Disclaimer

U.S. Securities Laws Provisions

Securities issued by funds advised by Strategic Value Partners, LLC ("SVP") have not been registered under the Securities Act of 1933, and have not been registered with, or approved by, the U.S. Securities and Exchange Commission, any state securities administrator or any other regulatory authority. Such funds have not been and will not be registered as investment companies under the Investment Company Act of 1940. The securities issued by such funds therefore cannot be sold, transferred or pledged (although, in certain limited circumstances, they may be redeemed as described in each fund's offering documents) in the absence of such registration or the availability of an exemption therefrom. There is no public or other market for the securities, and no such market is expected to develop.

Information about investment products managed by us or our affiliates may only be made available to those who qualify as an Accredited Investor (as defined in Rule 501(a) under the Securities Act of 1933, as amended (the "Securities Act") and as a Qualified Purchaser (as defined in Section 2(a)(51) of the Investment Company Act of 1940, as amended (the "Investment Company Act")).

The provision of the information in this website does not constitute an offer of securities to any person in the United States or to any U.S. Person as such term is defined under the Securities Act. Funds referred to herein are neither registered under the Securities Act, nor are they registered under the Investment Company Act. Consequently, they cannot be offered for sale or be sold in the United States, its territories, possessions or protectorates under its jurisdiction, nor to nationals, citizens or residents in any of those areas.

Information Disclaimers

Nothing in this website should be construed as investment, tax, legal or other advice nor is it to be relied upon in making an investment decision. Those accessing the SVP website should consult their financial and legal advisers regarding the suitability of any of the products referred to on this website. The value of investments and the income from them may go down as well as up and an investor may receive back less than the original investment; past performance is not necessarily an indicator of future performance.

Nothing on this website should be regarded as an offer or solicitation to buy or sell any investment(s) or an offer or solicitation to provide investment services or as a comment on the merits of engaging in any investment transaction or activity or an inducement to do so. Statements made on this website are subject to change and correction without notice and no responsibility is accepted for the contents of this website by SVP.

SVP does not represent that (i) any of the materials at this website; (ii) any investments or investment services that may be referred to on this website; or (iii) anything else on this website, are appropriate for use or permitted by local laws in all jurisdictions or by all investors. Those who access this website do so on their own initiative, and are responsible for compliance with applicable local laws or regulations; legal advice should be sought in cases of doubt. None of the materials or investment services at or referred to at this website are available to persons resident in any jurisdiction where this would be contrary to local law or regulation or require authorization or registration of SVP or any other person.

While SVP uses reasonable efforts to obtain information from reliable sources, SVP makes no representations or warranties as to the accuracy, reliability or completeness of any information or document at this website obtained outside of SVP. Opinions and any other contents of this website are subject to change without notice.

SVP is not utilizing this website to provide investment or other advice, and no information or material at this website is to be relied upon for the purpose of making or communicating investment or other decisions.

SVP does not advise on the tax consequences of any investment.

Risk Factors

Investment in any of our strategies involves significant risks which are discussed in the definitive offering documents relating to each of our investment products. An investment in these products may only be made by investors who meet certain investment criteria and have reviewed those definitive offering documents. Performance of an investment in any of our investment products is not guaranteed and an investor may lose its entire investment. The investor does not retain trading authority with respect to funds invested with SVP. An investment in our products is illiquid and is subject to strict prohibitions regarding the transfer of such investment. In certain instances, SVP may be subject to conflicts of interests. Fees and expenses relating to our investment products may offset any profitable performance.

Past Performance Disclosure

Past performance is not indicative of future results; no representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

Copyright/Trademark/Usage

All trademarks, copyrights, and other intellectual property used in this web site ("Site") are subject to the following terms and conditions ("Terms"). By continuing to use or access this Site, you (the user) signify and confirm your acceptance of and agreement with these Terms without modification. These Terms may be modified from time to time and it is your responsibility to review and check the Terms for any changes. If you have any questions about these Terms, please contact us before using the Site.

All trademarks, service marks, logos, trade dress, and names ("Trademarks") are the exclusive property of SVP, SVP affiliates, and/or other respective owners. Nothing contained in this Site should be construed as granting any license or right to any use of the Trademarks without the express written permission of SVP or the respective owners. All rights in the Trademarks are expressly reserved.

All works of authorship contained in this Site, including, reports, articles, text, graphics, designs, and other materials ("Content"), are owned by SVP, SVP affiliates and/or other respective owners, and are protected by copyright and other applicable laws worldwide. You are permitted to review, store, and/or print one single, unaltered copy of the Content for your personal, non-commercial use. Otherwise, all other use of the Content, including any distribution, circulation, transmission, reproduction, publication, display, or modification of the Content, in whole or in part, in any medium, is strictly prohibited. All rights in the Content are expressly reserved.

