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EFTA01390269 | EFTA01390269 Strictly Cor Glendower Capital SOF IV, LP. 2 Distinctive investment strategy12 Glendower will target globally, but primarily in the US and Europe, three types of investment: • Fund Secondaries, the purchase of LP interests in existing private aduity funds: • GP-led Secondaries, which can often involve greater complexity than traditional Fund Secondaries, and induce spin-in / spin-outs, tail-end restructuring, asset lieu ida t ions, and LP tenders; and • SingleAsset Deals into indivicual private equity companies, either at the time of the original acquisition, or tater from an investor seeking early hquidity. Glendower's portfolio construction follows an opportunistic barbell approach adjusted to market cycles by dialing up: • Discounted Fund Secondaries during market corrections I58% of transactions since inception) • Less competitive GP-led Secondaries and off-market Co-investments during normalized market conditions(42% of transactions since inception) Pursues setectlye true value approach Identify Nat compeddva dials • tiS$40maveragedeal size • transacted 1% of total metre by value • Smaller uS55.100n fund ponfolos • Mid-sized alpha value rvestorvs large levered beta play • kid sue USS1O3-250mGP led deals • Value creation through in depth fundamental anSysisso dealstructuring Focus on effident portfolio construction Buy margin dialog • NoIt:nage at trar sachor Irvel and limited at ponfaolevel Purchased 350, mature fund interests at a discountover 10 years: • Hedging to mitigate 50.603Cof currency volatility • Average HA diSeOunt toFMV • ketrage `SOU funded at time of entry • Pardee° diversified across a 35 deals to seek to mitigate90%• of nonmarketriska Established Investment Team Active In the Secondary Market Since 200314 • 23-strong team expected to grow to 26-28 by 1 I ; • 16 investment professionals with an average of 12 years of relevant experience Carlo Pinto-tarok Charles Smith CO Tr ManagingPartner, CEO — London Deutsche Bank; CDS Web Tech; General Electric; The Boston Consulting Group it Deirdre Davin ManagingPartner,CIO - London Deutsche Bonk; Bankers Trust; Coopers & Lybrand Joshua Glaser 0 II& 0 Partnar,COO - London Deutsche Bank ABNAmr0; KPMG Partner, Client Coverage— New York Cup:tol; forum Delibelle Bunt; Copilot OBC Oppenheimer Adam Graey fri diE Chi Cheung eft 0 Partner-Newyork Deutsche Bonk; Pomona; Lehman &others; ChotterfeilSoms; Cowen eons Olmos le - Partner-London Deutsche Bonk Francesco R mom' ®t Managing Director — London AD.A; UBS; Deobchr Bunk; Ortla Suisse Senior Advisor — London Div./Tsar Bonk; Golto & Co IIRelevant rears of experience CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0094715 SDNY_GM_00240899 EFTA01390269
February 19, 2026 at 7:07 AM