This communication is provided for informational purposes only. It is a high-level summary of Grasshopper Capital LLC (the “Investment Manager”), and certain operational processes and personnel.

This communication does not constitute an offer to sell or a solicitation to purchase any securities in Grasshopper Capital Fund I LP or Grasshopper Capital Fund II LP, a Delaware limited partnership, or any other entity organized, controlled, or managed by the Investment Manager (collectively, the “Funds”) and may not be relied upon in connection with any offer or sale of securities.

Any offer or solicitation in relation to any Fund may only be made pursuant to a Confidential Private Placement Memorandum (or similar document) for the relevant Fund, which will only be provided to qualified offerees and should be carefully reviewed by any such offerees prior to investing.

This communication in and of itself should not form the basis for any investment decision, and does not contain all material information pertinent to an investment decision. This communication should be read in conjunction with, and is qualified in its entirety by, information appearing in the Confidential Private Placement Memorandum (or similar document) for each of the Funds and the relevant documents for the Funds (e.g., limited partnership agreements), which should be carefully reviewed prior to investing.

An investment in any of the Funds is speculative and entails substantial risks, including the fact that such an investment would be illiquid and subject to significant restrictions on transferability. No market is expected to develop for interests in any of the Funds.

Financial instruments and investment opportunities discussed or referenced herein may not be suitable for all investors, and potential investors must make an independent assessment of the appropriateness of any transaction in light of their own objectives and circumstances, including the possible risk and benefits of entering into such a transaction.

An investor in any of the Funds could lose all or a substantial amount of his or her investment.
Returns generated from an investment in any of the Funds may not adequately compensate investors for the business and financial risks assumed. The products and strategies in which the Funds expect to invest involve above-average risk. The Risk Factors section of the relevant Confidential Private Placement Memorandum (or similar document) summarize the risks associated with an investment in each of the Funds.

This communication and the material herein is confidential and may not be distributed in whole or in part to anyone other than the intended recipients.

By accepting receipt of this communication, the recipient will be deemed to represent that they are an Accredited Investor, Qualified Purchaser, or similar, and that they possess, either individually or through their advisers, sufficient investment expertise to understand the risks involved in any purchase or sale of any financial instruments discussed herein.

Unauthorized reproduction or distribution of all or any of this material or the information contained herein is strictly prohibited.

Certain information in this communication may constitute “forward-looking statements”, which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “target”, “project”, “estimate”, “intend “, ” continue” , or “believe” or the negatives thereof or other variations thereon or comparable terminology.

Due to various risks and uncertainties, actual events or results or the actual policies, procedures, and processes of the Investment Manager and the performance of the Funds may differ materially from those reflected or contemplated in such forward-looking statements and no undue reliance should be placed on these forward-looking statements, nor should the inclusion of these statements be regarded as the Investment Manager’s representation that the Funds will achieve any strategy, objectives or other plans.

Such information is believed to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed, or implied with respect to the fairness, correctness, accuracy, reasonableness, or completeness of such information. If any matter stated becomes inaccurate, upon becoming aware of the inaccuracy the Investment Manager will seek to update the information within a reasonable time.

The Investment Manager is not acting and does not purport to act in any way as an advisor or in a fiduciary capacity vis-a-vis any investor in the Funds. A prospective investor should obtain independent advice in relation to investment, financial, legal, tax, accounting or regulatory issues regarding their investment in any of the Funds.

Nothing contained herein shall constitute any representation or warranty as to future performance of any Fund, or of any market or economic measure. Analyses and opinions contained herein may be based on assumptions that if altered can change the analyses or opinions expressed.
The distribution of this document in certain jurisdictions may be prohibited or restricted by law; therefore, people in whose possession this document comes should inform themselves about and observe such restrictions. Any such distribution could result in a violation of the law of such jurisdictions.

The terms above are provided for informational purposes only and do not constitute a complete overview. An investment in any Fund may only be made pursuant to the relevant Confidential Private Placement Memorandum, which should be reviewed carefully by any such offerees prior to investing.