WEBCAST TERMS

Enclosed in this email is the quarterly investor letter for the Centerbridge Partners, L.P. fund in which you are invested.

The information included on this site, including any text, images, audio, video, data, tools, documents, attachments and other information, is strictly confidential and privileged work product and is available to you only for the limited purposes of inquiry and review in your capacity as an investor or potential investor in one or more of the Centerbridge Partners, L.P. (“Centerbridge”) sponsored investment fund(s) (each, a “Fund” and collectively, the “Funds”). The information is intended for individual use only and is protected by copyright owned by Centerbridge or its affiliates. You may view the content on this site individual records for the purposes described above, but (i) mass download of information from this site, (ii) altering information from this site, (iii) recording information from this site and/or (iv) distribution to any third party of any information from this site in any manner is strictly prohibited.

By registering, you agree that, unless otherwise already agreed in a separate writing executed by you and Centerbridge (including the applicable limited partnership agreement of the Fund if you are admitted as a limited partner in the Fund) and except as required by law or legal process, you will maintain the confidentiality of any information provided on this site (including information regarding any entity in which Centerbridge holds, or contemplates acquiring, any investments) in accordance with such procedures as you apply generally to information of this kind, and shall use such non-public information solely in connection with the evaluation and / or monitoring of an investment or prospective investment in a Fund or other similar collective investment vehicle and you agree in that regard not to trade in securities on the basis of any such information; provided, that the foregoing shall not limit your ability to provide access and / or furnish any such information to (i) your affiliates or advisors or (ii) examiners, auditors, inspectors, attorneys, or persons with similar responsibilities or duties of a nationally recognized industry self-regulatory association, federal or state regulatory body or federal, state or local taxation authority (each, an “Agent”); provided further, that you shall be liable to Centerbridge for any such affiliate’s, advisor’s or Agent’s failure to comply with the foregoing (unless you receive a written undertaking (such undertaking being enforceable by Centerbridge) from such affiliate, advisor or Agent to maintain the confidentiality of such information); provided further, that if information is required to be disclosed pursuant to law or legal process, you will provide Centerbridge with (i) a written opinion of counsel detailing the scope of the required disclosure and (ii) a reasonable opportunity to review the disclosure before it is made and to interpose its own objections to or seek to limit the disclosure.

By registering, you agree that you: (i) to the extent you have been provided with a webcast link, are the investor or prospective investor to which the webcast link you utilized to log in was assigned by Centerbridge or an authorized agent of such investor or prospective investor; (ii) are, or if you are acting as the authorized agent for the investor or prospective investor, the investor or prospective investor is, both, (a) a “qualified purchaser” within the meaning of the U.S. Investment Company Act of 1940, as amended, and (b) an “accredited investor” as such term is defined in Rule 501(a) of Regulation D promulgated under the U.S. Securities Act of 1933, as amended, and otherwise qualify for analogous “private placement” exemptions under applicable foreign law; (iii) have reviewed and agree to abide by, and have abided by, each of the terms set forth herein; and (iv) understand that you are solely responsible for the proper use and safekeeping of your password and any consequences that result from the unauthorized use of your password.

Current performance may be lower or higher than any performance data presented. You should bear in mind that past performance is not necessarily indicative of future results. There can be no assurance that any Centerbridge Fund or portfolio company described herein will achieve comparable results or that any Centerbridge Fund or portfolio company will be able to implement its investment strategy and investment approach or achieve its investment objective or the potential outcomes which may be described on this site within the timeframes contemplated or at all.

The information presented in or referred to on this site is summary in nature and does not purport to include a complete description of the companies named herein, of the portfolio of any Fund or the risks associated with the investments described herein or an investment in any Fund.

The selected examples and case studies presented in or referred to on this site may not be representative of all transactions of a given type or of investments generally, and are merely intended to be illustrative of some of the types of investment techniques or transaction types that may be made or used by a Fund employing the investment strategies discussed herein. Prospective investors and investors also should note that the selected examples, case studies and / or transaction summaries presented in or referred to in this site may not have involved all of the Centerbridge professionals who will be involved with the management and operations of any given Fund and involved other Centerbridge personnel who will not be involved in the activities of such Fund. In addition, certain selected examples and case studies may not be investments made in recent investment cycles. There can be no assurance that a Fund will be able to obtain comparable returns, be able to implement its investment strategy, achieve its investment objective or avoid substantial losses.

Statements contained herein that are not historical facts are based on current expectations, estimates, projections, opinions, and / or beliefs of Centerbridge. Such statements are not facts and involve known and unknown risks, uncertainties, and other factors. Prospective investors and investors should not rely on these statements as if they were fact. Moreover, certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “could,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” “target,” “plan” or “believe” (or the negatives thereof) or other variations thereon or comparable terminology. Such information is inherently less reliable. Due to various risks and uncertainties, actual events or results or the actual performance of any Fund may differ materially from those reflected or contemplated in such forward-looking statements, which may arise from a variety of factors, including general economic conditions, as well as factors specific to each of the investments discussed on this site, including factors identified in any registration statements and reports filed by the companies with the U.S. Securities and Exchange Commission (the “SEC”) or other regulatory bodies. As a result, such forward-looking statements should not be relied upon such forward-looking statements in making any investment decisions. No representation or warranty is made as to future performance or such forward-looking statements. None of the information contained herein has been filed with the SEC, any securities administrator under any securities laws of any U.S. or non-U.S. jurisdiction or any other U.S. or non-U.S. governmental or self-regulatory authority. No such governmental or self-regulatory authority will pass on the merits of an investment in any Centerbridge Fund or the adequacy of the information contained herein. Any representation to the contrary is unlawful.

In preparing the information presented, including the estimates and other forward-looking statements provided on this site, Centerbridge has relied without independent verification on certain information prepared or provided by third parties and has made various assumptions. Further information regarding the assumptions underlying any such estimates and forward-looking statements is available upon request. The timing and outcome of any investment made by any Fund is uncertain; actual results will differ and such differences could be material.

Any opinions, advice, statements, services, offers or other information or content expressed or made available by third parties are those of such third party and do not necessarily state or reflect those of Centerbridge.

Certain economic, market and other information contained herein (including forward-looking statements and information) has been obtained from published and non-published sources and / or prepared by other parties and in certain cases has not been independently verified or updated through the date hereof. While such sources are believed to be reliable for the purpose used herein, none of Centerbridge or any of its respective directors, officers, employees, partners, members, shareholders or their affiliates or any other person assumes any responsibility for the accuracy or completeness of such information. Such information may not be updated through the date hereof and none of Centerbridge nor any of its respective directors, officers, employees, partners, members, shareholders or their affiliates or any other person shall have any obligation to update or otherwise revise such information or any other information contained herein. Additional source information is available upon request.

Information on this site is provided to you upon your request and on a confidential basis for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase interests in any Fund. Any such offer or solicitation is made only pursuant to such Fund’s Confidential Private Placement Memorandum (as amended, supplemented and/or restated from time to time, the “Memorandum”), which describes the significant risks and other important information related to an investment in a Fund, qualifies in its entirety the information contained on this site and should be read carefully prior to subscribing for interests in such Fund for a description of the merits and risks of an investment therein. Any decision to invest in a Fund should be made after reviewing the Memorandum together with Centerbridge’s Form ADV Part 2A (CRD #157359), which is available on this site and on the SEC’s website (http://www.adviserinfo.sec.gov/), conducting such investigations as you deem necessary and consulting your own advisors in order to make an independent decision with respect to the legal, tax, regulatory, financial, accounting and other similar consequences and suitability of an investment in the Funds. None of the Funds nor any of their respective affiliates make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein should be relied upon and must not be taken as solely as the basis for any investment decision or as a promise or representation as to past or future performance of a Fund or any other entity. An investment in a Fund entails a high degree of risk. Unless otherwise indicated, any information contained on this site is as of the date indicated therein, if applicable. The posting of any information on this site does not imply that the information contained therein is correct as of any time subsequent to the date of such information. By accessing information on this site, you acknowledge and agree to promptly return to Centerbridge any information that you or your affiliates or advisors have downloaded or printed upon request by Centerbridge. Centerbridge reserves the right to terminate at any time and without notice any user’s access to this site. Potential investors should not construe the information on this site as financial or other advice, and each potential investor should consult with its advisors with respect to any issues concerning an investment in the Fund.

Centerbridge is a registered investment adviser with the SEC. However, interests in the Funds have not been registered with the SEC or any other regulatory authority in any other jurisdiction, nor is such registration contemplated. There may be legal requirements in various countries and jurisdictions which may restrict a user’s access to this site. Persons who obtain access to this site should inform themselves about and observe any restrictions imposed in the jurisdiction in which this site is accessed.

YOUR CONTINUED USE OF THIS SITE FOLLOWING THE POSTING OF ANY CHANGES TO THE TERMS CONTAINED HEREIN CONSTITUTES ACCEPTANCE OF SUCH NEW OR MODIFIED TERMS.

