Document:

EX-4.1

 Exhibit 4.1 

Copy No.: 
 For the Exclusive Use of:

 [●], 2018 
 Subscription
Documents For 
 OAKTREE STRATEGIC INCOME II, INC. 

 Copy No.:      

For the Exclusive Use of:      
  

 SUBSCRIPTION AGREEMENT 

Oaktree Strategic Income II, Inc. 
 c/o Oaktree Capital
Management, L.P. 
 333 S. Grand Avenue, 28th Floor 
 Los
Angeles, CA 90071 
 Ladies and Gentlemen: 

1.    Subscription.  

(a)    The undersigned (the “Investor”) subscribes for and agrees to purchase shares of common stock, par value
$0.001 per share, (the “Shares”) of Oaktree Strategic Income II, Inc. (the “Company,” “we,” “our” or “us”) with a capital commitment (“Capital Commitment”) in the amount set forth on the
signature page below. The Investor acknowledges and agrees that this subscription (i) is irrevocable on the part of the Investor, (ii) is conditioned upon acceptance by or on behalf of the Company, and (iii) may be accepted or
rejected in whole or in part by the Company in its sole discretion. The Investor has read, acknowledges and is aware of all the terms and provisions of the Company’s Confidential Private Placement Memorandum, as amended, restated and/or
supplemented from time to time (the “Memorandum”), the Company’s Amended and Restated Certificate of Incorporation attached hereto as Appendix A, as amended from time to time (the “Charter”), the Company’s Amended
and Restated Bylaws attached hereto as Appendix B, as amended from time to time (the “Bylaws”), the Investment Advisory Agreement with Oaktree Capital Management, L.P., our investment adviser (the “Adviser”) attached hereto
as Appendix C, as amended from time to time (the “Advisory Agreement”), the Administration Agreement between the Company and Oaktree Fund Administration, LLC, our administrator (the “Administrator”) attached hereto as
Appendix D, as amended from time to time (the “Administration Agreement,” and together with the Memorandum, the Charter, the Bylaws and the Advisory Agreement, the “Operative Documents”), together with this Subscription
Agreement (the “Subscription Agreement”). Capitalized terms not defined herein are used as defined in the Memorandum. The Company expects to enter into separate Subscription Agreements (the “Other Subscription Agreements,” and,
together with this Subscription Agreement, the “Subscription Agreements”) with other investors (the “Other Investors,” and together with the Investor, the “Investors”), providing for the sale of Shares to the Other
Investors. This Subscription Agreement and the Other Subscription Agreements are separate agreements, and the sales of Shares to the undersigned and the Other Investors are separate sales. 

(b)    The Investor agrees to purchase Shares for an aggregate purchase price equal to its Capital Commitment, payable at
such times and in such amounts as required by the Company, under the terms and subject to the conditions set forth herein. On each Capital Drawdown Date (as defined below), the Investor agrees to purchase from the Company, and the Company agrees to
issue to the Investor, a number of Shares equal to the Drawdown Share Amount (as defined below) at an aggregate price equal to the Drawdown Purchase Price (as defined below); provided, however, that in no circumstance will an Investor
be required to purchase Shares for an amount in excess of its Unused Capital Commitment (as defined below). 

  
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 “Drawdown Purchase Price” shall mean, for each Capital Drawdown Date, an amount in U.S. dollars
determined by multiplying (i) the aggregate amount of Capital Commitments being drawn down by the Company from all Investors on that Capital Drawdown Date, by (ii) a fraction, the numerator of which is the Unused Capital Commitment of the
Investor and the denominator of which is the aggregate Unused Capital Commitments of all Investors that are not Defaulting Investors or Excluded Investors (as defined below). For the avoidance of doubt, the Drawdown Purchase Price shall be
determined after giving effect to the Catch-Up Purchase Price (as described below). 
 “Drawdown Share
Amount” shall mean, for each Capital Drawdown Date, a number of Shares determined by dividing (i) the Drawdown Purchase Price for that Capital Drawdown Date by (ii) the applicable Per Share Price (as defined below), which may be a
fractional amount, to the extent required. 
 “Per Share NAV” shall mean, for any Capital Drawdown Date or
Catch-Up Date (as defined below), the net asset value per Share, as determined by the Company’s board of directors (the “Board”), as of the end of the most recent calendar quarter prior to the
Capital Drawdown Date (as defined below). 
 “Per Share Price” shall mean, for any Capital Drawdown Date or
Catch-Up Date (as defined below), the Per Share NAV; provided, that the Per Share Price shall be subject to the limitations of Section 23 under the Investment Company Act of 1940, as amended (the
“Investment Company Act”); provided, further, however, in the event that the Per Share NAV is less than zero, as of the first Capital Drawdown Date that occurs immediately following the Initial Closing (as defined below),
then solely for the purpose of such Capital Drawdown Date, the Per Share Price shall be deemed to equal $20.00. 
 “Unused Capital Commitment”
shall mean, with respect to an Investor, the amount of such Investor’s Capital Commitment as of any date reduced by the aggregate amount of contributions made by that Investor at all previous Capital Drawdown Dates and any Catch-Up Date pursuant to Section 1(b) and Section 2(c), respectively. 

2.    Closings. 

(a)    The Company held its initial closing on August 6, 2018 (the “Initial Closing”) when it first
accepted subscriptions for Shares from unaffiliated Investors pursuant to this offering. Additional Investors may subscribe for Shares at one or more closings after the Company’s Initial Closing (each, a “Subsequent Closing”). The
Initial Closing and each Subsequent Closing are each referred to as a “Closing.” 
 (b)    The Investor agrees
to provide any information reasonably requested by the Company to verify the accuracy of the representations contained herein, including, without limitation, the investor questionnaire (the “Investor Questionnaire”). Promptly after the
Closing, the Company will deliver to the Investor or its representative, if the Investor’s subscription has been accepted, a letter confirming the Company’s acceptance of the Investor’s subscription. 

  
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 (c)     

(i)    The Company may enter into Other Subscription Agreements with Other Investors on a Subsequent
Closing and any Other Investor whose subscription has been accepted at such Subsequent Closing referred to as a “Subsequent Investor.” Notwithstanding the provisions of Sections 1(b) and 3, on one or more dates to be determined by the
Company that occur on or following the Subsequent Closing but no later than the next succeeding Capital Drawdown Date (each, a “Catch-Up Date”), each Subsequent Investor shall be required to purchase
from the Company, on no less than ten (10) calendar days’ prior notice, a number of Shares with an aggregate purchase price necessary to ensure that, upon payment of the aggregate purchase price for such Shares by the Subsequent Investor
in the aggregate for all Catch-Up Dates, such Subsequent Investor’s Net Contributed Capital Percentage (as defined below) shall be equal to the Net Contributed Capital Percentage of all prior Investors
(other than any Defaulting Investors, Excluded Investors or any Other Investor who has subscribed on prior Subsequent Closings and have not yet funded the Catch-Up Purchase Price) (the “Catch-Up Purchase Price”). Upon payment of the Catch-Up Purchase Price by the Investor on a Catch-Up Date and payment by
Other Investors of the requisite amount, the Company shall issue to each such Subsequent Investor a number of Shares determined by dividing (x) the Catch-Up Purchase Price for such Subsequent Investor
minus the Organizational Expense Allocation (as defined below) by (y) the Per Share Price for such Subsequent Investor as of a Catch-Up Date. For the avoidance of doubt, in the event that the Catch-Up Date and a Capital Drawdown Date occur on the same calendar day, such Catch-Up Date (and the application of the provisions of this Section 2(c)) shall be deemed
to have occurred immediately prior to the relevant Capital Drawdown Date. 
 (ii)    For the purposes of
this Subscription Agreement: 
 (A)     “Net Contributed Capital Percentage” means, with
respect to an Investor, the percentage determined by dividing such Investor’s Net Contributed Capital (as defined below) by such Investor’s Capital Commitment. 

(B)    “Net Contributed Capital” means (i) the aggregate amount of capital contributions
that have been made by all Investors in respect of their Shares, less (ii) the aggregate amount of distributions categorized as Returned Capital (as defined below) made by the Company to all Investors in respect of their Shares. For the
avoidance of doubt, Net Contributed Capital will not take into account distributions of the Company’s investment income (i.e., proceeds received in respect of interest payments, dividends or fees, net of expenses) to the Investors. Net
Contributed Capital with respect to an Investor shall be calculated on the basis of such Investor’s capital contributions and distributions made to such Investor categorized as Returned Capital (as defined below). 

(C)    “Returned Capital” means (i) any portion of distributions made by the Company to an
Investor during the Investment Period (as defined below) which represents (A) proceeds realized from the sale or repayment of any investment (as opposed to investment income) during the Investment Period (but not in excess of the cost of any
such investment) or (B) a return of such Investor’s capital contributions to the Company, as determined by the Board, and (ii) any amount drawn down by the Company from unused Capital Commitments to pay the management fees, incentive
fees, organizational expenses or Company expenses. 

  
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 (D)    “Organizational Expense Allocation”
means, with respect to an Investor, the product obtained by multiplying (x) a fraction, the numerator of which is such Investor’s Capital Commitment and the denominator of which is the total Capital Commitments received by the Company to
date by (y) the lesser of (a) a dollar amount equal to two million dollars ($2,000,000) and (b) the total amount of organizational expenses spent by the Company in connection with the Company’s formation. 

(d)    At each Capital Drawdown Date, all Investors, including Subsequent Investors, shall purchase Shares in accordance
with the provisions of Section 1(b); provided, however, that notwithstanding the foregoing, the definitions of Drawdown Share Amount and Per Share Price and the provisions of Section 3(b), nothing in this Subscription
Agreement shall prohibit the Company from issuing Shares to Subsequent Investors at a Per Share Price greater than the Per Share NAV at the time of issuance. 

(e)    In the event that any Investor is permitted by the Company to make an additional capital commitment to purchase
Shares on a date after its initial subscription has been accepted, such Investor will be required to enter into a separate Subscription Agreement with the Company, it being understood and agreed that such separate Subscription Agreement will be
considered to be an Other Subscription Agreement for the purposes of this Subscription Agreement. 
 3.    Capital
Drawdowns. 
 (a)    Subject to Section 3(f), purchases of Shares will take place on dates selected by the
Company in its sole discretion (each, a “Capital Drawdown Date”) and shall be made in accordance with the provisions of Section 1(b). 

(b)    The Company shall deliver to the Investor, at least ten (10) calendar days prior to each Capital Drawdown
Date, a notice (a “Funding Notice”) setting forth (i) the Capital Drawdown Date, (ii) the aggregate number of Shares to be sold to all Investors on the Capital Drawdown Date and the aggregate purchase price for such Shares,
(iii) the applicable Drawdown Share Amount, Drawdown Purchase Price and Per Share Price and (iv) the account to which the Drawdown Purchase Price should be wired. 

(c)    The delivery of a Funding Notice to the Investor shall be the sole and exclusive condition to the Investor’s
obligation to pay the Drawdown Share Purchase Price identified in each Funding Notice, and shall represent the Company’s acceptance of the Investor’s irrevocable and ongoing offer to purchase Shares. 

(d)    On each Capital Drawdown Date, the Investor shall pay the Drawdown Purchase Price to the Company by bank wire
transfer in immediately available funds in U.S. dollars to the account specified in the Funding Notice. 

  
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 (e)    State Street Bank and Trust Company or any other person as
determined by the Board in its discretion will act as transfer agent and registrar for the Shares (the “Transfer Agent”), unless and until, either the Company or the Transfer Agent decides to terminate the agreement between the parties.

 (f)    The Company may draw Capital Commitments from the Investors at any time during the period from the Initial
Closing through the earlier of the (a) completion of a Liquidity Event (as defined below), and (b) the fifth anniversary of the Initial Closing (the “Investment Period”), unless the Investment Period is earlier terminated in
connection with a Key Person Event (as defined in Section 10(a)). A “Liquidity Event” means: at the discretion of the Board: (a)(i) the listing of the Company’s common stock on a national securities exchange or (ii) an
initial public offering of the Company’s common stock that results in gross proceeds to the Company of at least $50 million and a listing of the common stock on a national securities exchange (each of (i) and (ii), a “Qualified
Listing”) or (b) with the consent of a majority of outstanding shares of common stock not affiliated with the Adviser and in accordance with the applicable requirements of Delaware law, a corporate control transaction, which may include a
strategic sale of the Company or all or substantially all of its assets to, or a merger with, another entity, or another type of corporate control event, which may include, but is not limited to, a transaction with an affiliated entity, including an
affiliated business development company, for consideration in cash or publicly listed securities of such entity or a combination of cash and such publicly listed securities (each, a “Corporate Control Transaction”). Following the end of
the Investment Period, any Unused Capital Commitment (other than any Defaulted Commitment (as defined below)) shall automatically be reduced to zero, except to the extent necessary (a) to fund management fees and the other liabilities and
expenses of the Company, including the repayment of the Company’s indebtedness and expenses expected to be incurred in connection with the wind down of the Company, (b) to complete investments or funding obligations (including guarantees)
that are the subject of a written commitment as of the end of the Investment Period (including investments providing for funding in phases), (c) to make “follow-on” investments (as defined below) in
an aggregate amount not to exceed 20% of total Capital Commitments or undrawn Capital Commitments, whichever is less (d) to fulfill obligations with respect to any Drawdown Purchase Price due from an Investor on a Capital Drawdown Date that
such Investor fails to pay, and (e) as necessary for the Company to comply with applicable laws and regulations, including the Investment Company Act and the U.S. Internal Revenue Code of 1986, as amended (the “Code”) (collectively,
“Runoff Activities”). “Follow-on investments” are investments in respect of any portfolio company in which the Company has previously invested or in entities whose business is related to or
complementary to that of an existing portfolio company that the Adviser determines are appropriate or necessary for the Company to invest in for the purpose of preserving, protecting or enhancing the value of such prior investments. Furthermore, the
Investor will still be subject to any Distribution Fees (as defined below) due under any Distribution Fee Funding Notices (as defined below). 

(g)    Notwithstanding anything to the contrary contained in this Subscription Agreement, the Company shall have the right
(a “Limited Exclusion Right”) to exclude any Investor (such Investor, an “Excluded Investor”) from purchasing Shares from the Company on any Capital Drawdown date if, in the reasonable discretion of the Company, there is a
substantial likelihood that such Investor’s purchase of Shares at such time would (i) result in a violation of, 

  
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or noncompliance with, any law or regulation to which such Investor, the Company, the Adviser, any Other Investor or a portfolio company would be subject or (ii) cause the investments of
“Benefit Plan Investors” (within the meaning of Section 3(42) of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and certain Department of Labor regulations) to be significant and the assets of
the Company to be considered “plan assets” under ERISA or Section 4975 of the Code. 
 (h)    Pursuant to
a placement agent agreement (“Placement Agent Agreement”) by and between the Company and OCM Investments, LLC (“OCM Investments”), certain Investors will be required to pay a quarterly distribution fee (the “Distribution
Fee”) directly to OCM Investments or an affiliate thereof (or as otherwise set forth in the Distribution Fee Funding Notice), equal to amounts as set forth in Appendix E (if applicable), provided that the Distribution Fee will be waived
for certain Investors, including Investors that Company determines, in its sole discretion, to have been sourced by the Company, the Adviser, OCM Investments or their respective affiliates. Separate agreements with other broker-dealers may be
entered into for their assistance in sourcing qualified investors. OCM Investments will pay fees to these other brokers, which may include some or all of the Distribution Fees paid to OCM Investments by the Investors sourced by that broker-dealer.
Investors sourced by other broker-dealers may be charged a fee, in addition to the Distribution Fee, by that broker of up to [___]% of the Investors’ Capital Commitment, in the discretion of that broker (the
“Up-Front Placement Fee”). By executing this Agreement, the Investor acknowledges such Distribution Fee and/or Up-Front Placement Fee, and, in particular, the
information set forth in Appendix F (if applicable). At the time such Distribution Fee is due (the “Distribution Fee Drawdown Date”), the Company shall deliver to the Investor, at least ten (10) calendar days prior to the
Distribution Fee Drawdown Date, a notice (a “Distribution Fee Funding Notice”) setting forth the Distribution Fee Drawdown Date, the amount of the Distribution Fee being drawn down and the account to which the Distribution Fee should be
wired. The delivery of a Distribution Fee Funding Notice shall be the sole and exclusive condition to the Investor’s obligation to pay the Distribution Fee identified in the Distribution Fee Funding Notice. On each Distribution Fee Drawdown
Date, the Investor shall pay the Distribution Fee to OCM Investments (or as otherwise set forth in the Distribution Fee Funding Notice) by bank wire transfer in immediately available funds in U.S. dollars to the account specified in the Distribution
Fee Funding Notice. 
 4.    Pledging. 

(a)    Without limiting the generality of the foregoing, the Investor specifically agrees and consents that the Company
may, at any time, and without further notice to or consent from the Investor (except to the extent otherwise provided in this Subscription Agreement), grant security over and, in connection therewith, Transfer (as defined in Section 8(d)) some
or all of the Unused Capital Commitments of the Investor, including the Company’s right to deliver Funding Notices or otherwise draw down capital from the Investor pursuant to Section 3, and receive the Drawdown Share Purchase Price (and
any rights and remedies of the Company related thereto), to lenders or other creditors or holders of other obligations or guarantees of the Company, in connection with any indebtedness, guarantee or surety of the Company (such right of the Company
with respect to the Investor and Other Investors, collectively, the “Assigned Rights”); provided, that, for the avoidance of doubt, any such grantee’s right to draw down 

  
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capital shall be subject to the limitations on the Company’s right to draw down capital pursuant to Section 3; provided, further, that, for the avoidance of doubt, the
Company may exclude from such Assigned Rights all or a portion of the Assigned Rights of any Investors that are officers or directors of the Company and certain other persons, to the extent restricted under, or considered by the Board to be
necessary or desirable to facilitate compliance with, applicable laws or regulations, including the ERISA, the Investment Company Act and the Sarbanes-Oxley Act of 2002, as amended. 

(b)    In furtherance of Section 4(a) and without limiting the generality of the foregoing, the Investor specifically
agrees and consents that the Company may, in each case subject to such other conditions as the Company may reasonably determine, (i) authorize any lender or other creditors or holders of other obligations or guarantees of the Company, including
any agent or trustee acting on their behalf, as agent and on behalf of the Company, or in such other capacity as the Company may specify (A) to exercise from time to time Assigned Rights, (B) to issue Funding Notices and to require all or
any portion of such Unused Capital Commitment to be contributed to the Company for purposes of paying such funds to a lender or other creditor or holders of other obligations or guarantees, including by payment to an account or accounts pledged to a
lender, a creditor or such holder, (C) to exercise any right or remedy of the Company under this Subscription Agreement in respect of any Assigned Rights or in respect of any Funding Notice, capital contributions or Unused Capital Commitment,
and (D) to enforce the Investors’ obligations under their respective Subscription Agreements, and (ii) take any other action the Company reasonably determines to be necessary for the purpose of providing such Assigned Rights
(collectively, clauses (i) and (ii), the “Lender Powers”); provided that any exercise of such Lender Powers shall be made in accordance with this Subscription Agreement. In addition, the Company is hereby authorized to provide
to or receive from any lender or other creditors or holders of other obligations or guarantees, including any agent or trustee acting on their behalf, financial information related to the Investor, subject to applicable law. 

(c)    To facilitate the Company’s ability to incur and maintain borrowings or other financings or similar
obligations and to otherwise make available Assigned Rights and/or the right to exercise any Lender Power for such borrowings or other financings or similar obligations, the Investor acknowledges and agrees that: (i) in the event of a failure
by any Investor to pay all or any portion of the purchase price due from such Investor on any Capital Drawdown Date, in addition to the Lending Powers, the related creditor or lender may issue additional Funding Notices to all other Investors in
order to make up any deficiency caused by the failure of such Investor to pay, whose ownership in the Company would be diluted as a result, provided that no Investor is required to fund more than its Unused Capital Commitments, (ii) its
obligation to fund Funding Notices pursuant to Section 3 is irrevocable, and shall be without setoff, counterclaim or defense, including any defense under Section 365(c) of the U.S. Bankruptcy Code, (iii) it has received full and
adequate consideration on the date hereof for its subscription for the Shares, and any defense of non-consideration or similar defenses for its subscription are hereby irrevocably waived, whether in
bankruptcy, insolvency, receivership or similar proceedings or otherwise, including any failure or inability of the Company to issue Shares or for any such Shares to have positive value; (iv) any claims that it may have against the Company,
shall be subordinated to any payment due to lenders or other creditors or holders of other obligations or guarantees of the Company under such borrowings or other financings or 

  
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similar obligations; (v) it may be required to execute and deliver such documents and take such actions as may be necessary or desirable, as determined by the Company in its sole discretion,
to obtain, maintain and comply with the terms of such borrowings or other financings or similar obligations; and (vi) the Company may provide a lender or other creditor or holder of other obligations or guarantees of the Company with the right
to receive detailed due diligence and credit related information regarding the Investor. 
 (d)    Notwithstanding
anything herein to the contrary, any lender or other person granted a lien with respect to any of the Assigned Rights and/or the right to exercise any Lender Power shall be intended beneficiary of this Subscription Agreement and shall be entitled to
enforce the provisions of this Section 4. 
 (e)    The Investor agrees to cooperate with the Company and provide
financial information and other documentation reasonably and customarily required to obtain any credit facility or other financing arrangement. The Company may deliver any financial or other information relating to the Company or any Investor to any
lender under any borrowings or other indebtedness as such lender may request. 
 5.    Distributions. 

(a)    As described more fully in the Memorandum, subject to the requirements of Section 852(a) of Subchapter M of
the Code, and the terms of any borrowings or other financings or similar obligations, and as determined by the Board in its discretion, the Company intends to distribute to its Investors, out of assets legally available for distribution,
(i) pro rata based on the number of Shares held by the Investor, before the end of each taxable year, or in certain cases, during the following taxable year, net proceeds attributable to the repayment or disposition of investments
(together with any interest, dividends and other net cash flow in respect of such investments), except to the extent such proceeds from repayment or disposition are retained for reinvestment prior to the termination of the Investment Period in
accordance with Section 5(c), (ii) substantially all of the Company’s available earnings, on a quarterly basis (i.e., proceeds received in respect of interest payments, dividends or fees, net of expenses, as opposed to proceeds received in
connection with the disposition or repayment of an investment), (iii) an amount of the Company’s investment company taxable income and net capital gain for each taxable year sufficient to qualify for treatment as a regulated investment company
under Subchapter M of the Code, and avoid the imposition of federal income taxes on the Company under Section 852(b) of the Code, for any such taxable year, and (iv) for each calendar year the Company’s ordinary income and capital
gain net income realized during the periods set forth in Section 4982(b) of the Code to the extent required for the Company to avoid imposition of federal excise tax under Section 4982 of the Code for any such calendar year. Without
limiting the foregoing, the Investor specifically agrees and consents that, depending on the level of taxable income and net capital gain earned in a year, the Company may choose to carry forward taxable income or net capital gain for distribution
in the following year and pay the applicable U.S. federal excise tax. 
 (b)    The Company intends to make
distributions in cash. The Investor and the Company agree and acknowledge that any dividends received by the Investor shall have no effect on the amount of the Investor’s Unused Capital Commitment. 

  
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 (c)    Subject to the requirements of Section of Section 852(a) of
the Code and the terms of any borrowings or other financings or similar obligations, proceeds realized by the Company from the sale or repayment of any investment (as opposed to investment income) during the Investment Period (but not in excess of
the cost of any such investment), may be retained and be used by the Company for purposes of making investments or paying management fees, incentive fees or Company expenses. Any amounts so reinvested will not reduce an Investor’s Unused
Capital Commitment. 
 6.    Remedies Upon Investor Capital Drawdown Default. In the event that an Investor fails
to pay all or any portion of the purchase price due from such Investor on any Capital Drawdown Date (such amount, together with the full amount of such Investor’s remaining Capital Commitment, a “Defaulted Commitment”) and such
default remains uncured for a period of five (5) days, the Company shall be permitted to declare such Investor to be in default of its obligations under this Subscription Agreement (any such Investor, a “Defaulting Investor”) and
shall be permitted to pursue one or any combination of the following remedies: 
 (a)    The Company may prohibit the
Defaulting Investor from purchasing additional Shares on any future Capital Drawdown Date or otherwise participating in any future investments in the Company; 

(b)    Two-thirds of the Shares then held by the Defaulting Investor shall be
automatically transferred on the books of the Company, without any further action being required on the part of the Company or the Defaulting Investor, to the Other Investors (other than any defaulting Other Investor), pro rata in accordance
with their respective Capital Commitments; provided, however, that notwithstanding anything to the contrary contained in this Subscription Agreement, no Shares shall be transferred to any Other Investor pursuant to this
Section 6(b) in the event that such Transfer (as defined in Section 8(d)) would (x) violate the Securities Act of 1933, as amended (the “Securities Act”), Investment Company Act or any state (or other jurisdiction)
securities or “Blue Sky” laws applicable to the Company or such Transfer (as defined in Section 8(d)), (y) constitute a non-exempt “prohibited transaction” under Section 406
of ERISA or Section 4975 of the Code or (z) cause all or any portion of the assets of the Company to constitute “plan assets” under ERISA or Section 4975 of the Code (it being understood that this proviso shall operate only
to extent necessary to avoid the occurrence of the consequences contemplated herein and shall not prevent the Investor from receiving a partial allocation of its pro rata portion of Shares); provided, further, that any Shares that have
not been transferred to one or more Other Investors pursuant to the previous proviso shall be allocated among the participating Other Investors pro rata in accordance with their respective Capital Commitments. The mechanism described
in this Section 6(b) is intended to operate as a liquidated damage provision, since the damage to the Company and Other Investors resulting from a default by the Defaulting Investor is both significant and not easily susceptible to precise
quantification. By entry into this Subscription Agreement, the Investor agrees to this Transfer (as defined in Section 8(d)) and acknowledges that it constitutes a reasonable liquidated damage remedy for any default in the Investor’s
obligation of the type described; and 
 (c)    The Company may pursue any other remedies against the Defaulting Investor
available to the Company, subject to applicable law. The Investor agrees that this Section 6 is solely for the benefit of the Company and shall be interpreted by the Company against a Defaulting Investor in the discretion of the Company. The
Investor further agrees that the Investor cannot and will not seek to enforce this Section 6 against the Company or any other investor in the Company. 

  
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 7.    Remedies Upon Distribution Fee Default. 

(a)    In the event that an Investor fails to pay all or any portion of the Distribution Fee (a “Distribution Fee
Default”) due from such Investor on any Distribution Fee Drawdown Date (the defaulted amount being the “Defaulted Distribution Fee Amount”) and such Distribution Fee Default remains uncured for a period of five (5) days, the
Company shall be permitted to declare such Investor to be in default of its obligations under this Subscription Agreement (any such Investor, a “Distribution Fee Defaulting Investor”) and shall be permitted to prohibit the Distribution Fee
Defaulting Investor from purchasing additional Shares on any future Capital Drawdown Date. 
 (b)    In addition, the
Investor acknowledges that in the event of a Distribution Fee Default, OCM Investments may transfer a number of Shares equal to the quotient of the Defaulted Distribution Fee Amount divided by the then-current net asset value per Share (as of the
end of the most recent calendar quarter prior to such transfer date, as determined by the Company’s Board and subject to the limitations of the Investment Company Act) then held by the Distribution Fee Defaulting Investor to OCM Investments,
without any further action being required on the part of the Company or the Distribution Fee Defaulting Investor; provided, however, that notwithstanding anything to the contrary contained in this Subscription Agreement, no Shares
shall be transferred to OCM Investments pursuant to this Section 7(b) in the event that such Transfer (as defined in Section 8(d)(i)) would (x) violate the Securities Act, Investment Company Act or any state (or other jurisdiction)
securities or “Blue Sky” laws applicable to the Company or such Transfer (as defined in Section 8(d)(i)), (y) constitute a non-exempt “prohibited transaction” under Section 406 of
ERISA or Section 4975 of the Code or (z) cause all or any portion of the assets of the Company to constitute “plan assets” under ERISA or Section 4975 of the Code (it being understood that this proviso shall operate only to
extent necessary to avoid the occurrence of the consequences contemplated herein and shall not prevent OCM Investments from receiving a partial allocation of Shares). By entry into this Subscription Agreement, the Investor agrees to this Transfer
(as defined in Section 8(d)(i)) and acknowledges that it constitutes a reasonable liquidated damage remedy for any default in the Investor’s obligation of the type described. 

