Do Not Copy or Distribute Without Written Permission from Valar Ventures LLC Valar Global Fund III LP $200,000,000 VALAR Limited Partner Interests Confidential Private Placement Memorandum Valar Ventures LLC 915 Broadway, Suite 1101 New York, N

Valar Global Fund III LP (a Delaware Limited Partnership) Financial Statements Year Ended December 31, 2018 The report exemparging these financial statements was imsed by

Valar Global Fund III LP Unaudited Financial Statements March 31, 2018 VALAR EFTA00810352 Valar Global Fund HI LP Statement of Assets, Liabilities, and Partners' Capit

alar Global Fund II LP, "Fund 2" refers to Valor Global Fund II LP and Valar Global Principals Fund II LP, on an aggregate basis, "Fund 3" refers to Valar Global Fund III LP and Valar Global Principals Fund III LP. on an aggregate basis. and "Fund 4" refers to Velar Global Fund IV LP and Valar Global Principals Fund IV LP