CBL

SEC source: 0000950142-22-001403 · es220244162_4-cbl1.xml · nonDerivative · entry 1

OAKTREE CAPITAL MANAGEMENT LP · CIK 0000949509 · 10% owner

Oaktree Value Opportunities Fund Holdings, L.P. · CIK 0001474241 · 10% owner

Oaktree Value Opportunities Fund GP, L.P. · CIK 0001474239 · 10% owner

Oaktree Value Opportunities Fund GP Ltd. · CIK 0001474240 · 10% owner

OCM Xb CBL-E Holdings, LLC · CIK 0001892307 · 10% owner

Oaktree Fund GP, LLC · CIK 0001499005 · 10% owner

OAKTREE FUND GP I, L.P. · CIK 0001402746 · 10% owner

Oaktree Capital I, L.P. · CIK 0001403530 · 10% owner

OCM HOLDINGS I, LLC · CIK 0001407178 · 10% owner

OAKTREE HOLDINGS, LLC · CIK 0001407181 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · balance_after: Consists of shares of common stock held by Wells Street Global Partners LP ("WSGP").

F4 · ownership.direct: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F5 · ownership.direct: (con't from FN4) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) WSGP, (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN6)

F6 · ownership.direct: (con't from FN5) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0001127602-22-005933 · form4.xml · nonDerivative · entry 1

CONTIS DAVID J · CIK 0001045957 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 66,834

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001104659-22-011427 · tm225343d1_4seq1.xml · derivative · entry 2

CANYON CAPITAL ADVISORS LLC · CIK 0001074034 · Member of 10% owner group

Julis Mitchell R · CIK 0001766581 · Member of 10% owner group

Friedman Joshua S · CIK 0001766767 · Member of 10% owner group

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 0

Underlying: Common Stock · 3,999,882 shares

Expires 2028-11-15

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the Exchangeable Notes were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 722,130 shares of Common Stock as accrued interest and the make-whole payment.

F5 · derivative.underlying_shares: Consists of (i) 3,277,752 shares of Common Stock received upon exchange of the Exchangeable Notes plus (ii) 722,130 shares of Common Stock received as accrued interest and the make-whole payment in connection with the exchange of the Exchangeable Notes pursuant to the Indenture.

F1 · ownership.nature: This Form 4 is being filed jointly by Canyon Capital Advisors LLC, a Delaware limited liability company ("CCA"), Mitchell R. Julis, a citizen of the United States of America, and Joshua S. Friedman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities"). The business address of each of the Reporting Persons is 2728 North Harwood Street, 2nd Floor, Dallas, Texas 75201.

F2 · ownership.nature: CCA, as the investment advisor to certain managed funds and accounts that directly hold the Subject Securities, including Canyon-ASP Fund, L.P., Canyon Balanced Master Fund, Ltd., Canyon Distressed Opportunity Master Fund III, L.P., Canyon ESG Credit Master Fund, L.P., Canyon Distressed TX (A) LLC, Canyon Distressed TX (B) LLC, The Canyon Value Realization Master Fund, L.P., Canyon-EDOF (Master) L.P., Canyon-GRF Master Fund II, L.P., Canyon NZ-DOF Investing, L.P., EP Canyon Ltd. and Canyon Value Realization Fund, L.P. (collectively, the "Accounts"), may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934.

F3 · ownership.nature: Mitchell R. Julis and Joshua S. Friedman, as persons who manage CCA and control the entities which own 100% of CCA, may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims beneficial ownership of the Subject Securities except to the extent of any pecuniary interest therein.

SEC source: 0001104659-22-011427 · tm225343d1_4seq1.xml · nonDerivative · entry 1

CANYON CAPITAL ADVISORS LLC · CIK 0001074034 · Member of 10% owner group

Julis Mitchell R · CIK 0001766581 · Member of 10% owner group

Friedman Joshua S · CIK 0001766767 · Member of 10% owner group

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 8,396,293

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the Exchangeable Notes were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 722,130 shares of Common Stock as accrued interest and the make-whole payment.

F1 · ownership.nature: This Form 4 is being filed jointly by Canyon Capital Advisors LLC, a Delaware limited liability company ("CCA"), Mitchell R. Julis, a citizen of the United States of America, and Joshua S. Friedman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities"). The business address of each of the Reporting Persons is 2728 North Harwood Street, 2nd Floor, Dallas, Texas 75201.

