DISCLAIMER 

This message and the information contained herein is strictly confidential, proprietary and a trade secret of Arcadian Capital Management, LLC (together with its affiliates, “Arcadian Capital”).  It may not be distributed to any other party than the recipient hereof. By acceptance hereof, you (and your employees and affiliates) agree to maintain the confidentiality of this information contained herein and not release or reveal it (or any of the information in it) to any third party and, upon request from Arcadian Capital, will return or destroy such email and all copies thereof. 

This summary is for informational purposes only and it is not an offer or solicitation and may not be used or relied upon in connection with any offer or solicitation, with respect to this summary or any other future Arcadian Capital investment partnership. An offer or solicitation with respect to this summary or any other future Arcadian Capital investment partnership, if made, may only be made pursuant to the terms of a confidential offering memorandum, which will be furnished on a confidential basis to accredited and qualified investors at their request and for their consideration in connection with each such opportunity (the “Subscription Documents”).  Investments in securities involve risks, including risks of loss of the entire investment, and prospective investors should carefully review the Subscription Documents and conduct their own thorough investigation and due diligence before considering an investment. Investors should have the financial ability and willingness to accept the risk characteristics of the investments of Arcadian Capital. All information and disclosures in the Subscription Documents shall supersede information in this summary and any other information, written or oral, that has been provided with respect to any such investment opportunity. All of the information presented herein is subject to change without notice to you or any other recipient hereof. The material contained in this summary is directed only at qualified persons or entities in any jurisdiction where such access to information and its use is not contrary to applicable law or regulation. 
 
Any statements and forecasts contained herein are not historical facts but rather are based on assumptions, expectations, estimates, projections, and opinions, and involve known and unknown risks, uncertainties, and other factors. Actual events or results may differ materially from those reflected or contemplated in such statements. The numbers, projections and statistical data contained herein are based upon information obtained by sources believed to be reliable and accurate, but are not necessarily complete, cannot be guaranteed and no representations or warranty, express or implied, are made by Arcadian Capital or any other person as to their accuracy, completeness, or correctness. Errors and omissions are expected.  The projections regarding the likelihood of various investment outcomes are not guarantees of future results. Forward-looking information is based on numerous assumptions and is speculative in nature and may vary significantly from actual results. Certain performance data contained herein is based upon or includes the value of unrealized investments.  In many cases, the value of the unrealized investment is estimated due to the lack of a trading market.  There can be no assurance that estimated values or returns based on those values can be realized or that actual returns or results will not be materially lower than those stated herein. All third-party materials are the responsibility of their respective authors, creators, and/or owners.  Arcadian Capital is not responsible for third party materials, and the information reflects the opinion of its authors, creators, and/or owners at the time of its issuance, which opinions and information are subject to change at any time without notice and without obligation of notification.  These materials were obtained from sources believed to be reliable and presented in good faith, nevertheless, Arcadian Capital has not independently verified the information contained therein, and does not guarantee its accuracy or completeness. 

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Past performance of Arcadian Capital or its managers is not indicative of future results, and there can be no assurance that an investment opportunity will achieve comparable results in the future.  Performance is dependent on future events, and is therefore, inherently uncertain.  Business strategies vary, local and national economic circumstances vary, supply and demand characteristics vary, and varying degrees of competition and circumstances pertaining to an investment opportunity’s industry will occur. The information has no regard to the specific investment objectives, financial situation, or particular needs of any specific recipient, and is intended for informational purposes only and does not constitute a recommendation, or an offer, to buy or sell any securities or related financial instruments, nor is it intended to provide tax, legal or investment advice.  You must rely on your own financial and/or tax advice as to the implications (including tax) of investing in any of the companies mentioned.