Schedule K-1

Schedule K-1 (Form 1065) Department of the Treasury Internal Revenue Service M18 For calendar year 2018, a tax year beginning along Partner's Share of Income, Deductions, Credits, etc. ► See back of form and separate Instructions. ■ Part III El Amended K-1 651118 OMB No. 1545.0123 Partner's Share of Current Year Income, Deductions. Credits and Other items 1 Ordinary business income (loss) 15 Credits 2 Net rental real estate income (ass) 3 Other net rental mono (loss) 16 Foreign transactions Part I Information About the Partnership A Partnership's employer identification number Guaranteed payments B Partneshp's name. address. dry. state. and 2IP code VALAR GLOBAL FUND II LP 915 BROADWAY, SUITE 1101 NEW YORK, NY 10010 C IRS Center where partnership Ned return EFI LE O 1- 1 Check if this Is a publicly traded pannershp (PTP) 5 Interest income 4,431. Sa Ordinary divdends 6b Qualified dividends 6c Dividend equivalents 7 Royalties Part II Information About the Partner S Net short-term capital gain (loss) E Partners identifying number 14 F Partners name, address. ply. state. and 2IP code SOUTHERN TRUST COMPANY, INC. 6100 RED HOOK QUARTER, B3 ST. THOMAS, VI 00802 G Lj General partner or LLC member-manager • Domestic partner It What type of entity is the partner? 12 If this partner is a retirement plan (IRASEPiKeogIVetc.). check here Partners share of profit loss. and capital (see instructions): Beginning Ening Profs 21.050907 % 21.052781 Loss 21.050907 21.052781 Capital 21.030678 21.050678 usi Umited partner«. other LLC member Foreign partner S CORPORATION K Partners snare of liabilities: Beginning Non recourse e numailipmeg nonrecourses Recourse $ $ $ Ending o 9a * Net long-term capital gain (loss) -1,434,504. 9b Collectibles (28%) gain (loss) 17 Nieman* minimum UM (AMT) Items 9c Unrecaptured section 1250 gain 10 Net section 1231 gain (loss) 18 Tax-exempt Income and nondeductible expenses 11 Other income (loss) 19 Distributions 12 Section 179 deduction 13 Other deductions W* STMT A 20 B 10 Selt'employment earnings (loss) L Partners capital account analysis: Beginning capital account 13,194,855. Capital contributed during the year $ 300,000 . Current year increase (decrease) $ —1, 844, 658. Withdrawals 8 distributions . . . $ ( Ending tetanal account 11,650,197. Tax basis K GAAP DI Section 700(0) book Other (explain) IA Did the partner contnbute property with a built-in gain or loss? EN. Eyes Other information 4 431. 414,585. 'See attached statement for additional information. For IRS Use Only If "Yes.' attach statement (see instructions) For Paperwork Reduction Act Notice, see Instructions for Form 1065. SA $P1200 1.000 4638KC 700W wvntir .gov/Formt065 Schedule K-1 (Form 10602018 EFTA00810285 Schedule K. (Form 1065) 2018 PARTNER # 14 SOUTHERN TRUST COMPANY, INC. Page 2 This list Identifies the codes used on Schedule K-1 for all partners and provides summarized reporting information for partners who file Form 1000. For detailed reporting and filing Information, see the separate Partners Instructions for Schedule K-1 and the Instructions for your Income tax return. 1. Ordinary business Income (loss). Determine witether the income (loss) is Cado Report on passive or nonpassive and enter on your return as lams. J Work opportunity credit Report on K Disabled access credit Passive loss See the Partners Instructions Passive income Schedule E. Me 28. column (h) Nonpassive loss See the Partners Instructions L Empowerment zone employment credit IA Credit la increasing research activities See the Partners Instructions Nonpassrve income Schedule E. Me 28. column (k) 2. Net rental real estate Income (loss) See the Partners Instructions N Credit la employer social secunty and Medicare taxes 3. Other net rental Income (loss) O Backup withhdding Net income Schedule E. Me 28. column (h) Net loss See the Partners Instructions P Other crews 16. Foreign transactions 0. Guaranteed payments Schedule E. Me 28. column (k) 5. Interest Income Form 1040. Ine2b A Name of country or U.S. possession Form 1116. Pan I 6a. Ordinary dividends Form 1040. Ine3b B Gross income from all sources 6b. Oualifled dividends Form 1040. line 3a C Gross Income sourced al puma lapel 6c. Dividend equivalents See the Partners Instructions Foreign gross income sourced et peRnersh0 level 7. Royalties Schedule E. line 4 O Section 951A category 8. Net short-term capital gain (loss) Schedule D. line 5 E Foreign branch category Form 1116. Pan I 9a. Net long-term capital gain (loss) Schedule D. line 12 F Passive category 9b. Collectibles (28%) gain (loss) 28% RateGan Worksheet. line 4 O General category (Schedule D instructions) H Other 9c. Unrecaptured section 1250 gain See the Partners Instructions Deductions allocated and apportioned at partner level 10. Net section 1231 gain (loss) See the Partners Instructions I Interest expense Form 1116. Pan I 11. Other Income (loss) J Other Form 1116. Pat I Code Deductions allocated and apportioned et partnersh#3 level to foreign source income A Other portfolio income (loss) See the Partners Instructions B Involuntary conversions See the Partners Instructions C Sec. 1256 contracts 8 