ARDEN ASSET MANAGEMENT LLC No representation, warranty, or undertaking, express or implied, is given as to the accuracy or completeness of the information contained in this material by Arden Asset Management LLC ("Arden") or any other person; no reliance may be placed for any purpose on such information; and no liability is accepted by any person for the ccuracy and completeness of any such information. Past performance is not an indication of future performance and there can be no assurance that Arden or any of its portfolios will meet their investment objectives or achieve results in line with past performance. Future performance may be materially worse than past performance, causing substantial or total loss of investment. This promotional material is issued by Arden Asset Management LLC. Its content is approved, for distribution to eligible investors only, by Arden Asset Management (UK) Limited, under s21 of the Financial Services and Markets Act 2000. Arden Asset Management (UK) Limited is authorised and regulated by the Financial Services Authority. The promotion of Collective Investment Schemes in the United Kingdom is restricted by Section 238 of the Financial Services and Markets Act 2000 ("FSMA"). Units may only be offered or sold by an authorised person in the United Kingdom in accordance with section 238 of the Financial Services and Markets Act 2000, the Financial Services and Market Act 2000 (Promotion of Collective Investment Schemes-Exemptions) Order 2001 and Chapter 4 of the New Conduct of Business Sourcebook of the Financial Services Authority.