EFTA01386467

GLDUS238 SOUTHERN FINANCIAL LLC SOF Ill Portfolio - Highlights Gross invested capital breakdown Overview Investment strategy Vintage 2014 Fund size US$1.654m Gross invested capital 1 931m Performance as of September 30, 2017 Capital called 1.036m Distributions. net 316m 0.30x Remaining NAV 1.026m 0.99x Total net return US$1.342m 130x 30% 58% Asset geography Vintage year Europe 45% North America 4,4% RoW 3% Alit flit Asia Pacific 8% • Large Buyout • Mid-Market Buyout Growth Equity Real Estate Other 17% 12% II 10% 26% • Pre 2005 • 2005 - 2006 24% 2007 - 2008 2009 -2011 2012 - 2015 2016 - 2017 Sector composition As at fripttisthor ?O. 2017. Past performwsze is not a gutgantee or inrIcator ci ilitE6 results . and :heft. Pan be no assurance that the fund will achieve cuntrAseble results TI,i, page should be reviewed in conjunction with the 'Important Irdonnation• and 'Notes to Irrrestment Peiforrnonce' sections of this Presentation Consumer Healthcare I* Industrials co Real Estate Financial Services Business Services CI Technology 0 Comrrunications & Media li 3% Natural Resources 5%1i Other Glendower Capital STRICTLY CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0088181 CONFIDENTIAL SDNY_GM_00234365 EFTA01386467