(c)    Nothing in this Subscription Agreement shall be construed as limiting the rights of OCM Investments in the event of
a Distribution Fee Default, and OCM Investments may pursue any other remedies against any Distribution Fee Defaulting Investor available to OCM Investments, subject to applicable law. The Investor agrees that this Section 7 is solely for the
benefit of the Company and shall be interpreted by the Company against a Distribution Fee Defaulting Investor in the discretion of the Company. The Investor further agrees that the Investor cannot and will not seek to enforce this Section 7
against the Company, OCM Investments or any other investor in the Company. 
 8.    Representations and Warranties of
the Investor. To induce the Company to accept this subscription, the Investor represents and warrants as follows: 

  
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 (a)    This Subscription Agreement has been duly authorized, executed and
delivered by the Investor and, upon due authorization, execution and delivery by the Company, will constitute the valid and legally binding agreement of the Investor enforceable in accordance with its terms against the Investor, except as such
enforceability may be limited by (i) bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other laws of general application relating to or affecting the enforcement of creditors’ rights and remedies, as from time to
time in effect; (ii) application of equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law); and (iii) considerations of public policy or the effect of applicable law relating to
fiduciary duties. 
 (b)    The Shares to be acquired hereunder are being acquired by the Investor for the
Investor’s own account for investment purposes only and not with a view to resale or distribution. 
 (c)    The
Investor understands that the Company (i) intends to file or has filed, as the case may be, an election to be treated as a business development company under the Investment Company Act and (ii) intends to file an election to be treated as
a regulated investment company within the meaning of Section 851 of the Code, for U.S. federal income tax purposes; pursuant to those elections, the Investor will be required to furnish certain information to the Company as required under
Treasury Regulations § 1.852-6(a) and other regulations. If the Investor is unable or refuses to provide such information directly to the Company, the Investor understands that it will be required to
include additional information on its income tax return as provided in Treasury Regulation § 1.852-7. The Company intends to file or has filed, as the case may be, a registration statement on
Form 10 (the “Form 10 Registration Statement”) for its common stock with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
The Form 10 Registration Statement is not the offering document pursuant to which the Company is conducting this offering and may not include all information regarding the Company contained in the Memorandum; accordingly, Investors should rely
exclusively on information contained in the Operative Documents in making their investment decisions. 
 (d)     

(i) The Investor understands that the offering and sale of the Shares are intended to be exempt from registration under the
Securities Act, applicable U.S. state securities laws and the laws of any non-U.S. jurisdictions by virtue of the private placement exemption from registration provided in Section 4(2) of the Securities
Act, exemptions under applicable U.S. state securities laws and exemptions under the laws of any non-U.S. jurisdictions, and it agrees that any Shares acquired by the Investor may not be sold, offered for
sale, exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of (each, a “Transfer”) in any manner that would require the Company to register the Shares under the Securities Act, under any U.S. state securities laws
or under the laws of any non-U.S. jurisdictions. The Investor understands that the Company requires each investor in the Company to be an “accredited investor” as defined in Rule 501(a) of
Regulation D of the Securities Act (“Accredited Investor”) and the Investor represents and warrants that it is an Accredited Investor. 

  
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 (ii)    The Investor understands that the offering and
sale of the Shares in non-U.S. jurisdictions may be subject to additional restrictions and limitations, and represents and warrants that it is acquiring its Shares in compliance with all applicable laws,
rules, regulations and other legal requirements applicable to the Investor including, without limitation, the legal requirements of jurisdictions in which the Investor is resident and in which such acquisition is being consummated. Furthermore, the
Investor understands that all offerings and sales made outside of the United States will be made pursuant to Regulation S under the Securities Act. 

(e)     

(i) The Investor may not Transfer its Capital Commitment or, prior to a Qualified Listing, any of its Shares unless
(A) the Company provides its prior written consent, (B) the Transfer is made in accordance with applicable securities laws and (C) the Transfer is otherwise in compliance with the transfer restrictions set forth in Appendix G. No
Transfer will be effectuated except by registration of the Transfer on the Company’s books. Each transferee must agree to be bound by these restrictions and all other obligations as an investor in the Company. Following a Qualified Listing, the
Investor will be restricted from selling or disposing of its Shares by applicable securities laws, contractually by a lock-up agreement with any underwriters of the Qualified Listing, and pursuant to the terms
of this Subscription Agreement, including Section 8(g). 
 (ii)    The Investor acknowledges that
the Investor is aware and understands that there are other substantial restrictions on the transferability of Shares or Capital Commitment under this Subscription Agreement, the Operative Documents and under applicable law including, but not limited
to, the fact that (A) there is no established market for the Shares and it is possible that no public market for the Shares will develop; (B) the Shares are not currently, and the Investor has no rights to require that the Shares be,
registered under the Securities Act or the securities laws of the various states or any non-U.S. jurisdiction and therefore cannot be Transferred unless subsequently registered or unless an exemption from such
registration is available; and (C) the Investor may have to hold the Shares herein subscribed for and bear the economic risk of this investment indefinitely, and it may not be possible for the Investor to liquidate its investment in the
Company. The Investor acknowledges that it has no need for liquidity in this investment, has the ability to bear the economic risk of this investment, has the ability to retain its Shares for an indefinite period and at the present time and in the
foreseeable future can afford a complete loss of this investment. 
 (f)    Notwithstanding any other provisions of this
Subscription Agreement, the Investor covenants that it will not Transfer all or any part of the Shares or its Capital Commitment (or purport to do so) if such Transfer would cause (A) the Company or the Adviser to be in violation of the U.S.
Bank Secrecy Act, as amended, the U.S. Money Laundering Control Act of 1986, as amended, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), as amended, or
any similar U.S. federal, state or non-U.S. law or regulation; or (B) the Shares to be held by a country, territory, entity or individual currently subject to any U.S. sanctions administered by the Office
of Foreign Assets Control of the U.S. Treasury Department (“OFAC”) or any entity or individual that resides or has a place of business in, or is organized under the laws of, a country or territory that is subject to any sanctions
administered by OFAC. 

  
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 (g)    The Investor acknowledges and understands that for a period
beginning on the date of the completion of a Qualified Listing and continuing to and including the second anniversary of the completion of the Qualified Listing, the Investor will not, without the prior written consent of the Company, (i) sell,
offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or file (or participate in the filing of) a registration statement with the SEC in
respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the SEC promulgated thereunder with
respect to, any Shares of the Company or any securities convertible into or exercisable or exchangeable for Shares, or warrants or other rights to purchase Shares, (ii) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of Shares or any securities convertible into or exercisable or exchangeable for Shares, or warrants or other rights to purchase Shares, whether any such transaction is to be settled by
delivery of Shares or such other securities, in cash or otherwise, or (iii) publicly announce an intention to effect any transaction specified in clause (i) or (ii) (collectively, “Prohibited Activities”). 

Notwithstanding the foregoing, the Investor may, without any further action on the part of the Company (but subject to any underwriters’ lock-up or other contractual restriction the Investor may be a party to), beginning on the date that is 180 calendar days after the Qualified Listing, Transfer Shares in transactions exempt from registration under
the Securities Act (pursuant to Rule 144 or otherwise), provided that the number of Shares so Transferred (a) may not exceed 25% of the Investor’s Shares owned as of the completion of the Qualified Listing prior to 365 days after
the completion of the Qualified Listing; (b) may not exceed 50% of the Investor’s Shares owned as of the completion of the Qualified Listing prior to 540 days after the completion of the Qualified Listing; and (c) may not exceed 75%
of the Investor’s Shares owned as of the completion of the Qualified Listing prior to 720 days after the completion of the Qualified Listing; and provided, further that any Shares owned by the Investor as of the completion of the Qualified
Listing not previously Transferred as provided in this paragraph may be Transferred commencing 720 days after the completion of the Qualified Listing. 

(h)    The Investor has been furnished and has carefully read this Subscription Agreement, each Operative Document, in
each case as amended, restated and/or supplemented through the Closing of the Investor’s subscription for Shares, a current copy of the Proxy Voting Policies and Procedures of the Adviser and, to the extent the Investor is a natural person, a
current copy of the Adviser’s Privacy Notice. The Investor understands that the Company intends to file or files, as the case may be, periodic reports such as Form 10-K, Form 10-Q and Form 8-K with the SEC pursuant to the Exchange Act and that such reports are available to the Investor at the SEC’s website at www.sec.gov or upon
request from the Company and the Investor acknowledges that such reports are incorporated by reference into the Memorandum and it has had an opportunity to review such reports and ask questions of the Company’s management with respect to such
reports. The Investor has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Shares, is able to bear the risks of an investment in the Shares and understands
the risks of, and other considerations relating to, a purchase of Shares, including the matters set forth under the caption “Risk Factors” in the Memorandum. 

  
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 (i)    To the full satisfaction of the Investor, the Investor has been
furnished any materials the Investor has requested relating to the Company, the offering of Shares or any statement made in the Memorandum, and the Investor has been afforded the opportunity to ask questions of representatives of the Company
concerning the terms and conditions of the offering and to obtain any additional information necessary to verify the accuracy of any representations or information set forth in the Memorandum. 

(j)    Other than as set forth in this Subscription Agreement, the Operative Documents and any separate agreement in
writing with the Company executed in conjunction with the Investor’s subscription for Shares, the Investor is not relying upon any other information (including, without limitation, any advertisement, article, notice or other communication
published in any newspaper, magazine, website or similar media or broadcast over television or radio, and any seminars or meetings whose attendees have been invited by any general solicitation or advertising), representation or warranty by the
Company, its Adviser or any affiliate of the foregoing or any agent of them, written or otherwise, in determining to invest in the Company, and the Investor understands that the Memorandum is not intended to convey tax or legal advice. The Investor
has consulted to the extent deemed appropriate by the Investor with the Investor’s own advisers as to the financial, tax, legal, accounting, regulatory and related matters concerning an investment in Shares and on that basis understands the
financial, tax, legal, accounting, regulatory and related consequences of an investment in Shares, and believes that an investment in the Shares is suitable and appropriate for the Investor. 

(k)    If the Investor is not a natural person, (A) the Investor was not formed or recapitalized for the specific
purpose of acquiring any Shares in the Company, (B) the Investor has the power and authority to enter into this Subscription Agreement and each other document required to be executed and delivered by the Investor in connection with this
subscription for Shares, and to perform its obligations hereunder and thereunder and consummate the transactions contemplated hereby and thereby and (C) the person signing this Subscription Agreement on behalf of the Investor has been duly
authorized to execute and deliver this Subscription Agreement and each other document required to be executed and delivered by the Investor in connection with this subscription for Shares. If the Investor is a natural person, the Investor has all
requisite legal capacity to acquire and hold the Shares and to execute, deliver and comply with the terms of each of the documents required to be executed and delivered by the Investor in connection with this subscription for Shares. The execution
and delivery by the Investor of, and compliance by the Investor with, this Subscription Agreement and each other document required to be executed and delivered by the Investor in connection with this subscription for Shares does not violate,
represent a breach of, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement to which the Investor is a party or by which the Investor is bound. 

(l)    The Investor: (i) is not registered or required to be registered as an investment company under the Investment
Company Act; (ii) has not elected to be regulated as a business development company under the Investment Company Act; and (iii) either (A) is not 

  
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relying on the exception from the definition of “investment company” under the Investment Company Act set forth in Section 3(c)(1) or 3(c)(7) thereunder or (B) is otherwise
permitted to acquire and hold more than 3% of the outstanding voting securities of a business development company. The amount of the Investor’s subscription for Shares in the Company does not exceed 40% of the total assets (on a consolidated
basis with its subsidiaries) of the Investor. 
 (m)    The Investor understands that the Company is not registered as
an investment company under the Investment Company Act, and it acknowledges and agrees that the Company does not intend to register as an investment company under the Investment Company Act. 

(n)    To the best of the Investor’s knowledge, the Investor does not control, or is not controlled by or under
common control with, any other Investor or prospective investor in the Company. 
 (o)    Representations for Non-U.S. Persons. 
 (i)    If the Investor is not a “United
States Person,” as defined below (a “non-U.S. Person”), the Investor has heretofore notified the Company in writing of such status. For this purpose, “United States Person” means
a citizen or resident of the United States, a corporation, partnership or other entity created or organized in or under the laws of the United States or any political subdivision thereof, an estate the income of which is subject to United States
federal income taxation regardless of its source, or any trust (A) the administration of which may be subject to the primary supervision of a U.S. court and (B) the authority to control all of the substantial decisions of which is held by
one or more U.S. persons. 
 (ii)    The Investor will notify the Company immediately if the Investor
becomes a United States Person. 
 (iii)    The Investor is acquiring the Shares for its own account for
investment purposes only and is not subscribing on behalf of or funding its commitment with funds obtained from a United States Person. 

(iv)    Except for offers and sales to discretionary or similar accounts held for the benefit or account of
a non-U.S. Person by a U.S. dealer or other professional fiduciary, all offers to sell and offers to buy the Shares were made to or by the Investor while the Investor was outside the United States and at the
time the Investor’s order to buy the Shares originated (and at the time this Subscription Agreement was executed by the Investor) the Investor was outside the United States. 

(p)    The Investor represents that it either (1) is not (A) a pension, profit-sharing or other employee benefit
plan subject to ERISA or an IRA, Keogh plan or any other plan subject to Section 4975 of the Code, (B) an employee benefit plan that is a governmental plan (as defined in Section 3(32) of ERISA), a church plan (as defined in
Section 3(33) of ERISA) or a non-U.S. plan (as described in Section 4(b)(4) of ERISA) that is not subject to the requirements of ERISA or the Code but is subject to similar provisions under
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state, local, non-U.S or other laws (“Other Plan Law”) or (C) an entity whose underlying assets include “plan assets” by reason of
any such plan’s investment in the entity or (2) the purchase of the Shares will not constitute a non-exempt prohibited transaction under Section 406 of ERISA, Section 4975 of the Code or
under any applicable Other Plan Law. 
 (q)    The Investor agrees to notify the Company in writing in the event
(i) the Investor either becomes or ceases to be a “benefit plan investor” within the meaning of Section 3(42) of ERISA, as modified by 29 CFR 2510.3-101(f)(2) or under any Other Plan
Law (a “Benefit Plan Investor”), (ii) the Investor reasonably expects that the Investor will become or cease to be a Benefit Plan Investor, or (iii) if the Investor is an entity that is deemed to hold the assets of any of Plan
pursuant to ERISA or any Other Plan Law, the percentage of such Investor’s assets attributable to Plans either increases or decreases. The Investor also agrees to, within 15 business days of the receipt of a written request from the
Company, provide a written update to the Company with regard to any of the foregoing. If the Company, in its sole discretion, determines that so doing would be useful in ensuring that equity participation in the Company is not significant within the
meaning of 29 CFR 2510.3-101(f), the Company may require any Benefit Plan Investor to transfer some or all of its Shares for fair market value (as determined by the Company in its sole discretion) to an
Investor other than a Benefit Plan Investor (whether an existing Investor or a new Investor). The Investor shall have no claim against the Company, the Administrator, the Adviser or any of their respective affiliates for any form of damages or
liability as a result of any such transfer. 
 (r)    If the investment in the Shares is being made on behalf of an
employee benefit plan maintained outside of the United States primarily for the benefit of persons substantially all of whom are nonresident aliens (as described in Section 4(b)(4) of ERISA), (i) there is no provision in the instruments
governing such plan or any federal, state or local or foreign law, rule, regulation or constitutional provision applicable to the plan that could in any respect affect the operation of the Company, including operations of the Adviser as contemplated
by the Advisory Agreement, or prohibit any action contemplated by the Operative Documents and related disclosure of the Company, including, without limitation, the investments which may be made pursuant to the Company’s investment strategies,
the concentration of investments for the Company and the payment by the plan of incentive or other fees, and (ii) the plan’s investment in the Company will not conflict with or violate the instruments governing such plan or any federal,
state or local or foreign law, rule, regulation or constitutional provision applicable to the plan. 
 (s)    The
Investor was offered the Shares through private negotiations, not through any general solicitation or general advertising, and in the state listed in the Investor’s permanent address set forth in the Investor Questionnaire. 

(t)     

(i)    Neither the Investor, nor any of its affiliates or beneficial owners, (A) appears on the
Specially Designated Nationals and Blocked Persons List of OFAC, nor are they otherwise a party with which any entity is prohibited to deal under the laws of the United States, or (B) is a person identified as a terrorist organization on any
other relevant lists maintained by governmental authorities. The Investor further represents and 

  
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warrants that the monies used to fund the investment in the Shares are not derived from, invested for the benefit of, or related in any way to, the governments of, or persons within, any country
(1) under a U.S. embargo enforced by OFAC, (2) that has been designated as a “non-cooperative country or territory” by the Financial Action Task Force on Money Laundering or (3) that
has been designated by the U.S. Secretary of the Treasury as a “primary money laundering concern.” The Investor further represents and warrants that the Investor: (I) has conducted thorough due diligence with respect to all of its
beneficial owners, (II) has established the identities of all beneficial owners and the source of each of the beneficial owner’s funds and (III) will retain evidence of any such identities, any such source of funds and any such due
diligence. Pursuant to anti-money laundering laws and regulations, the Company may be required to collect documentation verifying the Investor’s identity and the source of funds used to acquire Shares before, and from time to time after,
acceptance by the Company of this Subscription Agreement. The Investor further represents and warrants that the Investor does not know or have any reason to suspect that (x) the monies used to fund the Investor’s investment in the Shares
have been or will be derived from or related to any illegal activities, including, but not limited to, money laundering activities, and (y) the proceeds from the Investor’s investment in the Shares will be used to finance any illegal
activities. 
 (ii)    The Investor will provide to the Company at any time such information as the
Company determines to be necessary or appropriate (A) to comply with the anti-money laundering laws, rules and regulations of any applicable jurisdiction and (B) to respond to requests for information concerning the identity of the
Investor from any governmental authority, self-regulatory organization or financial institution in connection with its anti-money laundering compliance procedures, or to update such information. 

(iii)    To comply with applicable U.S. anti-money laundering laws and regulations, all payments and
contributions by the Investor to the Company and all payments and distributions to the Investor from the Company will only be made in the Investor’s name and to and from a bank account of a bank based or incorporated in or formed under the laws
of the United States or that is regulated in and either based or incorporated in or formed under the laws of the United States and that is not a “foreign shell bank” within the meaning of the U.S. Bank Secrecy Act (31 U.S.C. § 5311 et
seq.), as amended, and the regulations promulgated thereunder by the U.S. Department of the Treasury, as such regulations may be amended from time to time. 

(iv)    The representations and warranties set forth in this Section 8(t) shall be deemed repeated
and reaffirmed by the Investor to the Company as of each date that the Investor is required to make a capital contribution to, or receives a distribution from, the Company. If at any time during the term of the Company, the representations and
warranties set forth in this Section 8(t) cease to be true, the Investor shall promptly so notify the Company in writing. 

(v)    The Investor understands and agrees that the Company may not accept any amounts from a prospective
Investor if such prospective Investor cannot make the representations set forth in this Section 8(t). 

  
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 (u)    In the event that the Investor is, receives deposits from, makes
payments to or conducts transactions relating to, a non-U.S. banking institution (a “Non-U.S. Bank”) in connection with the Investor’s investment in
Shares, such Non-U.S. Bank: (1) has a fixed address, other than an electronic address or a post office box, in a country in which it is authorized to conduct banking activities, (2) employs one or
more individuals on a full-time basis, (3) maintains operating records related to its banking activities, (4) is subject to inspection by the banking authority that licensed it to conduct banking activities and (5) does not provide
banking services to any other Non-U.S. Bank that does not have a physical presence in any country and that is not a registered affiliate. The Investor agrees and acknowledges that, among other remedial
measures, (A) in order to comply with governmental regulations and/or if the Company determines in its sole discretion that such action is in the best interests of the Company, the Company may “freeze the account” of the Investor,
either by prohibiting additional investments by the Investor, segregating assets of the Investor and/or suspending other rights the Investor may have under the Operative Documents and (B) the Company may be required to report such action or
confidential information relating to the Investor (including without limitation, disclosing the Investor’s identity) to regulatory authorities. 

(v)    The Investor acknowledges that, in order to comply with the provisions of the U.S. Foreign Account Tax Compliance
Act (“FATCA”) and avoid the imposition of U.S. federal withholding tax, the Company may, from time to time, require further information and/or documentation from the Investor and, if and to the extent required under FATCA, the
Investor’s direct and indirect beneficial owners (if any), relating to or establishing any such owner’s identity, residence (or jurisdiction of formation), income tax status, and other required information and may
provide or disclose such information and documentation to the U.S. Internal Revenue Service. The Investor agrees that it shall provide such information and documentation concerning itself and its beneficial owners, if any, as and when requested by
the Company sufficient for the Company to comply with its obligations under FATCA. The Investor acknowledges that, if the Investor does not provide the requested information and documentation, the Company may, at its sole option and in addition
to all other remedies available at law or in equity, prohibit additional investments, decline or delay any transfer requests by the Investor and/or deduct from such Investor’s account and retain amounts sufficient to indemnify and hold harmless
the Company from any and all withholding taxes, interest, penalties and other losses or liabilities suffered by the Company on account of the Investor’s not providing all requested information and documentation in a timely manner. The Investor
shall have no claim against the Company, the Administrator, the Adviser or any of their respective affiliates for any form of damages or liability as a result of any of the aforementioned actions. 

(w)    The Investor acknowledges that the Company intends to enter into one or more revolving credit facilities with one
or more syndicates of banks or to incur indebtedness in lieu of or in advance of capital contributions. In connection therewith, each Investor hereby agrees to cooperate with the Company and provide financial information and other documentation
reasonably and customarily required to obtain such facilities. 
 (x)    None of the information concerning the Investor
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in any document required to be provided under this Subscription Agreement (including, without limitation, the Investor Questionnaire, any Form W-9 or
relevant Form(s) W-8 (W-8BEN, W-8BEN-E, W-8IMY, W-8ECI or W-8EXP) and any CRS Self-Certification Form), as applicable, contains any untrue statement of a material fact or omits to state a material fact necessary in order to
make the statements contained therein or herein not misleading. 
 (y)    The Investor agrees that the foregoing
certifications, representations, warranties, covenants and agreements shall survive the acceptance of this Subscription Agreement, each Capital Drawdown Date and the dissolution of the Company, without limitation as to time. Without limiting the
foregoing, the Investor agrees to give the Company prompt written notice in the event that any statement, certification, representation or warranty of the Investor contained in this Section 8 or any information provided by the Investor herein
or in any document required to be provided under this Subscription Agreement (including, without limitation, the Investor Questionnaire, any Forms W-9 or relevant
Form(s) W-8 (W-8BEN, W-8BEN-E, W-8IMY, W-8ECI or W-8EXP) and any CRS Self-Certification Form), as applicable, ceases to be true at any time following the date hereof. 

(z)    The Investor agrees to provide such information and execute and deliver such documents as the Company may
reasonably request to verify the accuracy of the Investor’s representations and warranties herein or to comply with any law or regulation to which the Company, the Adviser, the Administrator or a portfolio company may be subject. 

(aa)    The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby and the
performance of the Investor’s obligations hereunder do not and will not conflict with, or result in any violation of or default under, (i) if the Investor is not a natural person, any provision of any certificate of formation, certificate
of incorporation, charter, by-laws, memorandum and articles of association, trust agreement, partnership agreement, limited liability company agreement or other organizational or governing instrument
applicable to the Investor, (ii) any agreement or other instrument, including any indenture, mortgage, deed of trust, credit agreement, note or other evidence of indebtedness, or any lease or other agreement or understanding to which the
Investor is a party or by which the Investor or any of its properties are bound, or (iii) any license, permit, franchise, judgment, decree, statute, writ, injunction, order, law, rule or regulation applicable to the Investor or to its business
or properties. In addition, the Investor represents that its power of attorney contained in this Agreement has been granted by the Investor, including as to the manner of any execution by the Investor, in compliance with all laws applicable to the
Investor, including the laws of the state or jurisdiction in which the Investor executed this Agreement. The Investor has obtained all authorizations, consents, approvals and clearances of all courts, governmental agencies and authorities and such
other persons, if any, required to permit the Investor to enter into this Agreement and to consummate the transactions contemplated hereby. 

(bb)    If the Investor is acting as trustee, agent, representative or nominee for an underlying subscriber, the Investor
understands and acknowledges that the representations, warranties and agreements made herein are made by the Investor (i) with respect to itself and (ii) with respect to such underlying subscriber. The Investor has delivered the Operative
Documents and, if such underlying subscriber is an Individual, the Privacy Notice to such underlying subscriber, and the Investor shall promptly deliver to such underlying subscriber any 

  
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supplements or amendments to any such documents that are delivered to the Investor or to which it has been provided access. The Investor has all requisite power and authority from such underlying
subscriber to execute and perform the obligations under this Agreement. If the Investor is not purchasing Shares for its own account, the Investor agrees to provide any additional documents and information that the Company reasonably requests. 

(cc)    The Investor acknowledges and agrees that Sullivan & Cromwell LLP and any other law firm retained by the
Company or the Adviser in connection with the organization of the Company, the offering of the Shares, the management and operation of the Company or any dispute between the Company or the Adviser, on the one hand, and any Investor, on the other
hand, is acting as counsel to the Company and/or the Adviser and as such does not represent or, to the fullest extent permitted by applicable law, owe any duty to the Investor, any other Investor or to the Investors as a group in connection with
such retention. 
 9.    Representations of the Company. To induce the Investor to accept this subscription, the
Company represents as follows: 
 (a)    The Company is empowered, authorized and qualified to enter into this
Subscription Agreement, the Advisory Agreement and the Administration Agreement, and each of the persons signing this Subscription Agreement, the Advisory Agreement and the Administration Agreement on behalf of the Company has been duly authorized
by the Company to do so. 
 (b)    The execution and delivery of this Subscription Agreement, the Advisory Agreement and
the Administration Agreement by the Company and the performance of its duties and obligations hereunder and thereunder do not and will not result in a breach of any of the terms, conditions or provisions of, or constitute a default under, any
indenture, mortgage, deed of trust, credit agreement, note or other evidence of indebtedness, or any lease or other agreement, or any license, permit, franchise or certificate, to which the Company is a party or by which it is bound or to which any
of its properties are subject, or require any authorization or approval under or pursuant to any of the foregoing, violate the organizational documents of the Company, or violate in any material respect any statute, regulation, law, order, writ,
injunction or decree to which the Company is subject. 
 (c)    The Company is not in default (nor has any event
occurred which with notice, lapse of time, or both, would constitute a default) in the performance of any obligation, agreement or condition contained in this Subscription Agreement, the Advisory Agreement and the Administration Agreement, any
indenture, mortgage, deed of trust, credit agreement, note or other evidence of indebtedness or any lease or other agreement or understanding, or any license, permit, franchise or certificate, to which it is a party or by which it is bound or to
which its properties are subject, nor is it in violation of any statute, regulation, law, order, writ, injunction, judgment or decree to which it is subject, which default or violation would materially adversely affect the business or financial
condition of the Company or impair the Company’s ability to carry out its obligations under this Subscription Agreement or the Advisory Agreement. 

(d)    There is no litigation, investigation or other proceeding pending or, to the knowledge of the Company, threatened
against the Company that, if adversely determined, would materially adversely affect the business or financial condition of the Company or the ability of the Company to perform its obligations under this Subscription Agreement, the Advisory
Agreement and the Administration Agreement. 

