SCHEDULE 13G/A 0001140361-24-048814 0001892307 XXXXXXXX LIVE 1 Common Stock, $0.001 par value per share 12/31/2025 0000910612 CBL & ASSOCIATES PROPERTIES, INC. 124830878 2030 Hamilton Place Blvd., Suite 500, Chattanooga TN 37421 Rule 13d-1(c) OCM Xb CBL-E Holdings, LLC DE 0 2517577 0 2517577 2517577 8.21 OO Calculated based upon 30,682,618 shares of Common Stock outstanding as of November 3, 2025, as reported on the Issuer's Form 10-Q, filed with the SEC on November 7, 2025. Oaktree Capital Holdings, LLC DE 0 2517577 0 2517577 2517577 8.21 OO Calculated based upon 30,682,618 shares of Common Stock outstanding as of November 3, 2025, as reported on the Issuer's Form 10-Q, filed with the SEC on November 7, 2025. Oaktree Capital Group Holdings GP, LLC DE 0 2517577 0 2517577 2517577 8.21 OO Calculated based upon 30,682,618 shares of Common Stock outstanding as of November 3, 2025, as reported on the Issuer's Form 10-Q, filed with the SEC on November 7, 2025. CBL & ASSOCIATES PROPERTIES, INC. 2030 Hamilton Place Blvd., Suite 500, Chattanooga, TN 37421 This Schedule 13G/A is filed jointly by each of the following persons (collectively, the "Reporting Persons"): (1) OCM Xb CBL-E Holdings, LLC ("Xb CBL-E"), Delaware limited partnership; (2) Oaktree Capital Holdings, LLC (f/k/a Atlas OCM Holdings, LLC) ("OCH"), in its capacity as the indirect manager of Xb CBL-E; and (3) Oaktree Capital Group Holdings, GP LLC ("OCGH"), a Delaware limited liability company, in its capacity as the indirect owner of the class B units of OCH. The principal business address of each of the Reporting Persons is 333 S. Grand Avenue, 28th Floor, Los Angeles, CA 90071. See responses to Item 4 on each cover page. Y See responses to Item 9 on each cover page. See responses to Item 11 on each cover page. See responses to Item 5 on each cover page. See responses to Item 6 on each cover page. See responses to Item 7 on each cover page. See responses to Item 8 on each cover page. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit A Joint Filing Agreement, dated as of January 21, 2026. OCM Xb CBL-E Holdings, LLC /s/ Henry Orren 01/21/2026 Oaktree Capital Holdings, LLC /s/ Henry Orren 01/21/2026 Oaktree Capital Group Holdings GP, LLC /s/ Henry Orren 01/21/2026