SFGA LLC Client Copy of Material

8/13/2019 SFGA LLC Client Copy of Material

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Ycerlesce Dehlhielk Aroup nvesorsWrevliy HoteibYcerlesce Dehlhielk Aroup Lnvesors (YDAL) es lh ehvbstjbht lnvesbr koiltbn eh tcb Ytltb o Clwlee. Ourpokeiy es to rbspbit our ik ebht s pbrsohlk ehdorjlteoh lhn jlehtleh tcb ceacbst kbvbk o iohdenbhtelkety wetcrbalrn to lkk ehdorjlteoh wb iokkbit rbalrneha our ikebhts.Qb no hot sbkk pbrsohlk ehdorjlteoh lmout our ikebhts to lhyohb. Qb wekk hot sclrb pbrsohlk ehdorjlteohlmout our ikebhts wetc otcbr iojplhebs uhkbss wb hbbn to sclrb tcb ehdorjlteoh eh ornbr to provenb lpronuit, sbrveib or quotb tclt l ikebht cls rbqubstbn. Rhkbss wb tbkk ikebhts otcbrwesb, tcbsb otcbr iojplhebsno hot clvb tcb react to usb ikebhts pbrsohlk ehdorjlteoh omtlehbn droj our derjs eh lhy jlhhbr mbyohnwclt es rbquerbn to provenb tcb ikebht s rbqubstbn pronuit or sbrveib. Our derj kejets tcb iokkbiteoh opbrsohlk ehdorjlteoh to wclt es hbibsslry to lnjehestbr our musehbss lhn to nbkevbr our pronuits lhnsbrveibs to our ikebhts.Ehdorjlteoh Qb IokkbitWrejlreky, y u provenb us wetc l jlforety o tcb ehdorjlteoh wb iokkbit eh tcb ioursb o liteha ls yourdehlhielk pklhhbr lhn/or ehvbstjbht lnvesor. Ehdorjlteoh iokkbitbn jly rbkltb to your dehlhibs, bjpkoyjbhtlhn cblktc ls wbkk s pumkeiky lvleklmkb ehdorjlteoh lmout you. Kestbn mbkow lrb l dbw bxljpkbs oehdorjlteoh wb iokkbit.

Wbrsohlk ehdorjlteoh suic s hljb, lnnrbss, pcohb hujmbr, nltb o mertc lhn soielk sbiuretyhujmbr.Dehlhielk ehdorjlteoh suic ls ehiojb, hbt wortc, res` tokbrlhib, liiouht hujmbrs, tlx mrli`bt,lssbts lhn kelmeketebs.Wbrsohlk dljeky ehdorjlteoh suic ls hljbs, lnnrbssbs lhn nltbs o mertc dor dljeky jbjmbrs.Wbrsohlk cblktc ehdorjlteoh suic ls cblktc iohneteohs, rbibht surabrebs, trbltjbhts, bti.

Qb lkso iokkbit ehdorjlteoh lmout your trlhsliteohs wetc us suic ls ehsurlhib prbjeujs lhn pokeiyhujmbrs, ehvbstjbht mro`brlab liiouht hujmbrs lhn rbterbjbht pklh ehdorjlteoh.Ehdorjlteoh Iokkbiteoh WroibnurbWbrsohlk ehdorjlteoh wb iokkbit lmout you jeact iojb droj sbvbrlk neddbrbht s o u r i b s ~ b x j p k b s o tcosbsouribs lrb ls dokkows6

Nerbitky droj you vel tbkbpcohb ilkks, jbbtehas, bti.Ehdorjlteoh suppkebn tcrouac iohtrlits, larbbjbhts, ehsurlhib lhn ehvbstjbht mro`brlab liiouhtlppkeilteohs or vlreous otcbr dorjs.Ehdorjlteoh provenbn my hohlddekeltbn tcern plrtebs suic ls your liiouhtlht, lttorhby or otcbrprodbsseohlks.Ehdorjlteoh provenbn my jbjmbrs o your dljeky (spousb, iceknrbh, bti.).Ehdorjlteoh rbibevbn nerbitky droj tcern plrtebs suic ls sbiurety mro`brlab derjs, ehsurlhibiojplhebs, jutulk duhn iojplhebs lhn prevltb ehstetuteohlk portdokeo jlhlabrs.

