RS SHOULD READ THIS MEMORANDUM IN ITS ENTIRETY AND ARE URGED TO CONSULT THEIR PROFESSIONAL ADVISERS BEFORE DECIDING WHETHER TO INVEST IN THE FUND. Conlidenhal Private Placement Memorandum 65 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038463 CONFIDENTIAL SDNY_GM_00184647 EFTA01353892

All applicable provisions of the Securities Market Law must be complied with in respect of any sale, offer or distribution of, or intermediation in Conlidenhal Private Placement Memorandum 93 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038491 CONFIDENTIAL SDNY GM_00184875 EFTA01353912

ent from those described above. Each Investor is urged to consult its own tax adviser regarding an investment in an alternative investment vehicle Conlidenhal Private Placement Memorandum 85 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038483 CONFIDENTIAL SDNY_GM_00184667 EFTA01353906

ocession it may receive for distribution. Upon request, the recipient must disclose the actual amount of retrocession received for distributing the Conlidenhal Private Placement Memorandum 96 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038494 CONFIDENTIAL SDNY GM_00184878 EFTA01353915

ill be no public market for the Interests, and there is no obligation on the part of any person to register the Interests under the Securities Act. Conlidenhal Private Placement Memorandum 98 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038496 CONFIDENTIAL SDNY GM_00184680 EFTA01353917

tlook. July 2014, Cogent Partners Secondary Market Vpdate. Mardi 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Conlidenhal Private Placement Memorandum 20 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038850 CONFIDENTIAL SDNY_GM_00185034 EFTA01354256

Retail Client' for the purposes of, and as defined in. the DFSA Rulebook, or (ii) a Professional Client not able to make such minimum subscription. Conlidenhal Private Placement Memorandum 91 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038921 CONFIDENTIAL SONY GM_00185105 EFTA01354327

stment Management Agreement The investment management agreement relating to the appointment of the Manager as the investment manager of the Fund. Conlidenhal Private Placement Memorandum 104 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038934 CONFIDENTIAL SDNY_GM_00185118 EFTA01354340

tment decision prospective must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. Conlidenhal Private Placement Memorandum 97 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038927 CONFIDENTIAL SONY GM_00185111 EFTA01354333

ill be no public market for the Interests, and there is no obligation on the part of any person to register the Interests under the Securities Act. Conlidenhal Private Placement Memorandum 98 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038928 CONFIDENTIAL SONY GM_00185112 EFTA01354334

All applicable provisions of the Securities Market Law must be complied with in respect of any sale, offer or distribution of, or intermediation in Conlidenhal Private Placement Memorandum 93 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038923 CONFIDENTIAL SONY GM_00185107 EFTA01354329

tlook. July 2014, Cogent Partners Secondary Market Vpdate. Mardi 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Conlidenhal Private Placement Memorandum 20 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039282 CONFIDENTIAL SDNY_GM_00185466 EFTA01354686

All applicable provisions of the Securities Market Law must be complied with in respect of any sale, offer or distribution of, or intermediation in Conlidenhal Private Placement Memorandum 93 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039355 CONFIDENTIAL SDNY GM_00185539 EFTA01354757

Retail Client' for the purposes of, and as defined in. the DFSA Rulebook, or (ii) a Professional Client not able to make such minimum subscription. Conlidenhal Private Placement Memorandum 91 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039353 CONFIDENTIAL SDNY GM_00185537 EFTA01354755

ocession it may receive for distribution. Upon request, the recipient must disclose the actual amount of retrocession received for distributing the Conlidenhal Private Placement Memorandum 96 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0040234 CONFIDENTIAL SDNY GM_00186418 EFTA01355244

tment decision prospective must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. Conlidenhal Private Placement Memorandum 97 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0040667 CONFIDENTIAL SDNY GM_00166851 EFTA01355483

utlook. July 2014, Cogent Partners Secondary Market update. March 2009. and Dow Jones Povate Equity Analyst Gude to the Secondary Market, June 2017 Conlidenhal Private Placement Memorandum 20 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055318 CONFIDENTIAL SDNY_GM_00201502 EFTA01364770

All applicable provisions of the Securities Market Law must be complied with in respect of any sale, offer or distribution of, or intermediation in Conlidenhal Private Placement Memorandum 93 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055391 CONFIDENTIAL SONY GM_00201575 EFTA01364842

All applicable provisions of the Securities Market Law must be complied with in respect of any sale, offer or distribution of, or intermediation in Conlidenhal Private Placement Memorandum 93 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0082695 CONFIDENTIAL SONY GM_00228879 EFTA01383081

e LEA standard securities legend) as well as to "semi-professional investors' but not to 'private investors" (each as defined in the German Capital Conlidenhal Private Placement Memorandum 88 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038486 CONFIDENTIAL SDNY GM_00184670 EFTA01353908