y& Venture Captal Roped Source. Greenhll Secondary Prang Trends 8 Analyse, January 2018. Greenhill Secondary Poona Trends 8 Analyses. January 2018 Glendower Captal analysts based en Greenhill Secondary Market Trends & Outlook January 2018. Greened GP Solutexes Discussion Matenals. May 2017, and Dow Jones Privat

pricing data is as of the Record Date,56 and does not factor in transaction structuring. 2018 Preen Global Private Equity 8 Venture Garatal Peeran Glendower Captal based on 2018 Preen Global Prarate Equity 8 Venture Capital Report. GreenM Secondary Market Trends 8 outlook. January 2018, and Cow Jones Private Eq

uyout 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 not a peocicil of the future performance of r -,F SOF D SOF II or SOF Ill but is inc

pricing data is as of the Record Date,56 and does not factor in transaction structuring. 2018 Prehn Global Private Equity a Venture Gatatal Pearan Glendower Captal based on 2018 Preqin Global Prwate Equity 8 Venture Capital Report. GreenM Secondary Market Trends It ouecok. January 2018, and Dow Jones Private Eq