s to SOF LPs • Value investing, bottom-up approach Unique GP-restructuring and spin-off experience • As seller, as buyer. own spin-off 03 Source. Glete . Capital pipraataiy information as at 15 Rhich 2018. r4i.--nber of trane.ecicos Ine.S.eies irpreernails armi splits out transactions vfh;ch have, b

s to SOF LPs • Value investing, bottom-up approach Unique GP-restructuring and spin-off experience • As seller, as buyer. own spin-off 03 Source. Glete . Capital pipraateay information as at 15 R.4aich 2018. Ni.--nber of trane.eacos Inokeies follow-on irpreerneils armi splits out transactions wh;ch h

s to SOF LPs • Value investing, bottom-up approach Unique GP-restructuring and spin-off experience • As seller, as buyer. own spin-off 03 Source. Glete . Capital prortrateay information as at 15 R.4aich 2018. Ni.--nber of trane.eacos Inokeies follow-on irpreerneils armi splits out transactions wh;ch

s to SOF LPs • Value investing, bottom-up approach Unique GP-restructuring and spin-off experience • As seller, as buyer. own spin-off 03 Source. Glete . Capital pipraateay information as at 15 R.4aich 2018. Ni.--nber of trane.ecicos Inokeies follow-on irpreerneils armi splits out transactions wh;ch

s to SOF LPs • Value investing, bottom-up approach Unique GP-restructuring and spin-off experience • As seller, as buyer. own spin-off 03 Source. Glete . Capilal prorotetart information as at 15 Rhich 2018. Ni.--nber of trane.ecicos irereerneils armi splits out transactions vfh;ch have, been atm:1,4