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EFTA01391255 | EFTA01391255 GLDUS139 Third Lake Capital SOF IV — Project Klein Exclusive deal Expected Glosing Date: El Fund Secondary June 2018 StreGP-led Secondary Seller type: Key investment data ❑ Single Anet Deal Alternative funds Transaction summary Number of companies 4 Invested Capital at dose E60-100m (US$80-120m) Discount to NAV at close >5% Strategy Mid-market buyout Gross multiple at close 1.1x Region Europe / UK 0/0 funded at close 80% Industries Use of leverage No Business services / Healthcare services Average age at purchase 9 years Description Investment rationale / Glendower Team angle - Motivated quality GP aiming to recapitalize and extend their 2007 midmarket pan-European fund while providing liquidity to LPs Glendower Team angle - Ability to quickly deliver a bespoke solution leveraging Glendower's track record in complex transactions - Key value driver is largest independent UK premium distributor in its segment, well positioned to benefit from market tailwinds - Second largest asset is a network of medical and cosmetics UK clinics with a private and affluent customer base - The portfolio also includes an Italian digital marketing company and a management consulting company with blue chip customers - Glendower Capital retains discretion on use of follow-on capital - Ability to perform extensive diligence, including onsite visits, full access to companies' management and industry specialists - Long 15-year relationship with the GP founder Investment rationale - Four well-invested companies positioned to capture growth opportunities arising from ongoing changes in industry landscape - Key value driver led by industry veteran with a solid track record - Value-add potential from recently implemented cost efficiency initiatives - Opportunity to invest in identified follow-ons at closing, and to contribute additional capita! to exploit market dislocations Fot disckm.M.:in perposear4y. The irra:gi-reint ~Med above I. s. tml and theam is no scuamntam that irmestinerfi ce.i.ripliÅecte !Of fl‘ pat si Ivnira mytested pottfcau that g skiti avaliatde su. aftec feetemi due diligence., prove suitable for SOF This. slide hauld be redd and tevle-wc-d in conjunetion with the -Imponcent Information and "Important Perfoimance Inforrnabon and • Notes to Investment Pencirmance sections. Glendower Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL STRICTLY CONFIDENTIAL 41 DB-SDNY-0096076 SDNY_GM_00242260 EFTA01391255
February 19, 2026 at 7:59 AM