TWO CREEKS CAPITAL MANAGEMENT, LP

Two Creeks Capital Management, LP and Two Creeks Advisors, LLC are advisory firms. They offer advisory services and investment strategies, and may make any investment they consider appropriate, subject to client objectives and guidelines. The investment strategies they pursue are speculative and entail substantial risks, and clients should be prepared to bear a substantial loss of capital. Neither the firms nor their management persons are registered as broker-dealers, futures commission merchants, commodity pool operators, or commodity trading advisors. There are no legal or disciplinary events that are material to a client's or prospective client's evaluation of their advisory business or the integrity of their management.

The Funds primarily invest their capital globally in publicly-traded equities and equity-related securities. However, they continually seek the best risk-adjusted opportunities and may occasionally invest in fixed income products, derivatives, commodities, or currencies, as well as any other financial instruments deemed appropriate, subject to each Fund's governing documents and offering memoranda. The identification of investment opportunities in undervalued securities is a key strategy. These investment strategies are speculative and entail substantial risks, and there is no assurance that the investment objectives of any client will be achieved. Clients should be prepared to bear a substantial loss of capital. The implementation of investment strategies is a difficult task, and there are no assurances that such opportunities will be successfully recognized or acquired.

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