F2 · ownership.nature: CCA, as the investment advisor to certain managed funds and accounts that directly hold the Subject Securities, including Canyon-ASP Fund, L.P., Canyon Balanced Master Fund, Ltd., Canyon Distressed Opportunity Master Fund III, L.P., Canyon ESG Credit Master Fund, L.P., Canyon Distressed TX (A) LLC, Canyon Distressed TX (B) LLC, The Canyon Value Realization Master Fund, L.P., Canyon-EDOF (Master) L.P., Canyon-GRF Master Fund II, L.P., Canyon NZ-DOF Investing, L.P., EP Canyon Ltd. and Canyon Value Realization Fund, L.P. (collectively, the "Accounts"), may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934.

F3 · ownership.nature: Mitchell R. Julis and Joshua S. Friedman, as persons who manage CCA and control the entities which own 100% of CCA, may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims beneficial ownership of the Subject Securities except to the extent of any pecuniary interest therein.

SEC source: 0000950142-22-001320 · es220240525_4-cbl2.xml · derivative · entry 4

Oaktree Capital Management GP, LLC · CIK 0001831013 · 10% owner

Atlas OCM Holdings, LLC · CIK 0001790787 · 10% owner

Oaktree Capital Group, LLC · CIK 0001403528 · 10% owner

Oaktree Capital Group Holdings GP, LLC · CIK 0001403525 · 10% owner

WELLS STREET GLOBAL PARTNERS LP · CIK 0001460989 · 10% owner

Brookfield Public Securities Group LLC · CIK 0001273887 · 10% owner

Brookfield Public Securities Group Holdings LLC · CIK 0001909269 · 10% owner

Brookfield US Inc. · CIK 0001768973 · 10% owner

Brookfield US Holdings Inc. · CIK 0001504722 · 10% owner

Brookfield Holdings Canada Inc. · CIK 0001540230 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 0

Underlying: Common Stock · 243,420 shares

Expires 2028-11-15

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the 7.0% Exchangeable Senior Secured Notes due 2028 ("Exchangeable Notes") were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 434,269 shares of Common Stock as accrued interest and the make-whole payment.

F6 · derivative.underlying_shares: Consists of shares of Common Stock received upon exchange of the Exchangeable Notes plus shares of Common Stock received as accrued interest and the make-whole payment in connection with the exchange of the Exchangeable Notes pursuant to the Indenture.

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001320 · es220240525_4-cbl2.xml · derivative · entry 3

Oaktree Capital Management GP, LLC · CIK 0001831013 · 10% owner

Atlas OCM Holdings, LLC · CIK 0001790787 · 10% owner

Oaktree Capital Group, LLC · CIK 0001403528 · 10% owner

Oaktree Capital Group Holdings GP, LLC · CIK 0001403525 · 10% owner

WELLS STREET GLOBAL PARTNERS LP · CIK 0001460989 · 10% owner

Brookfield Public Securities Group LLC · CIK 0001273887 · 10% owner

Brookfield Public Securities Group Holdings LLC · CIK 0001909269 · 10% owner

Brookfield US Inc. · CIK 0001768973 · 10% owner

Brookfield US Holdings Inc. · CIK 0001504722 · 10% owner

Brookfield Holdings Canada Inc. · CIK 0001540230 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 0

Underlying: Common Stock · 2,161,983 shares

Expires 2028-11-15

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the 7.0% Exchangeable Senior Secured Notes due 2028 ("Exchangeable Notes") were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 434,269 shares of Common Stock as accrued interest and the make-whole payment.

F6 · derivative.underlying_shares: Consists of shares of Common Stock received upon exchange of the Exchangeable Notes plus shares of Common Stock received as accrued interest and the make-whole payment in connection with the exchange of the Exchangeable Notes pursuant to the Indenture.

