NEW YORK — February 18, 2026 — Blue Owl Technology Finance Corp. (NYSE: OTF) (“OTF” or the “Company”) today announced financial results for its fourth quarter and year ended December 31, 2025.

•Fourth quarter GAAP net investment income (“NII”) per share of $0.26

•Fourth quarter adjusted NII per share of $0.30(1)

•Dividends declared for the first quarter were $0.40 per share, representing an annualized dividend yield of 9.2%(2) based on net asset value (“NAV”) per share as of December 31, 2025

•In connection with the listing, the Board of Directors (the “Board”) declared five special dividends of $0.05 per share to be paid quarterly through September 2026

•NAV per share increased to $17.33, as compared with $17.27 as of September 30, 2025, driven primarily by unrealized and realized gains in certain equity investments and accretive share repurchases

•New investment commitments for the fourth quarter were $2.3 billion and sales and repayments were $881 million, as compared with $1.0 billion of new investment commitments and $848 million of sales and repayments for the three months ended September 30, 2025

•Net debt-to-equity ended at 0.75x, as compared with 0.57x as of September 30, 2025

•Investments on non-accrual represented 0.4% and 0.2% of the portfolio at cost and fair value, respectively, as compared with 0.2% and less than 0.1% as of September 30, 2025

•OTF repurchased approximately $64.6 million of OTF common stock at 82% of price-to-book value

•The Board approved a new $300 million share repurchase program, replacing the prior $200 million authorization

•Approximately 47% of each pre-listing shareholder's position has been released from lock-up, with the remainder scheduled to be released in equal tranches of approximately 10.6% each month until June 12, 2026

"OTF delivered another strong quarter, marked by NAV growth and steady progress towards our target leverage,” said Craig W. Packer, Chief Executive Officer. “The portfolio continues to demonstrate excellent credit quality, reinforcing the durability of our technology investing strategy."

Erik Bissonnette, President, added, “Our software credits remain the strongest-performing segment of our direct lending platform and, on average, have delivered strong revenue and EBITDA growth across all market environments. As AI reshapes the technology landscape, we have revisited our underwriting assumptions and assessed that mission-critical solutions with data moats and operating in low risk-tolerance environments, where our portfolio is focused, are well-positioned to adopt and benefit from AI."

On November 4, 2025, the Board approved a $200 million stock repurchase program, for which purchases may be made at management's discretion from time to time in open market transactions. As of December 31, 2025, the Company repurchased approximately $64.6 million of OTF common stock at 82% price-to-book value, accretive to net asset value per share in the fourth quarter.

On February 18, 2026 the Board approved a new repurchase program of up to $300 million of the Company's common stock, replacing the prior $200 million authorization.

The Board declared a first quarter 2026 regular dividend of $0.35 per share for stockholders of record as of March 31, 2026, payable on or before April 15, 2026.

As previously announced, the Board also declared a series of five special dividends of $0.05 per share. A full schedule of the record and payment dates can be found on the Company’s website at www.blueowltechnologyfinance.com.

On November 4, 2025, the Board approved an amended lock-up release schedule, effective as of November 13, 2025, that applies to shares currently subject to transfer restrictions. Under the new schedule, approximately 10.6% of these shares of the Company’s common stock continue to be released each month until June 12, 2026.

As of today, approximately 47% of each shareholder's position has been released from lock-up. Following the previously announced amendment, the remaining shares still subject to transfer restrictions will be released in accordance with the following schedule:

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(1) Adjusted to exclude any change in capital gains incentive fees accrued but not paid. These fees are related to cumulative unrealized gains in excess of cumulative net realized gains less any cumulative unrealized losses, less capital gains incentive fees paid inception to date.

(2) Annualized dividend yield calculated as Q4 2025 annualized regular dividend of $0.35 per share and Q4 2025 annualized special dividend of $0.05 per share payable to shareholders of record as of December 31, 2025 divided by Q4 2025 net asset value per share of $17.33.

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As of December 31, 2025, the Company had investments in 199 portfolio companies across 39 industries, with an aggregate portfolio size of $14.3 billion at fair value and an average investment size of $71.8 million at fair value.

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(1) We consider 60.6% and 58.1% of first-lien senior secured debt investments to be unitranche loans as of December 31, 2025 and September 30, 2025, respectively.

