Glendower Capital Sal IV, LP. Lepl dbdalmers For Recipients In the EEA This Presentable, shell not be cistnbuted to any Recipient that Ls domicile'; or resident Me EcropeeriEcenomic Area nieniber :tate *here Uet distribetkin of the Presentation in :eel' member stale 'efierkehree' (within'' lit we:aging or article cell(x) of eni Alternative Investment rung Managers Directive (2011/G1/11.Iii Thk; Presentation it: rot an approver: prosoectus for pure:ises of section A5 cif the Ur' financial Siireces are Markets At 2030 eTervin In Mt United .ingecirri,. thes Preset:tat:ler may only he alrransinkatec ii) by a ;reit-six: otter than an aiehonrec ceirson if eirectec only at fa) person who have prof sional experience in matters relating to investments. falling within article 19451 t'imestrnent professional?) of the ne‘arcial sankt,a and MafkAtt ACt kNY.I frifstifiCall PfOrf.)tiOnl Order /COS f;e: areerzeied "Orrierl, (b) persons felines: within. What ell2)fe] to lee Chaos net worth companies, unincorporated assottattore etc."1 of the Cater, or (c) persons whom this fermentation may °0wn:rise lawfully be communicated; :emelt') try an acithorizec pereen it cerettect oak at la) pesters who have prole:el:mai esperieree of patticipetine in war:plate:, q:lerntic, felting; within VW,: 14451 ('investment professiewle, or the ferranciel fervices and Markets Act 200) (Prornoticri <4 Collective Investment echerrots) (Exemptions) Order 20(i) errecnceel (the 'Pecs C'ree?i arc article 19{5) rinvetemere prcitessioncils'i Orcer. lie falt.ng WY:bin articfe 22 (testi net worth oenparcee Llupwrpgrate etch of the POS Order ere: attele49(2)(a)to id) thigh net weal, crimpenles,uninCrepOrated eSSoreations etc') of t l'*Order. MR Nodes. In IfttaliOn to each member :Late of the EEA feaces a 'Member Stare) which has ririplerrtentee the Alternative Investment fury Managers Directive ',Directive (20.1.1161/EUI) eta? •AlieL4D-1 (arc€ tor whirr, transitional arrareernents are *sue no