CEF Insights Podcast series:
Oaktree’s Multi-Sector Income Opportunities
June 2, 2022

Listen to a podcast with Oaktree Diversified Income Fund’s portfolio managers,
Danielle Poli and Wayne Dahl, and part of the CEF Insights Podcast series.
LISTEN TO PODCAST

Performance data quoted represents past performanceand is no guarantee of future results. Investment returnand principal value of an investment will fluctuate
so that an investor’s shares, when redeemed, may
be worth more or less than their original cost.
Current performance may be lower or higher thanthe performance data quoted. Performance includes
the reinvestment of income, dividends and capital gain
distributions. To obtain performance information current
to the most recent month-end, please call 855.862.5873
or view the Fund’s website page. Performance reflects
management fees and other fund expenses.
An investor should consider a fund’s investment
objectives, risks, charges and expenses carefully
before investing.
The Fund is subject to investment risks, including
the possible loss of principal invested. Investing
involves risk, and principal loss is possible. The
Adviser employs an active approach to allocation
across multiple credit sectors, but there is noguarantee that such allocation techniques willproduce the desired results. General interest
rate fluctuations may have a substantial negative
impact on the Fund’s investments and investment
opportunities, and, accordingly, may have amaterial adverse effect on the Fund’s rate ofreturn. The Fund may invest in foreign securities,
including, but not limited to, risk related to
exchange rate changes, political and economic
upheaval, and relatively low market liquidity,
all of which are magnified in emerging markets.
The Fund intends to invest in illiquid investments
which can face significant difficulties and delays
associated with such transactions, and the Fund
may be unable to sell other illiquid investments
when it desires to do so, resulting in the Fundobtaining a lower price or being required toretain the investment. Investments in derivatives
involve special risks including correlation,
counterparty, liquidity, operational, accounting
and tax risks. These risks, in certain cases, may
be greater than the risks presented by more
traditional investments.

© 2022 Brookfield Asset Management Inc.

High-yield debt securities rated below investment
grade are commonly referred to as “junk bonds”
and are considered speculative. Investment by
the Fund in lower- rated and non-rated securities
presents a greater risk of loss to principal andinterest than higher-rated securities. Bank loans(including senior loans) are usually rated below
investment grade, and the market for bankloans may be subject to irregular trading activity,
wide bid/ask spreads, restrictions on resale, andextended trade settlement periods. The Fund’sinvestments in senior loans may be subject togreater levels of credit risk, call risk, settlement
risk and liquidity risk than funds that do notinvest in such securities. The Fund may invest
in distressed securities of corporate issuersthat are the subject of bankruptcy proceedings
or otherwise in default as to the repaymentof principal and/or interest or in significant riskof being in such default which is speculativeand involves significant risk. Distressed Securities
frequently do not produce income while they
are outstanding and may require the Fund to bearcertain extraordinary expenses in order to protect
and recover its investment. The Fund may invest
in loans that may be “covenant-lite,” generallyloans that do not have financial maintenancecovenants, which can cause the Fund to havefewer rights against a borrower and may havea greater risk of loss on such investments.
The Fund may invest in a variety of mortgage
related and other asset-backed securities, which
are subject to greater price volatility in relation
to interest rate movements. Residential mortgage
backed securities (RMBS) may be subjectto prepayment risk, meaning that securities
may be paid off more quickly than originally
anticipated and the Fund will have to invest
the proceeds in securities with lower yields.
Commercial mortgage backed securities (CMBS)
may be subject to extension risk, meaning thatthe value of CMBS may be adversely affectedin rising interest rate environments when
payments on underlying mortgages do notoccur as anticipated, resulting in the extensionof the security’s effective maturity and therelated increase in interest rate sensitivityof a longer-term instrument. Investments
in collateralized loan obligations (CLOs)
carry additional risks including, but not limited
to: 1) the possibility that distributions fromcollateral securities will not be adequate to
make interest or other payments; 2) the qualityof the collateral may decline in value or default;3) the possibility that the Fund may invest inCLOs that are subordinate to other classes; and4) the complex structure of the security may
produce disputes with the issuer or unexpected
investment results.
Short term performance in particular is not agood indication of the fund’s future performanceand an investment should not be made based
solely on returns.
Fund allocations are subject to change and should
not be considered recommendations to buy or sell
any security.
The statements and opinions expressed are thoseof the presenters. Any discussion of investments
and investment strategies represents the presenter’sviews as of the date created and are subject tochange without notice. The opinions expressed
are for general information only and are not intended
to provide specific advice or recommendations
for any individual.
Oaktree Fund Advisors LLC (“Oaktree”, or “theAdviser”) is an SEC-registered investment adviser
and is also an affiliate and related adviser of Oaktree
Capital Management, L.P., an investment adviser
registered with the SEC. Oaktree serves as theinvestment adviser to the Fund. Quasar Distributors,
LLC, is the distributor of Oaktree Diversified Income
Fund Inc.

brookﬁeldoaktree.com
info@brookﬁeldoaktree.com+1 855-777-8001