GLDUS238 SOUTHERN FINANCIAL LLC Section 5: Fund Management Glendower Capital Secondary Opportunities Fund IV. LP From time to tine. end as appropriate, the Manager may invite additional persons as observers to the Investment Committee. SOF IV Investment Committee Members Carlo PlaJo-Biroll (52), Managing Partner and Chief Executive Officer. Based in London, Carlo is a Managing Partner & Chief Executive Officer of Glendower Capital. Prior to Glendower. Carlo spent 15 years at Deutsche Bank where he co-founded and has led the SOF Business since 2006. From 2003 to 2006 he participated in the restructuring and sale of Deutsche Bank's E 6 billion private equity portfolio. From 2012 to 2016 Carlo served as the Global Head of DB Private Equity with US$13 billion AUM in primary fund of funds, secondary funds and co-investments. Before Deutsche Bank. Carlo was the CEO of a publicly listed venture fund of funds: an executive at General Electric in the U.S.: a consultant at The Boston Consulting Group in New York and served as a junior officer in the Italian Navy. Carlo is a qualified civil structural engineer (PEng). Carlo is a structural civil engineer by education and training and a qualified professional engineer. Carlo holds an MBA from Columbia Business School and an MSc in Civil Engineering from the University of Rome. Italy. Charles Smith (49), Managing Partner and Chief Investment Officer. Based in London. Charles is a Managing Partner & Chief Investment Officer of Glendower Capital. Prior to Glendower. Charles spent 25 years at Deutsche Bank where he co-founded and has led the SOF Business since 2006. Prior to setting up the SOF Business, from 2003 to 2006, Charles was the Head of UK Corporate Investments, responsible for the restructuring and sale of Deutsche Bank's E6 billion proprietary private equity portfolio. Before that, Charles was a Managing Director in the bank's M&A team based in London focused on originating and executing transactions