LEGEND / DISCLAIMER

This letter is not an offer to sell any securities to any person or a solicitation of any person of any offer to purchase any securities. Such an offer or solicitation will be made only by the confidential offering documents of the respective fund, which will be provided by Hangar 4 Partners, LLC (“Hangar 4”) only to accredited investors. An investment in a fund involves substantial risks and there is no assurance that the funds’ investment objectives will be met.

While many of the thoughts expressed in this document are stated in a factual manner, the discussion reflects only Hangar 4’s beliefs about the securities markets in which it invests the funds’ assets. Hangar 4’s investment objectives and methods summarized herein represent its current intentions. Nevertheless, depending on conditions and trends in securities markets and the economy generally, Hangar 4 may pursue any objectives, employ any techniques or purchase any type of security that it considers appropriate and in the best interests of a client.

It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities discussed in this letter. On request, Hangar 4 will provide to you a list of all of the recommendations made by it within the past year.

The information in this letter is only a brief introduction to a few of the highlights of the funds’ confidential offering documents and omits most of the information material to a decision whether to invest in a fund. No person should rely on any information in this document, but should rely exclusively on the applicable offering documents in considering whether to invest in a fund.