EFTA Document EFTA01355563

GLOUSlitt Greg Martin Secondary market volume remains at record levels Market is evolving with GP-led transactions now representing 25% of volume Secondary market volumes 2006 - 2018F 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F GP-led Secondary ■ Fund Secondary Source. Glendower Capita= analysis. and own estimates based on Greenhill Secondary Market Trends & f_kelook, Janurzy 2018: Geenhul! GP S.:Rarer* DlectNtwn fMterats. May 2017: and Dow Jun-es Rrvater Eoraty Analyst Guide to the Secondary Marker. June 201! . F = RAW:4AI There la Elowarmitee the eOrnate tiahliatteel wilmerrtOze. Past market volume is not a prediction or gttarantee• of future market volume. Glendower Capital STRICTLY CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0040773 SDNY_GM_00186957 EFTA01355563