ICG events - disclaimer and privacy

For institutional/professional/accredited investors only

This document is being provided to you by the subsidiaries or affiliates of Intermediate Capital Group plc (“ICG”, and together with their respective directors, officers, employees, partners, members, shareholders, advisers and agents, as the context requires, “the ICG Parties”) on a strictly confidential basis and no part may be reproduced or redistributed in any form, by any means without the prior express written consent of ICG. This document is intended only for information purposes and convenient reference and does not create any legally binding obligation on any of the ICG Parties. The ICG Parties expressly dis claim any liability for the use, misuse, or distribution of this information to unauthorised recipients.

This document: (i) is not intended as an offer or solicitation with respect to the purchase or sale of any security or financial instrument; ii) is not to be relied upon in evaluating the merits of investing in any securities; and (iii) is provided solely as reference material for background purposes. You should be aware that investing in a fund sponsored by ICG (an “ICG Fund”) involves a high degree of risk, and there can be no assurance that an ICG Fund’s invest men t objective will be achieved or that you will receive a return on your capital. The possibility of partial or total loss of capital from an investment in an ICG Fund will exist and you must be prepared to bear such losses. You should refrain from investing in an ICG Fund unless you fully understand all the risks involved and you independently determine that the investment is suitable for you. ICG is not your designated investment advisor.

ICG may encounter potential conflicts of interest in connection with the activities of an ICG Fund. Please see the applicable ICG Fund’s offering memorandum or any other such similar documents for additional information. A private offering of interests in an ICG Fund may only be made pursuant to the final confidential private placement memorandum for the fund and any supplements (or any other such similar documents) thereto (the “Memorandum”) and the fund’s governing and subscription documents (together, the “Offering Documents”), which may be furnished to qualified investors on a confidential basis at their request for their consideration in connection with such offering. The information contained herein will be superseded by and is qualified in its entirety by reference to the Offering Documents, which contains additional information about the investment objective, terms and conditions of an investment in the fund and also contains tax information and risk and conflict of interest disclosures that are important to any investment decision regarding the fund. No person has been authorized to give any information or make any representations other than as contained in the Memorandum and, if given or made, any such information or representation must not be relied upon as having been authorized by the fund or any of the ICG Parties. A prospective investor should not invest in any fund interests unless satisfied that it (alone or together with its investment representative) has asked for and received all information that would enable the investor (or both of them) to evaluate the merits and risks of the proposed investment.

Although certain information has been obtained from, and is based upon sources that we consider reliable, none of the ICG Parties guarantee its accuracy, and it may be incomplete or condensed. All opinions, projections and estimates constitute the judgement of the ICG Parties, as of the date of the document and are subject to change without notice. The ICG Parties make no representation or warranty, express or implied as to the fairness, correctness , accuracy or completeness of this document. The ICG Parties accept no responsibility for any loss arising for any action taken or not taken by anyone using the in formation contained herein. This document is not to be relied upon in substitution for the exercise of independent judgement. ICG may have issued, and may in the future issue, other communications that are inconsistent with, and reach different conclusions from, the information contained herein. This document reflects the different assumptions, views and analytical methods of the analysts who prepared them and ICG is under no obligation to ensure that such communications are brought to the attention of any recipient of this document. Past performance should not be taken as an indication or guarantee regarding future performance, and no representation or warranty, express or implied is made regarding future performance. Moreover, certain information contained herein constitute “forward looking statements,” which may be identified by the use of forward looking terminology such as “may,” “will”, “should,” “expect,” “anticipate,” “target,” “project,” “forecast,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Any forward looking statements or results in this presentation are based upon current assumptions, may be simplified and may depend on events outside ICG’s control. Due to various risks and uncertainties actual events or results or the actual performance of the fund may differ materially from those reflected or contemplated in such forward looking statements. Statement s herein are made as of the date hereof unless stated otherwise herein.

This document has been issued and approved for distribution by ICG Europe SARL, a wholly-owned subsidiary of ICG PLC and authorised and regulated by the Luxembourg Commission de Surveillance du Secteur Financier, with delegated management to Alternative Investment Limited (ICG AIL) also a wholly-owned subsidiary of ICG PLC and authorised and regulated by the UK Financial Conduct Authority [FRN:606186]. Both IGC Europe SARL and ICG AIL has filed certain portions of Form ADV with the US Securities and Exchange Commission (SEC) as an exempt reporting adviser and have certain limited reporting obligations to, and may be subject to examination by, the SEC, but is not registered as an investment adviser under the US Investment Advisers Act 1940. This document is not intended to provide, and should not be relied upon, for accounting, legal, tax advice or investment recommendations. You should consult your tax, legal, accounting or other advisors about the issues discussed herein. This document is neither investment research nor a research recommendation as defined by the FCA.

For the avoidance of doubt, this document will not be issued to or directed at, and any investment in an ICG Fund will not be available to, persons in any country where such actions would be contrary to local laws or regulations in that relevant country. This document is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.