Whitebox Advisors

Disclosures

Welcome to the website of Whitebox Advisors LLC (“WBA”) — also referred to hereinafter as the "Site." This Site provides you with general information about WBA. PLEASE READ THESE TERMS OF USE CAREFULLY. By accessing and using this Site, you acknowledge that you have read, understand, and agree to be bound without limitation or qualification by all of the terms and conditions herein and as may be subsequently amended or modified hereafter (the “Terms”). We reserve the right to amend these terms of use from time to time by posting the amended terms on this Site. Please continue to review the Terms whenever accessing or using this Site. Use of this Site after posting of any modification or amendment to the Terms will constitute acceptance of the Terms as modified or amended. If you do not agree to these Terms, do not use this Site.

Access to the Site: The Site is made available to all persons who agree to be bound by the Term. You agree not to modify, reproduce, distribute, rent, lease, loan, sell, or create derivative works based upon the materials on this Site, or post any content from this Site to newsgroups, mail lists or electronic bulletin boards, without the prior written consent of an authorized representative of WBA.

This Site may not be used for any unlawful purpose or in any manner inconsistent with these Terms. This Site may not be used in any manner that could compete with the business of WBA. You agree not to violate, or attempt to violate, the security of this Site, including by transmitting any material that contains viruses, Trojan horses, worms, time bombs, cancelbots 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 Site. You agree that if you or any of your employees or agents are given any digital certificates, user names, and or passwords which may be required to access or use any electronic services (collectively “Credentials”), (i) you shall take all necessary actions to preserve the confidentiality of such Credentials, (ii) you shall restrict access to the Credentials to those persons who are duly authorized to act on your behalf, (iii) you shall notify WBA immediately in the event any Credentials are lost, stolen or the confidentiality of any such Credentials have been compromised in any way or the authority of any person to act on your behalf has been revoked or limited, and (iv) you are responsible for and will be bound by all statements made and instructions, assents and consents communicated under any such Credentials, to the same extent that the same was under your duly signed writing. WBA reserves the right to suspend or deny access to the Site in its sole discretion.

Ownership of Content: The materials on this Site are confidential and constitute valuable intellectual property and trade secrets of WBA and shall not be used except as expressly permitted herein. All text, images, graphics, sounds and software code (the “Content”) on the Site are the property of WBA. Content may only be used for the personal education of visitors to the Site, and it may not be placed by you in the public domain. You may not reproduce, redistribute publish or otherwise use by electronic or any other means any of the Content without the prior written consent of WBA.

No Offer, Investment Advice, or Performance Guarantees: The information and material presented on the Site is provided for informational purposes only and is not and is not intended to be and should not be used or considered as an offer, recommendation, or a solicitation to sell, or an offer, recommendation, or solicitation to buy or subscribe to any financial instrument, investment management or advisory services. WBA offers a number of investment products designed for eligible investors in various countries and regions. Not all WBA products are available to all investors in all locations. Neither the information nor any opinion expressed on this Site constitutes an offer by WBA to buy or sell any securities or financial instruments, or to provide any investment advice or service. The services, securities and financial instruments described on this Site may not be available to or suitable for you, and not all strategies are appropriate at all times or for all persons. The value and income of any of the securities or financial instruments mentioned on this Site can fall as well as rise, and an investor may lose some or all of an investment. Foreign-currency denominated securities and financial instruments are subject to fluctuations in exchange rates that could have a positive, or adverse, effect on the value, price or income of such securities and financial instruments. Past performance is not necessarily a guide to future performance. The Site does not provide investment, tax or legal advice. You are encouraged to consult with appropriate advisers prior to making any investment decisions.

Responsible Behavior: In addition to the obligations set forth above, you agree not to access or use this Site to: a) reproduce, duplicate, copy, sell, trade, resell or exploit for any commercial purposes, any portion of this Site, use of this Site, or access to this Site; b) impersonate any person or entity or falsely state or otherwise misrepresent your affiliation with a person or entity; c) forge headers or otherwise manipulate identifiers in order to disguise the origin of any content transmitted on this Site; d) make available any content that you do not have a right to make available under any law or under contractual or fiduciary obligations; e) make available any content that infringes any patent, trademark, trade secret, copyright or other proprietary rights of any party; f) make available any content that is unlawful, harmful, threatening, tortious, defamatory, obscene, invasive of another's privacy, or otherwise objectionable; g) make available any unsolicited or unauthorized advertising, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes," or any other form of solicitation; h) make available any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment; i) interfere with or disrupt this Site or servers or networks connected to this Site, or disobey any requirements, procedures, policies or regulations of networks connected to this Site; j) intercept, collect or store personal data about current or former clients of WBA or any other visitors to this Site; or k) violate any applicable local, state, national or international laws or regulations.

Links to Third Party Web Sites: This Site may contain links to other websites owned and operated by third parties, including links to the websites of companies that provide related information, products and services. These links are solely for the convenience of visitors to this Site, and the inclusion of such links does not necessarily imply an affiliation, sponsorship or endorsement. WBA makes no representations whatsoever regarding such third-party websites. You should review the privacy policies of other websites carefully before providing any information to such sites. We are not responsible for the content or availability of third-party websites and shall not be responsible or liable for any information, opinions, advice, products, or services available on or through such third-party websites.

Links to This Web Site: By accessing this Site, you agree to notify WBA in advance of your intention to link to the public portion of this Site by emailing us at invrelations@whiteboxadvisors.com. You may not (i) hyperlink to the private portion of this Site or any of the pages on the private portion of this Site from another website, (ii) display this Site in frames, or (iii) display any of the content found on this Site via online links, without express written permission from an authorized representative of WBA.

Our Rights in This Site: WBA reserves all right, title and interest in and to this Site and all materials, information, and compilations of information available on or through this Site, as well as the domain name, design, layout, and "look and feel" of this Site, the trademarks and service marks and all other intellectual property and other proprietary rights embodied therein and appurtenant thereto. You agree that you will have no rights in or to any of the foregoing, express or implied, other than the rights expressly granted in these terms of use, or otherwise expressly granted to you in writing by an authorized representative of WBA. “Whitebox”, “Whitebox Advisors” or “WBA” and other related marks indicated on the Site may not be used or displayed without the prior written consent of WBA. All other trademarks, service marks and company names and logos appearing on the Site are the property of their respective owners.

Disclaimer of Representations and Warranties: Opinions and/or estimates on the Site or available through the Site reflect a judgement at the original date of publication and are subject to change without notice. Materials should only be considered current as of the date of publication, without regard to the date on which you may access information. THIS SITE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WBA MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, REGARDING YOUR ACCESS TO OR USE OF, OR THE INABILITY TO USE, THIS SITE, OR THE PRODUCTS, SERVICES OR INFORMATION DESCRIBED ON OR AVAILABLE THROUGH THIS SITE. WITHOUT LIMITING THE FOREGOING, WE EXPRESSLY DISCLAIM ANY AND ALL REPRESENTATIONS AND WARRANTIES OF ACCURACY, COMPLETENESS, TIMELINESS, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT OF THIRD-PARTY RIGHTS. THIS SITE INCLUDES FACTS, VIEWS AND OPINIONS OF INDIVIDUALS AND ORGANIZATIONS DEEMED OF INTEREST. NOTHING CONTAINED ON THIS SITE SHALL BE CONSTRUED AS AN ENDORSEMENT OF THESE VIEWS OR OPINIONS. Because certain jurisdictions do not allow the exclusion or limitation of liability for consequential or incidental damages in such jurisdictions, liability is limited only to the fullest extent permitted by applicable law. If you are dissatisfied with any portion of this Site, or with any Terms, your sole and exclusive remedy is to discontinue your use of the Site. Further, WBA does not represent or warrant that (i) the Site will meet your requirements; (ii) the use of the Site will be error free, uninterrupted, timely or secure, (iii) the results obtained from the Site will be accurate or reliable, (iv) the quality of any information, services or other material obtained from the use of this Site will meet your expectations, (v) the servers that make this Site available are free of viruses or other harmful components, or (vi) any errors on the Site will be corrected.

Limitations of Liability: TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL WBA OR OUR AFFILIATES, DIRECTORS, OFFICERS, AGENTS, EMPLOYEES OR LICENSORS BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE, OR SIMILAR DAMAGES (INCLUDING LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA) ARISING OUT OF OR RELATED TO THIS SITE OR YOUR USE OF THIS SITE, OR FOR ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE ON THE INFORMATION PROVIDED ON OR AVAILABLE THROUGH THIS SITE, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Disclosure for Users in Countries outside of the United States: WBA makes no representation or warranty that the Site is appropriate or available for use in countries outside of the United States. Visitors who choose to access the Site from outside the United States do so at their own initiative and are responsible for compliance with all local laws and regulations that may apply to such access.

EU Sustainable Finance Disclosure Regulation: As Whitebox Advisors LLC (the “AIFM”) manages certain alternative investment funds (the “Funds”) registered for marketing under the Alternative Investment Fund Managers Directive (2011/61/EU) (the “AIFMD”) in one or more member states of the European Economic Area (“EEA”), the AIFM is required by the Sustainable Finance Disclosure Regulation (Regulation 2019/2088) (the “SFDR”) to make certain disclosures on its website, including information about the AIFM’s policies on the integration of sustainability risks into its investment decision-making process; its approach to adverse sustainability impacts; and the consistency of its remuneration policies with the integration of sustainability risks. For these purposes, sustainability risk means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment.

No consideration of sustainability adverse impacts: The AIFM does not currently consider adverse impacts of investment decisions on sustainability factors as the Funds are not designed to be ESG focused investment products. The AIFM’s primary focus is therefore achieving attractive risk-adjusted returns for the Funds.

Policies on the integration of sustainability risks into the investment decision-making process: The AIFM considers a number of factors when evaluating investment opportunities. Where deemed relevant, the AIFM considers sustainability risks in its investment process which can have a meaningful impact, whether gain or loss, on investment results. Accordingly, the AIFM could make or decline to make certain investments, or avoid certain industries, based upon a determination of such sustainability risks. The AIFM does not negatively screen investments based on ESG considerations, unless specified in client documentation. The Funds can hold investments that pose sustainability risks.

Consistency of remuneration policies: Although the AIFM acknowledges that sustainability risks may be relevant to the investments held by the Funds, the AIFM does not currently take account of sustainability risks as a separate part of its investment decision making processes. As it is not currently possible for the AIFM to separately assess the likely impacts of sustainability risks on the returns of the Funds, this is not reflected in the overall level of variable remuneration awarded to staff.

A Global Alternative Asset Manager