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001320 · es220240525_4-cbl2.xml · nonDerivative · entry 2

Oaktree Capital Management GP, LLC · CIK 0001831013 · 10% owner

Atlas OCM Holdings, LLC · CIK 0001790787 · 10% owner

Oaktree Capital Group, LLC · CIK 0001403528 · 10% owner

Oaktree Capital Group Holdings GP, LLC · CIK 0001403525 · 10% owner

WELLS STREET GLOBAL PARTNERS LP · CIK 0001460989 · 10% owner

Brookfield Public Securities Group LLC · CIK 0001273887 · 10% owner

Brookfield Public Securities Group Holdings LLC · CIK 0001909269 · 10% owner

Brookfield US Inc. · CIK 0001768973 · 10% owner

Brookfield US Holdings Inc. · CIK 0001504722 · 10% owner

Brookfield Holdings Canada Inc. · CIK 0001540230 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 585,735

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · balance_after: Consists of shares of common stock held by Oaktree Value Opportunities Fund Holdings, L.P. ("VOF Holdings").

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001320 · es220240525_4-cbl2.xml · nonDerivative · entry 1

Oaktree Capital Management GP, LLC · CIK 0001831013 · 10% owner

Atlas OCM Holdings, LLC · CIK 0001790787 · 10% owner

Oaktree Capital Group, LLC · CIK 0001403528 · 10% owner

Oaktree Capital Group Holdings GP, LLC · CIK 0001403525 · 10% owner

WELLS STREET GLOBAL PARTNERS LP · CIK 0001460989 · 10% owner

Brookfield Public Securities Group LLC · CIK 0001273887 · 10% owner

Brookfield Public Securities Group Holdings LLC · CIK 0001909269 · 10% owner

Brookfield US Inc. · CIK 0001768973 · 10% owner

Brookfield US Holdings Inc. · CIK 0001504722 · 10% owner

Brookfield Holdings Canada Inc. · CIK 0001540230 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 3,983,967

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · balance_after: Consists of shares of common stock held by OCM Xb CBL-E Holdings, LLC ("Xb CBL-E").

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001321 · es220240526_4-cbl3.xml · derivative · entry 4

BROOKFIELD ASSET MANAGEMENT INC. · CIK 0001001085 · 10% owner

BAM Partners Trust · CIK 0001861643 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 0

Underlying: Common Stock · 243,420 shares

Expires 2028-11-15

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the 7.0% Exchangeable Senior Secured Notes due 2028 ("Exchangeable Notes") were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 434,269 shares of Common Stock as accrued interest and the make-whole payment.

F6 · derivative.underlying_shares: Consists of shares of Common Stock received upon exchange of the Exchangeable Notes plus shares of Common Stock received as accrued interest and the make-whole payment in connection with the exchange of the Exchangeable Notes pursuant to the Indenture.

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001321 · es220240526_4-cbl3.xml · derivative · entry 3

BROOKFIELD ASSET MANAGEMENT INC. · CIK 0001001085 · 10% owner

BAM Partners Trust · CIK 0001861643 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 0

Underlying: Common Stock · 2,161,983 shares

Expires 2028-11-15

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the 7.0% Exchangeable Senior Secured Notes due 2028 ("Exchangeable Notes") were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 434,269 shares of Common Stock as accrued interest and the make-whole payment.

F6 · derivative.underlying_shares: Consists of shares of Common Stock received upon exchange of the Exchangeable Notes plus shares of Common Stock received as accrued interest and the make-whole payment in connection with the exchange of the Exchangeable Notes pursuant to the Indenture.

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001321 · es220240526_4-cbl3.xml · nonDerivative · entry 2

BROOKFIELD ASSET MANAGEMENT INC. · CIK 0001001085 · 10% owner

BAM Partners Trust · CIK 0001861643 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 585,735

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · balance_after: Consists of shares of common stock held by Oaktree Value Opportunities Fund Holdings, L.P. ("VOF Holdings").

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001321 · es220240526_4-cbl3.xml · nonDerivative · entry 1

BROOKFIELD ASSET MANAGEMENT INC. · CIK 0001001085 · 10% owner

BAM Partners Trust · CIK 0001861643 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 3,983,967

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · balance_after: Consists of shares of common stock held by OCM Xb CBL-E Holdings, LLC ("Xb CBL-E").