  
 -20- 

 Copy No.:      

For the Exclusive Use of:      
  

 (e)    The Shares to be issued and sold by the Company to the Investor
hereunder have been duly authorized and, when issued and delivered to the Investor against payment therefore as provided in this Subscription Agreement, will be validly issued, fully paid and non-assessable.

 10.    Cancellation Following Key Person Event. 

(a)    A “Key Person Event” will occur if, during the Investment Period, Edgar Lee or his Qualified Replacement
(as defined below, each a “Key Executive”) fails to remain actively involved in the investment activities of the Company (a “Key Person Event”). In the event of the occurrence of a Key Person Event, the Company will send written
notice to the Investors within ten (10) business days of such occurrence and the Investment Period will automatically be suspended (the “Suspension Period”) until the appointment of a Qualified Replacement or the reinstatement of the
Investment Period by the directors, as described below, after which, in either case, the Suspension Period shall terminate and the Investment Period shall be reinstated. During the Suspension Period, Investors will not be obligated to pay amounts
due under Funding Notices that the Company may issue other than in respect of Runoff Activities. If during the 60-day period following the sending of written notice (the “Notice Period”), the Key
Executive has not been replaced by a Qualified Replacement, the Company will convene a meeting of the Company’s directors who are not “interested persons” of the Company (as such term is defined in Section 2(a)(19) of the
Investment Company Act) to be held not more than 30 days following the expiration of the Notice Period for the purpose of determining whether the Investment Period will be continued. If a majority of such directors do not vote to approve the
continuation of the Investment Period, then the Investment Period will terminate and the Investors will thereafter be obligated to pay amounts due under Funding Notices that the Company may issue for Runoff Activities. For the avoidance of doubt,
following the termination of the Investment Period pursuant to the foregoing, any Unused Capital Commitment (other than any Defaulted Commitment) will automatically be reduced to zero, except to the extent necessary to pay amounts due under drawdown
notices the Company may thereafter issue for Runoff Activities. 
 (b)    “Qualified Replacement” means a
senior investment professional selected by the Adviser; provided that such replacement has been approved by either (a) a majority of the directors who are not “interested persons” of the Company (as such term is defined in
Section 2(a)(19) of the Investment Company Act) or (b) the holders of a majority of the outstanding Shares, and upon either such approval, such nominee will constitute a “Qualified Replacement.” 

11.    Further Advice and Assurances. All information which the Investor has provided to the Company, including the
information in the Investor Questionnaire, is true, correct and complete as of the date hereof, and the Investor agrees to notify the Company immediately if any representation, warranty or information contained in this Subscription Agreement or any
of the information in the Investor Questionnaire becomes untrue at any time. The Investor agrees to provide such information and execute and deliver such documents with 

  
 -21- 

 Copy No.:      

For the Exclusive Use of:      
  

 
respect to itself and its direct and indirect beneficial owners as the Company may from time to time reasonably request to verify the accuracy of the Investor’s representations and
warranties herein, establish the identity of the Investor and the direct and indirect participants in its investment in Shares, to the extent applicable, to effect any transfer and admission and/or to comply with any law, rule or regulation to which
the Company may be subject, including, without limitation, compliance with anti-money laundering laws and regulations or for any other reasonable purpose. 

12.    Power of Attorney. 

(a)    The Investor, by its execution hereof, hereby irrevocably makes, constitutes and appoints the Company as its true
and lawful agent and attorney-in-fact, with full power of substitution and full power and authority in its name, place and stead, to make, execute, sign, acknowledge,
swear to, record and file: 
 (i)    any and all filings required to be made by the Investor under the
Exchange Act with respect to any of the Company’s securities which may be deemed to be beneficially owned by the Investor under the Exchange Act; 

(ii)    all agreements, certificates and other instruments deemed advisable or appropriate by the Company
in order for the Company to enter into any borrowing or pledging arrangement and to grant any pledge or other security interest, including over the Investor’s Capital Commitment or Shares, in connection therewith; 

(iii)    all certificates and other instruments deemed advisable by the Company to comply with the
provisions of this Subscription Agreement and applicable law or to permit the Company to become or to continue as a business development company; and 

(iv)    all other instruments or papers not inconsistent with the terms of this Subscription Agreement
which may be required by law to be filed on behalf of the Company. 
 (b)    With respect to the Investor and the
Company, the foregoing power of attorney: 
 (i)    is coupled with an interest and shall be irrevocable;

 (ii)    may be exercised by the Company either by signing separately as
attorney-in-fact for the Investor or, after listing all of the Investors executing an instrument, by a single signature of the Company acting as attorney-in-fact for all of them; 

(iii)    shall survive the assignment by the Investor of the whole or any fraction of its Shares; 

(iv)    shall terminate concurrently with the termination of the Capital Commitment, in accordance with
Section 3(f); and 

  
 -22- 

 Copy No.:      

For the Exclusive Use of:      
  

 (v)    may not be used by the Company in any manner that
is inconsistent with the terms of this Subscription Agreement and any other written agreement between the Company and the Investor. 

13.    Indemnity. The Investor understands that the information provided herein (including the
Investor Questionnaire) will be relied upon by the Company for the purpose of determining the eligibility of the Investor to purchase Shares in the Company. The Investor agrees to provide, if requested, any additional information that may reasonably
be required to determine the eligibility of the Investor to purchase Shares in the Company. To the fullest extent permitted under applicable law, the Investor agrees to indemnify and hold harmless the Company, the Adviser, the Administrator, and
their affiliates and each partner, member, officer, director, employee, and agent thereof, from and against any loss, damage or liability due to or arising out of a breach of any representation, warranty or agreement of the Investor contained in
this Subscription Agreement (including the Investor Questionnaire) or in any other document provided by the Investor to the Company or in any agreement executed by the Investor in connection with the Investor’s investment in Shares. 

14.    Miscellaneous. This Subscription Agreement is not transferable or assignable by the Investor. Any purported
assignment of this Subscription Agreement will be null and void. The representations and warranties made by the Investor in this Subscription Agreement (including the Investor Questionnaire) shall survive the closing of the transactions contemplated
hereby and any investigation made by the Company. The Investor Questionnaire, including without limitation the representations and warranties contained therein, is an integral part of this Subscription Agreement and shall be deemed incorporated by
reference herein. This Subscription Agreement may be executed in one or more counterparts, all of which together shall constitute one instrument. Notwithstanding the place where this Subscription Agreement may be executed by any of the parties
hereto, the parties expressly agree that this Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the choice of law principles thereof. To the fullest extent
permitted by law, the sole and exclusive forum for any action, suit or proceeding with respect to this Subscription Agreement shall be a federal or state court located in the state of Delaware, and each party hereto, to the fullest extent permitted
by law, hereby irrevocably waives any objection that it may have, whether now or in the future, to the laying of venue in, or to the jurisdiction of, any and each of such courts for the purposes of any such action, suit or proceeding and further
waives any claim that any such action, suit or proceeding has been brought in an inconvenient forum, and each party hereto hereby submits to such jurisdiction and consents to process being served in any such action, suit or proceeding, without
limitation, by United States mail addressed to the party at the parties address specified herein or in the Investor Questionnaire. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATED TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, TO THE FULLEST EXTENT PERMITTED BY LAW. 

15.    Confidentiality. The Investor acknowledges that the Memorandum and other information relating to the Company
has been submitted to the Investor on a confidential 

  
 -23- 

 Copy No.:      

For the Exclusive Use of:      
  

 
basis for use solely in connection with the Investor’s consideration of the purchase of Shares. The Investor agrees that, without the prior written consent of the Company (which consent may
be withheld at the sole discretion of the Company), the Investor shall not (a) reproduce the Memorandum or any other information relating to the Company (including, without limitation any future information provided to the Investor as to the
Company’s estimated net asset value or net asset value per share, asset levels, financial performance or other financial or operating results prior to the filing of such information with the SEC), in whole or in part, or (b) disclose the
Memorandum or any other such information relating to the Company to any person who is not an officer or employee of the Investor who is involved in its investments, or partner (general or limited) or affiliate of the Investor (it being understood
and agreed that if the Investor is a pooled investment fund, it shall only be permitted to disclose the Memorandum or other information related to the Company if the Investor has required its investors to enter into confidentiality undertakings no
less onerous than the provisions of this Section 15), except to the extent (1) such information is in the public domain (other than as a result of any action or omission of Investor or any person to whom the Investor has disclosed such
information) or (2) such information is required by applicable law or regulation to be disclosed. The Investor further agrees to return the Memorandum and any other information relating to the Company if no purchase of Shares is made or upon
the Company’s request therefore. The Investor acknowledges and agrees that monetary damages would not be sufficient remedy for any breach of this section by it, and that in addition to any other remedies available to the Company in respect of
any such breach, the Company shall be entitled to specific performance and injunctive or other equitable relief as a remedy for any such breach. 

16.    Notice. All notices, consents, requests, demands, offers, reports, and other communications (collectively,
“Notices”) required or permitted to be given pursuant to this Subscription Agreement shall be in writing and shall be given, made or delivered by personal hand-delivery, by facsimile transmission, by electronic mail, or by air courier
guaranteeing overnight delivery, addressed as set forth below. Notice shall be deemed given on the date of service or transmission if personally served or transmitted by facsimile transmission or by electronic mail; provided, that if such
service or transmission is not on a business day or is after normal business hours, then such notice shall be deemed given on the next business day. Notice otherwise sent as provided herein shall be deemed given on the next business day following
timely delivery of such Notice to an air courier guaranteeing overnight delivery. 
 If to the Company, to: 

Oaktree Strategic Income II, Inc. 

c/o Oaktree Capital Management, L.P. 

333 S. Grand Avenue, 28th Floor 

Los Angeles, CA 90071 

Attention:        Mary Gallegly 

E-mail:            
mgallegly@oaktreecapital.com 
 and, if to the Investor, to the address set forth in the Investor Questionnaire. The Company or the Investor may
change its address by giving notices to the other in the manner described herein. 

  
 -24- 

 Copy No.:      

For the Exclusive Use of:      
  

 17.    Necessary Acts, Further Assurances. The parties shall at
their own cost and expense execute and deliver such further documents and instruments and shall take such other actions as may be reasonably required or appropriate to evidence or carry out the intent and purposes of this Subscription Agreement or
to show the ability to carry out the intent and purposes of this Subscription Agreement. 
 18.    No Joint Liability
Among the Company, the Adviser, and the Administrator. The Company shall not be liable for the fulfillment of any obligation or the accuracy of any representation of the Adviser or the Administrator under or in connection with this Subscription
Agreement. The Adviser shall not be liable for the fulfillment of any obligation or the accuracy of any representation of the Company or the Administrator under or in connection with this Subscription Agreement. The Administrator shall not be liable
for the fulfillment of any obligation or the accuracy of any representation of the Company or the Adviser under or in connection with this Subscription Agreement. There shall be no joint and several liability of the Company, the Adviser, and the
Administrator for any obligation under or in connection with this Subscription Agreement. 
 19.    Independent
Nature of Investors’ Obligations and Rights; Third-Party Beneficiaries. The obligations of the Investor hereunder are several and not joint with the obligations of any Other Investor. Nothing contained herein or in any other agreement or
document delivered at any closing, and no action taken by the Investor pursuant hereto or thereto, shall be deemed to constitute the Investors as a partnership, an association, a joint venture or any other kind of entity, or create a presumption
that the Investors are in any way acting in concert with respect to such obligations or the transactions contemplated by this Subscription Agreement. This Subscription Agreement is not intended to confer upon any person, other than the parties
hereto, except as provided in Sections 3(h), 4, 7(b) and 12, any rights or remedies hereunder. 
 [remainder of page intentionally left
blank] 

  
 -25- 

 Copy No.:      

For the Exclusive Use of:      
  

 IN WITNESS WHEREOF, the undersigned has executed this Subscription Agreement on the date set
forth below. 
  

							
	Date:
                                         
       	 		 	Amount of Capital Commitment
				
		 		 	$	 	 
			
		 		 	 INDIVIDUAL, JOINT IN TENANCY,

INDIVIDUAL IRA INVESTOR:

			
		 		 	  

		 		 		 	                    (Print Name)
			
		 		 	  

		 		 		 	                    (Signature)
			
		 		 	 PARTNERSHIP, CORPORATION, LIMITED

LIABILITY COMPANY, TRUST, CUSTODIAL
 ACCOUNT, OTHER
INVESTOR:

			
		 		 	  

		 		 		 	                    (Print Name of Entity)
				
		 		 	By:	 	 
		 		 		 	                    (Signature)
			
		 		 	  

		 		 		 	                    (Print Name and Title)

 Agreed and accepted as of the _____ day of __________: 

 

			
	OAKTREE STRATEGIC INCOME II, INC.
		
	By:	 	 
	Name:
	Title:

  
 -26- 

 ATTACHMENT 1 

ACCREDITED INVESTOR QUESTIONNAIRE 

(TO BE COMPLETED BY ALL INVESTORS) 

Instructions: The Investor represents and warrants that the Investor is an “accredited investor” within the meaning of Rule 501 of
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and has checked the box or boxes below which are next to the category or categories under which the Investor qualifies as an accredited investor:

 FOR INDIVIDUALS, INDIVIDUAL IRAS, JOINT IN TENANCY: 
  

					
	❑	  	(A)	  	A natural person with individual net worth (or joint net worth with spouse) in excess of $1 million. For purposes of this item, “net worth” means the excess of total assets at fair market value, including automobiles
and other personal property and property owned by a spouse, but excluding the value of the primary residence of such natural person, over total liabilities. For this purpose, the amount of any mortgage or other indebtedness secured by an
Investor’s primary residence should not be included as a “liability”, except to the extent the fair market value of the residence is less than the amount of such mortgage or other indebtedness.
			
	❑	  	(B)	  	A natural person with individual income (without including any income of the Investor’s spouse) in excess of $200,000, or joint income with spouse in excess of $300,000, in each of the two most recent years and who reasonably
expects to reach the same income level in the current year.
	
	FOR ENTITIES:
			
	❑	  	(A)	  	An entity, including a grantor trust, in which all of the equity owners are accredited investors (for this purpose, a beneficiary of a trust is not an equity owner, but the grantor of a grantor trust may be an equity
owner).
			
	❑	  	(B)	  	A bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary
capacity.

  
 Attachment 1
- Page 1 

					
			
	❑	  	(C)	  	An insurance company as defined in Section 2(a)(13) of the Securities Act.
			
	❑	  	(D)	  	A broker-dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
			
	❑	  	(E)	  	An investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”).
			
	❑	  	(F)	  	A business development company as defined in Section 2(a)(48) of the Investment Company Act.
			
	❑	  	(G)	  	A Small Business Investment Company licensed by the Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958, as amended.
			
	❑	  	(H)	  	A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended (the “Advisers Act”).
			
	❑	  	(I)	  	A corporation, an organization described in Section 501(c)(3) of the United States Internal Revenue Code of 1986, as amended, Massachusetts or similar business trust, or partnership, in each case not formed for the specific
purpose of acquiring Shares, with total assets in excess of $5 million.
			
	❑	  	(J)	  	A trust with total assets in excess of $5 million not formed for the specific purpose of acquiring Shares, whose purchase is directed by a person with such knowledge and experience in financial and business matters as to be
capable of evaluating the merits and risks of an investment in the Shares.
			
	❑	  	(K)	  	An employee benefit plan within the meaning of the United States Employee Retirement Income Security Act of 1974, as amended (“ERISA”) if the decision to invest in the Shares is made by a plan fiduciary, as defined in
Section 3(21) of ERISA, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5 million or, if a self-directed plan, with
investment decisions made solely by persons that are accredited investors.

  
 Attachment 1
- Page 2 

					
			
	❑	  	(L)	  	A plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if the plan has total assets in excess of
$5 million.

  
 Attachment 1
- Page 3 

 By your signature on this page you represent, warrant and covenant that each of your beneficial
owners (the total number of which is listed below your signature below) is an “accredited investor,” as such term is defined in rule 501 of Regulation D promulgated under the Securities Act. 

 

							
		 		 	THE INVESTOR
				
	Date of Execution:                                 	 		 		 	
			
		 		 	 
		 		 	[Please Print or Type Name of the INVESTOR]
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:
			
		 		 	Your Total Number of Beneficial Owners:
			
		 		 	 

  
 Attachment 1
- Page 4 

 ATTACHMENT 2 

QUESTIONNAIRE 
 (TO
BE COMPLETED BY INDIVIDUALS ONLY) 
 Instructions: To enable the Company to determine your eligibility to purchase Shares in the
Company, please complete this Attachment 2 only if you are investing as an individual. Please check those statements below which apply to you and, if necessary, provide such other information requested in the space provided.

 You understand that the determination of its eligibility to purchase Shares in the Company will be made by the Company in
its sole discretion. 
  

	A.	 Restricted Persons. 

(Initial as Appropriate) 
  

							
		 	  
	    	1.	  	Broker-Dealers. You are a member of FINRA (a “FINRA member”) or other broker-dealer.1
				
		 	  
	    	2.	  	Broker-Dealer Personnel. You are (a) an officer, director, general partner, associated person,2 or employee of a FINRA member or any other broker-dealer (other
than a limited business broker-dealer);3 (b) an agent of a FINRA member or any other broker-dealer (other than a limited business broker-dealer) that is engaged in the investment banking or
securities business; or (c) an immediate family member4 of a person specified in (a) or (b) if the person specified in (a) or (b): (i) materially supports,5 or receives

  
  

 

	1 	 “Broker-dealer” means any broker-dealer, including a
non-U.S. broker-dealer. 

	2 	 The FINRA by-laws define a person associated with a FINRA member as
(a) a natural person who is registered or has applied for registration under the rules of the FINRA, and (b) a sole proprietor, partner, officer, director or branch manager of a FINRA member, or any natural person occupying a
similar status or performing similar functions, or any natural person engaged in the investment banking or securities business who is directly or indirectly controlling or controlled by such member, whether or not such person is registered or exempt
from registration with the FINRA. 

	3 	 “Limited business broker-dealer” means any broker-dealer whose authorization to engage in the
securities business is limited solely to the purchase and sale of investment company/variable contracts securities and direct participation program securities. 

	4 	 “Immediate family member” means a person’s parents, mother-in-law or father-in-law, spouse, brother or sister,
brother-in-law or sister-in-law, son-in-law or daughter-in-law, and children, and any other individual to whom the person provides material support.

	5 	 “Material support” means directly or indirectly providing more than 25% of a person’s
income in the prior calendar year. In addition, members of the immediate family living in the same household are deemed to be providing each other with material support. 

  
 Attachment 2
- Page 1 

					
		    		    	material support from, the immediate family member; (ii) is employed by or associated with a FINRA member or an affiliate of a FINRA member that sells or has sold New Issues to the immediate family member; or
(iii) has an ability to control the allocation of New Issues.
			
	  
	    	3.	    	Finders and Fiduciaries. You are (a) a finder or any person who acts or has acted in a fiduciary capacity to a managing underwriter, including, but not limited to, attorneys, accountants and financial consultants;
or (b) an immediate family member of a person specified in (a) if the person specified in (a) materially supports, or receives material support from, the immediate family member.
			
	  
	    	4.	    	Portfolio Managers. You are (a) a person who has authority to buy or sell securities for a bank, savings and loan institution, insurance company, investment company, investment advisor, or collective investment
account;6 or (b) an immediate family member of a person specified in (a) if the person specified in (a) materially supports, or receives material support from, the immediate
family member.
			
	  
	    	5.	    	Broker-Dealer Owners. You are (a) listed, or required to be listed, in Schedule A of a Form BD7 (other than with respect to a limited business
broker-dealer), except if you are identified by an ownership code of less than 10%; (b) listed, or required to be listed, in Schedule B of a Form BD (other than with respect to a limited business broker-dealer), except if your
listing on Schedule B relates to an ownership interest in a person listed on Schedule A identified by an ownership code of less than 10%; (c) listed, or required to be listed, in Schedule C of a Form BD that meets the
criteria of (a) and (b) above; (d) a person that directly or indirectly owns 10% or more of a public reporting company listed, or required to be listed, in Schedule A of a Form BD (other than a reporting company that is
listed on a national securities exchange, or other than with respect to a limited business broker-dealer); (e) a person that directly or indirectly owns 25% or more of a public reporting company listed, or required to be listed, in
Schedule B of a Form BD (other than a reporting company that is listed on a national securities exchange, or other than with respect to a limited business broker-dealer); or

  
  

 

	6 	 “Collective investment account” means any hedge fund, investment partnership, investment
corporation, or any other collective investment vehicle that is engaged primarily in the purchase and/or sale of securities. A collective investment account does not include a legal entity that is beneficially owned solely by immediate family
members (a “family investment vehicle”) or a group of friends, neighbors, business associates, or others that pool their money to invest in stock or other securities and are collectively responsible for making investment decisions
(an “investment club”). 

	7 	 Form BD means Uniform Application for Broker-Dealer Registration. Schedule A of a Form BD provides information
on the direct owners and executive officers of the applicant. 

  
 Attachment 2
- Page 2 

					
		    		    	(f) an immediate family member of a person specified in (a)-(e) if the person owning the broker-dealer: (i) materially supports, or receives material support from, the immediate family member; (ii) is
an owner of a FINRA member, or an affiliate of a FINRA member, that sells or has sold New Issues to the immediate family member; and (iii) has an ability to control the allocation of New Issues.

 OR 
  

							
		 	  
	    	6.	  	None of the above statements are applicable.

 If you initialed any of items 1-5 above, please skip Section B and sign below.

 If you initialed item 6, please proceed to Section B. 
  

	B.	 Potentially Restricted Persons 

(Please Initial if Applicable) 
  

					
	  
	    	1.	    	Executive Officer or Director of a Public Company. You are an executive officer or director of a Public Company8 (if so, please provide the name of such Public Company:
__________________________).
			
	  
	    	2.	    	Executive Officer or Director of a Covered Non-Public Company. You are an executive officer or director of a Covered Non-Public Company 9 (if so, please provide the name of such Covered Non-Public Company: ______________________).
			
	  
	    	3.	    	Materially Supported. You are a person materially supported10 by an executive officer or director of a Public Company or a Covered
Non-Public Company (if so, please provide the name of such Public Company or Covered Non-Public Company: _____________________).

  

	8 	 “Public Company” is any company that is registered under section 12 of the Securities and
Exchange Act of 1934, as amended (the “Exchange Act”) or files periodic reports pursuant to section 15(d) of the Exchange Act. 

	9 	 “Covered Non-Public Company” means any non-public company satisfying the following criteria: (a) income of at least $1 million in the last fiscal year or in two of the last three fiscal years and shareholders’ equity of at least
$15 million; (b) shareholders’ equity of at least $30 million and a two-year operating history; or (c) total assets and total revenue of at least $75 million in the
latest fiscal year or in two of the last three fiscal years. 

	10 	 “Materially Support” means directly or indirectly providing more than 25% of a person’s
income in the prior calendar year. Persons living in the same household are deemed to be providing each other with material support. 

  
 Attachment 2
- Page 3 

 OR 
  

					
		    	4.	  	None of the above statements are applicable.

 Please sign below. 

The Investor, by signing below, certifies the truth, accuracy and completeness of its responses to this Questionnaire as of the date thereof. 

 

									
					
	Date:	 	 	 	20__	 		 	
					
	By:	 	 	 		 		 	
		 	Signature	 		 		 	
					
		 	 	 		 		 	 
		 	Name (Print)	 		 		 	Title
				
	Name of Person to Contact with Questions:	 		 		 	
					
	Name:	 	 	 		 		 	
					
	Telephone:	 	 	 		 		 	
					
	Email:	 	 	 		 		 	

  
 Attachment 2
- Page 4 

 ATTACHMENT 3 

QUESTIONNAIRE 
 (TO
BE COMPLETED BY ENTITIES ONLY) 
 Instructions: To enable the Company to determine your eligibility to purchase Shares in the
Company, please complete this Attachment 3 only if you are an entity. Please check those statements below by initialing those statements below which apply to you and, if you are acting as a nominee for another person, which apply
to such person for whom you are acting as nominee and, if necessary, provide such other information requested in the space provided. 

You understand that the determination of its eligibility to purchase Shares in the Company will be made by the Company in its sole
discretion. 
  

	A.	 Unrestricted Persons. 

(Initial as Appropriate) 
  

					
	  
	    	1.	    	You are an investment company registered under the Investment Company Act of 1940.
			
	  
	    	2.	    	You are a common trust fund or similar fund11 that (a) has investments from 1,000 or more accounts; and (b) does not limit beneficial interests12 in the fund principally to trust accounts of persons listed in Section B, below (“Restricted Persons”).
			
	  
	    	3.	    	You are an insurance company general, separate or investment account provided that: (a) the account is funded by premiums from 1,000 or more policyholders, or, if You are a general account, the insurance company has
1,000 or more policyholders; and (b) the insurance company does not limit the policyholders whose premiums are used to fund the account principally to Restricted Persons, or, if You are a general account, the insurance company does not
limit its policyholders principally to Restricted Persons.
			
	  
	    	4.	    	You are a corporation, partnership, limited liability company, trust or other entity and the beneficial interests of Restricted Persons do not exceed in the aggregate 10% of such entity. If you limit the participation by Restricted
Persons to no more than 10% of the profits and losses of New Issues, you may initial this statement. 

 

	11 	 As described in section 3(a)(12)(A)(iii) of the U.S. Securities and Exchange Act of 1934 as amended (the
“Exchange Act”). 

	12 	 “Beneficial Interest” means any economic interest, such as the right to share in gains or
losses. The receipt of management or performance based fee for operating a collective investment account, or other fees for acting in a fiduciary capacity, is not be considered a beneficial interest in the account. 

  
 Attachment 3
- Page 1 

					
			
	  
	    	5.	    	You are a publicly traded entity (other than a broker-dealer or an affiliate of a broker-dealer where such broker-dealer is authorized to engage in the public offering of New Issues either as a selling group member or underwriter)
that: (a) is listed on a national securities exchange; or (b) is a foreign issuer whose securities meet the quantitative designation criteria for listing on a national securities exchange.
			
	  
	    	6.	    	You are an investment company organized under the laws of a foreign jurisdiction that: (a) does not limit its ownership to high net worth investors, (b) is listed on a foreign exchange for sale to the public
or authorized for sale to the public by a foreign regulatory authority; and (c) has no person that is a Restricted Person owning more than 5% its shares.
			
	  
	    	7.	    	You are an employee benefit plan subject to the Employee Retirement Income Security Act of 1974, as amended that (a) is qualified under section 401(a) of the Code; and (b) is not sponsored solely by a
broker-dealer.
			
	  
	    	8.	    	You are a state or municipal government benefits plan that is subject to state and/or municipal regulation.
			
	  
	    	9.	    	You are a tax-exempt charitable organization under section 501(c)(3) of the Code.
			
	  
	    	10.	    	You are church plan under section 414(e) of the Code.
	
	OR
			
	  
	    	11.	    	None of the above statements are applicable.

 If you initialed any of items 1-10 above (other than item 4), please skip
Sections B, C and D and sign below. 
 If you initialed item 4, please skip Section B and proceed to Section C. 

If you initialed item 11, please proceed to Section B. 

  
 Attachment 3
- Page 2 

	B.	 Restricted Persons. 

(Initial as Appropriate) 
  

					
	  
	    	1.	    	Broker-Dealers. You or a Person that has a beneficial interest in you is a member of FINRA (a “FINRA member”) or other broker-dealer.13
			
		    		    	If “yes” with respect to a natural person that has a beneficial interest in you, then the aggregate beneficial ownership of all such natural persons represents the following percentage of the Investor:
			
		    		    	__________% of the Investor
			
	  
	    	2.	    	Broker-Dealer Personnel. You or a Person that has a beneficial interest in you is (a) an officer, director, general partner, associated person,14 or employee
of a FINRA member or any other broker-dealer (other than a limited business broker-dealer);15 (b) an agent of a FINRA member or any other broker-dealer (other than a limited
business broker-dealer) that is engaged in the investment banking or securities business; or (c) an immediate family member16 of a person specified in (a) or (b) if the
person specified in (a) or (b): (i) materially supports,17 or receives material support from, the immediate family member; (ii) is employed by or associated
with a FINRA member or an affiliate of a FINRA member that sells or has sold New Issues to the immediate family member; or (iii) has an ability to control the allocation of New Issues.

