Masters Capital Management, LLC (the “Adviser” or “Firm”) is an investment management firm registered with the U.S. Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940. The Adviser’s principal place of business is located in Atlanta, Georgia. The Adviser provides discretionary investment advisory and management services to pooled investment vehicles intended for sophisticated and institutional investors. It provides advice to the pooled investment vehicles based on specific investment objectives and strategies surrounding investments in U.S. listed equities and derivatives. Michael W. Masters is the Founder and Managing Member of Masters Capital Management, LLC. Michael has led this Atlanta based firm as its Chief Investment Officer and Portfolio Manager since its inception in 1994. Michael has presented expert testimony to the U.S. Congress, CFTC, Financial Crisis Inquiry Commission, and other foreign governments. Additionally, he has presented to institutions which include: OPEC, The Hyman P. Minsky Conference, The Energy Information Administration, Harvard Kennedy School, Massachusetts Institute of Technology, and Georgia Institute of Technology.