GL0US113 Cliff IIlig Scotian 6: Summery of Terms end Conditions Glendower Capital Secondary Opportunities Fund IV. LP Feeder Fund's Invested Capital"), and (iii) for

GL0US113 Cliff IIlig SOF Ill Portfolio - Sponsor exposure 28 GPs listed below represent ca. 90% of SOF III current exposure Other e HIGHSTAR d CA.P:TAL ()NMI, ANE P

GL0US113 Cliff IIlig SOF Remaining portfolio construction by FMV1 as of September 30, 2017 Overview Vintage 2006 Fund size US$565m Invested capital 549m Capital