IMPORTANT DISCLAIMER: This document offers information about the GRRE Capital Fund and is for information purposes only. The information contained in this document is confidential. This document is not an advertisement and the information contained herein does not constitute investment advice or solicitation of an offer to buy any security or derivative. It may not be reproduced, distributed or published by any recipient for any purpose. It is not directed at or intended for distribution to or use by any person or entity in any jurisdiction where such distribution, publication or use would be contrary to applicable law or regulation. The document should be read in conjunction with the fund prospectus, which can be obtained from the fund administrator, Caprayal Trust AG. The investment may increase or decrease in value and is not guaranteed. Past performance is not an indicator of future performance. Exchange rate fluctuations may affect the value of the investment.