Disclaimer Accept

This document is confidential and is intended solely for the information of the person to which it has been delivered by Copper Street Capital LLP (the “Investment Manager“). It is not to be reproduced or transmitted, in whole or in part, by any means, to third parties without the written, prior consent of the Investment Manager.

This document is not intended to be, nor should it be construed or used as an offer to sell, or a solicitation of any offer to buy, interests in the Fund. No offer or solicitation may be made prior to the delivery of a definitive private placement offering memorandum. Certain information contained in this letter constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “target”, “project”, “estimate”, “intend”, “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual policies, procedures and processes of the Investment Manager and the performance of the Fund may differ materially from those reflected or contemplated in such forward-looking statements and no undue reliance should be placed on these forward-looking statements, nor should the inclusion of these statements be regarded as the Investment Manager’s representation that the Fund will achieve any strategy, objectives or other plans. Unless otherwise indicated, the information contained in this letter is current as of the date indicated on its cover. Additionally, there is no obligation to update, modify or amend this letter or to otherwise notify a reader in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. Nothing contained herein should be deemed to be a prediction or projection of future performance of the Fund.