Epstein Secrets

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

in Capital; IRR = Internal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01398169 Greg Martin Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

ernal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01396809 GLDUS126 Pacific Life Insurance Co Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

RR = Internal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01397482 GLDUS127 Annandale Capital Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

tal; IRR = Internal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01396132 GLDUS125 Gerald Ford Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%