IMPORTANT NOTES AND CERTAIN RISKS OF INVESTING IN Greifenberg. This presentation is highly confidential and is not to be reproduced or distributed to persons other than the recipient (other than professional advisors of the recipient), and is intended solely for the recipient’s internal use. It has been prepared solely for informational purposes is qualified in its entirety by the information included in the Confidential Private Placement Memorandum  of the Fund (“Memorandum”) and the Limited Partnership Agreement of the Fund (the “Partnership Agreement”) and is not intended to be, nor should it be construed or used as investment, tax or legal advice, any recommendation, or as an offer to sell, or a solicitation of an offer to buy or sell, an interest in the Fund (the “Interests”) or any other security or instrument or to participate in any investment strategy. No sale of the Interests will be made in any jurisdiction in which the offer, solicitation, or sale is not authorized or to any person to whom it is unlawful to make the offer, solicitation or sale. If any such offer of the Interests is made, it will be made pursuant to the Memorandum that contains material information not contained herein and to which qualified prospective investors will be referred.

Moreover, the specified terms applicable to the Interests described generally herein, and offered in the Memorandum, will be governed by the terms of the Partnership Agreement and all information provided herein is qualified with respect thereto. Any decision to invest in the Interests should be made solely on reliance upon the Memorandum and the Partnership Agreement.

No representation or warranty (express or implied) is made or can be given with respect to the accuracy or completeness of the information in this presentation, or that any future offer of the Interests or other securities by the Fund will conform to the terms generally described herein. No person has been authorized to make any representations concerning the Interests generally described herein that are inconsistent with the statements in this presentation, the Memorandum, or the Partnership Agreement. Prospective investors should not rely on this report or on any other information that is not contained in the Memorandum or the Partnership Agreement in making any investment decisions

Any descriptions involving investment process, models, statistical analysis, investment strategies, and styles are provided for illustration purposes only, may not be fully indicative of future investments, and are not intended to reflect actual performance or to project performance.  Investments for the Fund are selected by, and will, vary in the sole discretion of Greifenberg and are subject to availability and market conditions, among other things.  No representation is made that the Investment Manager or the Fund’s risk management, investment process or investment objectives will or are likely to be achieved or successful or that the Fund or any of its investments will make any profit or will not sustain losses.

Fund, any simulated performance, portfolio or return targets or objectives are used for illustration, measurement or comparison purposes and only as an aid or guideline for prospective investors to evaluate a particular investment program’s investment strategies and accompanying information.  Such targets or objectives reflect subjective determinations by the Investment Manager based on a variety of factors, including, among others, investment strategy, prior performance of similar products and strategies (if any), volatility measures, risk tolerance and market conditions.  Performance may fluctuate, especially over short periods.  Targeted returns should be evaluated over the time period indicated and not over shorter periods.  Simulated or Targeted returns are not intended to be actual performance and should not be relied upon as an indication of actual or future performance.

Any assumptions, assessments, intended targets, statements or the like (collectively, “Statements”) regarding future events or which are forward-looking constitute only subjective views, outlooks, estimations or intentions, are based upon the Investment Manager’s expectations, intentions or beliefs, should not be relied on, are subject to change due to a variety of factors, including fluctuating market conditions and economic factors, and involve inherent risks and uncertainties, both general and specific, many of which cannot be predicted or quantified and are beyond the Investment Manager’s or the Fund’s control.  Future evidence and actual results (including actual composition and investment characteristics of Fund portfolios) could differ materially from those set forth in, contemplated by, or underlying these Statements.  In light of these risks and uncertainties, there can be no assurance and no representation is given that these Statements are now or will prove to be accurate or complete in any way.  The Investment Manager undertakes no responsibility or obligation to revise or update such Statements

Historical performance is not indicative of future performance. All investments have risk. The size of the position, underlying company, level of capitalization, and type of business may affect the level of risk inherent in a particular investment. Please consider the Fund’s investment objectives, risks, charges, and expenses carefully before investing. For more complete information about the Fund or current performance, you may obtain a copy of the Memorandum and Partnership Agreement. Read the Memorandum and the Partnership Agreement carefully before you invest. The Memorandum contains investment objectives, risks, charges, expenses, and other important information about the Fund that may not be detailed in this presentation.

