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of Glendower. when the team were employees of Deutsche Bank In evaluating the track record. each Redeem should note that (i) Carlo Pirzio-Birce and Charles Smith have been permanent voting members of the SOP Funds investment comnettees sieee inception: (ii) Chi Cheung. Francesco Rigamonti and Adam Graev have
GLDUS238 SOUTHERN FINANCIAL LLC Notes to Investment Performance Important Information on the Track Record. The Giendower SOF Team spun-oft from Deutsche Bare and its affiliates ('Deutsche Bank nii August 1.2017 and established Glendower Capital: LLP and its affiliates (together. Miketateeyi o:, independe
Glendower. when the team were employees of Deutsche Bank In evaluating the track record. each Recipient should note that (i) Carlo Pirzie-Bircai and Charles Smith have been permanent voting members of the SOP Funds investment comnettees sieee inception: (ii) Chi Cheung. Francesco Rigamonti and Adam Graev have
GLOUS238 SOUTHERN FINANCIAL LLC Notes to Investment Performance Important Information on the Track Record. The Glendower SOF Team spun-off from Deutsche Bare and its affiliates ("Deutsche Bank i August 1.2017 and established Glendower Capital: LLP and its affiliates (together. Sienaerceee o:, *dependent
of Glendower. when the team were employees of Deutsche Bank In evaluating the track record. each Redeem should note that (i) Carlo Pirzio-Birce and Charles Smith have been permanent voting members of the SOP Funds investment comnettees sieee inception: (ii) Chi Cheung. Francesco Rigamonti and Adam Graev have
GLDUS238 SOUTHERN FINANCIAL LLC Notes to Investment Performance Important Information on the Track Record. The Giendower SOF Team spun-oft from Deutsche Bare and its affiliates ('Deutsche Bank nii August 1.2017 and established Glendower Capital: LLP and its affiliates (together. Miketateeyi o:, independe
Entities connected to both Charles Smith and Deutsche Bare

Prince Charles
PERSONGlendower
LOCATION
Deutsche Bank
ORGANIZATIONAdam Graev
PERSONFrancesco Rigamonti
PERSONthe Glendower SOF Team's
ORGANIZATION
Target
ORGANIZATIONDeutsche Bank Securities Inc.
ORGANIZATIONTolal Value
PERSONCarlo Pirzio-Birce
PERSON