,000 shares authorized; 570,264,051 and 515,664,737 shares issued and outstanding, respectively	5,703		5,157
Class D Common shares $0.01 par value, 1,000,000,000 shares authorized; 57,227,131 and 51,059,824 shares issued and outstanding, respectively	572		511
Class I Common shares $0.01 par value, 2,000,000,000 shares authorized; 1,089,239,943 and 952,454,240 shares issued and outstanding, respectively	10,892		9,525
Additional paid-in-capital	16,077,001		14,191,257
Accumulated undistributed (overdistributed) earnings	175,424		315,152
Total Net Assets	16,269,592		14,521,602
Total Liabilities and Net Assets	$	30,383,135	$	28,063,881
Net Asset Value Per Class S Share	$	9.46	$	9.54
Net Asset Value Per Class D Share	$	9.47	$	9.55
Net Asset Value Per Class I Share	$	9.49	$	9.57

The accompanying notes are an integral part of these consolidated financial statements.

4

Blue Owl Credit Income Corp.

Consolidated Statements of Operations

(Amounts in thousands, except share and per share amounts)

(Unaudited)

	For the Three Months Ended March 31,
	2025		2024
Investment Income
Investment income from non-controlled, non-affiliated investments:
Interest income	$	628,032	$	460,535
Payment-in-kind (“PIK”) interest income	28,720		26,458
Dividend income	1,609		2,104
Payment-in-kind (“PIK”) dividend income	13,344		17,251
Other income	7,829		5,451
Total investment income from non-controlled, non-affiliated investments	679,534		511,799
Investment income from non-controlled, affiliated investments:
Interest income	22		—
Payment-in-kind (“PIK”) interest income	42		—
Dividend income	—		145
Total investment income from non-controlled, affiliated investments	64		145
Investment income from controlled, affiliated investments:
Interest income	2,765		1,517
Payment-in-kind (“PIK”) interest income	—		1,104
Dividend income	24,887		13,592
Total investment income from controlled, affiliated investments	27,652		16,213
Total Investment Income	707,250		528,157
Operating Expenses
Offering costs	1,962		1,251
Interest expense	216,560		169,416
Management fees, net(1)	46,397		28,519
Performance based incentive fees	52,675		38,910
Professional fees	5,596		5,616
Directors’ fees	320		326
Shareholder servicing fees	11,408		7,412
Other general and administrative	3,386		1,782
Total Operating Expenses	338,304		253,232
Net Investment Income (Loss) Before Taxes	368,946		274,925
Income tax expense (benefit), including excise tax expense (benefit)	220		799
Net Investment Income (Loss) After Taxes	$	368,726	$	274,126

5

Blue Owl Credit Income Corp.

Consolidated Statements of Operations - Continued

(Amounts in thousands, except share and per share amounts)

(Unaudited)

	For the Three Months Ended March 31,
	2025		2024
Net Realized and Change in Unrealized Gain (Loss)
Net change in unrealized gain (loss):
Non-controlled, non-affiliated investments	$	(54,453)	$	(4,071)
Non-controlled, affiliated investments	(82)		1,343
Controlled, affiliated investments	(6,275)		4,626
Translation of assets and liabilities in foreign currencies	7,528		(291)
Income tax (provision) benefit	169		8
Total Net Change in Unrealized Gain (Loss)	(53,113)		1,615
Net realized gain (loss):
Non-controlled, non-affiliated investments	(57,865)		(3,447)
Foreign currency transactions	(6,015)		76
Total Net Realized Gain (Loss)	(63,880)		(3,371)
Total Net Realized and Change in Unrealized Gain (Loss)	(116,993)		(1,756)
Total Net Increase (Decrease) in Net Assets Resulting from Operations	$	251,733	$	272,370
Net Increase (Decrease) in Net Assets Resulting from Operations - Class S Common Stock	$	77,401	$	89,650
Net Increase (Decrease) in Net Assets Resulting from Operations - Class D Common Stock	$	8,336	$	11,407
Net Increase (Decrease) in Net Assets Resulting from Operations - Class I Common Stock	$	165,996	$	171,312
Earnings Per Share - Basic and Diluted of Class S Common Stock	$	0.14	$	0.25
Weighted Average Shares of Class S Common Stock Outstanding - Basic and Diluted	553,435,797		356,127,221
Earnings Per Share - Basic and Diluted of Class D Common Stock	$	0.15	$	0.27
Weighted Average Shares of Class D Common Stock Outstanding - Basic and Diluted	54,656,440		42,899,375
Earnings Per Share - Basic and Diluted of Class I Common Stock	$	0.16	$	0.27
Weighted Average Shares of Class I Common Stock Outstanding - Basic and Diluted	1,043,162,192		630,203,053

(1)Refer to Note 3 “Agreements and Related Party Transactions” for additional details on management fee waiver.

The accompanying notes are an integral part of these consolidated financial statements.

6

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units		Amortized Cost(4)(24)		Fair Value		% of Net Assets
		Ref. Rate	Cash	PIK
Non-controlled/non-affiliated portfolio company investments
Debt Investments(5)
Advertising and media
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(7)	First lien senior secured loan	S+	5.00%		12/2028	228,932		$	228,932	$	228,932
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(6)(18)	First lien senior secured revolving loan	S+	5.00%		12/2027	1,598		1,598		1,598
Monotype Imaging Holdings Inc.(6)(18)	First lien senior secured loan	S+	5.50%		2/2031	170,317		169,141		170,317
Project Boost Purchaser, LLC (dba J.D. Power)(7)(21)	First lien senior secured loan	S+	3.00%		7/2031	43,641		43,616		43,361
Project Boost Purchaser, LLC (dba J.D. Power)(7)(21)	Second lien senior secured loan	S+	5.25%		7/2032	11,250		11,197		11,237
								454,484		455,445		2.8	%
Aerospace and defense
ManTech International Corporation(7)	First lien senior secured loan	S+	5.00%		9/2029	14,637		14,637		14,637
Novaria Holdings, LLC(6)	First lien senior secured loan	S+	3.50%		6/2031	16,915		16,915		16,831
Peraton Corp.(6)(21)	First lien senior secured loan	S+	3.75%		2/2028	51,136		51,165		45,424
Peraton Corp.(7)(21)	Second lien senior secured loan	S+	7.75%		2/2029	4,831		4,791		3,597
STS PARENT, LLC (dba STS Aviation Group)(7)	First lien senior secured loan	S+	5.00%		10/2031	135,180		134,547		134,504
STS PARENT, LLC (dba STS Aviation Group)(7)(18)	First lien senior secured revolving loan	S+	5.00%		10/2030	8,824		8,749		8,749
								230,804		223,742		1.4	%
Asset based lending and fund finance
Hg Genesis 9 SumoCo Limited(12)(22)	Unsecured facility	E+		6.25%	3/2029	€	146,552	154,728		158,306
Hg Saturn Luchaco Limited(15)(22)	Unsecured facility	SA+		7.50%	3/2026	£	679	863		876
								155,591		159,182		1.0	%
Automotive aftermarket
OAC Holdings I Corp. (dba Omega Holdings)(7)	First lien senior secured loan	S+	5.00%		3/2029	8,384		8,275		8,321
OAC Holdings I Corp. (dba Omega Holdings)(7)(18)	First lien senior secured revolving loan	S+	5.00%		3/2028	919		893		899
Power Stop, LLC(6)(21)	First lien senior secured loan	S+	4.75%		1/2029	29,094		28,914		26,822
								38,082		36,042		0.2	%
Automotive services
Mavis Tire Express Services Topco Corp.(7)(21)	First lien senior secured loan	S+	3.00%		5/2028	29,044		29,044		28,829
Spotless Brands, LLC(8)	First lien senior secured loan	S+	5.75%		7/2028	81,489		80,832		81,489
Wand Newco 3, Inc. (dba Caliber )(6)(21)	First lien senior secured loan	S+	2.50%		1/2031	21,931		21,765		21,580
								131,641		131,898		0.8	%
Buildings and real estate
Associations Finance, Inc.(17)	Unsecured notes	N/A		14.25%	5/2030	170,400		169,348		170,400
Associations, Inc.(7)(18)	First lien senior secured loan	S+	6.50%		7/2028	433,448		433,047		433,448
CoreLogic Inc.(6)(20)(21)	First lien senior secured loan	S+	3.50%		6/2028	23,778		23,355		23,279
Dodge Construction Network LLC(7)	First lien senior secured loan	S+	4.75%		2/2029	10,458		8,505		8,367
Dodge Construction Network LLC(7)	First lien senior secured loan	S+	6.25%		1/2029	7,542		7,402		7,391
RealPage, Inc.(7)(21)	First lien senior secured loan	S+	3.00%		4/2028	38,815		38,663		38,256
RealPage, Inc.(7)(21)	First lien senior secured loan	S+	3.75%		4/2028	18,250		18,159		18,230
Wrench Group LLC(7)(21)	First lien senior secured loan	S+	4.00%		10/2028	27,078		27,043		25,656
								725,522		725,027		4.5	%
Business services
Access CIG, LLC(7)(21)	First lien senior secured loan	S+	4.25%		8/2028	78,815		78,815		78,736
Aurelia Netherlands B.V.(12)(22)	First lien senior secured EUR term loan	E+	5.50%		5/2031	€	55,027	57,732		59,440

7

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Boxer Parent Company Inc. (f/k/a BMC)(7)(21)	First lien senior secured loan	S+	3.00%		7/2031	68,250	68,213	66,981
Capstone Acquisition Holdings, Inc.(6)	First lien senior secured loan	S+	4.50%		11/2029	85,142	84,581	84,716
ConnectWise, LLC(7)(21)	First lien senior secured loan	S+	3.50%		9/2028	44,282	44,360	44,198
CoolSys, Inc.(8)(21)	First lien senior secured loan	S+	4.75%		8/2028	13,701	12,987	12,331
CoreTrust Purchasing Group LLC(6)	First lien senior secured loan	S+	5.25%		10/2029	112,333	111,433	112,333
Denali BuyerCo, LLC (dba Summit Companies)(7)(18)	First lien senior secured loan	S+	5.25%		9/2028	210,406	208,222	209,880
Diamondback Acquisition, Inc. (dba Sphera)(6)	First lien senior secured loan	S+	5.50%		9/2028	46,269	45,743	46,153
Fullsteam Operations, LLC(7)	First lien senior secured loan	S+	8.25%		11/2029	13,001	12,672	13,001
Fullsteam Operations, LLC(7)(18)	First lien senior secured delayed draw term loan	S+	7.00%		11/2029	3,514	3,450	3,505
Hercules Borrower, LLC (dba The Vincit Group)(7)	First lien senior secured loan	S+	5.50%		12/2026	15,738	15,678	15,738
Hercules Buyer, LLC (dba The Vincit Group)(17)(27)	Unsecured notes	N/A		0.48%	12/2029	24	24	28
Kaseya Inc.(6)	First lien senior secured loan	S+	3.25%		3/2032	80,000	79,602	79,600
Kaseya Inc.(6)	Second lien senior secured loan	S+	5.00%		3/2033	20,000	19,900	19,900
KPSKY Acquisition, Inc. (dba BluSky)(7)	First lien senior secured loan	S+	5.50%		10/2028	100,922	99,776	93,857
KPSKY Acquisition, Inc. (dba BluSky)(7)(18)	First lien senior secured delayed draw term loan	S+	5.75%		10/2028	72	28	(265)
DuraServ LLC(6)(18)	First lien senior secured loan	S+	4.50%		6/2031	181,499	180,321	180,593
Ping Identity Holding Corp.(7)	First lien senior secured loan	S+	4.75%		10/2029	65,644	65,536	65,644
Plano HoldCo, Inc. (dba Perficient)(7)	First lien senior secured loan	S+	3.50%		10/2031	25,000	24,884	24,875
Plusgrade Inc.(7)(22)	First lien senior secured loan	S+	3.50%		3/2031	24,357	24,357	24,296
Tecta America Corp.(6)(21)	First lien senior secured loan	S+	3.00%		2/2032	37,333	37,242	37,016
Pye-Barker Fire & Safety, LLC(7)(18)	First lien senior secured loan	S+	4.50%		5/2031	239,017	237,759	238,420
Pye-Barker Fire & Safety, LLC(7)(18)	First lien senior secured revolving loan	S+	4.50%		5/2030	4,213	4,068	4,128
XPLOR T1, LLC(7)	First lien senior secured loan	S+	3.50%		6/2031	49,750	49,750	49,750
CMG HoldCo, LLC (dba Crete United)(8)(18)	First lien senior secured loan	S+	4.75%		5/2028	54,508	53,816	54,147
							1,620,949	1,619,001	10.0	%
Chemicals
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(6)(21)	First lien senior secured loan	S+	4.00%		11/2027	19,015	18,817	18,444
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(6)	Second lien senior secured loan	S+	7.75%		11/2028	40,137	40,129	37,729
DCG ACQUISITION CORP. (dba DuBois Chemical)(7)	First lien senior secured loan	S+	4.50%		6/2031	95,076	94,206	94,600
Gaylord Chemical Company, L.L.C.(7)(18)	First lien senior secured loan	S+	5.50%		12/2027	188,629	187,602	188,629
Rocket BidCo, Inc. (dba Recochem)(7)(22)	First lien senior secured loan	S+	5.75%		11/2030	351,494	345,106	351,494
Velocity HoldCo III Inc. (dba VelocityEHS)(7)	First lien senior secured loan	S+	5.50%		4/2027	2,270	2,249	2,270
Nouryon Finance B.V.(7)(21)(22)	First lien senior secured loan	S+	3.25%		4/2028	12,454	12,454	12,408
Derby Buyer LLC (dba Delrin)(6)(21)	First lien senior secured loan	S+	3.00%		11/2030	57,403	57,403	56,915
							757,966	762,489	4.7	%
Consumer products
BEP Intermediate Holdco, LLC (dba Buyers Edge Platform)(6)	First lien senior secured loan	S+	3.25%		4/2031	31,753	31,753	31,753
Conair Holdings LLC(6)(21)	First lien senior secured loan	S+	3.75%		5/2028	44,801	44,493	38,511
Conair Holdings LLC(6)	Second lien senior secured loan	S+	7.50%		5/2029	22,591	22,366	19,880
Foundation Consumer Brands, LLC(7)	First lien senior secured loan	S+	5.00%		2/2029	126,182	124,960	125,551
Lignetics Investment Corp.(7)	First lien senior secured loan	S+	5.50%		11/2027	95,976	95,768	95,496
Lignetics Investment Corp.(7)(18)	First lien senior secured revolving loan	S+	5.50%		10/2026	7,647	7,625	7,590

