(a) a person or partnership whose ordinary business or professional activity includes,
or it is reasonable to expect that it includes, acquiring, underwriting, managing,
holding or disposing of investments, whether as principal or agent, or the giving of
advice concerning investments;

(b) a body corporate which has net assets in excess of Euro1,000,000 or which is
part of a group which has net assets in excess of Euro1,000,000;

(c) an unincorporated association which has net assets in excess of Euro 1,000,000;

(d) the trustee of a trust where the aggregate value of the cash and investments
which form part of the trust’s assets in excess of Euro1,000,000;

(e) an individual whose net worth, or joint net worth with that person’s spouse,
is greater than Euro1,000,000, excluding that person’s principal place of residence;

(f) a participant who invests a minimum of Euro100,000 in the fund.

Further information in relation to the regulatory treatment of Experienced Investor
Funds in Gibraltar may be obtained from the Gibraltar Financial Services Commissioner.
Alternatively, If you have any doubt about the suitability of this investment, please
contact Quay Financials (Gibraltar) Limited (telephone calls may be recorded or monitored)
or your financial advisor.

Requirements which may be deemed necessary for the protection of retail or non-experienced
investors, do not apply to experienced funds. By acknowledging this statement you are
expressly agreeing that you fall within the definition of an “experienced investor” and
accept the reduced requirements accordingly.

The information in this website should not be construed as advice or as an inducement
to purchase; it is believed that the information provided is reliable, however, no guarantee
is provided by Quay Financials (Gibraltar) Limited as to its accuracy or completeness and
the Company, its directors and employees accept no liability or responsibility in respect
of the information provided.

Information on performance complies with Gibraltar legislation, however, please be aware
that the value of investments and/or any income generated may fall as well as rise and is
not guaranteed. The performance information detailed in this website is not an indication
of future performance and should you require income payments or drawdown facilities,
this may constitute a return of capital in whole or part of the payment received. Changes in
exchange rates may also affect the performance figures detailed.

Charges and commissions are payable on the investments detailed in the website, for full
details please obtain a copy of the offering memorandum at funds@quayfinancials.com.

The terms and conditions detailed may be subject to change without notification; by
accessing any page of this website you are accepting the terms and conditions and by
continued use you accept any subsequent changes. In addition, please note that this
website may contain links to other websites controlled or offered by third parties.
Following these links is at your own risk and no information detailed on the linked site
has been approved or substantiated by Quay Financials (Gibraltar) Limited.