Secondary Investment Process
Saints works cooperatively with sellers to achieve their financial and strategic objectives. We understand that each situation is unique and we do our best to tailor the transaction to meet the seller's needs. We provide the seller with a variety of options ranging from complete acquisition, to partial acquisition or a fee-based management of direct investments. Saints will acquire private equity stakes across all industries, geography, and stage of development.

The following outlines Saints' typical secondary investment process.

• Saints typically conducts a preliminary review of the seller's assets without detailed company due diligence.
• Saints' experience and knowledge of numerous recent private equity transactions in the secondary as well as direct markets enable us to quickly provide a valuation range to the seller, often within a few days.

• If the seller is comfortable with our initial indication of value, Saints will undergo a more in depth due diligence evaluation to arrive at a final binding price.
• Typically, we review information regarding financial, capitalization, seller investment/ ownership, management, product, projected capital requirement, exit options, etc.
• Additionally, we will analyze voting rights, rights of first refusal, information rights, and other legal issues to determine possible impact on the structure of the deal.
• At this point, Saints provides a final price and assuming agreement with the seller, will deliver a purchase and sale agreement.
• Similar to direct investment, Saints contacts the portfolio company management teams to review the business and operations.

• Saints provides standard purchase and sale agreement to the seller. We can typically negotiate and execute an agreement within a week assuming full cooperation from the seller. We strive to have relatively standard terms and can allow for multiple closings
• Saints' approach is to work cooperatively with the seller to achieve their financial and strategic objectives. We are flexible in transactions such that a seller can retain some ownership, presenting some upside, or provide structured alternatives, including just providing new capital to support the old investments.