The Fund has a limited operating history. No representation or assurance is being made that the Fund will be able to achieve its targeted returns, results, or asset allocation, or that the Fund will be able to implement its strategy or achieve its objectives. Statements contained in this presentation that are not historical facts are based on current expectations, estimates, projections, and opinions of the Fund and the Investment and include “forward looking” statements. Such statements involve assumptions and known, and unknown risks and uncertainties and such statements are not necessarily indicative of future performance or results of the Fund. Actual events, performance or results may differ materially from those reflected or contemplated in this presentation. Performance may fluctuate, especially over short periods.  Targeted returns should be evaluated over the time period indicated and not over shorter periods.  Targeted returns are not intended to be actual performance and should not be relied upon as an indication of actual or future performance.

Additionally, this Presentation contains Statements about the past performance of investments made by the Fund, service providers and/or certain of the management team. Such performance is not necessarily indicative of future performance or results of the Fund either. Certain economic, market and other information contained herein has been obtained from published sources prepared by third parties. While such sources are believed to be reliable, the Fund does not assume any responsibility for the accuracy or completeness of such information. Investment in the Fund is subject to significant risks due to, among other things, the nature of the Fund’s investments.

Additionally, the investment return and principal value of the Fund will fluctuate and may be worth more or less than the original cost when liquidated. Prior investment environments and market conditions may be markedly different from those of the present and future periods. Investment returns of the Fund will fluctuate in value. There can be no assurance that the Fund will achieve positive returns in future periods. In comparing the Fund’s past and future potential performance to any market indices, prospective investors in the Fund should note that many indices are highly diversified and generally represent only unmanaged results of long investments. The Fund may not be as diversified as any of these indices, and, unlike some of these indices, may sell securities short and may use options and other derivatives as part of its investment strategy.  Because of these differences, no index is directly comparable to the investment strategy of the Fund.

Certain information has been provided by and/or is based on third party sources and although believed to be reliable has not been independently verified and its accuracy, timeliness or completeness cannot be guaranteed.

This presentation may contain information that is confidential, privileged, and protected from disclosure. If you are not the intended recipient, you are hereby notified that any dissemination, distribution, copying or use of the information contained is strictly prohibited.  This presentation is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. If this presentation has been received via e-mail, the recipient should check this email and any attachments for the presence of viruses. The Fund accepts no liability for any damage caused by any virus transmitted by this e-mail. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. If you received this presentation in error, please immediately contact the sender and destroy the material in its entirety.

This risk disclosure in this report is not complete and is not a complete list of the risks and other important disclosures involved in investing in the Fund and is subject to the more complete disclosures contained in the Memorandum and the Partnership Agreement, which must be reviewed  carefully. The information contained herein does not take into account the particular investment objectives or financial circumstances of any specific person who may receive it. Before making an investment in the Fund, prospective investors are advised to thoroughly and carefully review the Memorandum and the Partnership Agreement with their financial, legal and tax advisors to determine whether an investment is suitable for them. An investment in the Fund is not suitable for all investors. Any information provided herein is as of the date(s) indicated, is not complete, is subject to change, and does not contain material information regarding the Fund, including specific information relating to an investment in the Fund and related important risk disclosures.  The Fund is an unregistered private investment vehicle that invests and trades in many different markets, strategies and instruments and is NOT subject to the same regulatory requirements as mutual funds, including mutual fund requirements to provide certain periodic and standardized pricing and valuation information to investors.  An investment in the Fund may involve a high degree of risk and volatility including, without limitation, risk of adverse or unanticipated market developments, currency and exchange rate risks, risk of broker or bank failure or counterparty or issuer default, and risk of illiquidity.