straddles Form 6781. line 1 K Section 951A category L Foreign branch category O Mining exploration costs recapture See Pit 535 PA PassMs category Form 1116. Pat I E Cancellation ol debt Schedule 1 (Form 1000). line 21 or N General category Form 982 O Other F Section 951A income Other in f oation O Section 965(a) leCluSKal P Total foreign taxes paid Form 1116. Pan II H Subpart F income ether than See the Partners Instructions 0 Total foreign taxes accrued Form 1116. Pan II sections 951A and 965 inclusion R Reduction in taxes available for craft Form 1116. line 12 I Other ncome (less) S Foreign trading gross receipts Form 8873 12. Section 179 deduction See the Partner's Instructions T Extraterritorial ncome exclusion Form 8873 13. Other deductions U Section 951A(c)(1)(A) tested income A Cash contnbutions (60%) B Cash contnbutions (30%) V Tested foreign income tax See the Partners Instrucbons W Section 965 information C Noncash contnbutions (50%) X Other foreign transactions 0 Noncash contnbutions (30%) See the Partners 17. Alternative minimum tax (AMT) hems E Capital gain property to a 50% Instructions A Post-1986 deprecation adjustment organization (30%) 8 Adjusted gain or loss See the Partners F Capital gain property (20%) C Depletion (other than oil 8 gas) Instructions and 0 Contributions (100%) D Oct. gas. 8 geothermal gross income the Instructions tar H Investment Interest expense Form 4952. line E Oil. gas. 8 geothermal - deductions Form 6251 I Deductions royally income Schedule E. line 19 F Other AMT tams J Section 59(0(2) expenditures See the Partners Instructions 18. Tax-exempt Income and nondeductible e pauses K Excess business nterest expense See the Partners Instructions A Tax-exempt interest income Form 1040. Me 2a L Deductions portfolio (other) Schedule A. Me 16 B Other tax-exempt ncome See the Partners Instrucbons IA Amounts paid to medical insurance Schedule A. line 1 or Schedule C Nondeductible expenses See the Partners Instrucbons (Form 1040). Ire 29 19. Distributions N Educational assistance benefits See the Partners Instructions A Cash and marketable securities O Dependent care benefits Form 2441. line 12 B Distribution subject to section 737 See the Partner's Instructions P Preproductive period expenses See the Partners Instructions C Other property 0 Commercial revitalization deduction 20. Other Information from rental real estate ettnnies See Form 8582 instructions A Investment income Form 4952. Me 0a R Pensions and IRAs See the Partners Instructions B Investment expenses Form 4952. Me 5 S Reforestation expense deduction See the Partners Instructions C Fuel tax credit information Form 4136 T through V Reserved for future use D Qualified rehabilitation expenditures See the Partners Instructions W Other deductions See the Partner's Instructions (other than rental real estate) X Section 965(c) deduction E Basis ol energy property See the Partners Instructions 10. Sell-employment earnings (loss) F Recapture of low-income housing Form 8611. Me 8 credit (section 420)(5)) Note: If you have a section 179 deduction or any partner-level deductions. see the 0 Recapture of low-income housing Form 8611. Me 8 Partners Instructions before completing Schedule SE. credit (other) A Net earrings (loss) from H Recapture of investment credit See Form 4255 sell-employment Schedule SE. Seaton A or B I Recapture of other creeks See the Partners Instructions B Gross farming or fishing income See the Partners Instructions J Look-track interest completed See Form 8697 C Gross non-farm income See the Partners Instructions long-term contracts 15. Credits A Low-income housing credit (section K Look-back interest - Income forecast See Form 8866 method 420)(5)) from pre-2008 buildings B Low-income housing credit (other) from pre-2008 buildings L Dispositions of property with section 179 deductions PA Recapture of section 179 deduction C Low-Income housing credit (section N Interest expense for corporate partners 020)(6)) from post-2007 buildings O Low-Income housing credit (other) from post-2007 butdngs E Qualified rehabilitation expenditures (rental real estate) See the Partners Instructions 0 through Y 2 Section 199A income AA Section 199A W-2 wages AB Section 199A unadanted basis AC Section 199A REIT dividends See the Partners Instructions F Other rental real estate cream AD Section 199A PTP income O Other rental credits PE Excess taxable income H Undistnbuted capital gains credit Schedule 5 (Form 1040), line 74. box a AF Excess business interest income I Biofuel producer credit See the Partners Instructions JSA 8PI303 1.000 AO Gross receipts for section 59A(e) AH Other information 4638KC 700W EFTA00810286 VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES PARTNER # 14 SOUTHERN TRUST COMPANY, INC. ITEM L - CAPITAL CONTRIBUTIONS CASH CONTRIBUTIONS 300,000. TOTAL CAPITAL CONTRIBUTIONS 300,000. LINE 9 - NET LONG-TERM CAPITAL GAIN(LOSS) LINE 9B 28% GAIN(LOSS) LINE 9A TOTAL FROM PORTFOLIO ACTIVITIES -1,434,504. TOTAL NET LONG-TERM CAPITAL GAIN(LOSS) -1,434,504. LINE 13 - OTHER DEDUCTIONS W OTHER DEDUCTIONS OTHER DEDUCTIONS INCLUDED IN ITEM L, CURRENT YEAR INCREASE (DECREASE) MANAGEMENT