RIN II •094 Alpha Group Capital LLC RISKS RELATING TO THE PREFERRED SHARES Limited Liquidity and Restrictions on Transfer There is no established secondary market for the Preferred Shares, and it is not expected that any secondary market for any of the Preferred Shares will develop, or if a secondary market does develop, that it will provide the Preferred Shareholders with liquidity of investment or will continue for the life of the Preferred Shares. None of the Portfolio Advisor, the Placement Agents, Deutsche Bank or any of their respective affiliates is under any obligation to make a market for the Preferred Shares. The Preferred Shares are designed for long-term investors and should not be considered a means for short-term trading. Consequently, an Investor must be prepared to hold its Preferred Shares for an indefinite period of time. The Preferred Shares will not be registered under the Securities Act or any state securities laws and are subject to transfer restrictions related thereto. In addition, no Transfer of the Preferred Shares may be affected if, among other things, it would require either the Issuer or the pool of the Assets of the Issuer to register under, or otherwise be subject to the provisions of, the Investment Company Act or any similar legislation or regulatory action. Further, any Transfer of Preferred Shares must include a transfer of the proportionate amount of any unfunded Capital Commitment pursuant to the PS Purchase Agreement. As a resutt, the Preferred Shares are subject to certain transfer restrictions and can only be Transferred to certain transferees as described under Section 11, "Summary of Principal Terms—Preferred Shares— Purchase Restrictions" and "Summary of Principal Terms—Additional Matters—Tax Treatment". In addition, each Preferred Shareholder has the right under the PS Purchase Agreement to request certain information relating to the Issuer and its Assets and to inspect the Issuer's book and records. Such