Disclosure Statement

Performance results are historical, are for informational purposes only, and are not indicative of future results. Any strategy returns are presented gross of management fees and reflect the reinvestment of all interest, dividends and all realized and unrealized gains and losses. Returns are presented net of nonreclaimable withholding taxes. While compensation arrangements may be negotiated and accordingly may vary, our standard investment advisory fees are 1.0% on assets up to $10 million, and may be tiered thereafter. The deduction of advisory fees and other expenses and the compounding effect thereof over time will reduce the total return on any account. Example: an account of $10 million which experienced a 10% compounded annualized total return over a period of ten years would result in an ending dollar value of $25,937,000, without the deduction of advisory or other fees. If an annual advisory fee of 1% were deducted from the account for the same ten-year period, the annualized return would be 9%, with an ending dollar value of $23,673,640.

It should not be assumed that any of the securities holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein. The securities discussed do not represent a portfolio's entire holding and in the aggregate may represent only a small percentage of the portfolio holdings.

The information herein has been obtained from sources believed to be reliable, but AG Asset Management does not warrant its completeness or accuracy. Prices, opinions and estimates reflect AG Asset Management's judgment on the date hereof and are subject to change at any time without notice. Any statements nonfactual in nature constitute current opinions, which are subject to change. Projections are not guaranteed and may vary significantly. Further information on the firm and its advisory fees may be obtained from the firm's Form ADV, which is available without charge upon request. Complete descriptions of all AG Asset Management products and benchmarks are available upon request.