This Presentation does not constitute an offer to sell or a solicitation of an offer to buy shares in the Fund in any jurisdiction to any person to whom it is unlawful to make such an offer or sale. Particually this Presentation is addressed neither to the residents of the USA, UK, Canada, Australia, Japan, nor to investors in other jurisdictions, unless this is permitted to particular investors in special circumstances provided for the laws of their home jurisdiction. Neither the Fund, the Directors of the Fund, the Administrator nor the Investment Manager accept no liability for using the offering materials or buying shares in the Fund by the investors which are not permitted to do so under the laws of their home jurisdiction.

No public or other market is expected to develop for the shares in the Fund. The shares in the Fund offered hereby may be sold, transferred, hypothecated or otherwise disposed of only upon the terms set out in Offering Memorandum and the Articles of Association of the Fund which include the requirement to obtain the prior approval of the Directors which may be withheld without the provision of any reasons. The Fund has the right to compulsorily redeem the shares of an investor in certain circumstances.

Investment in the Fund involves special risks, and purchase of the shares in the Fund should be considered only by persons who can bear the economic risk of their investment for an indefinite period and afford a total loss of their investment (see Risk Factors in the Offering Memorandum).

The Fund reserves the right to modify, withdraw or cancel any offering made pursuant to the Offering Memorandum at any time prior to consummation of the offering and to reject any subscription, in whole or in part, in its sole discretion.

No offering materials will or may be employed in the offering of shares in the Fund except for the Offering Memorandum (including appendices, exhibits, amendments and supplements hereto) and the documents summarised herein. No person has been authorised to make representations or give any information with respect to the Fund or its shares except for the information contained in the Offering Memorandum. Investors should not rely on information not contained in the Offering Memorandum or the documents summarised herein.

This Presentation is intended solely for use on a confidential basis by those persons to whom it is transmitted by the Fund in connection with the contemplated offering of shares in the Fund. Recipients, by their acceptance and retention of this Presentation, acknowledge and agree to preserve the confidentiality of the contents of this Presentation and all accompanying documents and to return the Presentation and all such documents to the Fund or the Administrator if the recipient does not purchase any shares in the Fund. Neither the Presentation nor any of the accompanying documents may be reproduced in whole or in part, nor may they be used for any purpose other than that for which they have been submitted, without the prior written consent of the Fund.

Neither the Fund, the Administrator nor the Investment Manager is making any representation to any offeree or investor in the Fund regarding the legality of investment by such offeree or investor under applicable legal investment or similar laws.

Neither the Fund, the Directors of the Fund, the Administrator nor the Investment Manager give any guarantees in respect of investment returns.

This Offering Memorandum of the Fund is based on the law and practice currently in force in the British Virgin Islands and is subject to changes therein. The Offering Memorandum and the shares offered hereby have not been and will not be registered under the laws and regulations of the British Virgin Islands. However, as a professional fund constituted under the laws of the British Virgin Islands, the Fund is required to be and is recognised under the provisions of the Securities and Investment Business Act, 2010 (as amended) ("SIBA").

This Presentation should be read in conjunction with the Offering Memorandum and Memorandum and Articles of Association of the Fund.

Investors are not to construe the contents of this Presentation as legal, business or tax advice. Each investor should consult their own attorney, business advisor and tax advisor as to legal, business, tax and related matters concerning this offering.

The Presentation is based upon sources believed to be reliable, but no representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of such information.