CONFIDENTIAL DEMOCRATIZING I E NETWORK INVESTMENTS GLENDOWER ACCESS SECONDARY OPPORTUNITIES FUND IV (US), L.P. v` a' Cain ACCESS & UNDERLYING FUND TERMS ACCESS FUND GLENDOWER ACCESS SECONDARY OPPORTUNITIES IV (U.S.). L.P. GENERA' PAPTNER Glendower Access Secondary Opportunities IV GP LLG ItiVESTIAENT NA.WP Capital Advisors. ILC STRUCTURE Delon* LinItied Partnership STRArErok' The Access Fund wil nest Underlying Fund MINIMUM GOMI-111 ME r 1 t $250.000 tanbally eV of its *wettable ra-tetS into the EI.IND TERM The Access Fund will continue in existence Mrough the one-year arnweesary of the dissolution of the Underlying Fc (and accordingly. shall extend &Somatically upon the extension of the Underlying Funds term). with two additions! one year optional extension periods at the discretion of as Generic Partner CAPITAL CALLS Generally upon 7 business days notice Rr Pcti:rINKI Oserterly reports. capital account statements and year-end auckted (vandal statement?. PLACEMENT FEE Up to 200% Payable to OBSI a an affiliate thereof' MANAGEMEFIT FEE <$3 Mit 1.00% $3 - <$5 Mil $5 Miles 0.25% 075% I 0.75% 0.60% 0.25% CARRIED INTERE:S No additional caned interest will be charged by the Access Fund SLIRSEe,)UENT CI. ()SING FEE f FIRST Cl On( Same as the Underlying Fund. including Min:Mx:Dom nada by corder investors for fees and expense?. of the Feeder UNDERLYING FUND GLENDOWER CAPITAL SECONDARY OPPORTUNITIES FUND IV, LP G€NERAL.. PARTNER Glendower Capital UP INVESTMENT MANAGER Glendower Capital SOF N (GP) Limited St PUG LURE Engish Private Fund Limited Partneeshp STRATEGY Invest in private equity assets on the secondary men et global, NUIIMUM COMM! T MEM $5 million FUND TERM 7 years from the date of the Uisdedymg Fuld's Fos& Actnsvon Date plus up to one-year extensions (the first 3 one-year extensions we at the discretion of Glendower and the final 2 one-year extensions require the consent of the SOF IV advisory comm