Disclaimer

Insurance Advisory Partners (“IAP”) is a trade name used by Insurance Advisory Partners LLC, a licensed broker dealer authorized and regulated by FINRA and a member of SIPC (“IAP US”) and a separate but affiliated entity IAP (UK) Sub Limited (FRN: 986836), an investment business authorized and regulated by the UK Financial Conduct Authority (“IAP UK”). Each of IAP US and IAP UK are direct subsidiaries of IAP Global LLC (“IAP Global”).

This presentation has been prepared by IAP solely for informational purposes and is based on publicly available information. IAP has not assumed any responsibility for independently verifying the information herein, IAP makes no representation or warranty as to the accuracy, completeness or reasonableness of the information herein and IAP disclaims any liability with respect to the information herein. In this presentation, IAP has used certain projections, forecasts or other forward-looking statements. This presentation speaks only as of its date and IAP assumes no obligation to update it or to advise any person that its conclusions or advice has changed.

This presentation is solely for information purposes and may not be relied on by the Company without the prior written consent of IAP. This presentation is not exhaustive and does not serve as legal, accounting or tax advice. Nothing herein shall be taken as constituting the giving of advice and this presentation is not intended to provide, and must not be taken as, the sole basis for any decision on any transaction and is not a recommendation with respect to any transaction. The Company should make its own independent assessment and such investigations as it deems necessary based on all other information, advice and the Company’s own judgement. This presentation is not an offer to sell or a solicitation of an indication of interest to purchase any security, option, commodity, future, loan or currency. It is not a commitment to underwrite any security, to loan any funds or to make any investment.

This document is being directed at person who are professionals and is not intended for retail customer use.

This document is not a research report and does not constitute and should not be considered as any form of financial opinion, investment research, or investment recommendation for the purposes of the Financial Conduct Authority rules or a research report under U.S. law.

IAP provides mergers and acquisitions, restructuring and other advisory services to clients. Its personnel may make statements or provide advice that is contrary to information contained in this material. Our proprietary interests may conflict with your interests. IAP may from time to time have positions in or effect transactions in securities described in this presentation. IAP may have advised, may seek to advise and may in the future advise or invest in companies mentioned in this presentation.

The information in this presentation is confidential and may not be disclosed to any other person or relied upon without the prior written consent of IAP.