EFTA Document EFTA01390271

Glendower Capital SOF IV, LP. Important Information (2/2) Any forwardiooking ;tate-merits ism cheing wittrsui !imitation, projections of future earnings or yak di, result: or salt:all:ens herein are based coon la trent ;$•:sornsitions, may by siniplifiec and may depaiid opon events outside !lie control of Glendthver or its Other events that were not taken into accoent nay oceor and nay signilicarilly affect tux analy:b herein. Therefore. MaNe; to any assomptior, . may have a material impact ix. any valuations or pitiercticie. Actual results may Therefore ha niatenalli different from any forecast. opinon valsation herein. Prospectiye lg.-Nestor: in tie IVY.: >hcoki not nth' on these tOrwarmfookIng statements in deciding whether try awes! In Sirat Fort. The infonnation tOntamed in the Presentation ens been obtafriec from source:: ositslie of Credit such information is t-illes.ed 10 tie reliable For the purpose:: usei ratin, neither Credit:Su:use, rrsr any or Rs ad-elates or partners, itiembers or employee:, asr,urne any r ponsibility for the act acycf ch irlonnation See the "Notes b.:Investment Performance < ontainirt irriponantinforriation regarding re.rformant.e arc tergelet: ret.,:rns. This Presentatkin vies riot for in part of the basis kir any v.eilfect ea: tureen Gieripyne, or itl atlilete, anz. any atto Re.'ipier:tspf Pa) Preseritatkin slag irot treat this Presentatiori or tax, regulatory, acr.ounting. legal_ investment or any other advice in relatiori to the Recipient of this information are this information shmiel not are cardK4. Fe rerit upon as :air.b The CrrstfiMilL4, <4 this Presentation and partkcation in the Find may be restricted by taw in certain jurisdictions. Penons arliocome into possesulon of (Ks Pre.seniation are required to inform themselves about. are: to onstlye. any such restritliom. No governmental authority has passed on the merits of the offering or interests 0 the Fore or Use adequacy of tise. information °minified herein. Any epresentation to lie el-aire? ia,1; rearul. Prospective irive,ton :rliOLla pay partici:lag attention to the information contained in the offering documents pertaining to certain conflicts of interests and risk factors An invt:Imerit in the foe: is suitable only ior ssiiheticater: ins-t s and rewires the finareial ability and willingness to accept the hk,fk risk.: and lack of liquidity asrociatesi with an investment in the Fund. inve5tors in the Fond mort tie prepared to hear such risls for an incelinite period of titre Statements herein are mace as of January 31. 2018, unless stated otherwise. Important Inforrnetk-ri Ehe Track Re,.cr4 The GP:FrM.4er ire Talar Ipacraqf from Cent he Sara( arid its afliliates ("DeutIche bank, on Aegost I, 20.17 and eitabibned Glendower Capital. LIP an. its affiliates (together, "Glenrowerl as an Independent private .t.cuity Firm owned by its partners Intl ret on secondary transactkin In private rnarkett. The pertomance inforrnation are tra-:k record set out in this Presentation in respect ot the SOF rum:: (Dart the pencv time ram inot ion or the SOF Foreis to rata. ileberag the tune prior to the Catenation of Glennower, wheri the from; were employee( of Ciectscp,.; Bank. in evaluating the tract. leceetl, e..e.ti Recipient Estee that f*t>lo Pirwirrearoli and Charles Smith have been permanent voting nwrnber.: of the sof Funds irwestment committees sireet.ce ires; fa) f hi Cheting, Francesco higanionti ant Acarn Greer have attended as observers the majority of insertmerit committees of the SOF Funds sa'nce inception. they were appointer in Decernbef 2011 durirat the SOF it investirent pericv.; as sce.ing merribers on a ra.t.atilaral binis and here been permanent soling members since January 2013; (iii) oder employees of Deutsche bank who were not part of the SOF investment team anc that have not. joined Glencower were involved at different times on I he investment corr.:mattes of the SOF arid Gni, ineestinentdecirlorernaking process in re:-.;.4(:t.c4 the investments ince try the. SOF F..ncs and (cro) ha r.onnecoon with the ifly4rrtalirtaS compitirkg the tract