Last Updated 09/10/2021

This document was prepared for the exclusive use and benefit of the addressee to whom it is directed and solely for purposes of facilitating a general discussion regarding 3&1 Fund LLC, and/or its subsidiaries (“3&1”) and certain of its products, services, or clients. This document is for discussion purposes only and is incomplete without reference to, and should be viewed solely in conjunction with, the accompanying oral briefing provided by 3&1 or the ancillary documents including but not limited to the Private Placement Memorandum (PPM), Surety Demand Bond, and Loan Agreement (FALA).  This document contains confidential information and neither this document nor any of its contents may be copied or disclosed, in whole or in part, or used for any other purpose without the prior written consent of 3&1. 

In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which has been provided to, or reviewed by, 3&1. While this document has been prepared in good faith, no representation, warranty, assurance or undertaking (express or implied) is or will be made, and no responsibility or liability is or will be accepted by 3&1 or by its officers, employees or agents in relation to the adequacy, accuracy, completeness or reasonableness of this document or any other information (whether written or oral) supplied or otherwise made available in connection with it. All and any such responsibility and liability is expressly disclaimed. The information contained in this document is subject to change and no responsibility or liability is assumed for updating this document or any additional information provided herewith, or for correcting any inaccuracies in this document or such information which may become apparent. 

Although we endeavour to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. 

This document does not constitute a commitment by 3&1 to arrange or place insurance, a bond, get rated, or underwrite any risk or provide any other services. 

Calculations may be derived from our proprietary models in use at that time. Models may be based on historical analysis of data and other methodologies, and 3&1 may have incorporated their subjective judgement to complement such data as is available. It should be noted that models may change over time and they should not be relied upon to capture future uncertainty or events. 

Some of the statements in these materials may contain or be based on forward looking statements, forecasts, estimates, projections, targets, or prognosis (“forward looking statements”), which reflect 3&1’s current view of future events, economic developments and financial performance. Such forward looking statements are typically indicated by the use of words which express an estimate, expectation, belief, target or forecast. These forward-looking statements contain no representation or warranty of whatever kind that such future events will occur or that they will occur as described herein, or that such results will be achieved, as the occurrence of these events and any results are subject to various risks and uncertainties. Actual results may differ substantially from those assumed in the forward-looking statements. 3&1 will not undertake to update or review the forward looking statements contained in these materials, whether as a result of new information or any future event or otherwise. Past performance is

no guarantee of future results.