Disclaimer: It is important to note that where return objectives are discussed and outlined in this flyer, they are targets only and may not be achievable. It is also possible that when an investment is made, capital investment may be lost. This flyer is for Wholesale Investors only and has been prepared by 347 Darling Pty Ltd, AFSL 491106, ACN 604 854 999, in its capacity as the Trustee and Licensee of the SMATS Protected Yield Fund. 347 Darling Pty Ltd is owned by SMATS Services (Australia) Pty Ltd, ACN 141112807. Neither the Licensee and Trustee, the Investment Manager, nor SMATS Services (Australia) Pty Ltd, their officers or employees, make any representations or warranties, express or implied, as to the accuracy, reliability or completeness, of the information contained in this flyer and nothing contained in this flyer is or shall be relied upon as a promise or representation whether as to the past or the future. Past performance is not a reliable indicator of future performance. All capitalized terms used herein without definition will have the meanings assigned to them in the information memorandum. This information is given in summary form and does not purport to be complete. Information in this flyer should not be considered advice or a recommendation to investors or potential investors in relation to holding purchasing or selling units in the fund and does not take into account your particular investment objectives financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these matters and any relevant offer document and in particular you should seek independent financial advice. For further information and before investing please read the information memorandum available on request.