Blanche Park Capital LLC (“BPC” or the “Company) is registered as an investment adviser with the Securities and Exchange Commission (the “SEC”). BPC is an investment management firm that provides advisory services to a number of family offices, including their affiliated entities, and other institutional investors. Any reference to BPC’s registration does not imply a certain level of skill or training. Neither the SEC nor any other regulator or state securities administrator has approved or disapproved, passed on, or endorsed, the merits of these securities.

Communication and Confidentiality. Emails, Presentations and other communication formats  ("Communication") that have been prepared by BPC are confidential. By accepting delivery of it, each recipient agrees to maintain the confidentiality of the information contained therein and not to copy, reproduce or distribute such information to any other person, at any time, without the prior written consent of the Company, or use such information for any purpose other than as described below, except as expressly permitted in a confidentiality agreement between recipient and the Company.

No Representation. All information presented in such Communication with respect to the existing business and historical operating results of the Company and estimates and projections as to future operations are based on materials prepared by BPC and their respective management. Although the information contained therein is believed to be complete and accurate, BPC makes no representation as to the completeness or accuracy of such information. BPC expressly disclaim any and all liability for representations, express or implied, contained in, or for omissions from, this Communication or in other communications with or to recipient during the course of recipient’s investigation and evaluation of the Company. Any estimates and forecasts contained therein involve significant elements of subjective judgement and analysis that may or may not be correct. There is no representation that the projections will be realized; the actual results could vary from such projections and such variations could be material.

Information from Third Parties. Certain information has been provided by and/or is based on third party sources and although believed to be reliable has not been independently verified and its accuracy, timeliness or completeness cannot be guaranteed. 

No Guarantees. Any descriptions involving investment process, models, statistical analysis, investment strategies, and styles are provided for illustration purposes only, may not be indicative of future investments, and are not intended to reflect actual performance or to project performance. Investments for a Client are selected by and will vary in the sole discretion of BPC and are subject to availability and market conditions, among other things. No representation is made that BPC’s risk management, investment process or investment objectives will or are likely to be achieved or successful or that a Fund or any of its investments will make any profit or will not sustain losses.

Performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Unless otherwise indicated, performance results are net of applicable fees and expenses and presume reinvestment of income. No representation is made that a Client or any underlying investment will make any profit or will not sustain losses, including the full loss of investor principal.

Forward-Looking Statements. Any assumptions, assessments, intended targets, statements or the like (collectively, “Statements”) regarding future events or which are forward-looking constitute only subjective views, outlooks, estimations or intentions, are based upon the Company’ expectations, intentions or beliefs, should not be relied on, are subject to change due to a variety of factors, including fluctuating market conditions and economic factors, and involve inherent risks and uncertainties, both general and specific, many of which cannot be predicted or quantified and are beyond the BPC’s control. Future evidence and actual results (including actual composition and investment characteristics of a Client’s portfolio) could differ materially from those set forth in, contemplated by, or underlying these Statements. In light of these risks and uncertainties, there can be no assurance and no representation is given that these Statements are now or will prove to be accurate or complete in any way. BPC undertake no responsibility or obligation to revise or update such Statements.

Descriptions of Process. Any descriptions or information involving investment objectives or criteria, investment process, or investment strategies are provided for illustration purposes only, may not be fully applicable to a Client, may not be fully indicative of any present or future investments, may be changed in the discretion of the advisers or their affiliates and are not intended to reflect actual performance or to project performance.

Risks. This information is as of the date(s) indicated, is not complete, is subject to change. An investment may involve a high degree of risk and volatility including, without limitation, risk of adverse or unanticipated market developments, currency and exchange rate risks, risk of broker or bank failure or counterparty or issuer default, and risk of illiquidity.

No Solicitation. This information does not constitute an offer to sell or a solicitation of an offer to purchase any security, including interest in any investment vehicles managed by BPC.

No Tax Advice. BPC does not provide tax, accounting, or legal advice. Any statement regarding such matters is explanatory and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment.