EARNINGS PER UNIT

3 Months Ended

Mar. 31, 2025

The computation of net income per Class A unit is set forth below:


	Three months ended March 31,
		2025		2024
		(in thousands, except per unit amounts)
Net income per Class A unit (basic and diluted):
Net income attributable to BOH Class A unitholders		$	(11,828)	$	76,786
Weighted average number of Class A units outstanding (basic and diluted)		116,373		109,199
Basic and diluted net income (net of tax) per Class A unit		$	(0.10)	$	0.70

OCGH units are not exchangeable into Class A units. As the restrictions set forth in the then-current exchange agreement were in place for each applicable reporting period, OCGH units were not included in the computation of diluted earnings per unit for the three months ended March 31, 2025 and 2024.

As a result of the 2024 Restructuring, earnings attributable to Oaktree Capital I are reflected in

the Company's investment income for periods beginning in the third quarter of 2024.