TERMS OF USE

By entering the QFR Capital Management, L.P. ("QFR Capital") website, you acknowledge your agreement with and understanding of the following Terms of Use pertaining to this website including all material on it. QFR Capital reserves the right to amend these Terms of Use at any time without notice. Accordingly, please continue to review these Terms of Use whenever accessing or using this website. Use of this website after the posting of modifications to these terms of service will constitute your acceptance of these terms as modified.

NO OFFER OR SOLICITATION

The information on this website does not constitute the provision of investment advice. The information on this website is provided solely for general informational purposes and does not create a business or professional services relationship with the user and QFR Capital. Neither the information nor any opinion contained herein constitutes an offer, or a solicitation of an offer, to buy or sell any securities, other financial instruments, or services of QFR Capital. Any such offer or solicitation shall be made only pursuant to the confidential offering memorandum for a fund, which qualifies in its entirety the information set forth herein and contains a description of the risks of investing. The offering memorandum relating to a fund should be reviewed carefully prior to investment in that fund. QFR Capital makes no representations that transactions, products or services discussed on this website are available or appropriate for sale or use in all jurisdictions or by all investors. Those who access this website do so at their own initiative and are responsible for compliance with local laws or regulations.

OWNERSHIP OF WEBSITE; COPYRIGHTS; TRADEMARKS; PROPRIETARY NOTICES

QFR Capital owns and maintains this website. The trademarks, logos and service marks on this website are the property of QFR Capital and its affiliates.

The information provided on this website may not be republished or redistributed, in any format, without the express prior written consent of QFR Capital. The copyright and other proprietary notices or legends on any information downloaded or printed from this website must be left intact. These Terms of Use are not intended to, and will not transfer or grant any rights in or to the information on this website and all such rights are reserved by QFR Capital.

This website may not be used for any unlawful purpose or in any manner inconsistent with these Terms of Use. This website may not be used in any manner that could compete with QFR Capital. You agree not to violate, or attempt to violate, the security of this website, including by transmitting materials that contain viruses, worms, time bombs, or other computer programming routines or engines with the intent or effect of damaging, destroying, disrupting or otherwise impairing a computer's functionality or the operation of this website.

NO RELIANCE

The information set forth herein has been obtained or derived from sources believed by QFR Capital to be reliable. However, QFR Capital does not make any representation or warranty, express or implied, as to the information's accuracy or completeness, nor does QFR Capital recommend that the attached information serve as the basis of any investment decision. Any reliance on the information provided herein is solely at the user's own risk. Opinions and any other contents at this website are subject to change without notice. This website may contain links to other sites not supported by QFR Capital. Such links are provided as a convenience to the user. The inclusion of any link does not constitute an endorsement, authorization, sponsorship, affiliation or monitoring by QFR Capital with respect to such linked website or its owners. QFR Capital has not verified the accuracy or completeness of any information in such linked websites, and makes no representations as to the information contained therein. Accessing any linked websites is at the user's own risk. The user should review the applicable terms of use and privacy policies in connection with their use of such third party websites.

PRIVACY POLICY

QFR Capital takes precautions to maintain the privacy of nonpublic personal information concerning its current and prospective investors in its private investment vehicles. These precautions include the adoption of certain procedures designed to maintain and secure such investors' nonpublic personal information from inappropriate disclosure to third parties. Federal regulations require QFR Capital to inform its new investors of this privacy policy prior to any investment management agreement being signed as well as on an annual basis to all existing clients and investors.

In connection with providing investment management services, QFR Capital may collect nonpublic personal information about its investors from the following sources:

• Information QFR Capital receives from an investor in subscription documents or other related documents or forms;

• Information about an investor's transactions with QFR Capital, its affiliates, agents, or others; and

• Information QFR Capital may receive from a consumer reporting agency.

QFR Capital does not disclose any nonpublic personal information about its prospective, existing or former investors to anyone, except as permitted by applicable law and regulation.

QFR Capital restricts access to nonpublic personal information about its investors to those employees and agents of the QFR Capital who need to know that information in order to provide services to its investors. QFR Capital may disclose such information to its affiliates and to service providers and financial institutions that provide services to QFR Capital and its private investment vehicles. QFR Capital will require such third party service providers and financial institutions to protect the confidentiality of investors' nonpublic personal information and to use the information only for purposes for which it is disclosed to them. QFR Capital maintains physical, electronic and procedural safeguards that comply with federal standards to safeguard investors' nonpublic personal information and which QFR Capital believes are adequate to prevent unauthorized disclosure of such information.

If you have any questions concerning this privacy policy, please contact QFR Capital at info@QFRCapital.com.