This Site may contain links to web sites maintained by third parties. Such linked sites are not under SVP's control, and SVP makes no warranties or representations of any kind with respect to such third party sites and we are not responsible for the content available on any other web sites or their terms of use. We provide such third party links solely for your convenience and do not constitute any endorsement by SVP.

Your use of the Site is at your sole risk and SVP disclaims any and all warranties and representations with respect to the Site, including the accuracy of any Content and non-infringement. You will be solely responsible for any damage to your computer system (or any component connected to your computer system) or loss of data that results from the download (intentional or otherwise) of any Content. You agree to indemnify, defend and hold harmless, SVP, its affiliates, and their respective officers, directors, employees, agents, licensors, representatives, and third party providers to the Site from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, resulting from any violation of these Terms by you or your use of this Site.

Liability/Warranty/Indemnification

Due to the global nature of the Internet, this website may be accessed by users in countries other than the United States. We make no warranties that materials on this website are appropriate or available for use in such locations. If it is illegal or prohibited in your country of origin to access or use this website, then you should not do so. Those who choose to access this website outside the United States do so on their own initiative and are responsible for compliance with all local laws and regulations.

We are not responsible for any damages or injury, including, but not limited to, special or consequential damages, that result from your use of (or inability to use) this website, including any damages or injury caused by any failure of performance, error, omission, interruption, defect, delay in operation, computer virus, line failure, or other computer malfunction. You acknowledge that we provide the contents of this website on an ""as is"" basis with no warranties of any kind. Your use of this website and use or reliance upon any of the materials on it is solely at your own risk.

The materials on this website are provided "as is" without warranty of any kind, either express or implied, to the fullest extent permissible pursuant to applicable law, including, but not limited to, the implied warranties of merchantability or fitness for a particular purpose or non-infringement. SVP further assumes no responsibility for, and makes no warranties that, functions contained at this website will be uninterrupted or error-free, that defects will be corrected, or that the website or the server that makes it available will be free of viruses or other harmful components. SVP shall not be liable for any damages to, viruses that may infect, or services, repairs or corrections that must be performed on your computer on account of your accessing this website.

Under no circumstances, including, but not limited to, negligence, shall SVP be liable for any special or consequential damages that result from the access or use of, or the inability to access or use, the materials on this website, even if SVP has been advised of the possibility of such damages.

Certain of the information contained in these pages represents or is based upon forward-looking statements or information. Forward looking statements are inherently uncertain, and changing factors, such as those affecting the markets generally, or those affecting particular industries or issuers, may cause events or results to differ from those discussed. Therefore, undue reliance should not be placed on such statements or the conclusions drawn there from, which in no event shall be construed as a guarantee of future performance, results or courses of action. We accept no liability in respect of any losses or damages arising out of errors or omissions contained in pages.

By accessing this website, you agree to indemnify, defend, and hold harmless SVP and its affiliates, and each of their respective directors, officers, employees and agents, as well as SVP's licensors and other third parties with which SVP contracts, from and against any and all losses, liabilities, obligations, damages, claims, demands, actions, costs and/or expenses of any kind (including legal fees, expert fees, or other disbursements) incurred by or against such persons or entities which may arise, directly or indirectly, from your access to, use of, or browsing of this website or through your downloading of any materials, data, text, images, video or audio from this website, including, but not limited to, anything caused by any viruses, bugs, human action or inaction or any computer system, phone line, hardware, software, or program malfunctions, or any other errors, failures or delays in computer transmissions or network connections, your violation of these Terms and Conditions and/or your violation of any rights of any third party.

Certain names, logos, designs, titles, words or phrases on this website may constitute trademarks, servicemarks or tradenames of entities that may be registered in certain jurisdictions. All trademarks referred to on this website are the properties of their respective owners.

Governing Law

By visiting this website, you agree that the laws of the State of New York, without regard to principles of conflict of laws, will govern these Terms and Conditions and any dispute of any sort that may arise between you and SVP. You hereby consent to the jurisdiction of federal and state courts located in New York for the purpose of resolving any dispute relating to your visit to this website. SVP may seek injunctive or other appropriate relief in any state or federal court in the State of New York, and you consent to exclusive jurisdiction and venue in such courts. If any part of these Terms and Conditions is determined to be invalid or unenforceable, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision, and the remainder of the Terms and Conditions shall continue in effect.

Linking/Cookies

We do not permit others to link to or frame this website or any portion thereof. Please note that SVP's Privacy Policy as well as this Disclaimer and User Agreement applies only to this website and not to other websites that may be accessible from this website via hyperlink. We are responsible only for the content of our own website. We encourage you to review the privacy policies and user agreements of all other websites that you visit.

SVP is not responsible for the content of any website linked or linking to this website. Your linking to any off-website pages or other websites is at your own risk.

