EFTA Document EFTA01451496

SOF 111- 1081 Southern Financial LLC NOT APPLICABLE TO THE GENERAL PARTNER OR THE INVESTMENT MANAGER (EXCEPT FOR CERTAIN MINIMUM REQUIREMENTS THAT MAY APPLY IN CERTAIN EU COUNTRIES AS A RESULT OF THE MARKETING OF INTERESTS TO EU INVESTORS). THE MASTER FUND MANAGER HAS APPLIED FOR AUTHORIZATION IN THE UNITED KINGDOM BY THE FINANCIAL CONDUCT AUTHORITY (-FCA") TO THE EXTENT REQUIRED UNDER THE AIFM DIRECTIVE AND ITS IMPLEMENTING LEGISLATION AND AS OF THE INITIAL CLOSING OF THE MASTER FUND EXP