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001319 · es220240524_4-cbl1.xml · derivative · entry 4

OAKTREE CAPITAL MANAGEMENT LP · CIK 0000949509 · 10% owner

Oaktree Value Opportunities Fund Holdings, L.P. · CIK 0001474241 · 10% owner

Oaktree Value Opportunities Fund GP, L.P. · CIK 0001474239 · 10% owner

Oaktree Value Opportunities Fund GP Ltd. · CIK 0001474240 · 10% owner

OCM Xb CBL-E Holdings, LLC · CIK 0001892307 · 10% owner

Oaktree Fund GP, LLC · CIK 0001499005 · 10% owner

OAKTREE FUND GP I, L.P. · CIK 0001402746 · 10% owner

Oaktree Capital I, L.P. · CIK 0001403530 · 10% owner

OCM HOLDINGS I, LLC · CIK 0001407178 · 10% owner

OAKTREE HOLDINGS, LLC · CIK 0001407181 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 0

Underlying: Common Stock · 243,420 shares

Expires 2028-11-15

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the 7.0% Exchangeable Senior Secured Notes due 2028 ("Exchangeable Notes") were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 434,269 shares of Common Stock as accrued interest and the make-whole payment.

F6 · derivative.underlying_shares: Consists of shares of Common Stock received upon exchange of the Exchangeable Notes plus shares of Common Stock received as accrued interest and the make-whole payment in connection with the exchange of the Exchangeable Notes pursuant to the Indenture.

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001319 · es220240524_4-cbl1.xml · derivative · entry 3

OAKTREE CAPITAL MANAGEMENT LP · CIK 0000949509 · 10% owner

Oaktree Value Opportunities Fund Holdings, L.P. · CIK 0001474241 · 10% owner

Oaktree Value Opportunities Fund GP, L.P. · CIK 0001474239 · 10% owner

Oaktree Value Opportunities Fund GP Ltd. · CIK 0001474240 · 10% owner

OCM Xb CBL-E Holdings, LLC · CIK 0001892307 · 10% owner

Oaktree Fund GP, LLC · CIK 0001499005 · 10% owner

OAKTREE FUND GP I, L.P. · CIK 0001402746 · 10% owner

Oaktree Capital I, L.P. · CIK 0001403530 · 10% owner

OCM HOLDINGS I, LLC · CIK 0001407178 · 10% owner

OAKTREE HOLDINGS, LLC · CIK 0001407181 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 0

Underlying: Common Stock · 2,161,983 shares

Expires 2028-11-15

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · price: Pursuant to the terms of that certain exchangeable notes indenture, dated November 1, 2021 (the "Indenture"), the 7.0% Exchangeable Senior Secured Notes due 2028 ("Exchangeable Notes") were exchanged into Common Stock of CBL & Associates Properties, Inc. (the "Company") at the Company's election, at the initial exchange rate, subject to adjustment in the manner set forth in the Indenture, of 60 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes, and the Reporting Persons received 434,269 shares of Common Stock as accrued interest and the make-whole payment.

F6 · derivative.underlying_shares: Consists of shares of Common Stock received upon exchange of the Exchangeable Notes plus shares of Common Stock received as accrued interest and the make-whole payment in connection with the exchange of the Exchangeable Notes pursuant to the Indenture.

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001319 · es220240524_4-cbl1.xml · nonDerivative · entry 2

OAKTREE CAPITAL MANAGEMENT LP · CIK 0000949509 · 10% owner

Oaktree Value Opportunities Fund Holdings, L.P. · CIK 0001474241 · 10% owner

Oaktree Value Opportunities Fund GP, L.P. · CIK 0001474239 · 10% owner

Oaktree Value Opportunities Fund GP Ltd. · CIK 0001474240 · 10% owner

OCM Xb CBL-E Holdings, LLC · CIK 0001892307 · 10% owner

Oaktree Fund GP, LLC · CIK 0001499005 · 10% owner

OAKTREE FUND GP I, L.P. · CIK 0001402746 · 10% owner

Oaktree Capital I, L.P. · CIK 0001403530 · 10% owner

OCM HOLDINGS I, LLC · CIK 0001407178 · 10% owner

OAKTREE HOLDINGS, LLC · CIK 0001407181 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 585,735

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · balance_after: Consists of shares of common stock held by Oaktree Value Opportunities Fund Holdings, L.P. ("VOF Holdings").

