EFTA01455446.pdf

LiquidAlts H2O Force 10 Fund Area of expertise: Private markets Theme: Structural solutions Summary fund terms - H2O Force 10 is a global macro, discretionary strategy sponsored by our Annual Fee: 1.5% p.a. LiquidAlts hedge fund platform within DeAWM H2O Performance Fee: 20% - H2O Asset Management Minimum subscription: $1,000,000 initial subscription, $10,000 incremental — H2O AM LLP was founded in 2010 by veterans Bruno Crastes (CEO) subscriptions and Vincent Chailley (CIO), who worked together for 18 years prior; their Dealing Frequency: Daily team averages 15years together Dealing Day: Each business day — Boutique structure, backed by one of Europe's largest asset managers Subscription notice: 2 business days for initial subscription, 1 business day for (Natixis Global Asset Management, $900 bn under management as of incremental subscriptions 3/31/14) Redemption notice: 2 business days — $6.0bn AUM as of May 50, 2014 — Investing in the LiquidAlts H2O Force 10 Fund presents several benefits and Performance features: — Style: Global Macro, Mufti-Asset. Active. Top-Down, Value and n2, rf,.. it:SO:J:44 R^lkinr Diversified — unlike traditional global-macro, the fund takes a collective Compounded AIWA Return 24.90% approach across non-siloed asset classes Cumulative Return 112.05% — Fully Discretionary Trailing 12 months 14.40% — «24.9% compounded annual retum since March 2011 inception' Tralling.3years 120.61% Largest Monthly Gain 10.73% — Low correlation with global bond & equity market indices and CTA's Largest Monthiy.Loss -5.58% — Daily Liquidity at NAV %Positive Months 75.61% — No lock-up gating or minimum holding period %Negative Months 24.39% Fund infrastructure Investor information and materials — The LiquidAlts H2O Force 10 Fund is built on the award winning dbAltematives managed account platform infrastructure, which provides daily liquidity, full Independent Due Diligence transparency, risk reporting/oversight, and institutional fees by Darius capital partners Due Daily NAV NAV available daily, — The fund is not a feeder — it invests directly in the financial markets produces an investment Diligence Reporting including on Bloomberg — Investment decisions are made and implemented by LiquidAlts H2O Force 10 and operational due Fund within the risk and infrastructure framework provided by Deutsche Bank diligence report — Deutsche Bank, in its various capacities, provides overall governance, daily risk monitoring, operational oversight, legal services, investor services and service provider/counterparty oversight M.A.R.S risk system Monthly reports containing Monthly provides aggregate metrics DB portfolio commentary and Online Risk on the fund including Investment outlook in addition to Reporting sector breakdown, top LiquidAlts H2O Service Reports detailed risk & holding concentration, Force 10 Fund Providers performance data scenario analysis and VaR (1) Reported performance is gross of management and performance fees Deutsche Asset ig Wea€tie: Manage —e-: For Internal Use Only 19 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 114208 CONFIDENTIAL SDNY_GM_00260392 EFTA01455446