VALAR Vt.N ulf Valor Global Fund III LP Capital Call June 20, 2016 Dear Southern Trust Company, Inc., Thank you again for your partnership in Valor Global Fund III LP (the Fund). The Fund is calling capital from you in the amount of $250,000.00, which represents 1% of your total commitment of $25,000,000.00. This capital contribution is due on or before Friday July 1, 2016. After this capital contribution, you will have contributed 1% of your total commitment with a remaining 99% of total unfunded commitment, which is detailed below. Total Commitment: Total Contributions as of July 1, 2016: Total Unfunded Commitment: $25,000,000.00 $250,000.00 $24,750,000.00 Please wire your funds in accordance with the following instructions: Due Date: Amount Due: Bank Name: ABA#: Beneficiary Name: Beneficiary Account: Friday July I. 2016 $250,000.00 Silicon Valley Bank 121140399 Valor Global Fund Ill LP 3301520427 If you should have any questions regarding this information, please feel free to contact me at Sincerely, Reuben Kobulnik COO/CFO +1 (646) 559-0458 Valor Ventures LLC 915 Broadway Stile 1 101 New York. New York 10010 WWW.VOIOLCOM EFTA00593789