DOLPHIN TRUST GMBH A PRUDENT INVESTMENT OPPORTUNITY

FOR DISCERNING INDIVIDUALS

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Short Term Investment Term options of 2 & 5 years Entry level Interest fixed at 10% per annum Bonus of up to 10% on the Deferred Income option First legal charge on the underlying asset class Dolphin Trust has a proven track record The activity that generates the return resides in Germany Dolphin Trust welcomes any professional risk assessment

rIvull DOLPHIN TRUST

www.dolphin-trust.com Please visit the Dolphin Trust website at wwdo1phin-trust.com

for more information, including the Risks & Disclaimer.

DOLPHIN TRUST

IMPORTANT MESSAGE TO PROSPECTIVE INVESTORS Dolphin Trust GmbH, no associated Group Company or Accredited Introducer is authorised or regulated by the Financial Services Authority (FSA) in the UK under the Financial Services & Markets Act 2000 ("FSMA"). Any person that chooses to consider the Dolphin Trust Investment opportunity must satisfy themselves that they can afford to absorb the risks and understand that this Investment involves the provision of secured loan capital that is then used for the purposes of Investment in selected German Listed Building projects, for the purpose of renovation and sale. UK Investors are not purchasing German Property for their own occupancy or for their own rental income stream.

Determining what sort of provision to make for one's retirement can be a complex matter and as such, Prospective Investors should always seek independent financial advice from an appropriately authorised and qualified person. If requested, Dolphin Trust can direct prospective Investors towards the services of suitably qualified Independent Financial Advisors for such purposes.

No business undertaken by any Investor directly with Dolphin Trust or a Group Company is protected by the UK Financial Services Compensation Scheme or the Financial Ombudsman Scheme. No Investment will be accepted by Dolphin Trust unless Investors have signed to confirm their understanding of the Investment and the associated Terms & Conditions. Nothing written in this document should be construed or interpreted as Investment or private pension advice. The full Risks Summary related to Dolphin Trust can be found on the website at www.dolphin-trust.com .

1. WHO IS DOLPHIN TRUST GMBH? Dolphin Trust is a respected German Company that operates a tried and tested Investment operation for discerning clients in the United Kingdom and other parts of the world. With a network of offices in the UK, Ireland, Germany and Singapore they have a strong global reach and were awarded a 'Good Solvency' rating from Creditreform.

Creditreform are an independent company who perform commercial reports on companies. Dolphin request reports on a regular basis to use as part of their Due Diligence file. In this,

Credit Rating Certificate

areas of the business which are analysed are Solvency, Shareholder information, Annual Sales and Balance Sheet information. The assessment of creditworthiness and credit risk is based on a rating system, i.e. the Creditreform Solvency Index. In 2014, Dolphin scored 215 on this index which indicates 'Good Solvency'.

2. THE KEY CHARACTERISTICS OF THE OPPORTUNITY The most pertinent pieces of information about Dolphin Trust, their style of operation and the key characteristics of the Investment scheme are detailed below:

Dolphin Trust has been trading since 2008*. The minimum Investor Return offered by Dolphin Trust is 10% per annum A Bonus of either 2% or 10% is available on the Deferred Income option depending on the term chosen 2 & 5 year term options are available The investment is secured with a FIRST Legal Charge on the underlying asset class, which is German Listed Buildings The Dolphin Trust Investment is SIPP Approved

Dolphin Trust previously traded as Dolphin Capital GmbH. The name change to Dolphn Trust was purely for international trademark and brand protection purposes.

www.dolphin-trust.com Please visit the DoiphinTrust website at www.dolphin-trust.com

for more information, including the Risks & Disclaimer.

v` DOLPHIN TRUST 3. HOW DOES THE DOLPHIN TRUST GMBH INVESTMENT OPERATE? Dolphin Trust GmbH loans money from qualifying individuals in the United Kingdom. In return for the loan, Dolphin Trust provides the lender with a fixed interest payment. This arrangement is properly encapsulated in a legally binding loan contract between the lender and Dolphin Trust. All Investment contracts and other associated documentation has been carefully created by lawyers in the UK & Germany and has been heavily scrutinised by our SIPP Providers.