FEES 367,717. PORTFOLIO DEDUCTIONS - OTHER 46,868. TOTAL BOX W PARTNER FOOTNOTES ASSOCIATED W/SCH. K-1, LINE 20 INFORMATION FOR FORM 8886, REPORTABLE TRANSACTION DISCLOSURE STATEMENT: IN THE NORMAL COURSE OF INVESTMENT ACTIVITY, THE PARTNERSHIP SOLD ITS INVESTMENT IN OPPA, LTD A IRC SECTION 165 LOSS. PARTNERSHIPS ARE REQUIRED TO FILE FORM 8886, REPORTABLE TRANSACTION DISCLOSURE STATEMENT, IN TRANSACTIONS WHICH IRC SECTION 165 LOSSES EXCEED $2 MILLION. ALTHOUGH THE PARTNERSHIP DID NOT MEET THIS THRESHOLD, AS DEFINED IN TREAS. REG. SECTION 1.6011-4(B)(5) (I) (C), WE ARE PROVIDING YOUR ALLOCABLE SHARE OF THIS IRC SECTION 165 LOSS. YOU MAY HAVE ADDITIONAL LOSS ALLOCATED FROM RELATED VALAR ENTITIES AS PART OF THE SAME TRANSACTION. PER TREAS. REG. SECTION 1.6011-4(B) (5)(I)(A)-(D), PARTNERS OTHER THAN CORPORATIONS GENERALLY ARE REQUIRED TO FILE FORM 8886, REPORTABLE TRANSACTION DISCLOSURE STATEMENT, FOR ANY IRC SECTION 165 LOSS OF AT LEAST $2 MILLION IN ANY SINGLE TAXABLE YEAR. PLEASE CONSULT YOUR TAX ADVISIOR IN DETERMINING WHETHER YOU ARE REQUIRED TO FILE FORM 8886. INFORMATION FOR FORM 8886 IS AVAILABLE UPON REQUEST. YOUR ALLOCABLE SHARE OF THE ABOVE IRC SECTION 165 LOSS FROM THE PARTNERSHIP IS: 414,585. -403,870. SP9OCO 1.000 4638KC 700W STATEMENT 1 EFTA00810287 VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES PARTNER II 14 SOUTHERN TRUST COMPANY, INC. PARTNER FOOTNOTES LINE 13W-OTHER DEDUCTIONS: THESE EXPENSES ARE PORTFOLIO DEDUCTIONS FORMERLY REPORTED ON BOX 13K AS 2% PORTFOLIO DEDUCTIONS THAT ARE NON-DEDUCTIBLE FOR CERTAIN TAXPAYERS, INCLUDING INDIVIDUALS, AND WOULD REDUCE YOUR TAX BASIS IN THE PARTNERSHIP. PLEASE CONSULT YOUR TAX ADVISOR. ITEM L: YOU SHOULD CONSULT YOUR TAX ADVISOR TO DETERMINE YOUR TAX BASIS IN YOUR PARTNERSHIP INTEREST. YOU SHOULD DETERMINE WHETHER LOSSES OR EXPENSES APPEARING ON YOUR K-1 ARE SUBJECT TO SUSPENSION AND WHETHER THERE ARE OTHER LIMITATIONS OR ISSUES THAT MAY ARISE BY VIRTUE OF YOUR TAX BASIS IN YOUR PARTNERSHIP INTEREST OR FOR OTHER REASONS. CAPITAL ACCOUNT RECONCILIATION: THE PARTNERSHIP MAINTAINS CAPITAL ACCOUNT IN ACCORDANCE WITH SECTION 704(B) AND REPORTS THESE BALANCES ON SCHEDULE K-1. FOR FINANCIAL PURPOSES, THE PARTNERSHIP MAINTAINS CAPITAL ACCOUNTS IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). UBTI FOOTNOTE: TAX-EXEMPT PARTNERS ARE ADVISED THAT THE PARTNERSHIP IS NOT REPORTING UNRELATED BUSINESS TAXABLE INCOME ("UBTI") DURING THE 2018 TAXABLE YEAR BASED ON INFORMATION AVAILABLE TO THE PARTNERSHIP. EFFECTIVELY CONNECTED INCOME (ECI): THE PARTNERSHIP IS NOT REPORTING EFFECTIVELY CONNECTED INCOME ("ECI") DURING THE 2018 TAXABLE YEAR BASED ON INFORMATION AVAILABLE TO THE PARTNERSHIP. ITEM J: PARTNER PERCENTAGES REFLECTED IN ITEM J ARE CALCULATED PURSUANT TO IRS INSTRUCTIONS, AND MAY VARY FROM PERCENTAGES UNDER THE PARTNERSHIP AGREEMENT. SECTION 199A AND SECTION 163(J): THIS PARTNERSHIP IS NOT ENGAGED IN A TRADE OR BUSINESS AS DEFINED UNDER I.R.C. SEC. 162. ADDITIONALLY, THIS PARTNERSHIP IS NOT INVESTED IN A FLOW-THROUGH ENTITY WITH ITEMS NECESSARY FOR ITS PARTNER'S CALCULATION OF EITHER SEC. 199A OR SEC. 163(J). THEREFORE, SEC. 199A IS NOT APPLICABLE. THE PARTNERSHIP DOES NOT HAVE ANY INTEREST EXPENSE ALLOCABLE TO A TRADE OR BUSINESS, THUS IT IS NOT SUBJECT TO INTEREST EXPENSE LIMITATIONS UNDERS SEC. 163(J). PLEASE CONSULT YOUR TAX ADVISOR. CONTINUED ON NEXT PAGE STATEMENT 2 $P9003 1.003 4638KC 700W EFTA00810288 VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES PARTNER II 14 SOUTHERN TRUST COMPANY, INC. PARTNER FOOTNOTES (CONT'D) SCH K-1 SUPPORTING SCHEDULES FORM 8621 INFORMATION IF APPLICABLE, VALAR GLOBAL FUND II LP HAS MADE TIMELY QUALIFIED ELECTING FUND ("QEF") ELECTION(S) WITH RESPECT TO ITS INVESTMENTS IN UNDERLYING PASSIVE FOREIGN INVESTMENT COMPANIES ("PFIC"), EFFECTIVE FOR EACH YEAR OF OWNERSHIP, AND HAS FILED THE REQUIRED FORMS 8621 FOR ALL YEARS OF OWNERSHIP. THE DIRECT US SHAREHOLDER THAT HAS MADE A QEF ELECTION FOR A PFIC IS REQUIRED TO INCLUDE INCOME CURRENTLY UNDER IRC SECTION 1293, AND TO FILE FORM 8621. AS A PARTNER THAT HAS INVESTED IN A US PARTNERSHIP THAT HAS MADE THE QEF ELECTION AND FILED FORM 8621 (IF APPLICABLE), YOUR ALLOCABLE SHARE OF THIS INCOME IS NOT REQUIRED TO BE FURTHER REPORTED ON AN ADDITIONAL FORM 8621. THE SERVICE HAS REVISED THE INSTRUCTIONS FOR FORM 8621 TO FORMALLY CLARIFY THAT NO ADDITIONAL FORM 8621 REPORTING IS NECESSARY UNDER THESE FACTS. PLEASE CONSULT YOUR TAX ADVISOR. DETRUN VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES FORM 8938 INFORMATION IN 2018, INDIVIDUALS AND CERTAIN DOMESTIC ENTITIES ARE REQUIRED TO REPORT THEIR DIRECT OR INDIRECT INVESTMENTS ON FORM 8938 IF A CERTAIN THRESHOLD IS MET. IF YOUR INTERESTS IN THE BELOW FOREIGN ENTITIES ARE ONLY THROUGH YOUR OWNERSHIP IN VALAR GLOBAL FUND II LP, YOU DO NOT NEED TO INCLUDE THESE ENTITIES ON FORM 8938. HOWEVER, IF YOU HAVE ANY OTHER DIRECT OR INDIRECT INVESTMENTS IN THE FOREIGN ENTITIES NOTED BELOW, PLEASE CONSULT YOUR TAX ADVISOR TO DETERMINE YOUR FILING REQUIREMENTS. THE VALUE PROVIDED REPRESENTS THE VALUE OF THE ASSETS HELD BY VALAR GLOBAL FUND II LP. YOU MUST DETERMINE YOUR PRO RATA SHARE ACCORDINGLY. BREATHER PRODUCTS INC. DESCRIPTION OF ASSET: STOCK FEIN: FOREIGNUS ASSET ACQUIRED DURING THE YEAR: NO ASSET DISPOSED DURING THE YEAR: NO MAXIMUM VALUE OF ASSET DURING TAX YEAR: $28,746,321 TYPE OF FOREIGN ENTITY: CORPORATION MAILING ADDRESS: 5605 AVENUE DE GASPE, SUITE 610 MONTREAL, QC, H2T 2A4 CANADA EDEN, LTD. (AKA DINDA) DESCRIPTION OF ASSET: PARTNERSHIP INTEREST FEIN: FOREIGNUS ASSET ACQUIRED DURING THE YEAR: NO CONTINUED ON NEXT PAGE STATEMENT 3 IIP9OCO 1.000 4638KC 700W EFTA00810289 VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES PARTNER II 14 SOUTHERN TRUST COMPANY, INC. PARTNER FOOTNOTES (CONT'D) ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: EDEN, LTD. (AKA DINDA) DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: EYE EM LIMITED DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: GRANIFY INC. DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: GRANIFY INC. DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: NO $704,361 PARTNERSHIP C/O CAMPBELL CORPORATE SVC LTD SCOTIA CENTRE, P.O. BOX 268 GRAND CAYMAN CJ KY1-1104 CAYMAN ISLANDS CONVERTIBLE NOTE FOREIGNUS NO NO $195,103 PARTNERSHIP C/O CAMPBELL CORPORATE SVC LTD SCOTIA CENTRE, P.O. BOX 268 GRAND CAYMAN CJ KY1-1104 CAYMAN ISLANDS STOCK FOREIGNUS NO YES 4/9/2018 $173,819 CORPORATION 69 GREAT HAMPTON STREET, BIRMINGHAM, B18 6EW UK STOCK FOREIGNUS NO NO $3,782,163 CORPORATION 10130-103 ST NW, SUITE 2100, EDMONTON, ALBERTA, T5J 3N9 CANADA CONVERTIBLE NOTE FOREIGNUS NO NO $489,600 CORPORATION 10130-103 ST NW, SUITE 2100, EDMONTON, ALBERTA, 9P9000 1.000 4638KC 700W CONTINUED ON NEXT PAGE STATEMENT 4 EFTA00810290 VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES PARTNER II 14 SOUTHERN TRUST COMPANY, INC. PARTNER FOOTNOTES (CONT'D) N26 GMBH DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: OPPA, LTD. DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: OPPA, LTD. DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: VEND LIMITED DESCRIPTION OF ASSET: FEIN: ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: DEPOSIT SOLUTIONS GMBH DESCRIPTION OF ASSET: FEIN: T5J 3N9 CANADA STOCK FOREIGNUS NO NO $165,487,274 CORPORATION KLOSTERSTRABE 62 10179 BERLIN, GERMANY PARTNERSHIP INTEREST 98-1022690 NO YES 2/8/2018 $3 PARTNERSHIP C/O CAMPBELL CORPORATE SVC LTD SCOTIA CENTRE, P.O. BOX 268 GRAND CAYMAN CJ KY1-1104 CAYMAN ISLANDS CONVERTIBLE NOTE 98-1022690 NO YES 2/8/2018 $1 PARTNERSHIP C/O CAMPBELL CORPORATE SVC LTD SCOTIA CENTRE, P.O. BOX 268 GRAND CAYMAN CJ KY1-1104 CAYMAN ISLANDS STOCK FOREIGNUS NO NO $1,702,344 CORPORATION 2 NUFFIELD ST NEWMARKET, AUCKLAND 1023 NEW ZEALAND STOCK FOREIGNUS SP9003 1.000 4638KC 700W CONTINUED ON NEXT PAGE STATEMENT 5 EFTA00810291 VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES PARTNER 11 14 SOUTHERN TRUST COMPANY, INC. PARTNER FOOTNOTES (CONT'D) ASSET ACQUIRED DURING THE YEAR: ASSET DISPOSED DURING THE YEAR: MAXIMUM VALUE OF ASSET DURING TAX YEAR: TYPE OF FOREIGN ENTITY: MAILING ADDRESS: NO YES 10/3/2018 $3,416,589 CORPORATION ZIRKUSWEG 1, 20359 HAMBURG, GERMANY FORM 5471 INFORMATION DURING 2018, VALAR GLOBAL FUND II LP ("THE FUND") INDIRECTLY DISPOSED OF STOCK IN A CONTROLLED FOREIGN CORPORATION ("CFC") AND CEASED TO BE A 10% U.S. SHAREHOLDER. THE FUND WILL FILE FORM 5471 "INFORMATION RETURN OF U.S. PERSONS WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS" TO FULFILL ITS FILING RESPONSIBILITY. PLEASE CONSULT YOUR TAX ADVISOR TO DETERMINE YOUR FILING REQUIREMENT WITH REGARD TO THIS FOREIGN CORPORATION. A COPY OF EACH FILING IS AVAILABLE UPON YOUR REQUEST. FOREIGN CORPORATION MAILING ADDRESS OPPA DESIGN LTDA. RUA ASPICUELTA, 153-PINHEIROS SAO PAULO, SP 05433-010 BRAZIL VALAR GLOBAL FUND II LP'S INTEREST BEGINNING ENDING 25.307% 0.000% FORM 5471 INFORMATION DURING 2018, VALAR GLOBAL FUND II LP ("THE FUND") WAS A 10% US SHAREHOLDER OF A FOREIGN CORPORATION, BREATHER PRODUCTS INC. AS A RESULT OF TAX LAW CHANGES BROUGHT ABOUT BY THE TAX CUTS AND JOBS ACT OF 2017, CERTAIN FOREIGN SUBSIDIARIES OF BREATHER PRODUCTS INC. ("THE ENTITIES") MAY POTENTIALLY BE CONSIDERED TO BE CONTROLLED FOREIGN CORPORATIONS ("CFCS"), RESULTING IN A 5471 FILING REQUIREMENT. IF APPLICABLE, THE FUND WILL FILE FORM 5471 "INFORMATION RETURN OF U.S. PERSONS WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS" TO FULFILL ITS FILING RESPONSIBILITY. HOWEVER, BASED ON AVAILABLE INFORMATION AS OF THE DATE OF THIS K-1, THE FUND IS NOT ABLE TO MAKE A DEFINITIVE DETERMINATION AS TO WHETHER OR NOT THE ENTITIES HAVE CFC STATUS. PLEASE CONTACT THE FUND IF YOU BELIEVE THAT A 5471 FILING REQUIREMENT MAY APPLY TO YOU IF THE ENTITIES ARE CONSIDERED TO BE CFCS. sP9000 1.000 4638KC 700W CONTINUED ON NEXT PAGE STATEMENT 6 EFTA00810292 VALAR GLOBAL FUND II LP SCH K-1 SUPPORTING SCHEDULES PARTNER # 14 SOUTHERN TRUST COMPANY, INC. PARTNER FOOTNOTES (CONT'D) FOREIGN CORPORATION MAILING ADDRESS BREATHER PRODUCTS UK LIMITED HILL HOUSE, 1 LITTLE NEW STREET LONDON, UK EC4A 3TR VALAR GLOBAL FUND II LP'S INTEREST: BEGINNING 12.8295% 899003 I 003 4638KC 700W STATEMENT 7 EFTA00810293 NEW YORK STATE 2018 Department of Taxalion and Finance New York Corporate Partner's Schedule K-1 Tax Lay/ - Article 9-A For calendar year 2018 or tax year beginning 181 and ending IT-204-CP Final K-1 Amended K-1 Partners: Before completing your franchise tax return, see Form IT-204-CP-I. Partner's Instructions for Form IT-204-CP (available al wmv.tax.ny.gov). Partnership's Information Partnership's name (as shown on Form IT-204) VALAR GLOBAL FUND II LP A Mark an X in the box if either applies to your entity El Publicly traded partnership Partnership's EIN a Portfolio investment partnership B Tax shelter registration number, if any Partner's Information (see instructions) Partner's name SOUTHERN TRUST COMPANY, INC. Partners address 6100 RED HOOK QUARTER, B3 City ST. THOMAS C D The is a X Q Gene LLC Limited partner or other LLC member partner fiWkail OMB vows* boil al partner or member-manager What is the New York tax filing status of the partner? Mark an X in the appropriate box. It known ) 0 C corporation S corporation 0 Partnership E If the partner is a disregarded entity, enter the EIN of the entity reporting the income of the partner (it known) F Did the partner sell its entire interest during the tax year? F Yes O No El O Partner's share of profit, loss, and capital BeglnNng Ending 1) Profit G1 210509 % 21.0527 % 2) Loss G2 21.0509 % 21.0527 % 3) Capital G3 21.0306 % 21.0506 cleg H Partner's share of liabilities at the end of the year 1) Nonrecourse H1 2) Qualified nonrecourse financing H2 3) Recourse H3 State VI ZIP code 00802 Partners EIN I Partner's capital account analysis 1) Beginning capital account It 2) Capital contributed during the year - cash 12 3) Capital contributed during the year - property 13 4) Current year increase (decrease) 14 5) Withdrawals and distributions - cash 15 6) Withdrawals and distributions - property 16 7) Ending capital account 17 8) Method of accounting (mark an X in the appropriate box) El Tax basis El GAAP El Book El Other (subnul explanation) 117001183065 13194855 300000 -1844658 11650197 SEE STATEMENT 1 4638KC 700W EFTA00810294 8Q35020 Page 2 of 11 IT-204-CP (2018) 100502 1.000 J Was Form CT-2658-E filed with the partnership? J Yes K No K NYS estimated tax paid on behalf of partner (from Form CT-2658) Date Amount 1) First installment K1 2) Second installment K2 3) Third installment K3 4) Fourth installment K4 Total NYS estimated tax paid on behalf of partner (add Ones K1 through K4) L Was the partnership required to report any nonqualified deferred compensation, as required by IRC § 457A, on its 2018 federal return? (see instructions) L Yes K Not X Partner's share of entire net income (ENI) information when the corporate partner's New York tax filing status is a C corporation ENI addition modifications 1 Total additions A - Number 8- Amount A- Number 8- Amount la EA- Id a - lb EA - le EA - lc EA - If EA - ENI subtraction modifications 2 Total subtractions A - Number 8- Amount A- Number 8 - Amount 2a ES- 2d ES- 2b ES- 2e ES- 2c ES- 2f ES- Partner's proportionate part of assets and liabilities (for New York C corporate partners only) Average value 3 Total assets 3 4 Real property and marketable securities included on line 3 4 5 Real property and marketable securities at fair market value (NOV) 5 6 Average value of adjusted total assets 6 7 Total liabilities 7 8 Liabilities directly attributable to business capital 8 9 Liabilities directly attributable to investment capital 9 117002183065 II III 4638KC 700W EFTA00810295 6°8408030 IT-204-CP (2018) Page 3 of 11 Partner's proportionate pad of items related to investment capital under Article 9-A (for New York C corporate partners only) Part 1 - Investment capital that generates income claimed not taxable by New York under the U.S. Constitution Description of asset (identity each asset, and enter number of shares (if applicable) and date acquired here: for each asset complete columns through G on the corresponding lines below: enter only directly owned assets in items A through F and Total from additional sheet(s)) For each item listed, in columns A through G, enter the information for the partnership as a whole. Item A- Description of asset B- Number of shares acquired, if appicable C- Date acquired A B C D E F Item D Number of shares sold, if applicable E Date sold F Average FMV G Liabilities directly attributable H Net average FMV A B C D E F Total from additional sheet(s) Total from partnerships 10 Total proportionate part of columns F and G (see instructions) 10 Part 2 - Investment capital - stocks actually held more than one year Description of investment (identify each investment. and enter number of shares and date acquired here: for each investment complete columns D through G on the corresponding lines below: enter only directly owned investments in items A through F and Total from additional sheet(s)) For each item listed, in columns A through G, enter the information for the partnership as a whole. Item A- Name/CUSIP/CIN$Aot number B- Number of shares acquired C- Date acquired A B C D E F Item D Number of shares sold E Date sold F Average FMV G Liabilities directly attributable H Net average FMV A B C D E F Total from additional sheet(s) Total from partnerships 11 Total proportionate