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

OAKTREE REAL ESTATE OPPORTUNITIES STRATEGY Synergistic Platform With $22 Billion of Committed Capital ● ● REAL ESTATE Focus Areas: ● OPPORTUNITIES Inception: 1994¹ AUM: $6.9bn Committed Capital: $13.4bn² Opportunistic Credit Commercial Residential Corporate Platforms Global Ex-U.S. As of December 31, 2020 Note: See the "Endnotes" for footnote references on page 11. REAL ESTATE DEBT Inception: 2010 AUM: $3.0bn Committed Capital: $7.0bn² Focus Areas: Real Estate Structured Credit Real Estate-related Corporate Debt Commercial First Mortgages • Residential First Mortgages Commercial Mezzanine Loans REAL ESTATE ● INCOME Inception: 2016 AUM: $1.8bn Committed Capital: $1.6bn² Focus Areas: Commercial Office Multifamily Industrial 3

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