é UBS AlphaKeys Millennium Fund, L.L.C. Investor Application Form Investor(s) Please: e Complete the Investor Application Form via UBS Online Services ("OLS") OR return this entire Subscription Booklet to your Financial Advisor. Only fully completed Subscription Booklets (no faxes, no copies) will be accepted. DO NOT TEAR OUT PAGES. Retain a copy for your files Read the Fund's Memorandum and the Subscription Agreement. Please refer to the enclosed Tax Forms and speak to your UBS Financial Advisor. You may not be required to complete these forms if your UBS account has already been designated FATCA- compliant Be sure to complete all sections of the Investor Application Form Financial Advisors/Branch Managers e Effective July 1, 2014, FATCA compliant tax forms are required for clients to execute new investments in all Alternative Investments. Please refer to the enclosed Tax Forms and related submission instructions. e Please refer to the Fund Investment Application ("FIA") QuickCard for application submission instructions, or call UBS Alternative Investments US at 888-962-3842, option 1, sub option 4. e All Investor Applications must be submitted on FIA to UBS Alternative Investments US no later than 4 full business days prior to month's end. CONFIDENTIAL UBSTERRAMARO0001138 EFTA00236793 Private and Confidential

--=PAGE_BREAK=--

Instructions for Completing Investor Application Prospective investors in the AlphaKeys Millennium Fund, L.L.C. (the “Fund") should read the Memorandum as well as this Subscription Booklet prior to subscribing. Please complete all sections of the Investor Application Form. If you invest via OLS please follow the instructions on the OLS system and/or the enclosed informational card. If you invest via this Subscription Booklet please promptly return the entire Subscription Booklet to your Financial Advisor. Do not tear out any pages. Retain a copy for your files Please refer to Schedule 2 for the meanings of the capitalized terms used herein Please consult your Financial Advisor or call UBS Alternative Investments US for assistance in completing this Investor Application Form. A. Capital Contribution Amount: e Indicate the Capital Contribution applied for (which may be accepted in whole or in part by UBSFA) e Provide your Account Number e Funds must be drawn on an account that corresponds exactly to the name of Undersigned. UBSFA may in its sole and absolute discretion accept as your Capital Contribution an amount less than the Capital Contribution applied for herein. CLEARED FUNDS MUST BE IN YOUR ACCOUNT 5 BUSINESS DAYS PRIOR TO MONTH'S END. B. Investor Information: e Provide the Investor's mailing address exactly as it should appear on the address labels. e Include the Investor's state of residence or principal place of business, if applicable, and Social Security/Tax ID Number e Provide the Investor’s email address Cc. Accredited Investor Representation: Please read Schedule 1 and check the appropriate box. Generally, an “accredited investor” has a net worth in excess of $1 million for individuals (together with spouse) or total assets in excess of $5 million for entities. To calculate net worth, exclude the value of your primary residence, and count as a liability any indebtedness secured by that property in excess of the fair market value of that property. If you incurred the debt on your property within 60 days of subscribing for this investment and did not use those funds to purchase that house, you must include the full value of the debt as part of your liabilities, The Investor must certify that he, she or it is both an accredited investor and a qualified purchaser in order to invest in the Fund, unless otherwise determined by UBSFA Private and Confidential 2 CONFIDENTIAL UBSTERRAMARO0001139 EFTA00236794

--=PAGE_BREAK=--

Instructions for Completing Investor Application (continued) D. Qualified Purchaser Representation: Please read Schedule 1 and check the appropriate boxes. Generally, a "qualified purchaser” must be an individual or beneficiary of an IRA- or participant-directed plan or family trust/entity with at least $5 million in qualified investments or an entity with at least $25 million in qualified investments. The Undersigned must certify that he, she or it is both an accredited investor and a qualified purchaser in order to invest in the Fund E. Benefit Plan Investor Status: Please read carefully and check the appropriate box F. Controlling Person Status: Please read carefully and check the appropriate box G. Certification Regarding Initial Public Equity Offerings: Please initial and complete all applicable sections. H. Government Entity Status: Please read carefully and check the appropriate box(es) I. NFA Bylaw 1101 Certification Please read carefully and initial the applicable acknowledgement(s). J. Investor Acknowledgement: Please read the acknowledgements contained in this section carefully, initial the applicable acknowledgements and complete the applicable certification(s) K. Investor Signatures: Please sign P| Private and Confidential 3 CONFIDENTIAL UBSTERRAMARO0001140 EFTA00236795

--=PAGE_BREAK=--

Schedule 1 PLEASE REFER TO THE REPRESENTATIONS BELOW IN ORDER TO COMPLETE THE INVESTOR TYPE, ACCREDITED INVESTOR AND QUALIFIED PURCHASER REPRESENTATION QUESTIONS OF THE INVESTOR APPLICATION FORM. ACCREDITED INVESTOR STATUS AND QUALIFIED PURCHASER STATUS The Undersigned must certify that he, she or it is an accredited investor and a qualified purchaser based on the categories listed below. ACCREDITED INVESTOR STATUS |. Individuals, Joint Tenants and IRAs The Undersigned, either individually or together with the Undersigned's spouse, has a net worth*® in excess of $1 million i. Trusts (a) The trust has (i) total assets in excess of $5 million, (ii) it was not formed for the specific purpose of investing in the Fund, and (iii) its investment in the Fund is directed by a person who has such knowledge and experience in financial and business matters that he or she is capable of evaluating the merits and risks of an investment in the Fund; or (b) Each Grantor of the trust has the power to revoke the trust and regain title to the trust assets, and each grantor is an accredited investor; or (c) The trustee of the trust is a “bank* as defined in Section 3(a2) of the Securities Act or a savings and loan association or other institution referred to in Section 3(a)(5)(A) of the Securities Act Wl. Retirement Plans (a) The plan has total assets in excess of $5 million; or (b) Each participant in the plan is an accredited investor; or (¢} The plan is participant directed, with investment decisions made solely by persons who are accredited investors; or (d) Investment decisions for the plan are made by a “plan fiduciary” as defined in Section 3(21) of ERISA that is a bank, insurance company, registered investment adviser or savings and loan association ld YA Vi/ AAV VE CONFIDENTIAL | IV. Corporations, Partnerships, Limited Liability Companies and Other Entities (a) The Undersigned is @ corporation, partnership, limited liability company, Massachusetts or similar business trust, or an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code"), not formed for the specific purpose of investing in the Fund, with total assets in excess of $5 million; or (b) Each shareholder, partner, or other equity owner of the Undersigned, as the case might be, is an accredited investor; or (c) The Undersigned is a “bank" as defined in Section 3(a)(2) of the Securities Act or a “savings and loan association” or other institution referred to in Section 3laX5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity; or (d) The Undersigned is a “broker or dealer" registered pursuant to Section 15 of the Securities Exchange Act; or (e) The Undersigned is an “insurance company” as defined in Section 2(a)(13) of the Securities Act; or (f) The Undersigned is an “investment company" registered under the Investment Company Act; or (g) The Undersigned is a “small business investment company" licensed by the U.S Small Business Administration under Section (301)(c) or (d) of the Small Business Investment Act; or (h) The Undersigned is a “business development company" as defined in Section 2(a)(48) of the Investment Company Act or a "business development company" defined in Section 202(aX22) of the Investment Advisers Act Note for Accredited Investor Status: * — The term net worth means total assets at fair market value minus total liabilities. To calculate net worth: (i) exclude the fair market value of your primary residence; (ii) count as a liability any indebtedness secured by that property in excess of the fair market value of that property, except that if you incurred that debt on your property within 60 days of subscribing for this investment and did not use those funds to purchase that house, you must include the full value of the debt as part of your liabilities QUALIFIED PURCHASER STATUS V. Individuals, Joint Tenants and IRAs (as applicable) The Undersigned is a qualified purchaser because he/she (alone, or together with his/her spouse, if investing jointly) owns not less than $5 million in investments. ** VI. “Family* Corporations, “Family” Foundations, "Family" Endowments, “Family” Partnerships, “Family” Trusts or other “Family” Entities (a) The Undersigned was not formed for the specific purpose of investing in the Fund; (b) The Undersigned owns not less than $5 million in investments; ** and (c) The Undersigned is owned directly or indirectly by or for (i) two or more natural persons who are (A) related as siblings or spouses (including former spouses), or (B) direct lineal descendants by birth or adoption, (ii) spouses of such persons, (iii) the estates of such persons or (iv) foundations, charitable organizations or trusts established by or for the benefit of such persons. Vil. Trusts (Other than Trusts that qualify under VI or VIII hereof) (a) The Undersigned was not formed for the specific purpose of investing in the Fund; and (b) The trustee or other authorized person making decisions with respect to the trust, and each Settlor or other person who has contributed assets to the trust, is a person described in V, VI, Vill or IX Vill. Other Entities (a) The Undersigned was not formed for the specific purpose of investing in the Fund; and (b) The Undersigned is an entity, acting for its own account or for the accounts of other qualified purchasers, which in the aggregate owns and invests on a discretionary basis, not less than $25 million in investments. ** Private and Confidential 4 UBSTERRAMARO0001141 EFTA00236796

