Godafoss Capital Management

This information is being provided for informational purposes only and does not constitute an offer to sell or the solicitation of any offer to buy any securities. Securities of Godafoss Capital, LP, doing business as Godafoss Long-Term Innovation Growth Fund (the "Fund"), are offered only to certain selected "accredited investors" and only by means of a complete offering memorandum and related subscription materials (collectively, the "Offering Documents") which contain significant additional information about the terms of an investment in the Fund. Any decision to invest in the Fund must be based solely on the information set forth in the Offering Documents, regardless of any other information that has been provided to prospective investors, including the information contained herein.

The graph above shows the growth of an investment of $10,000 in the Fund made on the Fund's inception on July 1, 2019 compared to the growth of an investment of $10,000 in the Standard & Poor's 500 Index (the “S&P 500”) made on July 1, 2019. In each case, performance results are from July 1, 2019 to , and assume that no amount of the initial investment was withdrawn during the relevant period. Performance presented herein is not intended to and does not reflect the performance of an actual investment or account managed by the Investment Manager. Performance results of the Fund are presented for information purposes only and reflect the impact that material economic and market factors had on Godafoss Capital Management, LLC's (the "Investment Manager") decision-making process. No representation is being made that any investor or portfolio will or is likely to achieve profits or losses similar to those shown.

Results are net of all standard fees charged during the relevant period and calculated at the highest rate charged, expenses and estimated incentive allocation, and are inclusive of the reinvestment of dividends and other earnings, including income from new issues. Results may vary for investors who are restricted from participating in new issues. The performance results reflected above during the period from July 2019 through May 2024 is shown (i) net of annual management fees at 0%, annual non-management fee expenses at 10bps and annual performance allocation at 25% with respect to the period from July 2019 through December 2023, (ii) net of annual management fees at 1.75%, annual non-management fee expenses at 10bps and annual performance allocation at 22.5% with respect to the period from January 2024 through April 2024, and (iii) net of annual management fees at 1.75%, annual non-management fee expenses at 0bps and annual performance allocation at 22.5% with respect to May 2024. During the period from July 2019 through May 2024, no actual management fees, non-management fee expenses or performance allocation were charged to the limited partner's capital account.

Additional information about fees is available upon request.

Performance of individual investors may also vary based upon the timing of contributions and withdrawals. Performance numbers were prepared by the Investment Manager, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. The information provided is historical and is not a guide to nor a guarantee of future performance. Investors should be aware that a loss of investment is possible. Returns may vary for investors who are restricted from participating in new issues.

This presentation cannot and does not guarantee or predict a similar outcome with respect to any future investment. The Investment Manager makes no implications, warranties, promises, suggestions or guarantees whatsoever, in whole or in part, that by participating in any investment of or with the Investment Manager you will experience similar investment results and earn any money whatsoever.

Comparisons to the performance of the S&P 500 over a specified period of time are provided for information only. Nothing herein implies that the Fund's portfolio will be constructed in the same way as the S&P 500 or achieve returns, volatility, or other results similar to the S&P 500. The Fund's portfolio may contain options and other derivative securities, fixed income investments, may include inverse ETFs or other leveraged products and may not be as diversified the S&P 500.

The S&P 500 is unmanaged, may be market weighted, include the reinvestment of dividends and do not reflect transaction costs or any performance fees. Unlike the S&P 500, the Fund will be actively managed and may include substantially fewer and different securities than those comprising each index. An investor cannot invest directly in an index. Due to the differences discussed above, the S&P 500 is not directly comparable to the investment strategy of the Fund.

The graphs, charts and other visual aids are provided for informational purposes only. None of these graphs, charts or visual aids can and of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions.