Information contained herein relating to market trends has been determined on the basis of external sources referenced herein. Although the Pollen Street Group believes that such determinations are reasonable, they are inherently subjective in nature and further, neither the Pollen Street Group nor any of its directors, officers, employees, partners, members, representatives, advisers or agents assumes any responsibility for the accuracy or completeness of such information nor have they independently verified it. Other market participants may make different determinations based on the same underlying data. The information relating to market trends presented herein is for illustrative purposes only and is not necessarily indicative of future results. The Pollen Street Group’s strategies depend on a variety of factors including the prevailing market environments and investme nt availability. Actual circumstances may differ significantly from those assumed by the Pollen Street Group in preparing these materials and there can be no assurance that such results will be achieved. The Presentation contains information about the performance of investments previously made by Funds advised or managed by the Pollen Street Group. This information has not been audited or verified by an independent party. There can be no assurance that unrealised investments will be realised at valuations shown or that pipeline opportunities will deliver anticipated yields. Past performance is not a reliable indicator of future performance and a Fund may not achieve the same level of returns as those achieved by previous investments. Internal rates of return (“IRRs”) presented on a “gross” basis do not reflect any management fees, carried inter est, taxes or allocable fund expenses borne by investors, which in the aggregate may be substantial and is calculated using net cashflows on a quarterly basis. For money multiples, the cost is calculated based on investment cost (including associated fees) net of syndications. In considering any performance data contained herein, you should bear in mind that past or targeted performance is not a guarantee, projection or prediction, and is not indicative of future results. There can be no assurance that a Fund will achieve comparable results, that targeted returns will be met or that a Fund will be able to implement its investment strategy and investment approach or achieve its investment objectives. You should also bear in mind that past or targeted portfolio characteristics are not indicative of future portfolio characteristics and there can be no assurance that a Fund will have comparable portfolio characteristics or that target portfolio characteristics will be achieved. Please refer to ‘Notes on Investment Performance’ on slide 20 for further information on the calculation methodo logy of such metrics. Actual gross and net returns for a Fund may vary significantly from the targeted returns set forth herein. A Fund's target returns are expected to be realized from the disposition of investments, operating cash flows, distributions and proceeds from borrowing, using leverage where the Pollen Street Group believes it appropriate. The target returns stated herein are based on the Pollen Street Group 's belief about what returns may be achievable on the types of investments that the Pollen Street Group intends to pursue in light of the Pollen Street Group 's experience with similar transactions. Further, the target returns stated herein are based on an assumption that economic, market and other conditions will not deteriorate and, in some cases, will improve. The target returns are also based on models, estimates and assumptions about performance believed to be reasonable under the circumstances, Some figures included in the Presentation are based on financial model results. Financial models are based on a range of assumptions and on information available at the time of preparation. Financial model results do not represent actual outcomes and they may not reflect the impact that material economic and market factors might have on the Pollen Street Group’s investment -related decision-making. Actual results may or may not correspond, and may differ materially from the results of financial models. No reliance (including for investment decision purposes) should be placed on the results of financial models. Any assumptions, assessments, beliefs, intended targets, statements or the like regarding future events, future market conditions or expectations, investment opportunities, market conditions or commentary or which are forward- looking contained in this Presentation (collectively, “Statements”) constitute onl y subjective views, outlooks, estimations or intentions, are based upon the Pollen Street Group’s expectations, intentions or beliefs, should not be relied on, are subject to change due to a variety of factors, including fluctuating market conditions and economic factors, and involve inherent risks and uncertainties, both general and specific, many of which cannot be predicted or quantified and are beyond the Pollen Street Group’s control. Statements can be identified by the use of forward - looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “target”, “project”, “estimate”, “intend”, “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. By their na ture, forward-looking statements involve a number of risks, uncertainties and assumptions and actual results (including actual composition and investment characteristics of a Fund’s por tfolio) could differ materially from those set forth in, contemplated by or underlying these Statements. Considering the risks and uncertainties, there can be no assurance, and no representation or warranty is given as to the reasonableness of these Statements or that these Statements are now or will prove to be accurate or complete in any way. Reliance should not be placed on forward-looking statements, which speak only as of [•] or such other date as specifically disclosed herein and which are inherently non -factual. The information herein may be subject to updating, revision, verification and amendment and such information may change materially. There is no obligation to update, supplement or correct any of the information presented herein and no such updates are planned. The delivery of this Presentation will under no circumstances create any implication that the information herein has been updated, supplemented or corrected as of any time subsequent to [•] or, as the case may be, the date as of which such information is stated. In add ition, unless the context otherwise requires, the words “include”, “includes”, “including” and other words of similar import are meant to be illustrative rather than restrictive and sh all be deemed to be followed by the phrase “without limitation”.
1. Registration does not imply a specific degree of skill or training.
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