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Clarkston Capital Partners, LLC ("Clarkston") owns and operates this website ("Site"). By registering for, logging into, visiting and/or otherwise using the Site in any way, you indicate that you understand and intend these Terms of Use to be the legal equivalent of a signed, written contract, and you accept the terms of use as set forth herein and agree to be legally bound by them. If you do not agree to these Terms of Use, please do not access this Site or any pages thereof.

Reservation of Rights We reserve the right, at our discretion, to change, modify, add, or remove portions of the Site and these Terms of Use at any time. Your continued use of the Site following such modifications will be conclusively deemed acceptance of any changes to these Terms of Use. You agree that notice of changes to these Terms of Use posted on the Site constitutes reasonable and sufficient notice. At all times, you are bound by the then-current version of the Terms of Use and of all applicable laws. Clarkston reserves the right to monitor any and all use of this Site.

Use of Content The Content (as defined below) of this Site is available for informational purposes only. The posting of Content and access to this Site does not constitute, either explicitly or implicitly, any provision of services or products by Clarkston. Decisions based on Content are your sole responsibility.

Copyright and Trademarks This Site (including the software and files), the computers hosting this Site, and content provided on this Site, including any text, music and sound, graphics, images, photographs, audio and video, footage, animations, podcasts, analyses, studies, reports, and downloads (all such content collectively, the "Content") are the exclusive property of Clarkston, are licensed to Clarkston, or are publicly copyrighted, and are protected by law, including United States copyright, database, trade secret, and trademark law, as well as other state, national, and international laws and regulations. Clarkston reserves all rights with respect to its proprietary information or material on this Site and will enforce such rights to the full extent of applicable copyright and trademark law. Except as expressly provided in these Terms of Use, Clarkston does not grant any express or implied rights to you. All rights in the pages and Site Content are owned by Clarkston and their respective licensors. You agree not to sell, distribute, publish, broadcast, circulate or commercially exploit Site Content in any manner without the express written consent of Clarkston. Any downloading or otherwise copying from this Site will not transfer title to any software or material to you. Unless otherwise noted, Clarkston, and other brands featured on the Site constitute our trade/service marks. You agree not to directly or indirectly: attempt to register, challenge or contest the validity of Clarkston's ownership of, such copyrights, trademarks or any other intellectual property of Clarkston, or assist any third party in doing so.

Grant of License Clarkston grants to you a personal, revocable, nonexclusive, nontransferable license to use this Site conditioned on your continued compliance with these Terms of Use. Limited portions of the Content available in the public areas of the Site may be accessed, printed and downloaded on an occasional basis for personal, scholarly, research or non-commercial purposes; provided that all hard copies contain all copyright and other applicable proprietary rights notices included in such content and information and/or appropriate attribution to Clarkston in a form and manner acceptable to us. For information on obtaining permission to use any Content beyond the uses permitted above, please contact Clarkston, 91 West Long Lake Road, Bloomfield Hills, MI 48304. Unless and except as otherwise expressly permitted by these Terms of Use, you may not access, copy, reproduce, modify, create derivative works of, alter, publicly distribute, republish, upload, post, transmit, publicly perform or display, license, transfer, sell, mirror, frame, "deep link," "scrape," data mine, or otherwise use any information or material obtained from or through this Site, without written permission from Clarkston. Any unauthorized use of this Site or the Content will terminate the permission granted herein and may violate applicable laws, including copyright law, trademark laws, and commercial regulations and statutes.

No Offer or Advice Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security; nor shall any such services be provided, or securities be offered or sold, in any jurisdiction in which such an offer, solicitation, provision or sale would be unlawful. All Site Content is subject to applicable statutes and regulations. This Site is published in the United States for residents of the United States. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this Site. U.S. investors are advised that not all investments or services described on this Site are available for sale in all states. Any potential investor should satisfy him or her self that use of a Clarkston service or investment in a Clarkston product is permissible under the rules and regulations of his or her domicile. The Site is not directed to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of the Site is prohibited. Persons in respect of whom such prohibitions apply must not access the Site.

The information provided is for informational purposes only. It does not constitute any form of advice or recommendation to buy, sell or hold any securities or adopt any investment strategy mentioned. It is intended only to provide observations and views of the author(s) at the time of writing, both of which are subject to change at any time without prior notice. The information provided does not have regard to the specific investment objectives, financial situation or particular needs of any specific person who may read it, and investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation. Please refer to offering documents for further information concerning specific products.

Any reference to a particular company or security is not an endorsement by Clarkston of that company or security or a recommendation by Clarkston to buy, sell or hold such security. Any securities referenced do not represent all securities purchased, sold, held, or recommended for advisory clients.

Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on Clarkston's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue" and similar expressions identify forward-looking statements. The matters discussed herein may also involve risks and uncertainties described from time to time in Clarkston's filings with the SEC. Clarkston assumes no obligation to update any forward-looking information contained herein.

Investments Past performance is no guarantee of future results. Investments may decline in value due to both real and perceived general market, economic, and industry conditions. The value of investments, and the income from them, can go down as well as up, and you may not recover the amount of your original investment. Such investments are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured or guaranteed by the U.S. government, the FDIC, the Federal Reserve Board or any other agency. Any tax benefits referred to on this Site are subject to change and their availability and value will depend on your individual circumstance.