For the year ended December 31, 2025, new investment commitments totaled $5.6 billion across 58 new portfolio companies and 58 existing portfolio companies. For the year ended December 31, 2024, new investment commitments were $2.7 billion across 54 new portfolio companies and 34 existing portfolio companies.

For the year ended December 31, 2025, the principal amount funded totaled $4.3 billion and aggregate principal amount of sales and repayments totaled $3.1 billion. For the year ended December 31, 2024, the principal amount of new investments funded was $2.1 billion and aggregate principal amount of sales and repayments was $1.8 billion.

For the three months ended December 31, 2025, new investment commitments totaled $2.3 billion across 25 new portfolio companies and 15 existing portfolio companies. For the three months ended September 30, 2025, new investment commitments were $1.0 billion across 12 new portfolio companies and 17 existing portfolio companies.

For the three months ended December 31, 2025, the principal amount of new investments funded totaled $1.7 billion and aggregate principal amount of sales and repayments was $881 million. For the three months ended September 30, 2025, the principal amount of new investments funded totaled $745 million and aggregate principal amount of sales and repayments was $848 million.

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(1)Includes scheduled paydowns.

(2)Number of new investment commitments represents commitments to a particular portfolio company.

(3)Assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was 3.65% and 4.31% as of December 31, 2025 and 2024, respectively.

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(1)Includes scheduled paydowns.

(2)Number of new investment commitments represents commitments to a particular portfolio company.

(3)Assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was 3.65% and 3.98% as of December 31, 2025 and September 30, 2025, respectively.

Investment income decreased to $321 million for the three months ended December 31, 2025 from $323 million for the three months ended September 30, 2025, primarily driven by the impact of lower base rates on floating-rate assets, partially offset by an increase in average leverage. Other income remained relatively consistent period-over-period. The Company expects that investment income will vary based on a variety of factors including the pace of originations and repayments.

Total operating expenses increased to $195 million for the three months ended December 31, 2025 from $190 million for the three months ended September 30, 2025, primarily due to an increase in interest expense from accelerated deferred financing costs related to credit facility amendments and a higher average outstanding debt balance. As a percentage of total assets, professional fees, directors’ fees and other general and administrative expenses, excluding listing advisory fees, remained relatively consistent period-over-period.

As of December 31, 2025, the Company had $283 million in cash and restricted cash, $6.3 billion in total principal value of debt outstanding, including $2.1 billion of unsecured notes and $2.0 billion of undrawn capacity(1) on the Company’s credit facilities. The funding mix was composed of 66.9% secured and 33.1% unsecured borrowings as of December 31, 2025 on an outstanding basis. The Company was in compliance with all financial covenants under its credit facilities as of December 31, 2025. The Company has analyzed cash and cash equivalents, availability under its credit facilities, the ability to rotate out of certain assets and amounts of unfunded commitments that could be drawn and believes its liquidity and capital resources are sufficient to take advantage of market opportunities.

The conference call will be broadcast live on February 19, 2026 at 11:30 a.m. Eastern Time on the News & Events section of OTF’s website at www.blueowltechnologyfinance.com. Please visit the website to test your connection before the webcast.

Participants are also invited to access the conference call by dialing one of the following numbers:

•Domestic: (877) 407-8629

•International: +1 (201) 493-6715

All callers will need to reference “Blue Owl Technology Finance Corp.” once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.

An archived replay will be available for 14 days via a webcast link located on the News & Events section of OTF’s website, and via the dial-in numbers listed below:

•Domestic: (877) 660-6853

•International: +1 (201) 612-7415

•Access ID: 13757814

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(1) Reflects undrawn debt which is based on committed debt less debt outstanding as of 12/31/25.

Blue Owl Technology Finance Corp. (NYSE: OTF) is a specialty finance company focused on making debt and equity investments to U.S. technology-related companies, with a strategic focus on software. As of December 31, 2025, OTF had investments in 199 portfolio companies with an aggregate fair value of $14.3 billion. OTF has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. OTF is externally managed by Blue Owl Technology Credit Advisors LLC, an SEC-registered investment adviser that is an indirect affiliate of Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) and part of Blue Owl’s Credit platform.

Certain information contained herein may constitute "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 OTF, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its 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 OTF's 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, the risks, uncertainties and other factors identified in OTF's filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OTF makes them. OTF does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.

