,000,000 $120,000,000 $80,000,000 $40,000,000 Fund 2 $O Cost Basis Current FMV 1 10 separate investments into 3 companies account for 92% of Fund 2's current profits. • Breather • N26 O Kalo O Other Investments • Fees/Expenses VALAR I 10 EFTA00810248 High Concentration + Aggressive