No Reliance Although Clarkston has taken reasonable care to ensure that the information contained within this Site is accurate, no representation or warranty (including liability towards third parties), expressed or implied, is made as to its accuracy, reliability or completeness by Clarkston or its contractual partners. Opinions and any other contents at the Site are provided by Clarkston for personal use and informational purposes only and are subject to change without notice. Nothing contained on this Site constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision.

No Warranty The information and opinions contained on this Site, including hyperlinks or references to other sites, are provided 'as is' without any warranty of any kind, either expressed or implied, to the fullest extent permissible pursuant to applicable law. You are responsible for evaluating the adequacy, accuracy, reliability, merchantability, non-infringement, completeness of any information or the content available on the Site or fitness for any particular purpose with respect to the site or any of its content. Clarkston further assumes no responsibility for, and makes no warranties that, functions contained on this Site will be uninterrupted or error-free, that defects will be corrected, or that this Site or the servers that make it available will be free of viruses or other harmful components.

Liability Waiver Neither Clarkston nor any of its affiliates, directors, officers, representatives or employees, nor any third-party vendor, will be liable or have any liability, whether in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, punitive or special damages arising out of or in any way connected with your access or use or inability to access or use the Site or reliance on the Content, or any failure of performance, interruption, defect, delay in transmission, computer viruses or other harmful components, or line or system failure associated with the Site, regardless of our knowledge thereof.

Events Beyond Clarkston's Control You expressly absolve and release Clarkston and each of its officers, directors, employees, representatives, shareholders, legal representatives, attorneys, agents, successors and assigns, from any claim of harm resulting from a cause beyond its control including, but not limited to, the failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems, computer viruses or software failures, unauthorized access, theft, operator errors, severe weather, earthquakes, or natural disasters, strikes or other labor problems, wars, acts of domestic or foreign terrorism or governmental restrictions.

User Representations You represent and warrant to Clarkston that you will not use this Site for any purpose that is unlawful or prohibited by these Terms of Use, including but not limited to attempting or actually (a) disrupting, impairing or otherwise interfering with the operation or integrity of the Site or circumventing any Site security system; (b) damaging or overburdening any Clarkston server, or any network connected to any Clarkston server, as all servers have limited capacity and are used by many people; (c) interfering with another party's use of the Site; ( d) collecting any information about other users of the Site; ( e) systematically extracting Content or other information or data contained in the Site to populate databases or other sites; (f) engaging in any fraudulent or manipulative activity with respect to issuers, securities or markets; (g) using any robot, spider, intelligent agent, other automatic device, or manual process to search, monitor or copy this Site or the Content or other materials on, generated by or obtained from this Site, whether through links or otherwise, without Clarkston's permission; or (h) using this Site, the Content or any other indicator in any manner that could create an impression of affiliation, sponsorship or endorsement between any user and/or website and Clarkston.

Linked Sites Certain hyperlinks or referenced websites on the Site may for your convenience forward you to third parties' websites, which generally are recognized by their top-level domain name. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with Clarkston with respect to any linked site or its sponsor, unless expressly stated by Clarkston. Any such information, products or sites have not necessarily been reviewed by Clarkston and are provided or maintained by third parties over whom Clarkston exercises no control. Clarkston expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. Clarkston reserves the right to terminate any hyperlink or hyperlinking program at any time.

Information Submitted By You You should not submit any confidential or proprietary information via the Site. All information or material submitted through the Site will be deemed to be the property of Clarkston. By submitting any information or material to us through the Site, you grant us an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information. You also agree that Clarkston is free to use for any purpose any ideas, concepts, know-how or techniques that you submit to us through the Site. Clarkston shall not be subject to any obligations of confidentiality regarding submitted information, except as agreed to by Clarkston or as otherwise specifically agreed or required by law. Electronic communications can be intercepted by third parties and, accordingly, transmissions to and from this Site may not be secure. Communications to Clarkston, particularly those containing confidential information, may be sent by mail to: Clarkston Capital Partners, LLC, 91 West Long Lake Road, Bloomfield Hills, MI 48304.

Jurisdiction, Severability Unless otherwise specified, Clarkston controls and operates this Site from our offices within the State of Michigan, United States of America. Clarkston does not claim that materials on this Site are appropriate or available for use in locations other than the United States. If you choose to access this Site from other locations, you do so on your own initiative, and you are responsible for compliance with any applicable local laws.

The laws of the State of Michigan govern these Terms of Use, without regard to principles of conflict of laws. If you take legal action relating to the contents of this website you agree to file such action only in State courts in Oakland County, Michigan, or the United States District Court for the Eastern District of Michigan, and you consent and submit to the personal jurisdiction of those courts for the purposes of litigating any such action and further agree that they are a convenient forum for you.

In the event that any provision of these terms is held unenforceable, the validity or enforceability of the remaining provisions will not be affected, and the unenforceable provision will be replaced with an enforceable provision that comes close to the intention underlying the unenforceable provision.