EFTA Document EFTA01392588

GLOUS1 28 Patrick Gerschel SOF IV - Master Fund Key Terms Same key terms as SOF III with an increased team commitment The Fund Target Size Structure Investment Period Term Minimum Commitment Team Commitment General Partner Share Carried Interest Hurdle Rate Clawback Glendower Capital Secondary Opportunities Fund IV, LP USS1.75 billion (US$2.5 billion hard cap) English private fund limited partnership 4 years from final closing 7 years from final closing plus up to 5 one-year extensions (the first three one-year extensions being at the discretion of Glendower and the final two one-year extensions requiring the consent of the SOF IV advisory committee) USS5 million Min of 1% of aggregate commitments 1.25% p.a. of commitments during Investment Period 1.00% p.a. of Invested Capital' for a period of 2 years after the Investment Period, thereafter greater of 90% of previous year and 0.25% 12.5% on a whole fund basis 8% (with 100% catch-up) Yes Peave read the coniklent-A private 8ra:err:Atm memorandum of the Fin) tale Meitiorarylorril or the kill dsdostre of risk far tors. conflicts of imerest, canyktte terms, arki regulatory and tav considerations of the Fund. For hither draitiosure of fees, such as lees and Lt4%enses paid by the Fund, please refer to the Memorandum, the amended and restated limited partnership agreement and the deed of adherence of d r..». 1." dootanents are in the process of being prepared and will be made available to prospectrw investors upon retf,rest. 1) Invested Capital is the amount of capital invested in investments and the remaining unhanded obligations reasonably reserved by Glendower for such investments. Glendower Capital STRICTLY CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R CRIM. P. 6(e) DB-SDNY-0097836 CONFIDENTIAL SDNY_GM_00244020 EFTA01392588