Investor Presentation October 2020

OMNI BRIDGEWAY First Generation Funds We have been asked how we analyse the ability of the first generation funds to return value to OBL shareholders based on their current portfolios and returns to date. Whilst Omni Bridgeway does not provide earnings guidance or forecasts and notes that past performance is not necessarily an indicator of future performance, we explain how we analyse these funds. Omni Bridgeway assessment process: • Preferred capital and returns (non-recourse) Fund portfolio EPV and the Long Term Conversion Rate (LTCR) Preferred Capital and Returns Fund ROIC and deployed capital Possible completion periods Fund 1 as at 30 June 2020 Preferred Capital Funds 2&3 Total Accumulated Total Accumulated $m $m as at 30 June 2020 $m $m 80.8 80.8 Preferred Capital 50.1 50.1 Accumulated Preferred Return 38.3 119.1 Accumulated Preferred Return 16.4 66.5 Accumulated Special Distribution 2.6 121.7 Accumulated Special Distribution 3.6 70.1 Receivables from litigation contracts yet to be distributed (5.9) Net 115.8 Receivables from litigation contracts yet to be distributed Net (33.9) 36.2 First Generation Fund EPV and LTCR Possible Completion EPV # investments EPV $m FY2021 FY2022 FY2023 FY2024+ Fund 1 30 2,798.8 $m 1,441.3 $m $m $m 798.6 258.3 300.6 Funds 2 & 3 31 2,939.9 Total 61 5,738.7 935.3 2,376.6 1,180.0 791.1 33.5 1,978.6 1,049.4 334.1 Global LTCR at 30 June 2020 was 15% of EPV. Fund 1 EPV ($2.8b @ 30 June 2020) and OBL's LTCR (which includes losses) (15% of EPV @ 30 June 2020) Fund 1's average ROIC to date (20% @ 30 June 2020) and the capital deployed to outstanding Fund 1 investments ($191.4m @ 30 June 2020) Funds 2&3 EPV ($2.9b @ 30 June 2020) and OBL's LTCR (which includes losses) (15% of EPV @30 June 2020) Funds 2&3's average ROIC to date (314% @ 30 June 2020) and the capital deployed to outstanding Funds 2&3 investments ($57.6m @ 30 June 2020) Looking at the possible completion dates across the portfolios, by way of example, if the Fund 1 investments with Possible Completion in FY21 were to complete in that period at the LTCR the senior capital and preferred return would be comfortably returned. INVESTOR PRESENTATION | OCTOBER 2020 20 20

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