DALAL STREET, LLC

The Adviser manages several Clients, each of which is a private pooled investment vehicle. The Adviser may in the future establish, sponsor and become affiliated with other pooled investment vehicles and companies that have investment programs that are similar or substantially similar to the investment program of its current Clients. As a result, the Adviser and its personnel may have conflicts of interest in allocating their time and resources between Clients, in allocating investments among Clients and other entities, and in effecting transactions between Clients and other entities, including ones in which the Adviser or its personnel may have a financial interest. As of the date hereof, the Adviser provides investment management services to The Pabrai Investment Fund II, L.P., Pabrai Investment Fund 3, Ltd., The Pabrai Investment Fund IV, L.P. (collectively “Pabrai Funds”), Dhandho Holdings Offshore Ltd., operating as a master-feeder structure, investing substantially all of its assets within Dhandho Holdings, L.P., and Dhandho Holdings Qualified Purchaser, L.P., a parallel fund to Dhandho Holdings L.P. (collectively “Dhandho Holdings”). The Adviser also manages two proprietary accounts and tailors its advisory services as described in the relevant Client’s private placement memorandum and/or as set forth in such Client’s organizational documents. Please refer to Item 8 for a more detailed description of the Adviser’s management strategies as well as the securities and other instruments purchased by the Adviser on behalf of the Clients.

The Pabrai Funds utilize proprietary long-value investment strategies, investing client assets in a diverse portfolio of securities. This includes equities and debt from both U.S. and non-U.S. national exchanges and established financial markets. The Adviser has the discretion to invest or trade in various types of equity and debt securities, such as common and preferred stock, convertible debt, bonds, notes, zero coupon bonds, fixed income securities, options, and investment company securities. In addition to these core investments, the Adviser may also allocate client capital to short-term instruments like commercial paper, bank certificates of deposit, and U.S. Treasury Bills. While the Adviser aims to allocate investment opportunities in the best interest of all Clients, opportunities may not be allocated to all Clients or may be limited for some. The Adviser evaluates investments for each Client based on numerous factors which may be relevant in determining whether a particular situation or strategy is appropriate.

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