Harvest stargate fund version october en8 2013

Harvest Stargate Fund Ltd: Registered and Regulated by the Central Bank of CyprusAs an international Collective Investment Scheme Law No 47 (1) of 1999 (ICIS).

OCTOBER 2013 (V8EN)PRIVATE & CONFIDENTIAL

Offered to Accredited & Experienced Investors ONLY

CONTACT: Telephone + 357 22 552800 [email protected] document is for informational purposes only. This document does not constitute an offer, an invitation to offer,or a recommendation to enter into any transaction, nor does it constitute investment advice. This material does not constitute a solicitation to buy or sell securities in any jurisdictionin which such a solicitation is not authorized or to any person to whom it is unlawful to make such a solicitation,

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Executive SummaryFund Structure Indicative Summary Terms

Final Maturity • Open Ended Unlimited holding period. Minimum Holding Duration two Years.Currency • EUR or currency equivalent on the subscription date.Non PrincipalProtection

• The fund is not Capital Guaranteed at Maturity.

Form • Shares – ICIS UNITSNotional • [●] MM, minimum 1MMIssue Price • CURRENT MONTHLY NAVRedemption Amount • The shares will be redeemed on the Redemption Months NAV:

• The Shares may be redeemed prior to that on a monthly basis after year 3 .

• Share Price (t) – Early Redemption Premium, whereby the Early RedemptionPremium is initially 4%, and then decreasing by 1% on each anniversary of the IssueDate, until reaching 0%

Additional Investments • Investors will be able to subscribe additional amounts in the fund on a monthlybasis, with rounds of 10,000 EURO

Initial Allocation intothe Underlying Fund

• The Initial Allocation of the Issuer to the Underlying Fund will be equal to 100%;thereafter the Trading Administrator will adjust the allocation between the assets ofthe Issuer in accordance with the Rebalancing Rules.

Holding Period • 3-5 YearsTransaction Fees

• Investment Manager Fees: 2.0% annual management fees on NAV and an incentive –performance fee of 20% of annual returns in excess of 10%

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Risk Statements

Investment Horizon: The fund has a minimum holding period of 2 years with unlimited duration. Investors must maintaincapital for this period.

Non-Reliance on HistoricReturns:

Past performance does not guarantee future performance; investment in the fund should be based upona complete assessment of their terms.

Limitations of SimulatedReturns:

Certain presentations and back-testing or other statistical analysis materials that may have beenprovided in connection with explanations of the mechanics and/or potential returns of the Notes use proforma analysis and hypothetical circumstances to estimate how the Reference Portfolio may haveperformed prior to its actual existence. Harvest provides no assurance or guarantee that the Notes willoperate or would have operated in the past in a manner consistent with those materials. As such, anyhistorical returns projected in such material, or any hypothetical simulations based on this analysis,provided in relation to the fund may not reflect the performance of, and are no guarantee or assurancein respect of the performance or returns of, the fund.

Non-Linear Returns: Absent the occurrence of a Knock Out, the return on the Notes will be based on the performance of theReference Portfolio over time. As such it is not possible to predict the return on the fund simply byreference to the initial and final values of the Reference Portfolio. The application of the Fund’sMechanics may result in an opportunity cost when the return on the fund is compared to either a directinvestment in the Reference Portfolio or as the underline assets principal protected investment wherethe exposure to the Reference Portfolio is achieved through a conventional call option issued by theproduct providers.

Clean Up Event: If there is a significant reduction in either the value of the Reference Portfolio or, shortly after issuanceof the fund, a rapid decline in interest rates, a Clean Up Event may occur. Under both suchcircumstances, the return on the fund will cease to offer any potential capital gain as a function of thefuture performance of the Underlying Fund and will effectively become that of the remaining assetclasses.

Credit Risk: The value of the fund may decline dramatically based on market conditions. Investors understand thatthere are risks involved and capital may decline due to market conditions and valuations. Pastperformance is not guaranteed for future returns.

Disclosure of InvestorIdentity:

It may be required for purposes of the Investment Manager’s compliance procedures to disclose to thename of the initial investor in the fund.

LIMITED OFFER

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Table of Contents

Benefits of the Harvest Stargate Fund Ltd,Summary: A Multi-Asset Fund offering several key Advantages.

