GLDUS133 Georgetown University Endowment 1 Disclosure Statement Deutsche Bank Securities Inc. (the "Solicitation Agent"), Glendower Access Secondary Opportunities IV GP LLC ("Glendower") and iCapital Advisors, LLC ("iCapital") have entered into an agreement pursuant to which the Solicitation Agent has agreed to consider the Solicitation Agent's clients and prospective clients for whom an investment in Glendower Access Secondary Opportunities IV (U.S.), L.P. (the "Onshore Fund") and Glendower Access Secondary Opportunities IV (International), L.P. (the "Offshore Fund" and together with the Onshore Fund, the "Access Funds" and each an "Access Fund") may be suitable and to use reasonable efforts to solicit such persons for potential subscription of interests in the Access Funds (the "Interests") The Solicitation Agent is not affiliated with the Access Funds, iCapital or Glendower. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the private placement memoranda of the Access Funds. As compensation for these activities, the Solicitation Agent will receive from clients (each such client that subscribes for Interests, a "DB Introduced Person") investing in the Access Fund a one-time "Placement Fee" in accordance with the schedule provided below in respect of the aggregate Subscription of such DB Introduced Person to the Access Fund. Any Placement Fee paid by a DB Introduced Person to the Solicitation Agent will not be considered a capital contribution to the Access Fund. The Solicitation Agent in its sole discretion will have the right to waive all or any portion of the DB Placement Fee payable by any particular DB Introduced Person. The Placement Fee rates applicable at each level of investment are as follows: Subscription in US$ from $5,000,000 or greater from $3,000,000 to $4,999,999 less than $3,000,000 Placement Fee Rate 1.00% 1.50% 2.00% The Placement Fee is a one-time sales charg