GLDUS133 Georgetown University Endowment Buyout-like returns with a secondary risk profile' SOF Funds outperform Cambridge Associates buyout top-quartile benchmark TVPI in line with top-quartile buyout funds... ...With a secondary cashflow profile SOF III 2005 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 vintage Year DPI2 23x 2.04 1.5x 0.5x 0.0x 2005 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 Buyout Top Charlie 4p SOF Program Vintage Year Delivering a compelling risk / reward profile Net IF1R2 2005 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 Vintage Year (1) Source: Cambridot otos Global Buyout Benchmark as of September 30. 2017. This information ieffects a comparison of SOF. SOP D. SOF II & SOF III porforman1/4 aoarnst one benchmark only Past parfaunahoe is ria apreditaion c' the btu:a perforrearze of SOF. SOF D, SOP .2i. SOF ttit imitsied to d ernonstirite the trackiecord of the Gen:lower SOP Team. Informeaionlyesendel in this tarts based on the unaudited results of SOF. SOF D. SOF if and SG? ill as of September $0.'017 and should be read and renewed Yi conjunction with the important Information and 'Notes to Imiesimerit Performance Information" secifellS(}1tfett presentation (2) TVPI= Total Value to Capital, DPI = Castabutions to Paid.ln Capital: Net iRR = Net Internal Rate of Return. TVPI aryl DPI are pooled return awiegating all cast', flows and ending NAVs in a sample to calculate a dolar-weighted Fetish. Not !RR" ate nut of fees. eventes and cafried.interest Cambia* Associates research shaves that 0166l funds lake least six yeartio settle jrap then quartile ranking. and piryrous to Les ue.-tthno they typioally rarik in 24 other quaitties. thefefore (Leto oi be perensrirr_oi metirCS ''merit me recent yuniage years mar be *se mewsnatd. Top quaniw *the thresrod for the upper (top °A-.) quart* based on the Individual fund IRRs included in a vintage year and are used in conjunction with the median to determine quartile placement (minimum f.4 funds. Glendower Capital STRICTLY CONFIDENTIAL 18 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093875 CONFIDENTIAL SDNY_GM_00240059 EFTA01389516