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terminate cross-border business serving private clients out on non SEC registered entities. Disposition: Disgorgement (5200,000,000 is to the SEC); Back Taxes Payment, Monetary Sanctions: 5380,000,000; 5400,000,000 16. Date of Action: December 2008 Brought By: Swiss Federal Banking Commission Allegations: The
76 CONFIDENTIAL UBSTERRAMAR00004079 EFTA00239411 FOR EXISTING INVESTOR USE ONLY Certain Tax Matters Relating to the Master Partnership Certain Cayman Islands Tax Matters THE FOLLOWING IS A SUMMARY OF CERTAIN CAYMAN ISLANDS TAX CONSEQUENCES TO PERSONS WHO PURCHASE INTERESTS IN THE OFFERING. THE DISCUSSION IS BASED U
terminate cross-border business serving private clients out on non SEC registered entities. Disposition: Disgorgement (5200,000,000 is to the SEC); Back Taxes Payment, Monetary Sanctions: 5380,000,000; 5400,000,000 16. Date of Action: December 2008 Brought By: Swiss Federal Banking Commission Allegations: The
itted by any of Millennium's employees or agents or persons acting on their behalf. Certain Tax Matters Relating to the Master Partnership Certain Cayman Islands Tax Matters THE FOLLOWING IS A SUMMARY OF CERTAIN CAYMAN ISLANDS TAX CONSEQUENCES TO PERSONS WHO PURCHASE INTERESTS IN THE OFFERING. THE DISCUSSION IS BASED U
terminate cross-border business serving private clients out on non SEC registered entities. Disposition: Disgorgement (5200,000,000 is to the SEC); Back Taxes Payment, Monetary Sanctions: 5380,000,000; 5400,000,000 16. Date of Action: December 2008 Brought By: Swiss Federal Banking Commission Allegations: The
itted by any of Millennium's employees or agents or persons acting on their behalf. Certain Tax Matters Relating to the Master Partnership Certain Cayman Islands Tax Matters THE FOLLOWING IS A SUMMARY OF CERTAIN CAYMAN ISLANDS TAX CONSEQUENCES TO PERSONS WHO PURCHASE INTERESTS IN THE OFFERING. THE DISCUSSION IS BASED U
Entities connected to both Back Taxes Payment and Cayman Islands Tax Matters

New York State
LOCATIONLehman
ORGANIZATION
Mohammed bin Salman
PERSON
England
LOCATIONCayman
LOCATIONthe Non-USD Shares
ORGANIZATION
United States
LOCATION
New York
LOCATION
Millennium
ORGANIZATIONthe Mutual Funds Law
ORGANIZATIONErnst & Young LLP
ORGANIZATIONthe Cayman Islands Monetary Authority
ORGANIZATIONMillennium USA LP
ORGANIZATION
Internal Revenue Service
ORGANIZATIONSwiss Federal Banking Commission
ORGANIZATIONThe Ohio Division of Securities
ORGANIZATIONBrought
ORGANIZATIONGeneral State of NY
ORGANIZATIONCease & Desist
ORGANIZATIONthe Financial Advisor's
ORGANIZATION