Disclaimers

This presentation does not constitute an offer to sell or the solicitation of an offer to purchase any security. Recipients of this presentation agree that none of Independent Sponsor News (“ISN”) or its affiliates or its or their respective partners, members, employees, officers, directors, agents, or representatives shall have any liability for any misstatement or omission of fact or any opinion expressed herein. Each recipient further agrees that it will (i) not copy, reproduce, or distribute this presentation, in whole or in part, to any person or party including any employee of the recipient other than an employee directly involved in evaluating an investment in any funds (the “Fund or Funds”) without the prior written consent of ISN; and (ii) keep permanently confidential all information contained herein that is not already public. The information contained herein is preliminary, is provided for discussion purposes only, is only a summary of key information, is not complete, and does not contain certain material information about the Fund, including important conflicts disclosures and risk factors associated with an investment in the Fund, and is subject to change without notice. Any offer, sale or solicitation of interests with respect to the Fund will be made only pursuant to the Fund’s confidential private placement memorandum (the “Memorandum”), limited partnership agreement, and subscription agreement, and will be subject to the terms and conditions contained in such documents in accordance with applicable securities laws. This presentation is qualified in its entirety by reference to the Fund’s Memorandum, including without limitation all of the cautionary statements and risk factors set forth therein, the limited partnership agreement and the subscription agreement related thereto, copies of all of which will be made available in the future to qualified investors upon request and should be read carefully prior to any investment in the Fund. The information in this presentation is not presented with a view to providing investment advice with respect to any security, or making any claim as to the past, current or future performance thereof, and ISN expressly disclaims the use of this presentation for such purposes. Each recipient should consult its own advisers as to legal, business, tax and other related matters concerning an investment in the Fund. Past performance is not necessarily indicative, or a guarantee, of future results. Information about the Fund and prior investments made by ISN is provided solely to illustrate ISN’s investment experience, and processes and strategies. Such information is not intended to be indicative of the Fund’s future results. There can be no assurance that the Fund will achieve comparable results as those presented or that the Fund will be able to implement its investment strategy or achieve its investment objective. Investors in the Fund may lose part or all of their invested capital. Statements contained in this presentation are based on current expectations, estimates, projections, opinions and beliefs of ISN as of the date hereof. Such statements involve known and unknown risks and uncertainties, and undue reliance should not be placed thereon. Neither ISN nor any of its affiliates makes 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 as a promise or representation as to past or future performance of the Fund or any other entity. Unless otherwise noted, the information contained herein is unaudited and may be preliminary and subject to change, and ISN and its members, partners, stockholders, managers, directors, officers, employees and agents do not have any obligation to update any such information. Certain figures in this presentation have been rounded. In addition, certain information contained herein has been obtained from published and non-published sources and / or prepared by third-parties, and in certain cases has not been updated through the date hereof. While such information is believed to be reliable for the purposes of this presentation, ISN assumes no responsibility for the accuracy or completeness of such information and such information has not been independently verified by it. Certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of terms such as “may,” “will,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “projects,” “future,” “targets,” “intends,” “plans,” “believes,” “estimates” (or the negatives thereof) or other variations thereon or comparable terminology. Forward looking statements are subject to a number of risks and uncertainties, some of which are beyond the control of ISN, including among other things, the risks listed in the Memorandum. Actual results, performance, prospects or opportunities could differ materially from those expressed in or implied by the forward-looking statements. Additional risks of which ISN is not currently aware also could cause actual results to differ. In light of these risks, uncertainties and assumptions, prospective investors should not place undue reliance on any forward-looking statements. The forward-looking events discussed in this presentation may not occur. ISN undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.