Risk Factors 1 (continued) An investment in Preferred Shares involves a high degree of risk, including possible loss of Preferred Shares holders investment, and is suitable only for sophisticated investors who can bear such losses. The value of the Preferred Shares and their derived income may fall or rise. My forecasts provided herein are based upon the Issuer's and the Portfolio Advisor's opinion of the market at this date and are subject to change dependent on the market. Past performance or any prediction, projection or forecast on the economy or markets is riot indicative of future performance. The Portfolio Advisor's team develops target performance range information by reference to the historical performance of assets suitable for an investment by the Issuer, analyzed in the context of the investment environment(s) that the Portfolio Advisor expects may be relevant to the investment program of the Issuer. It is also assumed that the Portfolio Advisor will be in a position to continue to identify and analyze target investments in view of information available to it at the time of the investment decision pertaining to, amongst other things, asset quality. sponsor credit, term of loan, interest rate, security, debt service coverage ratio, loan-to-value ratio, cash flow analysis, loan structure and other related information that the Portfolio Advisor deems relevant. In developing target performance information, the Portfolio Advisor uses historical information related to the performance of investments that would meet the specified criteria for an investment by the Portfolio Advisor. adjusted to reflect any modified assumptions, such as capital markets conditions, capital flows and liquidity, relating to the investment environment that the Portfolio Advisor expects for the Issuer. Any forecasts or opinions provided are based upon the Portfolio Advisor's opinion of the market as at this date and are subject to change. dependent on future changes in the ma