Exhibit C
LOCK-UP AGREEMENT
The undersigned stockholder (the Holder) of Hims, Inc., a Delaware corporation (the
Company), understands that the Company entered into that certain Agreement and Plan of Merger (the Merger Agreement and the transactions contemplated by the Merger Agreement, the Merger),
dated as of September 30, 2020, with Oaktree Acquisition Corp., a Delaware corporation (Parent), and Rx Merger Sub Inc., a wholly owned subsidiary of Parent (the Merger Sub), pursuant to which Merger Sub
will merge with and into the Company and the Company will survive the merger as a wholly owned subsidiary of Parent, which will subsequently change its name to Hims & Hers Health, Inc.
In order to induce the Company and Parent to complete the Merger and in consideration of the covenants and agreements
contained in this Lock-Up Agreement (this Agreement), the receipt and sufficiency of which are hereby acknowledged, Holder agrees, contingent upon the Effective Time (as defined in the
Merger Agreement) and to be effective immediately prior to the Effective Time, as follows:
1. Holder hereby agrees that it
will not, without the prior written consent of Parent, during the period commencing on the date of the closing of the Merger (the Closing Date) and ending on the date that is one hundred eighty (180) days after the closing of
the Merger, (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or
indirectly, any shares of Parent Class A Common Stock, par value $0.0001 per share (the Common Stock), or any securities convertible into or exercisable or exchangeable for Common Stock issued or issuable to Holder pursuant
to the Merger Agreement (collectively, the Lock-Up Shares), or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of the Lock-Up Shares, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash or
otherwise.
2. Notwithstanding the foregoing, Holder may transfer its Lock-Up
Shares (i) as a bona fide gift or gifts, (ii) to any member of Holders immediate family or to any trust or other entity controlled or managed, or under common control or management, by Holder or the immediate family of Holder, or if
Holder is a trust or other similar entity, to a trustor or beneficiary or similar person of the trust or other entity or to the estate of a beneficiary or similar person of such trust or other entity, (iii) upon death or by will, testamentary
document or the laws of intestate succession, (iv) if Holder is a corporation, partnership, limited liability company, trust or other business entity, (A) to another corporation, partnership, limited liability company, trust or other
business entity that is an affiliate (as defined in Rule 405 promulgated under the Securities Act of 1933, as amended) of Holder, or to any investment fund or other entity controlling, controlled by, managing or managed by or under common control
with Holder or affiliates of Holder (including, for the avoidance of doubt, where Holder is a partnership, to its general partner or a successor partnership or fund, or any other funds managed by such partnership), or (B) as part of a
distribution, transfer or disposition without consideration by Holder to its stockholders, partners, members or other equity holders, (v) to Parent in connection with the net or cashless exercise or settlement of
warrants or stock options, restricted stock units or other equity awards (and any transfer to Parent necessary to generate such amount of cash needed for the payment of taxes, including estimated taxes, due as a result of such vesting, settlement or
exercise whether by means of a net settlement or otherwise), (vi) to Parent in connection with the repurchase of shares of Common Stock issued pursuant to equity awards granted under a stock incentive plan or other equity award plan or
pursuant to the agreements under which such shares were issued, provided that such repurchase of shares of Common Stock is in connection with the termination of Holders service provider relationship with Parent, (vii) pursuant to a final
qualified domestic order or in connection with a divorce settlement, or (viii) pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction that is approved