  
  
  

 
  

 

	13 	 “Broker-dealer” means any broker-dealer, including a non-U.S.
broker-dealer. 

	14 	 The FINRA by-laws define a person associated with a FINRA member as
(a) a natural person who is registered or has applied for registration under the rules of the FINRA, and (b) a sole proprietor, partner, officer, director or branch manager of a FINRA member, or any natural person occupying a
similar status or performing similar functions, or any natural person engaged in the investment banking or securities business who is directly or indirectly controlling or controlled by such member, whether or not such person is registered or exempt
from registration with the FINRA. 

	15 	 “Limited business broker-dealer” means any broker-dealer whose authorization to engage in the
securities business is limited solely to the purchase and sale of investment company/variable contracts securities and direct participation program securities. 

	16 	 “Immediate family member” means a person’s parents, mother-in-law or father-in-law, spouse, brother or sister,
brother-in-law or sister-in-law, son-in-law or daughter-in-law, and children, and any other individual to whom the person provides material support.

	17 	 “Material support” means directly or indirectly providing more than 25% of a person’s
income in the prior calendar year. In addition, members of the immediate family living in the same household are deemed to be providing each other with material support. 

  
 Attachment 3
- Page 3 

					
		    		    	If “yes” with respect to a natural person that has a beneficial interest in you, then the aggregate beneficial ownership of all such natural persons represents the following percentage of the Investor:
			
		    		    	__________% of the Investor
			
	  
	    	3.	    	Finders and Fiduciaries. You or a Person that has a beneficial interest in you is (a) a finder or any person who acts or has acted in a fiduciary capacity to a managing underwriter, including, but not limited to,
attorneys, accountants and financial consultants; or (b) an immediate family member of a person specified in (a) if the person specified in (a) materially supports, or receives material support from, the immediate family
member.
			
		    		    	If “yes” with respect to a natural person that has a beneficial interest in you, then the aggregate beneficial ownership of all such natural persons represents the following percentage of the Investor:
			
		    		    	__________% of the Investor
			
	  
	    	4.	    	Portfolio Managers. You or a Person that has a beneficial interest in you is (a) a person who has authority to buy or sell securities for a bank, savings and loan institution, insurance company, investment
company, investment advisor, or collective investment account;18 or (b) an immediate family member of a person specified in (a) if the person specified in (a) materially
supports, or receives material support from, the immediate family member.
			
		    		    	If “yes” with respect to a natural person that has a beneficial interest in you, then the aggregate beneficial ownership of all such natural persons represents the following percentage of the Investor:
			
		    		    	__________% of the Investor

  

	18 	 “Collective investment account” means any hedge fund, investment partnership, investment
corporation, or any other collective investment vehicle that is engaged primarily in the purchase and/or sale of securities. A collective investment account does not include a legal entity that is beneficially owned solely by immediate family
members (a “family investment vehicle”) or a group of friends, neighbors, business associates, or others that pool their money to invest in stock or other securities and are collectively responsible for making investment decisions
(an “investment club”). 

  
 Attachment 3
- Page 4 

					
			
	  
	    	5.	    	Broker-Dealer Owners. You or a Person that has a beneficial interest in you is (a) listed, or required to be listed, in Schedule A of a Form BD19 (other than
with respect to a limited business broker-dealer), except if you are identified by an ownership code of less than 10%; (b) listed, or required to be listed, in Schedule B of a Form BD (other than with respect to a limited business
broker-dealer), except if your listing on Schedule B relates to an ownership interest in a person listed on Schedule A identified by an ownership code of less than 10%; (c) listed, or required to be listed, in Schedule C of a Form BD
that meets the criteria of (a) and (b) above; (d) a person that directly or indirectly owns 10% or more of a public reporting company listed, or required to be listed, in Schedule A of a Form BD (other than a reporting company that
is listed on a national securities exchange, or other than with respect to a limited business broker-dealer); (e) a person that directly or indirectly owns 25% or more of a public reporting company listed, or required to be listed, in
Schedule B of a Form BD (other than a reporting company that is listed on a national securities exchange, or other than with respect to a limited business broker-dealer); or (f) an immediate family member of a person specified in (a)-(e)
if the person owning the broker-dealer: (i) materially supports, or receives material support from, the immediate family member; (ii) is an owner of a FINRA member, or an affiliate of a FINRA member, that sells or has sold
New Issues to the immediate family member; and (iii) has an ability to control the allocation of New Issues.
			
		    		    	If “yes” with respect to a natural person that has a beneficial interest in you, then the aggregate beneficial ownership of all such natural persons represents the following percentage of the Investor:
			
		    		    	__________% of the Investor
	
	OR
			
		    	6.	    	None of the above statements are applicable.
	
	If you initialed item 6, please proceed to Section C.
	
	If you initialed any of items 1-5, please skip Sections C and D and sign below.
		
	C.	    	Potentially Restricted Person

  

	19 	 Form BD means Uniform Application for Broker-Dealer Registration. Schedule A of a Form BD provides information
on the direct owners and executive officers of the applicant. 

  
 Attachment 3
- Page 5 

					
	
	(Initial as Appropriate)
			
	  
	    	1.	    	Beneficial Interest in a Potentially Restricted Person. You are a corporation, partnership trust or other entity in which a person described in any of (a) to (c) below has a beneficial interest (each, a
“Potentially Restricted Person”):
			
		    		    	(a) an executive officer or director of a Public Company;20
			
		    		    	(b) an executive officer or director of a Covered Non-Public Company;21
			
		    		    	(c) a person materially supported22 by an executive officer or director of a Public Company or a Covered Non-Public Company;
	
	If you have checked this item please indicate the company or companies on whose behalf such executive officers or directors serve and the percentage share of profits or losses attributable to New Issues to be received by
all Potentially Restricted Participants related to each such company:

  

					
	 Name of Company
	  	 	  	 Share of Profits

			
	  
	  		  	  

			
	  
	  		  	  

  

					
	  
	    	2.	    	 The above statement is not applicable.

 If you initialed item 1 above, please proceed to Section D. 

If you initialed item 2 above, please sign below. 
  

	D.	 Certain Entity Investors. 

 

	20 	 “Public Company” is any company that is registered under section 12 of the Exchange Act or
files periodic reports pursuant to section 15(d) of the Exchange Act. 

	21 	 “Covered Non-Public Company” means any non-public company satisfying the following criteria: (a) income of at least $1 million in the last fiscal year or in two of the last three fiscal years and shareholders’ equity of at least
$15 million; (b) shareholders’ equity of at least $30 million and a two-year operating history; or (c) total assets and total revenue of at least $75 million in the
latest fiscal year or in two of the last three fiscal years. 

	22 	 “Materially Support” means directly or indirectly providing more than 25% of a person’s
income in the prior calendar year. Persons living in the same household are deemed to be providing each other with material support. 

  
 Attachment 3
- Page 6 

 Do you permit your beneficial owners that are Restricted Persons or Potentially Restricted Persons, if any,
to participate in profits and losses allocated to you that are attributable to New Issues? 
 (Please initial one) 

 

					
	Yes:___________	    	No:__________	  	

 If the answer above is “No” please sign below. If the answer above is “yes” please complete the
question below. 
 Please initial and complete the following: 

______            You allocate _____% of the new issue profits and losses that you receive
to beneficial owners that are Restricted Persons or Potentially Restricted Persons. 
 Please sign below. 

The Investor, by signing below, certifies the truth, accuracy and completeness of its responses to this Questionnaire as of the date thereof. 

 

									
					
	Date:	 	 	 	20__	 		 	
					
	By:	 	 	 		 		 	
		 	Signature	 		 		 	
					
		 	 	 		 		 	 
		 	Name (Print)	 		 		 	Title
				
	Name of Person to Contact with Questions:	 		 		 	
					
	Name:	 	 	 		 		 	
					
	Telephone:	 	 	 		 		 	
					
	Email:	 	 	 		 		 	

  
 Attachment 3
- Page 7 

 ATTACHMENT 4 

ADDITIONAL QUESTIONNAIRE 

(TO BE COMPLETED BY ALL INVESTORS) 

Instructions: Please complete this Attachment 4 in its entirety. 

1.    Are you a “Benefit Plan Investor”1 or will you use the assets of a Benefit Plan Investor to invest in the Company (a “Benefit Plan Investor”)? 

 

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 2.    Answer this Question only if the answer to Question (1) above is
“yes”: What is the percentage of your assets that constitutes “plan assets” subject to ERISA or section 4975 of the Code? 

                       
  % 
 3.a.    Answer this Question only if the answer to Question (1) above is “yes”:
Are you investing the assets of a “plan” described in and subject to Section 4975(e)(1)(B)-(F) of the Code (such as an individual retirement account and a Roth IRA)? 

 

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

  

	1	 The term “Benefit Plan Investor” means: 

•     Any “employee benefit plan” as defined in section 3(3) of the U.S. Employee Retirement Income Security
Act of 1974, as amended (“ERISA”) that is subject to ERISA. This includes employee welfare benefit plans (generally, plans that provide for health, medical or other welfare benefits) and employee pension benefit plans (generally, plans
that provide for retirement or pension income). 
 •     Any “plan” described in section 4975(e)(1) of the
U.S. Internal Revenue Code of 1986, as amended (the “Code”) that is subject to section 4975 of the Code. Generally, such a plan includes an “individual retirement account” plan, a Keogh plan, a pension plan, an Archer MSA
described in section 220(d) of the Code, a Coverdell education savings account described in section 530 of the Code and a health saving account described in section 223(d) of the Code. 

•     Any entity that is, or would be deemed to be using (under DOL Regulation 2510.3-101 as modified by section 3(42)
of ERISA), “plan assets” to purchase or hold its investments, such as a master trust or a plan assets fund. 

  
 Attachment 4
- Page 1 

 3.b.    Answer this Question only if the answer to Question (3.a.)
above is “yes”: Are you represented by an “independent fiduciary”2 that is not the IRA owner or a relative of the IRA
owner3? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 If the answer to Question (3.b.) above is “no” please contact Oaktree for further information
that may be required. 
  
 2     Independent Fiduciary is defined under the Fiduciary Rule to mean (i) a bank as defined in Section 202 of the Advisers Act or similar institution that is
regulated and supervised and subject to periodic examination by a State or Federal agency, (ii) an insurance carrier which is qualified under the laws of more than one state to perform the services of managing, acquiring or disposing of assets
of a plan, (iii) an investment adviser registered under the Advisers Act or, if not registered as an investment adviser under the Advisers Act by reason of paragraph (1) of Section 203A of the Advisers Act, is registered as an
investment adviser under the laws of the State (referred to in such paragraph (1)) in which it maintains its principal office and place of business, (iv) a broker-dealer registered under the Exchange Act or (v) an otherwise independent
fiduciary that holds, or has under its management and control, total assets of at least $50 million. 

3     Please note that if you are an IRA and the Plan Fiduciary making the decision to
purchase or hold any Interest is the owner, beneficiary of the IRA, or relative of the IRA owner/beneficiary (such as a spouse, ancestor, lineal descendant, spouse of a lineal descendant, brother, sister or spouse of a brother or sister) you would
not satisfy the representations in the Subscription Agreement. 

  
 Attachment 4
- Page 2 

 4.    Are you a “Public Plan Partner”4? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 5.    Are you a (a) trust established in accordance with
section 302(c)(5) of the National Labor Relations Act or (b) union-negotiated pension trust? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 6.    If you are an insurance company general account, does any portion of your assets
in your general account constitute “plan assets”? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 7.    Answer this Question only if the answer to Question (6) above is
“yes”: What is the percentage of the assets in your general account that constitutes “plan assets” subject to ERISA or section 4975 of the Code? 

                       
  % 
 8.    Will any other person or persons have a beneficial interest in the Interests to be acquired
hereunder (other than as a shareholder, partner, policy owner or other beneficial owner of equity interests in you)? (For example, “nominee” investors should check “yes.”) 

 

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

  
 4    The term Public Plan Partner means: a Limited Partner that is (a) a governmental plan within the meaning of section 3(32) of ERISA, a church plan within the meaning of
section 3(33) of ERISA with respect to which no election has been made under section 410(d) of the Code or another governmental plan as agreed in writing by the Company or (b) is designated as a Public Plan Partner by the Company in writing.

  
 Attachment 4
- Page 3 

 9.    Answer this Question only if the answer to Question
(8) above is “yes”: Please list the full legal names of such person or persons in the space provided below. 
  

					
		  	 	 	
		  	 	 	
		  	 	 	

 10.    Does any person or group of affiliated persons hold 50% or more, directly or
indirectly, of the equity or voting interests in you? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 11.    Answer this Question only if the answer to Question (10) above is
“yes”: Please list the full legal names of such person or persons in the space provided below. 
  

					
		  	 	 	
		  	 	 	
		  	 	 	
		  	 	 	

 12.    Are you an “affiliate” of Oaktree or the Company?5 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 13.    Are you a resident of or have you been marketed to in Canada? 

 

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

  
 5     The term “affiliate” of a person for this purpose includes any person, directly or indirectly, through one or more intermediaries, controlling, controlled by, or
under common control with the person. For purposes of this definition, “control”, with respect to a person other than an individual, means the power to exercise a controlling influence over the management or policies of such person. 

  
 Attachment 4
- Page 4 

 14.    Are you a resident of or have you been marketed to in Asia,
Australia or New Zealand? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 15.    Are you a U.S. person for purposes of Regulation S of the Securities Act?6 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 16.    Please list the state or country in which the Memorandum was distributed to you.

  
   

 
 State or
Country 
 17.    Are you a DRE (i.e., a wholly owned entity that is disregarded as separate from its owner for
U.S. federal income tax purposes)? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 18.    Will you hold your Interest as a nominee or other agent for another person?

  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 19.    Are you a Grantor Trust7?

  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

  
 6     A “Grantor Trust” is a trust any portion of which is treated (under subpart E of part I of subchapter J of chapter 1 of subtitle A of the Code) as owned by the
grantor or any other person. 
 7     See Attachment 11 for the definition of
“U.S. person” for purposes of Regulation S of the Securities Act. 

  
 Attachment 4
- Page 5 

 20.    Are you a “Pension Scheme”8? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

  
   

 

	8 	 The term “Pension Scheme” means: 

• The trustee or manager of (a) a registered pension scheme, other than an investment-regulated pension scheme, or (b) an
overseas pension scheme, other than one which would be an investment-regulated pension scheme if it were a registered pension scheme. 

• A registered pension scheme which is not an occupational pension scheme is an investment-regulated pension scheme if one or more of its
members or a person related to a member is or has been able (directly or indirectly) to direct, influence or advise on the manner of investment of any of the sums and assets held for the purposes of an arrangement under the pension scheme relating
to the member. 
 • A registered pension scheme which is an occupational pension scheme is an investment-regulated pension scheme if
there are 50 or fewer members of the pension scheme, and one or more of those members is or a person related to a member is or has been able (directly or indirectly) to direct, influence or advise on the manner of investment of any of the sums and
assets held for the purposes of the pension scheme. 
 • An overseas pensions scheme is a pension scheme (a) that is established
outside of the United Kingdom, and (b) that is established by an international organization for the purpose of providing benefits for, or in respect of, past service as an employee of the organization, or (c) that is an occupational
pension scheme and there is, in the country or territory in which it is established, a body (i) which regulates occupational pension schemes; and (ii) which regulates the scheme in question; or (d) that is not an occupational pension
scheme and there is in the country or territory in which it is established, a body (i) which regulates pension schemes other than occupational pension schemes; and (ii) which regulates the scheme in question; or (e) where neither sub-paragraph (c) nor (d) is satisfied by reason only that no such regulatory body exists in the country or territory and (i) the scheme is established in a European Union member state, Norway, Iceland or
Liechtenstein; or (ii) there is in the country or territory in which the scheme is established a body (aa) which regulates providers of pension schemes; and (bb) which regulates the provider for the purpose of establishing the scheme in
question; or (f) that is open to persons resident in the country or territory in which it is established and the scheme is established in a country or territory where there is a system of taxation of personal income under which tax relief is
available in respect of pensions and (i) tax relief is not available to the member on contributions made to the scheme by the individual or, if the individual is an employee, by their employer, in respect of earnings to which benefits under the
scheme relate, (ii) the scheme is liable to taxation on its income and gains and is a complying superannuation plan as defined in section 995-1 of the Income Tax Assessment Act 1997 of Australia; or
(iii) all or most of the benefits paid by the scheme to members who are not in serious ill-health are subject to taxation, and (iii) the scheme is approved or recognised by, or registered with, the
relevant tax authorities as a pension scheme in the country or territory in which it is established. 

  
 Attachment 4
- Page 6 

 21.    Are you a “life assurance business9” that will hold your Interest as part of your “long-term business fixed capital10”? 

 

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 22.    Are you a “sovereign wealth fund11”? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 23.     Are you a “charity”? 

 

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 24.     Are you an “investment trust”? 

 

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

  
  

9 A business is carrying on “life assurance business” if: 

(a)    it consists of the effecting or carrying out of contracts of insurance which fall within paragraph I, II, III or
VII(b) of Part 2 of Schedule 1 to the FISMA (Regulated Activities) Order 2001; or 
 (b)    it is capital redemption
business, which consists of the effecting on the basis of actuarial calculations, and the carrying out, of contracts under which, in return for one or more fixed payments, a sum of a specified amount (or a series of sums of a specified amount)
become payable at a future time or over a period. 
 10 An asset forms part of “the long-term
business fixed capital” of the company if: 
 (a)    it is held for the purposes of its long-term business; and 

(b)    it is a structural asset of that business. The reference to a structural asset of a company’s long-term
business includes shares, debts and loans that (i) are held by the company in a fund that is not a with-profits fund; and (b) are of a kind that, if they had been held on December 31, 2012, their value would have been required to be
entered in lines 21 to 24 of Form 13 in the periodical return of the company for the period ending immediately before January 1, 2013 (UK insurance dependants and other insurance dependants). 

11 A sovereign wealth fund is a person who cannot be liable for corporation tax or income tax (as
relevant) on the grounds of sovereign immunity. 

  
 Attachment 4
- Page 7 

 25.    Are you an “authorised investment fund12”? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 26.    Are you an “exempt unauthorised unit trust13”? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

 27.    Are you none of the types of persons/entities listed in items 21-26 above? 
  

							
		 	☐	    	Yes	  	
				
		 	☐	    	No	  	

  
 12 An authorised investment fund under the United Kingdom Authorised Investment Funds (Tax) Regulations 2006 (SI 2006/964), which meets the genuine diversity of ownership condition set out in
Regulation 9A of the United Kingdom Authorised Investment Funds (Tax) Regulations 2006. 
 13 The
trustees of an exempt unauthorised unit trust, where the trust meets the genuine diversity of ownership condition set out in Regulation 9A of the United Kingdom Authorised Investment Funds (Tax) Regulations 2006 (treating references to an
authorised investment fund as including an exempt unauthorised unit trust). 

  
 Attachment 4
- Page 8 

 ATTACHMENT 5 

SPECIFIC ACCOUNT INFORMATION 

(TO BE COMPLETED BY ALL INVESTORS) 

Instructions: Please complete this Attachment 5 in its entirety. 
  

							
	 1. General Information
	  		  			
	 1. Print Full Name of Investor:
	  	Individual, Individual IRA, Joint in Tenancy:	  

		  	  

First                Middle      
           Last
	 
  

	 	  	  
 Entity Name
	 
		  		  			
		  	 Entity: To assist the Company in preparing the its tax filings, please check the category into
which you fall:
	  			
		  	 Partnership
	  	❑		 
		  	 C-Corporation
	  	❑		 
		  	 S-Corporation
	  	❑		 
		  	 Estate
	  	❑		 
		  	 Grantor Trust
	  	❑		 
		  	 Trust-EIN (a trust with an
	  	❑		 
		  	 EIN in this format: 12-3456789)
	  			
		  	 Trust-SSN (a trust with an
	  	❑		 
		  	 EIN in this format:
123-45-6789)
	  	❑		 
		  	 IRA-EIN
	  	❑		 
		  	 IRA-SSN
	  	❑		 
		  	 Exempt Organization
	  	❑		 
		  	 LLP
	  	❑		 
		  	 LLC
	  	❑		 
		  	 Nominee-EIN
	  	❑		 
		  	 Nominee-SSN
	  	❑		 
		  	 Other
	  	❑		 
			
	 2. U.S. Taxpayer Identification or Social Security Number:
	  		  			
		  	  
	  			
			
	 3. Date of Birth:
	  		  			
		  	  
	  			
		
	 2. Primary Contact Person for your investment in the Company:
	  			

  

	
	 Name:
__________________________________________________________________________________________________

	  
 Company:
_______________________________________________________________________________________________

	  
 Street Address (No P.O.
Boxes): _____________________________________________________________________________

  

  
 Attachment 5
- Page 1 

  
  

							
	 City
	  	 State
	  	 Zip Code
	  	 Telephone No.

  

	
	 Facsimile:
                                         
                                         
                                         
                                         
                            

	
	 E-Mail Address:
                                         
                                         
                                         
                                         
                  

	
	 If not the Investor, relationship to you:
                                         
                                         
                                         
                       

 This contact person should receive (check all that apply): 

☐ Funding Notices 
 ☐ Distribution Fee Funding
Notices (if any) 
 ☐ Financial Statements and other Financial Reports 

☐ Schedule K-1s and other Tax Information 

☐ Portfolio Manager Letters and other fund-related communications / events (e.g., webcasts) 

☐ Legal Documents (including copies of governing fund documents) and any documents requiring your signature 

 

	3.	 Client Relations Contact Person for your investment in the Company, if different from Primary Contact:

  

	
	 Name:
                                         
                                         
                                         
                                         
                                    

	
	 Company:
                                         
                                         
                                         
                                         
                              

	
	 Street Address (No P.O. Boxes):
                                         
                                         
                                         
                                   

  
  

							
	 City
	  	 State
	  	 Zip Code
	  	 Telephone No.

  

	
	 Facsimile:
                                         
                                         
                                         
                                         
                            

	
	 E-Mail Address:
                                         
                                         
                                         
                                         
                  

	
	 If not the Investor, relationship to you:
                                         
                                         
                                         
                       

 This contact person should receive (check all that apply): 

☐ Funding Notices 
 ☐ Distribution Fee Funding
Notices (if any) 
 ☐ Financial Statements and other Financial Reports 

  
 Attachment 5
- Page 2 

 ☐ Schedule K-1s and other Tax Information 

☐ Portfolio Manager Letters and other fund-related communications / events (e.g., webcasts) 

☐ Legal Documents (including copies of governing fund documents) and any documents requiring your signature 

 

	4.	 Accounting/Administrations Contact Person for your investment in the Company, if any:

  

	
	 Name:
                                         
                                         
                                         
                                         
                                    

	
	 Company:
                                         
                                         
                                         
                                         
                              

	
	 Street Address (No P.O. Boxes):
                                         
                                         
                                         
                                   

  
  

							
	 City
	  	 State
	  	 Zip Code
	  	 Telephone No.

  

	
	 Facsimile:
                                         
                                         
                                         
                                         
                            

	
	 E-Mail Address:
                                         
                                         
                                         
                                         
                  

	
	 If not the Investor, relationship to you:
                                         
                                         
                                         
                       

 This contact person should receive (check all that apply): 

☐ Funding Notices 
 ☐ Distribution Fee Funding
Notices (if any) 
 ☐ Financial Statements and other Financial Reports ☐ Schedule K-1s and other Tax
Information 
 ☐ Portfolio Manager Letters and other fund-related communications / events (e.g., webcasts) 

☐ Legal Documents (including copies of governing fund documents) and any documents requiring your signature 

 

	5.	 Legal Contact Person for your investment in the Company, if any: 

 

	
	 Name:
                                         
                                         
                                         
                                         
                                    

	
	 Company:
                                         
                                         
                                         
                                         
                              

	
	 Street Address (No P.O. Boxes):
                                         
                                         
                                         
                                   

  
  

							
	 City
	  	 State
	  	 Zip Code
	  	 Telephone No.

  
 Attachment 5
- Page 3 

	
	 Facsimile:
                                         
                                         
                                         
                                         
                            

	
	 E-Mail Address:
                                         
                                         
                                         
                                         
                  

	
	 If not the Investor, relationship to you:
                                         
                                         
                                         
                       

 This contact person should receive (check all that apply): 

☐ Funding Notices 
 ☐ Distribution Fee Funding
Notices (if any) 
 ☐ Financial Statements and other Financial Reports 

☐ Schedule K-1s and other Tax Information 

☐ Portfolio Manager Letters and other fund-related communications / events (e.g., webcasts) 

☐ Legal Documents (including copies of governing fund documents) and any documents requiring your signature 

 

	6.	 Any Other Contact Person for your investment in the Company that you desire to provide:

  

	
	 Name:
                                         
                                         
                                         
                                         
                                    

	
	 Company:
                                         
                                         
                                         
                                         
                              

	
	 Street Address (No P.O. Boxes):
                                         
                                         
                                         
                                   

  
  

							
	 City
	  	 State
	  	 Zip Code
	  	 Telephone No.

  

	
	 Facsimile:
                                         
                                         
                                         
                                         
                            

	
	 E-Mail Address:
                                         
                                         
                                         
                                         
                  

	
	 If not the Investor, relationship to you:
                                         
                                         
                                         
                       

 This contact person should receive (check all that apply): 

☐ Funding Notices 
 ☐ Distribution Fee Funding
Notices (if any) 
 ☐ Financial Statements and other Financial Reports 

☐ Schedule K-1s and other Tax Information 

☐ Portfolio Manager Letters and other fund-related communications / events (e.g., webcasts) 

  
 Attachment 5
- Page 4 

 ☐ Legal Documents (including copies of governing fund documents) and any documents requiring your
signature 
 For additional contact persons, please attach separate sheets to this Attachment 5 and specify the category for such additional contact
persons (i.e., primary, client relations, accounting, legal, etc.) and the type(s) of information such additional contact persons should receive (using the check boxes above). 