Ikebht Iopy


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Ehdorjlteoh Qb NesikosbQb no rbsbrvb tcb react to nesikosb or rbport pbrsohlk ehdorjlteoh eh kejetbn ieriujstlhibs to tcern plrtebstclt rbquerb liibss to your pbrsohlk ehdorjlteoh. ^cb iltbaorebs od hohpumkei pbrsohlk ehdorjlteoh tclt wbiokkbit droj l ikebht nbpbhn upoh tcb siopb od tcb ikebht bhalabjbht. t wekk ehikunb suetlmekety ehdorjlteohlmout you lhn ehdorjlteoh lmout your ehvbstjbht coknehas lhn trlhsliteohs mbtwbbh you lhn tcern plrtebs.t jly ehikunb cblktc ehdorjlteoh lmout you to tcb bxtbht et es hbbnbn dor tcb dehlhielk pklhheha proibss.

Eh tcb horjlk ioursb od musehbss wb jly sclrb your pbrsohlk ehdorjlteoh wetc tcb dokkoweha ehnevenulkslhn bhtetebs6Ehnevenulks wetc wcoj you clvb nerbitbn us to spbl` wetc - liiouhtlht, lttorhby, jortalabkbhnbr, otcbr prodbsseohlks, ehikuneha ehsurlhib labhiebs lhn labhts lhn dljeky jbjmbrs.]baukltors suic ls dbnbrlk or stltb bxljehbrs wcbh wb lrb rbquerbn to nesikosb your ehdorjlteohmy klw.Liiouhtlhts lhn lunetors cerbn my our derj to pbrdorj liiouhteha, tlx wor` lhn rbquerbnbxljehlteohs.

Otcbr derjs wetc wcoj betcbr you or our derj cls iohtrlitbn dor opbrlteohlk or ehvbstjbhtjlhlabjbht sbrveibs.Iohsuktlhts wb bjpkoy to rbvebw our musehbss lhn rbaukltory prliteibs (ehikuneha iojputbriohsuktlhts).]bauklteohs pbrjet us to sclrb ehdorjlteoh lmout you wetc l mro`brlab derj eh ornbr to bxbiutbsbiuretebs trlhsliteohs oh your mbclk

Cow wb usb tces ehdorjlteohQb usb tces ehdorjlteoh to iohnuit musehbss wetc you. Lt ho tejb no wb sbkk your ehdorjlteoh. Lhn wbsclrb et ohky wcbh et es hbibsslry to iohnuit musehbss wetc you.Wbrsohlkky enbhtedelmkb ehdorjlteoh lmout you wekk mb jlehtlehbn nureha tcb tejb you lrb l ikebht, lhn dortcb rbquerbn tejb tcbrbldtbr tclt suic rbiorns lrb rbquerbn to mb jlehtlehbn my dbnbrlk lhn stltb sbiuretebsklw. Ldtbr tces rbquerbn pbreon od rbiorn rbtbhteoh, lkk suic ehdorjlteoh wekk mb nbstroybn.Wrotbiteoh o Uour Iohdenbhtelk EhdorjlteohOur derjs pokeiebs rbquerb tclt bjpkoybbs wetc liibss to iohdenbhtelk ikebht ehdorjlteoh jly hot usb ornesikosb tcb ehdorjlteoh bxibpt dor musehbss usb. Liibss to ikebht ehdorjlteoh es rbstreitbn to ourbjpkoybbs, lddekeltbs, rbprbsbhtltevbs lhn labhts wetc l musehbss rblsoh dor liibss to suic ehdorjlteoh. Qbsldbaulrn ehdorjlteoh liiorneha to bstlmkescbn sbiurety stlhnlrns lhn proibnurbs lhn trleh our bjpkoybbslhn rbprbsbhtltevbs to uhnbrstlhn lhn iojpky wetc tcbsb protbiteohs.Wrevliy Wokeiy IclhabsYDAL rbsbrvbs tcb react to upnltb lhn iclhab our pokeiebs. d wb no jl`b lhy iclhabs wb wekk hotedy youeh wreteha. Eh lnneteoh, you wekk mb provenbn wetc tcb derjs jost iurrbht prevliy hoteib lt kblst lhhulkky.Cow to Iohtlit us wetc Wrevliy \ubsteohsd you clvb lhy qubsteohs rbalrneha our prevliy pokeiy, pkblsb iohtlit us my6

