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the LLC Agreement). The Administrator is a direct, wholly owned subsidiary of UBS Americas, which, in turn, is a direct, wholly owned subsidiary of UBS AG (together with its affiliates, "UBS"). Prospective investors should not construe the contents of this Memorandum as legal, investment, tax or other
Fund may elect to return any amounts previously debited from the Members, plus any interest thereon, and such Member's Interest may be terminated. Classes of Interests in the Underlying Fund are Not Separate Legal Entities Although investors of the Underlying Fund, including the AlphaKeys Fund, may hold separate cl
he Administrator is an indirect, wholly owned subsidiary of UBS Americas, Inc. (the "UBS Americas") which, in turn, is a wholly owned subsidiary of UBS AG (together with its affiliates, "UBS"), a Swiss bank. UBSFS, a wholly owned subsidiary of UBS Americas, is registered as a broker-dealer under the
local level. Quarterly reports from the Administrator regarding the AlphaKeys Fund's operations during such period also may be sent to Investors. Classes of Interests in both the Underlying Fund and AlphaKeys Fund, respectively, are Not Separate Legal Entities. Although Investors of the Underlying Fund, including
he Administrator is an indirect, wholly owned subsidiary of UBS Americas, Inc. (the "UBS Americas") which, in turn, is a wholly owned subsidiary of UBS AG (together with its affiliates, "UK") a Swiss bank. UBSFS, a wholly owned subsidiary of UBS Americas, is registered as a broker-dealer under the U.S
local level. Quarterly reports from the Administrator regarding the AlphaKeys Fund's operations during such period also may be sent to Investors. Classes of Interests in the Underlying Fund are Not Separate Legal Entities. Although Investors of the Underlying Fund, including the AlphaKeys Fund and certain Other A
he Administrator is an indirect, wholly owned subsidiary of UBS Americas, Inc. (the "UBS Americas") which, in turn, is a wholly owned subsidiary of UBS AG (together with its affiliates, "UK") a Swiss bank. UBSFS, a wholly owned subsidiary of UBS Americas, is registered as a broker-dealer under the U.S
local level. Quarterly reports from the Administrator regarding the AlphaKeys Fund's operations during such period also may be sent to Investors. Classes of Interests in the Underlying Fund are Not Separate Legal Entities. Although Investors of the Underlying Fund, including the AlphaKeys Fund and certain Other A
Entities connected to both UBS AG and Classes of Interests

Ghislaine Maxwell
PERSON
United States
LOCATION
U.S. Treasury
ORGANIZATIONCayman
LOCATION
Samantha Power
PERSON
New York
LOCATION
Federal Reserve
ORGANIZATION
FDIC
ORGANIZATIONthe Southern District
LOCATION
Philadelphia
LOCATION
the Internal Revenue Service
ORGANIZATIONErnst & Young LLP
ORGANIZATIONUBS Fund
ORGANIZATIONthe New York Stock Exchange
ORGANIZATION
Millennium
ORGANIZATIONthe U.S. Investment Company Act
ORGANIZATIONAlphaKeys
ORGANIZATIONUBS Fund Advisor
ORGANIZATION
Paul Volcker
PERSONAdministrative Services
ORGANIZATION