pital in the SOF Funds as of September 30. 201T Past polka* construdon d the SOF Funds e not a prediction of the Funds portfolo conseuction Source. Glendower Capears proprietary informant/1 Settee Glendower Caesars proprietary inionnaben Confidential Amato Placement Memorandum 4 CONFIDENTIAL - PURSUANT TO FED.

al in the SOF Funds as of September 30. 201T Past polka* constructon d the SOF Funds e not a prediction of the Funds port, olo construction Source. Glendower Capears proprietary inlommOon Source Glendower Capons proprietary mionnaban Confidential Prnrato Placement Memorandum CONFIDENTIAL - PURSUANT TO FED. R. C

ital in the SOF Funds as or September 30. 2017 Past podia* construdon d the SOF Funds e not a prediction of the Funds port, olo conseuction Source. Glendower Capears proprietary inlormabcn Source Glendower Captors proprietary inionnabcn Confidential Arcuate Placement Memorandum 4 CONFIDENTIAL - PURSUANT TO FED

ptor m the SOF Funds as or September 30. 2O1T Past portico* construdon d the SOF Funds e not a prediction of the Funds portfolo consUuction Source. Glendower Capears proprietary 'Memento Source Glendower Capears proprietary inionnancn Confidential Pintate Placement Memorandum CONFIDENTIAL - PURSUANT TO FED. R.