This disclosure material does not constitute an offer and / or solicitation for the purchase of investment fund shares. L2 Capital may make changes to the content of this document at any time. The information contained in this material is for information purposes only. Investment funds are not guaranteed by the fund administrator, the portfolio manager, any insurance mechanism or, yet, the credit guarantee fund – FGC. The profitability obtained in the past does not guarantee future returns. The returns shown is not net of taxes and exit fees. To assess the fund’s performance, an analysis of at least 12 months is recommended. It is recommended that the investor carefully read the prospectus and offering documents of the investment fund before investing. Hedge funds may be exposed to a significant concentration in assets of a few issuers, with the resulting risks. There is no guarantee that this fund will have tax treatment for long-term funds. This fund invests in other investment funds that uses derivative strategies as an integral part of its investment policy. Such strategies, as they are adopted, may result in equity losses for its shareholders, and may even result in losses higher than the capital invested and the consequent obligation of the shareholder to provide additional funds. Further information about the fund can be obtained through the Fact Sheet, Prospectus and the Fund’s offering documents, available on the administrator’s website, CVM and on the website www.l2capital.com.br.