OSP Value Fund IV LP Q4 2022

OSP O'BRIEN-STALEY PARTNERS Contact: Alyssa Cheatham, Managing Director Investor Relations [email protected] 773.354.5712 Jen Goldsmith, Director Investor Relations [email protected] 917.902.6367 Website: www.osp-group.com Mailing Address: 3948 West 49¹/2 Street Box 24794 Edina, Minnesota 55424 + FINANCIAL DISCLOSURE FOOTNOTES: • The data is being used with the permission of CarVal Investors, LLC ("CarVal" or "CVI"). CarVal and its affiliates have no responsibility for or liability to any person regarding the data presented, the appropriateness of its use, its compliance with any regulatory requirements or for any subsequent use of such information. Additionally CarVal and its affiliates are not responsible for any errors, omissions or inaccuracies in the data. CarVal and its affiliates do not provide any guarantees, representations or warranties with respect to the accuracy of the data presented herein and is under no obligation to update the data. • Jerry O'Brien is a former employee of CarVal. Jerry O'Brien has formed a company not affiliated with CarVal to advise funds not affiliated with Carval or any fund managed by CarVal. • The performance information reflects the performance of certain aspects of CarVal's Loan Portfolio Team and other CarVal investment strategies managed by Jerry O'Brien at various dates from 1994 to Q1 2010. The performance contained herein was generated by the entire CarVal Team, not the solo performance of any single investment professional. • Returns are gross returns exclusive of fees and do not reflect the net returns received by investors. • Where indicated, returns are calculated using time weighted returns. • The performance data includes gains on unrealized investments as of June 30, 2012 and there can be no assurance of the realized gains that those investments will ultimately achieve. • For the (very small number of) non-USD denominated deals, local currency cash flows have been converted to USD using a constant FX rate in the IRR calculation; that prevailing at inception of the deal. Reported P&L and time weighted returns reflect the impact of FX translation of the investment and associated hedges. • Quarterly time weighted returns have been calculated from compounding the monthly returns of that period. Different results may be obtained if intra-quarter results were aggregated and the quarter treated as a single period. These differences are expected to be minor at aggregate portfolio level, but may be significant for certain sub-portfolios in certain periods. • Approximately $98mm of C&I investment activity is absent from O'Brien-investment volume and IRR performance track record due to CVI's roll-up procedures. However, the performance of these investments after 1994 is fully incorporated in the O'Brien-managed Time Weighted Returns (TWR) for the periods reported. • The term "50% Avg Hold" is defined as the number of months until 50% of total anticipated cash collections has been collected from an investment. It is provided for informational purposes only in lieu of a weighted average life or duration calculation. • Past performance is no guarantee of future results. OTHER FOOTNOTES: Pages 1-20 Copyright OSP, LLC 2022 Prepared for the State of Connecticut 20

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