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Investor Application, shall have any legal effect. The Administrator is registered as a "commodity pool operator" with the CFTC and is a member of the National Futures Association ("NFA") in such capacity under the U.S. Commodity Exchange Act, as amended. With respect to the AlphaKeys Fund, the Administrator has claimed an ex
ole discretion, to make such an offer to one or more Investors and not to the other Investors, and may do so without notice to the other Investors. No Assurance of Investment Return. The AlphaKeys Fund is intended for long-term Investors who can accept the significant risks associated with investing in illiquid securities. There
L CONFIDENTIAL UBSTERRAMAR00002263 EFTA00237819 The Administrator is registered as a "commodity pool operator" with the CFTC and is a member of the National Futures Association ("NFA") in such capacity under the U.S. Commodity Exchange Act, as amended. With respect to the AlphaKeys Fund, the Administrator has claimed an e
le discretion, to make such an offer to one or more Investors and not to the other Investors, and may do so without notice to the other Investors. No Assurance of Investment Return. The AlphaKeys Fund is intended for long-term Investors who can accept the significant risks associated with investing in illiquid securities. ML2
L CONFIDENTIAL UBSTERRAMAR00001210 EFTA00236856 The Administrator is registered as a "commodity pool operator" with the CFTC and is a member of the National Futures Association ("NFA") in such capacity under the U.S. Commodity Exchange Act, as amended. With respect to the AlphaKeys Fund, the Administrator has claimed an e
le discretion, to make such an offer to one or more Investors and not to the other Investors, and may do so without notice to the other Investors. No Assurance of Investment Return. The AlphaKeys Fund is intended for long-term Investors who can accept the significant risks associated with investing in illiquid securities. -MA
Entities connected to both the National Futures Association and No Assurance of Investment Return

United States
LOCATION
Ghislaine Maxwell
PERSON
UBS AG
ORGANIZATIONCayman
LOCATION
Paul Volcker
PERSONthe U.S. Investment Company Act
ORGANIZATIONClasses of Interests
ORGANIZATIONthe Investor Application
ORGANIZATIONBank Holding Company Act Considerations
ORGANIZATIONKeogh
ORGANIZATIONthe District of Columbia
LOCATIONthe Underlying Fund Management Fee
ORGANIZATION
U.S. Treasury
ORGANIZATION
the Internal Revenue Service
ORGANIZATIONErnst & Young LLP
ORGANIZATIONThe Master Partnership's Organization
ORGANIZATIONthe New York Stock Exchange
ORGANIZATIONCustodian
ORGANIZATION
Millennium
ORGANIZATIONthe Federal Reserve System
ORGANIZATION