uch gain and other income is allocated to the Partners. Distributions to the General Partner and the Special Limited Partner will not be subject to Carried Interest. Special Limited Partner Clawback Organizational Expenses Operating and Other Expenses Transaction, Break•Up and Other Fees Fund Advisory Co

llectively. Program SOF Team As defined in Section 1: Executive Summary. Special Limited Partner An affiliate of the Manager that shall receive Carried Interest. Confidential Private Placement Memorandum 106 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038936 CONFIDENTIAL SDNY_GM_00185120

uch gain and other income is allocated to the Partners. Distributions to the General Partner and the Special Limited Partner will not be subject to Carried Interest. Special Limited Partner Clawback Organizational Expenses Operating and Other Expenses Transaction, Break•Up and Other Fees Fund Advisory Co

llectively. Program SOF Team As defined in Section 1: Executive Summary. Special Limited Partner An affiliate of the Manager that shall receive Carried Interest. Confidential Private Placement Memorandum 106 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039368 CONFIDENTIAL SDNY_GM_00185552

llectively. Program SOF Team As defined in Section 1: Executive Summary. Special Limited Partner An affiliate of the Manager that shall receive Carried Interest. Confidential Private Placement Memorandum 106 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039812 CONFIDENTIAL SDNY_GM_00185996

uch gain and other income is allocated to the Partners. Distributions to the General Partner and the Special Limited Partner will not be subject to Carried Interest. Special Limited Partner Clawback Organizational Expenses Operating and Other Expenses Transaction, Break•Up and Other Fees Fund Advisory Co

llectively. Program SOF Team As defined in Section 1: Executive Summary. Special Limited Partner An affiliate of the Manager that shall receive Carried Interest. Confidential Private Placement Memorandum 106 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0040244 CONFIDENTIAL SDNY_GM_00186428

llectively. Program SOF Team As defined in Section 1: Executive Summary. Special Limited Partner An affiliate of the Manager that shall receive Carried Interest. Confidential Private Placement Memorandum 106 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0040676 CONFIDENTIAL SDNY_GM_00186860

law or the applicable law of any state or governmental body to be collected with respect to compensation paid by the Employer to an employee. (c) Carried Interest. In addition to the base salary paid to the Employee in accordance with Section 3(a) of this Agreement and the other benefits provided to the Emplo

istribution: $ 1,752,515.84 Total Distribution: $ 1,752,515.84 Important Notes The "Total Distribution" amount includes estimated deductions for Carried Interest and current and future expenses payable by the Fund. This document is not intended to be, nor should it be construed or used as an offer to sell, o

25% to the General Partner ("Carried Interest"). Upon liquidation of the Fund, if the General Partner has received distributions on account of its Carried Interest in excess of the percentage of the Fund's cumulative net gain which has been allocated to the General Partner since inception (other than in respec

ing, but not limited to, more favorable reporting or information rights (i.e., greater transparency); and/or (ii) may not be (x) subject to the same Carried Interest; (y) subject to the same restrictions as to transfers as the Interests held by other Members: and/or (z) subject to such other provisions as the Ma

uch gain and other income is allocated to the Partners. Distributions to the General Partner and the Special Limited Partner will not be subject to Carried Interest. Special Limited Partner Clawback Organizational Expenses Operating and Other Expenses Transaction, Break•Up and Other Fees Fund Advisory Co

llectively. Program SOF Team As defined in Section 1: Executive Summary. Special Limited Partner An affiliate of the Manager that shall receive Carried Interest. Confidential Private Placement Memorandum 106 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055404 CONFIDENTIAL SDNY_GM_00201588

nd the amount actually funded to date may be smaller than the projected capital requirement described above. (3) Returns Before Management Fee and Carried Interest represents projected cumulative portfolio-level returns including all asset-level cash flows, fund expenses, and the impact of the fund's credit line

Since Inception, O4 2018 Initial Total Velilde Deal 'Raft Prof. Returns ge6xe Mgmt Fee and Carried Interne" Prot Returns After Mgmt Fee and Carried Interest") Current Equity g" Equity c" Investment Vehicle Investment Site'" Committee" IRRO1 Multiple !Re' Multiple leverageO1 %Reallted1e Opportuni

Since Inception, O4 2018 Initial Total Velilde Deal 'Raft Prof. Returns ge6xe Mgmt Fee and Carried Interne" Prot Returns After Mgmt Fee and Carried Interest") Current Equity g" Equity c" Investment Vehicle Investment Site'" Committee" IRRO1 Multiple !Re' Multiple leverageO1 %Reallted1e Opportuni

llectively. Program SOF Team As defined in Section 1: Executive Summary. Special Limited Partner An affiliate of the Manager that shall receive Carried Interest. Confidential Private Placement Memorandum 106 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0082708 CONFIDENTIAL SDNY_GM_00228892

uch gain and other income is allocated to the Partners. Distributions to the General Partner and the Special Limited Partner will not be subject to Carried Interest. Special Limited Partner Clawback Organizational Expenses Operating and Other Expenses Transaction, Break•Up and Other Fees Fund Advisory Co

uch gain and other income is allocated to the Partners. Distributions to the General Partner and the Special Limited Partner will not be subject to Carried Interest. Special Limited Partner Clawback Organizational Expenses Operating and Other Expenses Transaction, Break•Up and Other Fees Fund Advisory Co