8

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Olaplex, Inc.(6)(21)(22)	First lien senior secured loan	S+	3.50%		2/2029	37,756	37,353	33,414
SWK BUYER, Inc. (dba Stonewall Kitchen)(7)	First lien senior secured loan	S+	5.25%		3/2029	58,324	57,591	57,304
							421,909	409,499	2.5	%
Containers and packaging
Anchor Packaging, LLC(6)(21)	First lien senior secured loan	S+	3.25%		7/2029	49,625	49,625	49,551
Arctic Holdco, LLC (dba Novvia Group)(7)(18)	First lien senior secured loan	S+	5.25%		1/2032	160,933	160,201	160,085
Arctic Holdco, LLC (dba Novvia Group)(7)(18)	First lien senior secured revolving loan	S+	5.25%		1/2031	5,681	5,624	5,622
Ascend Buyer, LLC (dba PPC Flexible Packaging)(7)	First lien senior secured loan	S+	5.75%		9/2028	82,409	81,710	82,409
Ascend Buyer, LLC (dba PPC Flexible Packaging)(7)	First lien senior secured loan	S+	6.00%		9/2028	8,798	8,677	8,798
Berlin Packaging(6)(21)	First lien senior secured loan	S+	3.50%		6/2031	94,650	94,650	94,252
Clydesdale Acquisition Holdings, Inc. (dba Novolex)(6)(18)	First lien senior secured loan	S+	3.25%		3/2032	132,766	131,753	131,771
Charter NEX US, Inc.(6)(21)	First lien senior secured loan	S+	3.00%		11/2030	25,626	25,626	25,578
Fortis Solutions Group, LLC(7)	First lien senior secured loan	S+	5.50%		10/2028	66,107	65,326	64,951
Fortis Solutions Group, LLC(7)(18)	First lien senior secured revolving loan	S+	5.50%		10/2027	3,036	2,979	2,918
Indigo Buyer, Inc. (dba Inovar Packaging Group)(7)(18)	First lien senior secured loan	S+	5.25%		5/2028	125,730	124,932	125,730
Pregis Topco LLC(6)	Second lien senior secured loan	S+	7.75%		8/2029	2,500	2,500	2,500
Pregis Topco LLC(6)(21)	First lien senior secured loan	S+	4.00%		7/2026	16,695	16,594	16,680
Pregis Topco LLC(6)	Second lien senior secured loan	S+	6.75%		8/2029	30,000	30,000	30,000
ProAmpac PG Borrower LLC(7)(21)	First lien senior secured loan	S+	4.00%		9/2028	52,001	52,003	51,611
Tricorbraun Holdings, Inc.(6)(21)	First lien senior secured loan	S+	3.25%		3/2028	60,783	60,235	60,182
							912,435	912,638	5.6	%
Distribution
ABB/Con-cise Optical Group LLC(7)	First lien senior secured loan	S+	7.50%		2/2028	33,306	33,024	32,724
AI Aqua Merger Sub, Inc. (dba Culligan)(6)(21)	First lien senior secured loan	S+	3.00%		7/2028	56,266	56,216	55,686
Aramsco, Inc.(7)	First lien senior secured loan	S+	4.75%		10/2030	45,290	44,502	42,233
BCPE Empire Holdings, Inc. (dba Imperial-Dade)(6)(21)	First lien senior secured loan	S+	3.25%		12/2030	93,171	93,165	91,736
BradyPLUS Holdings, LLC (f/k/a BradyIFS Holdings, LLC)(7)(18)	First lien senior secured loan	S+	5.00%		10/2029	175,943	174,442	175,943
Dealer Tire Financial, LLC(17)(20)(21)	Unsecured notes	N/A	8.00%		2/2028	56,120	55,388	54,689
Dealer Tire Financial, LLC(6)	First lien senior secured loan	S+	3.00%		7/2031	30,263	30,263	30,112
Endries Acquisition, Inc.(6)	First lien senior secured loan	S+	5.25%		12/2028	108,544	107,914	107,730
Formerra, LLC(6)	First lien senior secured loan	S+	7.25%		11/2028	5,352	5,234	5,272
Foundation Building Materials, Inc.(7)(21)	First lien senior secured loan	S+	4.00%		1/2031	19,837	19,745	17,986
White Cap Supply Holdings, LLC(6)(21)	First lien senior secured loan	S+	3.25%		10/2029	48,248	48,050	46,699
							667,943	660,810	4.1	%
Education
Ellucian Holdings Inc. (f/k/a Sophia, L.P.)(6)(21)	First lien senior secured loan	S+	4.75%		11/2032	10,000	9,976	10,133
Ellucian Holdings Inc. (f/k/a Sophia, L.P.)(6)(21)	First lien senior secured loan	S+	3.00%		10/2029	19,729	19,729	19,676
Learning Care Group (US) No. 2 Inc.(7)(21)	First lien senior secured loan	S+	4.00%		8/2028	42,113	42,096	41,734
Renaissance Learning, Inc.(6)(21)	First lien senior secured loan	S+	4.00%		4/2030	50,996	50,606	49,971
Severin Acquisition, LLC (dba PowerSchool)(6)	First lien senior secured loan	S+	2.75%	2.25%	10/2031	130,421	129,204	128,791
Severin Acquisition, LLC (dba PowerSchool)(6)(18)	First lien senior secured delayed draw term loan	S+	5.00%		10/2031	1,836	1,700	1,623
Severin Acquisition, LLC (dba PowerSchool)(7)(18)	First lien senior secured revolving loan	S+	4.75%		10/2031	2,449	2,297	2,245

9

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Spring Education Group, Inc. (fka SSH Group Holdings, Inc.)(7)(21)	First lien senior secured loan	S+	4.00%		10/2030	15,146	15,146	15,105
							270,754	269,278	1.7	%
Energy equipment and services
Dresser Utility Solutions, LLC(6)	First lien senior secured loan	S+	5.25%		3/2029	82,081	81,406	81,876
							81,406	81,876	0.5	%
Financial services
Ascensus Holdings, Inc.(6)(21)	First lien senior secured loan	S+	3.00%		8/2028	21,817	21,817	21,633
Baker Tilly Advisory Group, LP(6)	First lien senior secured loan	S+	4.75%		6/2031	98,754	97,409	97,766
BCPE Pequod Buyer, Inc. (dba Envestnet)(7)(21)	First lien senior secured loan	S+	3.50%		11/2031	113,336	111,131	112,894
Blackhawk Network Holdings, Inc.(6)(21)	First lien senior secured loan	S+	4.00%		3/2029	123,067	123,067	122,427
BTRS Holdings Inc. (dba Billtrust)(7)(18)	First lien senior secured loan	S+	5.50%		12/2028	31,936	31,634	31,851
Citrin Cooperman Advisors LLC(6)(21)	First lien senior secured loan	S+	3.00%		3/2032	16,439	16,357	16,306
Cohnreznick Advisory LLC(6)	First lien senior secured loan	S+	4.00%		3/2032	36,541	36,359	36,359
Continental Finance Company, LLC(6)	First lien senior secured loan	S+	8.00%		3/2029	13,250	13,119	13,118
Chrysaor Bidco s.à r.l. (dba AlterDomus)(7)(21)(22)	First lien senior secured loan	S+	3.50%		5/2031	9,288	9,288	9,293
Computer Services, Inc. (dba CSI)(7)	First lien senior secured loan	S+	5.25%		11/2029	52,383	51,826	52,383
Computer Services, Inc. (dba CSI)(7)	First lien senior secured loan	S+	4.75%		11/2029	18,417	18,331	18,371
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)(6)	First lien senior secured loan	S+	5.00%		6/2030	15,554	15,415	15,554
Deerfield Dakota Holdings(7)(21)	First lien senior secured loan	S+	3.75%		4/2027	96,959	96,413	91,801
Deerfield Dakota Holdings(7)	Second lien senior secured loan	S+	6.75%		4/2028	21,476	21,497	20,455
Finastra USA, Inc.(8)(18)(22)	First lien senior secured loan	S+	7.25%		9/2029	167,414	165,768	167,414
Klarna Holding AB(7)(22)	Subordinated Floating Rate Notes	S+	7.00%		4/2034	1,000	1,000	1,000
KRIV Acquisition Inc. (dba Riveron)(7)	First lien senior secured loan	S+	5.75%		7/2029	79,477	77,623	79,477
Minotaur Acquisition, Inc. (dba Inspira Financial)(6)	First lien senior secured loan	S+	5.00%		6/2030	292,044	289,249	292,044
NMI Acquisitionco, Inc. (dba Network Merchants)(6)	First lien senior secured loan	S+	5.00%		9/2028	12,146	12,110	12,146
OneDigital Borrower LLC(6)(21)	Second lien senior secured loan	S+	5.25%		7/2032	33,800	33,642	33,716
OneDigital Borrower LLC(6)(21)	First lien senior secured loan	S+	3.00%		7/2031	54,170	54,170	53,764
PPI Holding US INC. (dba Nuvei)(6)(21)(22)	First lien senior secured loan	S+	3.00%		7/2031	20,000	19,954	19,844
Pushpay USA Inc(7)(22)	First lien senior secured loan	S+	4.00%		8/2031	14,963	14,963	14,963
Saphilux S.a.r.L. (dba IQ-EQ)(8)(21)(22)	First lien senior secured loan	S+	3.50%		7/2028	32,297	32,297	32,297
Smarsh Inc.(7)	First lien senior secured loan	S+	4.75%		2/2029	108,377	107,700	108,377
Smarsh Inc.(6)(18)	First lien senior secured revolving loan	S+	4.75%		2/2029	1,439	1,399	1,439
							1,473,538	1,476,692	9.1	%
Food and beverage
Balrog Acquisition, Inc. (dba Bakemark)(6)(21)	First lien senior secured loan	S+	4.00%		9/2028	13,545	13,467	13,511
Balrog Acquisition, Inc. (dba Bakemark)(6)	Second lien senior secured loan	S+	7.00%		9/2029	6,000	5,967	6,000
Blast Bidco Inc. (dba Bazooka Candy Brands)(7)	First lien senior secured loan	S+	6.00%		10/2030	35,463	34,713	35,463
Dessert Holdings(6)(20)(21)	First lien senior secured loan	S+	4.00%		6/2028	23,338	23,255	22,734
Eagle Family Foods Group LLC(7)	First lien senior secured loan	S+	5.00%		8/2030	174,279	172,680	174,279
Fiesta Purchaser, Inc. (dba Shearer's Foods)(6)(21)	First lien senior secured loan	S+	3.25%		2/2031	54,588	54,588	54,146
Gehl Foods, LLC(7)(18)	First lien senior secured loan	S+	6.25%		6/2030	124,768	123,597	124,768
Hissho Parent, LLC(7)	First lien senior secured loan	S+	4.50%		5/2029	122,948	122,239	122,948

10

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units		Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Innovation Ventures HoldCo, LLC (dba 5 Hour Energy)(6)	First lien senior secured loan	S+	6.25%		3/2027	198,087		196,502	195,117
KBP Brands, LLC(7)	First lien senior secured loan	S+	5.50%	0.50%	5/2027	55,903		55,526	54,924
Ole Smoky Distillery, LLC(6)	First lien senior secured loan	S+	5.50%		3/2028	30,091		29,734	29,865
Savor Acquisition, Inc. (dba Sauer Brands)(6)(21)	First lien senior secured loan	S+	3.25%		2/2032	82,241		82,044	82,118
Rushmore Investment III LLC (dba Winland Foods)(7)	First lien senior secured loan	S+	5.00%		10/2030	510,746		506,139	510,746
Tacala, LLC(6)(21)	First lien senior secured loan	S+	3.50%		1/2031	55,364		55,226	55,276
Vital Bidco AB (dba Vitamin Well)(7)(22)	First lien senior secured loan	S+	4.50%		10/2031	226,043		222,605	226,043
Vital Bidco AB (dba Vitamin Well)(6)(18)(22)	First lien senior secured revolving loan	S+	4.50%		10/2030	12,908		12,270	12,908
								1,710,552	1,720,846	10.6	%
Healthcare equipment and services
Azalea TopCo, Inc. (dba Press Ganey)(6)(21)	First lien senior secured loan	S+	3.25%		4/2031	65,070		65,064	64,679
Bamboo US BidCo LLC(7)	First lien senior secured loan	S+	5.25%		9/2030	113,865		113,774	113,865
Bamboo US BidCo LLC(12)	First lien senior secured EUR term loan	E+	5.25%		9/2030	€	61,443	64,641	66,371
Canadian Hospital Specialties Limited(10)(22)	First lien senior secured loan	C+	4.50%		4/2028	C$	4,823	3,820	3,266
Canadian Hospital Specialties Limited(10)(18)(22)	First lien senior secured revolving loan	C+	4.50%		4/2027	C$	366	290	244
Cambrex Corporation(6)	First lien senior secured loan	S+	4.75%		3/2032	223,073		220,859	220,842
Confluent Medical Technologies, Inc.(7)	First lien senior secured loan	S+	3.25%		2/2029	76,611		76,611	76,419
Creek Parent, Inc. (dba Catalent)(6)	First lien senior secured loan	S+	5.25%		12/2031	294,578		289,575	293,106
CSC MKG Topco LLC (dba Medical Knowledge Group)(6)	First lien senior secured loan	S+	5.75%		2/2029	98,517		97,252	97,777
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(12)	First lien senior secured EUR term loan	E+	5.50%		3/2031	€	55,496	59,291	58,748
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(11)(18)	First lien senior secured EUR revolving loan	E+	5.50%		3/2031	€	704	761	673
Nelipak Holding Company(7)	First lien senior secured loan	S+	5.50%		3/2031	30,306		29,899	29,700
Nelipak Holding Company(6)(18)	First lien senior secured revolving loan	S+	5.50%		3/2031	4,398		4,285	4,222
Packaging Coordinators Midco, Inc.(7)	First lien senior secured loan	S+	4.75%		1/2032	446,206		440,194	440,071
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)(6)(18)(22)	First lien senior secured revolving loan	S+	5.25%		1/2028	47		47	47
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)(7)(18)(22)	First lien senior secured loan	S+	5.25%		1/2028	54,118		53,615	54,118
PerkinElmer U.S. LLC(6)	First lien senior secured loan	S+	5.00%		3/2029	167,938		167,597	166,678
Resonetics, LLC(7)(21)	First lien senior secured loan	S+	3.25%		6/2031	74,625		74,625	74,125
Rhea Parent, Inc.(7)	First lien senior secured loan	S+	4.75%		12/2030	202,800		202,233	202,293
TBRS, Inc. (dba TEAM Technologies)(7)	First lien senior secured loan	S+	4.75%		11/2031	137,711		137,023	137,022
TBRS, Inc. (dba TEAM Technologies)(7)(18)	First lien senior secured revolving loan	S+	4.75%		11/2030	1,255		1,150	1,150
Zest Acquisition Corp.(7)(21)	First lien senior secured loan	S+	5.25%		2/2028	19,485		19,485	19,511
								2,122,091	2,124,927	13.1	%
Healthcare providers and services
Allied Benefit Systems Intermediate LLC(7)	First lien senior secured loan	S+	5.25%		10/2030	20,812		20,548	20,812
Belmont Buyer, Inc. (dba Valenz)(7)	First lien senior secured loan	S+	6.50%		6/2029	68,446		67,371	68,446
Belmont Buyer, Inc. (dba Valenz)(7)	First lien senior secured loan	S+	5.21%		6/2029	42,943		42,658	42,621
Belmont Buyer, Inc. (dba Valenz)(8)(18)	First lien senior secured revolving loan	S+	6.50%		6/2029	2,217		2,123	2,217
Confluent Health, LLC(6)	First lien senior secured loan	S+	5.00%		11/2028	19,800		19,342	18,909
Covetrus, Inc.(7)(21)	First lien senior secured loan	S+	5.00%		10/2029	35,217		34,054	33,787
Covetrus, Inc.(7)	Second lien senior secured loan	S+	9.25%		10/2030	160,000		157,396	155,600

11

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
D4C Dental Brands, Inc.(7)(20)	First lien senior secured loan	S+	4.50%		11/2029	136,244	135,094	134,882
Engage Debtco Limited(7)(20)(22)	First lien senior secured loan	S+	3.03%	4.00%	7/2029	32,344	31,668	32,182
Engage Debtco Limited(7)(22)	First lien senior secured loan	S+	3.18%	2.50%	7/2029	83,891	82,535	81,794
EresearchTechnology, Inc. (dba Clario)(6)(18)	First lien senior secured loan	S+	4.75%		1/2032	178,291	176,394	176,349
Ex Vivo Parent Inc. (dba OB Hospitalist)(7)	First lien senior secured loan	S+		9.90%	9/2028	43,654	43,282	43,654
KABAFUSION Parent, LLC(7)	First lien senior secured loan	S+	5.00%		11/2031	71,222	70,537	71,044
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)(7)	First lien senior secured loan	S+	4.75%		12/2029	173,203	170,529	173,203
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(6)(18)	First lien senior secured loan	S+	4.00%		9/2030	76,948	76,607	76,563
Maple Acquisition, LLC (dba Medicus)(8)	First lien senior secured loan	S+	5.00%		5/2031	105,649	104,927	105,649
MED ParentCo, LP(6)(21)	First lien senior secured loan	S+	3.50%		4/2031	24,875	24,875	24,820
MJH Healthcare Holdings, LLC(6)(20)(21)	First lien senior secured loan	S+	3.25%		1/2029	14,428	14,428	14,339
Natural Partners, LLC(7)(22)	First lien senior secured loan	S+	4.50%		11/2027	91,304	90,279	91,304
Neptune Holdings, Inc. (dba NexTech)(7)	First lien senior secured loan	S+	4.50%		8/2030	30,496	30,350	30,496
OB Hospitalist Group, Inc.(6)	First lien senior secured loan	S+	5.25%		9/2027	68,252	67,508	68,252
OneOncology, LLC(7)	First lien senior secured loan	S+	4.75%		6/2030	104,770	104,529	104,247
OneOncology, LLC(7)(18)	First lien senior secured delayed draw term loan	S+	5.00%		6/2030	97,920	97,192	97,920
Pacific BidCo Inc.(8)(22)	First lien senior secured loan	S+		6.00%	8/2029	169,769	166,926	166,373
Pacific BidCo Inc.(8)(22)	First lien senior secured delayed draw term loan	S+	5.75%		8/2029	17,905	17,577	17,547
Pediatric Associates Holding Company, LLC(7)(21)	First lien senior secured loan	S+	3.25%		12/2028	32,144	31,244	29,872
Pediatric Associates Holding Company, LLC(7)	First lien senior secured loan	S+	4.50%		12/2028	27,347	26,478	26,253
PetVet Care Centers, LLC(6)	First lien senior secured loan	S+	6.00%		11/2030	239,928	237,877	226,732
Phantom Purchaser, Inc.(7)	First lien senior secured loan	S+	5.00%		9/2031	89,196	88,356	88,973
Physician Partners, LLC(7)	First lien senior secured loan	S+	6.00%		12/2029	177,659	167,966	168,776
Physician Partners, LLC(7)	First lien senior secured loan	S+	4.00%		12/2029	17,766	10,921	10,660
Physician Partners, LLC(7)	First lien senior secured loan	S+	5.50%		12/2029	81,327	53,553	52,456
Plasma Buyer LLC (dba PathGroup)(7)	First lien senior secured loan	S+	5.75%		5/2029	107,379	105,944	105,500
Plasma Buyer LLC (dba PathGroup)(7)	First lien senior secured delayed draw term loan	S+	6.25%		5/2029	4,057	3,996	3,986
Plasma Buyer LLC (dba PathGroup)(7)(18)	First lien senior secured revolving loan	S+	5.75%		5/2028	10,116	9,989	9,903
PPV Intermediate Holdings, LLC(7)	First lien senior secured loan	S+	5.75%		8/2029	162,171	159,876	162,171
PPV Intermediate Holdings, LLC(7)	First lien senior secured delayed draw term loan	S+	6.00%		8/2029	10,022	9,941	10,022
Premise Health Holding Corp.(7)	First lien senior secured loan	S+	5.50%		3/2031	69,953	69,023	69,778
Quva Pharma, Inc.(8)	First lien senior secured loan	S+	5.50%		4/2028	5,890	5,797	5,860
Quva Pharma, Inc.(7)	First lien senior secured loan	S+	5.50%		4/2026	909	893	905
Quva Pharma, Inc.(8)	First lien senior secured revolving loan	S+	5.50%		4/2026	455	452	452
SimonMed, Inc.(7)(18)	First lien senior secured loan	S+	4.75%		2/2032	245,118	243,795	243,779
Soleo Holdings, Inc.(7)	First lien senior secured loan	S+	4.75%		2/2032	112,324	111,772	111,762
Soliant Lower Intermediate, LLC (dba Soliant)(8)(21)	First lien senior secured loan	S+	3.75%		7/2031	66,833	64,242	65,416
TC Holdings, LLC (dba TrialCard)(7)	First lien senior secured loan	S+	5.00%		4/2027	209,154	208,432	209,154
Tivity Health, Inc.(6)	First lien senior secured loan	S+	5.00%		6/2029	74,829	74,829	74,829
Unified Women's Healthcare, LP(7)	First lien senior secured loan	S+	5.25%		6/2029	81,825	81,411	81,825
Unified Women's Healthcare, LP(7)	First lien senior secured loan	S+	5.50%		6/2029	68,200	67,767	68,200
Unified Women's Healthcare, LP(6)	First lien senior secured delayed draw term loan	S+	5.25%		6/2029	71,624	71,162	71,624

