Oaktree Real Estate Opportunities Fund Viii, L.P. Presentation for Fresno County Employees’ Retirement Association

OAKTREE REAL ESTATE OPPORTUNITIES STRATEGY ROF VIII Almost Entirely Invested After Onset of Covid-19 PRE-COVID-19 CAPITAL DEPLOYMENT¹ 2% Dry Powder 98% Capital Invested Pre-Covid-19 POST-COVID-19 CAPITAL DEPLOYMENT¹ 77% 0.4% 23% Capital Invested Throughout Covid-19 As of April 7, 2021 Note: Figures shown for ROF VIII on this page refer to investments made by ROF VIII to date. Percentages shown for ROF VIII are out of $4.7 billion of closed commitments. See the "Endnotes" for footnote references on page 11. 7

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