PFM's Custodian - One Investment Group (OIG)

The Trustee has appointed One Managed Investment Funds Limited (OMIFL) under a Custody Agreement.

OMIFL has no supervisory role in relation to the operation of the Fund and has no liability or responsibility to a unit holder for any act done or omission made in accordance with the Custody Agreement.

The Custodian has not made any statement or purported to make any statement that is included in the Information Memorandum or statement on which a statement made in this Information Memorandum is based, except as set out in this paragraph.

The Custodian expressly disclaims all liability in respect of, makes no representation or any statement regarding, and takes no responsibility for any part of this Information Memorandum or any statements in or omissions in this Information Memerandum other than the reference to its name. This applies to the maximum extent permitted by law and does not apply to any matter to the extent to which the consent is given.

The Custodian does not guarantee the return of any capital sums invested or any rate of return or the performance of any obligations.