Electronic versions of the materials you are seeking to access are being made available on this website in good faith and are for information purposes only.

These materials are not directed at or accessible by persons in the United States or persons resident or located in the United States, Australia, Canada, Japan, New Zealand, the Republic of South Africa, any EEA jurisdiction other than professional investors in Ireland, or any other jurisdiction where the extension of availability of the materials to which you are seeking access would breach any applicable law or regulation.

Users of this website are responsible for observing all applicable laws and regulations in their relevant jurisdictions before proceeding to access the information contained herein. By proceeding to access the information, users are deemed to be representing and warranting that the applicable laws and regulations of their relevant jurisdiction allow them to do so.

By accessing this website you are representing to International Public Partnerships Limited (the "Company") and its advisers that the applicable laws of your relevant jurisdiction allow you to access this website and the material contained herein and in particular that you are not: (i) a US Person (within the meaning of Regulation S under the US Securities Act of 1933, as amended the "Securities Act") and are not acting on behalf of a US Person, nor purchasing with a view to re-sale in the US or to or for the account of a US Person, and that you are not an employee benefit plan subject to the United States Employee Retirement Income Security Act of 1974 and the regulations promulgated thereunder (in each case as amended) ("ERISA") or similar US laws or an individual retirement account as defined in section 408 of the US Internal Revenue Code; or (ii) a resident of Australia, Canada, Japan, New Zealand, the Republic of South Africa, any EEA jurisdiction other than Ireland, or a jurisdiction where the extension of availability of the materials to which you are seeking access would breach any applicable law or regulation, and that you will not: (i) offer, sell, renounce, transfer or deliver, directly or indirectly, Shares subscribed for by you in (A) the United States, or (B) Australia, Canada, Japan, New Zealand, the Republic of South Africa, any EEA jurisdiction other than Ireland, or in any jurisdiction in which such offers or sales are unlawful ("Excluded Territories") or to any US Person or resident of any Excluded Territories, or: (ii) release or otherwise forward, distribute or send any materials on this website in or into the United States or any Excluded Territories.

Shares offered by the Company have not been and will not be registered under the Securities Act or with any securities regulatory authority of any State or other jurisdiction of the United States and, subject to certain exceptions, may not be offered or sold within the United States or to, or for the account or benefit of, US Persons (within the meaning of Regulation S under the Securities Act). The Company has not been and will not be registered as an "investment company" under the United States Investment Company Act of 1940 and investors will not be entitled to the benefits of that Act. In addition, relevant clearances have not been, and will not be, obtained from the securities commission (or equivalent) of any province of any Excluded Territories and, accordingly, unless an exemption under any relevant legislation or regulations is applicable, none of the Shares may be offered, sold, renounced, transferred or delivered, directly or indirectly, in any Excluded Territories.

Unless expressly indicated otherwise on a particular document or section of this website, the contents of this website are not a UK financial promotion and none of the contents of this website constitute an invitation or inducement to engage in investment activity. If and to the extent that this website or any of its contents are deemed to be a financial promotion, the Company is relying on the exemption provided by Article 69 of the UK Financial Services and Markets Act 2000 (Financial Promotions) Order 2005/1529 in respect of section 21 of the UK Financial Services and Markets Act 2000.

In particular, any information in respect of past performance (including without limitation past performance of the Company, its group, shares in the Company and/or the Company’s portfolio) cannot be relied upon as a guide to future performance. None of the contents of this website are intended to be nor may they be considered as an investment recommendation nor personal advice.

The Company is a closed ended FTSE 250 listed investment company which is incorporated in Guernsey and is recognised as a third country self- managed AIF in very limited EEA jurisdictions under the EU Alternative Investment Fund Managers Directive and in the UK under the UK Alternative Investment Fund Managers Regulations 2013 (SI 2013/1773).  The Ordinary Shares of the Company are excluded from the UK FCA restrictions on promotion that are applicable in the UK to non-mainstream investment products, due to its current investment company structure.