BDC Investor Relations

Michael Mosticchio

credit-ir@blueowl.com

Prosek Partners

Josh Clarkson

pro-blueowl@prosek.com

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(1) Refer to 10-Q Note 8 “Commitments and Contingencies”.

									For the Years Ended December 31,
															2025						2024						2023
Investment Income
Investment income from non-controlled, non-affiliated investments:
Interest income															$	934,059					$	521,185					$	527,597
Payment-in-kind interest income															89,552						104,904						112,991
Dividend income															539						1,627						1,692
Payment-in-kind dividend income															53,870						28,667						24,671
Other income															20,843						6,370						4,590
Total investment income from non-controlled, non-affiliated investments															1,098,863						662,753						671,541
Investment income from non-controlled, affiliated investments:
Interest income															5,321						921						—
Payment-in-kind interest income															3,274						1,528						—
Dividend income															23,765						7,060						1,553
Payment-in-kind dividend income															12,787						11,703						10,720
Other income															94						42						—
Total investment income from non-controlled, affiliated investments															45,241						21,254						12,273
Investment income from controlled, affiliated investments:
Dividend income															1,345						27						—
Total investment income from controlled, affiliated investments															1,345						27						—
Total Investment Income															1,145,449						684,034						683,814
Expenses
Interest expense															$	321,492					$	192,739					$	195,527
Management fees, net(1)															144,941						56,705						58,353
Performance based incentive fees															93,377						40,961						40,716
Capital gains incentive fees															37,529						(5,487)						299
Professional fees															12,071						6,496						8,168
Listing advisory fees (net of Adviser reimbursement)															4,821						—
Directors' fees															1,091						1,034						1,031
Other general and administrative															10,557						5,981						4,441
Total Expenses															625,879						298,429						308,535
Net Investment Income (Loss) Before Taxes															519,570						385,605						375,279
Income tax expense (benefit), including excise tax expense (benefit)															7,489						11,463						9,129
Net Investment Income (Loss) After Taxes															512,081						374,142						366,150
Net Change in Unrealized Gain (Loss)
Non-controlled, non-affiliated investments															$	91,204					$	15,635					$	13,730
Non-controlled, affiliated investments															(15,810)						(3,905)						(20,376)
Controlled, affiliated investments															70,824						39,900						(11)
Translation of assets and liabilities in foreign currencies and other transactions															29,693						(263)						3,126
Income tax (provision) benefit															(702)						(3)						—
Total Net Change in Unrealized Gain (Loss)															175,209						51,364						(3,531)
Net Realized Gain (Loss):
Non-controlled, non-affiliated investments															$	(12,274)					$	(88,542)					$	8,207
Non-controlled, affiliated investments															66,834						(15,696)						—
Foreign currency transactions															(21,479)						(2,043)						(1,687)
Total Net Realized Gain (Loss)															33,081						(106,281)						6,520
Total Net Realized and Change in Unrealized Gain (Loss)															208,290						(54,917)						2,989
Net Increase (Decrease) in Net Assets Resulting from Operations															$	720,371					$	319,225					$	369,139
Earnings (Loss) Per Share - Basic and Diluted															$	1.76					$	1.52					$	1.80
Weighted Average Shares Outstanding - Basic and Diluted															409,416,223						209,770,414						205,005,236

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(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.

On a supplemental basis, the Company is disclosing certain adjusted financial measures, each of which is calculated and presented on a basis of methodology other than in accordance with GAAP (“non-GAAP”). The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income and expenses. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

•“Adjusted Net Investment Income” and “Adjusted Net Investment Income Per Share”: represent net investment income, excluding any change in capital gains incentive fees accrued but not payable. These fees are related to cumulative unrealized gains in excess of cumulative net realized gains less any cumulative unrealized losses, less capital gains incentive fees paid inception to date.

•“Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations” and “Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations Per Share”: represent net income, excluding any change in capital gains incentive fees accrued but not payable.

The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to adjusted net investment income for the periods presented:

The following table provides a reconciliation of net increase (decrease) in net assets resulting from operations (the most comparable U.S. GAAP measure, or net income) to adjusted net increase (decrease) in net assets resulting from operations (or adjusted net income) for the periods presented:

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(1) Totals may not sum due to rounding.