Disclosures

OAC Capital Advisors and OAC are the marketing names for the advisory and investment management activities of Octogone Advisors (Cayman) Ltd. (“OKY”) in the Cayman Islands and OAC Capital Advisors LLC (“OUS”) in the United States and “OAC” when referred to together in this document. OKY and OUS are affiliated by common ownership and may maintain mutually associated personnel.

Cayman Islands: Octogone Advisors (Cayman) Limited is registered as a Registered Person with the Cayman Islands Monetary Authority under the Securities Investment Business Act.

United States: OAC Capital Advisors LLC is registered with and regulated by the U.S. Securities and Exchange Commission.

None of the Cayman Islands Monetary Authority, U.S. Securities and Exchange Commission, or other governmental or regulatory entity has endorsed this document or the services and products provided by OKY and OUS.

This is OAC’s current assessment of the market. It is provided for informational purposes only and should not be considered a recommendation to buy or sell securities or a guarantee of future results. This document does not constitute and shall not be construed as a prospectus, advertisement, public offering or placement of, nor a recommendation to buy, sell, hold or solicit, any investment, security, other financial instrument or other product or service. It is not intended to be a final representation of the terms and conditions of any investment, security, other financial instrument or other product or service. No person has been authorized to give any information or to make any representation, warranty, statement or assurance not contained in the offering documents for any specific investment. This document is for general information only and is not intended as investment advice or any other specific recommendation as to any particular course of action or inaction. The information in this document does not take into account the specific investment objectives, financial situation or particular needs of the recipient. You should seek your own professional advice suitable to your particular circumstances prior to making any investment or if you are in doubt as to the information in this document. Such information is preliminary and subject to change without notice.

Recipients of this presentation should not construe the contents of this document as legal, tax or financial advice or as a personal recommendation. Accordingly, prospective investors should consult their professional advisers as to the legal, tax or financial consequences that may be relevant to the purchase, holding or disposal of shares or interests described in this presentation and in relation to any other queries which they may have in relation to such investments. In no event will OKY, OUS or their affiliates assume any liability for any loss or damage of any kind arising out of the use of the information contained in this document.

This information may be taken, in part, from external sources. We believe these external sources to be reliable, but OAC does not guarantee the accuracy or completeness of the information in this document, nor does OAC undertake to update this information. Information and data is presented for informational purposes only and is not audited (unless otherwise indicated). Furthermore, such information may be incomplete or condensed. Any portfolio composition shown and/or investments described herein, as well as the opinions and results discussed may change without notice. Any opinions in this document are subject to change without notice.

Alternative Investments can be highly illiquid and may engage in leveraging and other speculative investment practices, which may involve volatility of returns and significant risk of loss, including the potential for loss of the principal invested. No assurances can be given that the investment objectives will be achieved, and investment results may vary substantially over time. Investors should be aware that there may be no secondary market available, and that there may be restrictions on transferring interests in alternative investments. Additional information can be found in a confidential private placement memorandum. Alternative Investments are not suitable for all investors. Investing in Alternative Investments is intended for experienced and sophisticated investors only who are willing to bear the high economic risks of the investment. Investors should carefully review and consider potential risks before investing. These risks may include: losses due to leveraging, short-selling, and other speculative practices, lack of liquidity, absence of information regarding valuations and pricing, counterparty default, complex tax structures and delays in tax reporting and less regulation. Diversification from traditional market investments does not guarantee a profit or protect against a loss.

Structured products are not suitable for all investors, and involve certain risks, as reflected by the risks of specific components of the products. Structured products are intended for investors who have knowledge and experience sufficient to evaluate and assess such risks. In particular, the value of the instruments may fluctuate at any time between the issue date and the maturity date. A Principal Protected Note provides protection of principal only if the instrument is held to maturity and the guaranteeing entity is able to meet its guarantee. Investors should also consider carefully the fees and costs built into any such product, especially products that need to be renewed periodically. Principal Protected Notes are not insured by the Federal Deposit Insurance Company (FDIC) or any other U.S. or non-U.S. Government Agency, and no liquid secondary market exists for the instrument.

Benchmarks and indices represent a larger universe of securities than is contained in client portfolios, and further, the indices do not bear fees and expenses. This will cause their performance to vary from the performance of client portfolios, and they may have less volatility than client portfolios.

Benchmark and index data included in this document are provided for illustrative purposes only. The portfolio and/or services mentioned do not formally track any such benchmarks or indices and no representation is made as to relative future performance or tracking deviation. Legal, accounting and tax restrictions, transaction costs and changes to any assumptions may significantly affect the economics and results of portfolio transactions or investment.

Please note that past performance is not necessarily a guide to future performance, and the value of investments and the income from them may decrease as well as increase and you may not get back the full amount invested. Fluctuations in exchange rates may affect the value of your investment.

Returns presented on a gross basis are substantially higher than returns presented on a net basis because gross returns do not reflect the deduction of investment advisory fees and other expenses that would be incurred by a client. Investment advisory fees have a compounding effect in reducing the value of a client portfolio over time.

It should not be assumed that results for historic portfolio investments or investment strategies will be achieved for other investments or in the future. Market conditions can vary widely over time and can result in a loss of portfolio value. No guarantee or representation is made that any investment strategy, fund or account will achieve its investment objective or have positive returns. The returns of a client investment in any OAC investment strategy will be reduced by the advisory fees and by any other expenses a client may incur in the management of its account. Advisory fees have a compounded effect in reducing account performance over time.

Assets of U.S. clients will be managed by OAC Capital Advisors LLC (“OUS”), and not by OKY or another affiliate. U.S. client access, if any, to OKY or other non-U.S. affiliates, if any, therefore, will vary as compared to the access of a client that is directly managed by OKY or other non-U.S. affiliate.

This document is not intended for distribution in the United States or for the account of U.S. persons (as defined in Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”)) except to persons who are “qualified purchasers” (as defined in the United States Investment Company Act of 1940, as amended (the “Investment Company Act”)) and/or “accredited investors” (as defined in Rule 501(a) under the Securities Act). Certain securities referred to in this document will not be registered under the Securities Act or qualified under any applicable state securities statues. Certain funds referred to in this document will not be registered as investment companies under the Investment Company Act.

This document was prepared by OAC Capital Advisors LLC. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. A professional advisor should be consulted before implementing any of the strategies presented. Content should not be construed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein.

This website is a publication of OAC Capital Advisors LLC. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change.

Information on this website does not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the strategies presented. Content should not be construed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein.

Hyperlinks on this website are provided as a convenience, and we disclaim any responsibility for information, services or products found on websites linked hereto.

OAC Capital Advisors LLC is registered as an investment advisor and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment advisor does not constitute an endorsement of the firm by securities regulators nor does it indicate that the advisor has attained a particular level of skill or ability. The firm is not engaged in the practice of law or accounting.

All investment strategies have the potential for profit or loss. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for a client’s investment portfolio.

The availability of this document in any jurisdiction or country may be contrary to local law or regulation and persons who come into possession of this document should inform themselves of and observe any restrictions. This presentation is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use is prohibited by law or regulation.

No part of this presentation may be reproduced in any form, or referred to in any other written materials, without the written permission of OAC. This document may not be reproduced, disclosed or distributed (in whole or in part) to any other person without prior written permission from an authorized member of OAC.