Wcohb lt6 (373) 52


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Dorj LNT Wlrt =LNesikosurb Mroicurb

Ycerlesce Dehlhielk Aroup Lnvesors


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Etbj = Jltbrelk clhabs^ces sbiteoh nesikosbs jltbrelk iclhabs to tces noiujbht sehib tcb klst lhhulk upnltbn dekeha. Yehib tces es lh ehetelk dekeha,tcbrb lrb ho jltbrelk iclhabs to mb nesikosbn.

Etbj 9 ^lmkb o ohtbhtsEtbj < Iovbr WlabEtbj = Jltbrelk IclhabsEtbj 9 ^lmkb od IohtbhtsEtbj > Lnvesory MusehbssEtbj 2 Dbbs lhn IojpbhslteohEtbj 4 Wbrdorjlhib-Mlsbn Dbbs lhn Yenb-My-Yenb JlhlabjbhtEtbj 1 ^ypbs od IkebhtsEtbj 3 Jbtcons od Lhlkyses, Ehvbstjbht Ytrltbaebs lhn ]es` o KossEtbj 5 Nesiepkehlry EhdorjlteohEtbj


5/14

Etbj > Lnvesory MusehbssOvbrvebw o Ycerlesce Dehlhielk Aroup LnvesorsYcerlesce Dehlhielk Aroup Lnvesors (YDAL) es tcb prejlry musehbss hljb dor YDAL KKI, l kejetbn kelmekety iojplhbstlmkescbn eh Fuky, =7


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keibhsbn ls ehvbstjbht lnvesors my tcb stltb od Clwlee, rbaestbrbn ls ehvbstjbht lnvesors wetc tcb Ybiuretebs lhnBxiclhab Iojjesseoh (YBI) or otcbrwesb bxbjpt droj suic keibhseha or rbaestrlteoh.Ldtbr altcbreha ehdorjlteoh lmout l ikebht's dehlhielk setulteoh lhn ehvbstjbht omfbitevbs, YDAL jly rbiojjbhn spbiedeisbrveibs or proarljs od ^WELs to ikebhts tclt lrb suetlmkb lhn lppropreltb dor tcb ikebht mlsbn oh tcb ikebhts' ehnevenulkhbbns lhn ieriujstlhibs, ehikuneha ehvbstjbht omfbitevbs lhn res` tokbrlhib kbvbks, ls tcby clvb jlnb tcbj `howh toYDAL. Dlitors tclt YDAL tl`bs ehto iohsenbrlteoh wcbh jl`eha suic rbiojjbhnlteohs ehikunb, mut lrb hot kejetbn to,tcb ^WEL's pbrdorjlhib, jbtcons od lhlkyses lhn dbbs. YDAL pbreoneilkky rbvebws tcb ^WEL lhn ets pbrdorjlhib doriohtehubn iohsestbhiy wetc tcb ikebht's ehvbstjbht omfbitevbs lhn res` tokbrlhibs.Lt tcb tejb od tcb rbdbrrlk, ikebhts wco lrb rbdbrrbn to ^WELs wekk rbibevb tcb rbspbitevb ^WEL's Dorj LNT Wlrt = nesikosurbmroicurb lhn/or otcbr rbkbvlht nesikosurb noiujbhts. ^cbsb noiujbhts lrb nbseahbn to provenb iojpkbtb nesikosurb odtcb ^WEL, ehikuneha sbrveibs rbhnbrbn drbqubhiy od mekkeha, dbb sicbnukbs lhn tcb iojpbhslteoh to mb plen to YDAL ls lrbsukt od tcb rbdbrrlk.Etbj 2. Dbbs lhn IojpbhslteohDehlhielk Iohsuktlteoh Ybrveibs DbbsYDAL provenbs dehlhielk iohsuktlteoh sbrveibs to ikebhts dor l dexbn lhhulk dbb tclt rlhabs droj 277 to


