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eece, Hungary, Iceland, Republic of Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom of Great Britain and Northern Ireland. Proprietary and Confidential 49 EFTA01397903
dary Opportunities Fund investment program (the "SOF Business") in 2006 after having worked together from 2003 to 2006 to restructure and wind down Deutsche Bank's €5.1 billion proprietary balance sheet private equity portfolio.1 Chi Cheung and Deirdre Davies (Partners of Glendower) and Francesco Rigamonti (S
l the Carried Interest generated by the Fund. .>Z The Investment Committee of the Fund will consist solely of individuals from Glendower Capital. tZ Deutsche Bank will not be involved in the management of SOF IV, or any future funds managed or advised by Glendower Capital. Accordingly, Deutsche Bank will not
eece, Hungary, Iceland, Republic of Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom of Great Britain and Northern Ireland. Proprietary and Confidential 49 EFTA01395861
dary Opportunities Fund investment program (the "SOF Business") in 2006 after having worked together from 2003 to 2006 to restructure and wind down Deutsche Bank's €5.1 billion proprietary balance sheet private equity portfolio.1 Chi Cheung and Deirdre Davies (Partners of Glendower) and Francesco Rigamonti (S
l the Carried Interest generated by the Fund. .>Z The Investment Committee of the Fund will consist solely of individuals from Glendower Capital. tZ Deutsche Bank will not be involved in the management of SOF IV, or any future funds managed or advised by Glendower Capital. Accordingly, Deutsche Bank will not
eece, Hungary, Iceland, Republic of Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom of Great Britain and Northern Ireland. Proprietary and Confidential 49 EFTA01396425
dary Opportunities Fund investment program (the "SOF Business") in 2006 after having worked together from 2003 to 2006 to restructure and wind down Deutsche Bank's €5.1 billion proprietary balance sheet private equity portfolio.1 Chi Cheung and Deirdre Davies (Partners of Glendower) and Francesco Rigamonti (S
l the Carried Interest generated by the Fund. .>Z The Investment Committee of the Fund will consist solely of individuals from Glendower Capital. tZ Deutsche Bank will not be involved in the management of SOF IV, or any future funds managed or advised by Glendower Capital. Accordingly, Deutsche Bank will not
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eece, Hungary, Iceland, Republic of Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom of Great Britain and Northern Ireland. Proprietary and Confidential 49 EFTA01395397
dary Opportunities Fund investment program (the "SOF Business") in 2006 after having worked together from 2003 to 2006 to restructure and wind down Deutsche Bank's €5.1 billion proprietary balance sheet private equity portfolio.1 Chi Cheung and Deirdre Davies (Partners of Glendower) and Francesco Rigamonti (S
eece, Hungary, Iceland, Republic of Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom of Great Britain and Northern Ireland. Proprietary and Confidential 49 EFTA01397098
dary Opportunities Fund investment program (the "SOF Business") in 2006 after having worked together from 2003 to 2006 to restructure and wind down Deutsche Bank's €5.1 billion proprietary balance sheet private equity portfolio.1 Chi Cheung and Deirdre Davies (Partners of Glendower) and Francesco Rigamonti (S
.0 0.9 1.2 0.8 0.8 0.7 1.1 1.0 1.4 2.4 -0.4 1.7 1.6 1.7 1.3 1.5 1.6 1.9 1.9 1.8 2.3 0.3 EEMEA Poland Hungary Czech Republic Romania Russia Ukraine Kazakhstan Israel Turkey South Africa GDP (% yoy) 2015F 2016F 2017F 1.0 3.4 2.7 4.5 3.7 1.9 3.5 2.4 2.7 4.0 -3.7 -
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