  
 Attachment 5
- Page 5 

	7.	 Any distributions (including proceeds from the withdrawal of all or a portion of your Interest) to you
should be wired according to the following instructions: 

  

			
	 BENEFICIARY INFORMATION

(This is the ultimate recipient of the wired funds)

 
 Beneficiary Name*

 
 Beneficiary Account Number*

 
 For Further Credit to Name (if
applicable)
  
 For Further
Credit to Account Number (if applicable)
  

Attn to/Reference/Additional Beneficiary Information

 
  
	  	 BENEFICIARY BANK INFORMATION

(This is the financial institution where the beneficiary maintains their account)

 
 Beneficiary Bank ABA or SWIFT Bank Identifier
Code (BIC)*
  
 Beneficiary
Bank Name*
  
 DDA/Clearing
Account at Beneficiary Bank (if applicable)
  

Additional Beneficiary Bank Information (if applicable)

 
  
  

 INTERMEDIARY BANK INFORMATION (IF APPLICABLE) 

(This is the financial institution that the wire must pass through before reaching the final beneficiary bank) 

 

			
	 Intermediary Bank ABA or SWIFT Bank Identifier Code (BIC)

 
 Intermediary Bank Name

 
 Account Number at Intermediary
(if applicable)
  
	  	 Additional or Second Intermediary Bank Information (if applicable)

 
  
  

 
  

 * Required Field 

  
 Attachment 5
- Page 6 

	8.	 Wire transfers from you to fund capital contributions shall be made from the same banking institution
described in Item 7 above, unless otherwise stated below: 

  

			
	 BENEFICIARY INFORMATION

(This is the ultimate source of the wired funds)

 
 Beneficiary Name*

 
 Beneficiary Account Number*

 
 For Further Credit to Name (if
applicable)
  
 For Further
Credit to Account Number (if applicable)
  

Attn to/Reference/Additional Beneficiary Information

 
  
	  	 BENEFICIARY BANK INFORMATION

(This is the financial institution where the beneficiary maintains their account)

 
 Beneficiary Bank ABA or SWIFT Bank Identifier
Code (BIC)*
  
 Beneficiary
Bank Name*
  
 DDA/Clearing
Account at Beneficiary Bank (if applicable)
  

Additional Beneficiary Bank Information (if applicable)

 
  
  

 INTERMEDIARY BANK INFORMATION (IF APPLICABLE) 

(This is the financial institution that the wire must pass through after leaving the beneficiary bank) 

 

			
	 Intermediary Bank ABA or SWIFT Bank Identifier Code (BIC)

 
 Intermediary Bank Name

 
 Account Number at Intermediary
(if applicable)
  
	  	 Additional or Second Intermediary Bank Information (if applicable)

 
  
  

 

 * Required Field 

  
 Attachment 5
- Page 7 

	9.	 Supplemental Data for Individuals, Individual IRAs, Joint in Tenancy 

Please indicate whether you are investing the assets of any retirement plan, employee benefit plan or other similar agreement (such as an IRA or
“Keogh” plan). 
 ☐
Yes                ☐ No 
 If the above question was answered
“Yes,” please indicate the type of retirement plan, employee benefit plan or other similar agreement below: 
  

 
  

	10.	 Supplemental Data for Entities 

 

			
		
	A.	  	If the Investor is not a natural person, the Investor must furnish the following supplemental data (Natural persons may skip this Section of the Investor Questionnaire):
		
	A.a.	  	 Legal form of entity (trust, corporation, partnership, limited liability company, etc.):
                                         
                       
  

		
	A.b.	  	Jurisdiction of organization and location of domicile:
                                         
                                         
                                
		
	A.c.	  	Beneficial Ownership: In the chart below, provide the address for each identified 10% Beneficial Owner (as defined below).

  

			
	Name of 10% Beneficial Owner	  	 Address

(must include street, city, state/province, country)

		  	
		  	
		  	

  

			
	Note: For Investors with complex legal structures, please ensure identification of each individual who, directly or indirectly through multiple corporate structures, owns 10% or more of the equity interest in the
Investor or holds 10% or more of the control rights in the Investor (each, a “ Beneficial Owner ”). Further, for verification of identified 10% Beneficial Owners, please provide an unexpired government-issued ID evidencing
nationality or residence and bearing a photo, e.g., driver’s license or passport. 4.

  

			
		
	4.	  	
		
	A.d.	  	Please identify one individual with significant responsibility for managing the Investor (“Control Person”).

  

	
	               Name:
                                         
                                         
                                         
                                         
                        

  
 Attachment 5
- Page 8 

 Address:
                                         
                                         
                                         
                                         
                         

                (must include street, city,
state/province, country) 
                 Is the individual who is
designated as the Control Person: (select one) 
  

	 	☐	 an executive officer or senior manager, e.g., CEO, CFO, COO, Managing Member, General Partner, President, Vice
President, Treasurer; or 

  

	 	☐	 any other individual who regularly performs similar functions. 

 

			
		
		  	Note: If appropriate, an individual listed in the 10% Beneficial Owner chart above in D.1.c. may also be listed as the Control Person. For verification of the Control Person, please provide an unexpired government-issued ID
evidencing nationality or residence and bearing a photo, e.g., driver’s license or passport.
		
	B.	  	This question is for Non-U.S. Investors only (including Investors acting for beneficial owners that are Non-U.S. persons). If the Investor is a U.S.
Investor, please skip this question 2.
		
	B.a.	  	Does the Investor qualify as an integral part or a controlled entity of a foreign government for purposes of Section 892 of the Code (for example, certain sovereign wealth funds)?
		
		  	❑ Yes             ❑ No
		
		  	If “Yes,” please furnish an executed copy of form W-8EXP.
		
	B.b.	  	Does the Investor qualify as a pension fund entitled to an exemption from withholding tax on dividends under an applicable tax treaty?
		
		  	❑ Yes             ❑ No
		
		  	If “Yes,” please indicate the relevant treaty below and on an executed copy of form W-8BEN-E.
		
		  	Applicable Treaty:
                                         
                                         
                  
		
	B.c.	  	Does the Investor qualify for a reduced rate of withholding tax on dividends under any applicable tax treaty?
		
		  	❑ Yes             ❑ No
		
		  	If “Yes,” please indicate the relevant treaty below and on an executed copy of form W-8BEN-E.
		
		  	Applicable Treaty:
                                         
                                         
                  
		
	C.	  	
		
	C.a.	  	Is the Investor a private investment company which is not registered under the Investment Company Act in reliance on:

  
 Attachment 5
- Page 9 

			
		
		  	Section 3(c)(1) thereof?             ❑ Yes ❑ No
		
		  	Section 3(c)(7) thereof?             ❑ Yes ❑ No
		
	C.b.	  	Does the amount of the Investor’s subscription for Shares in the Company exceed 40% of the total assets (on a consolidated basis with its subsidiaries) of the Investor?
		
		  	❑ Yes         ❑ No
		
	C.c.	  	If either part of question 4.a. was answered “Yes,” please indicate whether or not the Investor was formed on or before April 30, 1996.
		
		  	❑ Yes         ❑ No
		
	D.	  	Is the Investor an “investment company” registered or required to be registered under the Investment Company Act or a “business development company,” as defined in Section 202(a)(22) of the Advisers
Act?
		
		  	❑ Yes         ❑ No
		
		  	If the box above was checked “Yes,” please contact the Company for additional information that will be required.
		
	E.	  	Is the Investor a “BHC Investor”(1)?
		
		  	❑ Yes         ❑ No
		
		  	(1) A “BHC Investor” is defined as an Investor that is a bank holding company, as defined in Section 2(a) of the Bank Holding Company Act of 1956, as amended (the
“BHC Act”), a non-bank subsidiary (for purposes of the BHC Act) of a bank holding company, a foreign banking organization, as defined in Regulation K of the Board of Governors of the Federal Reserve
System (12 C.F.R. § 211.23) or any successor regulation, or a non-bank subsidiary (for purposes of the BHC Act) of a foreign banking organization which subsidiary is engaged, directly or indirectly in
business in the United States and which in any case holds Shares for its own account.
		
	F.	  	 If the Investor’s tax year ends on a date other than December 31, please indicate such date below:

 

		
	G.	  	Is the Investor subject to the U.S. Freedom of Information Act, 5 U.S.C. § 552, (“FOIA”), any state public records access laws, any state or other jurisdiction’s laws similar in intent or effect to FOIA, or any
other similar statutory or regulatory requirement that might result in the disclosure of confidential information relating to the Company?
		
		  	❑ Yes         ❑ No

  
 Attachment 5
- Page 10 

			
		
		  	 If the question above was answered “Yes,” please indicate the relevant laws to which the Investor is subject and provide any
additional explanatory information in the space below:
  
  

 

		
	H.	  	Was the Investor organized for the specific purpose of acquiring Shares?
		
		  	❑ Yes             ❑ No
		
		  	If the above question was answered “Yes,” please contact the Company for additional information that will be required.
		
	10.	  	Related Parties/Other Beneficial Parties:
		
	A.	  	To the best of the Investor’s knowledge, does the Investor control, or is the Investor controlled by or under common control with, any other investor or prospective investor in the Company?
		
		  	❑ Yes             ❑ No
		
		  	 If the question above was answered “Yes,” please indicate the name of such other investor in the space below:

 

		
	B.	  	Will any other person or persons have a beneficial interest in the Shares to be acquired hereunder (other than as a shareholder, partner, policy owner or other beneficial owner of equity interests in the Investor)? (By way of
example, and not limitation, “nominee” Investors or Investors who have entered into swap or other synthetic or derivative instruments or arrangements with regard to the Shares to be acquired herein would check “Yes”)
		
		  	❑ Yes             ❑ No
		
		  	If either question above was answered “Yes,” please contact the Company for additional information that will be required.
		
	10.	  	Financing of Acquisition
		
		  	Please indicate whether you are borrowing or are otherwise financing your acquisition of Shares hereunder.
		
		  	❑ Yes             ❑ No
		
		  	 If the above question was answered “Yes,” please indicate the amount financed and what, if any, collateral was given to secure the
financing:
  

  

  
 Attachment 5
- Page 11 

 ATTACHMENT 6 

CFTC QUESTIONNAIRE 
 The
following Questionnaire must be completed by you only if you cannot make the representation that you are not required to be a member of the National Futures Association (the “NFA”) or to be registered with the CFTC because you do not
engage in activity that comes within the definition of the terms commodity pool operator, commodity trading advisor, futures commission merchant, introducing broker, swap dealer, retail foreign exchange dealer, major swap participant or leverage
transaction merchant. 
 In order for Oaktree to be in compliance with applicable rules of the National Futures Association (the
“NFA”) and the CFTC Regulations, Oaktree must ensure that each investor that is required to register under the U.S. Commodity Exchange Act (the “CEA”) and to become a member of the NFA has done so. You must check
the statement(s) below that apply to you (or, if you are a commodity pool, to the operator thereof). 
 You hereby represent and warrant
that (please check appropriate box): 
  

			
	☐	  	You (or, if you are a commodity pool, the operator thereof) are a member of the NFA and are registered with the CFTC.
		  	Capacity: ___________________________________
		  	NFA ID: ____________________________________
		  	Please indicate the category or categories in which you are, or the operator thereof is, so registered, and your or its NFA ID number. Registration categories include commodity pool operator, commodity trading advisor,
futures commission merchant, introducing broker, swap dealer, retail foreign exchange dealer, major swap participant and leverage transaction merchant.
	☐	  	You (and your pool operator in the case of a commodity pool) are exempt or excluded from registration with the CFTC and have made any necessary filings with the CFTC or the NFA in order to avail yourself of such exemption or
exclusion.
		  	Exemption/Exclusion:________________________
		  	Please cite the section of the CEA or the CFTC Regulation under which exemption or exclusion from registration is claimed.
		  	 (ii) You covenant to advise Oaktree immediately in writing if any warranty or any information contained herein
becomes untrue.

  
 Attachment 6
- Page 1 

 ATTACHMENT 7 

INTERNAL REVENUE SERVICE FORMS W-9, W-8IMY, W-8BEN AND W-8BEN-E 

  
 Attachment 7
- Page 1 

 ATTACHMENT 8 

RULE 506(d) EVENTS 
  

	 	(iii)	 A 506(d) Event has occurred or is true with respect to any Covered Person if: 

 

	1.	 Such Covered Person has been convicted, within the ten year period ending on the date hereof, of any felony or
misdemeanor: 

  

	 	(a)	 in connection with the purchase or sale of a security;  

 

	 	(b)	 involving the making of any false filing with the SEC;
or  

  

	 	(c)	 arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer,
investment adviser or paid solicitor of purchasers of securities;  

  

	2.	 Such Covered Person is subject to an order, judgment or decree of any court of competent jurisdiction, entered
within the five year period ending on the date hereof, that, as of the date hereof, restrains or enjoins such Covered Person from engaging or continuing to engage in any conduct or practice: 

 

	 	(a)	 in connection with the purchase or sale of any security;  

 

	 	(b)	 involving the making of any false filing with the SEC;
or  

  

	 	(c)	 arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer,
investment adviser or paid solicitor of purchasers of securities;  

  

	3.	 Such Covered Person is subject to a final order of a state securities commission (or an agency or officer of a
state performing like functions); a state authority that supervises or examines banks, savings associations or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking
agency; the CFTC; or the National Credit Union Administration that: 

  

	 	(a)	 as of the date hereof, bars such Covered Person from (i) association
with any entity regulated by such commission, authority, agency or officer, (ii) engaging in the business of securities, insurance or banking or (iii) engaging in
savings association or credit union activities; or  

  

	 	(b)	 constitutes a final order based on a violation of any law or regulation that prohibits fraudulent,
manipulative or deceptive conduct entered within the ten year period ending on the date hereof; 

  

	4.	 Such Covered Person is subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the
U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) (15 U.S.C. 78o(b) or 78o-4(c)), or section 203(e) or (f) of the Advisers Act (15 U.S.C. 80b-3(e) or (f)) that, as of the date hereof: 

  
 Attachment 8
- Page 1 

	 	(a)	 suspends or revokes such Covered Person’s registration as a broker, dealer, municipal securities dealer
or investment adviser;  

  

	 	(b)	 places limitations on the activities, functions or operations of such Covered Person; or

  

	 	(c)	 bars such Covered Person from being associated with any entity or from participating in the offering of any
penny stock;  

  

	5.	 Such Covered Person is subject to an order of the SEC entered within the five year period ending on the date
hereof that, as of the date hereof, orders such Covered Person to cease and desist from committing or causing a violation or future violation of: 

  

	 	(a)	 any scienter-based anti-fraud provision of the federal securities laws, including without limitation section
17(a)(1) of the Securities Act, section 10(b) of the Exchange Act and Rule 10b-5 under the Exchange Act, section 15(c)(1) of the Exchange Act and section 206(1) of the Advisers Act, or any other rule or
regulation thereunder; or  

  

	 	(b)	 section 5 of the Securities Act; 

 

	6.	 Such Covered Person is suspended or expelled from membership in, or suspended or barred from association with a
member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade; 

 

	7.	 Such Covered Person has filed (as a registrant or issuer), or was named as an underwriter in, any registration
statement or Regulation A offering statement filed with the SEC that, within the five year period ending on the date hereof, was the subject of a refusal order, stop order or order suspending the Regulation A exemption, or is, as of the date hereof,
the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued; or 

  

	8.	 Such Covered Person is subject to a United States Postal Service false representation order entered within the
five year period ending on the date hereof, or is, as of the date hereof, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for
obtaining money or property through the mail by means of false representations. 

  
 Attachment 8
- Page 2 

 If any Covered Person has been subject to such an event but, prior to the date hereof, (a) the
court or regulatory authority that entered the relevant order, judgment or decree has advised in writing (whether contained in the relevant judgment, order or decree or separately to the SEC or its staff) that disqualification under paragraph (d)(1)
of Rule 506 under the Securities Act should not arise as a consequence of such order, judgment or decree or (b) the SEC has issued an exemption from paragraph (d)(1) of rule 506 under Regulation D promulgated under the Securities Act
with respect 
 to such event, you have provided the Company a copy of such order, judgment, decree or exemption with this Subscription Agreement. 

  
 Attachment 8
- Page 3 

 ATTACHMENT 9 

DEFINITION OF ACCREDITED INVESTOR 

“Accredited investor” shall mean any person who comes within any of the following categories, or who the issuer reasonably believes
comes within any of the following categories, at the time of the sale of the securities to that person: 
 (1)    Any
bank as defined in section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; any broker or
dealer registered pursuant to section 15 of the Exchange Act; any insurance company as defined in section 2(a)(13) of the Securities Act; any investment company registered under the Investment Company Act or a business development company
as defined in section 2(a)(48) of that Act; any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the U.S. Small Business Investment Act of 1958; any plan established
and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan
within the meaning of the U.S. Employee Retirement Income Security Act of 1974 if the investment decision is made by a plan fiduciary, as defined in section 3(21) of such Act, which is either a bank, savings and loan association, insurance
company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors; 

(2)    Any private business development company as defined in section 202(a)(22) of the Advisers Act; 

(3)    Any organization described in section 501(c)(3) of the Code, corporation, Massachusetts or similar business
trust, partnership or limited liability company, in each case, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; 

(4)    Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any
director, executive officer, or general partner of a general partner of that issuer; 
 (5)    Any natural person whose
individual net worth, or joint net worth with that person’s spouse, exceeds $1,000,000, excluding the value of the primary residence of such natural person and any indebtedness that is secured by the person’s primary residence, except for
the amount of indebtedness that is secured by the person’s primary residence that exceeds, at the time of the sale of securities, (a) the estimated fair market value of the primary residence or (b) the amount of
indebtedness outstanding 60 days before the sale of securities, other than as a result of the acquisition of the primary residence; 

(6)    Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint
income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; 

  
 Attachment 9
- Page 1 

 (7)    Any trust, with total assets in excess of $5,000,000, not formed
for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in 17 C.F.R. §230.506(b)(2)(ii); and 

(8)    Any entity in which all of the equity owners are accredited investors. 

  
 Attachment 9
- Page 2 

 ATTACHMENT 10 

ANTI-MONEY LAUNDERING AND MUNICIPAL ENTITY DEFINITIONS 

“Foreign Shell Bank” means a foreign bank without a physical presence in any country that is not a Regulated Affiliate. 

“Governmental Entity” means any government or any state, department or other political subdivision thereof, or any
governmental body, agency, authority or instrumentality in any jurisdiction exercising executive, legislative, regulatory or administrative functions of or pertaining to a government. 

“Municipal Entity” means any U.S. state, political subdivision of a U.S. state, or municipal corporate instrumentality of a
U.S. state or of a political subdivision of a U.S. state, including: (a) any agency, authority, or instrumentality of the U.S. state, political subdivision, or municipal corporate instrumentality; (b) any plan, program, or pool of assets
sponsored or established by the U.S. state, political subdivision, or municipal corporate instrumentality or any agency, authority, or instrumentality thereof; and (c) any other issuer of municipal securities. 

“Non-Cooperative Jurisdiction” means (a) any foreign country that has
been designated as non-cooperative with international anti-money laundering principles or procedures by the Financial Action Task Force on Money Laundering, or any other governmental or inter-governmental
organization identified in writing by the Company and (b) any jurisdiction that has been designated by the Secretary of the Treasury under section 311 or 312 of the USA PATRIOT Act of 2001 as warranting special measures due to money
laundering concerns. 
 “Obligated Person” means any person, including an issuer of municipal securities, who is either
generally or through an enterprise, fund, or account of such person, committed by contract or other arrangement to support the payment of all or part of the obligations on the municipal securities to be sold in an offering of municipal securities,
but does not include: (a) a person who provides municipal bond insurance, letters of credit, or other liquidity facilities; (b) a person whose financial information or operating data is not material to a municipal securities offering,
without reference to any municipal bond insurance, letter of credit, liquidity facility, or other credit enhancement; or (c) the federal government. 

“OFAC” is the U.S. Department of the Treasury’s Office of Foreign Assets Control. Federal regulations and Executive
Orders administered by OFAC prohibit, among other things, the engagement in transactions with, and the provision of services to, certain foreign countries, territories, entities and individuals.
These individuals include specially designated nationals, specially designated narcotics traffickers and other parties subject to OFAC sanctions and embargo programs, including the List of Specially Designated Nationals and Blocked Persons, as
such list may be amended from time to time, or any U.S. Executive Order administered by OFAC. The lists of OFAC prohibited countries, territories, persons and entities can be found on the OFAC website at <http://www.treas.gov/ofac>. 

“OFAC Programs” are programs administered by OFAC which prohibit dealing with individuals or entities in certain countries
regardless of whether such individuals or entities appear on the lists maintained by OFAC. 

  
 Attachment 10
- Page 1 

 “Proceeds of Municipal Securities” means monies derived by a Municipal
Entity from the sale of municipal securities, investment income derived from the investment or reinvestment of such monies, and any monies of a Municipal Entity or Obligated Person held in funds under legal documents for the municipal securities
that are reasonably expected to be used as security or a source of payment for the payment of the debt service on the municipal securities, including reserves, sinking funds, and pledged funds created for such purpose, and the investment income
derived from the investment or reinvestment of monies in such funds, except that monies derived from a municipal security issued by an education trust established by a U.S. state under section 529(b) of the Code are not proceeds of municipal
securities. 
 “Prohibited Person” means (a) a country, territory or Person named on the List of Specially
Designated Nationals and Blocked Persons maintained by OFAC (for a copy, see http://www.treas.gov/offices/enforcement/ofac/sdn/index.shtml), the list of persons and entities designated pursuant to section 1 of Executive Order 13224 of
September 23, 2001, Blocking Property and Prohibiting Transactions With Persons Who Commit or Support Terrorism (66 Fed. Reg. 47,079 (2001), as amended), or any other list of known or suspected terrorists or terrorist organizations issued by a
federal government agency and identified in writing to you by the Company, (b) a Person prohibited under the OFAC Programs, (c) a senior foreign political figure, (d) any immediate family member of a senior
foreign political figure, (e) a close associate of a senior foreign political figure, (f) a Person located in a jurisdiction that is a Non-Cooperative Jurisdiction, (g) a
Person located in a country included in any money laundering advisory issued by the U.S. Department of Treasury Financial Crimes Enforcement Network or (h) a Foreign Shell Bank. 

“Senior foreign political figure” means a current or former senior official in the executive, legislative,
administrative, military or judicial branches of a foreign government (whether elected or not), a senior official of a major foreign political party, or a senior executive of a foreign government-owned corporation. In addition, a “senior
foreign political figure” includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior foreign political figure. 

“Immediate family” of a senior foreign political figure typically includes the figure’s parents,
siblings, spouse, children and in-laws. 
 A “close associate” of a
senior foreign political figure is a person who is widely and publicly known to maintain an unusually close relationship with the senior foreign political figure, and includes a person who is in a position to conduct substantial domestic and
international financial transactions on behalf of the senior foreign political figure. 
 “Publicly Traded Company” means a
Person whose securities are listed on a national securities exchange or quoted on an automated quotation system in the United States or a wholly-owned subsidiary of such a Person. 

“Qualified Plan” means a tax qualified pension or retirement plan in which at least 100 employees participate that is
maintained by an employer that is organized in the United States or that is maintained by a Governmental Entity of the United States or any state, locality or territory of the United States. 

  
 Attachment 10
- Page 2 

 “Regulated Affiliate” means a foreign bank that (a) is an
affiliate of a depositary institution, credit union or foreign bank that maintains a physical presence in the United States or a foreign country, as applicable and (b) is subject to supervision by a banking authority in the country
regulating such affiliated depositary institution, credit union or foreign bank. 
 “Related Person” means, with respect to
any Person, any direct or indirect investor, director, senior officer, trustee, direct or indirect beneficiary or grantor of such Person, provided that in the case of a Person that is a Publicly Traded Company or a Qualified Plan, the term
“Related Person” shall exclude the investors and beneficiaries of such Publicly Traded Company or such Qualified Plan. 

“Underlying Beneficial Owner” means any Person, nominee account or beneficial owner, whether a natural person or entity, for
whom you are acting, directly or indirectly, as an agent, representative, intermediary, nominee or in a similar capacity. 

  
 Attachment 10
- Page 3 

 ATTACHMENT 11 

DEFINITION OF “U.S. PERSON” UNDER REGULATION S 

Set forth below are the definitions of “United States” and “U.S. Person”, as defined in Rules 902(k) and (l) of
Regulation S promulgated under the Securities Act. 
 The term “United States” means the United States of America, its territories
and possessions, any state of the United States, and the District of Columbia. 
 The term “U.S. Person” means: 

(1)    Any natural person resident in the United States; 

(2)    Any partnership or corporation organized or incorporated under the laws of the United States; 

(3)    Any estate of which any executor or administrator is a U.S. Person; 

(4)    Any trust of which any trustee is a U.S. Person; 

(5)    Any agency or branch of a non-U.S. entity located in the United States; 

(6)    Any non-discretionary account or similar account (other than an estate or
trust) held by a dealer or other fiduciary for the benefit of a U.S. Person; 
 (7)    Any discretionary account or
similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and 

(8)    Any partnership or corporation if: (a) organized or incorporated under the laws of any jurisdiction
outside the United States and (b) formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by “accredited
investors” (as defined in Rule 501(a) under the Securities Act) who are not natural persons, estates or trusts. 
 Notwithstanding
the foregoing clauses (1) through (8), the following are not U.S. Persons: 
 (a)    any discretionary account or
similar account (other than an estate or trust) held for the benefit or account of a non-U.S. Person by a dealer or other professional fiduciary organized, incorporated, or (if an individual) resident in the
United States; 
 (b)    any estate of which any professional fiduciary acting as executor or administrator is a U.S.
Person if: (i) an executor or administrator of the estate who is not a U.S. Person has sole or shared investment discretion with respect to the assets of the estate; and (ii) the estate is governed by laws other than those of
the United States; 

  
 Attachment 11
- Page 1 

 (c)    any trust of which any professional fiduciary acting as trustee
is a U.S. Person, if a trustee who is not a U.S. Person has sole or shared investment discretion with respect to the trust assets, and no beneficiary of the trust (and no settlor if the trust is revocable) is a U.S. Person; 

(d)    an employee benefit plan established and administered in accordance with (i) the laws of a country other
than the United States and (ii) customary practices and documentation of such country; 
 (e)    any agency
or branch of a U.S. Person located outside the United States if: the agency or branch (i) operates for valid business reasons and (ii) is engaged in the business of insurance or banking and is subject to substantive insurance
or banking regulation, respectively, in the jurisdiction where located; and 
 (f)    none of the International Monetary
Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, the United Nations, or their agencies, affiliates and pension plans, or any other similar
international organization, or its agencies, affiliates and pension plans. 

  
 Attachment 11
- Page 2 

 APPENDIX A 

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION 

(see attached) 

 APPENDIX B 

AMENDED AND RESTATED BYLAWS 

(see attached) 

 APPENDIX C 

INVESTMENT ADVISORY AGREEMENT 

(see attached) 

 APPENDIX D 

ADMINISTRATION AGREEMENT 

(see attached) 

 APPENDIX G 

TRANSFER RESTRICTIONS 
 No Transfer of the
Investor’s Capital Commitment or, prior to a Liquidity Event, all or any fraction of the Investor’s Shares may be made unless (a) the Company (and, if required by the Company’s lending arrangements, the Company’s lenders)
gives consent, (b) the Transfer is made in accordance with applicable securities laws and (c) the Transfer otherwise complies with the restrictions in the Subscription Agreement. In any event, the consent of the Company may be withheld
(x) if the creditworthiness of the proposed transferee, as determined by the Company in its sole discretion, is not sufficient to satisfy all obligations under the Subscription Agreement or (y) unless, in the opinion of counsel (who may be
counsel for the Company or the Investor) satisfactory in form and substance to the Company: 
  

	 	•	 	 such Transfer would not violate the Securities Act, the Investment Company Act or any state (or other
jurisdiction) securities or “Blue Sky” laws applicable to the Company or the Shares to be Transferred; and 

  

	 	•	 	 such Transfer would not be a “prohibited transaction” under ERISA or the Code or the regulations
promulgated thereunder or cause all or any portion of the assets of the Company to constitute “plan assets” under ERISA, certain Department of Labor regulations or Section 4975 of the Code. 

In addition, following a Qualified Listing and continuing to and including the second anniversary of the completion of such Qualified Listing, an Investor may
not Transfer its Shares or announce an intention to do so. Notwithstanding the foregoing, an Investor may, without any further action on the part of the Company (but subject to any underwriters’ lock-up
or other contractual restriction an Investor may be or become a party to), beginning on the date that is 180 calendar days after the Qualified Listing, Transfer Shares in transactions exempt from registration under the Securities Act (pursuant
to Rule 144 or otherwise), provided that the number of Shares so Transferred (a) may not exceed 25% of the Investor’s Shares owned as of the completion of the Qualified Listing prior to 365 days after the completion of the
Qualified Listing; (b) may not exceed 50% of the Investor’s Shares owned as of the completion of the Qualified Listing prior to 540 days after the completion of the Qualified Listing; and (c) may not exceed 75% of the
Investor’s Shares owned as of the completion of the Qualified Listing prior to 720 days after the completion of the Qualified Listing; and provided, further, that any Shares owned by the Investor as of the completion of the Qualified
Listing not previously Transferred may be Transferred commencing 720 days after the completion of the Qualified Listing. 
 No Transfer shall be
effectuated except by registration of the Transfer on the Company’s books. Each transferee must agree to be bound by these restrictions and all other obligations as an Investor. 

