SMArtX offers investors (“Investors”) the opportunity to achieve performance results similar to those of Portfolio Models managed by Model Managers on its Platform Specifically, an Investor can set up an account through us and direct the assets in their accounts to be invested in a substantially similar manner as one or more Models represented on the website. We make this possible by utilizing portfolio trading information received from the model managers of the selected Portfolio(s) and then purchasing and selling the same (or similar) securities on behalf of Investor Accounts in the same or similar manner and at the same or similar time as the model manager(s) do for their Portfolio(s). In cases where it is not possible for us to execute the selected model manager’s trades or strategy in an identical manner for an Investor, we will attempt to synthetically reproduce such trades so that the Investor’s account achieves substantially similar results as the selected Portfolio. Although our firm uses its best efforts to replicate the selected portfolio’s performance and trades, there may be times when different strategies will be beyond the control of our ability to trade at the exact prices.

This performance sheet depicts model returns, quantitative statistics, risk calculations and other information prepared by us based on the historical gross performance figures and information provided by the model managers. The performance results shown herein do not represent actual performance achieved by the represented portfolios, or any Investor and do not reflect actual trading history in any sponsored investment product or managed account. Hypothetical, simulated or “model” performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. In addition, the performance data provided by a model manager on which we base its model returns represents the views and biases of such model manager only, and have not been independently verified by us and may contain errors for which we may be unable to compensate for when calculating the model risks and returns depicted in this performance sheet. As a result, the performance reflected herein is estimated, may be based on incomplete information and is subject to change. Furthermore, simulated trading programs are generally designed with the benefit of hindsight. No representation is being made that any Investor account will or is likely to achieve profits or losses similar to those shown. Actual results for each Investor may vary, and there is no guarantee that we will be able to duplicate the returns shown herein for any investor.

All data presented are the simulated results of a hypothetical, separately managed account and assume that the account had been opened by an Investor on the same date as the inception date of the selected portfolio and that all trades in the account substantially replicated the trades of the selected model for the duration of the account. These results also reflect the Platform’s retroactive application and deduction of the highest management fee chargeable to Investors (based on assets in the account), including the compounding effect of such fee over time. We do not currently plan to charge clients any performance-based compensation, and these results accordingly do not reflect the deduction of any performance-based fees. These model results also do not reflect the deduction of any other fees and expenses such as ticket charges, commissions, or trading fees, due to the variable and unpredictable nature of such fees. Thus, actual performance in any particular account may be lower than that presented herein due to the deduction of trading fees and expenses that cannot be predicted for purposes of this model performance presentation. Our firm also retains the right to waive or reduce its fees with respect to any Investor account in its discretion.

These materials should only be considered current as of the date of publication without regard to the date on which an Investor may receive or access the information. We maintain the right to delete or modify information without prior notice to Investors.

Charts, tables and graphs contained in this document are not intended to be used to assist prospective or actual Investors in determining which securities to buy or sell or when to buy or sell securities. Nothing herein is intended to be a recommendation to buy or sell any particular securities or to invest in any particular strategy.

There is no guarantee that we will be successful in achieving the investment objectives of any particular Investor. Performance data and risks are historical and are not indicative of future returns, and past performance of any model manager or our platform representations and their respective principals and employees, and therefore is not a guarantee of future results. Investment in the selected model strategy shown herein entails various risks, including the risk of complete loss. Performance variances among Investors may occur due to various factors, including the timing and amount of investment and general market fluctuations. Investment returns may be volatile, especially over short time horizons.

Before investing in a model account, potential Investors are advised to read carefully all related documentation and to consult with their tax, legal and financial advisors. This performance sheet is being provided to potential Investors on a confidential basis solely to assist potential Investors in deciding whether to proceed with a further investigation of an investment in an account managed by us through our Platform. This performance sheet is confidential and may not be duplicated or distributed without prior written consent.

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The S&P 500 Index (the “S&P 500”) is referred to only because it represents an index typically used to gauge the general performance of the U.S. securities markets. The use of this index is not meant to be indicative of the asset composition or volatility of the portfolio of securities held by any managed account, which may or may not have included securities which comprise the S&P 500, and which may hold considerably fewer than the number of different securities that make up the S&P 500. As such, trading in an account managed by us should be considered riskier than an investment in the S&P 500.

All indices designed, calculated and published by S&P Dow Jones Indices, LLC, a subsidiary of The McGraw-Hill Companies, Inc., and/or its affiliates, are the property of S&P Dow Jones Indices, LLC, or one or more of its affiliates. Standard & Poor’s, S&P are registered trademarks of Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The trademarks have been licensed to S&P Dow Jones Indices LLC. SMArt X makes no representations about the accuracy or appropriateness of the data reported by S&P Dow Jones Indices, LLC, and S&P Dow Jones Indices, LLC does not endorse the contents of this presentation.