part of columns F and G (see instructions) 11 003183065 III IIII III 'l I l 1 4638KC 700W EFTA00810296 Page 4 of 11 IT-204-CP (2018) 8Q35040 8O35Oa 1.000 Part 3 - Investment capital - stocks presumed held more than one year Description of investment (identify each investment. and enter number of shares and date acquired here: for each investment complete columns F and G on the corresponding lines below: enter only director owned investments in items A through F and Total from additional sheet(s)) For each item listed, in columns A through G, enter the information for the partnership as a whole. Item A- Name/CUSINCINS/lot number B- Number of shares acquired C- Date acquired A B C D E F Item D Number of shares sold E Date sold F Average FMV G Liabilities directly attributable H Net average FMV A B C D E F Total from additional sheet(s) Total from partnerships 12 Total proportionate part of columns F and G (see instructions) 12 Part 4 - Total investment capital 13 Total average FMV and liabilities directly attributable (add lines TO, I I. am:112h columns Fend 0) . . . 13 Part 5 - Prior year investment capital - stocks that d d not meet holding period requirement Description of investment (identity each investment. and enter number of shares and date acquired here: for each investment complete columns D through G on the corresponding tines below: enter only directly owned investments in items A through F and Total from additional sheet(s)) For each item listed, in columns A through G, enter the information for the partnership as a whole. Item A - Name/CUSINCINSnot number 8 - Number ol shares acquired C - Date acquired A B C D E F Item D Number of shares sold E Date sold F Average FMV as previously reported G Liabili es directly attributable as previously reported H Net average FMV A B C D E F Total from additional sheet(s) Total from partnerships 14 Total proportionate part of columns F and G (see instructions) 14 _i_ 117004183065 III III III i 4 63 8KC 700W EFTA00810297 sottiaBi5dat50 IT-204-CP (2018) Page 5 of 11 Part 6 - Prior year gross Investment Income for stocks that did not meet holding period requirement 15 Prior year presumed gross investment income from stocks presumed in the prior year to be held more than one year that failed to meet the presumption (see inseuctions) 15 Partner's share of items related to investment and other exempt income under Article 9-A (for New York C corporate partners only) 16 Gross exempt cross-article dividends 17 Gross exempt controlled foreign corporation (CFC) income 18 Gross exempt unitary corporation dividends 19 Gross investment income from investments generating income not taxable by New York State under the U.S. Constitution 20 Dividend income from investment capital from stocks actually held more than one year 21 Net capital gains or losses from investment capital from stocks actually held more than one year 22 Dividend income from investment capital from stocks presumed held more than one year 16 17 18 19 20 21 22 Partner's share of items related to interest deductions directly attributable to investment and other exempt income under Article 9-A (for New York C corporate partners only) 23 Interest expense per federal Form 1065, line 15 24 Interest deductions directly attributable to income reported on line 16 25 Interest deductions directly attributable to income reported on line 17 26 Interest deductions directly attributable to income reported on line 18 27 Interest deductions directly attributable to income reported on line 19 28 Interest deductions directly attributable to income reported on line 20 29 Interest deductions directly attributable to income reported on line 21 30 Interest deductions directly attributable to income reported on line 22 31 Interest deductions directly attributable to business capital 23 24 25 26 27 28, 29, 30 31 Partner's share and proportionate part of items related to subtraction modification for qualified banks 32 Qualified residential loan portfolio assets 33 Gross interest income from qualifying loans 33a Gross interest income from all loans 33b Gross interest expense from aU loans 32 33 3b Partner's share and proportionate part of items related to manufacturing 34 Total receipts from the sale of goods by manufacturing 34a Receipts received from the generation and distribution of electricity, the distribution of natural gas, and the production of steam associated with the generation of electricity 35 Adjusted basis of qualified manufacturing property 35a Number of employees employed in manufacturing in New York 117005183065 34 34a 35 35a 4638KC 700W EFTA00810298 8035060 Page 6 of 11 IT-204-CP (2018) 103506 1.000 Partner's share of New York modifications (for New York S corporate partners only) 36 New York State additions Number A— Total amount 36a EA- 36b EA- 36c EA- 36d EA- 36e E A- 36f EA - 37 Total addition modifications (total of column A. lines 36a through 360 37 36 New York State subtractions Number A - Total amount 38a E S - 38b E S - 36c E S - 38d E S - 38e E S - 38f E S - 39 Total subtraction modifications (total of column A. lines 38a through 380 39 40 Additions to itemized deductions