The Benefit of Investing in International Collective Investment Funds (ICIS):

Given the recent volatility in stock markets worldwide, we wish to give investors an update on the benefits of holdingICIS, as part of a balanced and diversified portfolio.

The Harvest Stargate Fund Ltd, offers individual investors access to a unique multi-asset, multi manager investmentmethodology usually only used by sophisticated institutional investors. The fund’s objective is to deliver returns inexcess of those offered by traditional investment funds, by the careful and active allocation of the portfolio acrossthree key asset classes, combined with the active selection of the best performing underline fund managers. The fundprovides diversification-the foundation of a successful portfolio. The fund invests in three strategies each managedby a leading specialist manager.

Investing in just one asset class carries with it a higher degree of risk and the Harvest Stargate Fund Ltd adopts anactive asset allocation policy that ensures the fund invests across a spread of asset classes that offer the best riskadjusted return. In addition, Harvest Stargate Fund Ltd and its advisors, aim to select the best performing funds foreach asset class which are then analyzed on an ongoing basis.

NEW ISSUE OCTOBER 2013– LIMITED OFFERING-ACCREDITED INVESTORS

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HARVEST STARGATE FUND LTD- BENEFITS

RISK MANAGEMENT PERFORMANCE - RETURN

RISK MANAGEMENTCOMPANY SELECTION COMPLIANCEReporting

RESEARCH

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Competitive FundManagement

Competitive FundManagement

Integrated Fund Management

FUND Style

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THE IMPORTANCE OF ASSET CLASSES

TheFund

The most popular traditional asset classes are cash, bonds, equities, real estate,futures, forex and energy hedge funds. Harvest Stargate Fund Ltd, combines theseasset classes, with the exception of cash, in order to create the next generation ofmulti asset Global Macro investments.

The different asset classes will perform their best at different stages of a normalinvestment cycle. When building a portfolio, it is therefore essential that it should notonly be spread between different asset classes, but should also make an allocation tothe asset class that is likely to provide the best return in the following year. Whilstequities may be rising, bonds or property could be falling, and when equities fall,hedge funds could perform well.

The Stargate Fund is an aggressive market neutral fund with a return objective of 10-15% annually with a standard deviation of approximately 4%-7%. It allocates capitalamong Fund Managers who have stated investment objective of returns in excess of15% per annum. It is expected that the fund will have higher than average volatility butthrough diversification of strategies can mitigate drawdown's during bear marketenvironments. In positive market periods, the fund should produce returns abovemarket benchmarks.

HIGH RETURN POTENTIAL

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Fund Structure1/3 of the fund’s assets are investment into protected asset classes with100% Initial Participation or Real Estate Assets.

SPVPut Option

at Guaranteed Amount

Investment€ 100

FundUnits

Investor

Administrator

Zero Coupon Bond(Riskless)Underlying Fund

(Issuer)

ISSUER

at Maturity

Part 1:

Dynamic Rebalancing

€ 100 initially € 0 initially

Part 2:Put Option

The fund managerDetermines the proportion

of Assets investedin the Underlying Fund or

the 0-Coupon BondOr Real Estate Assets

• Part Portfolio Capital protection is composed of 2 parts:

1. A dynamic rebalancing between an investment into the Underlying Fund and a zero coupon bond. Objective: to ensure that funds are invested in the Underlying Fund for the maximum time possible Through the fund structure it is possible to capture 100% of the performance of the Underlying Fund

2. An unconditional put at 100% at maturity To ensure full repayment of 1/3 capital, in case the dynamic rebalancing is insufficient

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Successful Investment Strategy

• The Harvest Stargate Fund Ltd, offers individual investors access to unique multi-asset, multi manager investmentstrategy usually only used by sophisticated institutional investors and hedge fund managers. The principal questionsfaced by any private investor today are: how to allocate their investable funds between the various asset classesavailable; how would this asset allocation should be regularly reviewed, and; how they can be certain that they’re inthe best possible funds run by the best possible fund managers. The Harvest Stargate fund’s objective is to deliverreturns in excess of those offered by traditional investment funds, by the careful and active allocation of the portfolioacross the five key asset classes-bonds, equities, property, capital protected funds and commodities-combined withthe active selection of the best performing underlying fund managers.