--=PAGE_BREAK=--

Schedule 1 (continued) QUALIFIED PURCHASER STATUS (Samm) IX. Entities that do not qualify under VI-ViL The Undersigned is a qualified purchaser because each beneficial owner of the Investor's securities is @ qualified purchaser as described herein Note: Trusts may not rely on this certification even if all of their beneficiaries are qualified purchasers. X. All Investors that are Entities (a) The Undersigned is not a 3(c){1) or 3cN7) Company; or (b) The Undersigned is a Section 3{c)(1) or 3(c)\(7) Company but does not have ANY Pre-April 30 Holders; or (c}_ The Undersigned is a Section 3(¢)(1) or 3{c(7) Company and has obtained consent to its treatment as a qualified purchaser from all of its Pre-April 30 Holders. XL. Investors that checked VI or Vil may check XI instead of X The Undersigned has obtained consent to its treatment as a qualified purchaser from all of its trustees, directors or general partners. CONFIDENTIAL XII. Investors that checked X(b) or X(c) must also respond YES or NO to XII ls any direct or indirect beneficial owner of the Undersigned itself a Section 3{c)(1) or 3(c)(7) Company that controls, is controlled by, of is under common control with the Undersigned? If the Undersigned cannot answer NO to XII because it has a control relationship with a beneficial owner that is itself a Section 3(c1) or 3{c)(7) Company, the Undersigned may be required to obtain consent from the security holders of such owner Notes for Qualified Purchaser Status: ** The term “investments” means any or all (1) securities (as defined in the Securities Act), except for Control Securities unless otherwise included as described below; (2) futures contracts or options thereon held for investment purposes; (3) physical commodities held for investment purposes; (4) Swaps and other similar financial contracts entered into for investment purpose; (5) real estate held for investment purposes; and (6) cash and cash equivalents held for investment purposes Control Securities may be included in “investments” if (A) the issuer of the Control Securities is itself a registered or private investment company or is exempted from the definition of investment company by Rule 3a-6 or Rule 3a-7 under the Investment Company Act, (B) the Control Securities represent securities of an issuer that files reports pursuant to Section 13 or 15(d) of the Securities Exchange Act, (C) the issuer of the Control Securities has a class of securities listed on a designated off-shore securities market under Regulation S under the Securities Act or (D) the issuer of the Control Securities is a private company with shareholders’ equity not less than $50 million determined in accordance with generally accepted accounting principles, as feflected in the company’s most recent financial statements (provided such financial statements were issued within 16 months of the date of Undersigned's purchase of Interests) NOTE: In determining whether the $5 million of $25 million thresholds are met, investments can be valued at cost or fair market value as of a recent date. if investments have been acquired with indebtedness, the amount of the indebtedness must be deducted in determining whether the threshold has been met Private and Confidential UBSTERRAMARO0001142 EFTA00236797

--=PAGE_BREAK=--

Investor Application Form A. Capital Contribution Applied for: $ Note: Your account will be debited for your Capital Contribution plus the Placement Fee of 2% (which may be waived in limited circumstances). A Placement Fee will be in addition to your Capital Contribution. Please see the Investor Acknowledgement section for additional information regarding the Placement Fee. Subscriptions will only be accepted in U.S. Dollars, Account #: [LT] [TL ) Funds currently available B. Investor Information: sswrxid: [TTT TT TTT) tei Resaece Pca Rte Pore TTT) LLU | (TT) CLT) CLL Mr Mrs. Ms. Miss; Dr ther 2 Soe Address: itt ptt tt Lt tt tt an Pty | Eann | | | Attention aa | (Name:) | | | | | E-mail: Cc. Accredited Investor Representation Check only one box. By executing this Investor Application, the Undersigned certifies that he, she, or it (as applicable) (i) has read and understands the instructions to this Investor Application including, but not limited to, the instructions to calculate the net worth for accredited investors; and (ii) is a “accredited investor" under Regulation D (generally, net worth in excess of $1 million for individuals (together with spouse) or total assets in excess of $5 million for entities) and has calculated net worth as required by the instructions in this Investor Application. Please read Schedule 1 and check one appropriate box below. Note that you must be both an accredited investor and a qualified purchaser in order to invest in the Fund. If Investor ts an IndividualARA/Joint Tenant ow (with Rights of Survivorship), check here: If Investor is a Revocable Trust, check here O (hac O (bor DO (ic If Investor is an Irrevocable Trust, check here: O (hace O (ie If Investor is a Participant-Directed Retirement Plan, check here: D illic If Investor ts Other Retirement Plan, check here: O (iieor O (iibor O (iid If Investor is a Corporation, Partnership, Limited Liability Company and Other Entity, O (Mao O (Vibor O (iVeor O (Vidor O (Ve or O (Vif or O (IV)gor OllV)h dc re a sn tet 6 CONFIDENTIAL UBSTERRAMAR0O0001143 EFTA00236798

--=PAGE_BREAK=--

Investor Application Form (continued) D. Qualified Purchaser Representation: The Undersigned is a “qualified purchaser’ under the Investment Company Act (generally, individuals, beneficiaries of IRA/participant-directed plans, and family/trust entities must own at least $5 million or more in qualified investments and entities must own and invest at least $25 million in qualified investments). The Undersigned must certify that he, she or it is both an accredited investor and a qualified purchaser in order to invest in the Fund. Please read Schedule 1 and check the appropriate boxes. Trust entities should read carefully the specific “qualified purchaser” fequirements on Schedule 1, including the requirement (for trusts other than trusts relying on certifications in VI and Vill) that both the trustee (or other authorized person making decisions with respect to the trust) and each Settlor or other person who has contributed assets to the trust must own at least $5 million in qualified investments. The Undersigned's execution of this Investor Application constitutes certification of the Undersigned’s status as a * qualified purchaser, * If Investor ts an Individual or IRA- of Participant-Directed ow) Retirement Plan, check here: If Investor is a “Family” Corporation, “f . “andl: Exdoumant O (ia, b and c AND Oa OMbtor OlXeto OX) “Family” Partnerships, “Family” Trusts or Other “Family” Entities, check here If Investor is a Trust (other than a Trust that qualifies under VI or O (Villa andb AND O aor O (Xb* or O (Xc* or O (x) Vill), check here: If Investor is another type of O (Vila and b AND O aor O (Xb* or O (Xk* or O (x) Entity, check here: If Investor is an Entity that does i not qualify under VI-VIll, check 0 ip AND O aor O Xb‘ of O (Xe* of D (x) here. *Investors that checked Xb) *If you checked (X)b or (X)c above, or Xic) must also respond CHECK YES OR NO BELOW YES or NO to item Xil O YES or O NO E. Benefit Plan Investor Status: Please certify, by checking the appropriate box below, whether the Investor is or will be described in any of the following categories: (1) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject to ERISA; (2) a “plan” (as defined in Section 4975e)(1) of the Code) that is subject to Section 4975 of the Code; or (3) an entity which is deemed to be a “benefit plan investor” or to hold “plan assets” under the Plan Assets Rules by reason of equity investments in such entity by one or more persons described in clause (1) or (2) above. Examples of the foregoing include, among other things, "Keogh" plans, other tax-qualified retirement plans, IRAs, certain other types of employee benefit plans (and accounts) and entities that are deemed to hold “plan assets” thereof Check one O YEsor ONO F. Controlling Person Status: Please certify, by checking the appropriate box below, whether the Investor is or will be described in any of the following categories: (i) a person of entity that has discretionary authority or control with respect to the assets of the Fund; (i) a person or entity that provides investment advice for a fee (direct or indirect) with respect to the assets of the Fund; or (iii) an “affiliate” of a person or entity described in clause (i) or (ii) above. For purposes of this representation, an “ affiliate" of a person or entity includes any person or entity controlling, controlled by or under common control with the person or entity, including by reason of having the power to exercise a controlling influence over the management or policies of the person or entity. Check one O Yes or ONO Private and Confidential CONFIDENTIAL UBSTERRAMARO0001144 EFTA00236799

--=PAGE_BREAK=--

Investor Application Form (continued) G. Certification Regarding Initial Public Equity Offerings: Rule 5130 “Restricted Persons” The Fund may elect not to invest in new issues even if your individual account is eligible for such transactions Please initial the appropriate statement. The Undersigned has initialed those statements below which apply to it or, if the Undersigned is a corporation, partnership, trust or other entity, which apply to any person having a Beneficial Interest in the Undersigned The Investor is any of the following: (a) A FINRA member firm or other broker dealer (b) An officer, director, general partner, associated person or employee of a FINRA member firm or other Covered Broker Dealer; (c) An agent of a Covered Broker Dealer if the agent is engaged in the investment banking or securities business; (d) An Immediate Family Member of a person specified in (b) or (c) above; (e) A finder or other person acting in a fiduciary capacity to a Covered Broker Dealer, including attorneys, accountants and financial consultants; (f} A person who has the authority to buy or sell securities for a bank, savings and loan institution, insurance company, investment company, investment adviser or Collective Investment Account; (g) An Immediate Family Member of a person specified in (e) or (f) above who receives from or provides to such person Material Support; (h) A person listed (or required to be listed) in Schedule A or Schedule C to Form BD as owning 10% or more of a Covered Broker Dealer; (i) A person listed (or required to be listed) in Schedule B or Schedule C of Form BD whose ownership interest is in a person listed in (h); A person that owns directly or indirectly 10% or more of a public reporting company listed (or required to be listed) in Schedule A of Form 8D with respect to a Covered Broker Dealer, other than a public company that is listed on a national securities exchange; (k) A person that owns directly or indirectly 25% or more of a public reporting company that is a person listed in (i) above other than a public company that is listed on a national securities exchange; () An Immediate Family Member of a person listed in (h) through (k) above who receives from or provides to such person Material Support; (m) An account (including a corporation, partnership, limited liability company, trust or other entity) in which any of the persons teferred to in (a) through (|) above has a Beneficial Interest (any person in (a) through (m), a “5130 Restricted Person”). The Investor is none of the above For Entities only: If you initialed any of items (a) through (m) above, you may still be eligible to participate in “new issues” if you satisfy one of the exemptions listed under “New Issues Exemptions" at the back of the Subscription Agreement. If so, please specify the exemption number (1 through 10) here (exemption 1(b) is not available): NOTE: Exemptions are not applicable for individual retirement accounts, individual or joint accounts, UGMA or UTMA accounts, which are treated as natural persons for this purpose. Private and Confidential 8 CONFIDENTIAL UBSTERRAMARO0001145 EFTA00236800

