GL0LIS130 Aspen Grove Capital, LLC Glendower Capital Secondary Opportunities Fund IV. LP and financial matters that it is capable of evaluating the merits and risks of an investment in securities. PERU The Interests have not been and will not be registered in Peru under Decreto Legislativo 862: Ley de Fondos de InversiOn y sus Sociedades Administradores or under Decreto Legislativo 861: Ley del Mercado de Vellums (the "Securities Market Law"), and are being offered to institutional investors only (as defined in article 8 of the Securities Market Law) pursuant to a private placement, according to article 5 of the Securities Market Law. The Interests have not been registered in the securities market public registry (Registro POblico del Mercado de Va!ores) maintained by. and the offering of the Interests in Peru is not subject to the supervision of, the Superintendencia del Mercado de Valor's. Any transfers of the Interests shall be subject to the limitations contained in the Securities Market Law and the regulations issued thereunder. QATAR AND THE QATAR FINANCIAL CENTRE This Memorandum is provided on an exclusive basis to the specifically intended recipient thereof, upon such recipient's request and initiative, and for such recipient's personal use only. Nothing in this Memorandum constitutes, is intended to constitute, shall be treated as constituting or shall be deemed to constitute, any offer or sale of securities in the State of Qatar or in the Qatar Financial Centre, or the inward marketing of an investment fund or an attempt to do business, as a bank, an investment company or otherwise in the State of Qatar or in the Qatar Financial Centre. Neither this Memorandum nor the Interests have been approved, registered or licensed by the Qatar Central Bank, the Qatar Financial Centre Regulatory Authority, the Qatar Financial Markets Authority or any other regulator in the State of Qatar or the Qatar Financial Centre. Neither this Memorandum nor