EFTA Document EFTA01451591

SOF III - 1081 Southern Financial LLC Section 7: Summary of Terms and Conditions Secondary Opportunities Fund III. LP The Manager Commitments The following summary makes reference to the Manager (as defined below) being authorised by the UK Financial Conduct Authority to the extent required by the EU Alternative Investment Fund Managers Directive and its implementing legislation in the UK (the 'AIFM Authorisation"). Although the Manager has applied for the AIFM Authorisation, as of the