Epstein Secrets

— London Deutsche Bank MA, Cambridge University Deirdre Davies 16 Joshua Glaser 22 Partner, COO — London Deutsche Bank; ABN Amro; KPMG BCom, KZN University, South Africa; CA (SA) Partner, Client Coverage — New York Deutsche Bank; Paul Capital; Forum Capital; CIBC Oppenheimer BS, Tufts University Rik

2013 2014 Fund Secondary Source: Glendower Capital analysis and own estimates based on Greenhill Secondary Market Trends & Outlook, January 2018; Greenhill GP Solutions Discussion Materials, May 2017; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. 2015 2016 2017 2018F 9 16 26

— London Deutsche Bank MA, Cambridge University Deirdre Davies 16 Joshua Glaser 22 Partner, COO — London Deutsche Bank; ABN Amro; KPMG BCom, KZN University, South Africa; CA (SA) Partner, Client Coverage — New York Deutsche Bank; Paul Capital; Forum Capital; CIBC Oppenheimer BS, Tufts University Rik

2013 2014 Fund Secondary Source: Glendower Capital analysis and own estimates based on Greenhill Secondary Market Trends & Outlook, January 2018; Greenhill GP Solutions Discussion Materials, May 2017; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. 2015 2016 2017 2018F 9 16 26

— London Deutsche Bank MA, Cambridge University Deirdre Davies 16 Joshua Glaser 22 Partner, COO — London Deutsche Bank; ABN Amro; KPMG BCom, KZN University, South Africa; CA (SA) Partner, Client Coverage — New York Deutsche Bank; Paul Capital; Forum Capital; CIBC Oppenheimer BS, Tufts University Rik

2013 2014 Fund Secondary Source: Glendower Capital analysis and own estimates based on Greenhill Secondary Market Trends & Outlook, January 2018; Greenhill GP Solutions Discussion Materials, May 2017; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. 2015 2016 2017 2018F 9 16 26

— London Deutsche Bank MA, Cambridge University Deirdre Davies 16 Joshua Glaser 22 Partner, COO — London Deutsche Bank; ABN Amro; KPMG BCom, KZN University, South Africa; CA (SA) Partner, Client Coverage — New York Deutsche Bank; Paul Capital; Forum Capital; CIBC Oppenheimer BS, Tufts University Rik

2013 2014 Fund Secondary Source: Glendower Capital analysis and own estimates based on Greenhill Secondary Market Trends & Outlook, January 2018; Greenhill GP Solutions Discussion Materials, May 2017; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. 2015 2016 2017 2018F 9 16 26