--=PAGE_BREAK=--

Investor Application Form (continued) G. Certification Regarding Initial Public Equity Offerings (a): Rule 5131 “Covered Persons” (1) Please initial below if applicable or if the Investor is a corporation, partnership, trust or other entity, which apply to any person having a Beneficial Interest in the Investor The Investor, or any person having a Beneficial Interest in the Investor, is (i) an executive officer or director of a Public Company or a Covered Non-Public Company, or (ii) a person receiving Material Support by an executive officer or director of a Public Company or a Covered Non-Public Company (any person in (i) or (ii), a “5131 Covered Person") (2) If you initialed statement (1) above, you must name each relevant Public Company and/or Covered Non-Public Company: (3) If you initialed statement (1) above, please initial the following only if such applicable Public Company or Covered Non-Public Company: (a) is currently a chent receiving Investment Banking Services provided by a FINRA member, or has paid compensation to a FINRA member for Investment Banking Services in the past 12 months; (b) expects to retain a FINRA member for Investment Banking Services within the next 3 months; or (c) has entered into an express or implied obligation, directly or indirectly through its executive officers or directors, to retain a FINRA member for the performance of future Investment Banking Services If you initialed any of items (a) through (c) above, you may still be eligible to participate in “new issues” if you satisfy one of the exemptions listed under "New Issues Exemptions" at the back of the Subscription Agreement. If so, please specify the exemption number here (exemption 1(a) is not available): If the Investor has represented that he, she or it is not a “Restricted Person” or a “Covered Person”, the Investor further represents that he, she or it understands that this certificate expires after one year and agrees promptly to notify the Fund should the account become a “Restricted Person” or “Covered Person”. H. Government Entity Status (i) Is the Investor a Government Entity? O Yes 0 No (ii) If the Investor is acting as agent, representative or nominee for one or more investors, is any of such investors a Government Entity? O Yes 0 No (ii) If the answer to question (ii) is "Yes", please indicate the names of any such investor Private and Confidential 9 CONFIDENTIAL UBSTERRAMARO0001146 EFTA00236801

--=PAGE_BREAK=--

Investor Application Form (continued) |. NFA Bylaw 1101 Certification (Please initial as appropriate.) Individual, IRA and Foundation Investors: (a) The Investor represents and warrants that it is an individual, IRA or a foundation and that it is not required to be a member of the National Futures Association (“NFA”) or to be registered with the Commodity Futures Trading Commission ("CFTC") in any capacity. (Please continue on to Section J. Investor Acknowledgement) OR All Other Entity Investors: (b) The Investor (or, if the Investor is a commodity pool, the operator thereof) represents and warrants it is not required to be a member of the NFA or to be registered with the CFTC in any capacity. (Please note, while not always the case, generally, certain private investment vehicles such as single member limited liability companies and certain limited partnerships comprised of family members, among others, should initial this section and below if applicable.) If the Investor is a fund or another investment entity and initialed iter (b) above, please complete the following: The Investor is a family investment vehicle whose participants include only spouses, children, in-laws, grandparents and cousins, or the Investor is a family office and has filed a notice with the CFTC under No-Action Letter 12-37 The Investor relies upon an exemption from registration under CFTC Rule 4.13 and has filed a notice claiming this exemption with the NFA. The Investor relies upon an exclusion from the definition of the term “commodity pool operator” under CFTC Rule 4.5 and has filed a notice claiming this exemption with the NFA. The Investor is a noncontributory plan, a contributory defined benefit plan', a governmental plan, an employee welfare benefit plan, or a church plan covered under the Employee Retirement Income Security Act of 1974. The Investor relies upon another exemption or otherwise is not required to register with the CFTC (please indicate below the applicable exemption upon which the Investor relies or indicate the basis upon which the Investor has determined that registration or an exemption is not required). OR Entities that are NFA Members and/or those required to register with the CFTC: (c) The Investor (or, if the Investor is a commodity pool, the operator thereof) represents and warrants that it is a member of the NFA and is registered with the CFTC Please indicate below the capacity in which the Investor (or the operator thereof) is registered (commodity poo! operator, commodity trading advisor, futures commission merchant, introducing broker, or retail foreign exchange dealer) b plan, to which an.employee may voluntarily contribute, no portion of an employee's contribution is committed as margin options cortiadts: | Private and Confidential 10 CONFIDENTIAL UBSTERRAMARO0001147 EFTA00236802

--=PAGE_BREAK=--

Investor Application Form (continued) J. Investor Acknowledgement: The Undersigned should consult its own U.S. tax advisor if it is uncertain as to whether it is a “United States person” for purposes of U.S. federal income taxation. (a) The Undersigned represents that he, she or it is a “United States person” (as such term is defined in the Code) for purposes of U.S. federal income taxation and has provided to UBS a valid and duly ——_ —_— completed Form W-9, or successor form thereto, signed under penalties of perjury by such Of jor tenants both may be Undersigned. The Undersigned certifies under penalties of perjury that (A) its U.S. taxpayer required to initial identification number, as it appears in the Investor Application Form in this Subscription Booklet, is true and correct and (B) it is NOT subject to backup withholding because either (1) it is exempt from backup withholding, (2) it has not been notified by the U.S. Internal Revenue Service (“IRS”) that it is subject to backup withholding as a result of a failure to report all interest or dividends, or (3) the IRS has notified it that it is no longer subject to backup withholding. The Undersigned will notify the Fund within 15 days if any of the above certifications are no longer valid. Upon request by the Fund or UBSFA, the Undersigned shall promptly furnish to the Fund valid and duly completed Form W-9, or successor form thereto, signed under penalties of perjury by such Undersigned. (by The Undersigned has reviewed and confirmed all of the information in the Investor Application and confirms initial Initial that all of the information that is required to be provided by the Undersigned in this Investor Application is Hf joint tenants, both maybe —trye, accurate and complete in all respects. required to initial (c) The Undersigned represents that he, she or it has received, carefully read and will be bound by the Agreements, including the pre-dispute arbitration clause which appears in the Subscription Agreement and the Fund Agreement, and agrees that signing below constitutes the execution and receipt of the Agreements. (d) The Undersigned represents that he, she or it has received a copy of the Memorandum, has read it and understands it, and the Undersigned is aware of the Fund's limited provisions on transferability and withdrawal; he, she or it understands that an investment in the Fund involves conflicts of interest, including that the Placement Agent and its affiliates will receive payments from the Investors, the Fund and/or their affiliates based upon the aggregate amount of capital contributions to the Fund. (e) The Undersigned confirms that the investment objective and risk profile applicable to the investment in this Fund are respectively, “capital appreciation” and “aggressive.* This objective and risk profile is applicable only to this investment and may differ from the investment goals and risk tolerance for the overall portfolio and the brokerage account in which this investment is held (f) The Undersigned understands that an investment in the Fund may impact the Undersigned's future liquidity (either long or short-term) and fepresents that the Undersigned’s investment goals are consistent with the time frame of the investment. (g) The Undersigned hereby authorizes the debit of funds for the Capital Contribution, plus any applicable Placement Fee, and any applicable amount required to satisfy a tax obligation of the Fund (h) The Undersigned understands that UBSFA may in its sole and absolute discretion accept as your Capital Contribution an amount less than the Capital Contribution applied for herein (i) The Undersigned certifies that the United States is his, her or its country of residence or principal initial initial place of business. (If Undersigned cannot make this certification, please talk to your Financial Moin tenants, both may be required Advisor about whether you may invest in the Fund.) i () The Undersigned acknowledges that a Placement Fee of 2% of the Capital Contribution will be Initial Initial charged if the Undersigned invests through a brokerage account. However, in limited If joint tenants, both may be required circumstances the Placement Fee may be waived by the Placement Agent. This Placement Fee is to initial | in addition to, and will not reduce, the Undersigned's Capital Contribution. If the Placement Fee is reduced by agreement between the Placement Agent and the Undersigned, then the teduced Placement Fee to which the Undersigned has agreed will be reflected on the UBS trade confirmation, The Undersigned confirms that the Placement Fee has been discussed with hi/her/its Financial Advisor and any additional questions will be addressed if requested. No Placement Fee is charged if this investment is made through a UBS advisory program Private and Confidential W CONFIDENTIAL UBSTERRAMARO0001148 EFTA00236803

--=PAGE_BREAK=--

Investor Application Form (continued) J. Investor Acknowledgement (ggg): (k) FOR GRANTOR TRUSTS ONLY: If the Undersigned is a grantor trust, the Undersigned acknowledges that any and all grantors of the trust are U.S. persons for U.S. federal income tax purposes (please note: grantor trusts with non-U,S. persons as grantors may not invest in this Fund) K. Investor Signatures: Please sign below. Please note that signing below constitutes your signature to the Investor Application Form, the Subscription Agreement and the Fund Agreement in accordance with their terms Signature Date Additional Investor Signature (e.g.. joint tenants Date Print Name Print Name of Additional Investor MAKE SURE YOU HAVE COMPLETED ALL APPLICABLE SECTIONS OF THIS INVESTOR APPLICATION FORM. Private and Confidential 12 CONFIDENTIAL UBSTERRAMARO0001149 EFTA00236804

