Epstein Secrets

d Controller. New York York ai Role: ant year.. ul e, / .,,k,,,,,. Chi Cheung H:D 0 Partner - London Deutsche Bank MA. CurnbreArk Ulmer etc Francesco Rigamonti 00 Senior Advisor - London Deutsche Bank; Gallo S. Co MBA, unpronay <A . . • M.A. Milan thay. ri Victoa Loidl Aias. Vice President, London

GLOUSI27 Annandale Capital Glendower Capital Team Core members of senior team have worked together for 15 years Carlo Pirzlo-Blroll 00 Managing Partner, CEO - London Deut

i) Carlo Pirzio-Bircai and Charles Smith have been permanent voting members of the SOP Funds investment committees since inception: (ii) Chi Cheung. Francesco Rigamonti and Adam Graev have attended as observers the majority of investment committees of the SOF Funds since inception. they were appointed in December 201

GL0USI27 Annandale Capital Notes to Investment Performance Important Information on the Track Record. The Glendower SOF Team spun-oft from Deutsche Bann and its affiliates (

of safety Purchased 350+ mature fund interests at a discount over 10 years: ■ Average 20% discount to FMV ■ Average —80% funded at time of entry Francesco Rigamonti 18 Senior Advisor — London Deutsche Bank; Gallo & Co. EFTA01397428 GLDUS127 Annandale Capital Strictly Confidential Endnotes (1) Glendower C

GLDUS127 Annandale Capital GLENDOWER ACCESS SECONDARY OPPORTUNITIES FUND IV (U.S.), L.P. CONFIDENTIAL Glendower Access Secondary Opportunities IV (U.S.), L.P. will invest s

sident, London 5 years with the team [hiring — 1018] -Associate, London Maxine Turner 20 Executive Assistant London 2 years with the team Francesco Rigamonti 20 Senior Advisor — London Deutsche Bank; Gallo & Co. MBA, University of Chicago Booth; MA, Milan Univ. Elena Smirnova 7 Vice President, Lon

GLDUS127 Annandale Capital CONFIDENTIAL Glendower Access Secondary Opportunities IV (U.S.), L.P. Overview April 2018 STRICTLY CONFIDENTIAL FOR INVESTMENT PROFESSIONAL AND

Carlo Pirzio-Biroli and Charles Smith have been permanent voting members of the SOF Funds investment committees since inception; (ii) Chi Cheung, Francesco Rigamonti and Adam Graev have attended as observers the majority of investment committees of the SOF Funds since inception, they were appointed in December 2

"Important Information" and "Important Performance Information" sections of this Presentation. STRICTLY CONFIDENTIAL 54 EFTA01397560 GLDUS127 Annandale Capital SOF Remaining portfolio construction by FMV1 as of September 30, 2017 Overview Vintage Fund size Invested capital Capital called Distribution