The Investor agrees that it will pay all reasonable expenses, including attorneys’ fees, incurred by the Company in connection with any Transfer of its
Capital Commitment or all or any fraction of its Shares, prior to the consummation of such Transfer. 

 Any person that acquires all or any fraction of the Shares of the Investor in a Transfer permitted under
this Appendix G shall be obligated to pay to the Company the appropriate portion of any amounts thereafter becoming due in respect of the Capital Commitment committed to be made by its predecessor in interest. The Investor agrees that,
notwithstanding the Transfer of all or any fraction of its Shares, as between it and the Company, it will remain liable for its Capital Commitment and for all payments of any Drawdown Purchase Price required to be made by it (without taking into
account the Transfer of all or a fraction of such Shares) prior to the time, if any, when the purchaser, assignee or transferee of such Shares, or fraction thereof, becomes a holder of such Shares. 

The Company shall not recognize for any purpose any purported Transfer of all or any fraction of the Shares and shall be entitled to treat the transferor of
Shares as the absolute owner thereof in all respects, and shall incur no liability for distributions or dividends made in good faith to it, unless the Company shall have given its prior written consent thereto and there shall have been filed with
the Company a dated notice of such Transfer, in form satisfactory to the Company, executed and acknowledged by both the seller, assignor or transferor and the purchaser, assignee or transferee, and such notice (i) contains the acceptance by the
purchaser, assignee or transferee of all of the terms and provisions of this Subscription Agreement and its agreement to be bound thereby, and (ii) represents that such Transfer was made in accordance with this Subscription Agreement, the
provisions of the Memorandum and all applicable laws and regulations applicable to the transferee and the transferor.THE ALKALINE WATER COMPANY INC.

(the “Issuer”)

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT

 (UNITS – CANADIAN TSX VENTURE EXCHANGE LISTED ISSUER)

INSTRUCTIONS TO SUBSCRIBER

	
1.

	
You must complete all the information in the boxes on page 2 and sign where indicated with an “X”.

	
2.

	
All subscribers resident in Canada must complete and sign Exhibit A “Canadian Investor Questionnaire” that starts on page 15.

	
3.

	
 If you are a “U.S. Purchaser”, as defined in Exhibit B, you must complete and sign Exhibit B “United States Accredited Investor Questionnaire” that starts on page 29.

	
4.

	
All individual accredited investors (not corporations, partnerships or trusts) must fill in and execute Form 45-106F9 which starts on page 27.

	
5.

	
Unless you are subscribing through a person registered as a broker, an exempt market dealer (as defined in National Instrument 31-103 – Registration Requirements and Exemptions) or you are subscribing directly from the Issuer without involvement of a finder, you must complete and sign Exhibit C “Risk Acknowledgement Form” that starts on page 34.

	
6.

	
If you are not an individual (that is, the purchaser is a corporation, partnership, trust or entity other than an individual) or you are a portfolio manager, then complete and sign Exhibit D “Corporate Placee Registration Form” (Form 4C) that starts on page 35.  If you have previously submitted this form to the TSX Venture Exchange, and there have been no changes to its content, then please check the box to that effect on page 2.

	
7.

	
If you are paying for your subscription with funds drawn from a Canadian bank, you may pay by certified cheque or bank draft drawn on a Canadian chartered bank or by wire transfer to the Issuer pursuant to wiring instructions to be provided by the Issuer upon request. If the funds are wired or sent to the Issuer’s legal counsel, you irrevocably authorize such legal counsel to immediately deliver the funds to the Issuer.

	
8.

	
 If you are paying for your subscription with funds drawn on any source other than a Canadian chartered bank, you may only pay by wire transfer to the Issuer pursuant to wiring instructions to be provided by the Issuer upon request. If the funds are wired or sent to the Issuer’s legal counsel, you irrevocably authorize such legal counsel to immediately deliver the funds to the Issuer.

 

THE ALKALINE WATER COMPANY INC.

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT

The undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase from The Alkaline Water Company Inc. (the “Issuer”) that number of units of the Issuer (each, a “Unit”) set out below at a price of $2.50 per Unit.  Each Unit is comprised of one common share in the capital of the Issuer (each, a “Share”) and one non-transferable common share purchase warrant (each warrant, a “Warrant”).  Each Warrant will entitle the holder thereof to acquire one Share (each, a “Warrant Share”) at a price of $2.90 per Warrant Share until 5:00 p.m. (Vancouver time) on the date of expiration of the Warrant, which is two (2) years following the Closing Date (as defined herein).  The Subscriber agrees to be bound by the terms and conditions set forth in the attached “Terms and Conditions of Subscription for Units”.

	
Subscriber Information

 

  

	 	
Units to be Purchased

 

 

  

	
(Name of Subscriber)

	 	
 (Number of Units)

	 	 	 
	
Account Reference (if applicable): 

	 	 
	
 

X 

 (Signature of Subscriber – if the Subscriber is an Individual)

	 	
Total Subscription Price: 

(the “Subscription Amount”, plus wire fees if applicable)

	 	 	 
	
 

X 

	 	 
	
(Signature of Authorized Signatory – if the Subscriber is not an Individual)

 

  

(Name and Title  of Authorized Signatory – if the Subscriber is not an Individual)

 

  

(SIN, SSN, or other Tax Identification Number of the Subscriber)

 

 

  

(Subscriber’s Address, including postal or zip code)

 

 

  

(Telephone Number)                                                        (Email Address)

	 	
Please complete if purchasing as agent or trustee for a principal (beneficial purchaser) (a “Disclosed Principal”) and not purchasing as trustee or agent for accounts fully managed by it.

 

  

(Name of Disclosed Principal)

 

  

(Address of Disclosed Principal)

  

(Account Reference, if applicable)

  

(SIN, SSN, or other Tax Identification Number of Disclosed Principal)

	
Register the Shares and Warrants as set forth below:

 

  

(Name to Appear on Share and Warrant Certificate)

 

  

(Account Reference, if applicable)

 

  

(Address, including postal or zip code)

	 	
Deliver the Shares and Warrants as set forth below:

  

(Attention - Name)

  

(Account Reference, if applicable)

 

  

(Street Address, including postal or zip code – no PO Boxes permitted)

  

(Telephone Number)

	
Number and kind of securities of the Issuer held, directly or indirectly, or over which control or direction is exercised by, the Subscriber, if any (i.e., shares, warrants, options):  

 

  

 

	 	
1. State whether the Subscriber is an Insider of the Issuer:

      Yes                      No

2. State whether the Subscriber is a member of the Pro Group:

      Yes                      No

3. State whether the Subscriber has a current Form 4C on file with the TSX Venture Exchange (if not an individual):

      Yes                      No

4. State whether the Subscriber is a registrant:

      Yes                      No

ACCEPTANCE

The Issuer hereby accepts the Subscription (as defined herein) on the terms and conditions contained in this private placement subscription agreement (this “Agreement”) as of the _____ day of September, 2018 (the “Closing Date”).

THE ALKALINE WATER COMPANY INC.

Per:     _________________________________  

             Authorized Signatory

Address:              14646 N. Kierland Blvd.

 Suite 255

 Scottsdale, AZ  85254

Email:                    ricky@wtfcpa.com

Attention:             Richard A. Wright

 

TERMS AND CONDITIONS OF SUBSCRIPTION FOR UNITS

	
1.

	
Subscription

1.1 On the basis of the representations and warranties, and subject to the terms and conditions, set forth in this Agreement, the Subscriber hereby irrevocably subscribes for and agrees to purchase such number of Units as is set forth on page 2 of this Agreement at a price of $2.50 per Unit for the Subscription Amount shown on page 2 of this Agreement, which is tendered herewith (such subscription and agreement to purchase being the “Subscription”), and the Issuer agrees to sell the Units to the Subscriber, effective upon the Issuer’s acceptance of this Agreement.

1.2 Each Unit will consist of one Share and one Warrant.  The Warrants will not be transferable.  Each Warrant will entitle the holder thereof to purchase one Warrant Share, as presently constituted, for a period of two (2) years commencing from the Closing Date at an exercise price of $2.90 per Warrant Share.  The Units, the Shares, the Warrants and the Warrant Shares are referred to herein as the “Securities”.

1.3 The Subscriber acknowledges that the Units have been offered to the Subscriber as part of an offering by the Issuer of additional Units to other subscribers (the “Offering”).

1.4 All dollar amounts referred to in this Agreement are in lawful money of Canada, unless otherwise indicated.

	
2.

	
Payment

2.1 The Subscription Amount must accompany this Subscription and will be paid: (i) if the Subscriber is drawing funds from a Canadian bank to pay for this Subscription, by a certified cheque or bank draft drawn on a Canadian chartered bank or by wire transfer to the Issuer pursuant to wiring instructions to be provided by the Issuer upon request from the Subscriber; or (ii) if the Subscriber is drawing funds from any source other than a Canadian chartered bank to pay for this Subscription, then only by wire transfer to the Issuer pursuant to wiring instructions to be provided by the Issuer upon request from the Subscriber. If the Subscription Amount is wired or sent to Clark Wilson LLP, the Issuer’s lawyers (the “Issuer’s Counsel”), the Subscriber irrevocably authorizes the Issuer’s Counsel to immediately deliver the Subscription Amount to the Issuer upon receipt of the Subscription Amount from the Subscriber, notwithstanding that such delivery may be made by the Issuer’s Counsel to the Issuer prior to the closing of the Offering (the “Closing”). The Subscriber authorizes the Issuer to treat the Subscription Amount as an interest free loan until the Closing.

2.2 The Subscriber acknowledges and agrees that this Agreement, the Subscription Amount and any other documents delivered in connection herewith will be held by or on behalf of the Issuer.  In the event that this Agreement is not accepted by the Issuer for whatever reason, which the Issuer expressly reserves the right to do, the Issuer will return the Subscription Amount (without interest thereon) to the Subscriber at the address of the Subscriber as set forth on page 2 of this Agreement, or as otherwise directed by the Subscriber.

	
3.

	
Documents Required from Subscriber

3.1 The Subscriber must complete, sign and return to the Issuer the following documents:

	
(a)

	
this Agreement;

 

	
(b)

	
if the Subscriber is a resident of Canada, the Canadian Investor Questionnaire (the “Canadian Questionnaire”) attached as Exhibit A that starts on page 15;

	
(c)

	
if the Subscriber is a U.S. Purchaser (as defined in Exhibit B), the United States Accredited Investor Questionnaire (the “U.S. Questionnaire” and, together with the Canadian Questionnaire, the “Questionnaires”) attached as Exhibit B that starts on page 29;

	
(d)

	
all individual accredited investors (not corporations, partnerships or trusts) must fill in and execute Form 45-106F9 which starts on page 27;

	
(e)

	
if the Subscriber is not subscribing through a person registered as a broker or an exempt market dealer (as defined in National Instrument 31-103 – Registration Requirements and Exemptions) or the Subscriber is not acquiring the Securities directly from the Issuer without involvement of a finder, the “Risk Acknowledgement Form” attached as Exhibit C that is on page 34;

	
(f)

	
if the Subscriber is not an individual or is a portfolio manager and does not have a current Corporate Placee Registration Form on file with the TSX Venture Exchange (the “Exchange”), the Corporate Placee Registration Form attached as Exhibit D that starts on page 36, unless the Subscriber has previously submitted this form to the Exchange, there have been no changes to its content, and the Subscriber has checked the box to that effect on page 2 of this Agreement;

	
(g)

	
the Selling Stockholder Questionnaire attached as Exhibit F that starts on page 39; and

	
(h)

	
such other supporting documentation that the Issuer or the Issuer’s Counsel may request to establish the Subscriber’s qualification as a qualified investor,

and the Subscriber acknowledges and agrees that the Issuer will not consider the Subscription for acceptance unless the Subscriber has provided all such documents to the Issuer.

3.2 As soon as practicable upon any request by the Issuer, the Subscriber will complete, sign and return to the Issuer any additional documents, questionnaires, notices and undertakings as may be required by any regulatory authorities or applicable laws.

3.3 The Issuer and the Subscriber acknowledge and agree that the Issuer’s Counsel has acted as counsel only to the Issuer and is not protecting the rights and interests of the Subscriber.  The Subscriber acknowledges and agrees that the Issuer and the Issuer’s Counsel have given the Subscriber the opportunity to seek, and are hereby recommending that the Subscriber obtain, independent legal advice with respect to the subject matter of this Agreement and, further, the Subscriber hereby represents and warrants to the Issuer and the Issuer’s Counsel that the Subscriber has sought independent legal advice or waives such advice.

	
4.

	
Conditions and Closing

4.1 The Closing Date will occur on such date as may be determined by the Issuer in its sole discretion.  The Issuer may, at its discretion, elect to close the Offering in one or more closings.

4.2 The Closing is conditional upon and subject to:

 

	
(a)

	
the Issuer having obtained all necessary approvals and consents, including regulatory approvals for the Offering;

	
(b)

	
the issue and sale of the Units being exempt from the requirement to file a prospectus and the requirement to deliver an offering memorandum under applicable securities laws relating to the sale of the Units, or the Issuer having received such orders, consents or approvals as may be required to permit such sale without the requirement to file a prospectus or deliver an offering memorandum; and

	
(c)

	
the Issuer having obtained approval of the Exchange for the Offering.

4.3 The Subscriber acknowledges that the certificates representing the Shares and the Warrants will be available for delivery within five business days of the Closing Date, provided that the Subscriber has satisfied the requirements of Section 3 hereof and the Issuer has accepted this Agreement.

	
5.

	
Acknowledgements and Agreements of the Subscriber

5.1 The Subscriber acknowledges and agrees that:

	
(a)

	
none of the Securities have been or will be registered under the United States Securities Act of 1933, as amended, (the “1933 Act”), or under any securities or “blue sky” laws of any state of the United States, and, unless so registered, may not be offered or sold in the United States or, directly or indirectly, to any U.S. Person (as defined in Section 6.2), except in accordance with the provisions of Regulation S under the 1933 Act (“Regulation S”), pursuant to an effective registration statement under the 1933 Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and in each case only in accordance with all applicable state, provincial and foreign securities laws;

	
(b)

	
the Issuer has not undertaken, and will have no obligation, to register any of the Securities under the 1933 Act or any other applicable securities laws;

	
(c)

	
the Issuer will refuse to register the transfer of any of the Securities to a U.S. Person not made pursuant to an effective registration statement under the 1933 Act or pursuant to an available exemption from the registration requirements of the 1933 Act and in each case in accordance with all applicable laws;

 

	
(d)

	
the decision to execute this Agreement and to acquire the Securities has not been based upon any oral or written representation as to fact or otherwise made by or on behalf of the Issuer and such decision is based entirely upon a review of any public information which has been filed by the Issuer with the United States Securities and Exchange Commission (the “SEC”) and applicable Canadian provincial securities commissions (collectively, the “Public Record”);

	
(e)

	
the Issuer and others will rely upon the truth and accuracy of the acknowledgements, representations, warranties, covenants and agreements of the Subscriber contained in this Agreement and the Questionnaires, as applicable, and agrees that if any of such acknowledgements, representations and agreements are no longer accurate or have been breached, the Subscriber will promptly notify the Issuer;

	
(f)

	
there are risks associated with the purchase of the Securities, as more fully described in the Issuer’s periodic disclosure forming part of the Public Record;

	
(g)

	
the Subscriber and the Subscriber’s advisor(s) have had a reasonable opportunity to ask questions of, and receive answers from, the Issuer in connection with the distribution of the Securities hereunder, and to obtain additional information, to the extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information about the Issuer;

	
(h)

	
a portion of this Offering may be sold pursuant to an agreement between the Issuer and one or more agents registered in accordance with applicable securities laws, in which case the Issuer will pay a fee and/or compensation securities on terms as set out in such agreement;

	
(i)

	
finder’s fees or broker’s commissions may be payable by the Issuer to finders who introduce subscribers to the Issuer;

	
(j)

	
the books and records of the Issuer were available upon reasonable notice for inspection, subject to certain confidentiality restrictions, by the Subscriber during reasonable business hours at its principal place of business, and all documents, records and books in connection with the distribution of the Securities hereunder have been made available for inspection by the Subscriber, its legal counsel and/or its advisor(s);

	
(k)

	
all of the information which the Subscriber has provided to the Issuer is correct and complete and if there should be any change in such information prior to the Closing, the Subscriber will immediately notify the Issuer, in writing, of the details of any such change;

	
(l)

	
the Issuer is entitled to rely on the representations and warranties of the Subscriber contained in this Agreement and the Questionnaires, as applicable, and the Subscriber will hold harmless the Issuer from any loss or damage it or they may suffer as a result of the Subscriber’s failure to correctly complete this Agreement or the Questionnaires, as applicable;

	
(m)

	
any resale of the Securities by the Subscriber will be subject to resale restrictions contained in the securities laws applicable to the Issuer, the Subscriber and any proposed transferee and it is the responsibility of the Subscriber to find out what those restrictions are and to comply with such restrictions before selling any of the Securities;

	
(n)

	
the Subscriber has been advised to consult the Subscriber’s own legal, tax and other advisors with respect to the merits and risks of an investment in the Securities and with respect to applicable resale restrictions, and it is solely responsible (and the Issuer is not in any way responsible) for compliance with:

	
(i)

	
any applicable laws of the jurisdiction in which the Subscriber is resident in connection with the distribution of the Securities hereunder, and

	
(ii)

	
applicable resale restrictions;

	
(o)

	
there may be material tax consequences to the Subscriber of an acquisition or disposition of the Securities and the Issuer gives no opinion and makes no representation to the Subscriber with respect to the tax consequences to the Subscriber under federal, state, provincial, local or foreign tax laws that may apply to the Subscriber’s acquisition or disposition of the Securities;

 

	
(p)

	
the Subscriber consents to the placement of a legend or legends on any certificate or other document evidencing any of the Securities setting forth or referring to the restrictions on transferability and sale thereof contained in this Agreement, with such legend(s) to be substantially as follows:

UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THESE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE [four months and one day from the Closing Date.]

and, if applicable:

WITHOUT PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL [four months and one day from the Closing Date.];

	
(q)

	
the Issuer has advised the Subscriber that the Issuer is relying on an exemption from the requirements to provide the Subscriber with a prospectus and to sell the Securities through a person registered to sell securities under provincial securities laws and other applicable securities laws, and, as a consequence of acquiring the Securities pursuant to such exemption, certain protections, rights and remedies provided by applicable securities laws (including the various provincial securities acts), including statutory rights of rescission or damages, will not be available to the Subscriber;

	
(r)

	
no securities commission or similar regulatory authority has reviewed or passed on the merits of any of the Securities;

	
(s)

	
there is no government or other insurance covering any of the Securities; and

	
(t)

	
this Agreement is not enforceable by the Subscriber unless it has been accepted by the Issuer and the Issuer reserves the right to reject this Subscription for any reason.

	
6.

	
Representations and Warranties of the Subscriber

6.1 The Subscriber hereby represents and warrants to the Issuer (which representations and warranties will survive the Closing) that:

	
(a)

	
unless the Subscriber has completed Exhibit B, the Subscriber is not a U.S. Person;

	
(b)

	
the Subscriber is resident in the jurisdiction set out on page 2 of this Agreement;

	
(c)

	
if the Subscriber is resident outside of Canada:

	
(i)

	
the Subscriber is knowledgeable of, or has been independently advised as to, the applicable securities laws having application in the jurisdiction in which the Subscriber is resident (the “International Jurisdiction”) which would apply to the offer and sale of the Securities,

 

	
(ii)

	
the Subscriber is purchasing the Securities pursuant to exemptions from prospectus or equivalent requirements under applicable laws or, if such is not applicable, the Subscriber is permitted to purchase the Securities under applicable securities laws of the International Jurisdiction without the need to rely on any exemptions,

	
(iii)

	
the applicable securities laws of the International Jurisdiction do not require the Issuer to make any filings or seek any approvals of any kind from any securities regulator of any kind in the International Jurisdiction in connection with the offer, issue, sale or resale of any of the Securities,

	
(iv)

	
the purchase of the Securities by the Subscriber does not trigger:

	
A.

	
any obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the International Jurisdiction, or

	
B.

	
any continuous disclosure reporting obligation of the Issuer in the International Jurisdiction, and

	
(v)

	
the Subscriber will, if requested by the Issuer, deliver to the Issuer a certificate or opinion of local counsel from the International Jurisdiction which will confirm the matters referred to in subparagraphs (ii), (iii) and (iv) above to the satisfaction of the Issuer, acting reasonably;

	
(d)

	
the Subscriber has the legal capacity and competence to enter into and execute this Agreement and to take all actions required pursuant hereto and, if the Subscriber is a corporate entity, it is duly incorporated and validly subsisting under the laws of its jurisdiction of incorporation and all necessary approvals by its directors, shareholders and others have been obtained to authorize execution and performance of this Agreement on behalf of the Subscriber;

	
(e)

	
the entering into of this Agreement and the transactions contemplated hereby do not result in the violation of any of the terms and provisions of any law applicable to, or, if applicable, the constating documents of, the Subscriber or of any agreement, written or oral, to which the Subscriber may be a party or by which the Subscriber is or may be bound;

	
(f)

	
the Subscriber has duly executed and delivered this Agreement and it constitutes a valid and binding agreement of the Subscriber enforceable against the Subscriber;

	
(g)

	
the Subscriber has received and carefully read this Agreement;

	
(h)

	
the Subscriber is aware that an investment in the Issuer is speculative and involves certain risks, including those risks disclosed in the Public Record and the possible loss of the entire Subscription Amount;

	
(i)

	
the Subscriber has made an independent examination and investigation of an investment in the Securities and the Issuer and agrees that the Issuer will not be responsible in any way for the Subscriber’s decision to invest in the Securities and the Issuer;

	
(j)

	
the Subscriber is not an underwriter of, or dealer in, any of the Securities, nor is the Subscriber participating, pursuant to a contractual agreement or otherwise, in the distribution of the Securities;

	
(k)

	
the Subscriber is not aware of any advertisement of any of the Securities and is not acquiring the Securities as a result of any form of general solicitation or general advertising, including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media, or broadcast over radio or television, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising; and

	
(l)

	
no person has made to the Subscriber any written or oral representations:

	
(i)

	
that any person will resell or repurchase any of the Securities,

	
(ii)

	
that any person will refund the purchase price of any of the Securities, or

	
(iii)

	
as to the future price or value of any of the Securities.

6.2 In this Agreement, the term “U.S. Person” will have the meaning ascribed thereto in Regulation S, and for the purpose of this Agreement includes, but is not limited to: (a) any person in the United States; (b) any natural person resident in the United States; (c) any partnership or corporation organized or incorporated under the laws of the United States; (d) any partnership or corporation organized outside the United States by a U.S. Person principally for the purpose of investing in securities not registered under the 1933 Act, unless it is organized or incorporated, and owned, by accredited investors who are not natural persons, estates or trusts; or (e) any estate or trust of which any executor or administrator or trustee is a U.S. Person.

	
7.

	
Representations and Warranties will be Relied Upon by the Issuer

7.1 The Subscriber acknowledges and agrees that the representations and warranties contained in this Agreement are made by it with the intention that such representations and warranties may be relied upon by the Issuer and the Issuer’s Counsel in determining the Subscriber’s eligibility to purchase the Securities under applicable laws, or, if applicable, the eligibility of others on whose behalf the Subscriber is contracting hereunder to purchase the Securities under applicable laws. The Subscriber further agrees that, by accepting delivery of the certificates representing the Shares and the Warrants, it will be representing and warranting that the representations and warranties contained herein are true and correct as at the Closing Date with the same force and effect as if they had been made by the Subscriber on the Closing Date and that they will survive the purchase by the Subscriber of the Securities and will continue in full force and effect notwithstanding any subsequent disposition by the Subscriber of such Securities.

	
8.

	
Acknowledgement and Waiver

8.1 The Subscriber has acknowledged that the decision to acquire the Securities was solely made on the basis of the Public Record.  The Subscriber hereby waives, to the fullest extent permitted by law, any rights of withdrawal, rescission or compensation for damages to which the Subscriber might be entitled in connection with the distribution of any of the Securities.

 

	
9.

	
Legending and Registration of Subject Securities

9.1 The Subscriber hereby acknowledges that a legend or legends may be placed on the certificates representing the Securities to the effect that the Securities represented by such certificates are subject to a hold period and may not be traded until the expiry of such hold period except as permitted by applicable securities laws, and the Subscriber consent to the placement of such legend(s) on any certificate representing the Securities.

9.2 The Subscriber hereby acknowledges and agrees to the Issuer making a notation on its records or giving instructions to the registrar and transfer agent of the Issuer in order to implement the restrictions on transfer set forth and described in this Agreement.

	
10.

	
Registration Rights

10.1 The Issuer will prepare and file a registration statement with respect to the Shares and the Warrant Shares (the “Registration Statement”) with the SEC on or before November 30, 2018 following the Closing and will use commercially reasonable efforts to have the Registration Statement declared effective by the SEC as soon as possible after filing.  The Registration Statement shall state, to the extent permitted by Rule 416 under the 1933 Act, that it also covers such indeterminate number of additional Shares in order to prevent dilution resulting from stock splits, stock dividends or similar events. Notwithstanding any other provision in this Section 8, if the Issuer receives a comment from the staff of the SEC that effectively results in the Issuer having to reduce the number of Shares included in such Registration Statement, then the Issuer, after having first used commercially reasonable efforts to persuade the staff of the SEC to withdraw such comment, may in its sole discretion reduce on a pro rata basis (among all subscribers in the Offering) the number of Shares to be included in the Registration Statement.

10.2 In connection with the preparation and filing of the Registration Statement, the Subscriber will furnish to the Issuer, in writing, such information and representations with respect to itself and the proposed distribution by it as are reasonably necessary in order to assure compliance with applicable federal and state securities laws. The Issuer will require the Subscriber to furnish to the Issuer, among other things as may be determined by the Issuer in its sole discretion, a certified statement as to the number of securities of the Issuer beneficially owned by the Subscriber and the name of the natural person that has voting and dispositive control over the Shares and the Warrant Shares. The Subscriber will be responsible for payment of any legal fees it incurs in connection with the Registration Statement.

10.3 The Subscriber shall indemnify and hold harmless the Issuer, its directors, officers, agents and employees, each person who controls the Issuer (within the meaning of Section 15 of the 1933 Act and Section 20 of the Securities Exchange Act of 1934), and the directors, officers, agents or employees of such controlling persons, to the fullest extent permitted by applicable law, from and against all losses, as incurred, to the extent arising out of or based solely upon: (a) the Subscriber’s failure to comply with the prospectus delivery requirements of the 1933 Act; (b) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading to the extent that: (i) such untrue statement or omission is contained in any information so furnished in writing by the Subscriber to the Issuer specifically for inclusion in the Registration Statement, (ii) such untrue statements or omissions are based solely upon information regarding the Subscriber furnished in writing to the Issuer by the Subscriber expressly for use therein, or (iii) such information relates to the Subscriber or the Subscriber’s proposed method of distribution of the Shares and the Warrant Shares and was reviewed and expressly approved in writing by the Subscriber expressly for use in the Registration Statement or in any amendment or supplement thereto; or (c) the use by the Subscriber of an outdated or defective Registration Statement after the Issuer has notified the Subscriber in writing that the Registration Statement is outdated or  defective.

 

10.4 If a claim for indemnification hereunder is unavailable to the Issuer (by reason of public policy or otherwise), then the Subscriber, in lieu of indemnifying the Issuer, shall contribute to the amount paid or payable by the Issuer as a result of such losses, in such proportion as is appropriate to reflect the relative fault of the Subscriber and the Issuer in connection with the actions, statements or omissions that resulted in such losses, as well as any other relevant equitable considerations. The relative fault of the Subscriber and the Issuer shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, the Subscriber or the Issuer, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any losses shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection with any proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this section was available to such party in accordance with its terms.

	
11.

