Marc Zahr - 06 Feb 2026 Form 4 Insider Report for Blue Owl Real Estate Net Lease Trust

Role
CEO, Director
Signature
/s/ Karen Hager, as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
06 Feb 2026
Net transactions value
$0
Form type
4
Filing time
10 Feb 2026, 15:15:47 UTC
Previous filing
12 Dec 2025
Next filing
13 Feb 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Zahr Marc CEO, Director C/O BLUE OWL REAL ESTATE NET LEASE TRUST, 150 N RIVERSIDE PLAZA, 37TH FLOOR, CHICAGO /s/ Karen Hager, as Attorney-in-Fact 10 Feb 2026 0001901889

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction Blue Owl NLT Operating Partnership Units Award $0 +1,715,685 +110% $0.000000 3,271,201 06 Feb 2026 Class I common shares of beneficial interest 1,715,685 Direct F1, F2
holding Blue Owl NLT Operating Partnership Units 3,252,106 06 Feb 2026 Class I common shares of beneficial interest 3,252,106 By Augustus, LLC F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents Class I limited partner interests in Blue Owl NLT Operating Partnership LP ("Blue Owl NLT Operating Partnership Units"), which may, subject to certain restrictions, be exchanged for a corresponding number of Class I common shares of beneficial interest, par value $0.01 per share of the Issuer or the cash equivalent. Blue Owl NLT Operating Partnership Units do not expire.
F2 The Blue Owl NLT Operating Partnership Units represent a portion of the Blue Owl NLT Operating Partnership Units previously issued to Blue Owl Real Estate Net Lease Trust CPV LP as a performance allocation, a portion of which was allocated to the Reporting Person and distributed to him on February 6, 2026.
F3 For estate planning purposes, the Reporting Person transferred 90% of the units of Augustus, LLC ("Augustus"), an investment vehicle controlled by the Reporting Person, to the Zahr Family Gift Trust, a family trust for the benefit of the Reporting Person's minor children, all of whom share the same residence as the Reporting Person. The Reporting Person retains the remaining 10% of the Augustus units.

Remarks:

The Reporting Person may no longer be deemed to control Blue Owl Real Estate Net Lease Trust CPV LP and, consequently, may no longer be deemed to beneficially own the securities directly held by Blue Owl Real Estate Net Lease Trust CPV LP.