EFTA Document EFTA01451894

SOF III - 1081 Southern Financial LLC The Offshore Feeder Fund In determining beneficial ownership of an interest in the Offshore Feeder Fund, an interest held by (i) a partnership or entity treated as a partnership for U.S. federal income tax purposes or (ii) a PFIC, will be considered beneficially owned by its partners or equity holders, as the case may be. An interest held by any corporation other than a PFIC will be treated as held by a shareholder beneficially owning 50% or more of th