Risk Disclosure

THE RISK OF LOSS IN TRADING COMMODITIES CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN COMMODITY TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.

IN SOME CASES, MANAGED COMMODITY ACCOUNTS ARE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS.

THE REGULATIONS OF THE UNITED STATES COMMODITY FUTURES TRADING COMMISSION ("CFTC") REQUIRE THAT PROSPECTIVE CLIENTS OF A COMMODITY TRADING ADVISOR RECEIVE A DISCLOSURE DOCUMENT AT OR PRIOR TO THE TIME AN ADVISORY AGREEMENT IS DELIVERED AND THAT CERTAIN RISK FACTORS BE HIGHLIGHTED, UNLESS AN EXEMPTION FROM THESE REQUIREMENTS APPLIES.  MAPLERIDGE CAPITAL OPERATES UNDER AN EXEMPTION  FROM CERTAIN DISCLOSURE REQUIREMENTS UNDER THE COMMODITY EXCHANGE ACT, AS AMENDED, BECAUSE ITS CLIENTS IN THE UNITED STATES ARE "QUALIFIED ELIGIBLE PERSONS" WITHIN THE MEANING OF RULE 4.7 OF THE CFTC.  THUS, MAPLERIDGE CAPITAL IS NOT REQUIRED TO DELIVER A DISCLOSURE DOCUMENT THAT MEETS THE REQUIREMENTS OF PART 4 OF CFTC REGULATIONS.  MAPLERIDGE CAPITAL MAY PROVIDE DISCLOSURE MATERIALS.  HOWEVER, ANY SUCH MATERIALS DELIVERED BY MAPLERIDGE CAPITAL ARE NOT REQUIRED TO BE, AND HAVE NOT BEEN, FILED WITH THE CFTC.  THE CFTC DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE.  CONSEQUENTLY, THE CFTC HAS NOT REVIEWED OR APPROVED MAPLERIDGE'S TRADING PROGRAMS OR ITS BROCHURE, DISCLOSURE MATERIALS OR ITS ACCOUNT DOCUMENTS.

YOU SHOULD CAREFULLY CONSIDER WHETHER YOUR FINANCIAL CONDITION PERMITS YOU TO PARTICIPATE IN A COMMODITY POOL. IN SO DOING, YOU SHOULD BE AWARE THAT FUTURES AND OPTION TRADING CAN QUICKLY LEAD TO LARGE LOSSES AS WELL AS GAINS. SUCH TRADING LOSSES CAN SHARPLY REDUCE THE NET ASSET VALUE OF THE POOL AND CONSEQUENTLY THE VALUE OF YOUR INTEREST IN THE POOL. IN ADDITION, RESTRICTIONS ON REDEMPTIONS MAY AFFECT YOUR ABILITY TO WITHDRAW YOUR PARTICIPATION IN THE POOL.

FURTHER, COMMODITY POOLS MAY BE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY AND BROKERAGE FEES. IT MAY BE NECESSARY FOR THOSE POOLS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. THE DISCLOSURE DOCUMENT, IF ONE IS REQUIRED, GENERALLY CONTAINS A COMPLETE DESCRIPTION OF THE PRINCIPAL RISK FACTORS, EACH EXPENSE TO BE CHARGED A POOL AND A STATEMENT OF THE AMOUNT, AS A PERCENTAGE RETURN AND DOLLAR AMOUNT, NECESSARY TO BREAK EVEN, THAT IS, TO RECOVER THE AMOUNT OF YOUR INITIAL INVESTMENT.

THE REGULATIONS OF THE CFTC REQUIRE THAT PROSPECTIVE INVESTORS RECEIVE A DISCLOSURE DOCUMENT AT OR PRIOR TO THE TIME A SUBSCRIPTION AGREEMENT IS DELIVERED AND THAT CERTAIN RISK FACTORS BE HIGHLIGHTED, UNLESS AN EXEMPTION FROM THESE REQUIREMENTS APPLIES.  MAPLERIDGE CAPITAL MAY OPERATE UNDER AN EXEMPTION THAT PERMITS REGISTERED COMMODITY POOL OPERATORS TO TREAT A COMMODITY POOL FOR WHICH IT ACTS AS A POOL OPERATOR AS AN EXEMPT POOL, IN WHICH CASE IT WOULD NOT BE REQUIRED TO DELIVER ANY DISCLOSURE DOCUMENT OR A CERTIFIED ANNUAL REPORT, UNDER PART 4 OF CFTC REGULATIONS.  IF IT OPERATES UNDER AN EXEMPTION FROM PART 4 DISCLOSURE REQUIREMENTS BECAUSE A COMMODITY POOL FOR WHICH IT ACTS AS COMMODITY POOL OPERATOR IS LIMITED TO "QUALIFIED ELIGIBLE PERSONS" WITHIN THE MEANING OF CFTC RULE 4.7, AN OFFERING MEMORANDUM FOR THE POOL IS NOT REQUIRED TO BE, AND WILL NOT BEEN, FILED WITH THE CFTC. THE CFTC DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A POOL OR UPON THE ADEQUACY OR ACCURACY OF AN OFFERING MEMORANDUM.  CONSEQUENTLY, THE CFTC HAS NOT REVIEWED OR APPROVED ANY MAPLERIDGE OFFERING OR ANY OFFERING MEMORANDUM FOR A MAPLERIDGE POOL.

PLEASE CAREFULLY REVIEW THESE IMPORTANT STATEMENTS.