EX-4.1





 Exhibit 4.1 

SPECIMEN UNIT CERTIFICATE 

NUMBER UNITS 
 U-                 
 SEE REVERSE FOR

 CERTAIN 
 DEFINITIONS 

Oaktree Acquisition Corp. III 

CUSIP G6717L 123 
 UNITS
CONSISTING OF ONE CLASS A ORDINARY SHARE AND ONE-EIGHTH OF ONE WARRANT TO PURCHASE ONE CLASS A ORDINARY SHARE 

THIS CERTIFIES THAT ________________________________________________________ 

is the owner of ________________________________________________________ Units. 

Each Unit (“Unit”) consists of one (1) Class A ordinary share, par value $0.0001 per share (“Ordinary Shares”), of Oaktree
Acquisition Corp. III, a Cayman Islands exempted company (the “Company”), and one-eighth (1/8) of one warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder
to purchase one (1) Ordinary Share for $11.50 per share (subject to adjustment). Each Warrant will become exercisable thirty days after the Company’s completion of a merger, share exchange, asset acquisition, share purchase, reorganization
or other similar business combination with one or more businesses (each a “Business Combination”), and will expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after the date on which
the Company completes its initial Business Combination, or earlier upon redemption or liquidation (the “Expiration Date”). The Ordinary Shares and Warrants comprising the Units represented by this certificate are not transferable
separately prior to __________, 2021, unless [•] and [•] elect to allow earlier separate trading, subject to the Company’s filing with the Securities and Exchange Commission of a Current Report on
Form 8-K containing an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the initial public offering and issuing a press release announcing when separate trading will
begin. No fractional warrants will be issued upon separation of the Units. The terms of the Warrants are governed by a Warrant Agreement, dated as of __________, 2021, between the Company and Continental Stock Transfer & Trust Company, as
Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office of the Warrant
Agent at 1 State Street, 30th Floor, New York, New York 10004, and are available to any Warrant holder on written request and without cost. 

This certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company. 

This certificate shall be governed by and construed in accordance with the internal laws of the State of New York. 

Witness the facsimile signatures of its duly authorized officers. 
  

							
	By	 	  
	  		 	  

		 	Chief Executive Officer	  		 	Chief Financial Officer

  












 Oaktree Acquisition Corp. III 

The Company will furnish without charge to each unitholder who so requests, a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights. 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

															
	TEN COM	 	—	 	as tenants in common	 	UNIF GIFT MIN ACT    	 	—	  	  
	 	Custodian	 	  

								
	TEN ENT	 	—	 	as tenants by the entireties	 		 		  	(Cust)	 		 	(Minor)
						
	JT TEN	 	—	 	as joint tenants with right of survivorship and not as tenants in common	 		 		  	 under Uniform Gifts to Minors Act

		 		 		 		 		  	(State)

 Additional abbreviations may also be used though not in the above list. 

  
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 For value received, ____________________ hereby sells, assigns and transfers unto ____________________

  

			
	  
	 	

 PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF ASSIGNEE 
  

			
	  


 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 

________________________________________ Units represented by the within Certificate, and do hereby irrevocably constitute and appoint
________________________________________ Attorney to transfer the said Units on the books of the within named Company with full power of substitution in the premises. 
  

					
	Dated	 	  
	 	
			
		 	Notice:	 	  
 The signature to this assignment
must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.


  

			
	Signature(s) Guaranteed:
	  

	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM,
PURSUANT TO S.E.C. RULE 17Ad-15 OR ANY SUCCESSOR RULES).

 In each case, as more fully described in the Company’s final prospectus dated __________, 2021, the holder(s) of this
certificate shall be entitled to receive a pro-rata portion of certain funds held in the trust account established in connection with the Company’s initial public offering only in the event that
(i) the Company redeems the Class A Ordinary Shares sold in its initial public offering and liquidates because it does not consummate an initial business combination within the period of time set forth in the Company’s amended and
restated memorandum and articles of association, (ii) the Company redeems the Class A Ordinary Shares sold in its initial public offering in connection with a shareholder vote to amend the Company’s amended and restated memorandum and
articles of association (a) to modify the substance or timing of the Company’s obligation to redeem 100% of the Class A Ordinary Shares if it does not consummate an initial business combination within the time period set forth therein
or (b) with respect to any other provisions relating to the rights of holders of the Company’s Class A ordinary shares, or (iii) if the holder(s) seek(s) to redeem for cash his, her or its respective Class A Ordinary Shares
in connection with a tender offer (or proxy solicitation, solely in the event the Company seeks shareholder approval of the proposed initial business combination) setting forth the details of a proposed initial business combination. In no other
circumstances shall the holder(s) have any right or interest of any kind in or to the trust account. 

  
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