12

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units		Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Unified Women's Healthcare, LP(6)(18)	First lien senior secured delayed draw term loan	S+	5.00%		6/2029	20,249		19,992	19,973
Vermont Aus Pty Ltd(14)(22)	First lien senior secured AUD term loan	B+	5.75%		3/2028	A$	70,532	47,868	43,732
WCG Intermediate Corp. (f/k/a Da Vinci Purchaser Corp.) (dba WCG)(6)(21)	First lien senior secured loan	S+	3.00%		2/2032	30,000		29,870	29,664
								3,852,175	3,845,267	23.6	%
Healthcare technology
Athenahealth Group Inc.(6)(21)	First lien senior secured loan	S+	3.00%		2/2029	26,059		26,059	25,692
BCPE Osprey Buyer, Inc. (dba PartsSource)(7)	First lien senior secured loan	S+	5.75%		8/2028	52,545		52,074	51,888
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(18)	First lien senior secured delayed draw term loan	S+	5.75%		8/2028	10,916		10,628	10,725
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(18)	First lien senior secured revolving loan	S+	5.75%		8/2026	4,293		4,272	4,235
Bracket Intermediate Holding Corp.(7)(21)	First lien senior secured loan	S+	4.25%		5/2028	49,128		49,128	49,251
Color Intermediate, LLC (dba ClaimsXten)(7)	First lien senior secured loan	S+	4.75%		10/2029	9,050		9,050	9,050
Cotiviti, Inc.(6)	First lien senior secured loan	S+	2.75%		5/2031	39,900		39,388	39,002
Cotiviti, Inc.(6)(21)	First lien senior secured loan	S+	2.75%		3/2032	5,000		4,913	4,881
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(6)	First lien senior secured loan	S+	5.00%		8/2031	349,962		348,075	349,962
Ensemble RCM, LLC(7)(21)	First lien senior secured loan	S+	3.00%		8/2029	12,387		12,311	12,366
GI Ranger Intermediate, LLC (dba Rectangle Health)(7)	First lien senior secured loan	S+	5.75%		10/2028	20,343		20,107	19,936
GI Ranger Intermediate, LLC (dba Rectangle Health)(6)	First lien senior secured loan	S+	5.75%		10/2028	4,174		4,126	4,090
Imprivata, Inc.(7)(21)	First lien senior secured loan	S+	3.50%		12/2027	10,319		10,319	10,304
Indikami Bidco, LLC (dba IntegriChain)(6)	First lien senior secured loan	S+	4.00%	2.50%	12/2030	48,173		47,249	47,692
Indikami Bidco, LLC (dba IntegriChain)(6)(18)	First lien senior secured delayed draw term loan	S+	6.00%		12/2030	751		695	743
Indikami Bidco, LLC (dba IntegriChain)(6)(18)	First lien senior secured revolving loan	S+	6.00%		6/2030	2,628		2,543	2,581
Inovalon Holdings, Inc.(7)	First lien senior secured loan	S+	5.75%		11/2028	92,721		91,403	92,721
Inovalon Holdings, Inc.(7)	Second lien senior secured loan	S+		10.76%	11/2033	60,094		59,442	60,094
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(7)(22)	First lien senior secured loan	S+	6.50%		8/2026	31,446		31,315	30,661
Interoperability Bidco, Inc. (dba Lyniate)(7)(18)	First lien senior secured loan	S+	5.75%		3/2028	78,481		78,254	76,819
PointClickCare Technologies, Inc.(7)(21)(22)	First lien senior secured loan	S+	3.25%		11/2031	51,870		51,740	51,709
Project Ruby Ultimate Parent Corp. (dba Wellsky)(6)(21)	First lien senior secured loan	S+	3.00%		3/2028	73,254		73,254	72,961
Raven Acquisition Holdings, LLC (dba R1 RCM)(6)(21)	First lien senior secured loan	S+	3.25%		11/2031	79,333		78,990	78,310
RL Datix Holdings (USA), Inc.(8)	First lien senior secured loan	S+	5.25%		4/2031	66,094		65,499	65,598
RL Datix Holdings (USA), Inc.(15)	First lien senior secured GBP term loan	SA+	5.25%		4/2031	£	30,608	37,885	39,210
Salinger Bidco Inc. (dba Surgical Information Systems)(7)	First lien senior secured loan	S+	5.75%		8/2031	59,336		58,503	59,336
Southern Veterinary Partners, LLC(6)(21)	First lien senior secured loan	S+	3.25%		12/2031	40,000		39,855	39,864
Zelis Cost Management Buyer, Inc.(6)(21)	First lien senior secured loan	S+	2.75%		9/2029	4,950		4,930	4,914
Zelis Cost Management Buyer, Inc.(6)(21)	First lien senior secured loan	S+	3.25%		11/2031	99,750		99,275	99,411
								1,411,282	1,414,006	8.7	%

13

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Household products
Home Service TopCo IV, Inc.(7)	First lien senior secured loan	S+	4.50%		12/2027	35,832	35,832	35,832
Mario Midco Holdings, Inc. (dba Len the Plumber)(6)	Unsecured facility	S+		10.75%	4/2032	34,035	33,489	32,843
Mario Purchaser, LLC (dba Len the Plumber)(6)(18)	First lien senior secured loan	S+	5.75%		4/2029	116,347	114,611	112,725
Mario Purchaser, LLC (dba Len the Plumber)(6)(18)	First lien senior secured revolving loan	S+	5.75%		4/2028	2,947	2,865	2,726
SimpliSafe Holding Corporation(6)	First lien senior secured loan	S+	6.25%		5/2028	140,750	139,088	140,750
Southern Air & Heat Holdings, LLC(7)(18)	First lien senior secured loan	S+	4.75%		10/2027	1,117	1,107	1,117
Southern Air & Heat Holdings, LLC(7)(18)	First lien senior secured delayed draw term loan	S+	5.25%		10/2027	10,499	9,750	10,499
Southern Air & Heat Holdings, LLC(8)	First lien senior secured delayed draw term loan	S+	4.75%		10/2027	1,101	1,094	1,101
Walker Edison Furniture Company LLC(7)(18)(25)(31)	First lien senior secured loan	S+		6.75%	3/2027	6,572	5,428	1,119
							343,264	338,712	2.1	%
Human resource support services
AQ Carver Buyer, Inc. (dba CoAdvantage)(8)(21)	First lien senior secured loan	S+	5.50%		8/2029	22,163	21,801	21,914
Cast & Crew Payroll, LLC(6)(20)(21)	First lien senior secured loan	S+	3.75%		12/2028	29,718	29,548	28,601
Cornerstone OnDemand, Inc.(6)(20)(21)	First lien senior secured loan	S+	3.75%		10/2028	19,400	19,345	16,758
Cornerstone OnDemand, Inc.(6)	Second lien senior secured loan	S+	6.50%		10/2029	44,583	44,144	37,561
IG Investments Holdings, LLC (dba Insight Global)(7)	First lien senior secured loan	S+	5.00%		9/2028	47,597	47,599	47,597
iSolved, Inc.(6)(21)	First lien senior secured loan	S+	3.25%		10/2030	19,757	19,757	19,751
UKG Inc. (dba Ultimate Software)(7)(21)	First lien senior secured loan	S+	3.00%		2/2031	28,608	28,595	28,533
							210,789	200,715	1.2	%
Infrastructure and environmental services
AWP Group Holdings, Inc.(6)(18)	First lien senior secured loan	S+	4.75%		12/2030	43,068	43,069	42,591
Azuria Water Solutions, Inc. (f/k/a Aegion Corporation)(6)(20)(21)	First lien senior secured loan	S+	3.00%		5/2028	36,756	36,756	36,492
CHA Vision Holdings, Inc. (fka FR Vision Holdings, Inc.)(7)(18)	First lien senior secured loan	S+	5.00%		1/2031	51,519	51,007	51,519
Geosyntec Consultants, Inc.(6)(21)	First lien senior secured loan	S+	3.75%		7/2031	4,988	4,963	4,975
GI Apple Midco LLC (dba Atlas Technical Consultants)(6)(18)	First lien senior secured loan	S+	6.75%		4/2030	82,649	81,405	81,822
GI Apple Midco LLC (dba Atlas Technical Consultants)(6)(18)	First lien senior secured revolving loan	S+	6.75%		4/2029	6,333	6,183	6,222
KENE Acquisition, Inc. (dba Entrust Solutions Group)(7)(18)	First lien senior secured loan	S+	5.25%		2/2031	17,535	17,171	17,299
Osmose Utilities Services, Inc.(6)(21)	First lien senior secured loan	S+	3.25%		6/2028	4,791	4,752	4,721
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(7)	First lien senior secured loan	S+	5.75%		3/2028	38,348	37,898	38,156
USIC Holdings, Inc.(7)(18)	First lien senior secured loan	S+	5.50%		9/2031	38,334	37,978	37,533
USIC Holdings, Inc.(7)(18)	First lien senior secured revolving loan	S+	5.25%		9/2031	2,621	2,577	2,524
Vessco Midco Holdings, LLC(6)(18)	First lien senior secured loan	S+	4.75%		7/2031	77,944	77,141	77,554
							400,900	401,408	2.5	%
Insurance
Acrisure, LLC(17)(21)(22)	Unsecured notes	N/A	8.50%		6/2029	18,375	18,375	19,114
Acrisure, LLC(6)(21)	First lien senior secured loan	S+	3.00%		11/2030	59,038	59,038	58,566
Alera Group, Inc.(6)	First lien senior secured loan	S+	5.25%		10/2028	146,581	146,581	146,581
Alera Group, Inc.(6)	First lien senior secured delayed draw term loan	S+	5.75%		10/2028	45,581	45,256	45,581
AmeriLife Holdings LLC(8)(18)	First lien senior secured loan	S+	5.00%		8/2029	304,042	300,754	302,480
Ardonagh Midco 3 PLC(8)(21)(22)	First lien senior secured loan	S+	2.75%		2/2031	55,000	55,000	54,247
AssuredPartners, Inc.(6)(21)	First lien senior secured loan	S+	3.50%		2/2031	59,702	59,608	59,738

14

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units		Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Asurion, LLC(6)(21)	Second lien senior secured loan	S+	5.25%		1/2029	104,017		100,004	96,102
Asurion, LLC(6)(21)	Second lien senior secured loan	S+	5.25%		1/2028	42,700		40,675	40,321
Asurion, LLC(6)(21)	First lien senior secured loan	S+	3.25%		12/2026	20,000		20,000	19,960
Brightway Holdings, LLC(7)(18)	First lien senior secured loan	S+	5.75%		12/2027	21,080		20,928	21,080
Broadstreet Partners, Inc.(6)(21)	First lien senior secured loan	S+	3.00%		6/2031	13,566		13,566	13,437
Diamond Mezzanine 24 LLC (dba United Risk)(7)	First lien senior secured loan	S+	5.00%		10/2030	92,393		91,933	92,393
Disco Parent, Inc. (dba Duck Creek Technologies, Inc.)(7)	First lien senior secured loan	S+	7.50%		3/2029	1,064		1,044	1,056
Evolution BuyerCo, Inc. (dba SIAA)(7)	First lien senior secured loan	S+	4.75%		4/2030	209,802		209,154	209,802
Galway Borrower LLC(7)(18)	First lien senior secured delayed draw term loan	S+	4.50%		9/2028	4,861		4,805	4,861
Hyperion Refinance S.à r.l (dba Howden Group)(6)(21)(22)	First lien senior secured loan	S+	3.00%		2/2031	61,066		61,066	60,565
IMA Financial Group, Inc.(6)(21)	First lien senior secured loan	S+	3.00%		11/2028	58,943		58,943	58,536
Integrated Specialty Coverages, LLC(7)	First lien senior secured loan	S+	4.75%		7/2030	101,160		100,762	101,160
Integrity Marketing Acquisition, LLC(7)	First lien senior secured loan	S+	5.00%		8/2028	352,442		350,841	352,442
KUSRP Intermediate, Inc. (dba U.S. Retirement and Benefits Partners)(6)	First lien senior secured loan	S+		10.60%	7/2030	17,185		17,065	17,185
KWOR Acquisition, Inc. (dba Alacrity Solutions)(7)	First lien senior secured loan	S+	1.00%	5.25%	2/2030	17,590		17,504	17,502
KWOR Intermediate I, Inc. (dba Alacrity Solutions)(7)	First lien senior secured loan	S+		8.00%	2/2030	5,783		5,726	5,725
Mitchell International, Inc.(6)(21)	First lien senior secured loan	S+	3.25%		6/2031	91,863		91,454	90,678
Mitchell International, Inc.(6)(21)	Second lien senior secured loan	S+	5.25%		6/2032	32,700		32,548	31,768
PCF Midco II, LLC (dba PCF Insurance Services)(17)	First lien senior secured loan	N/A		9.00%	10/2031	60,337		57,113	60,035
Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services)(6)	First lien senior secured loan	S+	5.50%		11/2028	154,647		154,647	154,647
Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services)(7)	First lien senior secured loan	S+	5.50%		11/2028	27,883		27,883	27,883
Simplicity Financial Marketing Group Holdings, Inc.(7)	First lien senior secured loan	S+	5.00%		12/2031	150,893		149,423	149,384
Simplicity Financial Marketing Group Holdings, Inc.(8)(18)	First lien senior secured delayed draw term loan	S+	5.00%		12/2031	6,438		6,212	6,205
Summit Acquisition Inc. (dba K2 Insurance Services)(6)	First lien senior secured loan	S+	3.75%		10/2031	20,000		19,905	20,000
Tempo Buyer Corp. (dba Global Claims Services)(7)	First lien senior secured loan	S+	4.75%		8/2028	35,337		34,938	35,337
THG Acquisition, LLC (dba Hilb)(6)(18)	First lien senior secured loan	S+	4.75%		10/2031	93,767		92,708	92,629
Truist Insurance Holdings, LLC(7)(18)	First lien senior secured revolving loan	S+	3.00%		5/2029	896		896	896
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners)(6)(18)	First lien senior secured loan	S+	5.00%		12/2029	37,400		37,169	37,400
								2,503,524	2,505,296	15.4	%
Internet software and services
Activate Holdings (US) Corp. (dba Absolute Software)(7)(22)	First lien senior secured loan	S+	5.50%		7/2030	5,696		5,676	5,696
AI Titan Parent, Inc. (dba Prometheus Group)(6)	First lien senior secured loan	S+	4.75%		8/2031	33,962		33,645	33,623
AlphaSense, Inc.(7)	First lien senior secured loan	S+	6.25%		6/2029	3,533		3,502	3,507
Anaplan, Inc.(7)	First lien senior secured loan	S+	5.00%		6/2029	230,819		230,762	230,819
Appfire Technologies, LLC(7)	First lien senior secured loan	S+	5.00%		3/2028	13,955		13,891	13,955
Aptean Acquiror, Inc. (dba Aptean)(7)(18)	First lien senior secured loan	S+	5.25%		1/2031	89,867		89,078	89,867
Armstrong Bidco Limited(15)(22)	First lien senior secured GBP term loan	SA+	5.25%		6/2029	£	40,434	48,917	51,928

