Disclosures

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. This summary is for educational purposes only and shall not constitute an offer to sell or a solicitation of an offer to purchase any securities.  Any such offer shall only be made pursuant to the official offering materials for the relevant matter.  This material is Confidential and for the sole use of the recipient and may not be reproduced or made available to others without the express written consent of Legatis, LLC. The material provided herein is based on matters as they exist as of the date of preparation.

Certain information contained in this summary constitutes “forward-looking statements,” which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “projected,” “estimate,” “intend,” “continue,” “believe” or other similar terms. Actual events or results and the actual performance of may differ materially from those reflected or contemplated in such forward-looking statements. All forward-looking statements, opinions, assumptions or the like contained in this document represent subjective views, beliefs, estimations or intentions, should not be relied on, are subject to change due to a variety of factors, including fluctuating market conditions and economic factors, and involve inherent risks and uncertainties, many of which cannot be predicted or quantified and are beyond our control. Future conditions and results could differ materially from those set forth in, contemplated by, or underlying these forward-looking statements, which are subject to change without notice. There can be no assurance, and no representation is made, that any forward-looking statements are now, or will prove to be, accurate or complete.

The potential investments and/ or strategies discussed in this summary are speculative, illiquid, non-transferable, involve a high-degree of risk, and should not be purchased by any person who cannot afford the loss of their investment.

Obra Capital Management, LLC (and its relying advisors, Obra Institutional Credit, LLC and Obra CLO Management, LLC) and Obra Fund Management, LLC, together, (“Obra”) are investment advisers registered with the Securities and Exchange Commission. Obra Liability Management, LLC and Obra are part of the Obra Platform owned by Obra Capital, Inc. (“Obra Capital”). Registration does not imply a certain level of skill or training.