Notice for Consultants and Advisors:

If you are an advisor or consultant who provides investment advice, sourcing or other similar consulting services to one or more clients, you may not disclose in any way information from this site or provide access to such information or this site, except to persons who are your clients (and not any prospective clients of yours) and in the case of each client: (i) who you have first ascertained is qualified to invest in the Fund (i.e., is a “qualified purchaser” within the meaning of the U.S. Investment Company Act of 1940, as amended, and an “accredited investor” within the meaning of the U.S. Securities Act of 1933, as amended, (ii) with whom you have first entered into a written agreement directly with Centerbridge or with you (under which Centerbridge will become a third party beneficiary) to protect the information presented on this site on a basis at least as strict as set forth or incorporated herein and (iii) whose identity has been disclosed in writing to Centerbridge prior to receipt of any information presented herein (a “Permitted Offeree”). Moreover, you may use such information solely in connection with advising Permitted Offerees in connection with assisting such persons in their evaluation of an investment or prospective investment in the Fund.

Notice for Prospective Investors Resident in or with Registered Office in the EEA

Prospective investors resident in the European Economic Area (“EEA”) should be aware that neither Centerbridge nor any of its affiliates has registered with any EEA regulatory authorities to market the Funds anywhere within the EEA. Consequently, Centerbridge is not subject to the Alternative Investment Fund Managers Directive (“AIFM Directive”).

You have been provided access to this site because you, on your own initiative, requested information from Centerbridge about Centerbridge and the Funds, and this has been determined by us to be your reverse solicitation, meaning that where you have requested access to this site at your initiative we may provide the materials provided on this site to you outside the scope of the AIFM Directive requirements applicable in your EEA jurisdiction. By clicking on “agree” and, if applicable, continuing to enter into discussions with us you are acknowledging that you have requested this information. Please note also that you will be required to represent in your subscription documents, should you elect to invest in the Funds, that you requested all marketing materials at your own initiative and that Centerbridge has not marketed to you other than at your own request.

The information provided on this site may include information about certain Funds in which you are not currently invested, in which you may not be eligible to invest and / or about which you may not have requested information. Such information is being provided for your due diligence purposes with respect to the Fund in which you are contemplating and / or hold an investment and Centerbridge (and, in certain instances, such information may include the rights of investors in other Centerbridge Funds that generally invest alongside the Fund in which you are contemplating and / or hold an investment).

You acknowledge and agree that due to the unique nature of the information contained on this site, any breach of the terms of this site agreement would result in irreparable harm to Centerbridge for which there is no adequate remedy at law, and therefore, that upon any such breach or any threat thereof, Centerbridge shall be entitled to seek injunctive or equitable relief, in addition to damages and any other the remedies available to it at law, without the requirement of posting a bond, as may be deemed proper by a court of competent jurisdiction.

This site agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to the conflict of law provisions thereof, and both parties consent to jurisdiction by the state and federal courts sitting in the County of New York in the State of New York. The parties hereto waive the right to a jury trial with respect to any cause of action arising under this site agreement.

Last Revised: April 2020

Privacy Policy

PRIVACY POLICY

At Centerbridge Partners, L.P. (“Centerbridge,” “our,” “us” or “we”), we recognize how important your privacy is to you, and we are committed in our efforts to keep your personal information secure. This Privacy Policy (“Policy”) sets forth our policies with respect to information you provide to us or that we otherwise receive and seeks to help you understand how we collect, use, and manage any information we collect about you when you visit any website owned by Centerbridge that links to this Policy (the “Site”) or when you otherwise interact with Centerbridge.

PLEASE READ THIS POLICY CAREFULLY BEFORE USING THE SITE. WE CAN UPDATE THIS POLICY AT ANY TIME. ANY CHANGES WILL BE EFFECTIVE ONCE POSTED HERE, AND THE UPDATED POLICY WOULD GOVERN ANY AND ALL USE BY YOU OF THIS SITE. IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS STATED IN THIS POLICY, DO NOT USE THE SITE.

If you are a California resident, please read our Privacy Notice for California Consumers below.

Information we collect.

When you visit this Site or otherwise interact with us, Centerbridge may collect three types of information about you: data you provide to us directly (e.g., where you access this website, contact us via email or other methods, or otherwise make information available electronically or through other means); data we collect about you from other sources; and data that may be provided to us from third-party sources. In addition, we may automatically collect information when you visit our Site. This information may include your Internet Protocol (IP) address, Internet Service Provider (ISP), domain name, browser type, date and time of your interaction with us and information provided by tracking technologies, such as cookies, JavaScript and other similar technologies (“Automatically Collected Information”). Tracking technologies help to collect session information, including page response times, download errors, length of visits to certain pages, page interaction information (e.g., scrolling, clicks, and mouse-overs), and methods used to browse away from the page. Users can control the use of cookies at the individual browser level. If you reject cookies, you may still use the Site, but your ability to use some features or areas of the Site, and our ability to provide you with services or resources based on the information we have collected, may be limited. Please see our Cookie Policy, here.