--=PAGE_BREAK=--

For Financial Advisors All Investor Applications must be submitted on FIA to UBS Alternative Investments US no later than 4 full business days prior to month's end. 1. Investor Suitability and NFA Bylaw 1101: With regard to the proposed investment of the aforementioned client in the Fund, |, as Financial Advisor to the client, by signing below, certify that | have: (1) _ informed the dient of all pertinent facts relating to the liquidity and transferability of the Fund, including the obligation to maintain sufficient liquidity to meet ongoing capital calls (if the Fund has a capital call structure) on potentially short notice and that the investment may impact the client's future liquidity; (2) reasonable grounds to believe (on the basis of information obtained from the client concerning the client's age, investment objectives, investment experience, income, net worth, financial situation and needs, other investments and any other information known by me, including the attached CA\) that: (a) the Fund being subscribed for is suitable and appropriate for the client; (b) the client meets all applicable minimum income, net worth, liquid assets and other objective suitability standards; (c) the client can reasonably benefit (including realizing any intended tax benefit, if applicable} from the Fund based on the client's financial position, overall investment objectives and portfolio structure; (d)} the chent can bear the economic risks of the investment in the Fund; (e) the client's goals are consistent with the time frame of the investment; and (f) the client appears to have an understanding of (i) the fundamental risks of the Fund (including that the client may lose his or her entire investment); (ii) the restrictions on the liquidity and transferability of the Fund; (iii) the background and qualifications of the sponsors) and investment managers) of the Fund; and (iv) the tax consequences with respect to an investment in the Fund; (3) obtained a valid and duly completed Form W-9 or W-8, as applicable, or successor form thereto, signed under penalties of perjury by the client and | have properly placed such form on file pursuant to internal UBS policy; and (4) confirmed, with reasonable due inquiry, the client's representations provided in Section |. NFA Bylaw 1101 Certification (if applicable), Regarding Item 2(b) above, in the event that the client is an entity (such as a trust or partnership) that does not itself meet the minimum investment requirements (such as net worth) | have ascertained from the appropriate parties (such as the client's trustee or general partner) that all of the client's beneficial owners meet such requirements. Will this investment result in the client holding more than 30% of his net worth as evidenced on CAI in Alternative Investments? O Yes ONo If | assisted the client in completing any information that is required to be provided by the client in the Investor Application, | have done so pursuant to the client's authorization and direction solely based upon information that has been provided to Initial me by the client. If | did not assist the client in completing any information in the Investor Application, | certify that | have reviewed the completed Investor Application Form, and | agree that all the information in connection with the client's investment in the Fund that is provided by the client is correct and accurate I. Investor Qualification for Offshore Fund offerings only: | have reviewed the “Country Qualifications” appendix to the Memorandum or Subscription Agreement and in any applicable supplement to the Memorandum or set forth in the instructions on the UBS intranet, and | certify that | have reasonable grounds to believe that the client is qualified, under the law of its country of residence, as described therein, to invest in the Fund Wl. Financial Advisor Signature (Please Sign Below): Print Name of Financial Advisor Account # Financial Advisor Signature: Placement Fee: (Fee will be charged in addition to Capital Contribution.) Date: (MUST BE COMPLETED) Note: ff instructed, the CAI Statement that accompanies this form must be Branch Code/FA #/Division: dated before or the same day this application is signed. Financial Advisors must reconcile the information listed on this Financial Advisor Telephone # application with the dient's account records, including updating the client's net worth, objectives and any other relevant information. — Financial Advisor E-mail Address: ur Branch Manager signs the following page. VIAAVVELE Private and Confidential 13 CONFIDENTIAL UBSTERRAMAR0O0001150 EFTA00236805

--=PAGE_BREAK=--

For Branch Managers IV. Branch Manager Signature: | certify that | have reviewed the completed Investor Suitability and Investor Qualifications sections above, the client Investor Application Form and CAI, and if applicable, the "Country Qualifications” appendix to the Memorandum or the Subscription Agreement and any applicable supplement thereto or set forth in the instructions on the UBS intranet and | agree, based upon the information known to me, with the Financial Advisor's determination that the investment being subscribed for is suitable and appropriate for the client. | agree that, if the Financial Advisor assisted the client in completing any information that is required to be provided by the client in the Investor Application, based upon information known to me, that the Financial Advisor has done so pursuant to the client's authorization and direction solely based upon information that has been provided to the Financial Advisor by the client By signing below, if applicable, | have determined that (1) if the proposed investment is for an Access Person's (as defined in the Investment Adviser Code of Ethics) employee or employee-related account, my signature evidences my pre-approval of the trade and that (2) the Access Person's proposed investment: a) will not unfairly limit the ability of eligible clients of UBS Financial Services Inc. (“the Firm") to participate in the proposed investment and (b) does not present a material conflict with the interests of the Firm's clients or the Firm Print Name of Branch Manager Branch Manager Signature: Date: (MUST BE COMPLETED) If the above named account is a UBS Financial Services IRA, then the Note: if instructed, the CAI Statement that accompanies this form Branch Manager, as a result, also signs as the custodian of the IRA must be dated before or the same day this application is signed. and accepts and agrees to this subscription. PLACEMENT FEE APPROVAL SECTION — THIS SECTION IS ONLY REQUIRED IF A REDUCED PLACEMENT FEE IS CHARGED To be completed by Complex Director or Complex Admin Manager as Delegate (if necessary) By signing below you have agreed and accepted the reduced placement fee above in section lll lf you do not agree to the reduced placement fee, please inform the branch who is responsible for contacting Al Investor Service. Call Al Investor Services (800) 580-2359 option #1 for questions. Print Name of Complex Director Complex Director Signature Date: (MUST BE COMPLETED) . Private and Confidential 14 CONFIDENTIAL UBSTERRAMARO0001151 EFTA00236806

