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The statements and opinions expressed in this document and any related discussion (the document) are based on the information available as at the date of the document. Agraus reserves the right, but will be under no obligation, to review or amend this document to take account of additional or changed information. In preparing this document, Agraus has relied on forecasts and assumptions about future events which, by their nature, are not able to be verified. Inevitably some assumptions may not materialise and unanticipated events and circumstances are likely to occur. Therefore, actual results in the future will vary from the forecasts which Agraus has relied. These variations may be material. While Agraus believes that the content of this document is accurate, any recipient must make his or her own decision as to the sufficiency and relevance for its purposes of the information contained in this document and should undertake his or her own independent investigation of the information, after taking all appropriate advice from qualified professional persons Where this document contains track record information, Agraus has excluded information that relates to investments or asset classes that it regards as irrelevant, but each recipient should be aware that this document is not and does not purport to be a complete history of any person’s investing history. The recipient must also be aware that Agraus is a relatively young entity and as such previous investments which may be included in this document have been completed with other teams, whose personnel and resources are not replicated in their entirety at Agraus. Past performance is not a guide to future performance. In addition, the document contains information sourced from third parties. Accordingly, neither Agraus or any of its related companies, nor any of their respective directors, employees, advisors or shareholders will be liable to any recipient for errors or omissions from this document, whether arising out of negligence or otherwise. This document is not a recommendation by Agraus, any of its related companies, or any of their respective directors, employees, advisors or shareholders to invest. This document does not constitute financial product advice and you should seek advice before relying on it. In preparing this document, Agraus has not taken into account any investor’s objectives, financial situations or needs. An investment in any financial product involves a degree of risk and Agraus does not guarantee the performance of any asset or fund, the repayment of capital or any particular amount of return. This document, and all other information made available to the recipient in connection with it, is strictly confidential. This document may not be reproduced in whole or in part. Its content may not be disclosed to any other person for any purpose whatsoever. Upon request, any recipient will promptly return this document to Agraus, and confirm that it has destroyed all information derived from it. The information in this document is preliminary only. This document does not constitute an offer to invest or the solicitation of an offer to invest or an offer to provide investment management services in any jurisdiction to any person. A recipient may only provide this document to someone in circumstances that will result in compliance with any applicable laws and regulations. No representation is given that any action will be taken in any jurisdiction to permit a public offering of an investment or possession of this document. Where an asset has been described as having a certain value that value should, unless otherwise stated, be taken as an approximation of what Agraus considers in good faith to be the fair value of that asset. There is no single standard for determining the fair value of many assets and valuations in this document may differ from those generated by third parties. The fair value of an asset may not be realisable depending on a number of factors including the market conditions at the time of its disposition. Each recipient agrees to be bound by the above by accepting this document.