15

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units		Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Artifact Bidco, Inc. (dba Avetta)(7)	First lien senior secured loan	S+	4.50%		7/2031	15,498		15,427	15,420
Avalara, Inc.(6)(21)	First lien senior secured loan	S+	3.25%		3/2032	62,500		62,188	62,206
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)(6)	First lien senior secured loan	S+	6.50%		3/2031	17,955		17,718	17,820
Barracuda Networks, Inc.(7)(21)	First lien senior secured loan	S+	4.50%		8/2029	14,118		13,820	12,177
Barracuda Networks, Inc.(7)	Second lien senior secured loan	S+	7.00%		8/2030	93,250		91,102	70,637
Barracuda Parent, LLC(7)	First lien senior secured loan	S+	6.50%		8/2029	34,116		33,102	32,325
Bayshore Intermediate #2, L.P. (dba Boomi)(7)	First lien senior secured loan	S+	2.88%	3.38%	10/2028	214,589		214,554	214,589
BCTO BSI Buyer, Inc. (dba Buildertrend)(7)	First lien senior secured loan	S+	6.50%		12/2026	1,198		1,194	1,198
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)(7)(18)	First lien senior secured loan	S+	5.50%		8/2027	10,194		10,080	9,924
Central Parent Inc. (dba CDK Global Inc.)(7)(21)	First lien senior secured loan	S+	3.25%		7/2029	9,283		9,283	7,944
CivicPlus, LLC(7)	First lien senior secured loan	S+	5.75%		8/2027	28,605		28,470	28,605
Cloud Software Group, Inc.(7)(21)	First lien senior secured loan	S+	3.75%		3/2031	79,812		79,812	78,958
Cloud Software Group, Inc.(7)(21)	First lien senior secured loan	S+	3.50%		3/2029	55,156		55,156	54,594
Clover Holdings 2, LLC (dba Cohesity)(7)(21)	First lien senior secured loan	S+	4.00%		12/2031	69,821		69,155	68,949
Coupa Holdings, LLC(7)	First lien senior secured loan	S+	5.25%		2/2030	24,161		24,161	24,161
CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC)(8)	Unsecured notes	S+		12.00%	6/2034	20,135		19,821	20,135
Crewline Buyer, Inc. (dba New Relic)(6)	First lien senior secured loan	S+	6.75%		11/2030	171,701		169,484	169,984
Databricks, Inc.(6)	First lien senior secured loan	S+	4.50%		1/2031	73,469		73,114	73,102
Delta TopCo, Inc. (dba Infoblox, Inc.)(7)(21)	Second lien senior secured loan	S+	5.25%		11/2030	33,000		32,846	32,927
Diamond Insure Bidco (dba Acturis)(13)(22)	First lien senior secured EUR term loan	E+	4.25%		7/2031	€	3,123	3,290	3,332
Diamond Insure Bidco (dba Acturis)(15)(22)	First lien senior secured GBP term loan	SA+	4.50%		7/2031	£	10,210	12,672	13,013
E2open, LLC(6)(21)	First lien senior secured loan	S+	3.50%		2/2028	5,120		5,116	5,105
EET Buyer, Inc. (dba e-Emphasys)(7)	First lien senior secured loan	S+	4.75%		11/2027	40,068		39,733	40,068
Einstein Parent, Inc. (dba Smartsheet)(7)	First lien senior secured loan	S+	6.50%		1/2031	76,841		76,032	76,073
Entrata, Inc.(6)	First lien senior secured loan	S+	5.75%		7/2030	4,431		4,377	4,431
Forescout Technologies, Inc.(7)	First lien senior secured loan	S+	5.00%		5/2031	9,213		9,171	9,167
Granicus, Inc.(7)	First lien senior secured loan	S+	3.50%	2.25%	1/2031	33,237		32,955	33,237
Granicus, Inc.(7)	First lien senior secured delayed draw term loan	S+	3.00%	2.25%	1/2031	4,924		4,881	4,887
GS Acquisitionco, Inc. (dba insightsoftware)(7)(18)	First lien senior secured loan	S+	5.25%		5/2028	9,516		9,499	9,419
Hyland Software, Inc.(6)	First lien senior secured loan	S+	5.00%		9/2030	145,395		145,395	145,395
Icefall Parent, Inc. (dba EngageSmart)(7)	First lien senior secured loan	S+	6.50%		1/2030	28,869		28,380	28,869
Javelin Buyer, Inc. (dba JAGGAER)(7)(21)	First lien senior secured loan	S+	3.25%		10/2031	15,000		14,964	14,915
JS Parent, Inc. (dba Jama Software)(7)	First lien senior secured loan	S+	5.00%		4/2031	907		903	907
Litera Bidco LLC(6)(18)	First lien senior secured loan	S+	5.00%		5/2028	42,846		42,671	42,739
Magnet Forensics, LLC (f/k/a Grayshift, LLC)(6)(22)	First lien senior secured loan	S+	5.00%		7/2028	167,675		167,503	167,675
Ministry Brands Holdings, LLC(6)	First lien senior secured loan	S+	5.50%		12/2028	52,801		52,169	52,405
Mitnick Corporate Purchaser, Inc.(7)(18)(20)	First lien senior secured revolving loan	S+	3.00%		5/2027	1,125		1,130	(328)
Oranje Holdco, Inc. (dba KnowBe4)(7)	First lien senior secured loan	S+	7.75%		2/2029	81,182		80,306	81,182
Oranje Holdco, Inc. (dba KnowBe4)(7)	First lien senior secured loan	S+	7.25%		2/2029	34,017		33,730	33,762
PDI TA Holdings, Inc.(7)(18)	First lien senior secured loan	S+	5.50%		2/2031	73,227		72,227	72,437
Perforce Software, Inc.(6)(21)	First lien senior secured loan	S+	4.75%		3/2031	4,963		4,940	4,634
Perforce Software, Inc.(6)(21)	First lien senior secured loan	S+	4.75%		6/2029	14,626		14,417	13,916

16

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units		Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Project Alpha Intermediate Holding, Inc. (dba Qlik)(7)(21)	First lien senior secured loan	S+	3.25%		10/2030	24,626		24,568	24,555
Proofpoint, Inc.(6)(21)	First lien senior secured loan	S+	3.00%		8/2028	54,068		54,004	53,846
QAD, Inc.(6)	First lien senior secured loan	S+	4.75%		11/2027	46,168		46,168	46,053
Starlight Parent, LLC (dba SolarWinds)(6)(21)	First lien senior secured loan	S+	4.00%		3/2032	32,500		31,525	31,506
Sophos Holdings, LLC(6)(21)(22)	First lien senior secured loan	S+	3.50%		3/2027	19,670		19,642	19,656
Securonix, Inc.(7)	First lien senior secured loan	S+	4.00%	3.75%	4/2028	29,945		29,774	25,978
Securonix, Inc.(7)(18)	First lien senior secured revolving loan	S+	7.00%		4/2028	120		93	(587)
Sedgwick Claims Management Services, Inc.(7)(21)	First lien senior secured loan	S+	3.00%		7/2031	74,751		74,513	74,474
Sitecore Holding III A/S(12)	First lien senior secured EUR term loan	E+	3.50%	4.25%	3/2029	€	25,369	26,611	27,404
Sitecore Holding III A/S(7)	First lien senior secured loan	S+	3.50%	4.25%	3/2029	4,362		4,338	4,362
Sitecore USA, Inc.(7)	First lien senior secured loan	S+	3.50%	4.25%	3/2029	26,299		26,154	26,299
Storable, Inc.(6)(21)	First lien senior secured loan	S+	3.25%		4/2031	64,476		64,399	64,050
Spaceship Purchaser, Inc. (dba Squarespace)(7)	First lien senior secured loan	S+	5.00%		10/2031	125,702		125,104	125,702
Tricentis Operations Holdings, Inc.(7)	First lien senior secured loan	S+	1.38%	4.88%	2/2032	50,274		49,779	49,771
Thunder Purchaser, Inc. (dba Vector Solutions)(7)(18)	First lien senior secured loan	S+	5.25%		6/2028	44,664		44,443	44,664
VIRTUSA CORPORATION(6)(21)	First lien senior secured loan	S+	3.25%		2/2029	29,602		29,622	29,519
When I Work, Inc.(7)	First lien senior secured loan	S+	5.50%		11/2027	26,891		26,781	25,950
Zendesk, Inc.(7)	First lien senior secured loan	S+	4.99%		11/2028	144,683		142,979	144,683
								3,122,916	3,100,175	19.1	%
Leisure and entertainment
Aerosmith Bidco 1 Limited (dba Audiotonix)(7)(22)	First lien senior secured loan	S+	5.25%		7/2031	341,349		337,278	341,349
Cirque du Soleil Canada, Inc.(7)(20)(21)(22)	First lien senior secured loan	S+	3.75%		3/2030	41,962		41,868	41,673
Pretzel Parent, Inc.(6)(21)	First lien senior secured loan	S+	4.50%		8/2031	37,500		36,974	37,455
Troon Golf, L.L.C.(7)(18)	First lien senior secured loan	S+	4.50%		8/2028	381,696		381,454	381,696
								797,574	802,173	4.9	%
Manufacturing
ACR Group Borrower, LLC(7)(18)	First lien senior secured loan	S+	4.75%		3/2028	1,891		1,876	1,886
ACR Group Borrower, LLC(7)	First lien senior secured loan	S+	4.25%		3/2028	3,970		3,942	3,921
ACR Group Borrower, LLC(7)	First lien senior secured loan	S+	5.75%		3/2028	853		846	853
ACR Group Borrower, LLC(6)(18)	First lien senior secured revolving loan	S+	4.25%		3/2026	25		22	14
Chariot Buyer LLC (dba Chamberlain Group)(6)(21)	First lien senior secured loan	S+	3.25%		11/2028	28,840		28,865	28,546
CPM Holdings, Inc.(6)(20)(21)	First lien senior secured loan	S+	4.50%		9/2028	39,400		38,577	38,667
Engineered Machinery Holdings, Inc. (dba Duravant)(7)(20)	Second lien senior secured loan	S+	6.50%		5/2029	37,181		37,069	37,181
Engineered Machinery Holdings, Inc. (dba Duravant)(7)(20)	Second lien senior secured loan	S+	6.00%		5/2029	19,160		19,128	19,016
Engineered Machinery Holdings, Inc. (dba Duravant)(7)(21)	First lien senior secured loan	S+	3.75%		5/2028	9,065		8,912	9,060
Faraday Buyer, LLC (dba MacLean Power Systems)(7)	First lien senior secured loan	S+	6.00%		10/2028	134,587		132,521	133,241
Filtration Group Corporation(6)(21)	First lien senior secured loan	S+	3.00%		10/2028	25,385		25,385	25,337
FR Flow Control CB LLC (dba Trillium Flow Technologies)(7)(22)	First lien senior secured loan	S+	5.25%		12/2029	141,180		140,169	140,121
Gloves Buyer, Inc. (dba Protective Industrial Products)(6)(21)	First lien senior secured loan	S+	4.00%		1/2032	148,000		147,260	142,080
Helix Acquisition Holdings, Inc. (dba MW Industries)(6)	First lien senior secured loan	S+	7.00%		3/2030	61,484		60,022	61,023
Ideal Tridon Holdings, Inc.(7)	First lien senior secured loan	S+	6.75%		4/2028	89,866		88,060	89,866
MADISON IAQ LLC(6)	First lien senior secured loan	S+	3.25%		3/2032	40,000		39,600	39,600

17

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units		Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
MHE Intermediate Holdings, LLC (dba OnPoint Group)(7)(18)	First lien senior secured loan	S+	6.00%		7/2027	61,315		61,028	60,998
MHE Intermediate Holdings, LLC (dba OnPoint Group)(7)	First lien senior secured loan	S+	6.25%		7/2027	4,620		4,571	4,608
Pro Mach Group, Inc.(6)(21)	First lien senior secured loan	S+	2.75%		8/2028	68,777		68,777	68,550
Sonny's Enterprises, LLC(7)(18)	First lien senior secured loan	S+	5.50%		8/2028	166,057		164,297	165,227
Sonny's Enterprises, LLC(7)(18)	First lien senior secured revolving loan	S+	5.50%		8/2027	15,023		14,815	14,893
								1,085,742	1,084,688	6.7	%
Pharmaceuticals
Opal US LLC(6)(22)	First lien senior secured loan	S+	3.50%		3/2032	42,500		42,288	42,288
Puma Buyer, LLC (dba PANTHERx)(7)	First lien senior secured loan	S+	4.50%		3/2032	130,344		129,368	129,367
								171,656	171,655	1.1	%
Professional services
AmSpec Parent, LLC(7)(21)	First lien senior secured loan	S+	4.25%		12/2031	34,667		34,499	34,601
Apex Group Treasury LLC(7)(21)(22)	First lien senior secured loan	S+	3.50%		2/2032	123,250		122,945	122,708
Certinia Inc.(7)	First lien senior secured loan	S+	5.25%		8/2030	44,118		43,538	44,118
Element Materials Technology(7)(21)(22)	First lien senior secured loan	S+	3.75%		6/2029	27,319		27,319	27,226
EP Purchaser, LLC (dba Entertainment Partners)(7)(21)	First lien senior secured loan	S+	4.50%		11/2028	29,475		28,758	29,498
Essential Services Holding Corporation (dba Turnpoint)(7)(18)	First lien senior secured revolving loan	S+	5.00%		6/2030	697		659	653
Essential Services Holding Corporation (dba Turnpoint)(7)	First lien senior secured loan	S+	5.00%		6/2031	35,548		35,222	35,193
Gerson Lehrman Group, Inc.(7)	First lien senior secured loan	S+	5.00%		12/2027	166,014		164,937	166,014
Guidehouse Inc.(6)	First lien senior secured loan	S+	3.00%	2.00%	12/2030	107,674		107,674	107,674
Paris US Holdco, Inc. (dba Precinmac)(6)	First lien senior secured loan	S+	5.00%		12/2031	69,995		69,321	69,295
Paris US Holdco, Inc. (dba Precinmac)(16)(18)	First lien senior secured revolving loan	P+	4.00%		12/2031	90		4	—
Relativity ODA LLC(6)	First lien senior secured loan	S+	4.49%		5/2029	32,738		32,620	32,656
Sensor Technology Topco, Inc. (dba Humanetics)(7)(18)	First lien senior secured loan	S+	7.00%		5/2028	239,144		238,428	239,144
Sensor Technology Topco, Inc. (dba Humanetics)(12)(18)	First lien senior secured EUR term loan	E+	7.25%		5/2028	€	43,242	46,826	46,710
Sensor Technology Topco, Inc. (dba Humanetics)(6)(18)	First lien senior secured revolving loan	S+	6.50%		5/2028	10,114		10,057	10,114
Sovos Compliance, LLC(6)(21)	First lien senior secured loan	S+	4.00%		8/2029	48,633		48,662	48,376
Thevelia (US) LLC (dba Tricor)(7)(21)(22)	First lien senior secured loan	S+	3.00%		6/2029	21,019		21,019	20,941
Vensure Employer Services, Inc.(7)	First lien senior secured loan	S+	5.00%		9/2031	166,664		165,101	164,998
Vensure Employer Services, Inc.(7)(18)	First lien senior secured delayed draw term loan	S+	4.50%		9/2031	452		285	282
Vistage International, Inc.(7)(21)	First lien senior secured loan	S+	3.75%		7/2029	29,765		29,765	29,690
								1,227,639	1,229,891	7.6	%
Specialty retail
Galls, LLC(7)(18)	First lien senior secured loan	S+	5.00%	1.50%	3/2030	130,018		128,155	130,018
Galls, LLC(7)(18)	First lien senior secured revolving loan	S+	6.00%		3/2030	3,139		2,945	3,139
Ideal Image Development, LLC(7)(18)	First lien senior secured loan	S+		6.50%	2/2029	3,281		3,263	3,195
Ideal Image Development, LLC(7)(18)	First lien senior secured revolving loan	S+	6.00%		2/2029	953		953	953
Milan Laser Holdings LLC(7)	First lien senior secured loan	S+	5.00%		4/2027	19,958		19,878	19,858
Notorious Topco, LLC (dba Beauty Industry Group)(7)	First lien senior secured loan	S+	4.75%	2.50%	11/2027	230,859		229,046	191,613
Notorious Topco, LLC (dba Beauty Industry Group)(7)(18)	First lien senior secured revolving loan	S+	4.75%	2.50%	5/2027	1,408		1,378	511
The Shade Store, LLC(7)	First lien senior secured loan	S+	6.00%		10/2029	104,900		102,897	99,393

