Blue Owl Capital Corporation II ("OBDC II") today announced that its Board of Directors (the "Board") has unanimously recommended that shareholders reject the unsolicited minority tender offer from Cox Capital Partners ("Cox") and Saba Capital Management, L.P. ("Saba") for up to 8,000,000 shares of OBDC II for approximately $30 million (less than 7% of the outstanding shares). We believe this is an attempt to capture value at the expense of OBDC II shareholders. The offering price represents a discount of approximately 33.2% to net asset value ("NAV")1, which is well below what the Board believes to be the potential long-term value of OBDC II shares.