instrument; (ii) is not to be relied upon in evaluating the merits of investing in any securities; and (iii) is provided solely as

reference material for background purposes. You should be aware that investing in a fund sponsored by ICG (an “ICG Fund”)

involves a high degree of risk, and there can be no assurance that an ICG Fund’s investment objective will be achieved or that

you will receive a return on your capital. The possibility of partial or total loss of capital from an investment in an ICG Fund

will exist and you must be prepared to bear such losses. You should refrain from investing in an ICG Fund unless you fully

understand all the risks involved and you independently determine that the investment is suitable for you. ICG is not your

designated investment advisor.

ICG may encounter potential conflicts of interest in connection with the activities of an ICG Fund. Please see the applicable ICG

Fund’s offering memorandum or any other such similar documents for additional information. A private offering of interests

in an ICG Fund may only be made pursuant to the final confidential private placement memorandum for the fund and any

to give any information or make any representations other than as contained in the Memorandum and, if given or made, any

such information or representation must not be relied upon as having been authorized by the fund or any of the ICG Parties.

A prospective investor should not invest in any fund interests unless satisfied that it (alone or together with its investment

representative) has asked for and received all information that would enable the investor (or both of them) to evaluate the

merits and risks of the proposed investment.

Although certain information has been obtained from, and is based upon sources that we consider reliable, none of the ICG

Parties guarantee its accuracy, and it may be incomplete or condensed. All opinions, projections and estimates constitute the

judgement of the ICG Parties, as of the date of the document and are subject to change without notice. The ICG Parties make

no representation or warranty, express or implied as to the fairness, correctness, accuracy or completeness of this document.

The ICG Parties accept no responsibility for any loss arising for any action taken or not taken by anyone using the information

information contained herein constitute “forward-looking statements,” which may be identified by the use of forward-looking

terminology such as “may,” “will”, “should,” “expect,” “anticipate,” “target,” “project,” “forecast,” “estimate,” “intend,”

“continue” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Any forward-looking

statements or results in this presentation are based upon current assumptions, may be simplified and may depend on events

outside ICG’s control. Due to various risks and uncertainties actual events or results or the actual performance of the fund may

differ materially from those reflected or contemplated in such forward-looking statements. Statements herein are made as of

the date hereof unless stated otherwise herein.

This document has been issued and approved for distribution where relevant by ICG Alternative Investments Limited (ICG

AIL), which is authorised and regulated by the UK Financial Conduct Authority. It is not intended for retail clients and is

intended only for investors whom are “eligible counterparties” or “professional clients” as defined by the FCA, and may not,

For the avoidance of doubt, this document will not be issued to or directed at, and any investment in an ICG Fund will not be

available to, persons in any country where such actions would be contrary to local laws or regulations in that relevant country.

This document is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such

distribution or use would be contrary to local law or regulation.