Mesirow Private Equity

■ Co-Investment Due Diligence Process ■ H Selection Criteria ■ ■ High-quality management team Sustainable competitive advantage Clear and growing market opportunity Clear path to value creation and realization Quality and experience of investment partners Capital-efficient business model Acceptable financial risk profile Attractive initial valuation Sourcing and Initial Screen Referral from top-tier managers Log and screen every co- investment opportunity Initial market research using publicly available information Utilize private company databases to learn company background Past performance is not indicative of future results. 21 | MESIROW PRIVATE EQUITY Introduction and Initial Review Introductory discussions with managers and company management Review investor materials provided by the company ■ Intensive Due Diligence Comprehensive review of data room materials Independent review of industry, competitors, trends, drivers and company positioning In-depth quantitative analysis Vetting calls with the Mesirow network Reference calls with customers, suppliers and strategic partners On-site due diligence ESG evaluation ■ H Investment Recommendation Refine underwriting model Prepare investment memorandum Approval of investment committee ■ Mesirow Closing Negotiation of terms and structure Detailed legal and tax review Closing TRADE SECRET, CONFIDENTIAL AND PROPRIETARY FOR INSTITUTIONAL USE ONLY

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