Disclaimer

DISCLAIMER

VALIDUS – VRG MOMENTUM FUND

PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS

Please read the Offering Memorandum of the Validus – VRG Momentum Fund (the “Fund”) before investing. The Fund is not guaranteed, its value changes frequently and past performance may not be repeated. Where the Net Asset Value (“NAV”) price or performance of a particular class of the Fund is displayed, other classes are available and fees, NAV Price and performance may differ in those other classes.

Indicated rates of return are the historical annual compounded total returns including changes in net asset value and assume reinvestment of all distributions and are net of all management and administrative fees, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns.

This website’s content is intended exclusively for accredited investors (as defined in National Instrument 45-106 – Prospectus Exemptions) and this website does not purport to be exhaustive or to contain all the information that a prospective investor may desire in investigating any investment opportunity. Prospective investors should review the Fund’s Offering Memorandum and rely on their own independent investigation of the Fund. For accredited investor requirements please consult a financial advisor or the Fund’s offering documents.

References to indices, benchmarks, or other measures of relative market performance over a specified period of time are shown for illustrative or informational purposes only. Reference to an index does not imply that a strategy or Fund will achieve returns, volatility, or other results similar to the index. The composition of an index does NOT reflect how the Fund is proposed to be constructed in relation to expected or achieved returns, investment holdings, portfolio guidelines, restrictions, sectors, correlations, concentrations, risk management, volatility, or tracking error targets, all of which are subject to change over time. Benchmarks are unmanaged, and benchmark performance does not include the impact of fees, commissions, and transaction costs and expenses that would be payable by investors in investment products that seek to track a benchmark. Such costs would lower performance. It is not possible to invest directly in a benchmark.

Validus NA Inc. is the trustee, investment fund manager and portfolio adviser of the Fund. Validus NA Inc. is registered as an Investment Fund Manager, Portfolio Manager and Exempt Market Dealer in Ontario and Quebec. Validus is also registered as a Commodity Trading Manager in Ontario and Derivatives Portfolio Manager in Quebec. Additionally, Validus is also registered with the Commodity Futures Trading Commission as a Commodity Trading Advisor. This registration is administered through the National Futures Association (“NFA”). Certain of Validus employees are registered with the NFA as Principals and/or Associated Persons of Validus if necessary or appropriate to perform their responsibilities.

This website is intended for Canadian residents only and does not constitute an offer to sell or a solicitation of interest to purchase any securities or investment advisory services in any jurisdiction in which such offer or solicitation is not authorized.

This website contains confidential and proprietary information. The contents may not be reproduced or disseminated without the express written permission of Validus NA Inc.