Neither McGill University nor the Board of Governors of McGill University has the authority or power to act on behalf of Martlet Capital Management or the Funds it manages, or to incur any expenditures on behalf of Martlet Capital Management or the Funds it manages. Neither McGill University nor the Board of Governors of McGill University shall be liable for any debts or obligations of Martlet Capital Management or the Funds it manages. McGill University is not involved in the daily activities of Martlet Capital Management, including making investment decisions, and therefore does not take any responsibility for the activities of Martlet Capital Management. More specifically, McGill University has no liability under the Units of the Funds managed by Martlet Capital Management, does not guarantee or otherwise stand behind these Units nor does it guarantee performance of the Funds managed by Martlet Capital Management. Any function or activity of Martlet Capital Management carried out by individuals who are also officers or employees of McGill University is carried out exclusively in the name of Martlet Capital Management and McGill University shall have no liability as a result thereof. In addition, McGill University provides no assurance that disclosure in any documentation regarding Martlet Capital Management or the Funds managed by Martlet Capital Management, such as the Offering Memorandum, is complete.