How we use the information we collect about you.

We may use information you give us for the following legitimate interests: to communicate with you, to respond to your inquiries and to provide you with any information you have requested, to provide for the administration of our business and to aid in recruitment efforts/process job applications. We may also use information for the following other lawful purposes: to fulfill our regulatory and/or legal obligations and to process information with your consent. We also may use Automatically Collected Information to better understand how our visitors use the Site, and analyze their demographics, interests and behavior, to improve the content of the Site, the user experience and to manage and further develop our business. Centerbridge will not sell or market Automatically Collected Information to non-affiliated third parties for their marketing purposes. However, we are not restricted or limited in our ability to disclose aggregated statistics about visitors to this Site, along with specific information concerning individual visitors of this website, provided that no specific individual can be identified by the information disclosed.

How we share the information we collect.

We may share your personal information with our affiliates for the management and administration of our business. We may also provide your personal data to third-party service providers such as accountants, auditors, lawyers or other outside professional advisors to Centerbridge (subject to binding contractual obligations of confidentiality), or as required to do so to comply with legal or regulatory obligations or for other legal reasons, including protection of our proprietary and other rights. Service providers who may come into contact with information covered by this Policy are expected to and, in certain cases, directed to safeguard such information and use such information solely for the provision of services to us.

How we safeguard and protect the information we collect.

We have implemented appropriate technical and organizational security measures designed to protect your personal information against accidental or unlawful destruction, loss, alteration, unauthorized disclosure, unauthorized access, or other unlawful or unauthorized forms of processing, in accordance with applicable law, including as it relates to transferring information to other countries for purposes as described above.

Data accuracy, minimization and retention.

We take all reasonable steps to ensure that the personal information we store reflects any updates you have provided, that your data is limited to that which is reasonably necessary in connection with the purposes set out in this Policy, and that your data is only processed for the limited period necessary for the purposes set out in this Policy and for our legal obligations for record retention.

Data transfer.

If you are located in the United Kingdom or European Economic Area (“EEA”), we may transfer the personal information we collect about you to our affiliates and other recipients in countries outside the United Kingdom or EEA (such as the United States). We have put in place appropriate safeguards with respect to such transfers.

Your rights.

You have a number of legal rights in relation to the personal data we hold about you, including the right of access to your personal data, the right to request the correction of inaccuracies, the right to request the deletion or restriction of processing of your personal data, the right to withdraw consent and the right to lodge a complaint with data protection authorities. Should you have any questions, comments or concerns about our privacy practices or your personal information, please contact legalnotices@centerbridge.com.

If you are located in the UK, you may also contact our representative in the UK: Centerbridge Partners Europe, LLP, 10 New Burlington Street, 2nd Floor, London W1S 3BE. If you are located in the EEA, you may also contact our representative in the EU: Centerbridge Partners
Luxembourg S.à r.l., 9 Allée Scheffer, 2520 Luxembourg.
Current and prospective investors should also reference the Centerbridge Client Privacy Notice for the Centerbridge Funds which Centerbridge separately makes available.

Q2 2021 Edition

Privacy Notice For California Consumers

Last updated: February 2024

Download privacy notice for California Consumers

This notice contains disclosures required by the California Consumer Privacy Act, as amended by the California Privacy Rights Act (“CPRA”). Terms defined in the CPRA have the same meaning when used in this notice. This notice is only relevant to California residents (“consumers” or “you”), and applies only to the collection or other use of “personal information” that is subject to the CPRA. Consumers with disabilities may request an alternative format of this notice by calling the number found at the bottom of this notice.

Information We Collect. In the past 12 months, we have collected and disclosed for a business purpose the following categories of personal information (“Personal Information”):

