DISCLAIMER

This video is intended for investors, professional advisers and asset consultants only. It is prepared by Riparian Capital Partners Pty Limited ACN 630 179 752 (‘Riparian’) as a corporate authorised representative (CAR 1273948) of Pinnacle Investment Management Limited ABN 66 109 659 109 AFSL 322140 (‘Pinnacle’).

Interests in the Riparian Water Fund ABN 83 736 946 217 (‘Fund’) are issued by Pinnacle Fund Services Limited (‘Pinnacle’) ACN 082 494 362 AFSL 238371 as trustee of the Fund. Pinnacle is not licensed to give advice. Investors should consider the Information Memorandum (IM) in its entirety before making an investment decision. The IM is available by emailing investorservices@ripariancp.com.

The information contained in this video is for information purposes only and has been prepared for use in conjunction with a verbal presentation and should be read in that context. The purpose of this presentation is to provide general information regarding a potential investment vehicle to be managed by Riparian. This presentation is being provided to determine a prospective investor’s degree of interest in receiving further information about the Fund and the manager.

Past performance is for illustrative purposes only and is not indicative of future performance. Unless otherwise specified, all amounts are in Australian Dollars (AUD). The information is not intended for any general distribution or publication and must be retained in a confidential manner. Information contained herein consists of confidential proprietary information constituting the sole property of Riparian and respecting its investment activities; its use is restricted accordingly. All such information should be maintained in a strictly confidential manner. Whilst Riparian believe the information contained in this communication is reliable, no warranty is given as to its accuracy, reliability or completeness and persons relying on this information do so at their own risk. Subject to any liability which cannot be excluded under the relevant laws, Pinnacle and Riparian disclaim all liability to any person relying on the information contained in this communication in respect of any loss or damage (including consequential loss or damage), however caused, which may be suffered or arise directly or indirectly in respect of such information. The information is not intended as a securities recommendation or statement of opinion intended to influence a person or persons in making a decision in relation to investment.

This video contains views and opinions of third parties who are compensated for their views and opinions and who retain rights to intellectual property.

The information in this communication has been prepared without taking account of any person’s objectives, financial situation or needs. Any persons relying on this information should obtain professional advice before doing so. The issuer is not licensed to provide financial product advice. Please consult your financial adviser before making a decision.

Any opinions and forecasts reflect the judgment and assumptions of Riparian and their representatives on the basis of information at the date of publication and may later change without notice. Any projections contained in this presentation are estimates only and may not be realised in the future.

The information is not intended as a securities recommendation or statement of opinion intended to influence a person or persons in making a decision in relation to investment. Unauthorised use, copying, distribution, replication, posting, transmitting, publication, display, or reproduction in whole or in part of the information contained in this communication is prohibited without obtaining prior written permission from Riparian. Pinnacle and Riparian and their associates may have interests in financial products and may receive fees from companies referred to during this communication.

All returns are targets, AUD denominated, net of all fund management fees, performance fees and operating expenses but before taxes. Past performance is not indicative of future results, which may vary. There can be no guarantee that the Fund will achieve target returns.