Cerberus Global NPL Fund, L.P.

Summary of Terms Fund Name Target Fund Size Minimum Commitment Investment Period Liquidation Period GP Commitment Management Fee Distributions Preferred Return Carried Interest » Cerberus Global NPL Fund, L.P. Expected First Close >> $3.5 billion >> $10 million; lesser amounts accepted at the >> 4 years from initial close >> 3 years from the end of the at the GP's discretion Period 1.5% of Commitments alterberus Gh Ost Investment Period - 1.5% of Cost of Investments of the GP >> Lesser of $30 million and 1.5% (includes amounts from the GP, its affiliates and senior executives of >> During In rus) >> Q2 2018 Period; subject to a one-year extension Te Invest Dako decreto Investment Board 8% >> 80% to LPs / 20% to GP (after a 100% catch up to the GP) Proprietary and Confidential | Not for Further Distribution This summary of principal terms is provided for discussion purposes only and does not purport to summarize all the terms, conditions and other provisions with respect to the Fund. All terms, conditions and provisions described herein are subject to continued review and modification. cerberus 35

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