Global Macro/RealEstate

Capital Preservation

Equity Long/Short• Primary Fund strategy focused on undervalued

equities in Europe and US either directly or throughselected highly rated mutual funds. Investments inthe CY and GR markets will take an opportunisticapproach based on fundamental catalysts that willyield capital gains for the fund.

• Secondary strategy overlaying portfolio focused ondifferent products. The addition of capitalpreservation as the strategy yields stability and earnspossible coupons for the fund.

• Tertiary strategy overlaying portfolio focused oncurrency management and occasional non-equityopportunities such as bonds, forex, commodities andreal estate funds and property assets.1/3 of theFunds assets are allocated into this dynamic strategywhich offers stability and growth.

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The Fund’s Asset Allocation ProcessFinancial Instrument’s

Futures/Options

Equities

High YieldFixed Income

Real EstateAssets

Energy Focus60%

Hedge Funds

GLOBAL ENERGY DIVERSIFICATION

Fund’s UnderlineStrategies

Investment Strategy- Primary Strategy Overview

Strategy Overview

• The investment seeks long-term growth of capital. The fund invests, under normal circumstances, at least80% of its net assets (plus any borrowings for investment purposes) in securities of issuers engaged inenergy-related industries. It invests predominantly in equity securities. The principal type of equitysecurities purchased by the fund is common stock. The fund may invest up to 100% of its net assets inforeign securities of issuers doing business in energy-related industries with operations or interest in theEastern Mediterranean Sea. It invests in issuers of all market capitalizations.

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INVESTMENT FOCUS GEOGRAPHIC AREA

Scientists recently discovered a massive offshore reserve of an estimated 122 trillion cubic feetof natural gas called the Levant Basin Province. While it is one of the world's richest natural gasreserves, the Levant Basin Province is located between countries with endless amounts ofmutual hatred. It straddles the sea borders of Israel, Lebanon, Palestine, the Republic of Cyprus.The largest section discovered so far, the Leviathan gas field, is believed to possibly contain,alongside natural gas, 4.2 billion barrels of oil. Leviathan straddles the Israeli-Lebanese maritimeborder.

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Primary Strategy: FOCUS ON OIL & NATURAL GAS COMPANIES

• Primary Strategy: FOCUS ON ENERGY-NATURAL GAS AND OIL (60% ASSET ALLOCATION)

• The First and core strategy seeks to buy undervalued equities either on an individual or sector basis and holdthem for capital appreciation and income for the medium term. The Fund will engage models prior in investingin speculative investments and simulate possible return vs. risk prior of entering in such transactions.

• The strategy also seeks to identify major changes of direction in key markets through independent analysis ofrelevant macro-economic factors, trend developments and investor sentiment. Harvest seeks to vary overallmarket exposure accordingly, either through further allocations/reductions to existing holdings orinvestment/divestments in market heavy weights. The strategy does not aim at a particular geographicalexposure but rather is driven by a sector approach. Historically, Europe and US have provided the mainholdings for the strategy, but Israel and Russia are currently in focus.

EAST MED INVESTMENT OPPORTUNITIES

– Global gas use overnext 30 years

(bcm):

2000 - 2,5272010 - 3,3772020 - 4,2542030 - 5,047

Tamar and Leviathan: the two biggestdeep-water Gas discoveries of the past 10 years

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MED ENERGY Primary Strategy: Equities Long / Short / Hedged

GLOBAL MACRO PRIMARY STRATEGY (FOCUS ON MED ENERGY)

• EAST MED MAJOR STAKEHLDERS: Delek Energy, Delek Drilling and Avner, Nobel Energy, Lukoil, Noya Oil & Gas, GlobeExploration Partnership, Modiin Energy LP, ENI, initiating coverage on the fund diversification policy. Triple digit upsidepotential of an oil discovery. Symbols: (DELKG.TA), (AVNRP.TA), (DEDRP.TA), (DLEN.TA), (NBL. NYSE), (LUKOIL. DR) (CUSIP677862104), MICEX (Moscow), Gazprom (OGZPY), TOTAL OIL (TOT.NYSE), (GAS.CSE), Israel Opportunity Energy Resources, LP(ISOPL.TA), TSX.V: ADL

