GENERAL DISCLAIMER:

The information and any disclosures provided in this presentation are in summary form and have been prepared solely for informational purposes only. This document does not constitute an offer to sell or the solicitation of an offer to buy interests in the fund. An offering of interests will be made only by means of a definitive confidential private offering memorandum and only in those jurisdictions where permitted by law. In the case of any inconsistency between the information and disclosures contained herein and the information and disclosures contained in the fund’s offering memorandum, the fund’s offering memorandum will control. Any purchase made by you on the basis of information and any disclosures not contained in or consistent with the fund’s offering memorandum will be solely at your own risk. Please see additional disclaimers below.

This document is being provided on a confidential basis by the firm solely for discussion with those persons to whom it is
transmitted. This document may not be used for any other purposes. This document and its contents are proprietary
information of the firm and may not be reproduced or disseminated, in whole or in part, without the firm’s prior written
consent. The information set forth herein does not purport to be complete, is unaudited and subject to change. Firm has no obligation to update or revise such information. Unless otherwise stated, the information contained herein is current as of the date of the presentation.

INVESTMENT PERFORMANCE AND PAST PERFOrMANCE

Performance of wine as an investment class is being provided for the purpose of making general market data available as a point of reference only. We believe there are no known directly comparable data for the investment strategy of the fund. In addition, it should be noted that the sector, industry, stock and country exposures, volatility, risk characteristics and holdings of the fund differ materially from other securities. The comparative asset performance returns were obtained from s&p, ftse, morningstar, cisdm, liv-ex hedge fund as represented by cisdm equal weighted hedge fund index and other third-party sources. Although we believe these sources to be reliable, it is not responsible for errors or omissions from these sources.

The performance representations contained herein are not representations that such performance will continue in the
future or that any investment scenario or performance will even be similar to such description. Any investment described
herein is an example only and is not a representation that the same or even similar investment scenarios will arise in the future or that investments made will be profitable. No representation is being made that any investment will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between prior performance results and actual results achieved by a particular trading program.

FORWARD LOOKING STATEMENTS:

Certain information contained in this material constitutes 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. Such statements are not guarantees of future performance or activities. Due to various risks and uncertainties, actual events or results or the actual performance of the fund may differ materially from those reflected or contemplated in such forward-looking statements.

SPECULATIVE RISK:

An investment in the fund is speculative and involves a high degree of risk. The fund may employ certain techniques, such
as the use of leverage that may increase the risk of investment loss. Further, investors will have very limited withdrawal
and transfer rights, and no secondary market for the interests exists or is expected to develop. In addition, the fund’s fees
and expenses offset profits. All of the risks, as well as other important risks and information (including, without limitation,
information regarding investment objectives and programs, fees, and expenses, tax considerations and suitability
requirements) are described in detail in the fund’s offering documents. Prospective investors are strongly urged to review
the fund’s offering documents carefully and consult with their own financial, legal and tax advisors before investing with the fund. Our investment program involves substantial risk, including the loss of principal, and no assurance can be given that our investment objectives will be achieved.

ILLUSTRATIVE PURPOSES ONLY:

Examples of our processes and any other ideas presented herein are for illustrative purposes only. There is no guarantee
that the fund will acquire a position in an issuer or industry referenced in such examples or ideas or that any such position would be profitable.

This material is for informational purposes only. Any opinions expressed herein represent current opinions only and while
the information contained herein is from sources believed reliable there is no representation that it is accurate or complete and it should not be relied upon as such.