Statement by General Partner

Limited Partnerships Act 1907, s. 10Limited Partnerships Act 1907LIMITED PARTNERSHIPS ACT 19072017-12-292017-12-312018-01-05TSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk294204362164

LIMITED PARTNERSHIPS ACT 1907

Pursuant to section 10 of the Limited Partnerships Act 1907, notice is hereby given that, with effect from 31 December 2017, Crown Private Equity plc transferred to Picasso GP Limited, as General Partner of Picasso 301, L.P. (the "Transferee") 100% of its interest in Rutland Fund II L.P (the "Partnership"), a limited partnership registered in England and Wales with number LP011680, and that, with effect from that date the Transferee became a limited partner in the Partnership in place of Crown Private Equity plc.

29 December 2017