The performance of the Denarau Direct Mortgage Fund, the rate of return on capital or the return of capital or loan monies advanced by an Investor is not guaranteed by the Trustee, Denarau nor any of their directors or employees. Past performance of the Denarau Direct Mortgage Fund is not indicative of future performance. Investment in the Denarau Direct Mortgage Fund is not a bank deposit.

The interest rate of return on investments are fixed for the term of the mortgage. No investment, mortgage or otherwise, is entirely risk free and in the case of Mortgage Investments there is a risk to both income and capital.

Amongst other things these risks include, late or non-payment by the borrower, default by the borrower, changes in market interest rates generally, decline in the value of the security, and/or inadequate risk management strategies by the investment manager.

The risks and Denarau’s risk management strategy associated with investing in the Denarau Direct Mortgage Fund are addressed in more detail within the Information Memorandum and Syndicate Information Memorandums specific to each Mortgage Investment.

The Information Memorandum and any Syndicate Information Memorandum should be read in their entirety before deciding to invest.

Before registering to become a member of the Denarau Direct Mortgage Fund and invest in any offers made under a Syndicate Information Memorandum, Investors should consider carefully the Information Memorandum and the relevant Syndicate Information Memorandum taking into account their personal circumstances (including financial and taxation issues) and seek professional advice from their accountant, stockbroker, lawyer or other professional adviser before deciding whether to invest. The Information Memorandum and the relevant Syndicate Information Memorandum do not consider an Investor’s personal objectives, financial situation, and particular needs.

Investment in the Denarau Direct Mortgage Fund is only available to Wholesale Investors. Wholesale Investors are wholesale clients as defined in the Corporations Act.

The Denarau Direct Mortgage Fund is an unregistered managed investment scheme under the Corporations Act.

The Denarau Direct Mortgage Fund is governed by a trustee under an Australian Financial Services Licence.

The Trustee has appointed Denarau to administer the Denarau Direct Mortgage Fund and manage each Mortgage Investment for and on behalf of Investors.