	
Collection of Personal Information

11.1 The Subscriber acknowledges and consents to the fact that the Issuer is collecting the Subscriber’s personal information for the purpose of fulfilling this Agreement and completing the Offering.  The Subscriber acknowledges that its personal information (and, if applicable, the personal information of those on whose behalf the Subscriber is contracting hereunder) may be included in record books in connection with the Offering and may be disclosed by the Issuer to: (a) stock exchanges or securities regulatory authorities, (b) the Issuer's registrar and transfer agent, (c) Canadian tax authorities, (d) authorities pursuant to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) and (e) any of the other parties involved in the Offering, including the Issuer’s Counsel.  By executing this Agreement, the Subscriber is deemed to be consenting to the foregoing collection, use and disclosure of the Subscriber's personal information (and, if applicable, the personal information of those on whose behalf the Subscriber is contracting hereunder) for the foregoing purposes and for the purposes described in Exhibit E to this Agreement and to the retention of such personal information for as long as permitted or required by applicable laws.  Notwithstanding that the Subscriber may be purchasing the Units as agent on behalf of an undisclosed principal, the Subscriber agrees to provide, on request, particulars as to the nature and identity of such undisclosed principal, and any interest that such undisclosed principal has in the Issuer, all as may be required by the Issuer in order to comply with the foregoing.

Furthermore, the Subscriber is hereby notified that:

	
(a)

	
the Issuer may deliver to any securities commission having jurisdiction over the Issuer, the Subscriber or this Subscription, including any Canadian provincial securities commissions, the United States Securities and Exchange Commission and/or any state securities commissions (collectively, the “Commissions”), certain personal information pertaining to the Subscriber, including the Subscriber’s full name, residential address and telephone number, the number of Shares or other securities of the Issuer owned by the Subscriber, the number of Units purchased by the Subscriber, the total Subscription Amount paid for the Units, the prospectus exemption relied on by the Issuer and the date of distribution of the Units;

	
(b)

	
such information is being collected indirectly by the Commissions under the authority granted to them in applicable securities laws;

 

	
(c)

	
such information is being collected for the purposes of the administration and enforcement of applicable securities laws; and

	
(d)

	
the Subscriber may contact the following public official in Ontario with respect to questions about the Ontario Securities Commission’s indirect collection of such information at the following address and telephone number:

Administrative Assistant to the Director of Corporate Finance

Ontario Securities Commission

Suite 1903, Box 55

20 Queen Street West

Toronto, ON  M5H 3S8

 Telephone:  (416) 593-8086.

	
12.

	
Costs

12.1 The Subscriber acknowledges and agrees that all costs and expenses incurred by the Subscriber (including any fees and disbursements of any special counsel retained by the Subscriber) relating to the purchase of the Units will be borne by the Subscriber.

	
13.

	
Governing Law

13.1 This Agreement is governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein.  The Subscriber, in its personal or corporate capacity and, if applicable, on behalf of each beneficial or undisclosed purchaser for whom it is acting, irrevocably attorns to the exclusive jurisdiction of the courts of the Province of British Columbia.

	
14.

	
Survival

14.1 This Agreement, including, without limitation, the representations, warranties and covenants contained herein, will survive and continue in full force and effect and be binding upon the Issuer and the Subscriber, notwithstanding the completion of the purchase of the Securities by the Subscriber.

	
15.

	
Assignment

15.1 This Agreement is not transferable or assignable.

	
16.

	
Severability

16.1 The invalidity or unenforceability of any particular provision of this Agreement will not affect or limit the validity or enforceability of the remaining provisions of this Agreement.

	
17.

	
Entire Agreement

17.1 Except as expressly provided in this Agreement and in the exhibits, agreements, instruments and other documents attached hereto or contemplated or provided for herein, this Agreement contains the entire agreement between the parties with respect to the sale of the Units and there are no other terms, conditions, representations or warranties, whether expressed, implied, oral or written, by statute or common law, by the Issuer or by anyone else.

 

	
18.

	
Notices

18.1 All notices and other communications hereunder will be in writing and will be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication, including facsimile, electronic mail or other means of electronic communication capable of producing a printed copy.  Notices to the Subscriber will be directed to the address of the Subscriber set forth on page 2 of this Agreement and notices to the Issuer will be directed to it at the address of the Issuer set forth on page 3 of this Agreement.

	
19.

	
Beneficial Subscribers

19.1 Whether or not explicitly stated in this Agreement, any acknowledgement, representation, warranty, covenant or agreement made by the Subscriber in this Agreement, including the exhibits hereto, will be treated as if made by the Disclosed Principal, if any.

	
20.

	
Execution of Subscription Agreement

20.1 The Issuer and the Issuer’s Counsel will be entitled to rely on delivery by facsimile machine or other means of electronic communication capable of producing a printed copy of an executed copy of this Agreement, and acceptance by the Issuer of such facsimile or electronic copy will be equally effective to create a valid and binding agreement between the Subscriber and the Issuer in accordance with the terms hereof.  If less than a complete copy of this Agreement is delivered to the Issuer or the Issuer’s Counsel prior to or at Closing, the Issuer and the Issuer’s Counsel are entitled to assume that the Subscriber accepts and agrees to all of the terms and conditions of the pages not delivered prior to or at Closing unaltered.

	
21.

	
Counterparts and Electronic Means

21.1 This Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, will constitute an original and all of which together will constitute one instrument.  Delivery of an executed copy of this Agreement by electronic mail (email) transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Agreement as of the Closing Date.

	
22.

	
Exhibits

22.1 The exhibits attached hereto form part of this Agreement.

	
23.

	
Indemnity

23.1 The Subscriber will indemnify and hold harmless the Issuer and, where applicable, its directors, officers, employees, agents, advisors and shareholders, from and against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses whatsoever reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or investigation whether commenced or threatened) arising out of or based upon any representation or warranty of the Subscriber contained in this Agreement, the Questionnaires, as applicable, or in any document furnished by the Subscriber to the Issuer in connection herewith being untrue in any material respect, or any breach or failure by the Subscriber to comply with any covenant or agreement made by the Subscriber to the Issuer in connection therewith.

 

EXHIBIT A

CANADIAN INVESTOR QUESTIONNAIRE

(ALBERTA, BRITISH COLUMBIA, MANITOBA, NEWFOUNDLAND AND LABRADOR, NEW BRUNSWICK, NOVA SCOTIA, ONTARIO, PRINCE EDWARD ISLAND, QUEBEC, AND SASKATCHEWAN)

TO: The Alkaline Water Company Inc. (the “Issuer”)

RE: Purchase of units (the “Units”) of the Issuer

Capitalized terms used in this Canadian Questionnaire (this “Questionnaire”) and not specifically defined have the meaning ascribed to them in the Private Placement Subscription Agreement between the Subscriber and the Issuer to which this Exhibit A is attached.

In connection with the purchase by the Subscriber (being the undersigned, or if the undersigned is purchasing the Units as agent on behalf of a disclosed beneficial Subscriber, such beneficial Subscriber, will be referred herein as the “Subscriber”) of the Units, the Subscriber hereby represents, warrants and certifies to the Issuer that the Subscriber:

		(i)	
is purchasing the Units as principal (or deemed principal under the terms of National Instrument 45-106 – Prospectus Exemptions adopted by the Canadian Securities Administrators (“NI 45-106”));

		(ii) 	(A) 	
is resident in or is subject to the laws of one of the following (check one):

 

	
☐ Alberta

	
☐ New Brunswick

	
☐ Prince Edward Island

	
☐ British Columbia

	
☐ Nova Scotia

	
☐ Quebec

	
☐ Manitoba

	
☐ Ontario

	
☐ Saskatchewan

	
☐ Newfoundland and Labrador

	
☐ Yukon

	
☐ Northwest Territories

	 

or

		(B)	
☐ is resident in a country other than Canada; and

		(iii)	
has not been provided with any offering memorandum in connection with the purchase of the Units.

In connection with the purchase of the Units, the Subscriber hereby represents, warrants, covenants and certifies that the Subscriber meets one or more of the following criteria:

 

	
I. SUBSCRIBERS PURCHASING UNDER THE “ACCREDITED INVESTOR” EXEMPTION

	
(a)  

	
the Subscriber is not a trust company or trust company registered under the laws of Prince Edward Island that is not registered or authorized under the Trust and Loan Companies Act (Canada) or under comparable legislation in another jurisdiction of Canada,

	
(b)  

	
 the Subscriber is an “accredited investor” within the meaning of NI 45-106, by virtue of satisfying the indicated criterion below (YOU MUST INITIAL OR PLACE A CHECK-MARK ON THE APPROPRIATE LINE(S) AND ALSO COMPLETE AND SIGN APPENDIX “A” TO THIS CERTIFICATE) (see certain guidance with respect to accredited investors that starts on page 21 below)

	
1.  

	
☐

	
(i)  

	
except in Ontario, a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer,

	
2.  

	
☐

	
(ii)  

	
an individual registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (ix),

	
3.  

	
☐

	
(iii)  

	
an individual formerly registered under the securities legislation of a jurisdiction of Canada, other than an individual formerly registered solely as a representative of a limited market dealer under one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador),

	
4.  

	
☐

	
(iv)  

	
an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds $1,000,000,

	
5.  

	
☐

	
(v)  

	
an individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds $5,000,000,

	
6.  

	
☐

	
(vi)  

	
an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year,

	
7.  

	
☐

	
(vii)  

	
an individual who, either alone or with a spouse, has net assets of at least $5,000,000,

	
8.  

	
☐

	
(viii)  

	
a person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements and that has not been created or used solely to purchase or hold securities as an accredited investor as defined in this paragraph (viii),

	
9.  

	
☐

	
(ix)  

	
an investment fund that distributes or has distributed its securities only to

(i) a person that is or was an accredited investor at the time of the distribution,

(ii) a person that acquires or acquired securities in the circumstances referred to in sections 2.10 [Minimum amount investment] of NI 45-106, or 2.19 [Additional investment in investment funds] of NI 45-106, or

(iii) a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.18 [Investment fund reinvestment] of NI 45-106,

	
10.  

	
☐

	
(x)  

	
an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority, has issued a receipt,

	
11.  

	
☐

	
(xi)  

	
a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust company or trust corporation, as the case may be,

	
12.  

	
☐

	
(xii)  

	
a person acting on behalf of a fully managed account managed by that person, if that person is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction,

	
13.  

	
☐

	
(xiii)  

	
a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded,

	
14.  

	
☐

	
(xiv)  

	
an entity organized in a foreign jurisdiction that is analogous to the entity referred to in paragraph (i) in form and function,

	
15.  

	
☐

	
(xv)  

	
a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors, and

	
(c)  

	
if the Subscriber is an “accredited investor” within the meaning of NI 45-106 by virtue of satisfying the indicated criterion as set out in paragraphs (iv), (vi) or (vii) above, the Subscriber has provided the Issuer with the signed risk acknowledgment form set out in Appendix “A” to this certificate;

 

	
II. SUBSCRIBERS PURCHASING UNDER THE “FAMILY, FRIENDS AND BUSINESS ASSOCIATES” EXEMPTION

	
(a)  

	
the Subscriber is (please initial or place a check-mark on the appropriate line below and provide the requested information, as applicable):

	 	
☐

	
(i)  

	
a director, executive officer or control person of the Issuer, or of an affiliate of the Issuer,

	 	
☐

	
(ii)  

	
a spouse, parent, grandparent, brother, sister, child or grandchild of _________________________________ (print name of person), who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,

	 	
☐

	
(iii)  

	
a parent, grandparent, brother, sister, child or grandchild of the spouse of ___________________________________ (print name of person), who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,

	 	
☐

	
(iv)  

	
 a close personal friend (see guidance on making this determination that starts on page 25 below) of ___________________________________ (print name of person), who is a director, executive officer, founder or control person of the Issuer, or of an affiliate of the Issuer, and has been for __________________________ years based on the following factors: ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________(explain the nature of the close personal friendship),

	 	
☐

	
(v)  

	
a close business associate (see guidance on making this determination that starts on page 24 below) of ___________________________________ (print name of person), who is a director, executive officer, founder or control person of the Issuer, or of an affiliate of the Issuer, and has been for __________________________ years based on the following factors

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ (explain the nature of the close business association),

	 	
☐

	
(vi)  

	
a founder of the Issuer or a spouse, parent, grandparent, brother, sister, child, grandchild, close personal friend or close business associate (see guidance on making these determinations that starts on page 24 below) of ________________________________ (print name of person), who is a founder of the Issuer, and, if a close personal friend or close business associate of such person, has been for __________________________ years based on the following factors:

_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________(explain the nature of the close personal friendship or business association),

	 	
☐

	
(vii)  

	
a parent, grandparent, brother, sister, child or grandchild of the spouse of ______________________________ (print name of person), who is a founder of the Issuer,

	 	
☐

	
(viii)  

	
a company of which a majority of the voting securities are beneficially owned by, or a majority of the directors are, persons or companies described in subsections II(a)(i) to II(a)(vii) above, or

	 	
☐

	
(ix)  

	
a trust or estate of which all of the beneficiaries or a majority of the trustees or executors are persons or companies described in subsections II(a)(i) to II(a)(viii) above;

	
(b)

	
if the Subscriber is resident in the Province of Ontario or is subject to the securities laws of the Province of Ontario, the Subscriber has provided the Issuer with a signed risk acknowledgement form (to be provided by the Issuer on request);

	
(c)

	
if the Subscriber is resident in the Province of Saskatchewan or is subject to the securities laws of the Province of Saskatchewan, and the Subscriber is relying on the indicated criterion as set out in subsections II(a)(iv), II(a)(v) or II(a)(viii) or II(a)(ix) if the distribution is based in whole or in part on a close personal friendship or a close business association, the Subscriber has provided the Issuer with a signed risk acknowledgement form (to be provided by the Issuer on request);

 

	
III. SUBSCRIBERS PURCHASING UNDER THE MINIMUM AMOUNT INVESTMENT

 

	
(a)  

	
the Subscriber is not an individual as that term is defined in applicable Canadian securities laws,

	
(b)  

	
the Subscriber is purchasing the Units as principal for its own account and not for the benefit of any other person,

	
(c)  

	
the Units have an acquisition cost to the Subscriber of not less than $150,000, payable in cash at the Closing, and

	
(d)  

	
the Subscriber was not created and is not being used solely to purchase or hold securities in reliance on the prospectus exemption provided under Section 2.10 of NI 45-106, it pre-existed the Offering and has a bona fide purpose other than investment in the Units.

For the purposes of the Canadian Investor Questionnaire and Appendix “A” attached to the Canadian Investor Questionnaire:

(a) an issuer is “affiliated” with another issuer if

		(i)	
one of them is the subsidiary of the other, or

		(ii)	
each of them is controlled by the same person;

(b) “control person” means

		(i)	
a person who holds a sufficient number of the voting rights attached to all outstanding voting securities of an issuer to affect materially the control of the issuer, or

		(ii)	
each person in a combination of persons, acting in concert by virtue of an agreement, arrangement, commitment or understanding, which holds in total a sufficient number of the voting rights attached to all outstanding voting securities of an issuer to affect materially the control of the issuer,

and, if a person or combination of persons holds more than 20% of the voting rights attached to all outstanding voting securities of an issuer, the person or combination of persons is deemed, in the absence of evidence to the contrary, to hold a sufficient number of the voting rights to affect materially the control of the issuer;

(c) “director” means

		(i)	
a member of the board of directors of a company or an individual who performs similar functions for a company, and

		(ii)	
with respect to a person that is not a company, an individual who performs functions similar to those of a director of a company;

(d) “eligibility adviser” means

		(i)	
a person that is registered as an investment dealer and authorized to give advice with respect to the type of security being distributed; and

		(ii)	
in Saskatchewan or Manitoba, also means a lawyer who is a practicing member in good standing with a law society of a jurisdiction of Canada or a public accountant who is a member in good standing of an institute or association of chartered accountants, certified general accountants or certified management accountants in a jurisdiction of Canada provided that the lawyer or public accountant must not:

		(A)	
have a professional, business or personal relationship with the issuer, or any of its directors, executive officers, founders or control persons, and

		(B)	
have acted for or been retained personally or otherwise as an employee, executive officer, director, associate or partner of a person that has acted for or been retained by the issuer or any of its directors, executive officers, founders or control persons within the previous 12 months;

 

(e) “executive officer” means, for an issuer, an individual who is

		(i)	
a chair, vice-chair or president,

		(ii)	
a vice-president in charge of a principal business unit, division or function including sales, finance or production, or

		(iii)	
performing a policy-making function in respect of the issuer;

(f) “financial assets” means

		(i)	
cash,

		(ii)	
securities, or

		(iii)	
a contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation;

		(g)	
“foreign jurisdiction” means a country other than Canada or a political subdivision of a country other than Canada;

(h) “founder” means, in respect of an issuer, a person who,

		(i)	
acting alone, in conjunction, or in concert with one or more persons, directly or indirectly, takes the initiative in founding, organizing or substantially reorganizing the business of the issuer, and

		(ii)	
at the time of the distribution or trade is actively involved in the business of the issuer;

		(i)	
“fully managed account” means an account of a client for which a person makes the investment decisions if that person has full discretion to trade in securities for the account without requiring the client’s express consent to a transaction;

		(j)	
“individual” means a natural person, but does not include

		(i)	
a partnership, unincorporated association, unincorporated syndicate, unincorporated organization or trust, or

		(ii)	
a natural person in the person's capacity as a trustee, executor, administrator or personal or other legal representative;

		(k)	
“investment fund” means a mutual fund or a non-redeemable investment fund, and, for great certainty in British Columbia, includes an employee venture capital corporation and a venture capital corporation as such terms are defined in National Instrument 81-106 Investment Fund Continuous Disclosure;

		(l)	
“jurisdiction” or “jurisdiction of Canada” means a province or territory of Canada except when used in the term foreign jurisdiction;

		(m)	
“non-redeemable investment fund” means an issuer:

(i) whose primary purpose is to invest money provided by its securityholders;

(ii) that does not invest

		(A)	
for the purpose of exercising or seeking to exercise control of an issuer, other than an issuer that is a mutual fund or a non-redeemable investment fund, or

		(B)	
for the purpose of being actively involved in the management of any issuer in which it invests, other than an issuer that is a mutual fund or a non-redeemable investment fund, and

(iii) that is not a mutual fund;

(n) “person” includes

		(i)	
an individual;

		(ii)	
a corporation;

		(iii)	
a partnership, trust, fund and an association, syndicate, organization or other organized group of persons, whether incorporated or not; and

		(iv)	
an individual or other person in that person’s capacity as a trustee, executor, administrator or personal or other legal representative;

(o) “related liabilities” means

		(i)	
liabilities incurred or assumed for the purpose of financing the acquisition or ownership of financial assets, or

		(ii)	
liabilities that are secured by financial assets; and

(p) “spouse” means, an individual who,

		(i)	
is married to another individual and is not living separate and apart within the meaning of the Divorce Act (Canada), from the other individual,

		(ii)	
is living with another individual in a marriage-like relationship, including a marriage-like relationship between individuals of the same gender, or

		(iii)	
in Alberta, is an individual referred to in paragraph (i) or (ii), or is an adult interdependent partner within the meaning of the Adult Interdependent Relationships Act (Alberta).

Guidance On Accredited Investor Exemptions for Individuals

An individual accredited investor is an individual:

	
(a)

	
who, either alone or with a spouse, beneficially owns financial assets (please see the guidance below regarding what financial assets are) having an aggregate realizable value that. before taxes but net of any related liabilities (please see the guidance below regarding what related liabilities are), exceeds $1,000,000;

	
(b)

	
whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year;

 

	
(c)

	
who, either alone or with a spouse, has net assets (please see the guidance below regarding calculating net assets) of at least $5,000,000; and

	
(d)

	
who beneficially owns financial assets (please see the guidance below regarding what financial assets are) having an aggregate realizable value that, before taxes but net of any related liabilities (please see the guidance below regarding what related liabilities are), exceeds $5,000,000.

The monetary thresholds above are intended to create bright-line standards. Subscribers who do not satisfy these monetary thresholds do not qualify as accredited investors.

Spouses

Sections (a), (b) and (c) above are designed to treat spouses as a single investing unit, so that either spouse qualifies as an accredited investor if the combined financial assets of both spouses exceed $1,000,000, the combined net income of both spouses exceeds $300,000, or the combined net assets of both spouses exceed $5,000,000. Section (d) above does not treat spouses as a single investing unit.

If the combined net income of both spouses does not exceed $300,000, but the net income of one of the spouses exceeds $200,000, only the spouse whose net income exceeds $200,000 qualifies as an accredited investor.

Financial Assets and Related Liabilities

For the purposes of Sections (a) and (d) above, “financial assets” means: (1) cash, (2) securities, or (3) a contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation. These financial assets are generally liquid or relatively easy to liquidate. The value of a subscriber’s personal residence is not included in a calculation of financial assets.

The calculation of financial assets must exclude “related liabilities”, meaning: (1) liabilities incurred or assumed for the purpose of financing the acquisition or ownership of financial assets, or (2) liabilities that are secured by financial assets.

As a general matter, it should not be difficult to determine whether financial assets are beneficially owned by an individual, an individual’s spouse, or both, in any particular instance. However, in the case where financial assets are held in a trust or in another type of investment vehicle for the benefit of an individual, there may be questions as to whether the individual beneficially owns the financial assets. The following factors are indicative of beneficial ownership of financial assets:

	
·

	
physical or constructive possession of evidence of ownership of the financial asset;

	
·

	
entitlement to receipt of any income generated by the financial asset;

	
·

	
risk of loss of the value of the financial asset; and

	
·

	
the ability to dispose of the financial asset or otherwise deal with it as the individual sees fit.

For example, securities held in a self-directed RRSP for the sole benefit of an individual are beneficially owned by that individual.

In general, financial assets in a spousal RRSP can be included for the purposes of the $1,000,000 financial asset test in Section (a) above because Section (a) takes into account financial assets owned beneficially by a spouse. However, financial assets in a spousal RRSP cannot be included for purposes of the $5,000,000 financial asset test in Section (d) above.

Financial assets held in a group RRSP under which the individual does not have the ability to acquire the financial assets and deal with them directly do not meet the beneficial ownership requirements in either Sections (a) or (d) above.

Net Assets

For the purposes of Section (c) above, “net assets” means all of a subscriber’s total assets minus all of the subscriber’s total liabilities. Accordingly, for the purposes of the net asset test, the calculation of total assets includes the value of a subscriber’s personal residence, and the calculation of total liabilities includes the amount of any liability (such as a mortgage) in respect of the subscriber’s personal residence.

To calculate a subscriber’s net assets under the net asset test, subtract the subscriber’s total liabilities from the subscriber’s total assets. The value attributed to assets should reasonably reflect their estimated fair value. Income tax is considered a liability if the obligation to pay it is outstanding at the time of the distribution of the security to the subscriber by the Company.

Guidance On Accredited Investor Exemptions for Corporations, Trusts and Other Entities

Accredited investors that are corporations, trusts or other entities include:

	
(a)

	
a corporation, trust or other entity, other than an investment fund, that has net assets (please see the guidance below regarding calculating net assets) of at least $5,000,000 as shown on its most recently prepared financial statements in accordance with applicable generally accepted accounting principles and that has not been created or used solely to purchase or hold securities as an accredited investor;

	
(b)

	
a corporation, trust or other entity in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors; and

	
(c)

	
a trust established by an accredited investor for the benefit of the accredited investor’s family members of which a majority of the trustees are accredited investors and all of the beneficiaries are the accredited investor’s spouse, a former spouse of the accredited investor or a parent, grandparent, brother, sister, child or grandchild of that accredited investor, of that accredited investor’s spouse or of that accredited investor’s former spouse.

Net Assets

For the purposes of Section (a) above, “net assets” means all of the subscriber’s total assets minus all of the subscriber’s total liabilities. The minimum net asset threshold of $5,000,000 specified in Section (a) above must be shown on the entity’s most recently prepared financial statements. The financial statements must be prepared in accordance with applicable generally accepted accounting principles.

 

Guidance on Close Personal Friend and Close Business Associate Determination

A “close personal friend” of a director, executive officer, founder or control person of an issuer is an individual who knows the director, executive officer, founder or control person well enough and has known them for a sufficient period of time to be in a position to assess their capabilities and trustworthiness and to obtain information from them with respect to the investment.

The following factors are relevant to this determination:

		(a)	
the length of time the individual has known the director, executive officer, founder or control person,

		(b)	
the nature of the relationship between the individual and the director, executive officer, founder or control person including such matters as the frequency of contacts between them and the level of trust and reliance in the other circumstances, and

		(c)	
the number of “close personal friends” of the director, executive officer, founder or control person to whom securities have been distributed in reliance on the private issuer exemption or the family, friends and business associates exemption.

An individual is not a close personal friend solely because the individual is:

		(a)	
a relative,

		(b)	
a member of the same club, organization, association or religious group,

		(c)	
a co-worker, colleague or associate at the same workplace,

		(d)	
a client, customer, former client or former customer,

		(e)	
a mere acquaintance, or

		(f)	
connected through some form of social media, such as Facebook, Twitter or LinkedIn.

The relationship between the individual and the director, executive officer, founder or control person must be direct. For example, the exemption is not available to a close personal friend of a close personal friend of a director of the issuer. Further, a relationship that is primarily founded on participation in an internet forum is not considered to be that of a close personal friend.

A “close business associate” is an individual who has had sufficient prior business dealings with a director, executive officer, founder or control person of the issuer to be in a position to assess their capabilities and trustworthiness and to obtain information from them with respect to the investment.

The following factors are relevant to this determination:

		(a)	
the length of time the individual has known the director, executive officer, founder or control person,

		(b)	
the nature of any specific business relationships between the individual and the director, executive officer, founder or control person, including, for each relationship, when it began, the frequency of contact between them and when it terminated if it is not ongoing, and the level of trust and reliance in the other circumstances,

		(c)	
the nature and number of any business dealings between the individual and the director, executive officer, founder or control person, the length of the period during which they occurred, and the nature and date of the most recent business dealing, and

		(d)	
the number of “close business associates” of the director, executive officer, founder or control person to whom securities have been distributed in reliance on the private issuer exemption or the family, friends and business associates exemption.

 

An individual is not a close business associate solely because the individual is:

		(a)	
a member of the same club, organization, association or religious group,

		(b)	
a co-worker, colleague or associate at the same workplace,

		(c)	
a client, customer, former client or former customer,

		(d)	
a mere acquaintance, or

		(e)	
connected through some form of social media, such as Facebook, Twitter or LinkedIn.

The relationship between the individual and the director, executive officer, founder or control person must be direct. For example, the exemptions are not available for a close business associate of a close business associate of a director of the issuer. Further, a relationship that is primarily founded on participation in an internet forum is not considered to be that of a close business associate.

The Subscriber agrees that the above representations and warranties will be true and correct both as of the execution of this Questionnaire and as of the Closing and acknowledges that they will survive the completion of the issue of the Units.

The Subscriber acknowledges that the foregoing representations and warranties are made by the Subscriber with the intent that they be relied upon in determining the suitability of the Subscriber to acquire the Units and that this Questionnaire is incorporated into and forms part of the Agreement and the undersigned undertakes to immediately notify the Issuer of any change in any statement or other information relating to the Subscriber set forth herein which takes place prior to the closing time of the purchase and sale of the Units.

The Subscriber undertakes to immediately notify the Issuer of any change in any statement or other information relating to the Subscriber set forth in the Agreement or in this Questionnaire which takes place prior to the Closing.

Page 5

By completing this Questionnaire, the Subscriber authorizes the indirect collection of this information by each applicable regulatory authority or regulator and acknowledges that such information is made available to the public under applicable laws.

DATED as of _______ day of __________________, 2018.

	 	 	
X

	 	 	
Signature of individual (if Subscriber is an individual)

	 	 	
X

	 	 	
Authorized signatory (if Subscriber is not an individual)

	 	 	 
	 	 	
Name of Subscriber (please print)

	 	 	 
	 	 	
Name of authorized signatory (please print)

 

APPENDIX “A”

 TO CANADIAN INVESTOR QUESTIONNAIRE

Form 45-106F9

Form for Individual Accredited Investors

	
WARNING!

