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Performance Not Guaranteed: Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are not guaranteed and may not reflect actual future performance.

Risk of Loss: All securities involve a high degree of risk and may result in partial or total loss of your investment.

Liquidity Not Guaranteed: Investments offered by Ballard are illiquid and there is never any guarantee that you will be able to exit your investments on the Secondary Market or at what price an exit (if any) will be achieved.

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