SLIDE 13 Confidentiality & Legal Notices
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This presentation (the “Presentation”) of First Reserve Management, L.P. (together with its affiliates, “First Reserve”) is being provided on a confidential basis for informational purposes only and may not be relied on in any manner as legal, tax, investment, accounting or other advice and does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any First Reserve-sponsored fund. Any such offer or solicitation shall be made only pursuant to the final Confidential Private Placement Memorandum of any fund including any supplements thereto (the “PPM”), which will describe certain risks related to an investment in such fund, and such fund’s subscription documents. The information contained in this Presentation will be superseded by, and is qualified in its entirety by reference to, the relevant PPM, which should be read carefully prior to an investment in such fund. Any representation or information not contained in the PPM or the definitive subscription documents may not be relied upon. The information contained herein must be kept strictly confidential and may not be reproduced (in whole or in part) or redistributed in any format without the express written approval of First Reserve. The statements in this Presentation are made as of April 2012, unless otherwise indicated, and shall not be deemed an indication that there has been no change in the business affairs of any of the investments described herein since such date. Certain information (including economic and market information) contained herein has been obtained from published or unpublished sources prepared by other parties. Neither First Reserve nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein should be relied upon as a promise or representation as to past or future performance of the First Reserve funds, any future First Reserve funds or any other entity. An investment in a First Reserve fund entails a high degree of risk and no assurance can be given that such fund’s investment
- bjective will be achieved or that investors will receive a return of their capital. In considering the performance information contained herein, recipients should bear in mind that past performance is
not necessarily indicative of future results, and there can be no assurance that any First Reserve sponsored investment vehicle will achieve comparable results or be able to implement its investment strategy or achieve its investment objectives. First Reserve has referenced certain statistical information from third parties. Neither First Reserve or its affiliates have verified any finding in the information attributed to a third-party herein, nor do any of the foregoing assume any responsibility for the accuracy or completeness of such data and information. Recipients of this presentation should make their own investigations and evaluations of any third-party information referenced herein. With respect to the historical trends set forth in this presentation, there can be no assurance that such trends will continue. Statements contained herein (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts are based on current expectations, estimates, projections,
- pinions and/or beliefs of First Reserve. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained in this
Presentation constitutes forward-looking statements, which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “seek,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” “plan,” “target,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the First Reserve funds may differ materially from those reflected or contemplated in such forward looking statements. The information regarding First Reserve portfolio companies and/or investment vehicles contained herein is summary in nature and contains certain projections and estimates regarding the future performance and events of First Reserve portfolio companies and/or investment vehicles. Such projections and estimates are not a guarantee of future performance and there can be no assurance that First Reserve’s current or future portfolio companies and/or investment vehicles will achieve comparable results or the investment objectives described herein. While First Reserve’s projections contained herein are based on assumptions that it believes are reasonable in light of the information presently available, the actual results will depend on, among other factors, future market conditions and the future supply and demand characteristics of the assets, all of which may differ from the assumptions on which the projections contained herein are based. Such assumptions (and the resulting analyses) may require modification as additional information becomes available and as economic and market developments warrant. Any such modification could be either favorable or adverse. The projections have been prepared and are set out for illustrative purposes only, and do not constitute a forecast. They have been prepared based on First Reserve’s current understanding of the intended future operations of the buyout funds’ portfolio companies and portfolio companies in which the buyout funds may invest, First Reserve’s current view of certain future events and financial performance of the funds’ portfolio companies and various estimates and assumptions made by First Reserve, including estimates and assumptions about events that have not occurred, any of which may prove to be incorrect. Therefore, the projections are subject to uncertainties, changes (including changes in economic, operational, regulatory, political or other circumstances or the management of portfolio companies) and other risks, including without limitation the risks set forth in the funds’ PPMs. Industry experts may disagree with the projections, the estimates and assumptions used in preparing the projections or First Reserve’s view of the potential investments described
- herein. No assurance, representation or warranty is made by any person that any of the projections will be achieved and no recipient should rely on the projections. None of First Reserve, its affiliates or any of
their respective directors, officers, employees, partners, shareholders, advisers and agents makes any assurance, representation or warranty as to the accuracy of the projections. Nothing contained in this Presentation may be relied upon as a guarantee, promise or forecast or a representation as to the future. Additional information regarding the investments discussed herein is available upon request. First Reserve reserves the right to request the return or destruction of this Presentation at any time and you agree to return or destroy this Presentation upon such request. This Presentation is for the exclusive use of the persons to whom it is addressed and their advisers. If the recipient received or obtained these materials from any party other than First Reserve, the delivery is unauthorized and the recipient should return this Presentation to First Reserve immediately. This Presentation is issued by First Reserve Management, L.P. and may be distributed by First Reserve International Limited and First Reserve Asia Limited outside of the United States. First Reserve International Limited is authorized and regulated by the Financial Services Authority in the United Kingdom. First Reserve Asia Limited is authorized and regulated by the Securities and Futures Commission in Hong Kong.
