LEGAL DISCLAIMER

This presentation is provided to you for informational purposes only. This report uses information that is considered reliable, but it does not represent that the information is accurate or complete, and the report July not be relied upon as such. The report is not intended to be either an expressed or implied guaranty of actual performance. It is not intended to supply tax or legal advice. There is no solicitation to buy or sell securities.

This is not your official monthly statement. In the event of any discrepancy between this report and your statement, the statement will govern. Some figures contained in this report are rounded to the nearest dollar. Any historical price(s) or value(s) is as of the date indicated. Information and opinions are as of the date of this material only and are subject to change without notice.

Performance figures were calculated by Morningstar. Morningstar uses daily time-weighted returns to calculate the performance of advisory accounts. Total portfolio performance returns, unless otherwise indicated, are calculated, net of fees, excluding the effect of taxes, for all accounts. Total asset class returns July reflect previous investments and July not equal the sum of the returns at a product level.

This report is proprietary to Momentum Advisors and its affiliates. Momentum Advisors reserves all rights in this proposal/report. Accordingly, Client agrees to protect the confidentiality of all information contained in this document, except as July be required by any applicable law, government order, or regulation, or by order or decree of any court of competent jurisdiction. Client shall not, without prior written consent of the Momentum Advisors publicly divulge, announce or in any manner disclose to any unrelated third party, any information or matters revealed herein, or any of the specific terms and conditions of this proposal, and each party shall do all such things as are reasonably necessary to prevent any such information from becoming known to any party other than the parties of this proposal Momentum Advisors and you understand that there will be additional details, including, but not limited to, legal and financial details, which will require further negotiation and discussion between the parties. It is understood that the Momentum Advisors will not be obligated to Client or any other entity until a written agreement approved by Momentum Advisors has been executed by both parties.

Any projections, forecasts and estimates, including without limitation any statement using “expect” or “believe” or any variation of either term or a similar term, contained in this report are forward-looking statements and are based upon certain current assumptions, beliefs and expectations that Momentum Advisors (“Momentum”, “we” or “us”) considers reasonable. Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions or beliefs underlying the forward-looking statements will not materialize or will vary significantly from actual results or outcomes. Some important factors that could cause actual results or outcomes to differ materially from those in any forward-looking statements include, among others, changes in interest rates and general economic conditions in the U.S. and globally, changes in the liquidity available in the market, change and volatility in the value of the U.S. dollar, market volatility and distressed credit markets, and other market, financial or legal uncertainties. Consequently, the inclusion of forward-looking statements herein should not be regarded as a representation by Momentum or any other person of the outcomes or results that will be achieved by following any recommendations contained herein.

Momentum Advisors is registered with the Securities and Exchange Commission as an investment adviser under the Investment Advisers Act of 1940, as amended (“Advisers Act”).

The firm’s form ADV parts I and II can be found on at www.sec.gov