record, the riterv.ower Insaistrrent professionals were part .sf a larger voile within Lentcerie Nara. The owestment performance Mt:Juliet herein it intended colety to provide Recipients wee information atmnt the Giereower SOF Tearn'c owtstinent etpenence. The perlinrnance information pithicee herein has been prepared by Deutsche Alternative &.,et Management (Global) Limited COAAMIGit"lane provided to Glendower are relates to the SOF Fore.; and the related ireivretval under: ins transactor . it' respect ail width the Gameower SOF Tirane were ilesk*Mira thee capacity as per/Jerk, rtrarager arid/or insestiment committee members while employed at Decitcler Hank. Glentowei takes responsibiaty for Its use -.4 the perfornonce informs:aim and its compliar.:e with all a CipliCiltile taws, reiniations, rules an.: goinellises, inducing, but not renited to. the Investment Advisers AC et Icali). as aPerrrfree, and is particular. Rule 204.:: therenreer: and DAAlsafGit take:: ras rest-snsibeity for the iice of sucri Pe fin(M3n.:e inronr,stlisn by Grersikrwer Notes to In Performance investment r:F.Ve::: OtherW4:;f: net 45. ;:re as et September 30. 2017, are r.:0;A:rtas, are: aie en!,. Itenen, ::rile;;: ottienv,se indicated, -Gross IRK' am 'Net iRR" shalt mean an aggregate, conwet no, annual gross or net, as applicable, internal rate of return on investments, based tin daily cash aftee Cal0. Lilian, are pre:en:cc baled mg actual cash flow" zsrte from limited partner:. All IRRn ere presented on a -Intr:s` basis unless otherwise stated 0 e, hey do out reflect de pm or ity profit share carded interest, taxes tramaction costs In corineeton with the disposition of unrealned ineermremis anri attesr expenses that are borne by investors in the applicable funs. which v.4 ret.,.ce returns arid. in the aggravate. are espected re i.e Substantial) Net IRA kt presentet: after Kierh.cting all priority plOfit :thaut carrlen interest, tweet.. transaction costs Inc ...thee fee:: an. expenses (other than ;axe; dome or to be r),-,n.,e by inyeatr.o.;, indieing as a nvia la of an ewestors donk. ile). Further, note that l;‘: catc,,i?tirez mfAbocokigy aCo e."C to Cak,ilat-el4K 1141 in respeu of the SOF rinds is impacted by the sor ire of tahscription line facilities. All perfooriarsce timbers induce recycled capital unless otherwise erphsill? ',loiterer. Dist, ibetioni to Paid-in Capital Poem represents el4leg.te ;.stributioire: to insestr4S in the SOF Pads realise to aggregate capital contributions to the SOF Fans. Residual Value to Pairj-in Capital ("net") represents the value of the SOF Funds investor,' intersect held within the Xtl, Funds relative to aggregate capital contributions tr, t Fend:, net et to SOF F..rret interest. rrian4ement tees and other expense::. Total Value to Paid-In Capital (- NW): TePi =OW + RVPt Ist.ster is oeficaril as the amount of money returned divided by the arri.:amt Invested ror that partkurar investment Gross multiple represents Total Valle as a rrinitile oi capital inuestim by the SOF Funds Net lung data :net etc.i net ineronnance data refle:ts anutents vet of the sor f catneo interest. management fees ant: otherelven:es Valuation:. Valuation!: of unrealh:tii nwitstments are generally bate( •sti a good faith aro rettonable ceterrnination by the genial partner of the relevant ,n ,.cement it a'; Any such valuation of inrea.riteri investment will he based cri assumptions that such general partner helletec are reasonabte under the Cittull'ittailteS. the actual realized return: tin unrealizec investments will depend on. dirions othglr arAVS. rytt:re pperenN sys,lt, the value of the assets ard ifsaiet con.oiriois at the riffle of 5sposatais arty oflater; tranSattiOlithis and the timing and manner of all of which Pray Oriel' horn the asstarVtions on which the valuation.: user; in the pilaf performance dila contairec herein are bared Au:cornea/3y. the actual realized return: generated by these unrealized investments may differ mat rally from the returns livicated herein:. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0094718 CONFIDENTIAL SDNY_GM_00240902 EFTA01390271