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SUBJECT TO CERTAIN EXCEPTIONS, THE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS LOCATED IN THE UNITED STATES OR BY U.S. PERSONS (AS DEFINED IN REGULATION S (“REGULATION S”) UNDER THE U.S. SECURITIES ACT OF 1933 (THE “SECURITIES ACT”)) AND THE MATERIALS ARE NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED UNDER REGULATION S).

The materials are only addressed to and directed at persons in member states of the European Economic Area (“EEA”) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) (the “Prospectus Directive”) (“Qualified Investors”). In addition, in the United Kingdom (“UK”), any material is being distributed only to, and is directed only at, Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) and Qualified Investors falling within Article 49 of the Order, and (ii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). No material must be acted on or relied on (i) in the UK, by persons who are not relevant persons, and (ii) in any member state of the EEA other than the UK, by persons who are not Qualified Investors. Any investment or investment activity to which the materials relate are available only to (i) in the UK, relevant persons, and (ii) in any member state of the EEA other than the UK, Qualified Investors, and will be engaged in only with such persons. The materials do not comprise a prospectus approved in accordance with the Prospectus Rules made under Part VI of the Financial Services and Markets Act 2000 of the UK (the “Prospectus Rules”). The materials are an advertisement for the purposes of the Prospectus Rules and no person should subscribe for any securities referred to in any material except on the basis of information contained in the prospectus dated 01/29/2016.

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The forward-looking statements in this website or any material are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, management's examination of historical operating trends, data contained in the records of the Caruna Group Companies and other data available from third parties. Although the Caruna Group Companies believe that these assumptions were reasonable when made, these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, and the Caruna Group Companies may not achieve or accomplish these expectations, beliefs or projections. None of the Caruna Group Companies, nor any of their members, directors, officers, agents, employees or advisers intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in the presentations. These reports should not be relied on as a guide to future performance, and should not be relied on in deciding whether to undertake future investment in the Caruna Group Companies. None of the Caruna Group Companies is obliged, nor accepts any obligation, to update the information on this website, and none of the Caruna Group Companies guarantees that the information on this website and the materials are up-to-date or accurate. No part of any material, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.

Certain information contained in the materials is derived from information provided to or obtained by the relevant Caruna Group Company from third party sources. Accordingly, whilst those sources are believed to be reliable and accurate, none of the Caruna Group Companies guarantees the accuracy, completeness or fairness of the materials or opinions contained therein and they should not be relied on as such. It should be noted that auditors of the Caruna Group Companies have not reviewed the information in the materials and the information contained in any material has not been independently verified.

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