EFTA Document EFTA01386452

GLDUS238 SOUTHERN FINANCIAL LLC Established track record SOF Funds as of September 30, 2017A 2 3 Fund SOF Vintage 2006 (development stage) (harvesting) SOF D 2010 (harvesting) SOF II 2011 (maturing) SOF III 2014 (early stage) Total Fund size US$565m US$147m US$614m US$1,654m US$2,980m Transactions, funds, companies # 21 / 154 / 1,774 1 / 28 / 193 29 / 75 / 737 35 / 149 / 2,837 Gross multiple 2.1x 3.0x 1.7x 1.4x 1.6x Gross IRR 29% 37% 23% 31% 28% Net multiple (TVPI4) 1.8x 2.3x 1.5x 1.3x 1.5x Net distributed (DPI4) 1.8x 2.1x 1.2x 0.3x 0.9x Net IRR 22% 29% 20% 30% 23% Peak net contributed capital 26% 51% 42% 44% (I) Performance figures 113Ve been calculated based On the unatidted performance results of SOF. SOF D. SOF and SOF III as of September 30 2017 and slxuad he read and levier:ix' in conjunction the "Important information and 'Notes to Performance Information" secitsons of the presentation. Gross returns are prose of fees. expenses arc carried asterest. Net performance reflecta amounts net of expenses tees ens carried interest. Investors should consult with their own advisers as to the appropriate factors to be considerecrin evaluating this information. least is not a prediction of the futise Performance of SOF, SOF ID SOF 04 SOF III but re inekided der:ion:watt the track record of the Geri:lower SCiF Team and [Mere can be no assurance that SOF IV unit achsist comparabai revAls or that ttrly target R4LIIIIL *III JN Lttilies'eci &'e important information on the Track Record' sections of this Presentation. (2) SOF D B a Euro denominated b.e,t US.; v2AufiS, have been converted at September 30. 2317 EURillSt rate ofoft 1322. (3) Both SOF and SOF I) are invested in the DaVinci Portfolio — a well diversified pontolio of n iDittate equity funds purchased through an SPV. providing exposure to buyout. special sitintions..venture capital and real estate sbatcts ≥: North Amer Eva. Europe and Asia The number of bait/Sand companies IS a beat e;stottale and Wnkt* the egsfitrilte 01t.F:s 11 deal at citisirsa LEW may inek4ii WIT'S double courting. 17 Total Value to Paid in Capital; DPI it Distributions to Paid in Capital: IRR r Internal Rate of Return. Glendower Capital STRICTLY CONFIDENTIAL 16 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0088160 CONFIDENTIAL SDNY_GM_00234344 EFTA01386452