• The value of the Levithan, Tamar, and the Cyprus Aphrodite Reserves (12) can be derived from two sources: The value of thenatural gas reserves and the value of the oil potential. The current share prices do not reflect value of oil potential. Ratio shareprice partially reflects an oil discovery, highest upside potential from an oil discovery. Levithan oil results likely in early 2012. US-based Noble Energy has discovered gas in Block 12 of Cyprus’ Exclusive Economic Zone (EEZ) and the reserve is thought to be 30-40% higher than estimates. Tamar was discovered in 2009 and holds an estimated 8.7 tcf (246 bcm) of natural gas. It is expectedto come on-stream in 2013 and investment is estimated at $4 bln. Peak production for the first phase is targeted at 1.0-1.2 blncfd. Leviathan was discovered in December 2010 with reserves estimated at 16 tcf (453 bcm). It is estimated its production lifewould be 2017-48 with gas sold from two LNG trains, each with a capacity of 7.5 mln tons/year. The first would come on-streamin 2017, the second in 2020. Total development costs would amount to $14 bln. It forecasts that 75% of the LNG would beshipped to Europe and the remaining 25% to Asia. On September 2013 Nobel finished its second appraisal drill successfully anddata are currently evaluated and processed as per quality, quantity and monetization potential.

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KEY PLAYERS– NOBEL ENERGY OPERATIONS (NYSE) NBL

EASTERN MEDITERRANEAN –NOBEL ENERGY OPERATIONS (NYSE –NBL)

• Noble Energy has been operating in the Mediterranean Sea, offshore Israel, since 1998. We have a 47 percent interest in the Mari-B field, the first offshore natural gas production facility in Israel. Production from Mari-B began in 2004 and sales volumes haveincreased as Israel’s power demand and pipeline infrastructure have expanded tremendously. A string of successful wells atTamar, Dalit, Leviathan, Dolphin, and Tanin have resulted in several discoveries, including a very large inventory of natural gasresources. In late 2011, we announced a significant discovery offshore Cyprus which further expanded the resource inventory.Development at Tamar progresses with production expected by April 2013.

• NBL has a 36 percent operated working interest at Tamar, with gross mean resources of 9 trillion cubic feet (Tcf) of natural gas.Tamar was the largest deep-water natural gas discovery in the world in 2009. Sanctioned in September 2010, initial expectationstarget commissioning in late 2012. Development drilling at Tamar is underway, and we are continuing discussion with a growingnumber of parties to deliver reliable and clean energy resources to customers.

• Noble Energy is working on providing additional gas deliverability until Tamar comes online in 2013. Noa, a nearby field, is beingdeveloped and is expected to provide 100 million cubic feet per day (MMcf/d) of production by September 2012.

• Leviathan represents the largest exploration success in Noble Energy's history, with gross mean resources of 17 Tcf of natural gas.NBL is actively studying multiple export options, including both LNG and pipeline scenarios. We drilled a successful appraisal wellin 2011 and are deepening the initial discovery well to test for a deep oil concept.

• In late 2011, NBL announced a discovery offshore Cyprus with estimated gross mean resources of 7 Tcf. In early 2012, NBLannounced our sixth consecutive field discovery at Tanin with estimated gross mean resources of 1.2 Tcf. NBL now discoveredapproximately 35 Tcf gross of new gas resources from this region.

Source Nobel Energy.

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KEY PLAYERS– NOBEL ENERGY OPERATIONS (NYSE) SYMBOL: NBLABSTRACT FROM ANALYST PRESENTATION DECEMBER 6TH 2012

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EAST MED ENERGY Strategy: Equities

(EAST MED ENERGY)

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EAST MED ENERGY Strategy: Equities – Israel EEZ Key Developments

(EAST MED ENERGY)

East Med Licenses and Discoveries - showing location of Gabriella(Source: Adira Energy)

KEY ISRAEL PLAYERS

According to information on the operator Adira Energy'sweb site, potential reserves for the Gabriella license are asfollows: Best Estimate (P50) Contingent Oil110.1MMBO; Best Estimate (P50) Prospective Condensate17.4.MMB; Best Estimate (P50) Prospective Gas 751.1BCF.Current licensees are: Adira Energy (operator)10%; Brownstone Energy 15%, Modiin Energy 70%; Tohar5%. Estimated gross dry hole cost of the well (according toAdira) is $96m.

