EFTA01393989.pdf

GLDUS137 Forrestal Capital LLC Benefits of secondary private equity investing Attractiveness of secondary opportunities' Secondaries can result in earlier cash flowsl In 'WO Timeframe of secondary investment 1.400 Pricing - Re-price existing funded assets 1,200 Flexibility — Capitalise on pricing inefficiencies 1,000 800 Hypothetical — Knowledge of existing underlying companies timing of Mitigate Blind secondary 600 Pool Risk — Mature assets typically yield more predictable cash flows transaction 400 1 200 Mitigate J- - Shorter duration of investments Curve — Earlier cash distributions 5 6 7 8 9 10 11 (200) Years Complement — Accelerate deployment of capital (400) Portfolio — Provides back-seasoned diversified exposure across vintage, Construction strategy, industry and geography (WO) Capital calls and managen*nt fees Distributions tE00) CumLlabve cash flows (1) This information is for riic.1.e:5 win puiposes and reflrrcts Glendower Capitals own analysis. The graph is an example for illtrstrative purposes only aril the actual profile of any given investment may vary substantially. Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0099909 CONFIDENTIAL SDNY_GM_00246093 EFTA01393989