SOF III - 1081 Southern Financial LLC Only for Investors who are both qualified purchasers and accredited Investors. This presentation is not an offering of limited partnership interests (the 'Interests') in Secondary Opportunities Fund III Private Client Feeder Fund (LI 9 1. t. P (the -Onshore Feeder Fund') for sale in any iurlsdiction. It .yes not constitute 4,4ratkial investment advice and does not purport to summarize all of the conditksns, nsks and other attributes of an investment in the Onshore Feeder Fund. Any offering to be made will be made only by means of a Confidential Private Offering Memorandum (Offering Memorandum') which will contain detailed information about the Onshore Feeder Red, interests in the Omttore Feeder Ravi and the merits and risks of an swestment in the Or-shore Feeder Fall No sales sill be made, no commitments irwest in the Onshore Feeder Fund will be accepted. and no money rs being solicited or will be accepted, until the Offering Memorandum is made available to prospective investors (Investors). Any indication of interest front prospective investors in response to this presentation involves rx obligation or commArnert of any kin). The Onshore Feeder Rawl is offeriN interests only to Investors who are '' alitter,..1 purchasers: as defined in the U S. Investment Company Act of 1£40. as amended, which generally includes individuals or tamIly-owned entities with existing insitstments in securities of $5.000.000 or more and mstittlions with discretional), investment authorty over $25,000,000 or more. and who quality as "accredited investors- within the rnearmg given to such term in Regulation D tinder the U.S Securities Act of 1933, as amended. which gererally includes individuals whose net worth exceeds $1.000.000 including personal property and other assets but excluding the value of primary residence. or investors with a gross individual income in excess of &MI= (or pint oroirie wth the investor's spouse in excess of &IMOD