The above list includes investments from Sterling’s traditional private equity buyout funds including: Sterling Capital Partners I, II, III, IV, Sterling Venture Partners II, Sterling Partners – Small Market Growth 2009 and Sterling Partners Education Opportunity Fund (collectively, the “Private Equity Funds”). In addition, the above also includes certain investments made since 2005 that are outside of the Private Equity Funds but are actively managed either by Sterling Fund Management, LLC, NB Services LLC, or another affiliate of Sterling Partners, or are subsidiaries of such companies. A number of investments outside of the Private Equity Funds are managed by Sterling Partners but are not regulatory clients of Sterling Partners and, therefore, are not included in Sterling Partners’ regulatory AUM and are not managed in the same manner as portfolio companies of the Private Equity Funds. The company description for each of these investments indicates that it is not a client for regulatory purposes. The above list also excludes investments that represent strategies that are no longer pursued, including investments held by Sterling Venture Partners I, and also excludes certain other investments deemed by the firm as not being actively managed at this time. The above list is not exhaustive and is subject to change at any time. A complete list of all investments is available upon request.