18

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)		Fair Value		% of Net Assets
		Ref. Rate	Cash	PIK
The Shade Store, LLC(7)	First lien senior secured loan	S+	7.00%		10/2029	13,829	13,655		13,380
The Shade Store, LLC(7)(18)	First lien senior secured revolving loan	S+	6.00%		10/2028	2,463	2,313		1,896
							504,483		463,956		2.9	%
Telecommunications
CCI BUYER, INC. (dba Consumer Cellular)(7)(20)(21)	First lien senior secured loan	S+	4.00%		12/2027	39,486	39,248		39,474
EOS Finco S.A.R.L(7)(21)(22)(25)(31)	First lien senior secured loan	S+	6.00%		10/2029	81,541	69,832		33,840
Level 3 Financing, Inc.(6)(21)(22)	First lien senior secured loan	S+	4.25%		3/2032	130,000	128,050		128,258
Park Place Technologies, LLC(7)	First lien senior secured loan	S+	5.25%		3/2031	85,745	84,980		85,316
Park Place Technologies, LLC(6)(18)	First lien senior secured delayed draw term loan	S+	5.25%		3/2031	6,930	6,838		6,895
Park Place Technologies, LLC(6)(18)	First lien senior secured revolving loan	S+	5.25%		3/2030	2,361	2,277		2,310
PPT Holdings III, LLC (dba Park Place Technologies)(17)	First lien senior secured loan	N/A		12.75%	3/2034	31,295	30,645		31,139
							361,870		327,232		2.0	%
Transportation
Lightbeam Bidco, Inc. (dba Lazer Spot)(7)(18)	First lien senior secured loan	S+	5.00%		5/2030	138,903	138,911		138,903
Lightbeam Bidco, Inc. (dba Lazer Spot)(7)(18)	First lien senior secured revolving loan	S+	5.00%		5/2029	3,116	3,036		3,116
Motus Group, LLC(7)(21)	First lien senior secured loan	S+	3.75%		12/2028	32,359	32,359		32,159
							174,306		174,178		1.1	%
Total non-controlled/non-affiliated debt investments							$	27,943,787	$	27,828,744	171.0	%
Total non-controlled/non-affiliated misc. debt commitments(18)(33)(Note 7)							$	(16,619)	$	(12,008)	(0.1)	%
Total non-controlled/non-affiliated portfolio company debt investments							$	27,927,168	$	27,816,736	171.0	%
Equity Investments
Asset based lending and fund finance
Amergin Asset Management, LLC(23)(25)	Class A Units	N/A			N/A	50,000,000	$	1	$	1,816
							1		1,816		—	%
Automotive
CD&R Value Building Partners I, L.P. (dba Belron)(22)(23)(25)(32)	LP Interest	N/A			N/A	36,993	35,967		41,607
Metis HoldCo, Inc. (dba Mavis Tire Express Services)(17)(23)	Series A Convertible Preferred Stock	N/A		7.00%	N/A	10,769	13,912		14,126
							49,879		55,733		0.3	%
Buildings and real estate
Dodge Construction Network Holdings, L.P.(23)(25)	Class A-2 Common Units	N/A			N/A	143,963	123		20
Dodge Construction Network Holdings, L.P.(7)(23)	Series A Preferred Units	S+	8.25%		N/A	—	3		2
							126		22		—	%
Business services
Denali Holding, LP (dba Summit Companies)(23)(25)	Class A Units	N/A			N/A	686,513	7,077		12,122
Hercules Buyer, LLC (dba The Vincit Group)(23)(25)(27)	Common Units	N/A			N/A	10,000	12		12
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.)(8)(23)	Perpetual Preferred Stock	S+		11.00%	N/A	33,768	46,323		46,828
							53,412		58,962		0.4	%
Consumer products
ASP Conair Holdings LP(23)(25)	Class A Units	N/A			N/A	9,286	929		1,069
							929		1,069		—	%
Containers and packaging
TCB Holdings I LLC (dba TricorBraun)(17)(23)	Class A Preferred Units	N/A	14.00%		N/A	87,500	84,879		84,875
							84,879		84,875		0.5	%

19

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)	Fair Value	% of Net Assets
		Ref. Rate	Cash	PIK
Financial services
Vestwell Holdings, Inc.(23)(25)	Series D Preferred Stock	N/A			N/A	50,726	1,007	1,000
							1,007	1,000	—	%
Food and beverage
Hissho Sushi Holdings, LLC(23)(25)	Class A Units	N/A			N/A	941,780	7,536	12,497
							7,536	12,497	0.1	%
Healthcare equipment and services
KPCI Holdings, L.P.(23)(25)	Class A Units	N/A			N/A	1,781	2,313	5,050
Maia Aggregator, LP(23)(25)	Class A-2 Units	N/A			N/A	12,921,348	12,921	11,687
Patriot Holdings SCSp (dba Corza Health, Inc.)(17)(22)(23)	Class A Units	N/A		8.00%	N/A	1,251	1,577	1,569
Patriot Holdings SCSp (dba Corza Health, Inc.)(22)(23)(25)	Class B Units	N/A			N/A	17,221	180	68
Rhea Acquisition Holdings, LP(23)(25)	Series A-2 Units	N/A			N/A	11,964,286	11,964	14,493
							28,955	32,867	0.2	%
Healthcare providers and services
KOBHG Holdings, L.P. (dba OB Hospitalist)(23)(25)	Class A Interests	N/A			N/A	3,520	3,520	3,220
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)(23)(25)	Class A Interest	N/A			N/A	1,205	12,048	14,700
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(23)(25)	Common Equity	N/A			N/A	1,329	3,500	3,500
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers)(17)(23)	Series A Preferred Stock	N/A		15.00%	N/A	27,355	32,435	30,158
XOMA Corporation(23)(25)	Warrants	N/A			N/A	54,000	369	381
							51,872	51,959	0.3	%
Healthcare technology
BEHP Co-Investor II, L.P.(22)(23)(25)	LP Interest	N/A			N/A	1,269,969	1,042	1,297
Minerva Holdco, Inc.(17)(23)	Senior A Preferred Stock	N/A		10.75%	N/A	100,000	138,560	135,419
Orange Blossom Parent, Inc.(23)(25)	Common Units	N/A			N/A	16,667	1,667	1,664
WP Irving Co-Invest, L.P.(22)(23)(25)	Partnership Units	N/A			N/A	1,250,000	948	1,276
							142,217	139,656	0.9	%
Household products
Walker Edison Holdco LLC(23)(25)	Common Units	N/A			N/A	29,167	2,818	—
							2,818	—	—	%
Human resource support services
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)(17)(23)	Series A Preferred Stock	N/A		10.50%	N/A	12,750	17,507	14,043
							17,507	14,043	0.1	%
Insurance
Accelerate Topco Holdings, LLC(23)(25)	Common Units	N/A			N/A	91,805	2,535	4,379
Evolution Parent, LP (dba SIAA)(23)(25)	LP Interest	N/A			N/A	2,703	270	333
GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway)(23)(25)	LP Interest	N/A			N/A	42,053	427	420
Hockey Parent Holdings, L.P.(23)(25)	Class A Common Units	N/A			N/A	25,000	25,000	27,932
KWOR Intermediate I, Inc. (dba Alacrity Solutions)(23)(25)	Class A-1 Common Stock	N/A			N/A	3,605	1,726	1,726
KWOR Intermediate I, Inc. (dba Alacrity Solutions)(7)(23)	Preferred Stock	S+		8.00%	N/A	3,856	3,857	3,856
PCF Holdco, LLC (dba PCF Insurance Services)(23)(25)	Class A Units	N/A			N/A	6,047,390	15,336	26,338
PCF Holdco, LLC (dba PCF Insurance Services)(23)(25)	Warrants	N/A			N/A	1,503,286	5,129	4,283
PCF Holdco, LLC (dba PCF Insurance Services)(17)(23)	Preferred equity	N/A		15.00%	N/A	25,866	18,902	25,413
							73,182	94,680	0.6	%

20

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)		Fair Value		% of Net Assets
		Ref. Rate	Cash	PIK
Internet software and services
AlphaSense, LLC(23)(25)	Series E Preferred Shares	N/A			N/A	16,929	765		800
BCTO WIW Holdings, Inc. (dba When I Work)(23)(25)	Class A Common Stock	N/A			N/A	57,000	5,700		2,948
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi)(23)(25)	Common Units	N/A			N/A	1,729,439	1,729		2,596
Chrome Investors LP(18)(22)(23)(25)	LP Interest	N/A			N/A	7,339	7,341		7,339
Elliott Alto Co-Investor Aggregator L.P.(22)(23)(25)	LP Interest	N/A			N/A	6,530	6,572		10,752
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC)(22)(23)(25)	LP Interest	N/A			N/A	989	989		1,239
Bird Holding B.V. (fka MessageBird Holding B.V.)(22)(23)(25)	Extended Series C Warrants	N/A			N/A	7,980	49		12
Project Alpine Co-Invest Fund, LP(22)(23)(25)	LP Interest	N/A			N/A	17,000	17,012		22,325
Project Hotel California Co-Invest Fund, L.P.(21)(22)(23)(25)	LP Interest	N/A			N/A	3,522	3,507		4,874
Thunder Topco L.P. (dba Vector Solutions)(23)(25)	Common Units	N/A			N/A	712,884	713		848
WMC Bidco, Inc. (dba West Monroe)(17)(23)	Senior Preferred Stock	N/A		11.25%	N/A	33,385	48,349		48,032
Zoro TopCo, Inc.(7)(23)	Series A Preferred Equity	S+		9.50%	N/A	16,562	21,735		22,236
Zoro TopCo, L.P.(23)(25)	Class A Common Units	N/A			N/A	1,380,129	13,801		15,491
							128,262		139,492		0.9	%
Manufacturing
Gloves Holdings, LP (dba Protective Industrial Products)(23)(25)	LP Interest	N/A			N/A	1,000	100		155
							100		155		—	%
Specialty retail
Ideal Topco, L.P.(23)(25)	Class A-2 Common Units	N/A			N/A	3,109,756	—		—
Ideal Topco, L.P.(23)(25)	Class A-1 Preferred Units	N/A			N/A	5,304,878	5,305		4,615
							5,305		4,615		—	%
Total non-controlled/non-affiliated portfolio company equity investments							$	647,987	$	693,441	4.3	%
Total non-controlled/non-affiliated portfolio company investments							$	28,575,155	$	28,510,177	175.2	%
Non-controlled/affiliated portfolio company investments
Debt Investments(5)
Education
Pluralsight, LLC(7)(29)	First lien senior secured loan	S+		7.50%	8/2029	1,267,000	$	1,267	$	1,267
Pluralsight, LLC(7)(29)	First lien senior secured loan	S+	3.00%	1.50%	8/2029	1,200,000	1,200		1,200
							2,467		2,467		—	%
Total non-controlled/affiliated portfolio company debt investments							$	2,467	$	2,467	—	%
Equity Investments
Education
Paradigmatic Holdco LLC (dba Pluralsight)(23)(25)(29)	Common stock	N/A			N/A	396,827	$	1,053	$	1,053
							1,053		1,053		—	%
Pharmaceuticals
LSI Financing 1 DAC(22)(23)(25)(29)	Preferred equity	N/A			N/A	4,778	4,828		4,690
							4,828		4,690		—	%
Total non-controlled/affiliated portfolio company equity investments							$	5,881	$	5,743	—	%
Total non-controlled/affiliated portfolio company investments							$	8,348	$	8,210	0.1	%

21

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Company(1)(2)(3)(19)(28)	Investment	Interest			Maturity Date	Par / Units	Amortized Cost(4)(24)		Fair Value		% of Net Assets
		Ref. Rate	Cash	PIK
Controlled/affiliated portfolio company investments
Debt Investments(5)
Asset based lending and fund finance
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(17)(22)(30)	First lien senior secured loan	N/A		12.00%	7/2030	47,354	$	47,354	$	47,354
AAM Series 2.1 Aviation Feeder, LLC(17)(22)(30)	First lien senior secured loan	N/A		12.00%	11/2030	56,908	56,908		56,908
							104,262		104,262		0.6	%
Total controlled/affiliated portfolio company debt investments							$	104,262	$	104,262	0.6	%
Equity Investments
Asset based lending and fund finance
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(18)(22)(23)(25)(30)	LLC Interest	N/A			N/A	26,517	$	26,557	$	35,099
AAM Series 2.1 Aviation Feeder, LLC(18)(22)(23)(25)(30)	LLC Interest	N/A			N/A	24,663	24,704		34,874
							51,261		69,973		0.4	%
Insurance
Fifth Season Investments LLC(23)(26)(30)	Class A Units	N/A			N/A	28	223,403		245,283
							223,403		245,283		1.5	%
Joint ventures
OCIC SLF LLC (fka Blue Owl Credit Income Senior Loan Fund LLC)(22)(23)(30)(32)	LLC Interest	N/A			N/A	314,800	314,808		292,255
Blue Owl Credit SLF LLC(22)(23)(30)(32)	LLC Interest	N/A			N/A	5,500	5,502		5,327
							320,310		297,582		1.8	%
Pharmaceuticals
LSI Financing LLC(18)(22)(23)(30)(32)	Common Equity	N/A			N/A	216,313	216,313		224,922
							216,313		224,922		1.4	%
Total controlled/affiliated portfolio company equity investments							$	811,287	$	837,760	5.1	%
Total controlled/affiliated portfolio company investments							$	915,549	$	942,022	5.8	%
Total Investments							$	29,499,052	$	29,460,409	181.1	%

	Interest Rate Swaps as of March 31, 2025
	Company Receives	Company Pays(c)	Maturity Date	Notional Amount		Fair Value		Upfront Payments/Receipts		Change in Unrealized Appreciation / (Depreciation)		Hedged Instrument	Footnote Reference
Interest rate swap(a)(b)	7.75%	S + 3.84%	9/16/2027	$	600,000	$	4,739	$	—	$	5,442	September 2027 Notes	Note 5
Cross-currency swap(a)(b)(e)	6.50%	S + 2.67%	10/23/2027	251,031		(17,246)		—		3,389		AUD 2027 Notes	Note 5
Interest rate swap(b)(d)	6.50%	B + 2.72%	10/23/2027	44,719		114		—		161		AUD 2027 Notes	Note 5
Interest rate swap(a)(b)	7.95%	S + 3.79%	5/13/2028	650,000		7,892		—		7,390		June 2028 Notes	Note 5
Interest rate swap(a)(b)	7.75%	S + 3.65%	1/15/2029	550,000		6,581		—		6,980		January 2029 Notes	Note 5
Interest rate swap(a)(b)	6.60%	S + 2.39%	8/15/2029	900,000		18,632		—		14,887		September 2029 Notes	Note 5
Interest rate swap(a)(b)	5.80%	S + 2.62%	2/15/2030	1,000,000		(24,315)		—		20,204		March 2030 Notes	Note 5
Interest rate swap(a)(b)	6.65%	S + 2.90%	1/15/2031	750,000		648		—		14,887		March 2031 Notes	Note 5
Total				$	4,745,750	$	(2,955)	$	—	$	73,340

________

(a) Contains a variable rate structure. Bears interest at a rate determined by SOFR.

(b) Instrument is used in a hedge accounting relationship. The associated change in fair value is recorded along with the change in fair value of the hedging item within interest expense.

(c) The Company has an International Swaps and Derivatives Association (“ISDA”) agreement with Goldman Sachs Bank USA.

(d) Contains a variable rate structure. Bears interest at a rate determined by BBSY.

22

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

(e) The associated change in foreign exchange rate of derivative is recorded along with the change in foreign exchange rate of the note within translation of assets and liabilities in foreign currencies.

(1)Certain portfolio company investments are subject to contractual restrictions on sales.

(2)Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.

(3)Unless otherwise indicated, all investments are considered Level 3 investments.

(4)The amortized cost represents the original cost adjusted for the amortization and accretion of premiums and discounts, as applicable, on debt investments using the effective interest method.

(5)Unless otherwise indicated, loan contains a variable rate structure, and may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the Secured Overnight Financing Rate (“SOFR” or “S”) (which can include one-, three-, six- or twelve-month SOFR), Euro Interbank Offered Rate (“EURIBOR” or “E”), Canadian Overnight Repo Rate Average (“CORRA” or “C”) (which can include one- or three-month CORRA), Australian Bank Bill Swap Bid Rate (“BBSY” or “B”) (which can include one-, three-, or six-month BBSY), Sterling (SP) Overnight Interbank Average Rate (“SONIA” or “SA”) or an alternate base rate (which can include the Federal Funds Effective Rate or the Prime Rate (“Prime” or “P”), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.

