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ive Investment Fund Managers Directive. Neither the General Partner nor the Investment Manager is authorized or expected to become authorized under the European Union's Directive 2011/61/EU on Alternative Investment Fund Managers (the "AIFM Directive") as of the date of this Memorandum, and the substantive require
U.S."), to provide investment advice to the Manager in connection with the investment management of the Fund. The Manager will be responsible for Glendower U.S.'s fees pursuant to a sub- advisory agreement. Commitments The Fund is seeking aggregate commitments to the Fund ("Commitments") of US$1.75 billion,
ive Investment Fund Managers Directive. Neither the General Partner nor the Investment Manager is authorized or expected to become authorized under the European Union's Directive 2011/61/EU on Alternative Investment Fund Managers (the "AIFM Directive") as of the date of this Memorandum, and the substantive require
U.S."), to provide investment advice to the Manager in connection with the investment management of the Fund. The Manager will be responsible for Glendower U.S.'s fees pursuant to a sub- advisory agreement. Commitments The Fund is seeking aggregate commitments to the Fund ("Commitments") of US$1.75 billion,
ive Investment Fund Managers Directive. Neither the General Partner nor the Investment Manager is authorized or expected to become authorized under the European Union's Directive 2011/61/EU on Alternative Investment Fund Managers (the "AIFM Directive") as of the date of this Memorandum, and the substantive require
U.S."), to provide investment advice to the Manager in connection with the investment management of the Fund. The Manager will be responsible for Glendower U.S.'s fees pursuant to a sub- advisory agreement. Commitments The Fund is seeking aggregate commitments to the Fund ("Commitments") of US$1.75 billion,
ive Investment Fund Managers Directive. Neither the General Partner nor the Investment Manager is authorized or expected to become authorized under the European Union's Directive 2011/61/EU on Alternative Investment Fund Managers (the "AIFM Directive") as of the date of this Memorandum, and the substantive require
U.S."), to provide investment advice to the Manager in connection with the investment management of the Fund. The Manager will be responsible for Glendower U.S.'s fees pursuant to a sub- advisory agreement. Commitments The Fund is seeking aggregate commitments to the Fund ("Commitments") of US$1.75 billion,
ive Investment Fund Managers Directive. Neither the General Partner nor the Investment Manager is authorized or expected to become authorized under the European Union's Directive 2011/61/EU on Alternative Investment Fund Managers (the "AIFM Directive") as of the date of this Memorandum, and the substantive require
U.S."), to provide investment advice to the Manager in connection with the investment management of the Fund. The Manager will be responsible for Glendower U.S.'s fees pursuant to a sub- advisory agreement. Commitments The Fund is seeking aggregate commitments to the Fund ("Commitments") of US$1.75 billion,
Entities connected to both European Union and Glendower U.S.'s

United States
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United Kingdom
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Prince Charles
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New York
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Hungary
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Julie K. Brown
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