MONTAGU III LP

(Registered No. LP010500)

(the "Partnership")

Notice is hereby given that, pursuant to section 10 of the Limited Partnerships Act 1907, with effect from 31 December 2017 Partners Group Europe 2002, L.P. transferred to Carey Trustees Limited as trustee of The Panan Purpose Trust all of the interest held by it in the Partnership (represented by a Capital Contribution of €140.00) and that with effect from such date Partners Group Europe 2002, L.P. ceased to be a limited partner and Carey Trustees Limited as trustee of The Panan Purpose Trust became a limited partner in the Partnership.

For and on behalf of

Montagu Private Equity LLP

in its capacity as Manager of

Montagu III LP