Letter Amount 40a 40b 40c 40d 40e 40f 41 Total additions to itemized deductions (add lines 40a through 400 41 42 Subtractions from itemized deductions Letter Amount 42a 42b 42c 42d 42e 42f 43 Total subtractions from itemized deductions (add lines 42a through 420 431 III III II 111111 4 63 8KC 700W EFTA00810299 8035500 8O3550 1.000 IT-204-CP (2018) Page 7 of 11 Partner's share of income, deductions, etc. (from federal Form 1065, Schedule K-1) Partner's distributive share items 44 45 N 46 47 48 I 49 50 R 51 N 52 N 53 N 54 55 S 56 57 T 58 D 59 D 60 Ordinary business income (loss) 44 et rental real estate income (loss) 45 Other net rental income (loss) 46 uaranteed payments 47 merest income 48 4431 Ordinary dividends 49 oyalties _50 et short-term capital gain (loss) _5J et long-term capital gain (loss) _52 -14 34 504 et section 1231 gain (loss) _53 Other income (loss) 54 Identify: action 179 deduction _55 ther deductions 56 414585 kleolifY: SEE STATEMENT 1 ax-exempt income and nondeductible expenses _57 istributions - cash and marketable securities 58 'stributions - other property _59 Other items not included above that are required to be reported separately to partners 60 -410154 Identity: SEE STATEMENT 1 Partner's credit Information (see instructions) Part 1 - Flow-through credit bases and information Brownfield redevelopment tax credit (Form CT611. Form CT-611. , or Form CT-611.2) 61 Site preparation credit component 62 Tangible property credit component 63 On-site groundwater remediation credit component A - Fenn CT411 - Form CT411.1 C - Form C1411.2 61 62 63 EZ capital tax credit (Form CT-602) 64 Recapture of credit for investments in certified EZ businesses 65 Recapture of credit for contributions of money to EZ community development projects QEZE tax reduction credit (Form CT-604-CP) 66 QEZE employment increase factor 67 QEZE zone allocation factor 68 OEZE benefit period factor Excelsior jobs program tax credit (Form CT-607) 69 Excelsior jobs tax credit component 70 Excelsior investment tax credit component 71 Excelsior research and development tax credit component 72 Excelsior real property tax credit component 117007183065 III III III i 66 67 66 69 70 71 4 638KC 700W EFTA00810300 Page 8 of 11 rT-204-CP (2018) 8Q35510 800561 1.000 Partners credit Information (continued) Farmers' school tax credit (Form CT-47) 73 Acres of qualified agricultural property 74 Acres of qualified conservation property 75 Eligible school district property taxes paid 76 Acres of qualified agricultural property converted to nonqualified use 73 74 75 76 Other flow-through credit bases and Information Credit bases Code Amount recaptures Code Amount 77a 77d 77b 77e 77c 77f Credit information Code Information Code Information sift 77j 77k 771 Part 2 Flow-th ough credits, addbacks, and 78 Flow-through credits Code Amount Code Amount 78a 76e 78b 78f 78c 78g 78d 78h 79 Addbacks of credits and recaptures Code Amount Code Amount 79a 79d 79b 79e 79c 79f Part 3 START-UP NY tax elimination credit information (Form CT-638) 80 START-UP NY business certificate number (Form DTF-74) 81 Year of START-UP NY business tax benefit period 82 START-UP NY area allocation factor 80 81 82 Partner's share of apportionment and Metropolitan Commuter Transportation D strict (MCTD) Information Part 1 1 During the reporting year, did the partnership do business, employ capital, own or lease property, maintain an office, or derive receipts from activity, in New York State? (mark an X in the appropriate box) Yes K No ❑x 2 During the reporting year, did the partnership do business, employ capital, own or lease property, maintain K an office, or derive receipts from activity, in the MCTD? (mark an X in the appropriate box) Yes K No Average value of property 3 Real estate owned 4 Real estate rented 5 Inventories owned 6 Tangible personal property owned 7 Tangible personal property rented 117008183065 A- MCTD 3 4 5 6 7 B- New York State 4638KC 700W EFTA00810301 8Q35520 BOSSS2 1.000 IT-204-CP (2018) Page 9 of 11 Part 2 Receipts from: Section 210-A.2 1 Sales of tangible personal property 2 Sales of electricity 3 Net gains from sales of real property Section 210-A.3 4 Rentals of real and tangible personal property . . . 5 Royalties from patents, copyrights, trademarks, and similar intangible personal property 6 Sales of rights for certain closed-circuit and cable TV transmissions of an event Section 210-A.4 7 Sale, licensing, or granting access to digital products 7a Sale, licensing, or granting access to digital products 8 This line intentionally left blank Section 210-A.5(a)(2)(A) 9 Interest from loans secured by real property 10 Net gains from sales of loans secured by real properly . . 11 Interest from loans not secured by real property K 12 Net gains from sales of loans not secured by real properly K Section 210-A.5(a)(2)(B) K 13 Interest from federal debt 14 15 Interest from NYS and Its political subdonstons debt . . . . 15 16 Net gains from federal. NYS. and NYS polrlical Sub:In/1SiOAS debt . 