This investment is risky. Don’t invest unless you can afford to lose all the money you pay for this investment.

	
SECTION 1 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER

	
1. About your investment

	
Type of securities: Units of the Issuer at a price of $2.50 per Unit. Each Unit will consist of one common share in the capital of the Issuer and one non-transferable warrant. Each warrant will entitle the holder thereof to purchase one common share in the capital of the Issuer, as presently constituted, for a period of two years following the date of issue of the units at an exercise price of $2.90 per share.

	
Issuer: The Alkaline Water Company Inc. (the “Issuer”)

	
Purchased from: The Issuer.

	
SECTIONS 2 TO 4 TO BE COMPLETED BY THE PURCHASER

	
2. Risk acknowledgement

	
This investment is risky. Initial that you understand that:

	
Your

 initials

	
Risk of loss – You could lose your entire investment of $__________. [Instruction: Insert the total dollar amount of the investment.]

	 
	
Liquidity risk – You may not be able to sell your investment quickly – or at all.

	 
	
Lack of information – You may receive little or no information about your investment.

	 
	
Lack of advice – You will not receive advice from the salesperson about whether this investment is suitable for you unless the salesperson is registered. The salesperson is the person who meets with, or provides information to, you about making this investment. To check whether the salesperson is registered, go to www.aretheyregistered.ca.

	 
	
3. Accredited investor status

	
You must meet at least one of the following criteria to be able to make this investment. Initial the statement that applies to you. (You may initial more than one statement.) The person identified in section 6 is responsible for ensuring that you meet the definition of accredited investor. That person, or the salesperson identified in section 5, can help you if you have questions about whether you meet these criteria.

	
Your

 initials

	
· Your net income before taxes was more than $200,000 in each of the 2 most recent calendar years, and you expect it to be more than $200,000 in the current calendar year. (You can find your net income before taxes on your personal income tax return.)

	 
	
· Your net income before taxes combined with your spouse’s was more than $300,000 in each of the 2 most recent calendar years, and you expect your combined net income before taxes to be more than $300,000 in the current calendar year.

	 
	
· Either alone or with your spouse, you own more than $1 million in cash and securities, after subtracting any debt related to the cash and securities.

	 
	
· Either alone or with your spouse, you have net assets worth more than $5 million. (Your net assets are your total assets (including real estate) minus your total debt.)

	 
	
4. Your name and signature

	
By signing this form, you confirm that you have read this form and you understand the risks of making this investment as identified in this form.

	
First and last name (please print):

	
Signature:

	
Date:

	
SECTION 5 TO BE COMPLETED BY THE SALESPERSON

	
5. Salesperson information

	
[Instruction: The salesperson is the person who meets with, or provides information to, the purchaser with respect to making this investment. That could include a representative of the issuer or selling security holder, a registrant or a person who is exempt from the registration requirement.]

	
First and last name of salesperson (please print):

	
Telephone:

	
Email:

	
Name of firm (if registered):

	
SECTION 6 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER

	
6. For more information about this investment

	
For investment in a non-investment fund

	
The Alkaline Water Company Inc.

	
14646 N. Kierland Blvd., Suite 255

	
Scottsdale, AZ  85254

	
Telephone: 480-656-2423

	
Attention:  Richard A. Wright

	
Email: ricky@wtfcpa.com

	
For more information about prospectus exemptions, contact your local securities regulator. You can find contact information at www.securities-administrators.ca.

EXHIBIT B

UNITED STATES ACCREDITED INVESTOR QUESTIONNAIRE

Capitalized terms used in this U.S. Questionnaire (this “Questionnaire”) and not specifically defined have the meaning ascribed to them in the Private Placement Subscription Agreement between the Subscriber and the Issuer to which this Exhibit B is attached (the “Subscription Agreement”).

This Questionnaire applies only to persons that are U.S. Purchasers.  A “U.S. Purchaser” is: (a) any U.S. Person, (b) any person purchasing the Units on behalf of any U.S. Person, (c) any person that receives or received an offer of the Units while in the United States, or (d) any person that is in the United States at the time the Subscriber’s buy order was made or this Agreement was executed or delivered.

The Subscriber understands and agrees that none of the Securities have been or will be registered under the 1933 Act, or applicable state, provincial or foreign securities laws, and the Securities are being offered and sold to the Subscriber in reliance upon the exemption provided in Section 4(2) of the 1933 Act and Rule 506 of Regulation D under the 1933 Act for non-public offerings. The Securities are being offered and sold within the United States only to “accredited investors” as defined in Rule 501(a) of Regulation D.  The Securities offered hereby are not transferable except in accordance with the restrictions described herein.

The Subscriber represents, warrants, covenants and certifies (which representations, warranties, covenants and certifications will survive the Closing) to the Issuer (and acknowledges that the Issuer is relying thereon) that:

	
1.

	
it is not resident in Canada;

	
2.

	
it has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Securities and it is able to bear the economic risk of loss of its entire investment;

	
3.

	
the Issuer has provided to it the opportunity to ask questions and receive answers concerning the terms and conditions of the Offering and it has had access to such information concerning the Issuer as it has considered necessary or appropriate in connection with its investment decision to acquire the Securities;

	
4.

	
it is acquiring the Securities as principal for its own account, for investment purposes only and not with a view to any resale, distribution or other disposition of the Securities in violation of the United States securities laws;

	
5.

	
it (i) has adequate net worth and means of providing for its current financial needs and possible personal contingencies, (ii) has no need for liquidity in this investment, and (iii) is able to bear the economic risks of an investment in the Securities for an indefinite period of time;

 

	
6.

	
if the Subscriber is an individual (that is, a natural person and not a corporation, partnership, trust or other entity), then it satisfies one or more of the categories indicated below (please place an “X” on the appropriate lines):

	
___________

	
a natural person whose individual net worth, or joint net worth with that person’s spouse, exceeds US$1,000,000. For purposes of this category, “net worth” means the excess of total assets at fair market value (including personal and real property, but excluding the estimated fair market value of a person’s primary home) over total liabilities. Total liabilities excludes any mortgage on the primary home in an amount of up to the home’s estimated fair market value as long as the mortgage was incurred more than 60 days before the Units are purchased, but includes (i) any mortgage amount in excess of the home’s fair market value and (ii) any mortgage amount that was borrowed during the 60 day period before the Closing Date for the purpose of investing in the Units,

	
___________

	
a natural person who had an individual income in excess of US$200,000 in each of the two most recent years, or joint income with their spouse in excess of US$300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year, or

	
___________

	
a director or executive officer of the Issuer;

	
7.

	
if the Subscriber is a corporation, partnership, trust or other entity), then it satisfies one or more of the categories indicated below (please place an “X” on the appropriate lines):

	
___________

	
an organization described in Section 501(c)(3) of the United States Internal Revenue Code, a corporation, a Massachusetts or similar business trust or partnership, not formed for the specific purpose of acquiring the Shares, with total assets in excess of US$5,000,000,

	
___________

	
a “bank” as defined under Section (3)(a)(2) of the 1933 Act or savings and loan association or other institution as defined in Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary capacity; a broker dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934 (United States); an insurance company as defined in Section 2(13) of the 1933 Act; an investment company registered under the Investment Company Act of 1940 (United States) or a business development company as defined in Section 2(a)(48) of such Act; a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958 (United States); a plan with total assets in excess of US$5,000,000 established and maintained by a state, a political subdivision thereof, or an agency or instrumentality of a state or a political subdivision thereof, for the benefit of its employees; an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (United States) whose investment decisions are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company or registered investment adviser, or if the employee benefit plan has total assets in excess of US$5,000,000, or, if a self-directed plan, whose investment decisions are made solely by persons that are accredited investors,

	
___________

	
a private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940 (United States),

	
___________

	
a trust with total assets in excess of US$5,000,000, not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the 1933 Act, or

	
___________

	
an entity in which all of the equity owners satisfy the requirements of one or more of the categories set forth in Section 6 of this Questionnaire;

 

	
8.

	
it has not purchased the Securities as a result of any form of general solicitation or general advertising, including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, internet, television or other form of telecommunications, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising;

	
9.

	
if the Subscriber decides to offer, sell or otherwise transfer any of the Securities, it will not offer, sell or otherwise transfer any of such Securities, directly or indirectly, unless:

	
(a)

	
the sale is to the Issuer,

	
(b)

	
the sale is made outside the United States in a transaction meeting the requirements of Rule 904 of Regulation S under the 1933 Act and in compliance with applicable local laws and regulations in which such sale is made;

	
(c)

	
the sale is made pursuant to the exemption from the registration requirements under the 1933 Act provided by Rule 144 thereunder and in accordance with any applicable state securities or “blue sky” laws, or

	
(d)

	
the Securities are sold in a transaction that does not require registration under the 1933 Act or any applicable state laws and regulations governing the offer and sale of securities, and

	
(e)

	
it has, prior to such sale pursuant to subsection (c) or (d), furnished to the Issuer an opinion of counsel of recognized standing reasonably satisfactory to the Issuer, to such effect;

	
10.

	
it understands and acknowledges that, upon the issuance thereof, and until such time as the same is no longer required under the applicable requirements of the 1933 Act or applicable U.S. state laws and regulations, the certificates representing the Securities, and all securities issued in exchange therefor or in substitution thereof, will bear a legend (in addition to the legends required by Canadian securities laws and the TSX Venture Exchange) in substantially the following form:

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”).  THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF THE ALKALINE WATER COMPANY INC. (THE “ISSUER”) THAT SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE ISSUER; (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT OR (C) IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS; OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND, IN THE CASE OF PARAGRAPH (C) OR (D), THE SELLER FURNISHES TO THE ISSUER AN OPINION OF COUNSEL OF RECOGNIZED STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO SUCH EFFECT.  DELIVERY OF THIS CERTIFICATE MAY NOT CONSTITUTE GOOD DELIVERY IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.”

 

Delivery of certificates bearing such a legend may not constitute “good delivery” in settlement of transactions on Canadian stock exchanges or over-the-counter markets. If the Issuer is a “foreign issuer” with no “substantial U.S. market interest” (all within the meaning of Regulation S under the 1933 Act) at the time of sale, a new certificate, which will constitute “good delivery”, will be made available to the purchaser upon provision to the Issuer by the Subscriber of a declaration together with such other evidence of the availability of an exemption as the Issuer or its transfer agent may reasonably require.

Certificates representing the Warrants, and all certificates issued in exchange therefor or in substitution thereof, will bear the following legend in substantially the following form:

“THE SECURITIES REPRESENTED HEREBY, AND THE SECURITIES INTO WHICH THE SECURITIES REPRESENTED HEREBY ARE EXERCISABLE, HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES.  THESE SECURITIES MAY NOT BE EXERCISED BY OR ON BEHALF OF A “U.S. PERSON” OR A PERSON IN THE UNITED STATES UNLESS THE WARRANT AND THE UNDERLYING SECURITIES HAVE BEEN REGISTERED UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE SECURITIES LEGISLATION OF ANY SUCH STATE OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE U.S. SECURITIES ACT.”;

	
11.

	
it understands and agrees that there may be material tax consequences to the Subscriber of an acquisition or disposition of the Securities. The Issuer gives no opinion and makes no representation with respect to the tax consequences to the Subscriber under United States, state, local or foreign tax law of the Subscriber’s acquisition or disposition of the Securities;

	
12.

	
it understands and agrees that the financial statements of the Issuer have been prepared in accordance with International Financial Reporting Standards, which differ from United States generally accepted accounting principles, and thus may not be comparable to financial statements of United States companies;

	
13.

	
it consents to the Issuer making a notation on its records or giving instructions to any transfer agent of the Issuer in order to implement the restrictions on transfer set forth and described in this Questionnaire and the Agreement;

	
14.

	
it is resident in the United States of America, its territories and possessions or any state of the United States or the District of Columbia (collectively the “United States”), is a “U.S. Person” as such term is defined in Regulation S or was in the United States at the time the Securities were offered or the Agreement was executed; and

	
15.

	
other than as set out in the Subscription Agreement, it understands that the Issuer has no obligation to register any of the Securities or to take action so as to permit sales pursuant to the 1933 Act (including Rule 144 thereunder).

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

The Subscriber undertakes to notify the Issuer immediately of any change in any representation, warranty or other information relating to the Subscriber set forth herein which takes place prior to the closing time of the purchase and sale of the Securities.

Dated _____________________________, 2018.

	 	 	
X

	 	 	
Signature of individual (if Subscriber is an individual)

	 	 	
X

	 	 	
Authorized signatory (if Subscriber is not an individual)

	 	 	 
	 	 	
Name of Subscriber (please print)

	 	 	 
	 	 	
Name of authorized signatory (please print)

 

EXHIBIT C

RISK ACKNOWLEDGEMENT FORM

	
Risk Acknowledgement under BCI 32-513

Registration exemption for trades

in connection with certain prospectus-exempt distributions

 

 

Name of Issuer:  THE ALKALINE WATER COMPANY INC.

 

Name of Seller:   _______________________________________

 

I acknowledge that

o the person selling me these securities is not registered with a securities regulatory authority and is prohibited from telling me that this investment is suitable for me;

o the person selling me these securities does not act for me;

o this is a risky investment and I could lose all my money;

o the person selling me these securities has not provided financial services to me other than in connection with a Prospectus-Exempt Distribution;

o the person selling me these securities does not hold or have access to my assets;

o I am investing entirely at my own risk.

 

Date

 

 

  

Signature of Subscriber

 

 

  

Print name of Subscriber

 

 

  

Name of salesperson acting on behalf of seller

 

Sign two copies of this document. Keep one copy for your records.

National Instrument 45-106 Prospectus and Registration Exemptions may require you to sign an additional risk acknowledgement form.  If you want advice about the merits of this investment and whether these securities are a suitable investment for you, contact a registered adviser or dealer.

 

EXHIBIT D

FORM 4C

CORPORATE PLACEE REGISTRATION FORM

This Form will remain on file with the Exchange and must be completed if required under section 4(b) of Part II of Form 4B.  The corporation, trust, portfolio manager or other entity (the “Placee”) need only file it on one time basis, and it will be referenced for all subsequent Private Placements in which it participates.  If any of the information provided in this Form changes, the Placee must notify the Exchange prior to participating in further placements with Exchange listed Issuers.  If as a result of the Private Placement, the Placee becomes an Insider of the Issuer, Insiders of the Placee are reminded that they must file a Personal Information Form (2A) or, if applicable, Declarations, with the Exchange.

	
1.

	
Placee Information:

	
(a)

	
Name: 

	
(b)

	
Complete Address: 

	
(c)

	
Jurisdiction of Incorporation or Creation: 

	
2.

	
(a) Is the Placee purchasing securities as a portfolio manager: (Yes/No)?

		(b)	
Is the Placee carrying on business as a portfolio manager outside of Canada:

 (Yes/No)? __________

	
3.

	
If the answer to 2(b) above was “Yes”, the undersigned certifies that:

	
(a)

	
it is purchasing securities of an Issuer on behalf of managed accounts for which it is making the investment decision to purchase the securities and has full discretion to purchase or sell securities for such accounts without requiring the client’s express consent to a transaction;

	
(b)

	
it carries on the business of managing the investment portfolios of clients through discretionary authority granted by those clients (a “portfolio manager” business) in ____________________ [jurisdiction], and it is permitted by law to carry on a portfolio manager business in that jurisdiction;

	
(c)

	
it was not created solely or primarily for the purpose of purchasing securities of the Issuer;

	
(d)

	
the total asset value of the investment portfolios it manages on behalf of clients is not less than $20,000,000; and

	
(e)

	
it has no reasonable grounds to believe, that any of the directors, senior officers and other insiders of the Issuer, and the persons that carry on investor relations activities for the Issuer has a beneficial interest in any of the managed accounts for which it is purchasing.

 

	
4.

	
If the answer to 2(a). above was “No”, please provide the names and addresses of Control Persons of the Placee:

	
Name *

	
City

	
Province or State

	
Country

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

* If the Control Person is not an individual, provide the name of the individual that makes the investment decisions on behalf of the Control Person.

5. Acknowledgement - Personal Information and Securities Laws

		(a)	
“Personal Information” means any information about an identifiable individual, and includes information contained in sections 1, 2 and 4, as applicable, of this Form.

The undersigned hereby acknowledges and agrees that it has obtained the express written consent of each individual to:

		(i)	
the disclosure of Personal Information by the undersigned to the Exchange (as defined in Appendix 6B) pursuant to this Form; and

		(ii)	
the collection, use and disclosure of Personal Information by the Exchange for the purposes described in Appendix 6B or as otherwise identified by the Exchange, from time to time.

		(b)	
The undersigned acknowledges that it is bound by the provisions of applicable Securities Law, including provisions concerning the filing of insider reports and reports of acquisitions.

Dated and certified (if applicable), acknowledged and agreed, at  on 

 (Name of Purchaser - please print)

 (Authorized Signature)

 (Official Capacity - please print)

  

(Please print name of individual whose signature

appears above)

THIS IS NOT A PUBLIC DOCUMENT

 

EXHIBIT E

ACKNOWLEDGEMENT – PERSONAL INFORMATION

	
9.

	
TSX Venture Exchange Inc. and its affiliates, authorized agents, subsidiaries and divisions, including the TSX Venture Exchange (collectively referred to as the “Exchange”) collect Personal Information in certain Forms that are submitted by the individual and/or by an Issuer or Applicant and use it for the following purposes:

		(a)	
to conduct background checks;

		(b)	
to verify the Personal Information that has been provided about each individual;

		(c)	
to consider the suitability of the individual to act as an officer, director, insider, promoter, investor relations provider or, as applicable, an employee or consultant, of the Issuer or Applicant;

		(d)	
to consider the eligibility of the Issuer or Applicant to list on the Exchange;

		(e)	
to provide disclosure to market participants as to the security holdings of directors, officers, other insiders and promoters of the Issuer, or its associates or affiliates;

		(f)	
to conduct enforcement proceedings; and

		(g)	
to perform other investigations as required by and to ensure compliance with all applicable rules, policies, rulings and regulations of the Exchange, securities legislation and other legal and regulatory requirements governing the conduct and protection of the public markets in Canada.

As part of this process, the Exchange also collects additional Personal Information from other sources, including but not limited to, securities regulatory authorities in Canada or elsewhere, investigative, law enforcement or self-regulatory organizations, regulations service providers and each of their subsidiaries, affiliates, regulators and authorized agents, to ensure that the purposes set out above can be accomplished.

The Personal Information the Exchange collects may also be disclosed:

		(a)	
to the agencies and organizations in the preceding paragraph, or as otherwise permitted or required by law, and they may use it in their own investigations for the purposes described above; and

		(b)	
on the Exchange’s website or through printed materials published by or pursuant to the directions of the Exchange.

The Exchange may from time to time use third parties to process information and/or provide other administrative services. In this regard, the Exchange may share the information with such third party service providers.

	
10.

	
The Commissions may indirectly collect the Personal Information under the authority granted to them by securities legislation. The Personal Information is being collected for the purposes of the administration and enforcement of the securities legislation of the jurisdiction of each such Commission.

For questions about the collection of Personal Information by the British Columbia Securities Commission, please contact the Administrative Assistant to the Director of Corporate Finance, 12th Floor, 701 West Georgia Street, Box 10142, Vancouver, BC V7Y 1L2, phone: (604) 899-6854.

 

EXHIBIT F

SELLING STOCKHOLDER QUESTIONNAIRE

THE ALKALINE WATER COMPANY INC.

14646 N. Kierland Blvd., Suite 255

 Scottsdale, AZ  85254

Ladies and Gentlemen:

The undersigned acknowledges that the undersigned is a beneficial owner of securities of The Alkaline Water Company Inc. (the “Company”).  The undersigned understands that the undersigned will be named as a selling stockholder in the prospectus that forms a part of the Company’s Registration Statement on Form S-1 (the “Registration Statement”).   The Registration Statement registers for resale under the Securities Act of 1933, as amended (the “Securities Act”), the securities the undersigned beneficially owns that are disclosed in response to Question 5(b) of this Selling Stockholder Questionnaire (the “Registrable Securities”).  The Company will use the information that the undersigned provides in this Selling Stockholder Questionnaire (this “Questionnaire”) to ensure the accuracy of the Registration Statement and the prospectus.

Certain legal consequences arise from being named as a selling securityholder in the Registration Statement and the related prospectus.  Accordingly, holders and beneficial owners of securities to be registered under the Registration Statement are advised to consult their own securities counsel regarding the consequences of being named or not being named as a selling securityholder in the Registration Statement and the related prospectus.

The undersigned acknowledges that by completing, dating, executing and returning this Questionnaire to the Company, the undersigned is giving written notice to the Company of its desire to have the securities disclosed in response to Question 5(b) of this Questionnaire included in the Registration Statement.

Please answer every question.

If the answer to any question is “none” or “not applicable,” please so state.

	
1.

	
Name. Type or print the full legal name of the selling securityholder.

__________________________________________________________________

	
2.

	
Contact Information. Provide the address, telephone number, fax number and email address of the selling securityholder.

	
Address:

	
_________________________

	
 

	
_________________________

	
Phone:

	
_________________________

	
Fax:

	
_________________________

	
Email:

	
_________________________

 

	
3.

	
Relationship with the Company. Describe the nature of any position, office or other material relationship the selling securityholder has had with the Company or any of its affiliates (e.g., directors, executive officers or 10% or more stockholders of the Company) during the past three years.

	
4.

	
Organizational Structure. Please indicate or (if applicable) describe how the selling securityholder is organized.

	
Is the selling securityholder a natural person?

(If so, please mark the box and skip to Question 5.)

	
___ Yes

	
 ___ No

	
Is the selling securityholder a reporting company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)?

(If so, please mark the box and skip to Question 5.)

	
___ Yes

	
 ___ No

	
Is the selling securityholder a majority-owned subsidiary of a reporting company under the Exchange Act?

(If so, please mark the box and skip to Question 5.)

	
___ Yes

	
 ___ No

	
Is the selling securityholder a registered investment company under the Investment Company Act of 1940?

(If so, please mark the box and skip to Question 5.)

	
___ Yes

	
 ___ No

If the answer to all of the foregoing questions is “no,” please describe: (i) the exact legal description of the selling securityholder (e.g., corporation, partnership, limited liability company, etc.); (ii) whether the legal entity so described is managed by another entity and the exact legal description of such entity (repeat this step until the last entity described is managed by a person or persons, each of whom is described in any one of (a) through (d) above); (iii) the names of each person or persons having voting and investment control over the Company’s securities that the entity owns (e.g., director(s), general partner(s), managing member(s), etc.).

(a) Legal Description of Entity:

(b) Name of Entit(ies)/(y) Managing Such Entity (if any):

 

(c) Name of Entit(ies)/(y) Managing such Entit(ies)/(y) (if any):

	
(d)

	
Name(s) of Natural Person(s) Having Voting or Investment Control Over the Shares Held by such Entit(ies)/(y):

	
5.

	
Ownership of the Company’s Securities. This question covers beneficial ownership of the Company’s securities.  Please consult Appendix A to this Questionnaire for information as to the meaning of “beneficial ownership.”  State (a) the number of shares of the Company’s common stock (including any shares issuable upon exercise of warrants or other convertible securities) that the selling securityholder beneficially owned as of the date this Questionnaire is signed and (b) the number of such shares of the Company’s common stock that the selling securityholder wishes to have registered for resale in the Registration Statement:

	
(a)

	
Number of shares of common stock, convertible debentures, warrants and other equity securities or convertible securities owned:

	
(b)

	
Number of shares of common stock and shares of common stock underlying convertible debentures, warrants and other equity securities or convertible securities owned to be registered for resale in the Registration Statement:

	
6.

	
Acquisition of Shares. If the selling securityholder did not acquire the securities to be sold directly from the Company please describe below the manner in which the securities were acquired including, but not limited to, the date, the name and address of the seller(s), the purchase price and pursuant to which documents (the “Acquisition Documents”) and please forward such documents as provided below.

 

	
7.

	
Broker-Dealer Status.

	
(a)

	
Is the selling securityholder a broker-dealer?

	
___ Yes

	
 ___ No

	
(b)

	
If the answer to Section 7(a) is “yes,” did the selling securityholder receive the Registrable Securities as compensation for investment banking services to the Company?

Note: If the answer to 7(b) is “no,” SEC guidance has indicated that the selling securityholder should be identified as an underwriter in the Registration Statement.

	
___ Yes

	
 ___ No

	
(c)

	
Is the selling securityholder an affiliate of a broker-dealer?

	
___ Yes

	
 ___ No

	
(d)

	
If the selling securityholder is an affiliate of a broker-dealer, does the selling securityholder certify that it purchased the Registrable Securities in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, the selling securityholder had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

Note: If the answer to 7(d) is “no,” SEC guidance has indicated that the selling securityholder should be identified as an underwriter in the Registration Statement.

	
___ Yes

	
 ___ No

	
8.

	
Plan of Distribution. The undersigned has reviewed the proposed “Plan of Distribution” as set forth in Appendix B to this Questionnaire and agrees that the statements contained therein reflect its intended method(s) of distribution or, to the extent these statements are inaccurate or incomplete, the undersigned has communicated in writing to one of the parties listed above its signature any changes to the proposed “Plan of Distribution” that are required to make these statements accurate and complete. The undersigned acknowledges and agrees that the Company may make changes to the “Plan of Distribution” to address any comments from the Securities and Exchange Commission or may make any other changes necessary or advisable upon consultation with its counsel.

 (Please insert an “X” to the left if you have made any changes)

	
9.

	
Legal Proceedings with the Company. Is the Company a party to any pending legal proceeding in which the selling securityholder is named as an adverse party?

	
___ Yes

	
 ___ No

	
 

State any exceptions here:

 

	
10.

	
Reliance on Responses. The undersigned acknowledges and agrees that the Company and its legal counsel shall be entitled to rely on its responses in this Questionnaire in all matters pertaining to the Registration Statement and the sale of any Registrable Securities pursuant to the Registration Statement.

The undersigned hereby acknowledges and is advised of the SEC’s Compliance and Disclosure Interpretation 239.10 regarding short selling:

“An Issuer filed a Form S-3 registration statement for a secondary offering of common stock which is not yet effective.  One of the selling shareholders wanted to do a short sale of common stock “against the box” and cover the short sale with registered shares after the effective date. The issuer was advised that the short sale could not be made before the registration statement become effective, because the shares underlying the short sale are deemed to be sold at the time such sale is made.  There would, therefore, be a violation of Section 5 if the shares were effectively sold prior to the effective date.”

By returning this Questionnaire, the undersigned will be deemed to be aware of the foregoing interpretation.

If the Company is required to file a new or additional registration statement to register Registrable Securities beneficially owned by the selling securityholder, the undersigned hereby agrees to complete and return to the Company, upon the request of the Company, a new Questionnaire (in a form substantially similar to this Questionnaire).

If the selling securityholder transfers all or any portion of its Registrable Securities after the date on which the information in this Questionnaire is provided to the Company, the undersigned hereby agrees to notify the transferee(s) at the time of transfer of its rights and obligations hereunder.

By signing below, the undersigned represents that the information provided herein is accurate and complete.  The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof at any time while the Registration Statement remains effective.

By signing below, the undersigned consents to the disclosure of the information contained herein and the inclusion of such information in the Registration Statement and the related prospectus and any amendments or supplements thereto.  The undersigned understands that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration Statement and the related prospectus.

[SIGNATURE PAGE FOLLOWS]

 

IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized agent.

	
Dated: ___________________

	
Beneficial Owner: ___________________________

By:___________________________

[Name:]

[Title:]

	 	 

AS SOON AS POSSIBLE, PLEASE EMAIL OR FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE TO:

	
The Alkaline Water Company Inc.

 

Attn: Virgil Hlus

Fax: 1-604-687-6314

E-mail: vhlus@cwilson.com

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