The information contained in this e-mail is intended for the exclusive use of the addressee(s) and may contain privileged information. The information contained herein is highly confidential (other than as necessary to obtain tax, legal or accounting advice) and may be subject to completion or amendment through the delivery of additional documentation. If you are not the intended recipient, please contact the sender and delete all copies immediately. This e-mail, including any attachments, is solely for informational purposes and its factual content is not guaranteed by us to be an accurate and complete statement of such data and should not be relied on as such. Opinions in this communication constitute the current judgment of the author as of the date and time of this e-mail. The content of this e-mail does not necessarily reflect the opinions of VelocityShares LLC including its affiliates and subsidiaries (“VelocityShares”). The content is subject to change without notice. VelocityShares is not under any obligation to update or keep current any information contained in this e-mail. This e-mail does not constitute a personal recommendation and does not take into account the specific investment objectives, financial situation or particular needs of the recipient. VelocityShares is not an advisor as to legal, taxation, accounting, regulatory or financial matters in any jurisdiction, and is not providing any advice as to any such matter to the recipient. The recipient should discuss such matters with the recipient’s advisors or counsel and make an independent evaluation and judgment with respect to them. The information contained in this e-mail should not be construed as an offer, or a solicitation of an offer, to buy or sell any securities or other financial investments. The information presented should not and cannot be viewed as an indicator of future performance. Any review, reliance or distribution by others or forwarding without the express permission of the sender is strictly prohibited. To the extent permitted by law, VelocityShares does not accept any liability arising from the use or retransmission of the information in this e-mail.