Qualified Eligible Person

Pursuant to an exemption from the Commodity Futures Trading Commission which restricts investments to Qualified Eligible Persons (“QEPs”), this presentation has not been, and is not required to be, reviewed by or filed with the commission. Additional information is available to QEPs upon request.

Confidentiality

This information is STRICTLY CONFIDENTIAL and may not be modified, reproduced, or distributed, in whole or in part, without the prior written consent of Fides Ratio LLC (“F+R”).

Risk

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. No representation is made that results similar to those shown can be achieved. There is no guarantee that an investment program associated with F+R will meet its objective. Investors could lose a substantial portion, or even all, of their investment. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.

Not a Solicitation

The information contained in this presentation has been prepared solely for informational purposes and is not an offer to sell or purchase or a solicitation of an offer to sell or purchase any interests or shares in funds managed by F+R. Any such offer will be made only pursuant to an offering memorandum and the documents relating thereto describing such securities.

Public Information

Some information contained in this presentation is drawn from public sources believed to be reliable, but F+R makes no representation or warranty as to its accuracy, completeness, or fitness for purpose. F+R has no obligation to tell you when F+R’s opinion, or the information upon which it is based, changes.