Following completion of the merger of UBS AG and Credit Suisse AG, Credit Suisse AG’s business was transferred to UBS AG, and Credit Suisse AG ceased to exist. At this time however, the two entities did not operationally merge and, as a result, we continue to have two sets of operational infrastructure and processes during this transitionary period.

Consequently UBS AG is now the sole parent entity and all direct subsidiaries of Credit Suisse AG have become direct subsidiaries of UBS AG, and all branches of Credit Suisse AG have been absorbed into existing or established as new branches of UBS AG (as the case may be). As such, Credit Suisse AG’s branches have been renamed as UBS Branches, with the exceptions of Credit Suisse AG, Taipei Securities Branch and Credit Suisse AG Shanghai Branch.

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Important Legal Information

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This message is being sent to you by Credit Suisse Securities (Europe) Limited and/or its subsidiaries or affiliates (collectively, "Credit Suisse") for information purposes only as part of its capital introduction services. The information provided does not constitute an offer or invitation for the purchase or sale of any investment. It does not constitute investment advice or a recommendation to buy or sell any investment and should not be relied upon as the basis for any investment decision. In providing capital introduction services, Credit Suisse is not acting as your fiduciary or advisor. It has not made any determination on whether investment in any fund is appropriate or suitable for any investor. Investors must make their own independent assessment (based on advice from such advisors and further verifications as they deem appropriate) as to whether investment in any fund is appropriate or suitable for them and as to whether they are able to invest in any fund. Investors should obtain a copy of any prospectus or other offering or subscription documents prior to making any investment decision. Credit Suisse has not made any determination on whether any fund, or its manager, is permitted to market, promote or sell any investment to any investor under applicable law. A fund, or its manager, must make its own independent assessment as to whether it is permitted to market, promote or sell any investment to any investor under applicable law. Any investment you make in any fund may have an indirect benefit to Credit Suisse as prime broker to such a fund or as a counterparty to a transaction with a fund, including derivative transactions. Credit Suisse may, to the extent permitted by law, effect transactions with or on behalf of a fund, or participate or invest in financing transactions with that fund, perform services or solicit business from such a fund or Manager and/or have a position or holding or other material interest in the fund. Credit Suisse may have received or may receive in the future prime brokerage or other transaction related compensation from the fund. Credit Suisse does not recommend or endorse any fund or Manager. Information provided may have been obtained from sources believed by Credit Suisse to be reliable but Credit Suisse makes no representation as to its accuracy or completeness and accepts no liability arising from the use of this information. This material is directed exclusively at Credit Suisse's market professional and institutional investor customers. Where you are acting on behalf of others, references to "you" or "your" include those entities on whose behalf you are acting. We refer you to our Capital Introduction Terms which set out in further detail the terms on which we make capital introductions to you.