EFTA Document EFTA01383142

GLDUS238 SOUTHERN FINANCIAL LLC Established track record SOF Funds as of September 30, 2017A 2 3 Fund SOF Vintage 2006 (development stage) (harvesting) SOF D 2010 (harvesting) SOF II 2011 (maturing) SOF III 2014 (early stage) Total Fund size US$565m US$147m US$614m US$1,654m US$2,980m Transactions, funds, companies # 21 / 154 / 1,774 1 / 28 / 193 29 / 75 / 737 35 / 149 / 2,837 Gross multiple 2.1x 3.0x 1.7x 1.4x 1.6x Gross IRR 29% 37% 23% 31% 28% Net multiple (TVPI4) 1.8x 2.3x 1.5x 1.3x 1.5x Net distributed (DPI4) 1.8x 2.1x 1.2x 0.3x 0.9x Net IRR 22% 29% 20% 30% 23% Peak net contributed capital 26% 51% 42% 44% (It Performance figures 113Ve been calculated based On the unaudted performance results of SOF. SOF D. SOF It and SOF III as of September 30 2017 and slxned he mad and ieviewixl in conjunction irntli the "Inipodart information- and -Notes to Performance Information" sections of the presentation. Gross returns are press of fees. expenses arc carried ≥:terest. Net performance reflects amounts net of expenses tees arlo carried interest. Investors should consult with their own advisers as to the appropriate factors to be considerecrin evaluating this information. Past pedomnance is not a prediction of the futtve performance of SOF, SOF ID SOF 04 SOF III but rs ittekelett to demonstrate the track record of the Glendower StfF Team and [Mere can be no a.ssurante that SOF IV eat achx.nria comparebp! reit;hits or that arty target rttatilla Wit atiliteAttl See 'important information on the Track Record' sections of this Presentation. (2; SOF D B a Euro denominated bent US$ V2kifirr, have been con:Trawl at September 30. 2317 EURillSt rate ofoft 1322. (3) Both SOF and SOF I) are invested in the DaVinci Portfolio - a well diversified portfolio of n i)liVate equity funds purchased through an SPV. providing exposure to buyout. special situations, venture capital and real estate stratiqr.rs ≥: North Amer .=a. Europe and Asia The number or bairn arid companies IS a Peat sonata and Wrraa the figlfittilte Otattr r It deal at citisina text may Ettek4ir Wine double courting. M Total Value to Paid in Capital; DPI rt Distributiore to Paid in Capital: IRR iv; Internal Rate of Return. Glendower Capital STRICTLY CONFIDENTIAL 16 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0082792 CONFIDENTIAL SDNY_GM_00228976 EFTA01383142