Modiin Energy, controlled by Tzahi Sultan and NochiDankner's IDB Holding Corp, and Adira Energy own therights to the offshore Gabriella license. Drilling is due tobegin in the first half of this year. Adira Energy Ltd. is an oiland gas company which is focused in the EasternMediterranean. The Company has three petroleumexploration licenses offshore Israel ; the Gabriella, Yitzhakand Samuel Licenses. These licenses are locatedrespectively 10 km offshore between Netanya and Ashdod,17 km offshore between Hadera and Netanya and adjacentto the coast between Ashkelon and Bat-Yam.

TSX-V:ADLOTCBB:ADENF

FRANKFURT: AORLB8

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EAST MED ENERGY Strategy: Equities

(EAST MED ENERGY)

Source Adira Energy

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EAST MED ENERGY Strategy: Equities

(EAST MED ENERGY)

Source Adira Energy

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MED ENERGY Primary Strategy: Equities – Key Developments

(MED ENERGY)

Source: Israel Opportunity Resources L.P

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INDUSTRY GROWTH LNG

-

5

10

15

20

25

30

35

200 7 200 9 201 1 201 3 201 5

Bc

f/d

ay

Peru

Malaysia

Indonesia

Brunei

Australia

Nigeria

Yemen

UAE

Oman

Qatar

Egypt

Algeria

Trinidad

World LNG Production May Double by 2016

LNG hub in Cyprus seems most likely:

Cyprus seems to be gaining popularity as a potential hub for a future LNG facility that would help pump natural gas upstream fromthe Israeli and adjacent Cypriot offshore fields and use the island to transport the product to customers. Two reports have cited thecurrent geopolitical climate in the Middle East and North Africa as reinforcing the case for Israeli gas, while looking at Cyprus as analternative solution to lengthy and politically sensitive pipelines in other countries. Recent natural gas discoveries halfway betweenCyprus and Israel at the Tamar and Leviathan fields estimates gas reserves at 25 tr. cubic feet (705 bln cu.m.), enough to meetdomestic demand for several decades, and enough to transform Israel into an energy exporter, the Middle East Economic Survey.

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INDUSTRY FOCUS – RECENT DEVELOPMENTS

“With the increasing financial burdens clouding Europe's future, it is crucial to ascertain how we can explorenew opportunities to gauge how the new discoveries will help pave the way out of an economic crisis and leadto forming new business alliances, shape difficult strategic relations and of course determine how new energywill bring about a wealth of positive change in old waters”.

•Cypriot minister: Block 12 gas production by 2017•Block 12, owned 70% by Noble Energy and 30% by Delek, has an estimated 8 trillion cubic feet of gas, just under half the sizeof the nearby Israeli Leviathan field.

•Cypriot Minister of Commerce, Industry and Tourism Mr. Neoklis Sylikiotis says that Noble Energy Inc. (NYSE: NBL) plans to begina second round of drilling at Block 12 in 2013, begin production by 2017, and begin exports by 2019. Noble Energy owns 70% ofBlock 12, and Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) eachown 15%. Block 12 has an estimated 8 trillion cubic feet of gas, just under half the size of the nearby Israeli field, Leviathan, ownedby the same companies together with Ratio Oil Exploration (1992) LP (TASE:RATI.L)

•Mr. N Sylikiotis added that Cyprus expects to earn €300 million from its offshore gas and oil concessions.•According to the "Cyprus Mail" today, "In the government gazette edition of August 17, the US firm invited bids for two separatecontracts which, taken jointly, suggest that it is pressing forward with the natural gas field - approximately nine months after itannounced a significant find there." It adds, "Subsea testing costs around US$350 million. Analysts say the total tab for developingthe Block 12 prospect, including all the facilities for subsea testing as well as the pipelines, could come to $3.5 billion."•Published by Globes [online], Israel business news - www.globes-online.com - on August 22, 2012

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INTERNATIONAL INTEREST – FUTURE DEVELOPMENTS

• Gas Liquefaction

• The Russian gas producer may invest in Cyprus’s gas industry, including gas production, transport andprocessing, if it is successful in the licensing round, Pilides said by phone from Nicosia. Liquefaction andpetrochemical projects may follow, he said.