Dolphin Trust uses the loan money to fund its work with German Listed Buildings. The Company carefully sources derelict buildings that require renovation. This is because, in Germany, the German Government offers a unique tax break to encourage German citizens to purchase renovated German Listed Buildings.

The apartments within the German Listed Buildings are sold off-plan (before renovation work commences) through a well-established network of German sales agents. No German Listed Building project purchase is completed unless a Bank Mortgage is approved for the end German buyers. Development funds (i.e. the mortgage provided for the German Buyers) are released by the German Banks on a phased basis. This enables the agreed Interest repayments to be made to the Investors who provided the initial loan funds to Dolphin Trust at the outset.

4. THE INVESTMENT OPTIONS Dolphin Trust GmbH has two Investment options:

1.The Deferred Income Option

2. The Invest for Income Option

When the Deferred Income Option is chosen, an Interest Bonus of 2% is given to an Investor who chooses the 2 year option, and an Interest Bonus of 10% is given to an Investor who choses the 5 year option.

Investors choosing the Invest for Income Option over 2 & 5 years can enjoy the same interest payments (10% per annum over 5 years) but the Annual Interest is split into two and paid out six monthly. When the Invest for Income option is chosen the capital sum, that was originally invested at the start of the agreement, is returned in full to the Investor at the end of the term.

Below is the Deferred Income 5 Year Option illustration:

The illustration above does not take account of the fees applied by SIPP Providers. These fees vary dependent on the SIPP Provider chosen / used by the Investor. Dolphin Trust does not charge the Investor any administration or legal fees

www.dol phin-trust.com Please visit the Dolphin Trust website at www.dolphin-trust.com

for more information, including the Risks & Disclaimer.

Gwo DOLPHIN TRUST 5. KEY INVESTOR CONSIDERATIONS When Investors are considering making a decision to place money into any Unregulated Investment Scheme, they should make a careful analysis of the vital components of the proposed Investment.

There are several key aspects of an Investment that an Investor would benefit from examining. The chart below reveals some of the key items for consideration. The far right column in the table (below) illustrates how Dolphin Trust measures up against these areas of scrutiny.

Key item for ExplanationiI1 IP scrutiny required- : rIT1I!i9MSJ11II1IOrT1LerThII. consideration

1. Investment Term Differing personal circumstances dictates that 2 & 5 Year options everyone's attitude towards the term of Investments will be different. However, many people regard short to medium term Investments as favourable because they enable money to be released and placed into the emerging Investments that appear over time.

2. Return Is the return offered: (a) Target (b) Up to 10% per annum + Bonuses on the (c) Guaranteed or (d) Fixed? Do the contracts Deferred Income option support whatever claims are being made by the Investment Scheme Operator?

3. Security Does the Investment carry any security for All Dolphin Trust projects offer considerations the Investor? the Investor a First Legal Charge

on the underlying asset 4. Track Record Does the operator of the scheme have a track Dolphin Trust has a full track record

record they can share? available 5. Money flow Where is the Investor money sent? Who manages Investor funds are sent to Botterman

the money at different stages of the process? Khorrami, a respected Berlin based What credibility does the money management Law Firm team have?

6. Origin of activity What is the Country where the activity takes place. Germany is widely regarded as Europe's How robust is the economy in that country? What largest and most stable economy, are regulations like there? Does the industry/asset Germany is extremely well-regulated class that generates return have a trading history? from a legal and banking perspective

8. Exit How easy is it to exit at the end of the term? The exit process with Dolphin Trust is automatic. Funds will be paid directly to the specified bank account of the Investor or SIPP provider.

9. Affordability Does the Investment suit your personal financial Dolphin Trust has a low Investment entry circumstances? Can you afford it? Does it match level of 10,000. your attitude to risk?

This information sheet was provided for the Introducer Address & Contact Details attention of:

Name:

By Dolphin Trust Accredited Introducer

Name: Dolphin Number: Date:

low www.dolphin-trust.com

Please visit the Dolphin Trust website at www.dolphin-trust.com for more information, including the Risks & Disclaimer.