OSP Value Fund IV LP Q4 2022

OSP Well-Secured, Cash Flow Positive Note & Borrower Under-Collateralized or Sub-Performing Note or Borrower Non-Performing Note or Struggling Borrower Defunct Borrower or Foreclosed Collateral Investment Bull's-eye Ideal investment defined in terms of type of credit, performance and geographic preference. Opportunities screened on basis of "compromises" from ideal - center of bull's-eye. Opportunity Screening Midwest, NY, PR & AK C&I or Specialty/ Owner-Occupied CRE Continental US Income Producing CRE or Ag Credits Rest of US Territories & Canada or Consumer Credits Non-US or Non-income Producing Credits Q2 2022 Investment Process Origination Funnel Counterparty Awareness Opportunity Considered Serious Intent (Bid) Prevailing Proposal (Won) Traded/Closed (Consummated) Profitable Deal OSP maintains regular contact with transactional counterparties - likely sellers & advisors. Prepared for the State of Connecticut Situational awareness critical to managing "hit rate" and minimizing lost deal expenses. Count 1,013 2,920 390 191 175 [172] 13

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