analysis and estimates based on Greenhill Secondary Widen Trends 8 Outlook January 2018. Cogent P761701a Sewn:WY Madre Trends 8 Outlook. July 2014, Cogent Partners Secondary Market update. March 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prnrato Placement Memorandum 20 CON

analysis and estimates based on Greenhill Secondary Widen Trends 8 Outlook January 2018. Cogent Palmas Secondaq Market Trends 8 Outlook. July 2014, Cogent Partners Secondary Market Update. Mardi 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prato Placement Memorandum 20 CONFI

analysis and estimates based on Greenhill Secondary Market Trends 8 Outlook January 2018. Cogent Fanners Sewn:WY Market Trends 8 Outlook. 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 CONFI

nalYers and estimates based on Greenhill Secondary Market Trends 8 Outlook January 2018. Cogent Partners Sewn:WY Market Trends 8 Outlook. July 2014, Cogent Partners Secondary Market update. March 2009. and Dow Jones Povate Equity Analyst Gude to the Secondary Market, June 2017 Confidential Private Placement Memorandum 20 CONF

inn, and estimates based on G10071h21 Secondary Market Trends 8 Cyllook January 2018. Cogent Partners Secondary Market Trends 8 Outlook. July 2014. Cogent Partners Secondary Market Update. Mardi 2009. and Dow Jones Pnvate Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prnrato Placement Memorandum 20 CONF

analysis and estimates based on Greenhill Secondary Market Trends 8 Outlook January 2018. Cogent Fanners Sewn:WY Market Trends 8 Outlook. 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 CONFI

0084'06*nd estimates based on Greenhill Secondary Market Trends 8 Outlook January 2018. Cogent Panna‘ Sewn:Jay/ Markel Trends 8 Outlook. July 2014, Cogent Partners Secondary Market Update. Mardi 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prnrate Placement Memorandum 20 CON

alYers and estimates based on Greenhill Secondary Merkel Trends 8 Outlook January 2018. Cogent P301731716 Sewn:WY Madre Trends 8 Outlook. July 2014, Cogent Partners Secondary Market update. March 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prnrato Placement Memorandum 20 CON

alysis and estimates based on Greenhill Secondary Markel Trends 8 Outlook January 2018. Cogent Fanners Secondary Market Trends 8 Outlook. July 2014, Cogent Partners Secondary Market Update. Mardi 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prnrato Placement Memorandum 20 CON

1analYell and estimates based on Greenhill Secondary Markel Trends 8 Outlook January 2018. Cogent Fannin Sewn:WY Market Trends 8 Outlook. July 2014, Cogent Partners Secondary Market Update. March 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prnrate Placement Memorandum 20 CON