lYerS and estimates based on Greenhill Secondary Market Trends 8 Outlook January 2018. Cogent Partners Secondary Market Trends 8 Outlook. July 2014. Cogent Partners Secondary Market Vcdate. March 2009. and Dow Jones Private Equity Analyst Gude to the Secondary Market, June 2017 Confidential Private Placement Memorandum 20 CONFIDENTI

analysis and estimates based on Greenhill Secondary Markel Trends 8 Outlook January 2018. Cogent Palmas Secondaq Markel Trends 8 Outlook. July 2014, Cogent Partners Secondary Market Vcdate. Mardi 2009. and Dow Jones Prwite Equity Analyst Gude to the Secondary Market, June 2017 Confidential Prnrato Placement Memorandum 20 CONFIDENTIA