General Website Disclaimers

This website from Woolly Bear Capital LLC (together with its affiliates, the "Firm", "we", or "us") is provided for informational purposes only. The information contained on this website should not be relied upon because it is incomplete and subject to change and should be treated in a confidential manner and may not be transmitted, reproduced or used in whole or in part for any other purpose.

The information on this website does not constitute an offer to sell, or a solicitation of any offer to purchase, any security or other interest in any investment fund or account managed or offered by the Firm or their affiliates or to adopt any investment strategy. Any such offer to sell, or solicitation of an offer to purchase, any security or other interest in any investment fund or account will be made solely pursuant to a confidential private placement memorandum or other offering materials issued in respect thereof and/or the limited partnership agreement and/or other governing documents, in each case of any such investment fund or account as applicable.

Investment Suitability & Risk Disclosures

Important information regarding any investment fund and its investment risks and related conflicts of interest should be read in their entirety prior to any investment in any such fund or account. The information contained on this website is qualified in its entirety by reference to the confidential private placement memorandum or other offering materials issued in respect of an investment fund and/or the limited partnership agreement and/or other governing documents in each case of any such investment fund or account, as applicable.

Investment in any fund or account is suitable only for sophisticated investors and requires the financial ability and willingness to accept the high risks and lack of liquidity inherent in such investment. Each investor in any such investment fund or account must be prepared to bear such risks for an extended period of time. No assurance can be given that the investment objectives of any such investment fund or account will be achieved or that investors will receive a return of their capital.

Accuracy & Currency of Information

The information on this website is only as current as the date received directly from the Firm and may be superseded by subsequent market events or for other reasons. None of the Firm or its affiliates are under any obligation to update the information set forth on this website subsequent to the date hereof or have any liability to any person with respect to any use of, or reliance upon, such information.

Nothing contained on this website constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. This website should not be viewed as a current or past recommendation or a solicitation of an offer to buy, sell or market any securities or to adopt any investment strategy.

Performance Disclosures

Past performance is no guarantee of future results. Any indices referred to on this website are used for purposes of comparison to the performance of certain capital markets. The return figures for each index do not reflect the deduction of any taxes, expenses, transaction costs or advisory fees. Broad-based securities indices are unmanaged and are not subject to fees and expenses typically associated with investing in a Fund.

It is not possible to invest directly in an unmanaged index. The performance of the indices represents unmanaged, passive buy-and-hold strategies, investment characteristics and risk/return profiles that differ materially from those of the Fund, and an investment in the Fund is not comparable to an investment in such index or in the securities that comprise the index.

Target Returns & Forward-Looking Statements

Target returns included on this website are hypothetical in nature and are shown for illustrative, informational purposes only. This material is not intended to forecast or predict future events, but rather to indicate the returns for the asset classes listed herein that the Firm has observed in the market generally. It does not reflect the actual or expected returns of any portfolio strategy pursued by any investment fund or account and does not guarantee future results.

The target returns are based upon the Firm's view of the potential returns for investments of the asset classes described herein, are not meant to predict the returns for any investment funds or accounts managed by the Firm, and are subject to assumptions regarding a number of factors considered by the Firm. Certain of the assumptions have been made for modeling purposes and are unlikely to be realized.

Certain information contained on this website constitutes "forward-looking statements," which can be identified by the use of forward-looking terminology such as "may," "will," "should," "seek," "expect," "anticipate," "project," "estimate," "intend," "continue," "target," "plan," "believe," the negatives thereof, other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of any investment fund or account may differ materially and adversely from those reflected or contemplated in such forward-looking statements.

Return Definitions & Model Performance

References on this website to "Gross IRR" and "Gross Multiple" or "MOIC" of any investment fund or account are to the aggregate, compound, annual internal rate of return or multiple of invested capital, respectively, calculated on the basis of cash flows to and from all investors therein, but disregarding carried interest, management fees, taxes and organizational expenses payable by investors (whether actually paid or, including in respect of carried interest on unrealized investments, accrued), which will reduce returns to investors in any investment fund or account and, in the aggregate, are expected to be substantial.

The Firm's internal analysis and modeling is performed by the Firm's relevant deal team members, where they model the potential cashflows and exit price on an investment based on current expected timing of investment to be realized. Certain of the assumptions have been made for modelling purposes and are unlikely to be realized. No representation or warranty is made as to the reasonableness of the assumptions made or that all assumptions used in achieving the returns have been stated or fully considered.

Final Disclaimers

Actual performance may differ substantially from the model performance presented. Changes in the assumptions may have a material impact on the model returns presented. Other periods selected may have different results, including losses. There can be no assurance that any investor will achieve profits or avoid incurring substantial losses. In fact, there are frequently sharp differences between model performance results and actual results subsequently achieved by a particular investment product and portfolio.

No representation or warranty is made as to the reasonableness of the assumptions made or that all assumptions used in achieving the target returns have been stated or fully considered. Changes in the assumptions may have a material impact on the projected returns presented. All target return data is shown before fees, transactions costs and taxes and does not account for the effects of inflation. Management fees, transaction costs, and potential expenses are not considered and would materially reduce returns. Actual results experienced by investors may vary significantly from the hypothetical illustrations shown.