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rbqubstbn to mekk tcb ikebht's liiouht. ^cb ikebht's liiouht iustonelh wekk lkso sbhn tcb ikebht stltbjbhts lt kblst qulrtbrscoweha lkk litevety eh tcb ikebht's liiouht, ehikuneha tcb ljouht o tcb lnvesory dbb.^cern Wlrty Ehvbstjbht Lnvesor ]bdbrrlk YbrveibsYDAL wekk rbibevb iojpbhslteoh ls provenbn dor eh ets larbbjbhts wetc ^WELs dor ehtronuieha ikebhts. ^cb iojpbhslteoh tYDAL es typeilkky bqulk to l pbribhtlab o tcb ehvbstjbht lnvesory dbb iclrabn my tclt ^WEL lhn es nesikosbn to tcb ikebeh tcb ^WELs Dorj LNT Wlrt = or Yokeietors Nesikosurb Ytltbjbht.Yehib tcb dbb dor YDAL's sbrveibs es plen my tcb ehnbpbhnbht ^WEL, tcb dbb plen to YDAL es typeilkky hot hbaotelmkb, Dbbplen my ikebhts to ehnbpbhnbht ^WELs lrb bstlmkescbn lhn plylmkb eh liiornlhib wetc tcb Dorj LNT Wlrt = or otcbbquevlkbht nesikosurb provenbn my blic ehnbpbhnbht ^WEL to wcoj YDAL rbdbrs ets ikebhts, lhn jly or jly hot mhbaotelmkb, ls nesikosbn eh tcb nesikosurb noiujbhts o tcb ^WEL.Ibrtleh proarljs jly iclrab l wrlp dbb , wceic es sehakb pbreonei dbb tclt es iclrabn to tcb ikebht dor motc mro`brlab lhehvbstjbht jlhlabjbht sbrveibs. Ybkbiteoh od l wrlp dbb proarlj jly rbsukt eh tcb plyjbht od dbbs my ikebhts tclbxibbn tcb iojmehbn totlk od sbplrltb lnvesory dbbs lhn mro`brlab iojjesseohs tcb ikebht jeact otcbrwesb ply ed tcliiouht wls hot l wrlp dbb liiouht. Ed l wrlp dbb proarlj es hot sbkbitbn, tcb ikebht wekk mb iclrabn sbplrltbky tcjlhlabjbht dbb my tcb ^WEL lhn trlhsliteoh iclrabs my tcb sbiuretebs mro`br-nblkbr.Ikebhts wekk seah lh lnvesory larbbjbht nerbitky wetc tcb ^WEL o tcb proarlj sbkbitbn. ^cb lnvesory rbklteohscep jly mtbrjehltbn my tcb Ikebht, YDAL, or tcb ^WEL eh liiornlhib wetc tcb proveseohs od tcosb larbbjbhts. ^cb ikebht wtypeilkky rbibevb l pro-rltl rbduhn o lhy prbplen lnvesory dbbs upoh tbrjehlteoh o tcb lnvesory larbbjbht wetc l ^WELls spbiedebn eh tcb Ikebhts larbbjbht wetc tcb ^WEL.Otcbr Ejportlht Ehdorjlteohro`brlab hn Iustonelk IclrabsEh lnneteoh to Lnvesor's Wortdokeo Jlhlabjbht dbbs, Ikebhts wekk lkso ply lhy mro`brlab or iustonelk iosts lssoieltbn wettcber liiouht. Dor jorb ehdorjlteoh lmout Lnvesor's mro`brlab rbiojjbhnlteohs lhn lrrlhabjbhts, pkblsb rbdbr to Etbj


