EFTA Document EFTA01353969

GLENDOWER ACCESS SECONDARY °WORT UN! 1IES IV (U.S.). L.P. IMPORTANT INFORMATION CONTINUED Presertemon Further. :Ma in the Access Fun" cral direr Terre IC,Ver returns than matins critnitteng Orris to the Underlying Fists as a result of the esker -el fees and copenes assocrecl witn an 'mestere in the Access Fred riot fird careened neren Mould bederma to le orriction or project:xi of future peditreeme of the Underlyirra Fund or the Access Fund NOTE: Historical returns presented herein do nod include any fees and ripen:sea that would be eedOCitted withal investment in the Acres Fund. which would hove the effect of lowering the net returns experienced by an Investor. Bench-harks ard Nereid' irides are shown F;ttrath* outisoles only aril ate prandsked far the purpose of making dermal market data available as a port of ro(ererce orig. sru turieirwaga art financial may hot bi 0,1,444 rat id, eel ewassiwri. may be unmanaged. assume dime seinen of trna)ine. C.) not reflect the impact of ally ;redid ccenniestris and enstn. menngerment Cw peen). n nice fees. and have limentons %Men sired for comparison or other ragilO5/1 because they, among Cam reasons. may have didererr trading strategy. waSetnly cremator c11 mouth & renecteintios resurnentabor is made tnst mi tneechnsark or eclea nen daemon-re ineasue for comµeisin. Akerriatfie rriermonts often are sordatne rid ;mitre a high degree of rid, treston court lase all or e substentol amount of their treatment. Agar eerie :vestments are actable orgy for Mode. dint investors who alll willing to forgo haughty next ran capital ce ink for an indolence Dried of lime They may be higly illiceef ant can reap: in 'onta'tre and other spetviene DiaCtiCeS that May increase the VCCobi:ty and ':5? ?MS. fatarlataart !fritterer' ," ricscally hem M ird fees Mr, beirtione inn-meets. investors snarled carefully renew anti consider DOteriaal inks before inve5ting Contain ot thee. nil's may include but are rat Ihmhted to • Lost of near, I.itStanbal Dorton of thrt mem melt can to iihnknging_ SPOlt-lelling, x neer speculate prix trek • Lack of ligudty that there may ben" secondary wider for a hand • Voletility acetate. • Restrictions on transferred intecrite sis a said • Potential its:k fA dirersiliCatkan and raiding nigher nsk Cke to Oorcenbert son of beard OuthatilY wren a sung? enf•naa is kthige-3; AbseaCe of infrmilatinri *WOWS ValiatiOm int poCing: • Comdr to,, structure-sand drays in 'or reported': • Less rechitetkm and !with, fees than mutual funds: end • R sks associated with nie ograbons. pert cruel end prorates of the mere!. Purchaser: of Interests will be tinged garter: in the Access Fund and will not be limited peg Ur: of the Underlying Fund wet her no direct interest in the Underlying Find wet new. no ‘.Oting rights in the Undid Nine Funded wit have sts.rsrgc itahele ejahlt the IA-deifying Fund or theigemeral Partner✓ Manager of Lae Underlying Roder Mee respective offs:ed. directors. members, Panoi05. sherehoickes or employees. auras or affiliates to and offices drectar, member, partner, strettolder. fenagree w agent Of any etch athlete) In. offering ist rmgefrt n not. air sande not be considered an off (*nog of Inwood panne meters in inn Uncle, tang Furwi. Morc.wer. none at Me Amens Foul. the General Partner of the Access Fund Or any of new remora affiliates ters 114 night to pertscrate in the control, management Cr ostrattiris of the delefferd Furd rtc haS ar t chew de eve the menewneni M vie mirror.; gird eon-. the Access Frei art me tench lying Funo Impose artninistratie or menegarrent itptc. cust,x1,,s! te:,th,flong andother sente fees, bodement° seri:dem ender's, meanies that will reduce returns. Returns <oft:trod permed r the Access Fund will be tower men 0,74.11 Main a . ,TC.t nennitnt in the Undecided Fund, !Comte Athisors. LLE. a eraclidy of institutional Crated Network ;ti/bia iCarmai Neter Id is an irrentreent attend reentered with tee ti.S. Senior 'es and Eccisarge cc anti .4% ('SEC') The reef Motions and a'acahkishioi ahem tm rd way imply that Me SEC hal endorsed he *Men. greet rt or inviter discussed refer Acklitteel Information d athletes upon request iCapital. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038561 CONFIDENTIAL SDNY_GM_00184745 EFTA01353969