(6)The interest rate on these investments is subject to 1 month SOFR, which as of March 31, 2025 was 4.32%.

(7)The interest rate on these investments is subject to 3 month SOFR, which as of March 31, 2025 was 4.29%.

(8)The interest rate on these investments is subject to 6 month SOFR, which as of March 31, 2025 was 4.19%.

(9)The interest rate on these investments is subject to 12 month SOFR, which as of March 31, 2025 was 4.01%.

(10)The interest rate on these investments is subject to 3 month CORRA, which as of March 31, 2025 was 2.66%.

(11)The interest rate on these investments is subject to 1 month EURIBOR, which as of March 31, 2025 was 2.36%.

(12)The interest rate on these investments is subject to 3 month EURIBOR, which as of March 31, 2025 was 2.34%.

(13)The interest rate on these investments is subject to 6 month EURIBOR, which as of March 31, 2025 was 2.34%.

(14)The interest rate on these investments is subject to 3 month BBSY, which as of March 31, 2025 was 4.13%.

(15)The interest rate on these investments is subject to SONIA, which as of March 31, 2025 was 4.46%.

(16)The interest rate on these investments is subject to Prime, which as of March 31, 2025 was 7.50%.

(17)Investment does not contain a variable rate structure.

(18)Position or portion thereof is a partially unfunded debt or equity commitment. See Note 7 “Commitments and Contingencies”.

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment		Unfunded
					Commitment		Fair Value(33)
Non-controlled/non-affiliated - delayed draw debt commitments
ACR Group Borrower, LLC	First lien senior secured delayed draw term loan	5/2025	$	731	$	100	$	—
Aerosmith Bidco 1 Limited (dba Audiotonix)	First lien senior secured delayed draw term loan	7/2027	—		108,341		—
AI Titan Parent, Inc. (dba Prometheus Group)	First lien senior secured delayed draw term loan	9/2026	—		6,792		(34)
AlphaSense, Inc.	First lien senior secured delayed draw term loan	6/2029	—		716		(5)
AlphaSense, Inc.	First lien senior secured delayed draw term loan	12/2025	—		707		(5)
AmeriLife Holdings LLC	First lien senior secured delayed draw term loan	2/2027	—		34,240		(86)
AmeriLife Holdings LLC	First lien senior secured delayed draw term loan	6/2026	15,700		16,715		—
AmSpec Parent, LLC	First lien senior secured delayed draw term loan	12/2027	—		5,333		—
Appfire Technologies, LLC	First lien senior secured delayed draw term loan	12/2025	—		4,215		—
Appfire Technologies, LLC	First lien senior secured delayed draw term loan	6/2026	—		2,688		—
Aptean Acquiror, Inc. (dba Aptean)	First lien senior secured delayed draw term loan	1/2026	1,727		2,247		—
Aptean Acquiror, Inc. (dba Aptean)	First lien senior secured delayed draw term loan	7/2025	—		40,254		—
Aramsco, Inc.	First lien senior secured delayed draw term loan	10/2025	—		4,678		(316)
Arctic Holdco, LLC (dba Novvia Group)	First lien senior secured delayed draw term loan	1/2027	5,089		12,665		—
Artifact Bidco, Inc. (dba Avetta)	First lien senior secured delayed draw term loan	7/2027	—		3,793		—
Associations, Inc.	First lien senior secured delayed draw term loan	7/2028	7,860		23,792		—
Baker Tilly Advisory Group, LP	First lien senior secured delayed draw term loan	6/2026	—		14,940		(37)

23

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Unfunded
				Commitment	Fair Value(33)
Bamboo US BidCo LLC	First lien senior secured delayed draw term loan	11/2026	—	26,912	—
BCPE Osprey Buyer, Inc. (dba PartsSource)	First lien senior secured delayed draw term loan	10/2025	4,557	21,926	—
Belmont Buyer, Inc. (dba Valenz)	First lien senior secured delayed draw term loan	1/2026	—	11,083	—
BradyPLUS Holdings, LLC (f/k/a BradyIFS Holdings, LLC)	First lien senior secured delayed draw term loan	10/2025	1,107	4,049	—
Cambrex Corporation	First lien senior secured delayed draw term loan	3/2027	—	33,294	(166)
Capstone Acquisition Holdings, Inc.	First lien senior secured delayed draw term loan	8/2026	—	1,789	(2)
CHA Vision Holdings, Inc. (fka FR Vision Holdings, Inc.)	First lien senior secured delayed draw term loan	1/2026	6,190	8,530	—
Chrysaor Bidco s.à r.l. (dba AlterDomus)	First lien senior secured delayed draw term loan	5/2026	—	689	—
Citrin Cooperman Advisors LLC	First lien senior secured delayed draw term loan	3/2027	—	1,061	(3)
Cohnreznick Advisory LLC	First lien senior secured delayed draw term loan	3/2027	—	8,459	—
Clydesdale Acquisition Holdings, Inc. (dba Novolex)	First lien senior secured delayed draw term loan	12/2025	86	2,320	—
CMG HoldCo, LLC (dba Crete United)	First lien senior secured delayed draw term loan	10/2026	—	10,141	(51)
CMG HoldCo, LLC (dba Crete United)	First lien senior secured delayed draw term loan	11/2025	14,384	10,916	—
Computer Services, Inc. (dba CSI)	First lien senior secured delayed draw term loan	2/2026	—	25,566	—
CoreTrust Purchasing Group LLC	First lien senior secured delayed draw term loan	5/2026	—	23,639	—
Coupa Holdings, LLC	First lien senior secured delayed draw term loan	8/2025	—	2,174	—
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)	First lien senior secured delayed draw term loan	9/2025	—	7,612	—
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)	First lien senior secured delayed draw term loan	6/2026	—	4,478	—
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	First lien senior secured delayed draw term loan	8/2026	—	12,046	—
Databricks, Inc.	First lien senior secured delayed draw term loan	7/2026	—	16,531	—
DCG ACQUISITION CORP. (dba DuBois Chemical)	First lien senior secured delayed draw term loan	6/2026	—	15,899	—
Diamond Mezzanine 24 LLC (dba United Risk)	First lien senior secured delayed draw term loan	10/2026	—	24,700	—
Dresser Utility Solutions, LLC	First lien senior secured delayed draw term loan	9/2025	—	7,537	—
Denali BuyerCo, LLC (dba Summit Companies)	First lien senior secured delayed draw term loan	1/2027	15,182	55,309	—
DuraServ LLC	First lien senior secured delayed draw term loan	3/2027	2,842	69,582	—
EET Buyer, Inc. (dba e-Emphasys)	First lien senior secured delayed draw term loan	4/2026	—	8,523	—
EresearchTechnology, Inc. (dba Clario)	First lien senior secured delayed draw term loan	1/2027	1,666	31,659	—
EresearchTechnology, Inc. (dba Clario)	First lien senior secured delayed draw term loan	3/2026	—	29,326	(147)
Essential Services Holding Corporation (dba Turnpoint)	First lien senior secured delayed draw term loan	6/2026	—	6,970	(35)
Evolution BuyerCo, Inc. (dba SIAA)	First lien senior secured delayed draw term loan	12/2025	—	26,059	—
Faraday Buyer, LLC (dba MacLean Power Systems)	First lien senior secured delayed draw term loan	11/2025	—	14,307	—
FR Flow Control CB LLC (dba Trillium Flow Technologies)	First lien senior secured delayed draw term loan	6/2026	—	28,307	—
Fullsteam Operations, LLC	First lien senior secured delayed draw term loan	8/2025	2,674	2,326	—
Fullsteam Operations, LLC	First lien senior secured delayed draw term loan	2/2026	840	410	—
Galls, LLC	First lien senior secured delayed draw term loan	3/2026	11,970	27,258	—
Galway Borrower LLC	First lien senior secured delayed draw term loan	7/2026	2,812	46,920	—
Gehl Foods, LLC	First lien senior secured delayed draw term loan	12/2025	6,806	2,274	—
GI Apple Midco LLC (dba Atlas Technical Consultants)	First lien senior secured delayed draw term loan	4/2025	1,720	14,090	—
GS Acquisitionco, Inc. (dba insightsoftware)	First lien senior secured delayed draw term loan	3/2026	72	254	—

24

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Unfunded
				Commitment	Fair Value(33)
Home Service TopCo IV, Inc.	First lien senior secured delayed draw term loan	2/2027	—	2,799	—
Indigo Buyer, Inc. (dba Inovar Packaging Group)	First lien senior secured delayed draw term loan	7/2026	1,075	12,359	—
Indikami Bidco, LLC (dba IntegriChain)	First lien senior secured delayed draw term loan	12/2025	751	5,819	—
Integrity Marketing Acquisition, LLC	First lien senior secured delayed draw term loan	8/2026	—	53,446	—
Interoperability Bidco, Inc. (dba Lyniate)	First lien senior secured delayed draw term loan	6/2026	—	5,079	(102)
Integrated Specialty Coverages, LLC	First lien senior secured delayed draw term loan	2/2027	—	6,577	—
KENE Acquisition, Inc. (dba Entrust Solutions Group)	First lien senior secured delayed draw term loan	2/2026	775	6,695	—
KPSKY Acquisition, Inc. (dba BluSky)	First lien senior secured delayed draw term loan	11/2025	72	6,054	—
KWOR Acquisition, Inc. (dba Alacrity Solutions)	First lien senior secured delayed draw term loan	2/2027	—	3,857	(19)
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)	First lien senior secured delayed draw term loan	9/2026	4,213	47,386	—
Lightbeam Bidco, Inc. (dba Lazer Spot)	First lien senior secured delayed draw term loan	5/2025	19,558	27,285	—
Litera Bidco LLC	First lien senior secured delayed draw term loan	11/2026	8,763	767	—
Litera Bidco LLC	First lien senior secured delayed draw term loan	5/2027	—	3,981	(10)
ManTech International Corporation	First lien senior secured delayed draw term loan	6/2025	—	2,164	—
Maple Acquisition, LLC (dba Medicus)	First lien senior secured delayed draw term loan	5/2026	—	20,448	—
Mario Purchaser, LLC (dba Len the Plumber)	First lien senior secured delayed draw term loan	10/2025	2,653	24,114	—
Minotaur Acquisition, Inc. (dba Inspira Financial)	First lien senior secured delayed draw term loan	5/2026	—	41,960	—
Monotype Imaging Holdings Inc.	First lien senior secured delayed draw term loan	2/2026	3,252	10,759	—
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.	First lien senior secured EUR delayed draw term loan	3/2027	—	23,316	(291)
Nelipak Holding Company	First lien senior secured delayed draw term loan	3/2027	—	11,787	(147)
OneOncology, LLC	First lien senior secured delayed draw term loan	10/2026	44,679	26,576	—
OneOncology, LLC	First lien senior secured delayed draw term loan	3/2027	—	121,354	(303)
Packaging Coordinators Midco, Inc.	First lien senior secured delayed draw term loan	4/2026	—	236,996	(1,778)
Paris US Holdco, Inc. (dba Precinmac)	First lien senior secured delayed draw term loan	12/2026	—	18,063	(90)
Park Place Technologies, LLC	First lien senior secured delayed draw term loan	9/2025	6,930	6,543	—
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)	First lien senior secured delayed draw term loan	8/2025	13,680	3,429	—
PDI TA Holdings, Inc.	First lien senior secured delayed draw term loan	2/2026	—	6,584	(66)
PetVet Care Centers, LLC	First lien senior secured delayed draw term loan	11/2025	—	31,691	(1,426)
Pye-Barker Fire & Safety, LLC	First lien senior secured delayed draw term loan	5/2026	64,313	95,287	—
Raven Acquisition Holdings, LLC (dba R1 RCM)	First lien senior secured delayed draw term loan	10/2026	—	5,667	(45)
RL Datix Holdings (USA), Inc.	First lien senior secured delayed draw term loan	4/2027	—	14,908	—
Savor Acquisition, Inc. (dba Sauer Brands)	First lien senior secured delayed draw term loan	3/2027	—	7,759	(2)
Salinger Bidco Inc. (dba Surgical Information Systems)	First lien senior secured delayed draw term loan	8/2026	—	5,742	—
Sensor Technology Topco, Inc. (dba Humanetics)	First lien senior secured EUR delayed draw term loan	9/2025	449	600	—
Sensor Technology Topco, Inc. (dba Humanetics)	First lien senior secured delayed draw term loan	9/2025	2,046	2,732	—
Severin Acquisition, LLC (dba PowerSchool)	First lien senior secured delayed draw term loan	10/2027	1,836	25,370	—
SimonMed, Inc.	First lien senior secured delayed draw term loan	2/2027	5,745	40,288	—
Simplicity Financial Marketing Group Holdings, Inc.	First lien senior secured delayed draw term loan	12/2026	6,438	33,800	—
Smarsh Inc.	First lien senior secured delayed draw term loan	1/2027	—	10,381	—
Smarsh Inc.	First lien senior secured delayed draw term loan	1/2027	—	9,966	—

25

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Unfunded
				Commitment	Fair Value(33)
Soleo Holdings, Inc.	First lien senior secured delayed draw term loan	2/2027	—	15,932	(40)
Sonny's Enterprises, LLC	First lien senior secured delayed draw term loan	6/2026	3,583	41,416	—
Southern Air & Heat Holdings, LLC	First lien senior secured delayed draw term loan	7/2025	10,499	20,889	—
Spaceship Purchaser, Inc. (dba Squarespace)	First lien senior secured delayed draw term loan	10/2026	—	7,482	—
Spaceship Purchaser, Inc. (dba Squarespace)	First lien senior secured delayed draw term loan	10/2027	—	17,957	—
STS PARENT, LLC (dba STS Aviation Group)	First lien senior secured delayed draw term loan	10/2026	—	37,550	—
TBRS, Inc. (dba TEAM Technologies)	First lien senior secured delayed draw term loan	11/2026	—	37,652	—
THG Acquisition, LLC (dba Hilb)	First lien senior secured delayed draw term loan	10/2026	367	20,349	—
Thunder Purchaser, Inc. (dba Vector Solutions)	First lien senior secured delayed draw term loan	10/2026	20,523	6,858	—
Troon Golf, L.L.C.	First lien senior secured delayed draw term loan	9/2026	27,381	27,449	—
Tricentis Operations Holdings, Inc.	First lien senior secured delayed draw term loan	2/2027	—	10,055	(50)
Unified Women's Healthcare, LP	First lien senior secured delayed draw term loan	10/2026	20,249	33,151	—
USIC Holdings, Inc.	First lien senior secured delayed draw term loan	9/2026	494	1,741	—
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners)	First lien senior secured delayed draw term loan	8/2026	258	13,712	—
Vensure Employer Services, Inc.	First lien senior secured delayed draw term loan	9/2026	452	32,826	—
Vessco Midco Holdings, LLC	First lien senior secured delayed draw term loan	7/2026	6,290	17,595	—
Walker Edison Furniture Company LLC	First lien senior secured delayed draw term loan	3/2027	174	244	—
Zendesk, Inc.	First lien senior secured delayed draw term loan	11/2025	—	35,425	—
Non-controlled/affiliated - delayed draw debt commitments
Pluralsight, LLC	First lien senior secured delayed draw term loan	8/2029	—	496	—
Non-controlled/non-affiliated - revolving debt commitments
ACR Group Borrower, LLC	First lien senior secured revolving loan	3/2026	25	850	—
Activate Holdings (US) Corp. (dba Absolute Software)	First lien senior secured revolving loan	7/2029	—	352	—
Aerosmith Bidco 1 Limited (dba Audiotonix)	First lien senior secured revolving loan	7/2030	—	44,919	—
AI Titan Parent, Inc. (dba Prometheus Group)	First lien senior secured revolving loan	8/2031	—	4,245	(42)
AmeriLife Holdings LLC	First lien senior secured revolving loan	8/2028	—	33,393	(167)
Anaplan, Inc.	First lien senior secured revolving loan	6/2028	—	16,528	—
Appfire Technologies, LLC	First lien senior secured revolving loan	3/2028	—	1,633	—
Aptean Acquiror, Inc. (dba Aptean)	First lien senior secured revolving loan	1/2031	—	8,497	—
Arctic Holdco, LLC (dba Novvia Group)	First lien senior secured revolving loan	1/2031	5,681	6,155	—
Artifact Bidco, Inc. (dba Avetta)	First lien senior secured revolving loan	7/2030	—	2,710	(14)
Ascend Buyer, LLC (dba PPC Flexible Packaging)	First lien senior secured revolving loan	9/2028	—	8,187	—
Associations, Inc.	First lien senior secured revolving loan	7/2028	18,788	6,601	—
AWP Group Holdings, Inc.	First lien senior secured revolving loan	12/2030	1,161	4,644	—
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)	First lien senior secured revolving loan	3/2031	—	1,995	(15)
Baker Tilly Advisory Group, LP	First lien senior secured revolving loan	6/2030	—	20,935	(209)
Bamboo US BidCo LLC	First lien senior secured revolving loan	10/2029	—	20,128	—
Bayshore Intermediate #2, L.P. (dba Boomi)	First lien senior secured revolving loan	10/2027	—	18,336	—
BCPE Osprey Buyer, Inc. (dba PartsSource)	First lien senior secured revolving loan	8/2026	4,293	362	—
BCPE Pequod Buyer, Inc. (dba Envestnet)	First lien senior secured revolving loan	11/2029	—	16,634	(250)
BCTO BSI Buyer, Inc. (dba Buildertrend)	First lien senior secured revolving loan	12/2026	—	161	—
Belmont Buyer, Inc. (dba Valenz)	First lien senior secured revolving loan	6/2029	2,217	4,433	—

