Document

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

(Exact name of trustee as specified in its charter)


North Carolina (Jurisdiction of incorporation if not a U.S. national bank)			56-0149200 (I.R.S. Employer Identification No.)

223 West Nash Street Wilson, NC 27893 (Address of principal executive offices)			27893 (Zip Code)

223 West Nash Street

(Name, address and telephone number of agent for service)

Blue Owl Credit Income Corp.

f/k/a Owl Rock Core Income Corp.

(Exact name of obligor as specified in its charter)


Maryland			85-1187564
(Jurisdiction of incorporation)			(I.R.S. Employer Identification No.)

(Address of principal executive offices)

Blue Owl Credit Income Corp. 7.950% Notes due 2028,

6.650% notes due 2031, 6.600% Notes due 2029, 5.800% Notes due 2030

(Title of the indenture securities)


Item 1.	General Information. Furnish the following information as to the trustee:

	(a)	Name and address of each examining or supervising authority to which it is subject.

		State of North Carolina – Commissioner of Banks
		State of North Carolina
		Raleigh, North Carolina

		Federal Reserve Bank of Richmond
		Post Office Box 27622
		Richmond, VA 23261

		Federal Deposit Insurance Corporation
		Washington, D.C.
	(b)	Whether it is authorized to exercise corporate trust powers.

		Yes.
Item 2.	Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation. Based upon an examination of the books and records of the trustee and upon information furnished by the obligor, the obligor is not an affiliate of the trustee.

Items 3-15	No responses are included for Items 3-15. Responses to those items are not required because, as provided in General Instruction B, the obligor is not in default on any securities issued under indentures under which Truist Bank is a trustee and Truist Bank is not a foreign trustee.
Item 16.	List of Exhibits. List below all exhibits filed as a part of this statement of eligibility; exhibits identified in parentheses are filed with the Commission and are incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29 under the Trust Indenture Act of 1939, as amended, and Rule 24 of the Commission’s Rules of Practice.
	Exhibit 1.		A copy of the Articles of Incorporation for Truist Bank. (See Exhibit 1 to Form T-1 filed with Registration Statement No. 333-267664).
	Exhibit 2.		The authority of Truist Bank to commence business was granted under the Articles of Incorporation for Truist Bank. (See Exhibit 2 to Form T-1 filed with Registration Statement No. 333-267664).
	Exhibit 3.		The authorization to exercise corporate trust powers was granted by the State of North Carolina Commissioner of Banks in the Authority to Act as Fiduciary without Bond Certificate. (See Exhibit 3 to Form T-1 filed with Registration Statement No. 333-267664).
	Exhibit 4.		A copy of the existing By-Laws of Truist Bank. (See Exhibit 4 to Form T-1 filed with Registration Statement No. 333-267664).
	Exhibit 5.		Not applicable.
	Exhibit 6.		The consent of Trustee as required by Section 321(b) of the Trust Indenture Act of 1939. (See Exhibit 4 to Form T-1 filed with Registration Statement No. 333-267664).
	Exhibit 7.		The Current Report of the Condition of Trustee, published pursuant to law or the requirements of its supervising or examining authority, is attached as Exhibit 7.
	Exhibit 8.		Not applicable.
	Exhibit 9.		Not applicable.

Pursuant to the requirements of the Trust Indenture Act of 1939 the trustee, Truist Bank, a banking corporation organized and existing under the laws of the State of North Carolina, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Jacksonville and the State of Florida, on the 20th day of March, 2025.


TRUIST BANK


By:			/s/ Patrick Giordano
Name:			Patrick Giordano
Title:			Vice President

CONSOLIDATED STATEMENTS OF INCOME

TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES


	Year Ended December 31,
(Dollars in millions, except per share data, shares in thousands)	2024		2023		2022
Interest Income
Interest and fees on loans and leases	$	19,230	$	19,518	$	13,252
Interest on securities	3,506		3,066		2,763
Interest on other earning assets	2,330		1,868		619
Total interest income	25,066		24,452		16,634
Interest Expense
Interest on deposits	7,849		6,427		1,145
Interest on long-term debt	1,813		2,215		791
Interest on other borrowings	1,313		1,286		385
Total interest expense	10,975		9,928		2,321
Net Interest Income	14,091		14,524		14,313
Provision for credit losses	1,870		2,109		777
Net Interest Income After Provision for Credit Losses	12,221		12,415		13,536
Noninterest Income
Wealth management income	1,412		1,358		1,338
Investment banking and trading income	1,203		822		995
Card and payment related fees	907		936		944
Service charges on deposits	915		873		1,028
Mortgage banking income	432		437		460
Lending related fees	366		447		375
Operating lease income	205		254		258
Securities gains (losses)	(6,651)		—		(71)
Other income	398		371		333
Total noninterest income	(813)		5,498		5,660
Noninterest Expense
Personnel expense	6,506		6,516		6,558
Professional fees and outside processing	1,337		1,192		1,322
Software expense	896		868		887
Net occupancy expense	656		658		690
Equipment expense	373		381		449
Amortization of intangibles	345		395		455
Marketing and customer development	268		260		321
Operating lease depreciation	144		175		184
Regulatory costs	344		824		183
Restructuring charges	120		320		466
Goodwill impairment	—		6,078		—
Other expense	1,020		1,011		652
Total noninterest expense	12,009		18,678		12,167
Earnings
Income (loss) before income taxes	(601)		(765)		7,029
Provision (benefit) for income taxes	(556)		738		1,250
Net income (loss) from continuing operations	(45)		(1,503)		5,779
Net income from discontinued operations	4,885		456		488
Net income (loss)	4,840		(1,047)		6,267
Noncontrolling interests from discontinued operations	22		44		7
Preferred stock dividends and other	349		361		333
Net income (loss) available to common shareholders	$	4,469	$	(1,452)	$	5,927
Basic earnings from continuing operations	$	(0.30)	$	(1.40)	$	4.10
Basic EPS	3.36		(1.09)		4.46
Diluted earnings from continuing operations	(0.30)		(1.40)		4.07
Diluted EPS	3.36		(1.09)		4.43
Basic weighted average shares outstanding	1,331,087		1,331,963		1,328,120
Diluted weighted average shares outstanding	1,331,087		1,331,963		1,338,462