Campbell Lutyens’ secondary advisory team, which includes more than 50 professionals globally, has a 23 year track record and has advised on over $130 billion in transactions. We advise across a wide range of secondary mandates, assisting investors to achieve best value for their portfolio of assets efficiently and discreetly. Our approach to tailoring transactions according to our clients’ objectives, combined with our deep market knowledge and process fundamentals, has enabled us to successfully complete some of the largest secondary transactions globally.

Disclaimer

This presentation is for the confidential use of only those persons to whom it is distributed and is not to be reproduced, distributed or used for any other purposes. By accepting delivery of this presentation, each recipient agrees to treat this presentation as strictly confidential and not to reproduce, distribute or otherwise use this presentation or any of its contents without the prior written consent of Campbell Lutyens & Co. Ltd. (“Campbell Lutyens”). This presentation is for information and discussion purposes only. It contains observations, analyses and comments of a preliminary nature which are made on the basis of unverified information and on limited or no due diligence by Campbell Lutyens. No representation is made or assurance given that such observations, analyses and comments are correct, complete or up to date. In particular, no advice has been sought on the legal or taxation matters relating to the issues set out in this presentation. Nothing contained herein constitutes either an offer to sell or an invitation to purchase any assets, any shares or other securities or capital or to enter into any agreement or arrangement in relation to the presentation. Nothing herein should be taken as a recommendation to enter into any transaction. The entire contents of this presentation are the copyright of Campbell Lutyens. Campbell Lutyens & Co. Ltd. is authorised and regulated by the Financial Conduct Authority. In the European Economic Area, Campbell Lutyens SA acts as an agent to Campbell Lutyens & Co. Ltd and is authorised and regulated by the Autorité de Contrôle Prudentiel et de Résolution. Licence number 15183D. Registered RCS number 892 001 090. In the United States, Campbell Lutyens & Co. Inc. acts as an agent to Campbell Lutyens & Co. Ltd., and is a registered broker-dealer with the U.S. Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority. In Hong Kong and elsewhere in Asia, Campbell Lutyens Asia Pacific Ltd. acts as an agent to Campbell Lutyens & Co. Ltd., and is licensed by the Securities and Futures Commission in Hong Kong and holds a Type 2 securities license in Japan (registered number 2604). In Singapore, Campbell Lutyens (Singapore) Pte. Ltd acts as agent for Campbell Lutyens & Co. Ltd., and is regulated by the Monetary Authority of Singapore and holds a Capital Markets Services Licence to conduct the regulated activities of advising on corporate finance and dealing in securities as defined in the Second Schedule to the Securities and Futures Act 2001.

None of Campbell Lutyens, its affiliates, their agents, nor any of their respective affiliates, directors, officers, employees, representatives or agents (each a “CL Person” and together the “CL Persons”) accepts any liability or responsibility for the information contained in this presentation. Moreover, the information contained in this presentation has not been independently verified by any CL Person and no CL Person accepts any responsibility for independently verifying the information contained in this presentation. No CL Person makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information contained in this presentation. Nothing contained in this presentation is to be relied on in any way including without limitation as a representation or warranty by any CL Person as to the past, present or future and each CL Person expressly disclaims any responsibility and liability for any information, including “forward-looking statements” contained in this presentation.

Important information

This 2023 Secondary Market Overview Report (the “Report”) is for information and discussion purposes only. It contains the observations, analyses and comments of Campbell Lutyens (as defined below) and is based in part on a survey of select secondary market participants. The Report does not purport to represent the comprehensive universe of secondary market participants. No representation is made or assurance given that such observations, analyses and comments are correct. Nothing herein should be taken as a recommendation to enter into any transaction.

Nothing contained herein constitutes an offer to sell, or a solicitation of any offer, or an invitation to subscribe for or purchase, or to make any commitments in respect of any securities.

No reliance should be placed on the information contained herein, including any forward-looking statement or statements of belief and no responsibility is accepted in respect thereof. In considering any prior performance information contained herein, recipients should bear in mind that past performance is not indicative of future results.

Campbell Lutyens & Co. Ltd (“CL”) is authorised and regulated in the United Kingdom by the Financial Conduct Authority. In the European Economic Area, Campbell Lutyens SA (“CL SA”) acts as agent for CL. CL SA is authorised and regulated by the Autorité de Contrôle Prudentiel et de Résolution. Licence number 15183D. Registered RCS number 892 001 090. In the U.S., Campbell Lutyens & Co. Inc. (“CL Inc.”) acts as an agent to CL and is a registered broker dealer with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority. Campbell Lutyens (Singapore) Pte Ltd (“CL Singapore”) acts as agent for CL and is regulated by the Monetary Authority of Singapore and holds a Capital Markets Services License to conduct the regulated activities concerning corporate finance and dealing in securities as defined in the Second Schedule to the Securities and Futures Act 2001. Elsewhere in Asia, Campbell Lutyens Asia Pacific Ltd (“CL Asia”) acts as an agent to CL and is licensed by the Securities and Futures Commission in Hong Kong. None of CL, CL SA, CL Inc., CL Singapore, CL Asia (collectively, “Campbell Lutyens”) nor any of their respective affiliates, directors, officers, employees or agents accepts any liability or responsibility for the information contained in this Report or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information contained in this Report. © 2023