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duhns tclt wbrb rbnbbjbn eh ornbr to plrteiepltb eh tcb portdokeo jlhlabjbht sbrveib.Dor jorb ehdorjlteoh lmout YDAL's mro`brlab rbiojjbhnlteohs lhn lrrlhabjbhts, pkblsb rbdbr to Etbj


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Musehbss ]es` - tcb res` tclt tcb preib od lh ehvbstjbht wekk iclhab nub to dlitors uhequb to tclt iojplhyehvbstjbht or jlr`bt sbajbht lhn hot tcb jlr`bt eh abhbrlk.Kequenety ]es` tcb res` lssoieltbn wetc tcb blsb od mbeha lmkb to quei`ky iohvbrt tcb vlkub od l sbiurety ehto lbquevlkbht ljouht od ilsc. Dor bxljpkb, johby jlr`bt duhns lrb rblneky iohvbrtemkb {kequen} wcekb ibrtleh kejetbplrthbrscep uhets or rblk bstltb lrb hot.Dehlhielk ]es` tcb res` to spbiedei iojplhebs duturb blrhehas nub to tcber usb od nbmt. Iojplhebs tclt morrowjohby just ply et mli` lt sojb duturb nltb, pkus tcb ehtbrbst iclrabs. ^ces ehirblsbs tcb uhibrtlehty lmout tciojplhy mbilusb et just clvb bhouac ehiojb to ply mli` tces ljouht lt sojb tejb eh tcb duturb.Bxiclhab ]ltb (Iurrbhiy) ]es` - tcb res` tclt ehvbstors eh dorbeah ehvbstjbhts jly mb sumfbit to neddbrbhbxiclhab rltbs lt tcb tejb tcby wesc to iohvbrt ehvbstjbht proibbns mli` to tcber cojb iurrbhiy. Ed bxiclhabrltb res` es ceac, bvbh tcouac sumstlhtelk prodets jly clvb mbbh jlnb eh tcb dorbeah jlr`bts, l kbss dlvorlmkbxiclhab rltb jly rbnuib or bkejehltb tcbsb prodets.Iouhtry (Woketeilk} ]es` tcb res` tclt l jlfor iclhab eh tcb poketeilk or biohojei bhverohjbht od l dorbeah iouhtrjly nbvlkub ehvbstjbhts jlnb eh tclt iouhtry. ^ces res` es usulkky rbstreitbn to bjbraeha or nbvbkopeha iouhtrebtclt no hot clvb stlmkb biohojei or poketeilk bhverohjbhts.Jlr`bt ]es` - tcb res` tclt tcb preib od l plrteiuklr ehvbstjbht wekk iclhab ls l rbsukt od ovbrlkk jlr`bt iohneteohtclt lrb hot spbiedei to tclt plrteiuklr iojplhy or ehvbstjbht.Ehtbrbst ]ltb ]es` tcb res` tclt ehtbrbst rltb iclhabs wekk lddbit tcb preib od l plrteiuklr ehvbstjbht. Dor bxljpkbwcbh ehtbrbst rltbs resb, tcb preib od mohns abhbrlkky dlkk.

^cb spbiedei res`s lssoieltbn wetc ^WEL proarljs lrb nesikosbn eh tcb ^WELs nesikosurb mroicurb.YDAL nobs hot rbprbsbht, wlrrlht, or ejpky tclt tcb sbrveibs or jbtcons od lhlkyses bjpkoybn my tcb Derj ilh or wekkprbneit duturb rbsukts, suiibssdukky enbhtedy jlr`bt tops or mottojs, or ehsukltb ikebhts droj kossbs nub to jlr`btiorrbiteohs or nbikehbs.Etbj 5. Nesiepkehlry EhdorjlteohYDAL lhn ets prehieplks lhn jlhlabjbht pbrsohhbk clvb hot mbbh ehvokvbn eh lhy kbalk or nesiepkehlry bvbhts tclt lrjltbrelk to l ikebht s bvlkulteoh od ets lnvesory musehbss or tcb ehtbarety od jlhlabjbht.Etbj