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0000950142-22-001319 · es220240524_4-cbl1.xml · nonDerivative · entry 1

OAKTREE CAPITAL MANAGEMENT LP · CIK 0000949509 · 10% owner

Oaktree Value Opportunities Fund Holdings, L.P. · CIK 0001474241 · 10% owner

Oaktree Value Opportunities Fund GP, L.P. · CIK 0001474239 · 10% owner

Oaktree Value Opportunities Fund GP Ltd. · CIK 0001474240 · 10% owner

OCM Xb CBL-E Holdings, LLC · CIK 0001892307 · 10% owner

Oaktree Fund GP, LLC · CIK 0001499005 · 10% owner

OAKTREE FUND GP I, L.P. · CIK 0001402746 · 10% owner

Oaktree Capital I, L.P. · CIK 0001403530 · 10% owner

OCM HOLDINGS I, LLC · CIK 0001407178 · 10% owner

OAKTREE HOLDINGS, LLC · CIK 0001407181 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 3,983,967

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · balance_after: Consists of shares of common stock held by OCM Xb CBL-E Holdings, LLC ("Xb CBL-E").

F3 · ownership.nature: This Form 4 is being filed jointly by (each, a "Reporting Person" and, collectively, the "Reporting Persons") (i) VOF Holdings, (ii) Oaktree Value Opportunities Fund GP, L.P. ("VOF GP"), in its capacity as the general partner of VOF Holdings, (iii) Oaktree Value Opportunities Fund GP Ltd. ("VOF GP Ltd."), in its capacity as the general partner of VOF GP, (iv) Xb CBL-E, (v) Oaktree Fund GP, LLC ("Fund GP"), in its capacity as the general partner of Xb CBL-E, (vi) Oaktree Fund GP I, L.P. ("Fund GP I"), in its capacity as the managing member of Fund GP, (vii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of Fund GP I, (viii) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I, (ix) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I, (x) Oaktree Capital Management, L.P. ("Management"), in its capacity (cont'd in FN4)

F4 · ownership.nature: (con't from FN3) as the sole director of VOF GP Ltd, (xi) Oaktree Capital Management GP, LLC ("Management GP"), in its capacity as the general partner of Management, (xii) Atlas OCM Holdings LLC ("Atlas"), in its capacity as the manager of Management GP, (xiii) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings, (xiv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), as indirect owner of the class B units of each of OCG and Atlas, (xv) Wells Street Global Partners LP ("WSGP"), (xvi) Brookfield Public Securities Group LLC ("Securities Group"), in its capacity as the sole member of the general partner of WSGP, (xvii) Brookfield Public Securities Group Holdings LLC ("Securities Group Holdings"), in its capacity as the sole member of Securities Group, (xviii) Brookfield US Inc. ("Brookfield US"), in its capacity as the managing member of Securities Group Holdings, (xix) Brookfield US Holdings Inc. ("Brookfield US Holdings"), in (con't in FN5)

F5 · ownership.nature: (con't from FN4) its capacity as the sole shareholder of Brookfield US, (xx) Brookfield Holdings Canada Inc. ("Brookfield Holdings Canada"), in its capacity as the sole shareholder of Brookfield US Holdings, (xxi) Brookfield Asset Management Inc. ("BAM"), in its capacity as the indirect owner of the class A units of each of OCG and Atlas and sole shareholder of Brookfield Holdings Canada and (xxii) BAM Partners Trust ("BAM Partnership"), in its capacity as the sole owner of Class B Limited Voting Shares of BAM.

SEC source: 0001127602-22-012145 · form4.xml · nonDerivative · entry 1

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,167

F1 · ownership.direct: This total includes 69 shares held in an account owned jointly by the Reporting Person and his spouse. Total shown on this report also reflects a 5 share reduction to correct for an overstatement of the number of shares received on the Effective Date of the Company's Chapter 11 Plan, as shown on the Reporting Person's Form 4 filed November 3, 2021, due to a slight rounding-related discrepancy between the Company's initial calculations and the number of shares actually received by the Reporting Person.

SEC source: 0001127602-21-031170 · form4.xml · nonDerivative · entry 1

MITCHELL FARZANA K · CIK 0001220926 · Exec VP - CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 60,853

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031182 · form4.xml · nonDerivative · entry 1

Reinsmidt Kathryn A. · CIK 0001698266 · Exec VP-Chief Invest. Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,244

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031168 · form4.xml · nonDerivative · entry 1

Grody Howard B. · CIK 0001438277 · Exec VP-Leasing

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,202

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

F2 · ownership.direct: This total includes (i) 24 shares held in an account owned jointly by the Reporting Person and his spouse and (ii) 32 shares held by the Reporting Person as a participant in the Company's Employee Stock Purchase Plan.

