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bligated to agree to be bound by all of the terms of the LLC Agreement. Each potential investor also will be obligated to represent and warrant in the Investor Application, among other things, that such investor is purchasing an Interest for its own account, and not with a view to the distribution, assignment, transfe
affiliate may hold a nominal Interest in, and may be an investor of, the AlphaKeys Fund. The Administrator is a direct, wholly owned subsidiary of UBS Americas, Inc. ("UBS Americas") which, in turn, is a wholly owned subsidiary of UBS AG, a Swiss bank. The Placement Agent, a wholly owned subsidiary of UBS Americ
vant thereto. Notwithstanding anything to the contrary provided in any offering document relating to the AlphaKeys Fund (including this Memorandum, the Investor Application and the AlphaKeys Fund Agreement), each Investor or prospective Investor (and each employee, representative, or other agent of the Investor or pros
, the Underlying Fund Manager or any affiliate, officer, director, member or partner or other affiliate of any of them. None of the AlphaKeys Fund, UBS Americas, Inc. or any of its affiliates has the right to participate in the control, management or operations of the Underlying Fund, nor has any discretion over
vant thereto. Notwithstanding anything to the contrary provided in any offering document relating to the AlphaKeys Fund (including this Memorandum, the Investor Application and the AlphaKeys Fund Agreement), each Investor or prospective Investor (and each employee, representative, or other agent of the Investor or pros
, the Underlying Fund Manager or any affiliate, officer, director, member or partner or other affiliate of any of them. None of the AlphaKeys Fund, UBS Americas, Inc. or any of its affiliates has the right to participate in the control, management or operations of the Underlying Fund, nor has any discretion over
Entities connected to both the Investor Application and UBS Americas, Inc.

Ghislaine Maxwell
PERSON
UBS AG
ORGANIZATIONClasses of Interests
ORGANIZATION
United States
LOCATIONNo Assurance of Investment Return
ORGANIZATIONErnst & Young LLP
ORGANIZATION
Paul Volcker
PERSONthe Underlying Fund Management Fee
ORGANIZATION
the Internal Revenue Service
ORGANIZATION
U.S. Treasury
ORGANIZATIONthe District of Columbia
LOCATIONCayman
LOCATIONBank Holding Company Act Considerations
ORGANIZATION
Federal Reserve
ORGANIZATIONAlphaKeys
ORGANIZATIONthe "Administrative Services Agreement
ORGANIZATIONthe New York Stock Exchange
ORGANIZATION
FDIC
ORGANIZATIONTrigger Event
ORGANIZATIONCustodian
ORGANIZATION