China offers unprecedented opportunities to asset managers and investors.

• This document is not an offering document for any securities and is intended for information purposes only. It is not an invitation or offer to make an investment in the Max Giant Fund I LP or the subsequent launch of funds by Max Giant Capital (Cayman) Limited (the “Manager”) and/or Max Giant Fund GP Limited (the "General Partner") (each a “Fund” and collectively the “Funds”) or to purchase any investment product offered through the Manager, the General Partner and/or any of its affiliates (together with the Funds “MGC”) or Max Giant Limited (the “Sub-Manager”). Any such invitation or offer may only be made by means of delivery of an approved confidential private placement memorandum (the “PPM”). Any representation to the contrary is not permitted.
• The indicative terms and other information included in this document are incomplete and condensed and are provided for discussion purposes only.
• An investment in one or all of the Funds is speculative and involves a high degree of risk. Prospective investors must familiarize themselves with the PPM related to such investment and must meet certain investment sophistication levels in order to make such investments and must be able to fully absorb the risks associated with such investment. The relevant PPM and a subscription agreement will be made available to those eligible to invest in the Funds who demonstrate the capacity to evaluate the risks and merits of such investment.
• Certain information included in this document is based on information obtained from sources considered to be reliable, however, MGC and the Sub-Manager does not guarantee the accuracy of such information and such information may be incomplete or condensed. Neither MGC nor any other person accept any responsibility or liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith. Opinions, estimates and forward looking statements are speculative in nature, involve a number of assumptions which may not prove to be valid and may be changed without notice. Examples contained in this document are illustrative and hypothetical only. The examples may not have actually been executed and no adjustments may have been made to reflect transaction and other costs and expenses.
• Past performance presented in this document is neither an indication of future results nor a guarantee of future returns that may be achieved by the Funds. The complete terms of investment for the Funds, including the investment program, fees and charges, tax consequences, risk factors, conflicts of interest and liquidity are set forth in the PPM. In the event of any conflict or inconsistency between the information in this document and in the PPM, the PPM shall be controlling.
• This document is produced solely for the specified recipient and its internal use. This document may not be transmitted, reproduced or made available to any other person. The information contained in this document is proprietary and confidential to MGC and may not be disclosed to third parties or duplicated or used for any purpose other than the purpose for which it has been provided. Any unauthorized use, duplication or disclosure of this document is prohibited by law. You should assume that the information appearing in this document is accurate only as of the date of this document, or as otherwise specifically indicated. MGC does not have any obligation to update or revise any statement or information in this document or correct inaccuracies whether as a result of new information, future events or otherwise.
• There can be no assurance that the Funds will achieve their investment objectives over the long term, or avoid losses. 
• This document must not be regarded as investment advice and the participating shares  or interests offered in the Funds (“PS”) shall not be provided to, directed towards, distributed to, offered to or sold to any person in any jurisdiction where such provision, distribution, offer or sale would be construed as providing investment advice or investment advisory services or unlawful and until the requirements of such jurisdiction have been satisfied.
• This document has not been approved by any competent supervisory authority. In particular, this document, together with any other document or material in connection with the offer, sale or invitation for subscription or purchase of PS (together, the "Offering Documents"), have not been approved by the Securities and Futures Commission in Hong Kong and, accordingly, PS may not be offered or sold in Hong Kong by means of the Offering Documents other than to “professional investors” (as such term is defined in the Securities and Futures Ordinance (Cap. 571 of the laws of Hong Kong), as amended (“HK SFO”)), or in circumstances which do not constitute an offer or an invitation to the public for the purposes of the HK SFO.
• In the United Kingdom, the issue or distribution of this document is being made only to, or directed only at: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FP Order”); (ii) high net worth companies and certain other entities falling within Article 49 of the FP Order; or (iii) persons to whom this document may be provided pursuant to Section 4.12 of the Conduct of Business Sourcebook of the UK Financial Conduct Authority (together, “relevant UK persons”). This document must not be acted or relied upon by persons who are not relevant UK persons. Any investment or investment activity to which this document relates is available only to relevant UK persons and will be engaged in only with relevant UK persons.

Risk Factors

• An investment in each Fund is speculative, involves substantial risk of loss and is suitable only for sophisticated persons for which an investment in the Funds does not represent a complete investment program and who fully understand and are capable of assuming the risks of an investment in the Funds. The following considerations, which do not purport to be a complete list of all risks involved in an investment in the Funds, should be carefully evaluated before investing in the Funds.
• Past performance presented in this document are not necessarily indicative of the future performance of the Funds and the Funds’ performance may be volatile.
• An investor could lose all or a substantial portion of its investment in the Funds.
• The composition of the Funds’ portfolios depend on potential investment opportunities and may be changed at any time at the discretion of the Directors of the Funds, the General Partner and the Manager.
• The Funds will employ a high degree of leverage and will engage in other speculative investment practices that may increase the risk of investment loss.
• The Funds are denominated in US dollars and will be subject to the risk that the value of currencies other than the US dollar will fluctuate versus the US dollar over the lifetime of the Funds.
• The liquid portfolio may become highly illiquid. There is no secondary market for an investor’s shares and none is expected to develop.
• There are restrictions on transferring shares in the Funds.
• The Manager has total trading authority over the Funds and the Funds are dependent upon the services of the Sub-Manager and a limited group of its principals.
• The Funds are subject to conflicts of interest.
• The Funds’ fees and expenses reduce trading profits.
• The Funds are not authorised by the Securities and Futures Commission in Hong Kong and is not subject to the same regulatory requirements as an authorised fund.
• The complete terms of investment for the Funds, including the investment program, fees and charges, legal, financial, fiscal and tax consequences, risk factors, conflicts of interest and liquidity are set forth in each Fund’s PPM, which must be reviewed and discussed with your independent professional adviser prior to any determination to invest in the Funds.