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Recommendation Report

Hamilton Lane Consistent net performance across prior funds Strong gross returns with expected near- term mark-ups Steady deployment with near-term liquidity expected ● December 2021 | Proprietary and Confidential ● ● ● ● Track Record The General Partner has consistently generated attractive absolute returns across prior vintages Georgian's focus on high-quality assets and continued development of its direct sourcing efforts are expected to yield high-quality opportunities for the Fund The General Partner's value-add platform is also expected to help drive additional growth and value creation across the portfolio The General Partner has generated attractive gross returns with a healthy unrealized portfolio Georgian experienced write-ups in existing Fund III and Fund IV investments in Q3 2021 The General Partner has proven its ability to deploy capital as fund sizes have increased Georgian has generated a limited loss ratio since inception and proven its ability to preserve capital Executive Summary | General Partner | Investment Strategy | Track Record | ESG | Appendices Georgian exited two investments at higher valuations in Q3 2021, benefitting net returns Georgian Growth Fund VI, LP & Georgian Alignment Fund II, LP | Page 19
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