SEC source: 0001127602-21-031155 · form4.xml · nonDerivative · entry 1

BOWEN MARJORIE L. · CIK 0001475648 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,334

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031161 · form4.xml · nonDerivative · entry 1

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,183

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

F2 · ownership.direct: This total includes 32 shares held in an account owned jointly by the Reporting Person and his spouse. This total also includes a separate joint account owned jointly by the Reporting Person and his spouse containing 50 shares.

SEC source: 0001127602-21-031151 · form4.xml · nonDerivative · entry 1

Gifford Robert G · CIK 0001688544 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,334

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031147 · form4.xml · nonDerivative · entry 1

Fields David Michael · CIK 0001893997 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,334

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031145 · form4.xml · nonDerivative · entry 1

CONTIS DAVID J · CIK 0001045957 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,834

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001104659-21-151144 · tm2135806-1_4seq1.xml · nonDerivative · entry 1

Heller Jonathan M · CIK 0001886624 · Director · Member of 10% owner group

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,334

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031255 · form4.xml · nonDerivative · entry 1

LEBOVITZ CHARLES B · CIK 0000936808 · Director · Chairman of the Board · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,529

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031218 · form4.xml · nonDerivative · entry 1

LEBOVITZ STEPHEN D · CIK 0001220925 · Director · CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 309,291

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031210 · form4.xml · nonDerivative · entry 1

LEBOVITZ MICHAEL I · CIK 0001220924 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 53,768

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031199 · form4.xml · nonDerivative · entry 1

LEBOVITZ ALAN L. · CIK 0001457217 · Executive VP - Management

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,999

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

SEC source: 0001127602-21-031197 · form4.xml · nonDerivative · entry 1

Curry Jeffery V. · CIK 0001542140 · Chief Legal Officer & Sec.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,510

F1 · kind: Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

F2 · ownership.direct: Of the total reported shares, 1,327 shares are held in an account held jointly by the Reporting Person and his spouse, and 54 shares of the total reported shares are held in the Reporting Person's IRA account.

SEC source: 0001127602-21-030640 · form4.xml · nonDerivative · entry 2

Curry Jeffery V. · CIK 0001542140 · Chief Legal Officer & Sec.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Spouse

Disclosed balance after: 0

F3 · ownership.direct: The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001127602-21-030640 · form4.xml · nonDerivative · entry 1

Curry Jeffery V. · CIK 0001542140 · Chief Legal Officer & Sec.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,510

F1 · ownership.direct: The Form 4 dated November 1, 2021, contained an error in the total number of shares. The balance of the Reporting Person's account was 1,540 shares prior to the sale of 30 shares on December 8, 2021, instead of 1,543 shares as reported on the Form 4 dated November 1, 2021.

F2 · ownership.direct: A portion of the total reported shares are held in accounts held jointly by the Reporting Person and his spouse, and this sale of 30 shares was from a jointly owned account, leaving a total of 1,327 shares held in joint ownership. Additionally, 54 of the total reported shares are held in the Reporting Person's IRA account.

SEC source: 0000899243-21-045751 · doc4.xml · nonDerivative · entry 3

CONTIS DAVID J · CIK 0001045957 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,500

SEC source: 0000899243-21-045751 · doc4.xml · nonDerivative · entry 2

CONTIS DAVID J · CIK 0001045957 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,500

SEC source: 0000899243-21-045751 · doc4.xml · nonDerivative · entry 1

CONTIS DAVID J · CIK 0001045957 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 300

SEC source: 0001127602-21-028349 · form4.xml · nonDerivative · entry 4

CBL & ASSOCIATES INC · CIK 0001280129 · No longer a 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Partnerships

Disclosed balance after: 1,139

F4 · kind: Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Common Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.

F5 · balance_after: Following these transactions, the Reporting Person is no longer a 10% beneficial owner subject to Section 16.

F3 · ownership.direct: The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

SEC source: 0001127602-21-028349 · form4.xml · nonDerivative · entry 3

CBL & ASSOCIATES INC · CIK 0001280129 · No longer a 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 84,708

F4 · kind: Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Common Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.

F5 · balance_after: Following these transactions, the Reporting Person is no longer a 10% beneficial owner subject to Section 16.

