EFTA Document EFTA01455446

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