ey Terms This is a summary of terms only. This summary of the Access Funds terms is qualified in its entirety by the Private Placement Memorandum of the Access Fund, as may be amended and restated or supplemented from time to time, and the Amended and Restated Limited Partnership Agreement of the Access Fund. F

pital 12 50% after an 800% preferred return with a 100% GP catch-up and full clawback Higher of (a) Three-month USD LIBOR plus 2 00% and (b) 800% Access Fund During Investment 2 Years Following L Commitment Period( Investment Penod5 ----- ---- --- <53 million 53 - <S5 million a 75% L S5 intlIton

GLDUS133 Georgetown University Endowment Fund, which together with any expenses of the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expe

f the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expenses or future capital calls by the Underlying Fund through the distributions received from the Underlying Fund (in such case the Limited Part

GLIDUS726 Gerald Ford Fund, which together with any expenses of the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expe

f the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expenses or future capital calls by the Underlying Fund through the distributions received from the Underlying Fund (in such case the Limited Part

pital 12 50% after an 800% preferred return with a 100% GP catch-up and full clawback Higher of (a) Three-month USD LIBOR plus 2 00% and (b) 800% Access Fund During Investment 2 Years Following L Commitment Period( Investment Periods ---- ---- --- <83 million 53 - <55 million a 75% L 55 intlIton

ey Terms This is a summary of terms only. This summary of the Access Funds terms is qualified in its entirety by the Private Placement Memorandum of the Access Fund, as may be amended and restated or supplemented from time to time, and the Amended and Restated Limited Partnership Agreement of the Access Fund. F

ey Terms This is a summary of terms only. This summary of the Access Funds terms is qualified in its entirety by the Private Placement Memorandum of the Access Fund, as may be amended and restated or supplemented from time to time, and the Amended and Restated Limited Partnership Agreement of the Access Fund. F

pital 12 50% after an 800% preferred return with a 100% GP catch-up and full clawback Higher of (a) Three-month USD LIBOR plus 2 00% and (b) 800% Access Fund During Investment 2 Years Following L Commitment Renate Investment Penod5 <53 million 53 - <$5 million a 75% L 55 intlIton+t- 1 00% 025% 0

GLDUS238 SOUTHERN FINANCIAL LLC Fund, which together with any expenses of the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expe

f the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expenses or future capital calls by the Underlying Fund through the distributions received from the Underlying Fund (in such case the Limited Part

pital 12 50% after an 800% preferred return with a 100% GP catch-up and full clawback Higher of (a) Three-month USD LIBOR plus 2 00% and (b) 800% Access Fund During Investment 2 Years Following L Commitment Period( Investment Penod5 -------- ----- --- <53 million 53 - <55 million a 75% L 55 int

ey Terms This is a summary of terms only. This summary of the Access Funds terms is qualified in its entirety by the Private Placement Memorandum of the Access Fund, as may be amended and restated or supplemented from time to time, and the Amended and Restated Limited Partnership Agreement of the Access Fund. F

pital 12 50% after an 800% preferred return with a 100% GP catch-up and full clawback Higher of (a) Three-month USD LIBOR plus 2 00% and (b) 800% Access Fund During Investment 2 Years Following L Commitment Period( Investment Penod5 ----- ---- --- <83 million 53 - <S5 million a 75% L 55 intlIton

ey Terms This is a summary of terms only. This summary of the Access Funds terms is qualified in its entirety by the Private Placement Memorandum of the Access Fund, as may be amended and restated or supplemented from time to time, and the Amended and Restated Limited Partnership Agreement of the Access Fund. F

pital 12 50% after an 800% preferred return with a 100% GP catch-up and full clawback Higher of (a) Three-month USD LIBOR plus 2 00% and (b) 800% Access Fund During Investment 2 Years Following L Commitment Period" Investment Penod5 ----- ---- --- <53 million 53 - <$5 million a 75% L 55 intlIto

ey Terms This is a summary of terms only. This summary of the Access Funds terms is qualified in its entirety by the Private Placement Memorandum of the Access Fund, as may be amended and restated or supplemented from time to time, and the Amended and Restated Limited Partnership Agreement of the Access Fund. F

t to be a complete listing of all potential tax risks inherent in purchasing or holding an interest in the Access Fund. Prospective investors in the Access Fund are urged to consult their own tax advisors. CERTAIN REGULATORY MATTERS Securities Act of 1933. The offer and sale of the Interests will not be re

to predict whether, or to what extent, any changes in the Code or interpretations thereof will occur. Prospective Limited Partners should note that the Access Fund will not undertake to advise Limited Partners of any legislative or other developments. No rulings have been or will be requested from the IRS. Fur

to predict whether, or to what extent, any changes in the Code or interpretations thereof will occur. Prospective Limited Partners should note that the Access Fund will not undertake to advise Limited Partners of any legislative or other developments. No rulings have been or will be requested from the IRS. Fur

t to be a complete listing of all potential tax risks inherent in purchasing or holding an interest in the Access Fund. Prospective investors in the Access Fund are urged to consult their own tax advisors. CERTAIN REGULATORY MATTERS Securities Act of 1933. The offer and sale of the Interests will not be re

