Disclaimer and Risk Disclosure Statement

The materials published on this website are marketing materials (hereinafter the “Marketing
materials”). The information contained in these Marketing materials is provided for
informational purposes only. Every effort has been made to ensure that the information
contained in this website is clear and free from any material misstatement. However,
Ttaking into account possible changes in the applicable legislation, rules or any regulatory
requirements the information contained herein may have gaps or inaccuracies. Information
does not constitute any legal, accounting, tax or other recommendation, consultation or
advice and should not be construed as such. Therefore, in evaluating any investment
products or strategies, each recipient must determine independently (with information from
his/her own tax, accounting, financial and legal advisors) the appropriateness of any
financial instruments or transactions before investing.

While every care has been taken in preparing the Marketing materials, no director, officer,
employee, agent or adviser of any affiliate of Polyvalent Capital Management Limited gives
or makes any representation, warranty or undertaking, whether express or implied, and
accepts no responsibility or liability as to the reliability, accuracy or completeness of the
information set out in Marketing materials, and takes no responsibility for any decision or
action based on this information taken by the recipient of the Marketing materials, as well as
for any consequences, including incurred losses.

The content of this site is of a general nature and is not addressed to any particular
individual or entity or any particular needs or investment objectives and/or legal, accounting,
regulatory, taxation or financial situation. It is provided exclusively for informative purposes
and you are solely responsible for forming your own opinions and conclusions and for
making your own independent assessment The information contained in this website is not
intended and should not be used or construed as an offer to sell, or a solicitation of any offer
to buy, securities of any fund or other investment product in any jurisdiction. Nothing in this
website should be interpreted as advice or a recommendation for the purchase or sale of
any financial instrument or any other product or service, to any person in any jurisdiction
where such solicitation, offer, recommendation, purchase or sale would be unlawful under
the laws of that jurisdiction.

It should be known that there are substantial risks in investing in the funds. Investors should
independently evaluate the embedded risks without solely relying on the information
provided here. Unless otherwise specified, Investors alone are solely responsible for
determining whether any investment, security or strategy or any other product or service, is
appropriate or suitable for you based on your investment objectives and personal and
financial situation. Investors should always seek their own independent professional advice.
Performance and risk data provided are based on specific parameterization. Past
performance should not be used as an indication or guarantee of future performance.
Investment return and principal value may go down as well as up and could result in
significant losses of the capital invested.

The above summary is not a complete list of the risks and other important disclosures
involved in investing in funds. Before making any investment in a fund, investors are advised
to thoroughly and carefully review offering documentation with their financial, legal and tax advisors to determine whether an investment is suitable.

Rendering certain types of services might require the license or permission and such
services might be provided only by the Company or any other company having the relevant

We may modify or amend this Disclaimer from time to time and you are advised to visit our
website regularly to check for any amendments. Any material changes will be communicated
to you through an appropriate channel, depending on how we normally communicate with