This website and the information contained herein does not and is not intended to constitute a direct or indirect offering or placement of shares in the Company or the provision of investment management, advisory or other services to any person in any jurisdiction in which such solicitation is not authorised or to any person to whom it would be unlawful to make such solicitation.

Save for the United Kingdom no action has been taken or will be taken in any jurisdiction by the Company that would permit a public offering of the Company's ordinary shares (the "Shares") in any jurisdiction where action for that purpose is required.

The Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or under the securities laws or with any securities regulatory authority of any state or other jurisdiction of the United States. The Shares may not be offered, sold, resold, transferred or delivered, directly or indirectly, within the United States or to, or for the account or benefit of U.S. Persons (as defined in Regulation S under the U.S. Securities Act (‘‘Regulation S’’)). The Company has not been, and will not be, registered under the U.S. Investment Company Act of 1940, as amended (the “U.S. Investment Company Act”), and investors will not be entitled to the benefits of that Act. No offer, purchase, sale or transfer of the Shares may be made except under circumstances which will not result in the Company being required to register as an investment company under the U.S. Investment Company Act.

The Shares have not been approved or disapproved by the U.S. Securities and Exchange Commission, any State securities commission in the United States or any other U.S. regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the Shares or the accuracy or adequacy of the Company's prospectus. Any representation to the contrary is a criminal offence in the United States.

The content of this Site is general in nature. The Site is not intended to provide specific investment advice including, without limitation, investment, financial, legal, accounting or tax advice, or to make any recommendations about the suitability of the Company for the circumstances of any particular investor. If you do require investment advice, please consult a suitably qualified professional adviser. You should take appropriate advice as to any securities, taxation or other legislation affecting you personally prior to investing.

Any person accessing the website should carefully review the Terms of Use of the website. By using the website, you indicate that you accept the Terms of Use and that you agree to abide by them. If you do not agree to the Terms of Use, please refrain from using the website.

The information, material and content provided in the pages of the website may be changed at any time. Changes may be made to these Terms of Use at any time without notice by updating this posting. You agree to review the Terms of Use regularly and your continued access to or use of the website will mean that you agree to any changes.

Other than the warranties and representations contained in these Terms of Use, all other warranties and representations by the Company or its advisers, whether express, implied or statutory are, to the fullest extent permitted by the law, excluded. The Company and its advisers do not exclude or restrict our liabilities or duties to you where or to the extent that this is prohibited by law or regulation. Use of this website is at your sole risk.

If any part of these Terms of Use is found by any court or other competent authority to be invalid, unlawful or unenforceable then such part shall be severed from the rest of the Terms of Use which shall continue to be valid and enforceable to the fullest extent permitted by law.

To the extent permitted by law, the Company and/or its advisers shall not be liable for any damage, loss or liability (whether arising in contract, tort, including negligence, or otherwise) arising out of or in connection with (i) your use of this website, (ii) your reliance on or your inability to use the information on this website, or (iii) any failure or performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure to this website or your use or attempted use of it.

The above exclusions apply to any damage which is direct, indirect, special, incidental or consequential or consists of loss of profits, business, opportunity or data.  All of the above exclusions apply even if you have advised the Company of the possibility of the above types of damage, loss or liability.

No delay or failure by you or the Company to exercise any of the Company’s or your powers, rights or remedies under these Terms of Use shall operate as a waiver of them, nor shall any single or partial exercise of any such powers, rights or remedies preclude any other or further exercise of them. Any waiver to be effective must be in writing. The remedies provided in these Terms of Use are cumulative and not exclusive of any remedies provided by law.

The terms are governed by and interpreted in accordance with the laws of England and Wales and the courts of England will have non-exclusive jurisdiction in respect of any dispute, which may arise.

Please check the box below to confirm that:

• You have read, understood and agree to the above;
• You are not in the United States nor in any other jurisdiction where accessing this website may be prohibited by law or regulation;
• You are not a US person or otherwise a resident of any Excluded Territory; and
• You are not investing or otherwise acting for the account or benefit of a US person or a resident of any Excluded Territory.