SOF III - 1081 Southern Financial LLC Secondary Opporturities Fund III. LP have material effects on the Fund's performance. There can be no assurance that the Fund will achieve comparable results, that targeted returns, diversification or asset allocations will be met or that the Fund will be able to implement its investment strategy and investment approach or achieve its investment objective. Actual returns on the unrealised investments made by DB Secondary Opportunities Fund (comprising DB Secondary Opportunities Fund A. L.P.. DB Secondary Opportunities Fund B. L.P. and DB Secondary Opportunities Fund C. L.P.) CDB SOF-), DB Secondary Opportunities Fund D, L.P. (°DB SOF D")), and DB Secondary Opportunities Fund II, LP (-DB SOF II" and together with DB SOF and DB SOF 0, the "DB Secondaries Funds") and referred to herein will depend on. among other factors, future operating results. the value of the investments, market conditions at the time of disposition, the availability of financing, legal and contractual restrictions on transfer that may limit liquidity, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the valuations used in the prior performance data contained herein are based. Accordingly, the actual realised returns on the investments referred to herein may differ materially from the returns indicated herein. Each of the DB Secondaries Funds is managed by the Manager. Investors should pay particular attention to the information contained in Section 8: Risk Factors and Section 9: Conflicts of Interest. An investment in the Fund is only suitable for sophisticated investors who have the financial ability and willingness to accept the high risks and lack of liquidity inherent in an investment in the Fund. The price and value of investments and the income derived from them can go down as well as up and no assurance can be given that Investors will receive a r