GLDUS143 Henry Nicholas SOF Remaining portfolio construction by FMV1 as of September 30, 2017 Overview Vintage 2006 Fund size US$565m Invested capital 549m Capital called 421m Distributions, net 756m 1 80x Remaining NAV Total net return Asset geography Europe 90% North Amen ca 10% 20m 0 05x US$775m 1 84x 22% Investment strategy 6% 0% 49% Vintage year 46% 2% I 20°k 33% 45% • Large Buyout • Growth Equity Special Situations Mezzanine • Pre 2006 • 2006 2007 2008 - 2009 1) FMV= Fair Market Vaite Past perfonname. is milt a orrarantee ar inclicreor al future reirAits, arid tee can be no aserniice that the fund wilt achieve comparable revts. This page should be reviewed in conjunction with the important Information' and -Notes to Investment Pertormanoe‘ sections of this Presentation Sector composition 21% 10% 5% Healthcare Industrials Business Services IT and Technology Financial Services El Other Glendower Capital STRICTLY CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R CRIM. P. 6(e) DB-SDNY-0039058 CONFIDENTIAL SDNY_GM_00185242 EFTA01354464