• Chinese companies have already submitted proposals for construction of a gas facility, Sylikiotis said lastweek.

• The east Mediterranean island is working with Israel, 300 miles (480 kilometers) south across the sea, onplans to build a pipeline to link their gas fields before the fuel is liquefied for export to Europe or Asia,Israeli Prime Minister Benjamin Netanyahu said Feb. 16.

• Cyprus must hold a “considerable” stake in a proposed liquefaction plant to export its gas, Sylikiotis said onMarch 28. As construction costs will be “extremely high,” Cyprus is seeking “multiparty cooperation withthe involvement of other important countries and energy giants,” he said at the time.

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REGIONAL ENERGY HUB– FUTURE DEVELOPMENTS

• Gas Liquefaction

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REGIONAL ENERGY HUB– FUTURE DEVELOPMENTS

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REGIONAL ENERGY HUB– FUTURE DEVELOPMENTS

• Gas Liquefaction

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INDUSTRY FOCUS – REGIONAL EFFECTS

• Shekel appreciation and “Dutch disease” to be mitigated through a SWF

With Israel’s current account surplus likely to get even bigger in the future, concerns have beenraised about “Dutch disease”, i.e. a large appreciation of the shekel damaging the competitivenessof Israel’s non-energy exports. While further shekel appreciation appears very likely, we think theextent of appreciation can be reduced through the establishment and careful management of aSWF that would help to sterilize a large part of the natural gas-related FX inflows.

• The real game-changer could be oil

Geological tests suggest a possibility that, in addition to natural gas, Israel might also find sizeablequantities of offshore oil. While the ‘probability of success’ is currently considered to be low, ourcalculations suggest that, in the event of success, oil could potentially deliver a boost to GDPgrowth, the budget and the external balance that might potentially be even bigger than the impactfrom natural gas. This would also imply a larger appreciation potential for the shekel and an evengreater requirement to manage the resulting macroeconomic challenges through a carefullymanaged sovereign wealth fund.

More meaningful results of geological tests on oil are expected in late 2013.

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Geographic Map of Nobel Energy Operations

Source: Nobel Energy

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Geographic Map of Delek Energy Operations

Source: Delek Energy

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Fund Secondary Strategy: High Yield Global Fixed Income

Franklin Templeton Global High Yield Fund LU0300741062 USD Fixed Income High Yield

Franklin Templeton Income Fund LU0098860793 USD Global Balanced

Allianz Euro High Yield Bond Fund Class A EUR LU0482909818 EUR Euro High Yield Bond

Fidelity Select Utilities Portfolio FSUTX USD Utilities Growth Portfolio

Top Holdings: These securities do not represent all of the securities purchased, sold or recommended for the fund, and the readershould not assume that investment in the securities listed was or will be profitable. The portfolio manager for the Fund reserves theright to withhold release of information with respect to holdings that would otherwise be included in the top 10 holdings list. Theinvestment policy is geared towards generating capital growth in Euro terms over the long term. The Fund assets are invested inInterest-bearing Securities. Index certificates and other certificates whose risk profile typically correlates with Interest bearingSecurities or with the investment markets to which these assets can be allocated may also be acquired for the Sub-Fund. The value ofthe fund's domestic and foreign investments will vary from day to day in response to many factors. Stock values fluctuate in responseto issuer, political, regulatory, market, or economic developments. You may have a gain or loss when you sell your shares.Investments in foreign securities, especially those in emerging markets, involve risks in addition to those of U.S. investments,including increased political and economic risk, as well as exposure to currency fluctuations. Because FMR concentrates the fund'sinvestments in a particular industry, the fund's performance could depend heavily on the performance of that industry and could bemore volatile than the performance of less concentrated funds and the market as a whole. The fund is considered non-diversified andcan invest a greater portion of assets in securities of individual issuers than a diversified fund; thus changes in the market value of asingle investment could cause greater fluctuations in share price than would occur in a more diversified fund. The utilities industriescan be significantly affected by government regulation, financing difficulties, supply and demand of services or fuel, and naturalresource conservation.

