HUBUS133 Alpha Group Capital The service providers of the Management Company, the Partnership and the Underlying Funds are subject to the same electronic information security threats as the Management Company. If a service provider fails to adopt or adhere to adequate data security policies, or in the event of a breach of its networks, information relating to the transactions of the Underlying Funds and personally identifiable information of the Limited Partners may be lost or improperly accessed, used or disclosed. The loss or improper access, use or disclosure of the Management Company's or the Partnership's proprietary information may cause the Management Company, the Partnership, or an Underlying Fund to suffer, among other things, financial loss, the disruption of their businesses, liability to third parties, regulatory intervention or reputational damage. Any of the foregoing events could have a material adverse effect on the Partnership and the Limited Partners' investments therein. Market Risks in General All of the Underlying Funds' strategies are subject to some dimension of market risk: for example, directional price movements, deviations from historical pricing relationships, changes in the regulatory environment, changes in market volatility, "flights to quality" and "credit squeezes." The Management Company's style of alternative investing (including its arbitrage or relative value trading) may be no less speculative than traditional investing strategies. On the contrary, alternative investment strategies—even strategies that could be considered to have low volatility and comparatively low risk—have from time to time incurred sudden and dramatic losses. The Management Company may have only limited ability to assess the market risks to which an Underlying Fund's investments with Third-Party Ventures are subject. The particular or general types of market conditions in which an Underlying Fund may incur losses or experience unexpec