Category	Examples
Identifiers	A real name, alias, email address, postal address, Internet Protocol (IP) address, account name, Social Security number, driver’s license number, passport number, or other similar personal identifiers.
Other personal information categories, as listed in the California Customer Records Statute	A signature, physical characteristics or description, telephone number, insurance policy number, education, employment, employment history, bank account number, credit card number, debit card number, or any other financial information, medical information, or health insurance information.
Protected classification characteristics under California or federal law	Age (40 years or older), race, color, national origin, religion, disability, sexual orientation, medical condition, ancestry, citizenship, marital status, sex/gender, or veteran or military status.
Commercial information	Records of your receipt and payment for services and of personal property.
Internet or other similar network activity	Information on your interaction with our website, social media accounts, or electronic communications we send to you.
Sensory data	Audio and visual Information, such as your voice and likeness as captured in photographs, video, or audio recordings for audio and video meetings, as well if you attend our events, visit our offices, or leave us a voicemail.
Professional or employment-related information	Current or past job history or performance evaluations.
Non-public education information	Records concerning your education maintained by or on behalf of an educational institution, such as transcripts.
Inferences drawn from other personal information	Profile reflecting a person’s preferences, abilities, and aptitudes.
Sensitive personal information	A consumer’s SS, driver’s license, state ID card, or passport number; account log-in or debit/credit card number in combination with any access code, password, or account credentials; precise geolocation; racial/ethnic origin, religious/philosophical beliefs, or union membership; contents of mail, email, and text messages; genetic data; biometric information; PHI; or sex life or sexual orientation.

Personal Information does not include information that is publicly available, de-identified/ aggregated, or subject to Health Insurance Portability and Accountability Act (HIPAA) or the Gramm-Leach Bliley Act (GLBA).

We collect Personal Information from the following categories of sources:

Your communications with us;
By observing your actions on our website;
Service providers, including, but not limited to: administrators, lenders, banks, brokers, auditors, law firms, consultants, placement agents, employment agencies, credit bureaus;
Affiliates not under the Centerbridge Partners brand;
Portfolio companies;
Nonprofit organizations; and
Government entities.

We do not knowingly sell or share with third parties (for cross-context behavioral advertising) Personal Information from anyone under the age of 16.

Purpose for Collection and Use of Personal Information. We may collect or use Personal Information for one or more of the following purposes:

Providing you with information about our products and services;
Providing you with performance and other updates;
One or more of the following business purposes:
- Performing services (for us or our service provider or contractor) such as account servicing, processing orders and payments, and analytics;
- Legal compliance;
- Detecting and protecting against security incidents, fraud, and illegal activity;
- Debugging;
- Internal research for technological improvement;
- Internal operations;
- Activities to maintain and improve our services; and
- Short-term, transient use, such that the Personal Information is not disclosed to another third party and is not used to build a profile about you.

Disclosing Personal Information. We may disclose Personal Information to:

Service providers, including but not limited to: administrators, lenders, banks, brokers, auditors, law firms, consultants, placement agents, employment agencies, credit bureaus;
Affiliates;
Business partners;
Legal or government regulatory authorities as required by applicable law;
In connection with a potential business transfer; and
Third parties to whom you or your agents authorize us to disclose such information in connection with services we provide to you.

In the past 12 months, we have not sold or shared (for cross-context behavioral advertising) Personal Information to third parties.

Length of Time. We will keep your Personal Information for as long as necessary to comply with our regulatory obligations.

Rights of California Consumers. The CPRA provides a California consumer the following rights, subject to certain exceptions and limitations:

The right to request: (a) the categories and specific pieces of Personal Information we collect about you; (b) the categories of sources from which we collect your Personal Information; (c) our business or commercial purposes for collecting, selling or sharing your Personal Information; (d) the categories of Personal Information disclosed for a business purpose or shared with third parties (for cross-context behavioral advertising) and the categories of persons to whom it was disclosed or shared; (e) the categories of your Personal Information (if any) that we have either sold, shared, or disclosed.
The right to request that we delete your Personal Information, subject to certain exceptions.
The right to opt out of our sale(s) (if any) of your Personal Information to third parties or sharing with such third parties for the purpose of cross-context behavioral advertising.
The right to request we correct any inaccurate Personal Information maintained about you.
The right to limit our use of your sensitive personal information to only use that is necessary to perform the services expected or provide the goods reasonably expected.
The right not to receive discriminatory treatment for exercising your CPRA rights.

You may submit requests relating to your exercise of CPRA rights to us via:

phone 212-672-5000

email legalnotices@centerbridge.com

You may only make a verifiable request for access or data portability twice within a 12-month period. All verifiable requests must provide (1) enough information that allows us to reasonably verify you are the person about whom we collected Personal Information or an authorized agent and (2) sufficient detail that allows us to properly evaluate and respond to it. We may need to request additional information from you to verify your identity or understand the scope of your request. If we are unable to verify your identity, we will need to deny your request. You may designate an authorized agent to make a CPRA request on your behalf and we reserve the right to seek proof that you have given the authorized agent signed permission to act on your behalf.

We endeavor to respond to a verifiable request within 45 days of its receipt. If we require more time, we will inform you of the reason and extension period in writing. We will deliver our written response by mail or electronically, at your option.

Questions

If you have questions regarding this Notice, please contact us at legalnotices@centerbridge.com.