ben landed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' important Infonnation on the Track Record.' 'Important Information for Recipients in Certain Jurisdictions' and 'Notes to Invest

o that g *di be aitaiistge or. aftec furt1wi due diligence., prove sultet,» for :1‘.0F This. slide hauld be mod and tevle-wc-d in conjunetion with the 'Important Information and "Important Performance Inforrnabon and • Notes to Investment Pene/mens° sections. Glendower Capita! STRICTLY CONFIDENTIAL 41 C0NFIDENTIA

been handed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' 'Important Infonnation on the Track Record.' 'Important Informants') for Recipients in Certain Jurisdictions' and 'Notes to Inve

is chair le based on the waialteg fevers of SOF, SOF 0. SOF II and SOF In as vi September 3D. 2017 and stculd be read and wenn/ad in con)tettion with the 'Important Information" and Wes to investinent Pertramance Int rnation' sections of this 40cOnlielt (31 Past performance is rat a faerhotion of the future I>0110fOtert6 e

ttfcCas that g al be avaliatgeos. atlet furtne' due diligence, prove sultet.» for SOF This. Blide hauld be temd and tettiewc-d in conjunstion with the 'Important Information and "Important Perframance Intorrnabon' and • Notes to Investment nedormance sections. Glendower Capital STRICTLY CONFIDENTIAL CONFIDENTIAL -

been handed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' 'Important Infonnation on the Track Record.' 'Important Informants') for Recipients in Certain Jurisdictions' and 'Notes to Inve

rt its based on the watched results of SOF, SOF 0, -SOF II and SOF !C as vi September :SD. 2017 and should be read and renewed in L-onjteriction with the 'Important Information" and "Naas to irviestinent Performance Int rnabon' sections of this dut meent (31 Paal peeks mance is rat a prediction of the future perlornmeeté o

been handed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' 'Important Infonnation on the Track Record.' 'Important Informants') for Recipients in Certain Jurisdictions' and 'Notes to Inve

been handed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' important Information on the Track Record.' 'Important Information for Recipients in Certain Jurisdictions' and 'Notes to Invest

chart ie based an the uraudted results of SOF, SOF 0. SOF II and SOF lit as crt September :SD. 2017 and &'culd be read and renewed in conµ^xlion with the 'Important Information" and Nals to investinent Performance Int rnat-on' sections of this 40c0nlielt (31 Past peeks mars e is rat a prediction of the future I>0110fOtert6

been handed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' important Information on the Track Record.' 'Important Information for Recipients in Certain Jurisdictions' and 'Notes to Invest

esented in this chair is based on the results of SOF, SOF 0. SOF II and SOF c,4 September 3D. 2017 and st d be read and renewed in conjtettion with the 'Important Information" so* Nalii investinent Perframance Int rnation' sections of Otis tiOciallignt (31 Past performance is iv.* a perhotion of the future 1:4100f012t41

l ci ilitE6 results . and :hefe can be no assurance that the fund will achieve cuinpr.sable results 'DIN page should be reviewed in conjunction with the 'Important Information" and 'Notes to Irrrestment Ferforrnence' sections of this Presentation Consumer Healthcare I* Industrials co Real Estate Financial Services B

been handed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' 'Important Infonnation on the Track Record.' 'Important Information for Recipients in Certain Jurisdictions' and 'Notes to Inves

been handed out. It is being provided to you upon your request for information concerning the Fund Strictly not tor redistribution. Please refer to the 'Important Information,' 'Key Definitions.' important Infonnation on the Track Record.' 'Important Information for Recipients in Certain Jurisdictions' and 'Notes to Invest

ator 4.9 ilitE6 results and theft' can be no assurance that Uw kind snit nhievo ountpseable results yin page should be reviewed in conjunction with the 'Important Information" and 'Notes to Irrrestment Performance' sections of this Presentation Consumer Healthcare I* Industrials co Real Estate Financial Services Bu