All materials are for informational purposes only and are not an offer to provide any investment advisory services. The contents are based on information from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Past performance and recommendations of any Palm Team Capital’s principal are not a guarantee of future success. These materials are being furnished on a confidential basis to a limited number of prospective investors who are both “accredited investors” and “qualified clients” or “qualified purchasers” and may not be used or reproduced for any purpose.

INVESTMENT RISKS: INVESTING IN THE FUND IS SPECULATIVE AND INVOLVES VARYING DEGREES OF RISK, INCLUDING SUBSTANTIAL DEGREES OF RISK IN SOME CASES.  THE FUND MAY BE LEVERAGED AND MAY ENGAGE IN OTHER SPECULATIVE INVESTMENT PRACTICES THAT MAY INCREASE THE RISK OF INVESTMENT LOSS.  PAST RESULTS OF THE FUND INVESTMENT MANAGER IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE OF THE FUND, AND THE FUND’S PERFORMANCE MAY BE VOLATILE.  THE USE OF A SINGLE ADVISOR COULD MEAN LACK OF DIVERSIFICATION AND, CONSEQUENTLY, HIGHER RISK.  THE FUND MAY HAVE VARYING LIQUIDITY PROVISIONS AND LIMITATIONS.  THERE IS NO SECONDARY MARKET FOR INVESTORS’ INTERESTS IN THE FUND AND NONE IS EXPECTED TO DEVELOP.

NOT LEGAL, ACCOUNTING OR REGULATORY ADVICE.  This material is not intended to represent the rendering of accounting, tax, legal or regulatory advice.  A change in the facts or circumstances of any transaction could materially affect the accounting, tax, legal or regulatory treatment for that transaction.  The ultimate responsibility for the decision on the appropriate application of accounting, tax, legal and regulatory treatment rests with the investor, and his or her accountants, tax and regulatory counsel.  Potential investors should consult, and must rely on their own professional tax, legal and investment advisors as to matters concerning the Fund and their investments in the Fund.  Prospective investors should inform themselves as to: the legal requirements within their own jurisdictions and applicable foreign exchange restrictions for (1) the purchase, holding or disposal of investments; and (2) any income and other taxes which may apply to their purchase, holding and disposal of investments or payments in respect of the investments of the Fund.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.  No representation is made that the Fund’s investment process, investment objectives, goals or risk management techniques will or are likely to be achieved or successful or that the Fund or any underlying investment will make any profit or will not sustain losses.  The  Fund may engage in investment practices or trading strategies that may increase the risk of investment loss and a loss of principal may occur. The risk management techniques which may be utilized by the Fund cannot provide any assurance that the Fund will not be exposed to risks of significant trading losses.  An investment in the Fund will be illiquid and there will be significant restrictions on transferring interests in the Fund. There is no secondary market for an investor’s investment in the Fund and none is expected to develop.  An investor is subject to potential total loss of his/her investment.