EFTA Document EFTA01392544

GLENDOWER ACCESS SECONDARY ()WORT UNI 11ES IV (U.S.). L.P. ., IMPORTANT INFORMATION CONTINUED Prenertemon Puree:. :Ma in the Access Fund will truer ierce IC,Ver returns than minters cammittinuoirectio the Underlying' Fins as a result of the es:dere' fees and co penses assocreci wan an 'mestere in the Access Find riot tire contaned reran Mould be detract to le priction or projection of future pedrereame of the Underlyina Fund or the Access Fund NOTE: Historical returns presented herded* nod include any fees and eopeerres that would be deOdelca withal investment in the Aeons Fund. which would have the effect of lowering the net returns exprienced by an Investor. Bench-harks ard hernial Irvaces are shown for F;ttrath* outiather only aril ate provided for the our pose of making emeral market data available as a nom of ro(ererce oniv. sme paydepto art f wg,tx al tatjej may hot 0,1,444 tor ,d; act eiyagrwed. may be unnanatted. ruins irivae seinen of trna)ine. C.) not reflect the impact of any ;melee crenate:sans and enstn. menngerment Cw peen). n nice fear. end have limtntions wan tried for corripernon or other ragilO5/1 because they, among Chef renscos may have difererc tredve strategy. waSetnly cremator c11 risamialcharecurstics terlieraentaticm is made tnst ai benchmark of eclea nen cowman:ft intern for umµeisin. akvrietrve inverdments often are sordatthe xd rclurn a Pen dant of rub imeston could lase all or e substantial amount of their meatment Aftermaths in estments are de tote orgy for dictate. are- Imontots who alll willing to forgo haughty next ran capital co risk cur an indolent' plead of rime They may be body illichaf and can reap: in awn xie and other spettliathe DiaCtiCeS that ray increase the VCCobi:ty and ..5? ?MS. fatarlataart imestmeres tratacally It 4a te ne fees then treirtiona investment: Invests's Mixed carefully renew ant corns:Jet DOteriaal ruks before inve5ting Contain OI thee. nil's may ',elude but are rat to • Lost of nary I.itStanbal Dorton of thrt owed mail can to iihnknging_ maw speculate. mixtrots • Lea of Itudty an that tame may bent. secondary made for a had; • Volatility ofretunts, • Reetrictions cH transfethe intereets nn a lsaid • Potential Inds of dirersiliCatkan and ntautting nerve nsk Oa to Oorcenbert an of beagle euff•HrlY wren a bung? enf•naa is kthige-3; AbseaCe O4 infronistinfr *WOWS ValiatiOm inn poCing: • Corot tax structure-sand drays in tam rewortire: • Less regatation and !with, fees than mutual funds: end • R sks associated wits risee optrabons. paint. s.d prorates of the mere!. Purchaser: of Interests will be limited porter: in the Access Fund and will not be limited pa trod: of the Underlying Fund, will have no direct integer in the Underlyina Fend will new no ‘.oting rights a the Una« bring Frundand we Nave Ho Remindsr encase ejahlt the teLleilying Fund or Mei:antral Partner✓ Manager of tne Underlying Fender eon respective off xers.elifectort members, Panoi05. shareholckes or employers/2i. auras or affiliates tor ern officio. drectOe member. oar Mee strettolder. fenagree w agent Of any such &Hosts* Tee offering uf rmgefrt n not. aim shatio not be considered an off (*nog of hewed DN!r4r marred in inn Uncle, tang Furwi. Mot emu meteor the Amens Foul. the General Partner of the Access Fund Or any of tree respective affiliates hes 114 nigh' to participate in the control, management Cr Prearters of the Urcieflionti Ford oo 'HS MY pulp son .nee the mernawned ci vie urdertara gird eon-. the Access Fuel rod era Uncle lying Funo impose administetort or reenedarrene itptc. cust,x1,,sl te:,th,flong andother saute fan, performance ollocebru andother meanies that will reduce returns. Returns to limited pertrar a the Access Fund will be awe than 0,74.11 from a . ,TC.t nennitnt in the Ulmer:line Fund, !Crate Ado:sort LLE. a nuerclidy of institutional Capital Network ;ti/bia lCaptai Hemet kJ, is an immanent Sono registated with Ala U.S. Sectiories and Exclurre cc mm Oh ('SEC') The regi Melina and a'acahkishioi elsom in no way imply met ire SEC het reread he *Nes. accost s o termer, discussed Wein Ackliticeal Infremation is available upon request iCapital. I nfeLtritapiteirietvittir k turn I etwritticapittilitetwtikdaten CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0097783 CONFIDENTIAL SDNY_GM_00243967 EFTA01392544