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2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchmariong VI Glendower Canted to tuyoul returns. Pease refer to Went 3 Pau performance is not a psocicil of Ile future performance of SCF. SOF D SOF II or SOF Ill but is included to demonstrate the track
Or 17x 14x ICs Gross IRR 29% 37% 23% 31% 28% Net mutIpk (WPM tag 2.3: 1.5x 1.3)r 14: Not elstributord (OFF) ttx Lk 1St Lk tilx NotIRR 22% 20% 20% 30% 23% Peas net centrested °dotal 26% 51% 42% 44% For diroutnon purposes cnly Source Glendower Capital based on Preqin benchm
2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchmariong VI Glendower Canted to tuyoul returns. Pease refer to Went 3 Pau performance is not a psocicil of Ile future performance of SCF. SOF D SOF II or SOF Ill but is included to demonstrate the track
Or 17x 14x ICs Gross IRR 29% 37% 23% 31% 28% Net mutIpk (WPM tag 2.3: 1.5x 1.3)r 14: Not elstributord (OFF) ttx Lk 1St Lk tilx NotIRR 22% 20% 20% 30% 23% Peas net centrested °dotal 26% 51% 42% 44% For diroutnon purposes cnly Source Glendower Capital based on Preqin benchm
2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchrnarlong VI Glendower Canted lo tuyoul returns. Pease refer to Exhibit 3 Pau performance is not a peocicil of the future performance of r-iF SOF D SOF II or SOF III but is included to demonstrate the tr
17x 14x 161 Gross IRR 29% 37% 23% 31% 28% flatmate's (WPM 1.tx 2.3x 1.5x 1.3x 1.Sx Net distributed (OFF) tax 2.1x 1.2x Lk 0.9x NotIRR 22% 29% 20% 30% 23% Peak net centriti.ted °dotal 26% 51% 42% 44% For dem- en purposes only. Source Glendower Captor based on Prow benchmar
2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchmariong VI Glendower Canted to tuyoul returns. Pease refer to Went 3 Pau performance is not a psocicil of Ile future performance of SCF. SOF D SOF II or SOF Ill but is included to demonstrate the track
Or 17x 14x ICs Gross IRR 29% 37% 23% 31% 28% Net mutIpk (WPM tag 2.3: 1.5x 1.3)r 14: Not elstributord (OFF) ttx Lk 1St Lk tilx NotIRR 22% 20% 20% 30% 23% Peas net centrested °dotal 26% 51% 42% 44% For diroutnon purposes cnly Source Glendower Capital based on Preqin benchm
Entities connected to both Pease and NotIRR

North America
LOCATIONTaal Value
ORGANIZATIONThe Glendower SOF Team
ORGANIZATIONthe SOF Program
ORGANIZATIONSOF IV
ORGANIZATIONCaeca
ORGANIZATIONInternal Rate of Return
ORGANIZATIONinvested29 USS3.3 billion
ORGANIZATIONVI Glendower Canted
ORGANIZATIONGkndowee SOF Team
ORGANIZATIONApperda 5 Important Pertonnance
ORGANIZATIONDathrio
ORGANIZATIONDstritutons 10 Pad in Capital RR
ORGANIZATIONDeltas
ORGANIZATIONDseitutons fo Pad
PERSON