Barclays Global Financial Services Conference

Daniel S. Och Chairman and Chief Executive Officer

September 10, 2013

Forward Looking Statements

1

This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that reflect the Company’s current views with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as “outlook,” “believe,” “expect,” “potential,” “continue,” “may,” “will,” “should,” “could,” “seek,” “approximately,” “predict,” “intend,” “plan,” “estimate,” “anticipate,” “opportunity,” “comfortable,” “assume,” “remain,” “maintain,” “sustain,” “achieve,” “see,” “think,” “position” or the negative version of these words or other comparable words. Any forward-looking statements contained in this presentation are based upon historical information and on the Company’s current plans, estimates and expectations. The inclusion of this or any other forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates or expectations contemplated by the Company will be achieved. The Company cautions that forward-looking statements are subject to numerous assumptions, estimates, risks and uncertainties, including but not limited to the following: global economic, business, market and geopolitical conditions, including Euro-zone sovereign debt issues; U.S. and foreign regulatory developments relating to, among other things, financial institutions and markets, government oversight, fiscal and tax policy; the conditions impacting the alternative asset management industry; the Company’s ability to successfully compete for fund investors, assets, professional talent and investment opportunities; the Company’s ability to retain its executive managing directors, managing directors and other investment professionals; the Company’s successful formulation and execution of its business and growth strategies; the Company’s ability to appropriately manage conflicts of interest and tax and other regulatory factors relevant to the Company’s business; and assumptions relating to the Company’s operations, investment performance, financial results, financial condition, business prospects, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if the Company’s assumptions or estimates prove to be incorrect, the Company’s actual results may vary materially from those indicated in these statements. These factors are not and should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in the Company’s filings with the Securities and Exchange Commission (“SEC”), including but not limited to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 filed with the SEC on February 28, 2013. There may be additional risks, uncertainties and factors that the Company does not currently view as material or that are not known. The Company does not undertake to update any forward-looking statement, because of new information, future developments or otherwise. This presentation does not constitute an offer of any Och-Ziff fund.

2

We are a leading, global alternative asset manager

$37 billion in assets under management1

Leading manager for multi-strategy, absolute return hedge funds;

expanding platforms in credit, real estate and long/short equity

Competitive differentiation through opportunistic approach to capital allocation, global presence and deep investment expertise

Seek to generate consistent, positive, absolute returns across market

cycles, which drives stability and growth in asset base, and in turn earnings growth

Historically high dividend payout ratio driven by embedded operating

leverage and scalability of our business

1 Estimate as of September 1, 2013.

32%

15%

13%

12%

12%

9%

7%

3

We have a diverse mix of institutional investors, which drives the stability of our asset base

Pensions

Fund-of-Funds

Private Banks

Foundations and Endowments

Corporate, Institutional and Other

Related Parties1

Family Offices and

Individuals

As of July 1, 2013

Approximately 1,200 relationships globally Solutions-based approach a key

competitive differentiator Pension funds largest source of new

capital as shift to direct investing continues Growing assets under management

through private bank platforms from high net worth retail investors Newly established Dubai office to

expand investor coverage in the region

1 Represents investments by the Company, its executive managing directors, employees and certain other related parties.

4

We invest based on deep fundamental analysis and with a value orientation

Invest across strategies, asset classes, capital structures and geographies

Seek to invest in situations that are mispriced, complex or less understood

Identify event-driven opportunities and catalysts that drive changes in value

Manage portfolios with no predetermined capital allocations and pursue active strategies to maximize value

5

Our multi-strategy investment process enables dynamic capital allocation

OZ Master Fund Historical Allocations by Strategy

Long/Short Equity Special Situations

Credit-Related Strategies

Convertible/Derivative Arbitrage

Private Investments Cash

Merger Arbitrage

7/1/13 4/1/13 1/1/13 10/1/12 7/1/12

4/1/12 1/1/12 10/1/11 7/1/11 4/1/11

1 1 0 3 26

23

69

52

24

5 20

20

40

60

80

-6.5% -5.5% -4.5% -3.5% -2.5% -1.5% -0.5% 0.5% 1.5% 2.5% 3.5% 4.5%

Capital preservation through consistent, disciplined asset allocation and exposure management

Limited use of leverage

Significant emphasis on portfolio diversification

6

The consistency of our historical returns is central to the value we create for our fund investors...