--=PAGE_BREAK=--

Subscription Agreement The Undersigned wishes to become an Investor in the Fund, and to purchase an Interest in the Fund upon the terms and conditions set forth herein and in the Memorandum and the Fund Agreement Accordingly, the Undersigned hereby agrees as follows. 1, APPLICATION FOR AN INTEREST (A) The Undersigned agrees to become an Investor, and in connection therewith, subscribes for and to purchase an Interest in and to make a Capital Contribution to the Fund Payment (as defined in Schedule 2) must be received prior to the Closing established by the Fund for the subscription Any placement fee is in addition to the minimum initial subscription. The Fund may vary the minimum initial subscription from time to time (B) The Undersigned understands and agrees that the Fund reserves the right to reject this subscription for an Interest for any reason or no reason, in whole or in part, and at any time prior to his, her or its acceptance. If the subscription is rejected, the Payment and any Placement Fee paid by the Undersigned, with or without interest, as applicable, will be retumed promptly to the Undersigned and this Investor Application shall have no force or effect Upon acceptance of this Investor Application by the Fund, the Undersigned shall becorne an Investor in the Fund. Admission of the Undersigned as an Investor will occur only upon the Closing (C) The Undersigned acknowledges and agrees that, except as may be provided under applicable state securities laws, the Undersigned is not entitled to cancel, terminate or revoke this Investor Application or any agreements or the power of attorney of the Undersigned hereunder and this investor Application and such agreements and power of attorney shall survive (i) any changes in the transaction documents and instruments from the description thereof in the Memorandum which in the aggregate are not materia or which are contemplated by the Memorandum and (ii) the subsequent death, disability, incapacity, incompetence, termination, bankruptcy, insolvency or dissolution (as applicable) of the Undersigned, provided that if the Fund does not accept this Investor Application on or before the Closing, this Investor Application, all agreements and the power of attorney of the Undersigned thereunder shall be cancelled and this Investor Application will be returned to the Undersigned (D) The Undersigned agrees to provide UBSFA, the Fund and/or the Placement Agent such additional information, documentation and/or representations as UBSFA, the Fund and/or the Placement Agent may request in order to comply with any provision of Sections 1471 through 1474 of the Code and any guidance issued thereunder. The Undersigned understands that such information, documentation and/or representations may be disclosed to the Internal Revenue Service or other Third Parties, as appropriate, by the Fund IL. REPRESENTATIONS AND COVENANTS The Undersigned makes the following representations, declarations and warranties with the intent that the same be relied upon in determining the suitability of the Undersigned as an Investor, compliance by the Fund with federa and state securities laws or the tax status of the Fund. Such representations, declarations, warranties and agreements shall survive the date of Closing and shall be deemed to be reaffirmed by the Undersigned at each time that the Undersigned makes an additional Capital Contribution to the Fund. The act of making any such additional Capital Contribution shall be evidence of such reaffirmation (A) The Undersigned will not sell or otherwise transfer Act, or an exemption therefrom. The Undersigned is ased by the Undersigned CONFIDENTIAL Purposes only and not with a view toward distributing or reselling such interests in whole or in part. The Undersigned understands and agrees that he, she or it must bear the economic risk of his, her or its investment for an indefinite period of time (subject to limited nights of transfer provided in the Fund Agreement) because, among other reasons, the Interest has not been registered under the Securities Act or under the securities laws of certain states and, therefore, cannot be resold, pledged, assigned or otherwise disposed of unless it is so registered or an exemption from registration is available. The Undersigned understands that the Fund is under no obligation to register the Interest on his, her or its behalf or to assist him, her or it in complying with any exemption from registration under the Securities Act. He, she or it also understands that sales or transfers of the Interest are further restricted by the Fund Agreement and state securities laws. {B) The Undersigned has not reproduced, duplicated or delivered in whole or in part, and will not reproduce, duplicate or deliver in whole or in part, the Memorandum, the Fund Agreement or this Investor Application Form to any other person or entity, except to the Undersigned’s professional advisers or as expressly instructed or permitted by UBSFA, (C) The Undersigned has received, carefully read and understands the Fund Agreement and the Memorandum, including, without limitation, the sections of the Memorandum entitled “Risk Factors” and “Potential Conflicts of interest" and the sections or provisions outlining, among other things, the organization and investment objective and policies of, and the risks and expenses of an investment in, the Fund. The Uindersigned acknowledges that in making a decision to subscribe for an interest, the Undersigned has relied solely upon the Memorandum, the Fund Agreement and independent investigations made by the Undersigned The Undersigned's investment in the Fund is consistent with the investment purposes, objectives, and cash-flow requirements and need for diversification and liquidity of the Undersigned. The aggregate amount of all investments of the Undersigned that are illiquid (including commitments for any such investments and taking into account his, her or its investment in the Fund) i reasonable in relation to the Undersigned’s net worth {D} The Undersigned has been provided an Opportunity to obtain any additional information concerning the offering of the Interests, the Fund and all other information, in each case to the extent the Fund and UBSFA, or the Placement Agent, possesses such information of can acquire it without unreasonable effort or expense, and has been given the opportunity to ask questions of, and receive answers from, UBSFA conceming the terms and conditions of the offering and other matters pertaining to this investment. In making his, her or its decision to purchase the interest, the Undersigned has relied solely upon his, her or its own independent investigations. The Undersigned is not relying on the Fund, UBSFA or the Placement Agent, or any other person or entity with respect to the legal, tax and other economic considerations involved in his, her or its investment in the Fund. (E) The Undersigned understands and acknowledges that the Undersigned must bear the economic risk of his, her ce its investment in the Fund for so long as he, she or it is invested in the Fund. The Undersigned is aware of the limited provisions for transferability. The Undersigned has no current need for liquidity in his, her or its investment in the Fund, can afford a complete loss of his, her or its investment in the Fund and can afford to hold his, her or its interest for an indefinite period of time (F) The Undersigned acknowledges that (i) The offering and sale of the interests has not been and will not be registered under the Securities Act, and is being made in reliance upon U.S. federal and TAX OVEL om mee oon mt es public offering, and the Undersigned is an “accredited investor” (as defined in Regulation D); (ii) The Fund will not be registered as an investment company under the Investment Company Act, and the Undersigned is a “qualified purchaser” (as defined under Section 2(a)(51) of the Investment Company Act) The Undersigned represents that, unless otherwise disclosed to UBSFA, he, she or it was not formed for the purpose of investing in the Fund and will not invest more than 40% of his, her or its total assets in the Fund. If the Investor was formed for the purpose of investing in the Fund, or more than 40% of its assets will be invested in the Fund, the Undersigned represents that each beneficial owner of the Investor is a “qualified purchaser”; (ii) Neither the US. Securities amd Exchange Commission, the CFTC, nor the securities commission ‘or other agency of any state or other jurisdiction has feviewed, approved or passed upon the merits of this offering, the Interests or the Memorandum; (iv) The Member Designee, in the case of a member- managed fund, or UBSFA, im the case of a non- member-managed fund, with respect to the Fund, is registered as a “commodity pool operator with the CFTC. The Fund is exempt from registration pursuant to the exemption under either CFTC Rule 4.13(a)(3), the de minimus exemption, or Rule 4.7, the lite touch exemption, for privately-offered commodity pools whose participants are limited to certain highly sophisticated investors and non-US persons. The Member Designee of UBSFA, as appropriate, 5 required to report certain information with the CFTC ‘on CPO-PQR annually. The Fund may operate as an exempt commodity pool pursuant to the CFTC exemptions set forth above with respect to commodity pools offered and sold solely to (a) natural persons who are “qualified eligible persons” under CFTC Rule 47(a2), including, among others, “qualified purchasers,” and (b) non-natural persons who are either “qualified eligible persons” under CFTC Rule 4.7, including “qualified purchasers,” or “accredited investors,” (v) The Undersigned &s ether a natural person who is a “qualified eligible person” under CFTC Rule 4 7(a)(2), including, among others, “qualified purchasers,” or a non-natural person who is either (1) a “qualified eligible person” under CFTC Rule 4.7, including “qualified purchasers,” or an “accredited investor,” ‘or (2) not required to be a member of the National Futures Association or be registered with the CFTC under certain CFTC no-action letters, and (vi) (a) Certain of the Fund's direct or indirect investments may be PFICs and/or CFCs for U.S. federal income tax purposes; (b) in connection with such investments, various “anti-deferral” provisions of the Code could potentially cause the Undersigned to fecognize taxable income prior to the Fund’s or the Undersigned’s receipt of distributable proceeds, pay an interest charge on receipts that are deemed as having been deferred, and/or recognize ordinary income that, but for the “anti-deferral’ provisions, would have been treated as capital gain, and (c) special U.S. federal income tax reporting requirements and other rules may apply to direct and indirect investments on PFICs and CFCs. The Undersigned fepresents and warrants that he, she or it is familiar with and accepts all possible US. tax consequences to itself, and, if the Investor is a tax-exempt trust, to such investor's beneficiaries, of a direct or indirect investment in a CFC or PFIC under the provisions of the Code (including any excise taxes that may apply if ‘the Investor is a private foundation and special rules that may be applicable to beneficiaries of charitable remainder trusts), and he, she or it is not relying on the Fund, UBSFA, the Placement Agent. or any of their respective affiliates, employees or officers, for U.S. tax advice of any kind whatsoever in this or any other regard. The Undersigned acknowledges that an investment in the Fund may have the effect of requiring the Undersigned to file income or other tax retums in junsdictions = {including = non-US. jurisdictions) in which the Fund or an Investment Fund Private and Confidential 1 UBSTERRAMAR0O0001152 EFTA00236807

