J.P. Morgan

J.P. Morgan J.P. Morgan invites you to participate in a prospecfive investor conference call for Highbridge Mezzanine Fund II Private credit markets continue to offer investors a significant premium over public markets. As such, lenders arc not only able to generate attractive coupons but also command investor protections in conservative capital structures. With rising US leveraged buyout volumes, demand for mezzanine capital is expected to remain strong - especially against a backdrop of a smaller lending community and relative absence of the CLO ("Collateralized Loan Obligation") market. Highbridge Principal Strategies ("HPS"), a subsidiary of Highbridge Capital Management, LLC ("HCM"), seeks to launch Highbridge Mezzanine Fund II ("Fund II") to take advantage of the current market environment for mezzanine debt capital. HPS has assembled an experienced credit team of 17 professionals, led by Scott Kapnick and Scot French. Fund II is expected to be a continuation of Highbridge's successful strategy in Highbridge Mezzanine Fund I, which has invested in 24 portfolio companies since 2008. Fund II will seek to lend approximately $3 billion to large companies with stable cash flows. Featuring Scot French, Portfolio Manager and Partner, HPS Date: Thursday, February 9, 2012 Time: II:00am NY/ 4:00pm London Call-in Numbers: Within the U.S.: 866.256.4684 Outside the U.S.: +1-706-634-5299 Hong Kong: 800.966.253 Singapore: 800.101.1512 Passcode: MEZZANINE To view the slides associated with this presentation copy and paste the following URL into your intemet browser: Event password: mezzanine The Conference Call will be replayed through February 29, 2012 Within the U.S.: 855.859-2056 Outside the U.S.: +1.404.537.3406 Hong Kong: 800.930.800 Singapore: 800-101-1464 Passcode: 39256265 Please contact your.. Morgan representative if you have any questions. This invitation is confidential and intended solely for the use 45 Morgan professionals and the clients/prospects to whom it has been delivered. It is not to be reproduced or distributed to any other person except to the client's professional advisors. Private investments are subject to special risks and individuals nuns meet specific. uitability standards before investing. This information does not CoMfitate an nffir to sell or a solicitation of an offer to buy the interests of Highbridge Mezzanine Fund 11. No offering of interests of the Fund may be made by any literature. advertising or document in whatever font, other than the confidential private placement memorandum. As a reminder. hedge fiends for fiends of hedge funds,. private equity funds, real estate fund" and the like: Often engage in leveraging and other speculative investment practices that may increase the 113* of investment loss: Can be highly illiquid: Are not required to provide periodic pricing or valuation information to investon: May invoke complet ms SI114(110'es and delays in distributing important tax information: Are not subject to the sons 'evading requirements as mutualfinds: and often charge high firs. Further. any number of conflicts of interest may exist in the contest of the management and/or operation of any such fund. For compkre information. please refer to the go,&able offering memorandum. Securities are made available thnnigh. Morgan Securities LLC. Member F1NRA. NM and WC and its broker-dealer affiliates.. Morgan Asset Management Holdings Inc. ("JPMAM-) is a subsidiary of JPAlorgan Chow & Co. and an affiliate of JPAISL JPMAAI myna majority interest in Highbridge Capital Management ( -HCM-). Therefore. IICAl is also an affiliate of JAI/organ Chase d Co and JPAISL Please see offering memorandum for further performance details. Past performance is not indicative of future returns. Investment Products: -Not FDIC Insured -No Bank Guarantee -May Lose Value EFTA00597786