Freq

uenc

y of

Mon

thly

Ret

urn

Distribution of OZ Master Fund Composite Net Monthly Returns Since Inception

OZ Master Fund Composite Net Returns1

Past performance is no guarantee of future results. 1 Returns for August 2013 are preliminary month-end calculations and are subject to revision. The returns shown represent the composite performance of all feeder funds that comprise OZ Master Fund, Ltd. (“OZ Master Fund”) since the inception of OZ Master Fund on January 1, 1998 (collectively, the “Master Fund Composite”). The Master Fund Composite is calculated using the total return of all feeder funds net of all fees and expenses (except incentive income on unrealized gains attributable to investments that the Company, as investment manager, determines the lack of a readily ascertainable fair value, are illiquid or otherwise should be held until the resolution of a special event or circumstance (“Special Investments”) that could reduce returns on these investments at the time of realization), and includes the reinvestment of all dividends and other income. The Master Fund Composite also includes realized and unrealized gains and losses attributable to Special Investments and initial public offering investments that are not allocated to all investors in the feeder funds. Investors that were not allocated Special Investments and initial public offering investments may experience materially different returns, in which case the Master Fund Composite may be of limited value for such investors. The Master Fund Composite is not available for direct investment.

7

…and is supported by an institutionally-oriented risk management process

Risk is overseen by the Risk Committee Measured and managed using a combination of qualitative and quantitative analysis and inputs

Risk Committee is comprised of regional investing heads, senior portfolio managers, and

senior members of operations and infrastructure Advises on resizing/adjusting positions and implementing hedges Provides guidance to help determine asset allocation across portfolios Focuses on various components of portfolio risk, including market, liquidity and counterparty

Risk mindset is deeply embedded in Och-Ziff’s corporate culture

Dedicated risk analytics group

Regular analysis of risk reports

Routine scenario analysis and stress testing

Exposure monitoring, including industry, market and geographic

Specified assignment of responsibility for all positions and exposures

Management of risk, down to the analyst level, is an integral part of the research and investment process

Formal weekly meetings of Risk Committee, combined with informal daily discussions within and across portfolios and geographies

Focus on preservation of capital and portfolio diversification

Communication between portfolio managers and Risk Committee

Over 100 years of collective experience managing risk

Quantitative Analysis/Inputs Qualitative Analysis/Inputs

We are expanding our platforms to diversify our business and grow our asset base

8

Creating solutions to meet fund investor requirements Multi-strategy funds offer significant growth potential

Active investor interest

No immediate capacity constraints

Strategy for additional growth is centered on three investment strategies

Credit

Real estate

Long/short equity

Growth initiatives are a natural extension of our existing expertise and business

6.0 5.8

11.3

15.6

22.6

33.4

27.0

23.1

27.9 28.8

32.6

37.0

0.0

10.0

20.0

30.0

40.0

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 9/1/2013

Past performance is no guarantee of future results. 1Assets under management includes assets attributable to the Company’s hedge funds, real estate funds, credit funds, collateralized loan obligations (CLOs) and other alternative investment vehicles it manages. Management fees and incentive income earned on the Company’s assets under management may vary depending on the asset class, performance measurement period, amount of capital committed by investors, and other factors related to a particular investment vehicle. Includes amounts invested by the Company, its executive managing directors and certain other related parties for which the Company charged no management fees and received no incentive income for the periods presented. Amounts presented in this graph are not the amounts used to calculate management fees and incentive income for the respective periods. For the period from 2001 through 2004, total assets under management does not include assets externally managed by an affiliated investment adviser pursuant to a joint venture arrangement. 2Estimate as of September 1, 2013.

9

These elements have all contributed to the growth in our asset base

($ B

illio

ns)

Och-Ziff Historical Assets Under Management1

2

2002 – Sept 1, 2013 CAGR: 19%

Our objective is to become a leading credit manager

10

Senior secured loans Traditional distressed

credits Special situation credit Long/short credit Capital structure arbitrage Corporate mezzanine

loans Distressed for control

strategies Private loans Hybrid capital securities

of banks and insurers

RMBS CMBS, CRE and other

commercial real estate debt CDOs, CLOs, CBOs, CSOs

and ABS Whole loans and related

structured transactions Real estate finance,

including mortgages, mezzanine loans and B-notes

Portfolio sales of complex credit assets and NPLs

Tailored capital solutions

Primarily senior secured first lien loans

Limited baskets of second lien loans and unsecured bonds and loans

More than 15% of total assets under management in dedicated credit platforms1 Opportunistic capital rotation across credit markets, instruments and

geographies rather than simply trying to capture yield Building on investment expertise of dedicated global credit team

Corporate Credit Structured Credit CLO Management

1 As of June 30, 2013. Includes CLO assets.

Our real estate capability offers significant growth potential

11

Investment strategy focused on middle-market assets Proven ability to identify investment opportunities with non-correlated

returns to traditional real estate Distressed situations Value enhancement opportunities Bespoke capital needs Pricing arbitrage opportunities Absentee owners Niche properties

