Crystal Amber Fund : Newsletter - January 2017

Strictly private & confidential

Crystal Amber Fund Ltd

January 2017

This presentation is for professional investors only Not for onward distribution

Important information

• This presentation, which provides a brief overview of the history and track record of Crystal Amber Fund Limited (the Company), has been prepared by its investment adviser, Crystal Amber Advisers (UK) LLP (the Investment Adviser), for information purposes only to assist exploratory discussions with a limited number of potential investors in the Company. The Investment Adviser is authorised and regulated in the United Kingdom by the Financial Conduct Authority with firm reference number 468247.

• By receiving this presentation, you will be deemed to have: (a) agreed to all of the following restrictions and made all of the following undertakings; and (b) acknowledged that you understand the legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of this presentation.

• Non-reliance

• This presentation is still in draft form and has not been verified. The information set out in this presentation is subject to updating, completion, revision, verification and amendment, and such information may change materially from what is set out herein. The presentation is in summary form and does not purport to be all inclusive or complete. Neither the Company nor the Investment Adviser is under any obligation to update or keep current the information contained in this presentation. Except where otherwise indicated in this presentation, the information provided herein is based on matters as they exist as of the date of preparation 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. The information in this presentation should not be relied on for the purposes of making an investment in the Company.

• This presentation contains historic financial information in relation to the Company and track record information in relation to the Investment Adviser. There is no guarantee that past indicators will result in profits or that they will not result in losses. Investors are advised to fully understand all risks associated with any kind of investment before making any such investment. Past performance is not an indicator of future results.

• Certain information contained in this presentation constitutes "forward-looking statements", including, but not limited to, statements as to the Company's business, results of operations,

  financial condition, liquidity, performance and prospects and trends and developments in the markets in which the Company operates. "Forward-looking statements" can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue," "target" or "believe" (or the negatives thereof) or other variations thereon or comparable terminology. These statements and forecasts involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these "forward-looking statements". Due to various risks and uncertainties, actual events or results or actual performance of the Company may differ materially from those reflected or contemplated in such "forward-looking statements". As a result, investors should not rely on such "forward-looking statements" in making their investment decisions. No warranty, representation, acknowledgement, agreement or undertaking is made as to the achievement or reasonableness of and no reliance should be placed on such "forward-looking statements". Nothing in this presentation should be construed as a profit or dividend forecast.

• Potential investors should be aware that any investment in the Company is speculative, involves a high degree of risk, and could result in the loss of all or substantially all of their investment. Results can be positively or negatively affected by market conditions beyond the control of the Company or any other person.

• None of the Company or any of its directors, officers, employees, agents or advisers or any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the contents of this presentation. In particular, but without prejudice to the generality of the foregoing, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any assumptions, targets, forecasts, projections, estimates or prospects with regard to the anticipated future performance of the Company. No responsibility or liability is accepted by any such person for any errors, misstatements or omissions in this presentation. The exclusions set out in this paragraph do not extend to an exclusion of liability for, or remedy in respect of, fraudulent misrepresentation.

• No liability whatsoever (whether in negligence or otherwise) arising directly or indirectly from the use of this presentation is accepted, and no warranty, representation, acknowledgement, agreement or undertaking, express or implied, is or will be made by the Company or the Investment Adviser or their respective officers, members, employees, agents, advisers or affiliates with respect to the information or opinions contained in this presentation or for any errors, omissions or misstatements and none of them accepts any responsibility or liability as to its accuracy or completeness or as to the suitability of any particular investment for any particular investor or for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. In addition, no duty of care or otherwise is owed for any loss, cost or damage suffered or incurred as a result of the reliance on such information or opinions or otherwise arising in connection with this presentation. In all cases, each recipient should conduct its own investigations and analysis of the Company and such recipient will be solely responsible for forming its own views as to the potential future performance of the Company.

• No offer

• Neither this presentation nor any of the information contained in it forms or constitutes an offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company nor will it form the basis of any contract for the purchase of or subscription for such securities.

• This presentation does not constitute a prospectus, admission document, offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision and should not be considered as a recommendation that any investor should subscribe for or purchase any securities. Investors must only subscribe for or purchase securities referred to in this presentation on the basis of information contained in an appropriate offering document and not in reliance on this presentation.

• Recipients of this presentation who intend to apply for new securities in the Company are reminded that any such application may be made solely on the basis of the information and opinions contained in a shareholder circular and information document relating thereto as and when the same becomes available, which may differ materially from the information and opinions contained in this presentation.

• Confidentiality and restrictions on distribution

• The contents of this presentation are strictly private and confidential and may not be published, reproduced, copied, passed on or disclosed, in whole or in part, to any third party without the prior written approval of the Company. Failure to comply with these restrictions may constitute a violation of applicable securities laws.

• The distribution of this presentation may, in certain jurisdictions, be restricted by law. By receiving this presentation, you warrant, represent, acknowledge, agree and undertake that you are able to receive this presentation and related information without contravention of any legal or regulatory restrictions applicable to you.

• The material set forth herein is for information purposes only and does not constitute an offer of securities for sale, or the solicitation or invitation of any offer to buy or subscribe for or underwrite or otherwise acquire securities in the United States or any other jurisdiction in which such offer or solicitation is unlawful. The securities of the Company have not been and will not be registered under the US Securities Act of 1933, as amended (the Securities Act) or under the laws of any state or other jurisdiction of the United States, and may only be offered or sold within the United States pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. The Company has not registered and will not register under the US Investment Company Act of 1940, as amended (the Investment Company Act), and the Investment Adviser has not registered and does not intend to register under the US Investment Advisers Act of 1940, as amended (the Investment Advisers Act). Investors who purchase securities of the Company will not have the benefits and protections of the Investment Company Act or the Advisers Act. No public offering of securities of the Company will be made in the United States.

• In the United Kingdom, this presentation is directed solely at persons having professional experience in matters relating to investments and who are investment professionals as specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Financial Promotions Order), to persons who are high net worth companies, unincorporated associations or high value trusts as specified in Article 49(2) of the Financial Promotions Order or to any other persons to whom it may lawfully be communicated (all such persons together being referred to as relevant persons). This presentation must not be acted on and relied upon by any person. Any investment or investment activity to which this communication relates to is available to relevant persons and will be engaged in only with relevant persons. In addition to the foregoing restrictions, this presentation is made and directed only at persons falling within the meaning of "qualified investors" as defined in section 86 of the Financial Services and Markets Act 2000 (as amended).

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