# EDGAR Filing Document

**Accession Number:** 0001744179
**File Stem:** 0001193125-23-005682
**Filing Date:** 2023-1
**Character Count:** 12890
**Document Hash:** 6ad3b1ac4f0bd987acca04e3974576f3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-005682.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001193125-23-005682

**CONFORMED SUBMISSION TYPE**: 425

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Oaktree Strategic Income II, Inc.
- **CENTRAL INDEX KEY:** 0001744179
- **IRS NUMBER:** 934521152
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 425
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01281
- **FILM NUMBER:** 23521803

**BUSINESS ADDRESS:**
- **STREET 1:** C/O OAKTREE CAPITAL MANAGEMENT, L.P.
- **STREET 2:** 333 S. GRAND AVENUE, 28TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2138306300

**MAIL ADDRESS:**
- **STREET 1:** C/O OAKTREE CAPITAL MANAGEMENT, L.P.
- **STREET 2:** 333 S. GRAND AVENUE, 28TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Oaktree Strategic Income II, Inc.
- **CENTRAL INDEX KEY:** 0001744179
- **IRS NUMBER:** 934521152
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 425

**BUSINESS ADDRESS:**
- **STREET 1:** C/O OAKTREE CAPITAL MANAGEMENT, L.P.
- **STREET 2:** 333 S. GRAND AVENUE, 28TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2138306300

**MAIL ADDRESS:**
- **STREET 1:** C/O OAKTREE CAPITAL MANAGEMENT, L.P.
- **STREET 2:** 333 S. GRAND AVENUE, 28TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**Filed by Oaktree Strategic Income II, Inc.<br> pursuant to Rule 425 under the Securities Act of 1933<br> and deemed filed under Rule 14a-6(b) of the Securities<br> Exchange Act of 1934<br> Subject Company: Oaktree Strategic Income II, Inc.<br> Commission File No. 814-01281<br> File No. of Related Registration Statement: 333-267988**![LOGO](g427537dsp001.jpg)

YOUR VOTE IS MISSING & URGENTLY NEEDED MATERIAL REQUIRING YOUR IMMEDIATE ACTION ENCLOSED

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![LOGO](g427537dsp002.jpg)

MERGER PROPOSED—YOUR VOTE IS MISSING & URGENTLY NEEDED Our Board of Directors unanimously recommends that you respond to this solicitation by voting FOR the proposal described in the proxy materials previously sent to you. Dear Shareholder, The Special Meeting of Stockholders of Oaktree Strategic Income II, Inc. ("OSI2") is quickly approaching, to be held virtually on January 20, 2023 at 10:30 a.m., Pacific Time, at the following website: www.virtualshareholdermeeting.com/OSI22023SM. Our records indicate that your account is currently unvoted and we are urgently requesting your participation online or via phone to approve the proposal related to our proposed merger with Oaktree Specialty Lending Corporation ("OCSL"), as outlined in the proxy materials previously sent to you. We believe the proposed merger between OSI2 and OCSL is a compelling combination that will provide multiple benefits to shareholders of OSI2. We believe that the merger: Enhances Value: The merger is expected to be accretive to the net investment income and dividends to OSI2 stockholders Access to Liquidity: OSI2 stockholders will gain access to liquidity in an established, listed BDC with a successful track record Increases Scale: The combined company will have more than $3 billion of total assets and over $1.5 billion of net assets, making it a top ten publicly traded BDC by assets (adjusted for the merger as of September 30, 2022) Will Result in a Seamless Portfolio Integration: The combination of two known investment portfolios with significant investment overlap will help to facilitate a seamless portfolio integration Improves Access to Debt Capital: The larger scale of the combined company may improve access to more diverse, lower cost sources of debt capital In support of the transaction, Oaktree Fund Advisors, LLC, the external manager of OSI2 and OCSL, has agreed to waive a total of $9 million of base management fees over two years after the merger closes. Your vote and participation are very important to us, no matter how many or few shares in OSI2 you own. Due to the proximity of the meeting, we're requesting your vote to be exercised online by visiting our website at www.proxyvote.com, by scanning the QR Code on your proxy card with a smartphone or by calling our proxy solicitor, Broadridge, at 1-844-670-2136. Thank you for your continued support of OSI2. Sincerely, Armen Panossian Mathew Pendo Chairman, Chief Executive Officer & President Chief Investment Officer THREE WAYS TO VOTE ONLINE PHONE QR CODE WWW.PROXYVOTE.COM WITHOUT A PROXY CARD WITH A SMARTPHONE Please have your proxy card in Call 1-844-670-2136 Vote by scanning the hand when accessing the website. Monday to Friday, 9:00 a.m. Quick Response Code or There are easy-to-follow directions to 9:00 p.m. ET to speak with "QR Code" on the Proxy to help you complete the electronic a proxy specialist. Card/VIF enclosed. voting instruction form. WITH A PROXY CARD Call 1-800-690-6903 with a touch-tone phone to vote using an automated system. PROXY QUESTIONS? Call 1-844-670-2136

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![LOGO](g427537dsp003.jpg)

Your vote is missing and urgently needed. Please take action today. A special meeting of stockholders of Oaktree Strategic Income II is quickly approaching on January 20, 2023. Our records indicate that your account has not yet been voted. Please take a moment and vote your shares today. Due to the proximity of the meeting, please vote your shares by internet, QR code, or telephone. The enclosed form will include your unique control number that can be used for voting online or by telephone. If you have any questions or need assistance, please call 1-844-670-2136. THREE WAYS TO VOTE ONLINE PHONE QR CODE WWW.PROXYVOTE.COM WITHOUT A PROXY CARD WITH A SMARTPHONE Please have your proxy card in Call 1-844-670-2136 Vote by scanning the hand when accessing the website. Monday to Friday, 9:00 a.m. Quick Response Code or There are easy-to-follow directions to 9:00 p.m. ET to speak with "QR Code" on the Proxy to help you complete the electronic a proxy specialist. Card/VIF enclosed. voting instruction form. WITH A PROXY CARD Call 1-800-690-6903 with a touch-tone phone to vote using an automated system.

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**Forward-Looking Statements** 

Some of the statements in this communication constitute forward-looking statements because they relate to future events, future performance or financial condition or the proposed merger between OSI2 and OCSL (the "Merger"). The forward-looking statements may include statements as to: future operating results of OSI2 and OCSL and distribution projections; business prospects of OSI2 and OCSL and the prospects of their portfolio companies; and the impact of the investments that OSI2 and OCSL expect to make. In addition, words such as "anticipate," "believe," "expect," "seek," "plan," "should," "estimate," "project" and "intend" indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this communication involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the timing or likelihood of the closing of the Merger; (ii) the expected synergies and savings associated with the Merger; (iii) the ability to realize the anticipated benefits of the Merger, including the expected elimination of certain expenses and costs due to the Merger; (iv) the percentage of OSI2 and OCSL stockholders voting in favor of the proposals submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the Merger may not be satisfied or waived; (vii) risks related to diverting management's attention from ongoing business operations; (viii) the risk that stockholder litigation in connection with the Merger may result in significant costs of defense and liability; (ix) changes in the economy, financial markets and political environment, including the impacts of inflation and rising interest rates; (x) risks associated with possible disruption in the operations of OSI2 and OCSL or the economy generally due to terrorism, war or other geopolitical conflict (including the current conflict between Russia and Ukraine), natural disasters or the COVID-19 pandemic; (xi) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (xii) conditions in OSI2's and OCSL's operating areas, particularly with respect to business development companies or regulated investment companies; (xiii) general considerations associated with the COVID-19 pandemic; and (xiv) other considerations that may be disclosed from time to time in OSI2's and OCSL's publicly disseminated documents and filings. OSI2 has based the forward-looking statements included in this communication on information available to it on the date of its first use of this communication, and OSI2 assumes no obligation to update any such forward-looking statements. Although OSI2 undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that OSI2 or OCSL may make directly to you or through reports that OSI2 and OCSL in the future may file with the Securities and Exchange Commission ("SEC"), including the Joint Proxy Statement and the Registration Statement (each as defined below), annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

**Additional Information and Where to Find It** 

In connection with the Merger, OCSL has filed with the SEC a registration statement on Form N-14 (the "Registration Statement") that includes a joint proxy statement of OCSL and OSI2 (the "Joint Proxy Statement") and a prospectus of OCSL. The Joint Proxy Statement and the final prospectus of OCSL was mailed to stockholders of OCSL on or about December 1, 2022. The Registration Statement and the Joint Proxy Statement contain important information about OSI2, OCSL, the Merger and related matters. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. STOCKHOLDERS OF OSI2 ARE URGED TO READ THE JOINT PROXY STATEMENT AND REGISTRATION STATEMENT, AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OSI2, OCSL, THE MERGER AND RELATED MATTERS. Investors and security holders will be able to obtain the documents filed with the SEC free of charge at the SEC's website, http://www.sec.gov and, for documents filed by OCSL, from OCSL's website at http://www.oaktreespecialtylending.com.

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**Participants in the Solicitation** 

OSI2, its directors, certain of its executive officers and certain employees and officers of Oaktree and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Merger. Information about the directors and executive officers of OSI2 is set forth in the Joint Proxy Statement, which was filed by OCSL with the SEC on November 30, 2022. OCSL, its directors, certain of its executive officers and certain employees and officers of Oaktree and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Merger. Information about the directors and executive officers of OCSL is set forth in the Joint Proxy Statement, which was filed by OCSL with the SEC on November 30, 2022. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the OSI2 and OCSL stockholders in connection with the Merger is set forth in the Joint Proxy Statement. The Joint Proxy Statement may be obtained free of charge from the sources indicated above.

**No Offer or Solicitation** 

This communication is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this communication is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in OSI2, OCSL or in any fund or other investment vehicle managed by Oaktree or any of its affiliates.