Fund Name CUSIP/Symbol Currency Investment Style

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IMPORTANT INFORMATION

“The Central Bank of Cyprus shall not be liable by virtue of its recognition of the ICIS or byreason of its exercise of the functions conferred on it by the International Collective InvestmentSchemes Law. Recognition of the ICIS does not constitute a warranty by the Bank as to thecreditworthiness or financial standing of the various parties to the ICIS”.

Supervision of ICIS

In accordance with section 3 of the Law, the Central Bank of Cyprus is the regulatory andsupervisory authority in the Republic of Cyprus for ICIS, their managers and trustees.

An ICIS must sell, redeem or repurchase its units at the request of unit holders, in accordancewith its constitutional documentation. Units may not be issued as partly paid and may not besold unless the equivalent of the net issue price is paid. Basic Rules for the calculation of sale,redemption or repurchase price can be found in “Regulations on the valuation of theproperty of an ICIS”.

Taxation

Any gains or profits generated by an ICIS of any type, including a unit trust or an investmentlimited partnership, are subject to an effective tax rate of 0,425%, while no further tax isimposed on any dividends or other distributions made by an ICIS to its unit holders. Theincome of managers and trustees, if not permanent residents of the Republic, which isgenerated from services they offer to ICIS is exempt from income tax.

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Professionals

• Fund Regulator: Central Bank of Cyprus,• Internal Auditor: KPMG Advisory Services Ltd• Administrator – Hellenic Bank Public Ltd• Custodian - Hellenic Bank Public Ltd• Auditors – PKP Professional Services Ltd• Legal Advisor – Drakos & Efthymiou• Tornaritis Law Firm – Trusts and Legal Administration• Bankers - Hellenic Bank Public Ltd• Interactive Brokers LLP• Deutsche Bank Securities Israel Ltd via Hellenic Bank Administrators and

Custodians.• XNET Systems – CTA Systems Modeling• Probanx Portfolio Management Solutions

Professionals

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Important Legal Note

• The material provided herein is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offerto buy any securities relating to any of the products referenced herein, notwithstanding that any such securities may be currentlybeing offered to others. Any such offering will be made only in accordance with the terms and conditions set forth in the OfferingMemorandum pertaining to such fund. Alternative investments such as hedge funds and ICIS are subject to less regulation thanother types of pooled investment vehicles, may be illiquid and can involve a significant use of leverage, making them substantiallyriskier than the other investments, including any products which may be shown as comparison herein. Prior to investing, investorsare strongly urged to review carefully the Offering Memorandum (including the risk considerations described therein), and allrelated fund documents, to ask such additional questions of the Investment Manager as they deem appropriate, and to discussany prospective investment in the Fund with their legal and tax advisers in order to make an independent determination of thesuitability and consequences of an investment.

• This presentation does not constitute an offer or solicitation to any person in any jurisdiction in which such offer or solicitation isnot authorized or to any person to whom it would be unlawful to make such offer or solicitation. It is the responsibility of anyperson or persons in possession of this material to inform themselves of and to observe all applicable laws and regulations of anyrelevant jurisdiction. Prospective investors should inform themselves and take appropriate advice as to any applicable legalrequirements and any applicable taxation and exchange control regulations in the countries of their citizenship, residence ordomicile which might be relevant to the subscription, purchase, holding, exchange, redemption or disposal of any investments.

• Investment in ICIS Funds are suitable only for sophisticated investors for whom an investment in such fund does not constitute acomplete investment program and who fully understand, and are willing to assume and understand, the risks involved. While thegiven material is subject to change and, although based upon information which we consider reliable, it is not guaranteed as toaccuracy or completeness. No person has been authorized to give any information or to make any representation, warranty,statement or assurance not contained in the Offering Memorandum and, if given or made, such other information orrepresentation, warranty, statement or assurance may not be relied upon.

• Past performance is not a guide to future performance and the value of investments and the income derived from thoseinvestments can go down as well as up. Future returns are not guaranteed and a loss of principal may occur. Harvest FinancialServices Ltd makes no warranty or representation that the security and or recommendation/the fund made are appropriate for allrecipients and investors.

• Opinions expressed are current opinions as of the date appearing in this material only. No part of this material may be i) copied,photocopied or duplicated in any form, by any means; or ii) redistributed without Harvest Financial Services Ltd prior writtenconsent.