GL0US130 Notes to Investment Performance Important Information on the Track Record. The Glendower SOF Team spun-oft from Deutsche Beni and its affiliates ("Deutsche Bank , eii August 1.2017 and established Glendower Capital: LLP and its affiliates (together. tieeirtieze o;' independent private equity ern) owned by its partners focused on secondary transactions in private markets The performance inforrnatken and track record set out in this Presentation in respect of the SOF Funds covers the period time from inception of the SOF Funds to date. including the time prior to the formation of Glendower. when the team were employees of Deutsche Bank In evaluating the track record. each Redeem should note that 6) Carlo Pirzio-Birch and Charles Smith have been permanent voting members of the SOP Funds investment comnettees since inception: (ii) Chi Cheung. Francesco Rigamonti and Adam Graev have attended as observers the majority of investment committees of the SOF Funds since inception. they were appointed in December 2011 during the SOF II investment period as voting members on a rotational basis and have been permanent voting members since January 2013: (iii) other employees of Deutsche Bank who were not part of the SOF investment team and that have not joined Glendower were involved at different times on the investment committees of the SOF Funds and the investment decision-making process in respect of the investments made by the SOF Funds and ev) in connection with the investments comprising the track record, the Glendower investment professionals were part of a larger group within Deutsche Bank. The investment perfoithance included herein is intended solely to provide Recipients with information about the Glendower SOF Team's investment experience. The performance information provided herein has been prepared by Deutsche Alternative Asset Management (Global) Limited ("DAAMIG)L") and provided to ielenclower and relates to the SOF Funds and the related indiv