26

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Unfunded
				Commitment	Fair Value(33)
Blast Bidco Inc. (dba Bazooka Candy Brands)	First lien senior secured revolving loan	10/2029	—	4,179	—
Brightway Holdings, LLC	First lien senior secured revolving loan	12/2027	590	1,515	—
BTRS Holdings Inc. (dba Billtrust)	First lien senior secured revolving loan	12/2028	2,531	2,531	—
Cambrex Corporation	First lien senior secured revolving loan	3/2032	—	29,133	(291)
Canadian Hospital Specialties Limited	First lien senior secured revolving loan	4/2027	254	158	—
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)	First lien senior secured revolving loan	8/2027	303	577	—
Certinia Inc.	First lien senior secured revolving loan	8/2030	—	4,412	—
CHA Vision Holdings, Inc. (fka FR Vision Holdings, Inc.)	First lien senior secured revolving loan	1/2030	—	3,692	—
CivicPlus, LLC	First lien senior secured revolving loan	8/2027	—	2,244	—
CMG HoldCo, LLC (dba Crete United)	First lien senior secured revolving loan	5/2028	2,344	6,310	—
CoreTrust Purchasing Group LLC	First lien senior secured revolving loan	10/2029	—	14,183	—
Coupa Holdings, LLC	First lien senior secured revolving loan	2/2029	—	1,664	—
CPM Holdings, Inc.	First lien senior secured revolving loan	6/2028	—	5,000	(93)
Creek Parent, Inc. (dba Catalent)	First lien senior secured revolving loan	12/2031	—	42,297	(211)
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)	First lien senior secured revolving loan	6/2029	—	2,239	—
Crewline Buyer, Inc. (dba New Relic)	First lien senior secured revolving loan	11/2030	—	17,226	(172)
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	First lien senior secured revolving loan	8/2031	—	30,115	—
D4C Dental Brands, Inc.	First lien senior secured revolving loan	11/2029	—	13,102	(131)
DCG ACQUISITION CORP. (dba DuBois Chemical)	First lien senior secured revolving loan	6/2031	—	15,899	(79)
Denali BuyerCo, LLC (dba Summit Companies)	First lien senior secured revolving loan	9/2027	—	9,963	(25)
Diamond Mezzanine 24 LLC (dba United Risk)	First lien senior secured revolving loan	10/2030	—	6,175	—
Disco Parent, Inc. (dba Duck Creek Technologies, Inc.)	First lien senior secured revolving loan	3/2029	—	91	(1)
Dresser Utility Solutions, LLC	First lien senior secured revolving loan	3/2029	—	10,552	(26)
DuraServ LLC	First lien senior secured revolving loan	6/2030	—	24,256	(121)
Eagle Family Foods Group LLC	First lien senior secured revolving loan	8/2030	—	20,344	—
EET Buyer, Inc. (dba e-Emphasys)	First lien senior secured revolving loan	11/2027	—	3,387	—
Einstein Parent, Inc. (dba Smartsheet)	First lien senior secured revolving loan	1/2031	—	7,949	(79)
Entrata, Inc.	First lien senior secured revolving loan	7/2028	—	513	—
Essential Services Holding Corporation (dba Turnpoint)	First lien senior secured revolving loan	6/2030	697	3,660	—
EresearchTechnology, Inc. (dba Clario)	First lien senior secured revolving loan	10/2031	—	16,663	(167)
Evolution BuyerCo, Inc. (dba SIAA)	First lien senior secured revolving loan	4/2030	—	12,968	—
Fiesta Purchaser, Inc. (dba Shearer's Foods)	First lien senior secured revolving loan	2/2029	—	16,615	(42)
Finastra USA, Inc.	First lien senior secured revolving loan	9/2029	4,298	12,794	—
Forescout Technologies, Inc.	First lien senior secured revolving loan	5/2030	—	1,320	(7)
Formerra, LLC	First lien senior secured revolving loan	11/2028	—	526	(8)
Fortis Solutions Group, LLC	First lien senior secured revolving loan	10/2027	3,036	3,711	—
Foundation Consumer Brands, LLC	First lien senior secured revolving loan	2/2029	—	3,411	(34)
FR Flow Control CB LLC (dba Trillium Flow Technologies)	First lien senior secured revolving loan	12/2029	—	23,160	(174)
Fullsteam Operations, LLC	First lien senior secured revolving loan	11/2029	—	500	—
Galls, LLC	First lien senior secured revolving loan	3/2030	3,139	12,558	—
Galway Borrower LLC	First lien senior secured revolving loan	9/2028	2,049	4,217	—
Gaylord Chemical Company, L.L.C.	First lien senior secured revolving loan	12/2027	2,066	1,907	—

27

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Unfunded
				Commitment	Fair Value(33)
Gerson Lehrman Group, Inc.	First lien senior secured revolving loan	12/2027	—	8,404	—
GI Apple Midco LLC (dba Atlas Technical Consultants)	First lien senior secured revolving loan	4/2029	6,333	4,749	—
GI Ranger Intermediate, LLC (dba Rectangle Health)	First lien senior secured revolving loan	10/2027	—	1,673	(33)
Granicus, Inc.	First lien senior secured revolving loan	1/2031	—	4,633	—
GS Acquisitionco, Inc. (dba insightsoftware)	First lien senior secured revolving loan	5/2028	—	247	(2)
Hercules Borrower, LLC (dba The Vincit Group)	First lien senior secured revolving loan	12/2026	—	96	—
Hissho Parent, LLC	First lien senior secured revolving loan	5/2029	—	11,009	—
Home Service TopCo IV, Inc.	First lien senior secured revolving loan	12/2027	—	3,359	—
Hyland Software, Inc.	First lien senior secured revolving loan	9/2029	—	6,978	—
Icefall Parent, Inc. (dba EngageSmart)	First lien senior secured revolving loan	1/2030	—	2,749	—
Ideal Image Development, LLC	First lien senior secured revolving loan	2/2029	732	183	—
Ideal Image Development, LLC	First lien senior secured revolving loan	2/2029	953	145	—
Ideal Image Development, LLC*	First lien senior secured revolving loan	2/2029	80	—	—
Ideal Tridon Holdings, Inc.	First lien senior secured revolving loan	4/2028	—	8,630	—
IG Investments Holdings, LLC (dba Insight Global)	First lien senior secured revolving loan	9/2028	—	4,866	—
Indigo Buyer, Inc. (dba Inovar Packaging Group)	First lien senior secured revolving loan	5/2028	—	12,700	—
Indikami Bidco, LLC (dba IntegriChain)	First lien senior secured revolving loan	6/2030	2,628	2,065	—
Integrated Specialty Coverages, LLC	First lien senior secured revolving loan	7/2029	—	5,934	—
Integrity Marketing Acquisition, LLC	First lien senior secured revolving loan	8/2028	—	17,886	—
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)*	First lien senior secured revolving loan	8/2026	2,049	—	—
Interoperability Bidco, Inc. (dba Lyniate)	First lien senior secured revolving loan	3/2028	1,324	4,694	—
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))	First lien senior secured revolving loan	12/2027	1,598	12,669	—
JS Parent, Inc. (dba Jama Software)	First lien senior secured revolving loan	4/2031	—	88	—
KABAFUSION Parent, LLC	First lien senior secured revolving loan	11/2031	—	8,903	(22)
KENE Acquisition, Inc. (dba Entrust Solutions Group)	First lien senior secured revolving loan	2/2031	—	2,242	(28)
KRIV Acquisition Inc. (dba Riveron)	First lien senior secured revolving loan	7/2029	—	10,944	—
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)	First lien senior secured revolving loan	12/2029	—	23,755	—
KWOR Acquisition, Inc. (dba Alacrity Solutions)	First lien senior secured revolving loan	2/2030	—	2,877	(14)
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)	First lien senior secured revolving loan	9/2029	—	8,600	(43)
Lightbeam Bidco, Inc. (dba Lazer Spot)	First lien senior secured revolving loan	5/2029	3,116	8,569	—
Lignetics Investment Corp.	First lien senior secured revolving loan	10/2026	7,647	3,824	—
Litera Bidco LLC	First lien senior secured revolving loan	5/2028	—	2,266	(6)
Magnet Forensics, LLC (f/k/a Grayshift, LLC)	First lien senior secured revolving loan	7/2028	—	2,419	—
ManTech International Corporation	First lien senior secured revolving loan	9/2028	—	1,806	—
Maple Acquisition, LLC (dba Medicus)	First lien senior secured revolving loan	5/2030	—	15,336	—
Mario Purchaser, LLC (dba Len the Plumber)	First lien senior secured revolving loan	4/2028	2,947	5,091	—
MHE Intermediate Holdings, LLC (dba OnPoint Group)	First lien senior secured revolving loan	7/2027	1,429	2,143	—
Milan Laser Holdings LLC	First lien senior secured revolving loan	4/2026	—	2,553	(13)
Ministry Brands Holdings, LLC	First lien senior secured revolving loan	12/2027	—	4,746	(36)

28

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Unfunded
				Commitment	Fair Value(33)
Minotaur Acquisition, Inc. (dba Inspira Financial)	First lien senior secured revolving loan	6/2030	—	25,814	—
Mitnick Corporate Purchaser, Inc.	First lien senior secured revolving loan	5/2027	1,125	8,250	—
Monotype Imaging Holdings Inc.	First lien senior secured revolving loan	2/2030	—	21,041	—
Natural Partners, LLC	First lien senior secured revolving loan	11/2027	—	11,814	—
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.	First lien senior secured EUR revolving loan	3/2031	760	3,590	—
Nelipak Holding Company	First lien senior secured revolving loan	3/2031	4,398	4,398	—
Neptune Holdings, Inc. (dba NexTech)	First lien senior secured revolving loan	8/2029	—	4,118	—
NMI Acquisitionco, Inc. (dba Network Merchants)	First lien senior secured revolving loan	9/2028	—	558	—
Notorious Topco, LLC (dba Beauty Industry Group)	First lien senior secured revolving loan	5/2027	1,408	3,873	—
OAC Holdings I Corp. (dba Omega Holdings)	First lien senior secured revolving loan	3/2028	919	1,654	—
OB Hospitalist Group, Inc.	First lien senior secured revolving loan	9/2027	—	7,993	—
Ole Smoky Distillery, LLC	First lien senior secured revolving loan	3/2028	—	3,302	(25)
OneOncology, LLC	First lien senior secured revolving loan	6/2029	—	41,243	(206)
Oranje Holdco, Inc. (dba KnowBe4)	First lien senior secured revolving loan	2/2029	—	10,148	—
Packaging Coordinators Midco, Inc.	First lien senior secured revolving loan	1/2032	—	44,948	(618)
Paris US Holdco, Inc. (dba Precinmac)	First lien senior secured revolving loan	12/2031	90	8,941	—
Park Place Technologies, LLC	First lien senior secured revolving loan	3/2030	2,361	7,757	—
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)	First lien senior secured revolving loan	1/2028	47	41	—
PDI TA Holdings, Inc.	First lien senior secured revolving loan	2/2031	875	5,685	—
Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services)	First lien senior secured revolving loan	11/2027	—	2,570	—
PetVet Care Centers, LLC	First lien senior secured revolving loan	11/2029	—	33,258	(1,829)
Phantom Purchaser, Inc.	First lien senior secured revolving loan	9/2031	—	11,437	(29)
Ping Identity Holding Corp.	First lien senior secured revolving loan	10/2028	—	6,597	—
Plasma Buyer LLC (dba PathGroup)	First lien senior secured revolving loan	5/2028	10,116	2,066	—
PPV Intermediate Holdings, LLC	First lien senior secured revolving loan	8/2029	—	11,854	—
Premise Health Holding Corp.	First lien senior secured revolving loan	2/2030	—	8,191	(20)
Pye-Barker Fire & Safety, LLC	First lien senior secured revolving loan	5/2030	4,213	29,489	—
Puma Buyer, LLC (dba PANTHERx)	First lien senior secured revolving loan	3/2032	—	21,023	(158)
QAD, Inc.	First lien senior secured revolving loan	11/2027	—	6,000	(15)
Quva Pharma, Inc.*	First lien senior secured revolving loan	4/2026	455	—	—
Relativity ODA LLC	First lien senior secured revolving loan	5/2029	—	2,797	(7)
Rhea Parent, Inc.	First lien senior secured revolving loan	12/2030	—	21,596	(54)
RL Datix Holdings (USA), Inc.	First lien senior secured revolving loan	10/2030	—	13,052	(98)
SailPoint Technologies Holdings, Inc.	First lien senior secured revolving loan	8/2028	—	5,718	—
Salinger Bidco Inc. (dba Surgical Information Systems)	First lien senior secured revolving loan	5/2031	—	5,742	—
Soleo Holdings, Inc.	First lien senior secured revolving loan	2/2032	—	15,932	(80)
Securonix, Inc.	First lien senior secured revolving loan	4/2028	120	5,219	—
Sensor Technology Topco, Inc. (dba Humanetics)	First lien senior secured revolving loan	5/2028	10,114	10,448	—
Severin Acquisition, LLC (dba PowerSchool)	First lien senior secured revolving loan	10/2031	2,449	13,877	—
SimonMed, Inc.	First lien senior secured revolving loan	2/2031	—	30,689	(153)
Simplicity Financial Marketing Group Holdings, Inc.	First lien senior secured revolving loan	12/2031	—	20,119	(201)
Smarsh Inc.	First lien senior secured revolving loan	2/2029	1,439	9,357	—

29

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Commitment Type	Commitment Expiration Date	Funded Commitment		Unfunded
					Commitment		Fair Value(33)
Soliant Lower Intermediate, LLC (dba Soliant)	First lien senior secured revolving loan	6/2031	—		15,556		(330)
Sonny's Enterprises, LLC	First lien senior secured revolving loan	8/2027	15,023		10,879		—
Southern Air & Heat Holdings, LLC	First lien senior secured revolving loan	10/2027	62		220		—
Spaceship Purchaser, Inc. (dba Squarespace)	First lien senior secured revolving loan	10/2031	—		14,965		—
Spotless Brands, LLC	First lien senior secured revolving loan	7/2028	—		2,244		—
STS PARENT, LLC (dba STS Aviation Group)	First lien senior secured revolving loan	10/2030	8,824		6,196		—
SWK BUYER, Inc. (dba Stonewall Kitchen)	First lien senior secured revolving loan	3/2029	—		5,579		(98)
Tamarack Intermediate, L.L.C. (dba Verisk 3E)	First lien senior secured revolving loan	3/2028	—		5,336		(27)
TBRS, Inc. (dba TEAM Technologies)	First lien senior secured revolving loan	11/2030	1,255		19,662		—
TC Holdings, LLC (dba TrialCard)	First lien senior secured revolving loan	4/2027	—		16,473		—
Tempo Buyer Corp. (dba Global Claims Services)	First lien senior secured revolving loan	8/2027	—		5,159		—
The Shade Store, LLC	First lien senior secured revolving loan	10/2028	2,463		8,339		—
THG Acquisition, LLC (dba Hilb)	First lien senior secured revolving loan	10/2031	474		9,884		—
Thunder Purchaser, Inc. (dba Vector Solutions)	First lien senior secured revolving loan	6/2027	—		1,021		—
Tricentis Operations Holdings, Inc.	First lien senior secured revolving loan	2/2032	—		6,284		(63)
Troon Golf, L.L.C.	First lien senior secured revolving loan	8/2028	—		27,449		—
Truist Insurance Holdings, LLC	First lien senior secured revolving loan	5/2029	896		6,123		—
Unified Women's Healthcare, LP	First lien senior secured revolving loan	6/2029	—		8,120		—
USIC Holdings, Inc.	First lien senior secured revolving loan	9/2031	2,621		2,207		—
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners)	First lien senior secured revolving loan	12/2029	—		4,975		—
Velocity HoldCo III Inc. (dba VelocityEHS)	First lien senior secured revolving loan	4/2027	—		142		—
Vessco Midco Holdings, LLC	First lien senior secured revolving loan	7/2031	—		7,962		(40)
Vital Bidco AB (dba Vitamin Well)	First lien senior secured revolving loan	10/2030	12,908		40,004		—
Walker Edison Furniture Company LLC*	First lien senior secured revolving loan	3/2027	1,333		—		—
When I Work, Inc.	First lien senior secured revolving loan	11/2027	—		4,164		(146)
Zendesk, Inc.	First lien senior secured revolving loan	11/2028	—		14,587		—
Non-controlled/affiliated - revolving debt commitments
Pluralsight, LLC	First lien senior secured revolving loan	8/2029	—		198		—
Non-controlled/non-affiliated - equity commitments
Chrome Investors LP	LP Interest	N/A	7,339		1,835		—
Controlled/affiliated - equity commitments
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC	LLC Interest	N/A	26,517		56,604		—
AAM Series 2.1 Aviation Feeder, LLC	LLC Interest	N/A	24,663		16,166		—
LSI Financing LLC	Common Equity	N/A	216,313		4,500		—
Total Portfolio Company Commitments			$	827,401	$	3,986,585	$	(12,008)

*Fully funded

(19)Unless otherwise indicated, represents a co-investment made with the Company’s affiliates in accordance with the terms of exemptive relief that the Company received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions”.