--=PAGE_BREAK=--

Subscription Agreement (continued) Owns property or conducts or is deemed to conduct business. The Fund's K-1s most likely will not be available prior to April 15 and, accordingly, the Undersigned will likely need to obtain extensions for the filing of his, her or its own tax retum. If the Undersigned is an IRA, a qualified retirement plan or other taxexernpt entity, it acknowledges and understands that the Fund and an Investment Fund are permitted to make investments that will generate UBT! To the extent that any such investments generate UBTI, such UBT! would flow through to the Undersigned and the Undersigned may be required to make payments, including estimated payments, and file an income tax return for any taxable year in which it has UBT). To file an income tax return, it may be necessary for an IRA, a qualified retirement plan or other tax-exempt entity to obtain an employer identification number. Since the Fund and any investment Fund are not required to avoid creating UBTI, tax-exempt investors may recognize a significant amount of UBT! as a result of an investment in the Fund and, accordingly, are strongly urged to consult their own tax advisors regarding the advisability of an investment in the Fund. The Undersigned has had the opportunity to seek independent tax advke in connection with making this investment. Neither the Fund, the Placernent Agent nor any of their affiliates provides tax advice in connection with this investment. The Undersigned acknowledges that the tax and regulatory summaries included in the Memorandum are of an indicative nature only, do not constitute tax or regulatory advice and may or may mot be relevant to the Undersigned's personal circumstances (G) The Undersigned has such knowledge and experience in financial and business matters that the Undersigned is capable of evaluating the merits and nisks of the Undersigned’s investment in the Fund and is able to bear such risks, and has obtained, in the Undersigned’s judgment, sufficient information trom ‘the Fund or its authorized representatives to evaluate the merits and risks of such investment. The Undersigned has evaluated the risks of investing in the Fund, understands there are substantial risks of loss incidental to the purchase of an Interest, and has determined that the Interest is a suitable investment for the Undersigned (H) The Undersigned is acquiring the Interest for his, her or its own account, for investment purposes only and not with a view toward distributing or reselling the Interest in whole or in part () The Undersigned understands that Incentive Allocations may create an incentive for the manager of an Investment Fund, and UBSFA only if applicable @ disclosed in the Memorandum, to make investments that are riskier or more speculative than would be the case in the absence of an incentive Allocation. (J) If this investment is covered by an agreement under 3 UBS advisory program between UBS and the Undersigned, the Undersigned acknowledges that if the Undersigned chooses to exit such UBS advisory program, the Undersigned may be charged higher fees that are applicable to investors that are not subject to an advisory contract, may be required to tedeem out of the advisory share class or may be required to switch into a non-advisory share class. Such actions may result in tax consequences and other penalties, and the Undersigned should consult his tax advisor on this and other matters before making an investment in the Fund (K) The Undersigned understands that by investing in the Fund, the Investor will bear his, her or its share of expenses and fees as an investor in the Fund and, indirectly, similar fees, expenses and the Incentive Allocation of any investment Fund, only where applicable (OU Except as disclosed in the Investor Application Form, the Undersigned is not a “Benefit Plan investor” (as such term is defined in the Plan Assets plans” (as defined in Section 3(3) of ERISA) that are subject to the fiduciary responsibility provisions of ERISA, (ii) “plans” (as defined in Section 4975{e\ 1) of the Code) that are subject to Section 4975 of the Code (including an IRA or Keogh Plan), and [ili) entities that would be deemed (under the Plan Assets Rules) to be holding the assets of such an “employee benefit plan” or “plan” for purposes of ERISA or Section 4975 of the Code}. If the Undersigned has represented in the investor Application Form that it is not and wil not be a Benefit Plan Investor, and thereafter the Undersigned becomes a Benefit Plan Investor, then, without limiting the remedies against the Undersigned for its breach, the Undersigned shall immediately notify the Fund in writing as to what percentage of its assets constitute “plan assets” under the Plan Assets Rules. Thereafter, the Undersigned shall immediately notify the Fund in writing upon any change in the percentage of its assets that constitute “plan assets” under the Plan Assets Rules. (M) If the Undersigned is a Benefit Plan Investor, then the Undersigned (and the fiduciary executing this Subscription Agreement on behalf of the Undersigned) represents and warrants to the Fund that (i) it has been informed of and understands the investment objectives and policies of, and the investment strategies that may be pursued by, the (i) it is aware of the risks associated with an investment in the Fund and the fact that the Undersigned will be unable to redeem its Interests and that the Fund may compulsorily redeem Interests at certain times and under certain conditions as set forth in the Memorandum; (iil) if applicable, it is aware of the provisions of Section 404 of ERISA relating to fiduciary duties, including the requirement for diversifying the investments of a Benefit Plan investor, (iv) it has given appropriate consideration to the facts and circumstances relevant to an investment in the Fund and has determined that such investment is reasonably designed, as part of the Undersigned’s portfolio of investments, to further the purposes of the Undersigned; {v) its acquisition of the Interests is not a non-exempt “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Code, or prohibited under any other similar law to which the Undersigned may be subject; (vi) its investment in the Fund is permissible under any and all documents, laws, rules, regulations and/or policies governing the investment of its assets and under ERISA; (vil) it is independent of the Fund, UBSFA, the Placernent Agent, and any of their affiliates, (viii) it is mot relying and has not relied on the Fund, UBSFA, the Placement Agent, or any affiliate of any of the foregoing for any evaluation or other investment advice in respect of the adveability of an investment in the Fund in light of the Undersigned's assets, cash needs, investment policies or strategy, overall portfolio composition or plan for diversification of assets; and (ix) if UBS Fiduciary Trust Company is the corporate trustee of the Undersigned, the fiduciary has directed UBS Fiduciary Trust Company to execute this Subscription Agreement and that all of the representations and covenants made hereunder by the Undersigned apply solely to the fiduciary and the Undersigned and not to USS Fiduciary Trust Company (N) If the Undersigned is an “employee benefit plan” (as defined in Section 3/3) of ERISA) that is not subject to the fiduciary responsibility provisions of ERISA, ora “plan” (as defined in Section 4975/e(1) of the Code} | Fey arsy ict i that is not subject to Section 4975 of the Code, then CONFIDENTIAL the Undersigned (and the fiduciary executing the Subscription Agreement on behalf of the Undersigned) represents and warrants to the Fund that (i) it has been informed of and understands the investment objectives and policies of, and the investment strategies that may be pursued by, the Fund; (id it ts aware of the risks associated with an investment in the Fund and the fact that the Undersigned will be unable to redeem its Interests and that the Fund may repurchase Interests at certain times and under certain conditions as set forth in the Memorandum; (il it has given appropriate consideration to the facts and circumstances relevant to an investment in the Fund and has determined that such investment is reasonably designed, as part of the Undersigned’s portfolio of investments, to further the purposes of the Undersigned; (iv) its acquisition of the Interests will not result in a prohibited transaction under any federal, state or local law that is substantially similar to Section 406 of ERISA or Section 4975 of the Code for which an exemption is not available; (v) its investment in the Fund is permissible under any and all documents, laws, rules, regulations and/or policies governing the investment of its assets, (vi) it is independent of the Fund, UBSFA, the Placement Agent, and any of their affiliates, (vil) it is not relying and has not relied on the Fund, UBSFA, the Placement Agent, or any affiliate of any of the foregoing for any evaluation or other investment advice in respect of the advisability of an investment in the Fund in light of the Undersigned's assets, cash needs, investment policies or strategy, overall portfolio composition or plan for diversification of assets, and (vil) if UBS Fiduciary Trust Company is the corporate trustee of the Undersigned, the fiduciary has directed UBS Fiduciary Trust Company to execute this Subscription Agreement and that all of the representations and covenants made hereunder by the Undersigned apply solely to the fiduciary and the Undersigned and not to UBS Fiduciary Trust Company. (O} The Undersigned understands that: (i) If the Fund is mewly formed, it has a limited financial and operating history, (i) No federal or state agency has passed upon the interests or made any findings or determination as to the fairness of this investment, (i) The representations, warranties, agreements, undertakings and acknowledgments made by the Undersigned in this Subscription Agreement will be relied upon by the Fund, UBSFA and the Placement Agent in determining the Undersigned's suitability as a purchaser of an Interest and the Fund's compliance with federal and state securities laws, and shall survive the Undersigned's admission as an Investor; (ivi A Placement Fee of 2% of the Capital Contribution will be charged if the Undersigned invests through a brokerage account, subject to waiver by the Placement Agent in limited circumstances, and that the Placement Fee is in addition to, and will not reduce, the Undersigned’s Capital Contribution, (v) The Placement Agent's Financial Advisors receive compensation from the Placement Agent, including compensation based upon assets under management and/or the Fund's investment performance, and a portion of the Placernent Fee, if applicable; (vi) If the Fund is a master-feeder structure, then the information contained in the Memorandum relating to the Investment Fund and its sponsor was obtained by the Fund from certain materials furnished by the Private and Confidential 1 UBSTERRAMARO0001153 EFTA00236808

