Oaktree Specialty Lending (OCSL) Investor presentation summary

Firm overview and platform

• Oaktree manages $223 billion in assets, specializing in credit strategies and value-oriented investments across asset classes, with a global presence in 26 cities and 18 countries.

• Became part of Brookfield Asset Management in October 2025, creating a major alternative investment platform.

• Over 1,400 employees and a strong emphasis on credit, with $160 billion in credit assets.

Investment strategy and portfolio composition

• Focuses on generating current income and capital appreciation through first lien, senior secured loans and opportunistic investments.

• Portfolio totals $2.9 billion at fair value, with 167 companies; 86% senior secured, 91% floating rate.

• Median portfolio company EBITDA is $190 million; weighted average yield on debt investments is 9.3%.

• Software sector exposure is significant, with $565 million in fair value and 94% first lien loans.

Recent financial and operational highlights

• GAAP net investment income was $0.42 per share for Q1 2026; adjusted net investment income was $0.41 per share.

• Declared a $0.40 per share quarterly cash distribution; NAV per share decreased to $16.30.

• $317 million in new investment commitments and $314 million in new fundings; 8.7% weighted average yield on new debt.

• Net debt to equity ratio rose to 1.07x, within the target range of 0.90x to 1.25x.

• Liquidity stood at $576 million, including $81 million in cash and $495 million undrawn credit facility.