Barclays Investment Banking Pitch Book
Disclaimer
This document has been prepared by Barclays Capital Inc (Barclays") for information purposes only. This document is confidential and for the sole and exclusive benefit and internal use of ArdLight Capital Partners, LLC (the "Recipient")
in connection with the matter or possible transaction to which this document relates, and no part of it may be reproduced, distributed or transmitted without the prior written permission of Barclays. This document is an indicative summary of
the terms and conditions of the transaction described herein and may be amended, superseded or replaced by subsequent summaries. The final terms and conditions of the transaction will be set out in full in the applicable binding
transaction document(s). This document is incomplete without reference to, and should be assessed solely in conjunction with, the oral briefing provided by Barclays
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document relates or otherwise) or to sell, acquire, place or underwrite any securities or to lend moneys or to provide any other commitment, facility, product, risk management solution or service, nor does Barclays represent by providing
this document to the Recipient that it will be possible for Barclays to provide, arrange of undertake any of the aforementioned services, activites, products or solutions. Any commitment by Barclays to provide, antange or undertake any of
the aforementioned services, activities, products or solutions would be subject to Barclays signing appropriate documentation, obtaining all necessary internal approvals and completing due diligence, in each case in a manner satisfactory
to Barclays
This document was prepared on the basis of information and data, obtained from publicly available sources and, where applicable, from the Recipient and/or any other entity that may be involved in any transaction or matter contemplated
by this document (and/or any of the Recipient's or aforementioned entities affiliates), in each case prior to or on the date hereof, Barclays makes no warranty or representation, express or implied, as to the accuracy or completeness of
information which is contained in this document and which is stated to have been obtained from or is based upon trade and statistical services or other third party sources. The information in this document has not been independently
verified by Barclays and Barclays does not assume any liability for any such information. Any data on past performance, modeling or back-testing contained herein is no indication as to future performance. No representation is made as to
the reasonableness of the assumptions made within or the accuracy or completeness of any modeling or back-testing or any other information contained herein. All opinions and estimates are given as of the date hereof and are subject to
change and Barclays assumes no obligation to update this document to reflect any such changes. The value of any investment may fluctuate as a result of market changes. The information herein is not intended to predict actual results
and no assurances are given with respect thereto. Nothing herein shall be deemed to constitute investment, legal, tax, financial, accounting or other advice
The Recipient is responsible for making its own independent investigation and appraisal of the risks, benefits, appropriateness and suitability of any transaction or matter contemplated by this document and Barclays is not making any
recommendation (personal or otherwise) or giving any investment advice and will have no liability with respect thereto. The decision to proceed with any transaction or action contemplated by this document must be made by the Recipient
in the light of its own commercial assessments and Barclays will not be responsible for such assessments
Neither Barclays nor any of its subsidiaries or affiliates, nor any of their respective directors, officers, employees, advisors or other representatives (Barclays together with such persons being the "Barclays Group") accepts any liability
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specialized advice (including financial, tax, legal and accounting, among other advice)
This document does not constitute nor does it for part of an offer to sell or purchase, or the solicitation of an offer to sell or purchase, any securities or any of the businesses or assets described herein or an offer or recommendation to
enter into any transaction described herein nor does this document constitute an offer or commitment to provide, arrange or underwrite any financing.
Members of the Barclays Group are involved in a wide range of commercial banking investment banking and other activities out of which conflicting interests or duties may arise. In the ordinary course of its business, the Barclays Group
may provide services to any other entity or person whether or not a member of the same group as the Recipient (a "Third Party"), engage in any transaction (whether on its own account, on behalf of any Third Party or otherwise, and
including any transaction or matter contemplated by this document), notwithstanding that such services, transactions or actions may be adverse to the Recipient or any member of the Recipient's group, and the Barclays Group may retain
for its own benefit any related remuneration or profit. The Bardays Group operates in accordance with a conflicts of interest policy which identifies conflicts of interest it faces in the ordinary course of its business, and establishes
organisational and procedural measures to manage those conflicts where it is reasonably able to do so. Neither Barclays nor any other part of the Barclays Group shall have any duty to disclose to the Recipient or utilise for the Recipient's
benefit any non-public information acquired in the course of providing services to any other person, engaging in any transaction (on its own account or otherwise) or otherwise carrying on its business The Barclays Group's research
analysts and research departments are independent from its banking business and are subject to certain regulations and internal policies. The Barclays Group's research analysts may hold opinions and make statements or investment
recommendations and/or publish research reports with respect to any company referred to herein, the transactions contemplated herein or any person or entity involved therein or related thereto that differ from or are inconsistent with the
views or advice communicated by the Barclays Group's banking business. Barclays is a full service securities firm and as such from time to time may effect transactions for its own account or the account of its clients and hold long or short
positions in debt, equity or other securities of the companies referred to herein
THIS DOCUMENT DOES NOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ISSUES RELATED TO AN INVESTMENT IN THE SECURITIES, FINANCIAL INSTRUMENTS OR TRANSACTIONS DESCRIBED HEREIN
PRIOR TO TRANSACTING, YOU SHOULD ENSURE THAT YOU FULLY UNDERSTAND THE TERMS OF THE TRANSACTION AND ANY APPLICABLE RISKS
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(including any retail investor or customer), copied or otherwise reproduced or distributed to any such person in any manner whatsoever. FAILURE TO COMPLY WITH THIS DIRECTIVE CAN RESULT IN A VIOLATION OF THE
SECURITIES ACT OF 1933, AS AMENDED
These materials have not been produced by the Barclays Group's research department and do not constitute investment research or a research recommendation for the purposes of the Financial Conduct Authority rules or a research
report under applicable U.S. Law
Barclays Capital Inc is the United States investment bank of Barclays Bank PLC. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation
Authority (Financial Services Register No. 122702). Registered in England Registered No. 1026167. Registered office: 1 Churchill Place, London E14 SHP. Copyright Barclays Bank PLC, 2018 (all rights reserved).
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