SEC source: 0001127602-21-028349 · form4.xml · nonDerivative · entry 2

CBL & ASSOCIATES INC · CIK 0001280129 · No longer a 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Partnerships

Disclosed balance after: 0

F1 · shares: Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.

F2 · shares: On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect

F3 · ownership.direct: The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

SEC source: 0001127602-21-028349 · form4.xml · nonDerivative · entry 1

CBL & ASSOCIATES INC · CIK 0001280129 · No longer a 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.

F2 · shares: On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect

SEC source: 0001127602-21-028344 · form4.xml · nonDerivative · entry 6

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 183

F7 · kind: Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Preferred Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Preferred Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.

SEC source: 0001127602-21-028344 · form4.xml · nonDerivative · entry 5

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 180

F7 · kind: Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Preferred Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Preferred Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.

F4 · ownership.direct: These shares are held in an account owned jointly by the Reporting Person and his spouse.

SEC source: 0001127602-21-028344 · form4.xml · nonDerivative · entry 4

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 130

F5 · kind: Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Common Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.

F6 · ownership.direct: This total includes 32 shares held in an account owned jointly by the Reporting Person and his spouse.

SEC source: 0001127602-21-028344 · form4.xml · nonDerivative · entry 3

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.

F2 · shares: On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect.

SEC source: 0001127602-21-028344 · form4.xml · nonDerivative · entry 2

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.

F2 · shares: On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect.

F4 · ownership.direct: These shares are held in an account owned jointly by the Reporting Person and his spouse.

SEC source: 0001127602-21-028344 · form4.xml · nonDerivative · entry 1

Cobb Andrew Franklin · CIK 0001885097 · Exec VP-Accounting

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.

F2 · shares: On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect.

F3 · ownership.direct: This total includes 5,813 shares held in an account owned jointly by the Reporting Person and his spouse.

SEC source: 0001127602-21-028333 · form4.xml · nonDerivative · entry 2

Grody Howard B. · CIK 0001438277 · Exec VP-Leasing

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 202

F4 · kind: Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Common Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.

F5 · ownership.direct: This total includes (i) 24 shares held in an account owned jointly by the Reporting Person and his spouse and (ii) 32 shares held by the Reporting Person as a participant in the Company's Employee Stock Purchase Plan.

SEC source: 0001127602-21-028333 · form4.xml · nonDerivative · entry 1

Grody Howard B. · CIK 0001438277 · Exec VP-Leasing

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.

F2 · shares: On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect.

F3 · ownership.direct: This total includes (i) 4,346 shares held in an account owned jointly by the Reporting Person and his spouse and (ii) 5,803.41 shares held by the Reporting Person as a participant in the Company's Employee Stock Purchase Plan.

SEC source: 0001127602-21-028311 · form4.xml · nonDerivative · entry 2

MITCHELL FARZANA K · CIK 0001220926 · Exec VP - CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 853

F3 · kind: Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Common Stock received, in the aggregate, their pro rata share of common stock ("New Common Stock") representing 5.5% of the shares of the reorganized Company (subject to dilution for a new management incentive plan). The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.

SEC source: 0001127602-21-028311 · form4.xml · nonDerivative · entry 1

MITCHELL FARZANA K · CIK 0001220926 · Exec VP - CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: Beginning on November 1, 2020, CBL & Associates Properties, Inc. and certain affiliated companies (collectively, the "Debtors") each filed petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under chapter 11 of the United States Bankruptcy Code. On August 11, 2021, the Bankruptcy Court entered an order confirming the Debtors' Third Amended Joint Chapter 11 Plan of Reorganization (the "Plan") and the Third Amended Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (with Technical Modifications) (the "Technical Plan Supplement"), dated as of August 9, 2021. On November 1, 2021 (the "Effective Date"), the conditions to effectiveness of the Plan were satisfied and the Debtors emerged from the Chapter 11 Cases.

F2 · shares: On the Effective Date, by operation of the Plan, all agreements, instruments, and other documents evidencing, relating to or connected with any equity interests of the Company, including (1) the REIT's old common stock, par value $0.01 per share (the "Old Common Stock"), and the REIT's old preferred stock and related depositary shares (the "Old Preferred Stock") and (2) the Operating Partnership's old limited partnership common interests (the "Old LP Common Interests") and the old limited partnership preferred interests (the "Old LP Preferred Interests") related to the REIT's Old Preferred Stock, in each case issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no force or effect.