Value creation through

Intensive asset management Emphasis on increasing property cash flows through improvements and

expense controls Aggressive monetization

Our dedicated long/short equity platform builds on our long-standing expertise

12

Firm began business as a long/short equity investor Nearly two decades of investment experience, supported by long-tenured

investment team Substantial component of multi-strategy funds Focus on alpha generation, with active risk management through the use of

hedges

Stand-alone platform managed by the same team of professionals who are responsible for the equity investments in our multi-strategy funds

Our approach to equity investing in our multi-strategy funds has created

significant value for our fund investors Enhances the yield of their portfolios Long/short platform established at the request of existing fund investors

We believe we are well positioned to increase our market share of capital allocated to alternative managers

13

Investment performance track record based on a clearly articulated investment philosophy

Investment team background and expertise

Institutionally-oriented infrastructure

Alignment of interests

Proven willingness to meet fund investor requirements through new platform development

1Adjusted Income Taxes and Distributable Earnings are non-GAAP financial measures that supplement and should not be considered to be alternatives to Och-Ziff's income taxes, net income or cash flow from operations prepared in accordance with GAAP, and are not necessarily indicative of liquidity or the cash available to fund operations. Please see pages 17 and 18 of this presentation for important disclosures about Adjusted Income Taxes and Distributable Earnings.

The growth of our assets under management drives the embedded operating leverage of our business

14

Management Fees

Incentive Income

Operating Expenses

Adjusted Income Taxes

Distributable Earnings1

Simple and scalable financial model

Dividend

Management fees more than offset fixed expenses (salaries and benefits + non-compensation expenses) Structured to earn incentive income annually in cash on the majority of our assets under

management, which has been valuable to our shareholders As our assets under management grow, compounding effect on our management fees and

incentive income is significant Stability of our asset base is a powerful driver of future earnings

$0.46

$0.88

$1.13

$0.48

$1.18

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

2008 2009 2010 2011 2012

58%

82%

89%

83%

94%

We have paid out substantially all of our Distributable Earnings each quarter1

15

1The declaration and payment of future dividends will be at the sole discretion of the Company’s Board of Directors, which may change the Company’s dividend policy at any time. 2Dividend payout ratio = full-year dividend per Class A Share/ full-year Distributable Earnings per Share. Distributable Earnings, Distributable Earnings per Share and dividend payout ratio are non-GAAP financial measures that supplement and should not be considered as alternatives to Och-Ziff's net income or cash flow from operations prepared in accordance with GAAP, and are not necessarily indicative of liquidity or the cash available to fund operations. Please see pages 17 – 19 of this presentation for important disclosures about, and for reconciliations of, these non-GAAP financial measures to the respective GAAP measures for the periods shown above.

Distributable Earnings Per Share Dividend Payout Ratio2

Addendum

16

17

Non-GAAP Financial Measures The Company’s non-GAAP measures should not be considered as alternatives to the Company’s GAAP Net Income (Loss) or cash flow from operations, or as indicative of liquidity or the cash available to fund operations. The Company’s non-GAAP measures may not be comparable to similarly titled measures used by other companies. For reconciliations of the Company’s non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP, please see page 19 of this presentation. In addition to analyzing the Company’s results on a GAAP basis, management also reviews the Company’s results on an “Economic Income” basis. Economic Income excludes the adjustments described below that are required for presentation of the Company’s results on a GAAP basis, but that management does not consider when evaluating the operating performance of the Company in any given period. Management, therefore, uses Economic Income as the basis on which it evaluates the financial performance of the Company and makes resource allocation and other operating decisions. Management considers it important that investors review the same operating information that it uses. Economic Income is a measure of pre-tax operating performance that excludes the following from the Company’s results on a GAAP basis: Income allocations to the Company’s executive managing directors and the Ziffs on their direct interests in the Och-Ziff Operating Group.

Management reviews operating performance at the Och-Ziff Operating Group level, where substantially all of the Company’s operations are performed, prior to making any income allocations.

Reorganization expenses related to the Company’s IPO, equity-based compensation expenses and depreciation and amortization expenses, as management does not consider these non-cash expenses to be reflective of operating performance.

Changes in the tax receivable agreement liability, net gains on early retirement of debt, net earnings (losses) on deferred balances, the allocation of these deferred balances and related taxes, and net gains (losses) on investments in Och-Ziff funds, as management does not consider these items to be reflective of operating performance.

Amounts related to the consolidated Och-Ziff funds, including the related eliminations of management fees and incentive income, as management reviews the total amount of management fees and incentive income earned in relation to total assets under management and fund performance.