By accessing this website, you agree not to link to, post on, or transmit to this website, any obscene, profane, defamatory, libelous, threatening, unlawful, or other material which could constitute or encourage unlawful conduct that may be considered a criminal offense, give rise to civil liability, or otherwise violate any law or regulation. Notwithstanding the fact that SVP, or other parties involved in creating, producing, or delivering this website, may monitor or review any transmissions to this website, SVP and all parties involved in creating, producing, or delivering this website, assume no responsibility or liability which may arise from the content thereof, including but not limited to claims for defamation, libel, slander, obscenity, pornography, profanity, or misrepresentation. By entering this website you acknowledge and agree that SVP has not reviewed all the websites linked to this website and is not responsible for the content of any website linked from or linking to this website. SVP is responsible only for the content of our own website. We encourage you to review the privacy policies and user agreements of all other websites that you visit. Your linking to any other off-website pages or other websites is at your own risk.

Information for Users in the United Kingdom

Please note the following legal and regulatory restrictions relating to the information contained in this web site.

All references to Strategic Value Partners on this website include references to Strategic Value Partners (UK) LLP and other SVP entities, as the context requires.

The Funds and accounts managed by Strategic Value Partners are not available for investment through this website. By reviewing the website you are acknowledging that you are not a prospective investor in any Fund or account managed by Strategic Value Partners. This website is solely for persons seeking to enter into transactions with Strategic Value Partners for which Strategic Value Partners can act as a deal or credit partner.

The user understands the purpose of this website and that use of this website may prevent the user, even if otherwise eligible, from investing with Strategic Value Partners. The user is interested in Strategic Value Partners solely as a source of capital and expertise in effecting a transaction with the user.

Strategic Value Partners uses reasonable efforts to ensure that the information on this web site is accurate and up-to-date and such information may be changed and updated by Strategic Value Partners at any time without notice. No representations or warranties are being given by Strategic Value Partners, or any of its members, employees or representatives as to the reliability, accuracy and completeness of such information.

No information contained on this web site constitutes investment advice and you should not rely upon any such information in connection with making an investment decision. Before making any investment decision, you should consult with your legal, accounting, business, investment, tax and other advisers.

This web site should not be regarded as constituting a distribution of, or an offer or solicitation to buy or sell any, securities or any other investment. In particular, the information on this web site is not for distribution, and does not constitute an offer to sell or the solicitation of any offer to buy any securities, in the United States of America to or, for the benefit of United States persons being resident in the United States of America or any state, territory or posession thereof.

Strategic Value Partners does not accept any liability for any damage or loss, including loss of profit, whether direct, indirect or consequential, in respect of the use of this web site or its content. However, Strategic Value Partners does not exclude or restrict any liability that it may have by virtue of the rules of the Financial Services Authority and any other applicable laws or regulations in England and Wales.

Please contact Joe Sinyor at 5 Savile Row, London W1S 3PD (enquiries@svpglobal.co.uk) for all issues relating to the content of this web site.

Other/Miscellaneous

Aggregate Data
We generally record certain usage information, such as the number and frequency of visitors to this website. This information may include the websites that you access immediately before and after your visit to our website, the Internet browser you are using, and your IP address. If we use such data at all, it will be on an aggregate basis, and we will not disclose to third parties any information that could be used to identify you personally. We do not employ cookies.

Personally Identifiable Information
If you voluntarily submit information to our website, for example, in a request for general information or through the submission of a business proposal, we may record and use any personally identifiable information, such as your name, phone number and e-mail address, for reasonable business purposes including, but not limited to, fulfilling your request. We will not use your personally identifiable information for any other purpose without your permission.

We may use internal service providers to operate our website and employ other persons to perform work on our behalf, such as sending postal mail and e-mail. These persons may have access to the personally identifiable information you submit through the website, but only for the purpose of performing their duties. These persons may not use your personally identifiable information for any other purpose.

We will not provide any personally identifiable information to any other persons, except if we are required to make disclosures to the government or private parties in connection with a lawsuit, subpoena, investigation or similar proceeding. We can (and by accessing this website you authorize us to) disclose any such information in those circumstances when SVP is obligated to do so.

Submissions
As our website indicates, we welcome your questions about us and our services. Please be advised that any comments, suggestions, ideas or other information that you send to us through our website will not be treated as confidential, and that we will own and have the right to use them as we choose, without payment to you.

Contact Us
Thank you for visiting our website. Please contact us at enquiries@svpglobal.co.uk if you have any questions about our website or our Privacy Policy or this Disclaimer and User Agreement.

Severability If any of these Terms and Conditions is deemed invalid, void, or unenforceable, such term or condition shall be deemed severable and shall not affect the validity or enforceability of the remaining Terms and Conditions.