GLDUS140 Lawrence Hirsch Contents Introduction 2 Glendower Investment Strategy 3 Secondary Market Update 4 SOF III and IV Update 5 Glendower Capital Secondary Opportunities Fund IV Key Terms 6 Appendix Glendower Capital STRiCTLY CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R. CRI M. P. 6(e) DB-SDNY-0 100790 CONFIDENTIAL SDNY_GM_00246974 EFTA01394749