EFTA01393484.pdf

GLDUS130 Aspen Grove Capital. LLC SOF Funds show consistent performance1 Across different fund sizes, fund vintages and economic cycles Net Contributed Capital (as % of Fund Size) Net IRR 30% 100% -SOF 11 44—.5OF HI 60% 80% 40% 20% 40% — 0% 25 27 29 31 33 35 37 39 41 43 45 20% 20% Quarters from inception -40% 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 Quarters frominception DPI (Distributed to Paid-In Capital) TVPI (Total Value to Paid-In Capital) 20X 1.8x -89F amma. SOF JI SOF witto SOF II --SOF III 1.6x 2.0x 1.4x 1 2x 1 54 1.0X 0.1!gt 1.0x 0 ex 0 4x 0.5x 0,2x 0.0x 00x 1 3 5 7 9 11 13 15 If 19 21 23 25 r 29 3I 33 35 37 39 41 43 45 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 Quarters fromincepton Caters tromneeption it) Perroimance figures have been calcitgated based on the unaudited performance results of SOF. -SOF II and SOF III as of September '30. 2017 anti should be read and reviewed in conjunction with the "Impodarii Information" and "Notes to Per Information' sections of this presentation. Past performers:* is not a prisdk..toi of lunge returns and there can be no assurance that S0F IV will ecNeve comparable Jesuits or trvit any target iesults will pe achieved tr4ror is no guarantee twit future pierforinarce will be consestent with past performance of SOF. SOF II and SOF In. Performance information on SOF D has not teen incksied un Ihni become. SOF 0 is a single transaction top up fund raised in 2010 to Ullfierfilite pariipassu the Da lima transaction with SOF. Glendower does not se pc-ct that similar tram.actions will be available to S0F IV. Glendower STRICTLY CONFIDENTIAL 20 Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0099054 CONFIDENTIAL SDNY_GM_00245238 EFTA01393484