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based. Accordingly. the actual realeted returns generated by these unrealized investments may differ materially from the returns indicated herein. Target returns. The targeted returns (the "Targets') presented herein are based on Glendowees views retarding the returns on investments that such funds may
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
based. Accordingly. the actual realized returns generated by these unrealized investments may differ materially from the returns indicated herein. Target returns. The targeted returns (the "Targets') presented herein are based on Glendower's views retarding the returns on investments that such funds ma
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
based. Accordingly. the actual realeted returns generated by these unrealized investments may differ materially from the returns indicated herein. Target returns. The targeted returns (the "Targets') presented herein are based on Glendowees views retarding the returns on investments that such funds may
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 Target and Deutsche Bare

Deutsche Bank
ORGANIZATION
Prince Charles
PERSONGlendower
LOCATIONFrancesco Rigamonti
PERSONCharles Smith
PERSONAdam Graev
PERSONthe Glendower SOF Team's
ORGANIZATIONDeutsche Bank Securities Inc.
ORGANIZATIONTolal Value
PERSONCarlo Pirzio-Birce
PERSON