--=PAGE_BREAK=--

Subscription Agreement (continued) investment Fund and its sponsor. None of the Placement Agent, UBSFA or the Fund participated in the preparation thereof, and none of them makes any representations regarding, and each of them expressly disclaims any liability or responsibility to any Investor in the Fund for, such information or any other information relating to the Investment Fund set forth in the Memorandum. The Undersigned is not being offered an interest in an investment Fund, will not be an investor in an Investment Fund, will have no direct interest in an investment Fund, will have no voting fights in an Investment Fund and will have no standing or recourse against an Investment Fund, its affiliates or general partner, investment advisers, officers, directors, employees, partners or members No Investment Fund, or such Investment Fund's sponsor, is responsible for the formation or operation of the Fund; (wi) The Fund, UBSFA and the Placement Agent have no right to participate in the control, management or operations of any Investment Fund and have no (wii) For so long as he, she or it is invested in the Fund, and unless otherwise waived by UBSFA, the Undersigned must maintain a brokerage account with an affiliate of UBSFA designated by UBSFA. (P) The Undersigned has all requisite power, authority and capacity to acquire and hold the interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Undersigned in connection with the Undersigned’s subscription for the interest, including this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Undersigned, any law, regulation or order, or any agreement to which the Undersigned is a party or by which the Undersigned may be bound if the Undersigned is an entity, the person executing and delivering each of such instruments on behalf of the Undersigned has all requisite power, authority and capacity to execute and deliver such instruments and, upon request by the Fund or UBSFA, will furnish to the Fund a true and correct copy of any formation documents of the Undersigned, including all amendments thereto, (Q) All information that the Undersigned has provided to the Fund, UBSFA or the Placement Agent concerning the Undersigned, the Undersigned’s status, financial position, knowledge and experience of financial, tax and business matters or, in the case of an Undersigned that is an entity, the knowledge and experience of financial, tax and business matters of the person making the investment decision on behalf of such entity, is correct and complete as of the date set forth herein. (R) To ensure compliance with requirements imposed by the U.S. Treasury Department in Circular 230, the Undersigned is hereby informed that, and acknowledges that: (i) any tax advice contained herein, in the Investor Application Form or in the Memorandum is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Code; (i) the advice is written to support the promotion or marketing of the transactions or matters addressed in the Memorandum; and (ili) each Investor and potential Investor in the Fund should seek advice based on his, her or its particular circumstances from an independent tax advisor. (S) The Undersigned understands that the tax io its transactions, and all materials of any kind non-US. tam loa well net be amended or sorte d in such a manner as to deprive the Undersigned of some or all of the tax benefits which he, she or it might otherwise expect to receive from his, her or its investment in the Fund {T) Notwithstanding any other statement in this Subscription Agreement, the Fund Parties authonze the Undersigned and the Undersigned’s employees, representatives or other agents, from and after the commencement of any discussions with any such party, to disclose to any and all persons without limitation of amy kind the tax treatment and tax structure of the Fund and any transaction entered into by the Fund and all materials of any kind (including opinions or other tax analyses) relating to such tax treatment of tax structure that are provided to the Undersigned, insofar as such treatment and/or structure relates to a US, federal or state income or franchise tax strategy provided to the Undersigned by the Fund Parties, except for any information identifying the Fund Parties, any other Investor, or (except to the extent relevant to such tax structure or tax treatment) any nonpublic commercial or financial information {U) The Undersigned agrees that, at its discretion, the Fund or UBSFA may (directly or through a servke provider) provide to the Undersigned (or the Undersigned’s designated agents) statements, reports and other communications relating to the Fund and/or the Undersigned’s investment in the Fund in electronic form, such as e-mail and/or password protected account viewing on the Fund's web site, in lieu of of in addition to sending such communications as hard copies via fax or mail. Please note that e-mail messages are not secure and may contain computer viruses or other defects, may not be accurately replicated om other systems, or may be intercepted, deleted or interfered with without the knowledge of the sender or the intended recipient. The Fund and UBSFA make no warranties in relation to these matters. Please note that the Fund and UBSFA reserve the right to intercept, monitor and retain e- mail messages to and from their systems as permitted by applicable law. If the Undersigned has any doubts about the authenticity of an e-mail purportedly sent by the Fund or UBSFA (directly or through a service provider), the Undersigned is required to contact the Purported sender immediately {V) The Undersigned is not now and will not be (i) classified as a partnership or an entity disregarded from its beneficial owner for federa income tax purposes, (ii) a “grantor trust,” any portion of which is treated as owned by the grantor(s) or other Person's) under Sections 671-679 of the Code, or (ili) an *S corporation” within the meaning of Section 136 1(a) of the Code; or, if the Undersigned is such an entity, then (a) none of the Undersigned’s (direct or indirect) beneficial owners will have on the date of the Undersigned’s admission or thereafter substantially all of the value of their direct or indirect interest in the Undersigned attributable to the Undersigned’s interest in the Fund and (b) satisfaction of the 100-partner limitation described in Treasury Regulations §1.7704-1(h\1)(i) is mot a principal purpose of the use of this tiered arrangernent. (W) Except as otherwise permitted by UBSFA in veriting, the Undersigned agrees to keep confidential, and not reproduce, disclose or distribute, any information relating to the Fund, in whole or in part, including without limitation information disclosed to Investor by its Financial Advisor or (b) use any such information for its own purposes or its own account, except in connection with its investment in the Fund and except as otherwise required by any regulatory authority, law or regulation, or by legal process. Notwithstanding the foregoing or anything else in the Subscription Agreement to the contrary, the Investor (and each employee, representative, or other agent of the Investor) may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of (i) the Fund and (ii) any ‘including opinions or other tax analyses) that are provided to the investor relating to such tax treatment and tax structure IIL. INDEMNIFICATION; POWER OF ATTORNEY; GENERAL (A) The Undersigned agrees to indemnify and hold harmless the Fund, UBSFA, each officer of the Fund, the Placement Agent, and each of thew affiliates, employees and officers and each other person, if any, who controls, is controlled by, or is under common control with, any of the foregoing, within the meaning of Section 15 of the Securities Act, against any and ail loss, liability, claim, damage and expense whatsoever (including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) arising out of or based upon (i) any false representation or warranty made by the Undersigned, or breach of failure by the Undersigned to comply with any covenant or agreernent made by the Undersigned, in this Subscription Agreement or in any other document furnished by the Undersigned to any of the foregoing in connection with this transaction or the inaccuracy of any information provided by the investor, whether in this investor Application Form or otherwise, or (ii) any action for securities law violations instituted by the Undersigned which is finally resolved by judgment not to have resulted from the gross negligence or willful misconduct of any of the foregoing persons. (B) The Undersigned hereby appoints UBSFA as his, her or its true and lawful representative and attorney- in-fact, in his, her or its name, place and stead to make, execute, sign, acknowledge, swear to and file (i) Any certificate, business certificate, fictitious name certificate, or amendment thereto, or other instrument or document of any kind necessary or desirable to accomplish the business, purpose and objective of the Fund, or required by any applicable federal, state, local or foreign law, (i) The Fund Agreement on behalf of the Undersigned and any amendment duly approved as provided therein; and (i) Any and all instruments, certificates and other documents which may be deemed necessary or desirable to effect the winding-up and termination of the Fund. This power of attorney is irrevocable, 6 coupled with an interest sufficient in law to support an irrevocable power of attorney and is deemed to be given to secure a proprietary interest of the donee of the power or performance of an obligation owed to the donee, and shall survive and shall not be affected by the subsequent death, disability, incompetency, termination, bankruptcy, insolvency or dissolution of the Undersigned; provided, however, that this power of attorney will terminate upon the substitution of another Investor for all of the Undersigned’s investment in the Fund or upon the withdrawal of the Undersigned. The Undersigned hereby waives any and all defenses which may be available to contest, negate or disaffirm the actions of UBSFA taken in good faith under such power of attomey, (C) If any provision of this Subscription tis invalid or unenforceable under any applicable law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform to such applicable law. Any provision hereof which may be held invalid or unenforceable under any applicable law shall not affect the validity or enforceability of any other provisions hereof, and to this extent, the provisions hereof shall be severable. (D) The Undersigned has reviewed the registration fequirements of the Commodity Exchange Act, the CFTC and the National Futures Association applicable to commodity pool operators and commodity trading advisors and has determined that the Undersigned is in compliance with such requirements in respect of its purchase of the Interest hereunder and all other relevant activities. Private and Confidential 1 UBSTERRAMARO0001154 EFTA00236809 CONFIDENTIAL

--=PAGE_BREAK=--

Subscription Agreement (continued) IV. TRUSTEE, AGENT, REPRESENTATIVE OR NOMINEE If the Undersigned is acting as trustee, agent, representative or nominee for, or will enter into a Swap with a Third Party, the Undersigned will notify the Fund that he, she or it 6 acting in such capacity and the Undersigned understands and ack: that the representations, warra nties and agreements made herein are made by the Undersigned (A) with respect to the Undersigned and (B) with respect to the Third Party. The Undersigned further represents and warrants that (i) he, she or it has all requisite power and authority from said Third Party to execute and perform the obligations under this Subscription Agreement and (ii) with respect to a Third Party entering into a Swap: (a) the Third Party is authorized under its constituent documents and applicable law to enter into the Swap and would also be so authorized to invest directly in the Fund; (b) the Third Party has received and reviewed a copy of the Memorandum and the Fund Agreement, (c) the Third Party acknowledges that the Fund and its affiliates are not responsible for the legality, suitability or tax consequences of the Swap and that the Undersigned is not an agent of the Fund; and (d) the Third Party is an “eligible contract participant” under the CFTC rules, an “accredited investor” under Regulation D and a “qualified purchaser” as defined under Section 2(a51) of the Investment Company Act The Undersigned agrees to indemnify the Fund, UBSFA, the Placement Agent, and each of their affiliates, and their officers and agents for any and all losses, liabilities, claims, damages, costs, fees and expenses (including legal fees and disbursements) arising in connection with, relating to or resulting from the Undersigned’s entry into the Swap (including such losses, liabilities, claims, damages, costs, fees and expenses arising in connection with, relating to or resulting from the Undersigned's or the Third Party's misrepresentation of misstatement contained herein, or the Undersigned’s lack of proper authorization from the Third Party to enter into this Subscription Agreement or perform the obligations hereunder Nothing herein constitutes am agreement or statement by the Fund or Placement Agent to the Investor's entry into the Swap, as to the legality of a ‘Swap or the suitability of a Swap for the Undersigned or the Third Party. V. ADDITIONAL INFORMATION AND SUBSEQUENT CHANGES IN THE FOREGOING REPRESENTATIONS The Fund may request from the Undersigned such additional information as it may deem necessary to evaluate the eligibility of the Undersigned to acquire an Interest, and may request from time to time such information as it may deem necessary to determine the eligibility of the Undersigned to hold an Interest or to enable UBSFA to determine the Fund's compliance with applicable regulatory requirements or its tax status, and the Undersigned agrees to provide such information as may reasonably be requested The Undersigned agrees to notify the Fund promptly should there be any change in any of the foregoing information VI. GOVERNING LAW AND DISPUTE RESOLUTION This Investor Application shall be governed by, and construed in accordance with, the laws of the State of New York. The Parties hereby agree that the Parties shall submit all controversies arising among them in connection with the Fund or its businesses or concerning any transaction, dispute or the construction, performance or breach of this or any other agreement, whether entered into prior to, on or subsequent to the date hereof to arbitration in accordance with the provisions set forth below and understand that arbitration is final and binding on the Parties. Except with respect to seeking injunctive relief, the Parties are waiving their rights to seek remedies in court, including the right to jury lA v r NVV limited than and different from court proceedings. The arbitrator's award is not required to include factual findings or legal reasoning, and a Party's right to appeal or to seek modification of rulings by arbitrators is strictly limited. A pane! of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry. Controversies shall be determined by arbitration before, and only before, an class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action unless and until: (A) the class certification is denied; or (6) the class is dece; Party is excluded from the forbearance to enforce an All information in this Subscription Agreement will be establish that the offer and sale of the Interests is exempt from registration under applicable law or (B) the information is required to be disclosed by the Fund by law or regulation or is relevant to an issue in any action, suit or proceeding to which the Fund, UBSFA, the Placernent Agent or their affiliates is a party or by which they are or may be bound. In addition, the Fund may share information described above with its affiliates for business purposes, such as to facilitate the servicing of accounts. The Fund may share the information described above for business purposes with a non-affiliated Third Party if the entity is under contract to perform transaction processing, servicing or maintaining Investor accounts on behalf of the Fund. This Subscription Agreement may be executed through the use of separate signature pages or im any number of counterparts. Each counterpart shall, for all purposes, constitute one agreement binding on all the Parties, notwithstanding that all Parties do not execute the same counterpart Memorandum was derived by UBSFA from the Private Placement Memorandum of an investment Fund and provided for informational purposes only Neither UBSFA nor its affiliates participated in the preparation of the Private Placement Memorandum of the Investment Fund nor have they independently verified the contents thereof, and they make no representations or warranties (express or implied) regarding, or otherwise have or accept any responsibility for, the accuracy or completeness of the contents of the Private Placement Memorandum of the Investment Fund nor for aw other statement made of purported to be made by the Investment Fund or on its behalf, UBSFA and its affiliates accordingly disclaim all or any liability whether arising in tort of contract that they might otherwise have in respect of the Private Placement Memorandum of the Investment Fund or any such statement, and bear no | responsibility to update any such information Furthermore, the Investment Fund may amend its Private Placement Memorandum, however, subject to compliance by the Fund with applicable law, neither the Fund mor UBSFA shall have any obligation to update the Memorandum. An Investment Fund and its affiliates do not endorse and make no recommendations of the Fund and make mo representation regarding, and expressly disclaim any liability or responsibility to any recipient of the Memorandum or any information set forth herein. No Investment Fund is responsible for the formation or operation of the Fund. The past performance of an investment Fund or the Fund is not indicative of future results of the investment Fund or of the Fund and there can be no guarantee that either any Investment Fund or the Fund will achieve comparable results. There can be no assurance that an investment Fund or the Fund will be able to implement its investment strategy or achieve its investrnent objectives. “NEW ISSUES" EXEMPTIONS (Not applicable to individual retirement accounts, individual or joint accounts, UGMA or UTMA accounts that are treated as natural persons for this purpose) 1 (a) The Beneficial interest of restricted persons does not exceed in the aggregate 10% of the Undersigned or if the Beneficial Interest of all restricted persons in the Undersigned exceeds in the aggregate 10% of the Undersigned but the Undersigned has implemented procedures to reduce the Beneficial Interest of all restricted persons with respect to new issues in the aggregate below 10% (b) The Beneficial Interest of 5131 Covered Persons does not exceed in the aggregate 25% of the Undersigned or the Beneficial interest of all 5131 Covered Persons in the Undersigned exceeds in the aggregate 25% of the Undersigned but the Undersigned has implemented procedures to reduce the Beneficial Interest of all 5131 Covered Persons with respect to new issues in the aggregate below 25% 2. An investment company registered under the Investment Company Act 3. A common trust fund that has investments from 1000 or more accounts and does not limit interest in the fund principally to trust accounts of restricted persons 4 An insurance company general, separate or investment account provided that (a) the account is funded by premiums from 1000 or more policyholders or, if a general account, the insurance company has 1000 or more policy holders and (b) the insurance company does not limit the policyholders whose premiums are used to fund the account principally to restricted persons, of if a general account the insurance company does not limit its policyholders principally to restricted persons 5. A publicly traded entity (other than a broker-dealer or an affiliate of a broker-dealer where such broker- dealer is authorized to engage in the public offering of new issues either as a selling group member or underwriter) that is listed on a national securities exchange, is traded on the NASDAQ National Market, or is 2 foreign issuer whose securities meet the quantitative designation criteria for listing on a national securities exchange or the NASDAQ National Market 6. An investment company organized under the laws of a foreign jurisdiction provided that the investment company is listed on a foreign exchange or authorized for sale to the public by a foreign regulatory authority and that no person owning 5 percent or more of the investment company is a restricted person. 7. An ERISA benefits plan that is qualified under Section 401(a) of the Code, provided that such plan is not sponsored solely by a broker dealer. 8. Astate or municipal government benefits plan that is subject to state and/or municipal regulation 9. A tax-exempt charitable organization under Section 501(c)\3) of the Code. 10. Achurch plan under Section 414/e) of the Code Private and Confidential 18 UBSTERRAMAR0O0001155 EFTA00236810 CONFIDENTIAL

