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NDESANSTALT FOR FINANZDIENSTLEISTUNGSAUFSICHT - "BAFIN") AND INTERESTS IN THE FUND DESCRIBED IN THIS DOCUMENT ARE NOT ADMITTED OR REGISTERED WITH BAFIN FOR PUBLIC DISTRIBUTION IN GERMANY UNDER THE SECURITIES PROSPECTUS ACT (WERTPAPIERPROSPEKTGESETZ - "WPPG"), THE CAPITAL INVESTMENTS ACT (VERMO
E LAWS AND REGULATIONS OF SOUTH KOREA. Confidential & Trade Secret EFTA00609555 VALAR Private Placement Memorandum A-I2 NOTICE TO RESIDENTS OF KUWAIT: THIS MEMORANDUM AND ANY OTHER OFFERING MATERIALS, THE PARTNERSHIP AND INTERESTS HAVE NOT BEEN APPROVED OR LICENSED BY THE MINISTRY OF COMMERCE AND
NDESANSTALT FOR FINANZDIENSTLEISTUNGSAUFSICHT - "BAFIN") AND INTERESTS IN THE FUND DESCRIBED IN THIS DOCUMENT ARE NOT ADMITTED OR REGISTERED WITH BAFIN FOR PUBLIC DISTRIBUTION IN GERMANY UNDER THE SECURITIES PROSPECTUS ACT (WERTPAPIERPROSPEKTGESETZ - "WPPG"), THE CAPITAL INVESTMENTS ACT (VERM
Y, IN SOUTH KOREA OR TO ANY RESIDENT OF SOUTH KOREA, EXCEPT PURSUANT TO THE APPLICABLE LAWS AND REGULATIONS OF SOUTH KOREA. NOTICE TO RESIDENTS OF KUWAIT: THIS MEMORANDUM AND ANY OTHER OFFERING MATERIALS, THE PARTNERSHIP AND INTERESTS HAVE NOT BEEN APPROVED OR LICENSED BY THE MINISTRY OF COMMERCE AND
ICE PER OFFERED UNIT IS AT LEAST €200,000 FOR EACH OFFEREE, (Ill) THE OFFER IS TO A "RESTRICTED CIRCLE OF PERSONS’ AS THIS TERM IS INTERPRETED BY THE BAFIN AND THE GERMAN COURTS, OR (IV) THE OFFER IS TO INVESTORS WHO PURCHASE OR SELL SECURITIES OR INVESTMENTS (VERMOGENSANLAGEN) AS DEFINED IN THE GERMAN S
NITS OR THE EXERCISE OF ANY RIGHTS ATTACHED THERETO FOR THE PURPOSES OF THE FINANCIAL SERVICES (JERSEY) LAW 1998, AS AMENDED. NOTICE TO RESIDENTS OF KUWAIT THIS OFFERING HAS NOT BEEN APPROVED BY THE KUWAIT CENTRAL BANK OR THE KUWAIT MINISTRY OF COMMERCE AND INDUSTRY, NOR HAS THE COMPANY RECEIVED AUTHORI
Entities connected to both BAFIN and KUWAIT

MONACO
ORGANIZATION
Fannie Mae
ORGANIZATION
Prince Andrew
PERSONAIFMD
ORGANIZATION
United Arab Emirates
LOCATION
United States
LOCATION
BAHRAIN
LOCATION
China
LOCATION
ONTARIO
LOCATIONTHE ISRAELI SECURITIES LAW
ORGANIZATION
Hong Kong
LOCATION
New Zealand
LOCATION
Russia
LOCATIONthe Securities and Exchange Commission
ORGANIZATIONTHE SECURITIES EXCHANGE LAW OF
ORGANIZATIONEXCHANGE OF SECURITIES OR OTHER
ORGANIZATIONVERMOGENSANLAGENGESETZ
ORGANIZATIONDU SECTEUR FINANCIER
ORGANIZATIONTHE FOREIGN EXCHANGE
ORGANIZATION
LUXEMBOURG
LOCATION