Expenses related to compensation arrangements based on fund investment performance are recognized at the end of the relevant measurement period (generally in the fourth quarter of each year), as management determines the total amount of compensation under these arrangements once the investment performance of the relevant fund over the applicable performance measurement period is known. In addition, the full amount of deferred cash compensation is recognized on the date it is determined (generally in the fourth quarter of each year), as management determines the total amount of compensation based on the Company’s performance in the year of the award.

18

Non-GAAP Financial Measures - Continued Distributable Earnings is a non-GAAP measure of after-tax operating performance and equals Economic Income less Adjusted Income Taxes. Adjusted Income Taxes are estimated assuming the conversion of all outstanding Partner Units into Class A Shares, on a one-to-one basis, and include the impact of payments under the tax receivable agreement. Therefore, all income (loss) of the Och-Ziff Operating Group allocated to the Partner Units is treated as if it were allocated to Och-Ziff Capital Management Group LLC. Partner Units represent interests in the Och-Ziff Operating Group held by the Company's executive managing directors and the Ziffs, including the Group A Units and Group D Units. Distributable Earnings per Share is equal to Distributable Earnings divided by the weighted-average number of Adjusted Class A Shares. Adjusted Class A Shares are determined assuming all Partner Units and all Class A Restricted Share Units are converted on a one-to-one basis into Class A Shares. Management believes Distributable Earnings provides useful information to investors because it uses Distributable Earnings, among other financial information, to determine the earnings available to distribute a s dividends to holders of the Company’s Class A Shares and to the Company’s executive managing directors and the Ziffs with respect to their Partner Units.

19

Och-Ziff Capital Management Group LLC Reconciliation of Certain Non-GAAP Measures to GAAP Measures (Unaudited)

(dollars in thousands)

2012 2011 2010 2009 2008

Net loss allocated to Class A Shareholders—GAAP $ (315,826) $ (418,990) $ (294,413) $ (297 ,429) $ (510,596)Reorganization expenses 1 ,396,882 1 ,614,363 1 ,626,988 1 ,7 04,7 53 1 ,698,989 Net loss allocated to the Och-Ziff Operating Group A Units (556,500) (1 ,088,514) (950,209) (1 ,127 ,7 29) (1 ,048,929)Equity -based compensation 86,006 128,916 128,7 37 122,461 102,025 Income taxes 7 9,085 59,581 41 ,07 8 37 ,7 03 40,066 Change in tax receivable agreement liability (13,421) (21 ,7 68) (1 ,368) (19,7 49) (1 ,67 6)Depreciation and amortization 9,362 9,67 6 9,07 8 8,541 6,640 Allocations to Och-Ziff Operating Group D Units 9,296 2,433 5,7 18 1 ,188 - Net gains on early retirement of debt - (12,494) - (21 ,7 97 ) - Net (earnings) losses on deferred balances - - - (54,138) 141 ,900 Allocation of deferred balances and related taxes to Mr. Och - - - 27 ,589 (96,334)Allocation of deferred balances and related taxes to non-equity interests - (66) (27 ) 19,57 5 (43,07 9)Amortization of deferred cash compensation and adjustment for expenses related to compensation arrangements based on fund investment performance - 600 1 ,500 6,201 10,480 Other (7 7 0) 35 (324) (3,490) 4,923 Econom ic Incom e—Non-GAAP 694,114 27 3,7 7 2 566,7 58 403,67 9 304,409 Adjusted Income Taxes—Non-GAAP (156,686) (7 4,17 6) (105,37 2) (48,341) (119,231) Distributable Earnings—Non-GAAP 537 ,428$ 199,596$ 461,386$ 355,338$ 185,17 8$

Weighted-Average Class A Shares Outstanding 142,97 0,660 102,848,812 87 ,910,97 7 7 8,387 ,368 7 4,398,336 Weighted-Average Partner Units 303,923,127 303,681,837 307 ,939,421 310,422,848 310,680,006 Weighted-Average Class A Restricted Share Units (RSUs) 8,216,856 12,037 ,663 13,7 7 5,7 49 15,27 6,619 14,923,7 7 2 Weighted-Average Adjusted Class A Shares 455,110,643 418,568,312 409,626,147 404,086,835 400,002,114

Distributable Earnings Per Adjusted Class A Share—Non-GAAP 1.18$ 0.48$ 1.13$ 0.88$ 0.46$

Dividends with Respect to Year 1.11$ 0.40$ 1.01$ 0.7 2$ 0.27$

Dividend Pay out Ratio 94% 83% 89% 82% 58%

Year Ended Decem ber 31,

Barclays Global Financial Services Conference

Daniel S. Och Chairman and Chief Executive Officer

September 10, 2013