GLENDOWER ACCESS SECONDARY OPPOR I UNI I IES IV (U.S.). LP END NOTES Note, Investors In the Access Fund will bo subject to fees, expenses and performance compomation of the Underlying Fund In addition to the Access Fund Fee and Acmes expenses and will expeclence lower miens, than investors committing directly to the Underlying Find as a result of the fees and expenses associated with an Investment in the Access Fund. DBSI will receive an oddltIonal too, directly or indirectly from the, Underlying Fund (or its affiliates donna) Find AUnti1W0f, Date shall mom the ;ask day of the toliteentn talenot month tolerant> the month et winch toe ifrtrei Closing oecin Ws t, fate date as t$eierro,,,ed ,y, the Genteel omit. nth COrrinverf ro ti'R9 AchnlOrFealrehlt tee Cogfil in rts solo drecletion resorts tee 'tint Sc' waned' ce any portion of the Placement Fes pergabe by any oarhoult Linuted partner The Access Fund Management Fee will be mkt between Capital Advisees end 0FEr( with n subitantal portion rebelled to DISSI Panne te the Private Fttement Memorandum of tro Access Fund for fatner informatics-, h, C.:tow:cm bans • Limited Pertness capital ccennietrnent. 5. Cee:Ui.riOn DOHS = hugged Capital es fully defined in the LI,XetilyIg Fund LPA (henei&ly, Inereekt: Crclitel et the Unclorblish Fared is Ile anuunt of ca ut invested in nuithreqms ein the remaining endure/NI Crolegretkåns reasonably reserved tot such Investment; ) Investors nuking e e....(4CtiptiOn "'dual to or greate then 45 million nor/ the ObtiOn IneeStill2 dettctly nt...; the Unit/erg Fiend ar de Underlying Reefs discretUn Any defect tnertstors will not roreiret trio IS bps a.scatn: stwinst management fens from. too Unclerlyerg Fund investors who tved directly into tro Underlying Ford will rot be what t t> Access Find ^tenses. DBI tee eats as pltement .he Urvarriylnd Fund and will recent related mer kiting fees theatre see to Private Frarement !lemma-dun, of rin recess Fend for tether infor