In connection with the consummation of the Mergers, Messrs. Robert Denham, Larry Keele and Wayne Pierson each resigned from the Board of Directors (the Board") of Oaktree Capital Group, LLC, including all committees of the Board, effective as of September 30, 2019. These resignations were not as a result of any disagreements between Oaktree and the resigning directors on any matters relating to Oaktree's operations, policies or practices. Also in connection with the consummation of the Mergers, as agreed between OCGH and Brookfield and specified in the Fifth Amended and Restated Operating Agreement of Oaktree, Messrs. J. Bruce Flatt and Justin B. Beber were appointed as members of the Board effective as of October 1, 2019. One of Messrs. Flatt and Beber will serve on each committee of the Board other than the audit committee.