X0202 4 2006-12-19 0 0001373561 NewStar Financial, Inc. NEWS 0001054587 OZ MANAGEMENT LLC 9 WEST 57TH STREET, 39TH FLOOR NEW YORK NY 10019 0 0 1 0 Common Stock, par value $0.01 per share 2006-12-19 4 C 0 4587278 A 6122064 I See Footnotes Common Stock, par value $0.01 per share 2006-12-20 4 P 0 92900 18.10 A 6214964 I See Footnotes Common Stock, par value $0.01 per share 2006-12-20 4 P 0 50000 18.25 A 6264964 I See Footnotes Common Stock, par value $0.01 per share 2006-12-20 4 P 0 50000 18.218 A 6314964 I See Footnotes Series A convertible Preferred Stock, par value $0.01 2006-12-19 4 C 0 11380000 D Common Stock 4587331 0 I See Footnotes The Series A Convertible Preferred Stock converted into NewStar Financial, Inc. Common Stock on a one-for 2.2760 basis and had no expiration date. Reflects a 1-for-2.4808 reverse split of our Common Stock that became effective on December 19, 2006. Represents securities directly held by OZ Master Fund, Ltd. (the "Fund"). OZ Management, LLC ("OZ"), as investment manager to the Fund, may be deemed to be the beneficial owner of the Issuer's securities held by the Fund. OZ disclaims beneficial ownership of such securities, and this report shall not be deemed an admission that OZ is the beneficial owner of the securities for the purpose of Section 16 or for any other purpose, except to its pecuniary interest therein. Daniel S. Och, as Senior Managing Member of OZ Management, LLC, may be deemed to be the beneficial owner of the Issuer's securities held by the Fund. Mr. Och disclaims beneficial ownership of such securities, and this report shall not be deemed an admission that Mr. Och is the beneficial owner of the securities for the purpose of Section 16 or for any other purpose, except to his pecuniary interest therein. Not applicable. /s/ Daniel S. Och, Senior Managing Member of OZ Management, LLC 2006-12-21