GLDUS183 Dimension Capital Management Fund, which together with any expenses of the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expe

f the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expenses or future capital calls by the Underlying Fund through the distributions received from the Underlying Fund (in such case the Limited Part

f the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expenses or future capital calls by the Underlying Fund through the distributions received from the Underlying Fund (in such case the Limited Part

GLDUS238 SOUTHERN FINANCIAL LLC Fund, which together with any expenses of the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expe

to predict whether, or to what extent, any changes in the Code or interpretations thereof will occur. Prospective Limited Partners should note that the Access Fund will not undertake to advise Limited Partners of any legislative or other developments. No rulings have been or will be requested from the IRS. Fur

t to be a complete listing of all potential tax risks inherent in purchasing or holding an interest in the Access Fund. Prospective investors in the Access Fund are urged to consult their own tax advisors. CERTAIN REGULATORY MATTERS Securities Act of 1933. The offer and sale of the Interests will not be re

to predict whether, or to what extent, any changes in the Code or interpretations thereof will occur. Prospective Limited Partners should note that the Access Fund will not undertake to advise Limited Partners of any legislative or other developments. No rulings have been or will be requested from the IRS. Fur

t to be a complete listing of all potential tax risks inherent in purchasing or holding an interest in the Access Fund. Prospective investors in the Access Fund are urged to consult their own tax advisors. CERTAIN REGULATORY MATTERS Securities Act of 1933. The offer and sale of the Interests will not be re

han mutual funds: end • R sks associated with nie ograbons. pert cruel end prorates of the mere!. Purchaser: of Interests will be tinged garter: in the Access Fund and will not be limited peg Ur: of the Underlying Fund wet her no direct interest in the Underlying Find wet new. no ‘.Oting rights in the Undid Nin

'mestere in the Access Fred riot fird careened neren Mould bederma to le orriction or project:xi of future peditreeme of the Underlyirra Fund or the Access Fund NOTE: Historical returns presented herein do nod include any fees and ripen:sea that would be eedOCitted withal investment in the Acres Fund. which

GLOUS143 Henry Nicholas Fund, which together with any expenses of the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expe

f the Access Fund, is greater than the total amount of the Limited Partners' Subscriptions to the Access Fund) the General Partner may need to fund Access Fund expenses or future capital calls by the Underlying Fund through the distributions received from the Underlying Fund (in such case the Limited Part

to predict whether, or to what extent, any changes in the Code or interpretations thereof will occur. Prospective Limited Partners should note that the Access Fund will not undertake to advise Limited Partners of any legislative or other developments. No rulings have been or will be requested from the IRS. Fur

t to be a complete listing of all potential tax risks inherent in purchasing or holding an interest in the Access Fund. Prospective investors in the Access Fund are urged to consult their own tax advisors. CERTAIN REGULATORY MATTERS Securities Act of 1933. The offer and sale of the Interests will not be re

to predict whether, or to what extent, any changes in the Code or interpretations thereof will occur. Prospective Limited Partners should note that the Access Fund will not undertake to advise Limited Partners of any legislative or other developments. No rulings have been or will be requested from the IRS. Fur

t to be a complete listing of all potential tax risks inherent in purchasing or holding an interest in the Access Fund. Prospective investors in the Access Fund are urged to consult their own tax advisors. CERTAIN REGULATORY MATTERS Securities Act of 1933. The offer and sale of the Interests will not be re

t to be a complete listing of all potential tax risks inherent in purchasing or holding an interest in the Access Fund. Prospective investors in the Access Fund are urged to consult their own tax advisors. CERTAIN REGULATORY MATTERS Securities Act of 1933. The offer and sale of the Interests will not be re

to predict whether, or to what extent, any changes in the Code or interpretations thereof will occur. Prospective Limited Partners should note that the Access Fund will not undertake to advise Limited Partners of any legislative or other developments. No rulings have been or will be requested from the IRS. Fur