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t in one or more of those jurisdictions and that Limited Partners may be subject to non-U.S. taxes and filing obligations in connection therewith. United Kingdom 'axation The following is a summary of the expected U.K. taxation treatment of participation in Millennium USA by Limited Partners who are neither re
n Markets and Jurisdictions The Fund invests its capital in large, liquid, and internationalized markets (such as, among others, the United States, the United Kingdom, and Japan) as well as lesser- developed emerging markets. The evolving laws and regulations applicable to the securities and financial services in
butive share of Millennium USA's taxable income and gain regardless of whether it has received or will receive a distribution from Millennium USA. Allocation of Profits and Losses. Under the Partnership Agreement, Millennium USA's net capital appreciation or net capital depreciation for each accounting period is allocated amon
t in one or more of those jurisdictions and that Limited Partners may be subject to non-U.S. taxes and filing obligations in connection therewith. United Kingdom 'axation The following is a summary of the expected U.K. taxation treatment of participation in Millennium USA by Limited Partners who are neither re
n Markets and Jurisdictions The Fund invests its capital in large, liquid, and internationalized markets (such as, among others, the United States, the United Kingdom, and Japan) as well as lesser- developed emerging markets. The evolving laws and regulations applicable to the securities and financial services in
butive share of Millennium USA's taxable income and gain regardless of whether it has received or will receive a distribution from Millennium USA. Allocation of Profits and Losses. Under the Partnership Agreement, Millennium USA's net capital appreciation or net capital depreciation for each accounting period is allocated amon
risdiction in which the income is sourced. Millennium Management and its affiliates operate throughout the world in various jurisdictions, including the United Kingdom, Luxembourg, Hong Kong, Japan, Singapore and Switzerland. Millennium Management and its affiliates generally endeavor to conduct such activities in
butive share of Millennium USA's taxable income and gain regardless of whether it has received or will receive a distribution from Millennium USA. Allocation of Profits and Losses. Under the Partnership Agreement, Millennium USA's net capital appreciation or net capital depreciation for each accounting period is allocated amon
Entities connected to both United Kingdom and Allocation of Profits and Losses

Ghislaine Maxwell
PERSON
United States
LOCATIONLeon Black
PERSON
George W. Bush
PERSON
New York
LOCATION
Luxembourg
LOCATION
Wilbur Ross
PERSON
JPMorgan Chase
ORGANIZATION
Malaysia
LOCATION
U.S. Treasury
ORGANIZATION
the Cayman Islands
LOCATION
Tokyo
LOCATION
New York State
LOCATIONCayman
LOCATIONReliance
ORGANIZATION
University of Oxford
ORGANIZATIONKeogh
ORGANIZATION
the Internal Revenue Service
ORGANIZATION
Mohammed bin Salman
PERSONthe Monetary Authority of Singapore
ORGANIZATION