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To the extent possible, in no event shall the author(s), Magnetar or any of its officers, employees or agents be liable to you on any legal theory (including, without limitation, negligence) or otherwise for any claims, losses, costs or damages of any kind, including direct, special, indirect, incidental, consequential, punitive, exemplary, or other losses, costs, expenses, or damages arising out of the use of the article, including the information contained herein, even if Magnetar has been advised of the possibility of such losses, costs, expenses, or damages. Where a limitation of liability is not allowed in full or in part, this limitation may not apply to you.

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This article is prepared and circulated for informational and educational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities or other instruments. The information contained herein is not intended to provide, and should not be relied upon for investment, accounting, legal or tax advice. This document does not purport to advise you personally concerning the nature, potential, value or suitability of any particular sector, asset allocation, security, portfolio of securities, individual transaction, investment strategy or other matter. No consideration has been given to the specific investment needs or risk-tolerances of any recipient. The recipient is reminded that an investment in any security is subject to a number of risks including the risk of a total loss of capital, and that discussion herein does not contain a list or description of relevant risk factors. Diversification does not eliminate the risk of experiencing investment loss. As always, past performance is no guarantee of future results. The recipient hereof should make an independent investigation of the information described herein, including consulting its own tax, legal, accounting and other advisors about the matters discussed herein. This report does not constitute any form of invitation or inducement by Magnetar to engage in investment activity.

This report may include certain statements and projections regarding the anticipated future performance of various strategies, securities, sectors, and geographic regions. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Magnetar’s control. Factors which could cause actual results to differ materially from those anticipated include, but are not limited to: competitive and general business, economic, market and political conditions from those expected; changes in the legal, regulatory and legislative environments in the markets in which Magnetar operates; and the ability of management to effectively implement certain strategies.

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