(20)This portfolio company was not a co-investment made with the Company’s affiliates in accordance with the terms of exemptive relief that the Company received from the U.S. Securities and Exchange Commission.

(21)Level 2 Investment.

(22)This portfolio company is not a qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets

30

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

represent at least 70% of total assets. As of March 31, 2025, non-qualifying assets represented 12.4% of total assets as calculated in accordance with the regulatory requirements.

(23)Security acquired in transaction exempt from registration under the Securities Act of 1933, and may be deemed to be “restricted security” under the Securities Act. As of March 31, 2025, the aggregate fair value of these securities is $1.54 billion, or 9.5% of the Company’s net assets. The acquisition dates of the restricted securities are as follows:

Portfolio Company	Investment	Acquisition Date
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC**	LLC Interest	July 1, 2022
AAM Series 2.1 Aviation Feeder, LLC**	LLC Interest	July 1, 2022
Accelerate Topco Holdings, LLC	Common Units	September 1, 2022
Amergin Asset Management, LLC	Class A Units	July 1, 2022
ASP Conair Holdings LP	Class A Units	May 17, 2021
AlphaSense, LLC	Series E Preferred Shares	June 27, 2024
BCTO WIW Holdings, Inc. (dba When I Work)	Class A Common Stock	November 2, 2021
BEHP Co-Investor II, L.P.	LP Interest	May 6, 2022
Blue Owl Credit SLF LLC*	LLC Interest	May 6, 2024
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi)	Common Units	October 1, 2021
CD&R Value Building Partners I, L.P. (dba Belron)	LP Interest	December 2, 2021
Chrome Investors LP	LP Interest	January 25, 2025
Denali Holding, LP (dba Summit Companies)	Class A Units	September 14, 2021
Dodge Construction Network Holdings, L.P.	Class A-2 Common Units	March 16, 2022
Dodge Construction Network Holdings, L.P.	Series A Preferred Units	March 16, 2022
Elliott Alto Co-Investor Aggregator L.P.	LP Interest	September 28, 2022
Evolution Parent, LP (dba SIAA)	LP Interest	April 30, 2021
Fifth Season Investments LLC**	Class A Units	October 17, 2022
Gloves Holdings, LP (dba Protective Industrial Products)	LP Interest	December 28, 2020
GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway)	LP Interest	December 16, 2021
Hercules Buyer, LLC (dba The Vincit Group)	Common Units	December 15, 2020
Hissho Sushi Holdings, LLC	Class A Units	May 17, 2022
Hockey Parent Holdings, L.P.	Class A Common Units	September 14, 2023
Ideal Topco, L.P.	Class A-1 Preferred Units	February 20, 2024
Ideal Topco, L.P.	Class A-2 Common Units	February 20, 2024
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC)	LP Interest	June 8, 2022
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.)	Perpetual Preferred Stock	June 22, 2022
KWOR Intermediate I, Inc. (dba Alacrity Solutions)	Preferred Stock	February 28, 2025
KWOR Intermediate I, Inc. (dba Alacrity Solutions)	Class A-1 Common Stock	February 28, 2025
KOBHG Holdings, L.P. (dba OB Hospitalist)	Class A Interests	September 27, 2021
KPCI Holdings, L.P.	Class A Units	November 25, 2020
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)	Class A Interest	December 12, 2023
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)	Common Equity	January 8, 2025
LSI Financing 1 DAC**	Preferred equity	December 14, 2022
LSI Financing LLC**	Common Equity	November 25, 2024
Maia Aggregator, LP	Class A-2 Units	February 1, 2022
Bird Holding B.V. (fka MessageBird Holding B.V.)	Extended Series C Warrants	May 5, 2021
Metis HoldCo, Inc. (dba Mavis Tire Express Services)	Series A Convertible Preferred Stock	May 3, 2021
Minerva Holdco, Inc.	Senior A Preferred Stock	February 14, 2022
Orange Blossom Parent, Inc.	Common Units	July 29, 2022
OCIC SLF LLC (fka Blue Owl Credit Income Senior Loan Fund LLC)*	LLC Interest	November 2, 2022
Patriot Holdings SCSp (dba Corza Health, Inc.)	Class A Units	January 29, 2021

31

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company	Investment	Acquisition Date
Patriot Holdings SCSp (dba Corza Health, Inc.)	Class B Units	January 29, 2021
PCF Holdco, LLC (dba PCF Insurance Services)	Preferred equity	February 16, 2023
PCF Holdco, LLC (dba PCF Insurance Services)	Class A Units	November 1, 2021
PCF Holdco, LLC (dba PCF Insurance Services)	Warrants	February 16, 2023
Paradigmatic Holdco LLC (dba Pluralsight)	Common stock	August 22, 2024
Project Alpine Co-Invest Fund, LP	LP Interest	June 13, 2022
Project Hotel California Co-Invest Fund, L.P.	LP Interest	August 9, 2022
Rhea Acquisition Holdings, LP	Series A-2 Units	February 18, 2022
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers)	Series A Preferred Stock	November 15, 2023
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)	Series A Preferred Stock	October 14, 2021
TCB Holdings I LLC (dba TricorBraun)	Class A Preferred Units	January 31, 2025
Thunder Topco L.P. (dba Vector Solutions)	Common Units	June 30, 2021
Vestwell Holdings, Inc.	Series D Preferred Stock	December 20, 2023
Walker Edison Holdco LLC	Common Units	March 1, 2023
WMC Bidco, Inc. (dba West Monroe)	Senior Preferred Stock	November 9, 2021
WP Irving Co-Invest, L.P.	Partnership Units	May 18, 2022
XOMA Corporation	Warrants	December 15, 2023
Zoro TopCo, L.P.	Class A Common Units	November 22, 2022
Zoro TopCo, Inc.	Series A Preferred Equity	November 22, 2022

*Refer to Note 4 “Investments - OCIC SLF LLC”, for further information.

** Refer to Note 3 “Agreements and Related Party Transactions - Controlled/Affiliated Portfolio Companies”.

(24)As of March 31, 2025, the net estimated unrealized loss on investments for U.S. federal income tax purposes was $23.1 million based on a tax cost basis of $29.5 billion. As of March 31, 2025, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $267.2 million. As of March 31, 2025, the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $244.1 million.

(25)Investment is non-income producing.

(26)Investment is not pledged as collateral under the Company’s Amended and Restated Senior Secured Revolving Credit Agreement (the “Revolving Credit Facility”, credit facilities to which certain of our subsidiaries are parties (the “SPV Asset Facilities”) and collateral loan obligation transactions (“CLOs”).

(27)We invest in this portfolio company through underlying blocker entities Hercules Blocker 1 LLC, Hercules Blocker 2 LLC, Hercules Blocker 3 LLC, Hercules Blocker 4 LLC, and Hercules Blocker 5 LLC.

(28)Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facilities and CLOs. See Note 5 “Debt”.

(29)As defined in the 1940 Act, the Company is deemed to be an “affiliated person” of this portfolio company as the Company owns more than 5% but less than 25% of the portfolio company’s voting securities (“non-controlled affiliate”). Transactions related to investments in non-controlled affiliates for the period ended March 31, 2025 were as follows:

Company	Fair value as of December 31, 2024		Gross Additions(a)		Gross Reductions(b)		Net Change in Unrealized Gain/(Loss)		Realized Gain/(Loss)		Fair value as of March 31, 2025		Dividend Income		Interest and PIK Income		Other Income
LSI Financing 1 DAC	$	4,771	$	1	$	—	$	(82)	$	—	$	4,690	$	—	$	—	$	—
Pluralsight, LLC	3,477		43		—		—		—		3,520		—		64		—
Total	$	8,248	$	44	$	—	$	(82)	$	—	$	8,210	$	—	$	64	$	—

        

________

(a) Gross additions may include increases in the cost basis of investments resulting from new investments, amounts related to payment-in-kind (“PIK”) interest capitalized and added to the principal balance of the respective loans, the accretion of discounts, the exchange of one or more existing investments for one or more new investments and the movement at fair value of an existing portfolio company into this controlled affiliated category from a different category.

32

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of March 31, 2025

(Amounts in thousands, except share amounts)

(Unaudited)

(b) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments and sales, return of capital, the amortization of premiums and the exchange of one or more existing securities for one or more new securities.

(30)As defined in the 1940 Act, the Company is deemed to be both an “Affiliated Person” and has “Control” of this portfolio company as the Company owns more than 25% of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company, including through a management agreement (“controlled affiliate”). The Company’s investments in controlled affiliates for the period ended March 31, 2025 were as follows:

Company	Fair value as of December 31, 2024		Gross Additions(a)		Gross Reductions(b)		Net Change in Unrealized Gain/(Loss)		Realized Gain/(Loss)		Fair value as of March 31, 2025		Dividend Income		Interest and PIK Income		Other Income
AAM Series 2.1 Aviation Feeder, LLC(c)	$	77,680	$	11,279	$	(938)	$	3,761	$	—	$	91,782	$	—	$	1,406	$	—
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(c)	75,112		2,429		(85)		4,997		—		82,453		—		1,359		—
Blue Owl Credit SLF LLC	4,294		1,231		—		(198)		—		5,327		166		—		—
Fifth Season Investments LLC	223,274		21,027		—		982		—		245,283		8,061		—		—
LSI Financing LLC	293,775		4,861		(77,251)		3,537		—		224,922		7,070		—		—
OCIC SLF LLC (fka Blue Owl Credit Income Senior Loan Fund LLC)	311,609		—		—		(19,354)		—		292,255		9,590		—		—
Total	$	985,744	$	40,827	$	(78,274)	$	(6,275)	$	—	$	942,022	$	24,887	$	2,765	$	—

________

(a) Gross additions may include increases in the cost basis of investments resulting from new investments, amounts related to payment-in-kind (“PIK”) interest capitalized and added to the principal balance of the respective loans, the accretion of discounts, the exchange of one or more existing investments for one or more new investments and the movement at fair value of an existing portfolio company into this controlled affiliated category from a different category.

(b) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments and sales, return of capital, the amortization of premiums and the exchange of one or more existing securities for one or more new securities.

(c) In connection with its investment in AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC and AAM Series 2.1 Aviation Feeder, LLC (collectively, “Amergin AssetCo”) the Company made a minority investment in Amergin Asset Management, LLC which has entered into a Servicing Agreement with Amergin AssetCo.

(31)Investment was on non-accrual status as of March 31, 2025.

(32)Investment measured at net asset value (“NAV”).

(33)The negative cost and fair value results from unamortized fees, which are capitalized to the investment cost of unfunded commitments.

The accompanying notes are an integral part of these consolidated financial statements.

33

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of December 31, 2024

(Amounts in thousands, except share amounts)

Company(1)(2)(3)(20)(29)	Investment	Interest		Maturity Date	Par/Units		Amortized Cost(4)(25)		Fair Value		Percentage of Net Assets
Non-controlled/non-affiliated portfolio company investments
Debt Investments(5)
Advertising and media
Broadcast Music, Inc. (fka Otis Merger Sub, Inc.)(6)	First lien senior secured loan	S+	5.75%	02/2030	34,318		$	33,558	$	34,060	0.2	%
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(6)	First lien senior secured loan	S+	5.00%	12/2028	229,533		229,533		229,533		1.6	%
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(7)(18)	First lien senior secured revolving loan	S+	5.00%	12/2027	2,517		2,517		2,517		—	%
Monotype Imaging Holdings Inc.(7)(18)	First lien senior secured loan	S+	5.50%	02/2031	170,754		169,537		170,327		1.2	%
Project Boost Purchaser, LLC (dba J.D. Power)(6)(22)	First lien senior secured loan	S+	3.50%	07/2031	23,750		23,750		23,890		0.2	%
Project Boost Purchaser, LLC (dba J.D. Power)(7)(22)	Second lien senior secured loan	S+	5.25%	07/2032	11,250		11,196		11,462		0.1	%
							470,091		471,789		3.3	%
Aerospace and defense
ManTech International Corporation(7)	First lien senior secured loan	S+	5.00%	09/2029	14,674		$	14,674	$	14,674	0.1	%
Novaria Holdings, LLC(6)(22)	First lien senior secured loan	S+	4.00%	06/2031	16,958		16,887		17,042		0.1	%
Peraton Corp.(6)(22)	First lien senior secured loan	S+	3.75%	02/2028	51,272		51,303		47,606		0.3	%
Peraton Corp.(7)(22)	Second lien senior secured loan	S+	7.75%	02/2029	4,831		4,787		3,894		—	%
STS PARENT, LLC (dba STS Aviation Group)(6)	First lien senior secured loan	S+	5.00%	10/2031	135,180		134,526		134,504		0.9	%
STS PARENT, LLC (dba STS Aviation Group)(6)(18)	First lien senior secured revolving loan	S+	5.00%	10/2030	6,947		6,872		6,872		—	%
							229,049		224,592		1.4	%
Automotive aftermarket
OAC Holdings I Corp. (dba Omega Holdings)(6)	First lien senior secured loan	S+	5.00%	03/2029	8,958		$	8,836	$	8,891	0.1	%
Power Stop, LLC(7)	First lien senior secured loan	S+	4.75%	01/2029	29,170		28,980		27,639		0.2	%
							37,816		36,530		0.3	%
Automotive services
Mavis Tire Express Services Topco Corp.(6)(22)	First lien senior secured loan	S+	3.50%	05/2028	29,044		$	29,044	$	29,207	0.2	%
Spotless Brands, LLC(8)(18)	First lien senior secured loan	S+	5.75%	07/2028	81,719		81,017		81,515		0.6	%
Wand Newco 3, Inc. (dba Caliber )(6)(22)	First lien senior secured loan	S+	3.25%	01/2031	12,257		12,257		12,295		0.1	%
							122,318		123,017		0.9	%
Asset based lending and fund finance
Hg Genesis 9 SumoCo Limited(12)(23)	Unsecured facility	E+	6.25% PIK	03/2029	€	143,280	$	156,905	$	148,366	1.0	%
Hg Saturn Luchaco Limited(15)(23)	Unsecured facility	SA+	7.50% PIK	03/2026	£	640	811		801		—	%
							157,716		149,167		1.0	%
Buildings and real estate
Associations Finance, Inc.(17)	Unsecured notes		14.25% PIK	05/2030	164,538		$	163,452	$	164,538	1.1	%
Associations, Inc.(7)(18)	First lien senior secured loan	S+	6.50%	07/2028	425,811		425,388		425,811		2.9	%
CoreLogic Inc.(6)(21)(22)	First lien senior secured loan	S+	3.50%	06/2028	23,840		23,388		23,508		0.2	%
Dodge Construction Network LLC(7)	First lien senior secured loan	S+	4.75%	02/2029	10,485		8,435		8,388		0.1	%
Dodge Construction Network LLC(7)	First lien senior secured loan	S+	6.25%	01/2029	7,560		7,413		7,409		0.1	%
RealPage, Inc.(7)(22)	First lien senior secured loan	S+	3.00%	04/2028	13,915		13,905		13,875		0.1	%

34

Blue Owl Credit Income Corp.

Consolidated Schedules of Investments - Continued

As of December 31, 2024

(Amounts in thousands, except share amounts)

Company(1)(2)(3)(20)(29)	Investment	Interest		Maturity Date	Par/Units	Amortized Cost(4)(25)	Fair Value	Percentage of Net Assets
RealPage, Inc.(7)(22)	First lien senior secured loan	S+	3.75%	04/2028	18,250	18,159	18,296	0.1	%
Wrench Group LLC(7)(22)	First lien senior secured loan	S+	4.00%	10/2028	27,146	27,103	25,992	0.2	%
						687,243