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litevetebs eh Clwlee. Ls l keibhsbn ehsurlhib labht, Cbrmbrt Ycerlesce jly oddbr ehvbstjbht lnvesory ikebhts tcb opteoh topuriclsb kedb, koha-tbrj ilrb lhn otcbr ehsurlhib pronuits tcrouac cej. Ed l ikebht puriclsbs ehsurlhib pronuits tcrouaccej, cb wekk rbibevb iojjesseohs lhn rbkltbn iojpbhslteoh, suic ls ehsurlhib trlek dbbs ls l rbsukt o tcb slkb. Ikebhtslrb lnvesbn tclt ces rbibept o iojpbhslteoh droj suic rbiojjbhnlteohs ilh aevb cej lh ehibhtevb to rbiojjbhnpronuits mlsbn oh tcb iojpbhslteoh rbibevbn, rltcbr tclh oh tcb hbbns o tcb ikebht.Ikebhts scoukn mb lssurbn tclt, ls rbquerbn my YDAL s Ionb o Btceis, Jr. Ycerlesce lhn otcbr YDAL kL]s jl`b bvbrybddort to rbiojjbhn sbiuretebs lhn ehsurlhib pronuits tclt lrb jost lppropreltb dor tcb ikebht, wetcout iohsenbrlteoh oiojpbhslteoh lrrlhabjbhts. Ikebhts lrb uhnbr ho omkealteoh to puriclsb rbiojjbhnbn sbiuretebs or ehsurlhib pronuitstcrouac Jr. Ycerlesce or YDAL kL]s lhn jly puriclsb suic pronuits tcrouac tcb mro`br-nblkbr or ehsurlhib labhiy otcber icoeib.^WELsMbilusb YDAL lhn ets rbprbsbhtltevbs rbibevb iojpbhslteoh droj tcb ^cern-plrty Ehvbstjbht Lnvesors dor rbdbrrehaikebhts lhn mbilusb suic iojpbhslteoh jly neddbr nbpbhneha upoh tcb ehnevenulk larbbjbht wetc blic ^WEL, YDALlhn/or ets rbprbsbhtltevbs jly clvb lh ehibhtevb to rbiojjbhn ohb o tcbsb ^WELs ovbr otcbr ^WELs wetc wceic et clskbss dlvorlmkb iojpbhslteoh lrrlhabjbhts, or otcbr lnvesory proarljs oddbrbn my ^WELs wetc wceic et cls hoiojpbhslteohs lrrlhabjbhts. YDAL rbquerbs tclt ^WELs lrb rbiojjbhnbn mlsbn oh tcber ehtbrbst o tcb ikebhtrbalrnkbss o tcb ljouht o iojpbhslteoh blrhbn. YDAL sclkk hot rbiojjbhn tcb usb o lh outsenb ehvbstjbht lnvesoruhkbss tcb ehvbstjbht lnvesor es rbaestbrbn/hoteib dekbn or bxbjpt droj rbaestrlteoh/hotedeilteoh eh tcb ikebht s cojb stltb.Etbj


11/14

Wkblsb sbb Jutulk Duhn lhn Otcbr Ehtbrhlk Ehvbstjbht Iclrabs eh Etbj 2 lmovb dor ehdorjlteoh lmout EL] plrteieplteoh ejutulk duhn


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Etbj


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Dorj LNT Wlrt =3Nesikosurb Mroicurb YuppkbjbhtdorFlsoh QohaYcerlesce Dehlhielk Aroup Lnvesors


14/14

Etbj =. Bnuilteohlk Mli`arouhn lhn Musehbss BxpbrebhibFlsoh Qoha Morh6

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