--=PAGE_BREAK=--

Schedule 2 Defined Terms Used Herein 3(€(1) oF 3{c7) Company Agreements Beneficial interest CAI and CAI Statement Collective Investment Company CONFIDENTIAL An entity that is excepted from the definition of an “investment company” under the Investment Company Act pursuant to Section 3/c}1) or 3ic\(7) thereof This Investor Application Form, including the Subscription Agreement and the Fund's Amended and Restated Limited Liability Company Agreement Any economic interest, such as the night to share gains and losses. This does not include the receipt of a management or performance fee for operating a Collective investment Account, or other fees for acting in a fiduciary capacity Client Account Information A capital contribution in the Fund (subscription amount) A controlled foreign corporation, a5 defined in Section 957 of the Code The Commodity Futures Trading Commission Each date upon which UBSFA accepts new or increased Capital Contributions The internal Revenue Code of 1986, as amended Any hedge fund, investrnent partnership, investment corporation or any other collective investment vehicle that is engaged primarily in the purchase and/or sale of securities. A collective inwestment account does not include a family investment vehicle (ie. a legal entity that is beneficially owned solely by immediate family members) or an investment club (L.e., a group of frends, neighbors, business associates, or others that pool their money to invest in stock or other securities and are collectively responsible for making investment decisions, Securities of issuers controlled by the investor A broker or dealer, other than a Limited Business Broker-Dealer Any company (other than a Public Company) satisfying any of the following three criteria: (1) income of at least $1 million in the last fiscal year or in two of the Last three fiscal years and shareholders’ equity of at least $15 million, or (2) shareholders’ equity of at least $30 million and a two year operating history, or (3) total assets and total revenue of at least $75 million in the latest fiscal year or in two of the last three fiscal years. The Employee Retirement income Security Act of 1974, as amended, and the rules and regulations thereunder AAMIAIIC VIAAVVE Financial Advisor Fund Agreement Fund Parties Investment Company Act Investor Financial advisor to the Undersigned The Financial industry Regulatory Authority, inc. The Fund's Amended and Restated Limited Liability Company Agreement, as the same may be amended from time to time UBSFA and its advisors, members, officers, directors, employees and principals Any state or political subdivision of a state, including any agency, authority, or instrumentality of the state or political subdivision; a pool of assets sponsored or established by the state or political subdivision or any agency, authority or instrumentality thereof, including, but not limited to a “defined benefit plan* as defined in section 414/j) of the Code (26 U.S.C. 414)j)), ora state general fund; A plan or program of a government entity, and officers, agents, or employees of the state or political subdivision or any agency, authority or instrumentality thereof, acting in their official capacity, The person who establishes the trust and contributes to such trust An individual's parents, mother-in-law or father-intaw, spouse, brother or sister, brother-in-law or sister-in-law, son-in-law or daughter-indaw and children and any other person to whorn the individual provides material SUPP. Incentive-based compensation paid with respect to the Fund (only to the extent disclosed in the Memorandum: of an Investment Fund, as applicable An interest in the Fund investment Advisers Act of 1940, as amended investment Company Act of 1940, as amended Includes, without limitation, acting as an underwriter, Participating in a selling group in an offering for the issuer oF otherwise acting in furtherance of a public offering of the issuer; acting as a financial adviser in a merger, acquisition or other corporate reorganization, Providing venture capital, equity lines of credit, private investment, public equity transactions |PIPEs) or similar investments or otherwise acting in furtherance of a private offering of the issuer; of serving as placement agent for the issuer An unregistered investment vehicle in which the Fund may invest, etther in a fund of funds or master'feeder structure An investor in the Fund Private and Confidential 19 UBSTERRAMARO0001156 EFTA00236811

--=PAGE_BREAK=--

Schedule 2 (continued) Investor Application and Investor Application Form IRA Parties Placement Agent Placement Agent's Financial Advisor Pre-April 30 Holder The application for an Interest in the Fund included in this Booklet individual retirement account Any broker-dealer whose authorization to engage in the securities business is limited solely to the purchase and sale of investment company’ variable contracts securities and direct participation program securities. Directly or indirectly providing more than 25% of a person's income in the prior calendar year An individual is deemed to provide matenal support to an immediate Family Member living in the same household UBSFA, a * Qualified Replacement” or the members of the Fund acting by a majority in interest, in each case 5 set forth in the Fund Agreement. Confidential Offering Memorandum of the Fund, as the same may be updated, supplemented or modified from time to time ‘The New York Stock Exchange, Inc The Undersigned, UBSFA, the Placement Agent and the Fund Payment in good funds for an Interest Passive foreign investment company, as defined in Section 1297 of the Code UBS Financial Services Inc. Financial advisor employed by the Placement Agent A fee charged by the Placement Agent of 2% of the Capital Contribution in connection with an investment in the Fund, subject to waiver by the Placement Agent in limited circumstances. The Placement Fee when charged 6s in addition to your Capital Contribution. The plan assets regulation set forth by the Department of Labor in the U.S. Code of Federal Regulations at 29 CFR. § 2510.3-101, as amended, together with Section 3142) of ERISA A direct “beneficial owner” of a Section 3\c\(1) of 317) Company that has held an interest in the Undersigned on or before April 30, 1996, ©2012 UBS Financial Services Inc. All Rights Reserved. Member SIPC 110106-2698-001 Private Fund Public Company Regulation D Securities Exchange Act Settlor ‘Small Business Investment Act Subscription Agreement Subscription Booklet Third Party UBSFA A fund exempt from registration pursuant to Section 3c\(1) or 3/¢X7) of the Investment Company Act Any company that is registered under Section 12 of the Securities Exchange Act or files periodic reports pursuant to Section 15(d) thereof. Regulation D under the Securities Act Securities Act of 1933, as amended Securities Exchange Act of 1934, as amended The person who establishes the trust and contributes assets to such trust Small Business Investment Act of 1958 The subscription agreement contained herein This subscription booklet which includes the Investor Application Form and the Subscription Agreement and all exhibits related thereto A swap, structured note or other derivative instrument, the return from which is based in whole or in part on the return of the Fund A third party UBS Fund Advisor, LL.C., or an affiliate thereof, in its capacity as investment adviser to the Fund or as administrator to the Fund, as disclosed im the Memorandum Unrelated business taxable income, as defined in and within the meaning of Sections 511 to 514 of the Code The persons) signing this investor Application Form, UBS Financial Services Inc. is a subsidiary of UBS AG. Private and Confidential 20 CONFIDENTIAL UBSTERRAMARO0001157 EFTA00236812