OSP Value Fund IV LP Q4 2022

($ BILLIONS) 60 50 40 30 20 10 0 Source: FDIC, NBER Loan Type Jun 98 Jun 99 Jun 00 Jun 01 Jun 02 Jun 03 Jun 04 Jun 05 Performing Performing/ Non-performing Non-performing Total 1990-2020 Quarterly Net Charge-Offs Non-Current Loans Book $ Value $18,181 C&I Loan Credit Cycle $4,355 $19,873 $42,409 90 unr Jun 07 Jun 08 Charge-Offs Appraised Value $15,245 $1,966 FDIC Loan Sales $5,528 60 unr $22,739 Jun 10 Recession Quarters Jun 11 Jun 12 Jun 13 Jun 14 Jun 15 Jun 16 Jun 17 Jun 18 Jun 19 Jun 20 Sales Price $15,155 $2,214 $5,681 $23,050 Source: FDIC, data June 30, 2022 (last sale June 19, 2020) $ in millions # Sold 395,553 132,320 395,144 $19 Billion Charged Off 923,017 Delinquent % of SP/BV 83% 51% 29% 54% Jun 21 Jun 22 % of SP/AV 99% 113% 103% 101% Number 1,000 $ Trillions 900 800 700 600 500 400 300 200 100 12 10 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: FDIC co 6 4 2 0 Banks on the "Problem Bank List" JPMorgan Chase $3.4 Trillion Bank of America $2.4 Trillion Citibank $1.7 Trillion Wells Fargo $1.7 Trillion 2022 Total Industry Assets = $24 Trillion Assets of Problem Banks (Right Axis) - Number of Problem Banks (Left Axis) Top Four Banks $9.3 Trillion (39%) Source: FDIC as of June 30, 2022 Banking Industry Scale 151 Banks $11.1 Trillion Banks > $10 Billion $11.1 Trillion (47%) Prepared for the State of Connecticut 40 Problem Banks $170 Billion Assets Assets ($ Billions) 500 817 Banks $2.2 Trillion 3,010 Banks $1.1 Trillion Banks <$10 Billion $3.3 Trillion (14%) 450 400 350 300 250 200 150 100 50 0 Size < $1B-$10B Size <$100MM-$1B 785 Banks Size < $100MM $48 Billion 7

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