EFTA01354859.pdf

GLDUS125 Gerald Ford SOF Program compares favourably to public markets Performance data as of September 30, 2017'-',•5 SOF Funds have delivered attractive performance compared to major public market indices ______ I 40% I I I I I 35% - I I I 29% 30% I I 30% • I I 25% - 23% 22% cr 21% 20% -20%- 18% 15% 15% 15% 15% - 12% 12% 12% 12% 12% 9% 9% 10% - 5% - 3% 0% 0% SOF (2006) SOF D (2010) SOF 11 (2011) SOF III (2014) SOF Program ■Glendower Net IRR MSCI World Russell 2000 ■Thomson Reuters II) Performance figures have been calculated bases SOF. WE D. SOF • jl OF Ill as of September 30. 2017 and shock₹ he read and reviewed in conjunction with the 'Important Information' and -Notes to Performance Infonnator seci • ci-csccJe: • n s return'; are wen of expenses andcarried Eterest. Net pertermanoe reflects amounts net of expenses. lees art yarded interest. Irryestors should consult with their own adsfisers ns tothe apPropnate Lectors to to considelectin exafirdtino thiS information Past perlormanca k not a prediction of the finite performance of SOF. SOF D SOF II or SOF III but m included to demonstrate the track recall of the Glendower SOF leers and there can be no assurance that SOF IV wilt achieve comparable resells or that any target results will be anise rd See 'Important Informatren- and "Notes to Investrriert Portormaxe- sections of this presentation 12) MSC₹ World Index and Russell 2(A) Incisor ratunm are based on total return Thomsen Retjsaes Private Equity Buyout Index reams are based on prier. These benchmark indices do rut represent an appropriate benchmark to compare the performance of Ilse SOF Funds. but raneeis disclosed solely to Ldnes companson to that of certain weadocesn and sadely recognized indices. i31 Methydology. The Long Nickels mettnel has been used to calculate the PMEs. Net cash flows lel the SOF Funds are ftwicaled in each illaCk. Fos exhirt(Itt. RI when capital is drawn town an mystwor an equivalent amount re masted in tea; index on the spea₹ic and when caplet cfstrafistrei to an investor ads; s' ysithdrawn" from the index on the same <fide. A tbabretv.Asl terminal 'sake perreiate-i based on the 'ironic of the total index Net IRR a calculated trungtte cashflok replicated n the irdex and the theoretical terminal value. Recallable distributions have been tre.aterA using the 'all in method Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CR M. P. 6(e) DB-SDNY-0039457 CONFIDENTIAL SDNY_GM_00185641 EFTA01354859