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      <GeneralExplanationGrp>
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        <MediumExplanationTxt>ARMADAS FOUNDATIONEIN: 16-1622664STATEMENT ATTACHED TO AND MADE PART OF FORM 990RETURN OF ORGANIZATION EXEMPT FROM INCOME TAXFOR TAXABLE YEAR-ENDED SEPTEMBER 30, 2023STATEMENT FILED PURSUANT TO TREAS. REG. SEC. 1.6038B-1(C)AND TEMP. TREAS. REG. SEC. 1.6038B-1T(C)(1) NAME OF TRANSFEROR: ARMADAS FOUNDATION EIN: 16-1622664 ADDRESS: 137-05 72ND RD, FLUSHING, NY 11367(2) NAME OF TRANSFEREE: TCV XI ACCESS OFFSHORE SCSP EIN: 98-1564440 ADDRESS: 49 AVE J F KENNEDY, LUXEMBOURG I-1855COUNTRY OF INCORPORATION: LUXEMBOURGDURING THE TAX YEAR, CASH OF USD 31,041 WAS TRANSFERRED TOTCV XI ACCESS OFFSHORE SCSP BY ARMADAS FOUNDATION(3) CONSIDERATION RECEIVED: ARMADA FOUNDATION. RECEIVED 0 ORDINARY SHARES IN EXCHANGE FOR THE TRANSFER OF ASSETS DESCRIBED IN (2).(4) PROPERTY TRANSFERRED: ARMADAS FOUNDATION TRANSFERRED CASH WITH A FMV AND ADJUSTED BASIS OF USD 56,850.</MediumExplanationTxt>
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      <GeneralExplanationGrp>
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        <MediumExplanationTxt>ARMADAS FOUNDATIONEIN: 16-1622664STATEMENT ATTACHED TO AND MADE PART OF FORM 990RETURN OF ORGANIZATION EXEMPT FROM INCOME TAXFOR TAXABLE YEAR-ENDED SEPTEMBER 30, 2023STATEMENT FILED PURSUANT TO TREAS. REG. SEC. 1.6038B-1(C)AND TEMP. TREAS. REG. SEC. 1.6038B-1T(C)(1) NAME OF TRANSFEROR: ARMADAS FOUNDATION EIN: 16-1622664 ADDRESS: 137-05 72ND RD, FLUSHING, NY 11367(2) NAME OF TRANSFEREE: VINTAGE IX B OFFSHORE SCSP EIN: 98-1627664 ADDRESS: 49 AVE J F KENNEDY L-1855, LUXEMBOURGCOUNTRY OF INCORPORATION: GRAND DUCHY OF LUXEMBOURGDURING THE TAX YEAR, CASH OF USD 112,500 WAS TRANSFERRED TOVINTAGE IX B OFFSHORE SCSP BY ARMADAS FOUNDATION(3) CONSIDERATION RECEIVED: ARMADA FOUNDATION. RECEIVED 0 ORDINARY SHARES IN EXCHANGE FOR THE TRANSFER OF ASSETS DESCRIBED IN (2).(4) PROPERTY TRANSFERRED: ARMADAS FOUNDATION TRANSFERRED CASH WITH A FMV AND ADJUSTED BASIS OF USD 112,500.</MediumExplanationTxt>
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