Disclaimer

A Legal Disclaimer

This confidential information presented on this website (the “Presentation”) is being delivered to you by CEC-X Inc. (collectively with its affiliates, “CEC-X”) on a confidential basis as a sophisticated investor only for informational and discussion purposes. This Presentation and the information set forth herein may not be reproduced or used for any other purpose. This Presentation is confidential and includes CEC-X Trade Secrets. Any unauthorized reproduction or distribution of these materials (in whole or in part), or the disclosure of its contents, is strictly prohibited without the express consent of CEC-X. By accepting this Presentation, you agree to maintain the confidentiality of all information and Trade Secrets that are contained in this Presentation and not already in the public domain.

CEC-X expressly disclaims any and all liability for representations, expressed or implied, contained in, or for omissions from, this Presentation or any other written or oral communication transmitted to any recipient of this Presentation. The information set forth herein is based upon information reasonably available to CEC-X as of the date of this Presentation and CEC-X does not undertake any obligation to update such information at any time after such date. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein CEC-X makes no representation or warranty with respect to the accuracy of such information.

This Presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities of a Facility, Fund or investment vehicle, and shall not be regarded or construed as, a recommendation or solicitation for any Facility, investment, nor financial, legal, tax or other advice of any kind, nor constitute or imply any commitment whatsoever, including, without limitation, an offer to purchase, sell or hold any security, investment, loan or other financial product or to enter into or arrange any type of transaction or investment. Any such offer or solicitation shall be made only pursuant to the applicable constituent documents of any issuer, fund, or investment vehicle. In the event of any conflict between the information herein and information contained in such constituent documents, the information in the constituent documents will control and supersede the Presentation. This Presentation does not constitute a part of such constituent documents. This Presentation does not purport to be complete and is subject to change. Statements contained in this Presentation are based on current expectations, estimates, projections, opinions and beliefs of CEC-X and its affiliates on the date hereof. Such statements involve known and unknown risks and uncertainties, and undue reliance should not be placed thereon. Additionally, some of the matters discussed in this Presentation include forward looking statements. CEC-X has tried to identify forward looking statements by use of terminology such as “may,” “will,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar expressions. Forward-looking statements are subject to several risks and uncertainties, some of which are beyond the control of CEC-X. Actual results, performance, prospects or opportunities could differ materially from those expressed in or implied by the forward-looking statements. Additional risks of which CEC-X is not currently aware also could cause actual results to differ. Considering these risks, uncertainties and assumptions, prospective investors should not place undue reliance on any forward-looking statements. The forward-looking events discussed in this Presentation may not occur. CEC-X undertakes no obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise. 

There can be no assurance that historical trends or practices will continue. Projections are based on assumptions that are subject to material risks and are not a reliable indicator of future events. CEC-X believes the assumptions used to calculate these financial projections are reasonable under the current circumstances, but figures may differ materially from the ones projected above. There can be no assurance that any comparable results will be achieved. Past performance is not indicative of future results.

The information herein is not intended to provide, and should not be relied upon for, accounting, legal or tax advice or investment recommendations. This Presentation is not intended to be relied upon as the basis for any investment decision. No representation or warranty, express or implied, is or will be given by CEC-X or any of its affiliates, directors, officers, employees or advisers or any other person as to the accuracy or completeness of the information in this Presentation or any other written, oral or other communications transmitted or otherwise made available to any recipient, and no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for any errors, omissions or misstatements, negligent or otherwise, relating thereto. Accordingly, none of CEC-X or any of its affiliates, directors, officers, employees or advisers or any other person shall be liable for any direct, indirect or consequential loss or damages suffered by any person as a result of relying on any statement in or omission from this Presentation and any such liability is expressly disclaimed. 

All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to the respective owners and the use of such logos hereof does not imply an affiliation with, or endorsement by, the owners of such trademarks, copyrights, logos and other intellectual property. There can be no assurance that CEC-X will continue to work with any entities described herein. Any discussion and/or inclusion of pipeline investments is for illustrative purposes only. These investments are not subject to a letter of intent, memorandum of understanding or any other binding obligation of CEC-X to make these investments. Nothing herein should be relied upon as a promise or representation as to potential investments by CEC-X. The specific pipeline transaction information contained herein is based upon matters as they exist as of the date of this Presentation and not as of any future date and will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. No assurance can be given that any such pipeline transaction will be allocated to or consummated by a CEC Writer, or, if any such transaction is consummated, that a CEC Writer will be able to implement its business plans with respect to such investment or that such investment will perform to expectations. A CEC Writer may pursue other investments that differ from these investments in material respects. Prospective investors should not base their decisions to invest in CECs on the assumption that any current investment opportunity will be pursued by or consummated by a CEC Writer. There can be no assurance that the operations and/or processes of CEC-X or a CEC Writer as described herein will continue, and such processes and operations may change, even materially. The actual investment process used for any or all of a CEC Writer’s investments may differ materially from the process described herein.

Actual gross and net returns for CEC investments may vary significantly from the targeted returns set forth herein. Any target returns are based on CEC-X’s belief about what returns may be achievable on the types of investments that the Facility intends to pursue. Target returns are based on assumptions that economic, market and other conditions will not deteriorate and, in some cases, will improve. Target returns are also based on models, estimates and assumptions about performance believed to be reasonable under the circumstances, but actual realized returns on a CEC Writer’s investments will depend on, among other factors, the ability to consummate attractive investments, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the targeted returns are based.

Case studies presented herein are for illustrative purposes only and have been selected to provide examples of the types of investments made by investment professionals in a CEC Writing capacity. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein.