The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or investment strategy and is not provided in a fiduciary capacity.

The information on this website is intended for United States of America residents only. If you are a non-U.S.A resident, please feel free to message us at info@greycatalystam.com.

This material is provided for informational purposes only and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are subject to change at any time without notice. References to specific securities, asset classes and financial markets are for illustrative purposes only and are not intended to be and should not be interpreted as recommendations.The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action.

This material may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections, forecasts, estimates of yields or returns, and proposed or expected portfolio composition. Moreover, any historical performance information of other investment vehicles or composite accounts managed by Grey Catalyst Asset Management and/or its subsidiaries (together, “Grey Catalyst Asset Management”) included in this material is presented by way of example only. No representation is made that any performance presented will be achieved, or that every assumption made in achieving, calculating or presenting either the forward-looking information or the historical performance information herein has been considered or stated in preparing this material. Any changes to assumptions that may have been made in preparing this material could have a material impact on the investment returns that are presented herein by way of example. Past performance is no guarantee of future results.Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her financial professionals.

The Information provided does not constitute a solicitation of an offer to buy, or an The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.

The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by Grey Catalyst to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy.

FOR INSTITUTIONAL, FINANCIAL PROFESSIONAL, AND PERMITTED CLIENTS USE ONLY. THIS MATERIAL IS NOT TO BE REPRODUCED OR DISTRIBUTED TO PERSONS OTHER THAN THE RECIPIENT.

Grey Catalyst is an innovative global asset management company that provides a broad range of investment management and advisory services that serve a diverse mix of institutional and retail clients across the globe within the public markets.

NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE

Grey Catalyst Asset Management is a globally diversified consortium of investors comprised of institutions, corporations, international family offices and entrepreneurs from North America, and Asia who invest alongside the firm, its partners and the team.

Unauthorized use and /or duplication of this material without express and written permission is prohibited.

San Francisco, California United States Of America.

Guadalajara (Zapopan)-Mexico City.

Mexico.