17 Interest from other states and their political subdivisions debt 18 Net gains from other states and their political subdivisions debt Section 210-A.5(a)(2)(C) K 19 Interest from asset-backed securities and other government agency debt 20 Net gains from government agency debt or asset-backed securities sold through an exchange . 21 Net gains from all other asset-backed securities . . . Section 210-A.5(a)(2)(D) K 22 Interest from corporate bonds 23 Net gains from corporate bonds sold through broker/dealer or licensed exchange 24 Net gains from other corporate bonds Section 210-A.5(a)(2)(E) 25 Net interest from reverse repurchase and securities borrowing agreements A MCTD B New York State C Everywhere 1 2 3 4 5 6 7 7a 8 Section 210-A.5(a)(2)(F) 26 Net interest from federal funds Section 210-A.5(a)(2)(I) K 27 Net income from sales of physical commodities . . Section 210-A.5(a)(2)(J) K 28 Marked to market net gains 111009183065 10 11 12 13 16 17 18 19 20 21 22 23 24 25 26 27 28 9 A 4 638KC 700W EFTA00810302 Page 10 of 11 IT-204-CP (2018) 8Q35530 BC135S3 1.000 Part 2 Receipts from: A MCTD B New York State C Everywhere Section 210-A.5(a)(2)(H) 210-A.5(a)(2)(G) 29 Interest from other financial 30 Net gains from othe 30a Net gains from othe (broker/dealer/exchange) 30b Other income from 30c Other income from (broker/dealer/exchange) 30d Dividends from stock 30e Net gains from sales 30f Net gains from sales financial financial other other that of of instruments instruments instruments financial instruments. . . 30b financial instruments is business capital stock that is business capital partnership interests 29 30 30a 30c 30d 30e 30f Section 210-A.5(b) 31 Brokerage commissions 32 Margin interest earned on behalf of brokerage accounts 33 Fees for advisory services for underwriting or management of underwriting 34 Receipts from primary spread of selling concessions 35 Receipts from account maintenance fees 36 Fees for management or advisory services 37 Interest from an affiliated corporation 31 32 33 34 35 36 371 Section 210-A.5(c) 38 Interest, fees, and penalties from credit cards . . . 39 Service charges and fees from credit cards 40 Receipts from merchant discounts 41 Receipts from credit card authorizations and settlement processing 42 Other credit card processing receipts 38 39 40 41 42 Section 2104.5(d) 43 Receipts Irom certain services to Investment companies 43 Section 210-A.6 44 Receipts from railroad and trucking business 44 Section 210-A.6-a 45 Receipts from the operation of vessels 45 Section 2104.7 46 Receipts from air freight forwarding 47 Receipts from other aviation services 46 47 Section 2104.8 48 Advertising in newspapers or periodicals 49 Advertising on television or radio 50 Advertising via other means 48 49 50 Section 210-A.9 51 Transportation or transmission of gas through pipes 51 Section 2104.10 52 Receipts from other services/activities not specified 52a Receipts from other services/activities not specified 52 52a 117010183065 4638KC 700W EFTA00810303 soaN38640 IT-204-CP (2018) Page 11 of 11 Payroll A MCTD B New York State 53 Wages and other compensation of employees except general executive officers. . . . 53 54 Average number of individuals employed full time in New York State (excluding employees with partnership-wide authority) 54 Gross proceeds or receipts from certain sales (for apportionment purposes) (see instructions) A MCTD B New York State c Everywhere 55 Sales of loans secured by real property 56 Sales of loans not secured by real property 57 Sales of other asset-backed securities 58 Sales of corporate bonds 59 Sales of physical commodities 55 56 57 58 59 Marked to market net gain or loss from deemed sales (for apportionment purposes) 60 Of loans secured by real property 61 Of loans not secured by real property 62 Of federal debt instruments 63 Of New York State and its political subdivisions debt instruments 64 Of other states and their political subdivisions debt instruments 65 Of government agency debt or asset-backed securities (through exchange) 66 Of all other asset-backed securities 67 Of corporate bonds through licensed exchange or broker/dealer 68 Of other corporate bonds 69 Of physical commodities 70 Of other financial instruments of one type 60 61 62 63 64 65 66 67 68 69 70 Items related to repurchase agreements and securities borrowing/lending agreements 71 Value of reverse repurchase agreements when partnership is purchaser/lender 72 Value of borrowing agreements when partnership is securities borrower 73 Value of repurchase agreements when partnership is seller/borrower 74 Value of lending agreements when partnership is securities lender 75 Interest income from reverse repurchase agreements and securities borrowing agreements 76 Interest expense from repurchase agreements and securities lending agreements 71 72 73 74 75 76 4638KC 700W EFTA00810304 VALAR GLOBAL FUND II LP IT 204-CP, PAGE 1 SUPPORTING SCHEDULES ITEM I METHOD OF ACCOUNTING : OTHER 704(B) PARTNER'S SHARE OF INCOME, DEDUCTIONS, ETC FEDERAL LINE 56 - OTHER DEDUCTIONS OTHER DED INCL IN ITEM L, CURRENT YR INCREASE 414585 TOTAL OTHER DEDUCTIONS 414585 FEDERAL LINE 60 - OTHER ITEMS INVESTMENT INCOME 4431 LESS: INVESTMENT EXPENSE 414585 TOTAL OTHER ITEMS -410154 STATEMENT 1 SXXCG3 1.00) 4638KC 700W EFTA00810305