Capter based on Precm benchmark data for the median 1VPI and Net RR echoer+ by buyout funds trx vintages of 1997 to 2017 Average buyout TVPI = 159x Average Net RR x 155% Data as of September 30 2017 For further benonswarlang of Glendower Captai to tuyoul returns. pease refer to Waal Pas, performance is not a

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Capital based on Proem benchmark data for the median 1VPI and Net RR achovod by buyout funds kr vintages et 1997 to 2017 Average buyout TVPI = 159x Average Net RR v 155% Data as of September 30 2017 For further bencnsharleng of Glendower Captal to buyout returns. pease refer to Exhibit 3 Past performance is

Capital based on Prow benchmark data for the median 1VPI and Net RR achieved by buyout lungs for singers et 1997 to 2017 Average buyout TVPI = 159x Average Net RR v 155% Data as of September 30 2017 For further benchmanang a Glendower Captal to tuyoul returns. Orease refer to Exhibit 3 Pau performance is not

wer Capital based on Precm benchmark data fa the median 1VPI and Net RR acheved by buyout funds fix moves of 1997 to 2017 Average buyout TVPI = 159x Average Net RR x 155% Data as of September 30 2017 For further benchmartang of Glendower Can tai to tuyoLt returns. pease refer to Exhibit 3 Past performance is