DISCLAIMERS, DISCLOSURES, WARNINGS AND RESTRICTIONS

Please read the important information below before continuing to our website

By clicking on your client type to enter the website, you are confirming that you have read and understood the important information that is contained below.

This website is reserved for professional investors as defined by Directive 2004/39/EC (MiFID). It is not intended for retail investors.

This website is not intended for persons in jurisdictions in which the publication of its content is illegal, or for whom access to this content is illegal due to their nationality or place of residence. Users who access this website acknowledge and accept sole responsibility for their adherence to the laws and regulations of their countries of residence or nationality.

Regulations concerning the marketing of financial instruments vary depending on the country and your status (as a professional client or equivalent terminology). If you are in any doubt regarding the capacity to market this UCI, we advise you to speak to your advisor. No UCI may be offered to an individual if the law in his or her country of origin or any other country concerning the individual or product prohibits it.

You are solely responsible for selecting your country's website. You declare that this choice is compliant with all laws and regulations applicable in your country of nationality or residence, otherwise this choice is made under your sole responsibility.

This website is not intended for citizens or residents of the United States of America, or for US persons as defined by Regulation S of the Securities Act of 1933. None of the Funds presented here may be offered or sold, directly or indirectly, to the United States of America, to residents or citizens of the United States of America, or to US person.

Given the provisions of EU Regulation No. 833/2014, the subscription of units/ shares of funds managed by Nomura Alternative Investment Management France are prohibited for any Russian or Belarusian national, any individual person residing in Russia or Belarus or to any legal person, entity or any body established in Russia or Belarus except to nationals of a Member State and natural persons holding a temporary or permanent residence permit in a Member state.

The information on this website is published by Nomura Alternative Investment Management France S.A.S., 7 place d’Iéna, 75116 Paris, France. Nomura Alternative Investment Management France S.A.S. is authorised and regulated by the French Financial Markets Authority (AMF) under registration number GP-19000003. This is an informational website designed to present the management activity of the Nomura Alternative Investment Management SAS, as well as key information about its UCIs and services. This is not a transactional website. The information contained herein is believed to be accurate in all respects, but no representation or warranty, expressed or implied, as to its accuracy or completeness is made by any party.

No offer

The information, material and applications presented in this website are provided to you for information purposes only and nothing contained on this website is, or should be considered as, an offer or a solicitation to sell or an offer or solicitation to purchase any of the products described on this website. Access to some of the products described on this website may be subject to restrictions in respect to certain categories of investor or certain jurisdictions. Any prices published on this website are for information purposes only and cannot be used for valuation or trading purposes. The information provided on this website is not, and may not be construed as constituting either tax, legal, financial or investment advice or any form of recommendation as regards either individual products or strategies for investors.

Selling Restrictions

This website is not directed at or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Nomura and/or its subsidiaries or affiliates to any registration or licensing requirement within such jurisdiction. If you are such a person you are not authorised to enter this website. If you are in any doubt, please consult with your legal, financial, tax or other adviser.

It is each investor's responsibility to ascertain that it is authorized to conclude, or invest into any Funds presented in this website. The information on this website does not constitute, and may not be used for the purposes of an offer or invitation to acquire or sell any Nomura Alternative Investment Management France S.A.S Funds or more broadly any parent company's funds to any person in any jurisdiction:

• in which any such offer or invitation is not authorized;
• in which Nomura Alternative Investment Management France S.A.S is not qualified to make such offer or invitation; or
• in which it is unlawful to make any such offer or invitation.

There is no guarantee that the relevant fund or share-class is certified for tax purposes in your jurisdiction, nor that such fund or share-class benefits from any particular tax treatment.

This website is exclusively intended for persons who are not "US persons", as such term is defined in Regulation S of the US Securities Act 1933, as amended, and who are not physically present in the US. This website does not constitute an offer or an invitation to purchase any securities in the United States or in any other jurisdiction in which such offer or invitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. Potential users of this website are requested to inform themselves about and to observe any such restrictions. The shares can be neither offered in nor transferred to the United States.

General public in Singapore may not access this website for legal and regulatory reasons. No offer or invitation of any securities (including Funds) is made to persons in Singapore and no applications for any securities will be accepted from persons in Singapore. Persons in Singapore are not authorised to enter this website. No public offer of the UCITS or AIF Fund mentioned in this website are collective investment schemes authorised under section 286 of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA") or recognised under section 287 of the SFA. The UCITS or AIF Funds are not authorised or recognised by the Monetary Authority of Singapore (the "MAS") and shares are not allowed to be offered to the retail public.

Any material available in the website and any other document or material issued in connection with the offer or sale is not a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply. This material has not been registered as a prospectus with the MAS. Accordingly, this material and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of shares may not be circulated or distributed, nor may shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than:

1. to an institutional investor under Section 304 of the SFA,
2. to a relevant person pursuant to Section 305(1), or any person pursuant to Section 305(2), and in accordance with the conditions specified in Section 305 of the SFA, or
3. Otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. Where shares are subscribed or purchased under Section 305 by a relevant person which is:
   • a corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or
   • a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor, securities (as defined in Section 239(1) of the SFA) of that corporation or the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the [Shares/Units/Interests] pursuant to an offer made under Section 305 excep: 1. to an institutional investor or to a relevant person defined in Section 305(5) of the SFA, or to any person arising from an offer referred to in Section 275(1A) or Section 305A(3) (i) (B) of the SFA; 2. where no consideration is or will be given for the transfer; 3. where the transfer is by operation of law; 4. as specified in Section 305A(5) of the SFA; 5. or as specified in Regulation 36 of the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations 2005 of Singapore.

Investment Risks

The UCITS and/or AIF Funds described on this website are not suitable for everyone. Investors' capital is at risk. Investors should not deal in this product unless they understand, having obtained independent professional advice where necessary, its nature, terms and conditions, and the extent of their exposure to risk. The value of the product can go down as well as up and can be subject to volatility due to factors such as price changes in the underlying instrument and interest rates. If a fund is quoted in a different currency to the index, currency risks exist.

Prior to any investment in any Funds, you should make your own appraisal of the risks from a financial, legal and tax perspective, without relying exclusively on the information provided by us. We recommend that you consult your own independent professional advisors (including legal, tax, financial or accounting advisors, as appropriate).

FIGURES RELATING TO PAST PERFORMANCES REFER TO PAST PERIODS AND ARE NOT A RELIABLE INDICATOR OF FUTURE RESULTS OF THE FUNDS.

Performance data does not take into account the commissions and fees payable at the time of unit issue and redemption and does not include tax imposed by the investor's country of residence.

Any reference to market rankings or awards is not a reliable indicator of the future rankings or awards of the financial instruments or the management company. If figures presented on this website are denominated in a currency other than the investor's domestic currency, the investor's returns may increase or decrease as a result of exchange rates fluctuations.

Any fund prospectus and supplements are available on this website. Information given about the past performance of the funds is no guarantee of future performance. No investment decision should be taken without reading the fund prospectus and the key information document available of the fund concerned.

By clicking on "Accept" below, you confirm that you have read and understood the information on this page, you agree to comply with this information, and you confirm that your access to this website is in compliance with the applicable laws and regulations of your jurisdiction or country of residence.