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Oaktree Specialty Lending Corporation Direct Lending Approach

OAKTREE OCSL Specialty Lending Corporation Sources of Funding As of June 30, 2017 Funding Source Syndicated Credit Facility led by ING Sumitomo Mitsui Bank Credit Facility SBA debentures Capacity $710 million(1) Interest Rate LIBOR+225 bps Maturity August 2018 $125 million LIBOR+200 bps August 2018 $148 million(2) Unsecured Notes (Three separate issues) $411 million 3.02% weighted average 4.875% 6.125% February 2020 March 2019 April 2028 Improved credit quality and portfolio performance in combination with Oaktree's sponsorship and lender relationships should reduce cost of capital over time (1) The ING facility capacity has been reduced to $525 million. (2) The SBA debentures were paid off subsequent to June 30, 2017. 14

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