The following sets out the disclaimer, terms and conditions of use of the Advantage Energy Income Fund website. By using this website, you are accepting that you are bound by the disclaimer, terms and conditions below.

Any reference in this site to "Advantage", "we", "us" or "our" means Advantage Energy Income Fund.

Information in this website may contain forward-looking statements including expectations of future production and components of cash flow and earnings. Investors are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Advantage. These risks include, but are not limited to; the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to; operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The risks outlined above should not be construed as exhaustive. Investors are cautioned not to place undue reliance on any forward-looking information. Advantage undertakes no obligation to update or revise any forward-looking statements.
 

Investor Advisory
All evaluations of future net cash flows are stated before and after the provision for income taxes and prior to indirect costs and after deduction of royalties, estimated future capital expenditures and well abandonment costs and after giving effect to the Alberta Royalty Tax Credit. It should not be assumed that the present values of estimated future net cash flows shown above is representative of the fair market value of Advantage's crude oil, natural gas liquids and natural gas reserves. There is no assurance that the price and cost assumptions used in estimating such future net cash flows will be consistent with actual prices and costs and variances could be material. The recovery and reserve estimates of Advantage's crude oil, natural gas liquids and natural gas reserves provided above are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual crude oil, natural gas liquids and natural gas reserves may be greater than or less than the estimates provided herein.

BOEs may be misleading, particularly if used in isolation. A boe conversion ratio of six mcf to one barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. This conversion factor is an industry accepted norm and is not based on either energy content or current prices

Investors are further cautioned that the preparation of financial statements in accordance with Canadian generally accepted accounting principles ("GAAP") requires management to make certain judgements and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. Estimating reserves is also critical to several accounting estimates and requires judgments and decisions based upon available geological, geophysical, engineering and economic data. These estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes.

Advantage uses the terms "cash flow", "funds from operations" and "cash available for distribution" to refer to the amount of cash available for distribution to Unitholders and as indicators of financial performance. "Cash flow", "funds from operations" and "cash available for distribution" are not measures recognized by GAAP and do not have standardized meanings prescribed by GAAP. Therefore, "cash flow", "funds from operations" and "cash available for distribution" of Advantage may not be comparable to similar measures presented by other issuers, and investors are cautioned that "cash flow", "funds from operations" and "cash available for distribution" should not be construed as alternatives to net earnings, cash flow from operating activities or other measures of financial performance calculated in accordance with GAAP. All references to "cash flow" and "funds from operations" are based on cash flow before changes in non-cash working capital related to operating activities, as presented in Advantage's consolidated financial statements. Cash available for distribution cannot be assured and future distributions may vary. Advantage uses such terms and, particularly, "cash available for distribution" as an indicator of financial performance because such terms are commonly utilized by investors to evaluate royalty trusts and income funds in the oil and gas sector. Advantage believes that "cash available for distribution" is a useful supplemental measure as it provides investors with information of what cash is available for distribution from Advantage to Unitholders in such periods.

Investors are also cautioned that this presentation contains the term reserve life index, which is not a recognized measure under GAAP. Management believes that this measure is a useful supplemental measure of the length of time the reserves would be produced over at the rate used in the calculation. Investors are cautioned, however, that this measure should not be construed as an alternative to other terms such as net income determined in accordance with GAAP as a measure of performance. Advantage's method of calculating this measure may differ from other entities, and accordingly, they may not be comparable to measures used by other entities.
 

Our Liability to You
Despite all reasonable efforts, the information contained in this website may not be accurate, up to date or applicable to the circumstances of any particular case. Advantage does not make any representations or claims as to the validity, correctness, accuracy, currency, timelines, completeness or otherwise of the information contained on this website. We do not accept any liability for any inaccuracies or omissions (other than for fraudulent misrepresentation) in this website and disclaim liability for any failure to update this website or the information or any material document contained on this website. Advantage does not accept liability or responsibility for any claim, damage or loss, whether direct, indirect, special, consequential or otherwise, of any kind arising out of access to, or the use of, this website or the interpretation, use or reliance upon any information contained in it.

Additionally, the information and materials available on this website are not intended to provide specific legal, accounting, financial, investing or tax advice to any user, and any decisions you make based on information contained in this website are your sole responsibility. The documents and information available on this website are provided as a convenience only, and where any documents on this website have been filed in accordance with applicable securities laws, such documents are not the official versions of Advantage's securities laws disclosure documents, and the user is directed to obtain official copies either from applicable securities regulators or from Advantage. No information contained in this website constitutes or would be deemed to constitute an invitation to invest or otherwise deal in the securities of Advantage Energy Income Fund or an invitation by or on behalf of Advantage to enter into a contract with you.

We will review any comments you may have in relation to this website by e-mail at: advantage@advantageincome.com.

Internet software transmission problems could produce inaccurate or incomplete copies of documents or other material from this website when downloaded or displayed on a user's computer and Advantage takes no responsibility for the accuracy or completeness of documents or material downloaded or displayed from this website.

Except for the historical and present factual information contained herein, the matters discussed in this website, including words such as "expects", "project", "plans", "anticipates", "estimates" and similar expressions, are forward-looking information that represents Advantage management's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Advantage. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Advantage's actual performance and financial results in future periods to differ from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Advantage's filings with the Canadian securities authorities. Accordingly, holder of Advantage Trust Units and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Advantage disclaims any responsibility to update these forward-looking statements.
 

Ownership of Material
All of the contents of this website and downloads from it are owned directly by Advantage. The material and information on this website is being made available only under the conditions set out herein. Advantage reserves its rights to the intellectual property presented in and by this website, which includes, but is not limited to, its copyrights, trademarks and corporate logo.

It is your responsibility to obey to all applicable copyright laws. You are permitted to make copies of this website as necessary incidental acts during your viewing of it, and you may take a print for your personal use of so much of the site as is reasonable for private purposes. All other use is prohibited.
 

Use of any Hyperlink
We are not responsible for the content of any other website, including any website through which you may have gained access to our website or to which you may gain access from our website. We do not accept any liability in connection with any such sites or links. You are responsible for viewing and abiding by the privacy statements and the terms of use posted on any linked site.
 

What Law Governs This Website?
The use of this website and downloads from it, and the operation of these terms and conditions, shall be governed in accordance with the laws of Alberta, Canada. The Alberta, Canada courts shall have exclusive jurisdiction over any dispute arising out of the use of this website.

In the event that any or any part of the terms contained in these terms and conditions shall be determined by any component authority to be invalid, unlawful or unenforceable to any extent, such term shall to the extent be severed from the remaining terms which shall continue to be valid and enforceable to the full extent permitted by law.