Godafoss Capital Management

The graph above shows the growth of an investment of $10,000 in Godafoss Long-Term Innovation Growth Fund (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 In each case, performance results are from July 1, 2019 to , and assume that no amount of the initial investment was withdrawn during the relevant period. Fund performance reflects the fact that Godafoss has absorbed substantially all of the Fund's non-management fee expenses, and will continue to do so until the Fund's net asset value increases, after which time the Fund will bear all of its expenses. As a result, when the Fund's net asset value increases, its expenses will also increase, which may depress future performance. Performance results of the Fund are presented for information purposes only and reflect the impact that material economic and market factors had on Godafoss' 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. It should be noted that during the period from July 2019 through December 2023, no management fee was charged and thus such fee was not included in the calculation of the Fund's net performance thereof. Subject to any agreements between the General Partner and the investors, a management fee will be charged to the investors' investments in the Fund starting January 2024 and thereafter.

Performance of individual investors may also vary based upon differing management fee and incentive allocation arrangements, and the timing of contributions and withdrawals. Performance numbers were prepared by Godafoss, 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 future performance. Investors should be aware that a loss of investment is possible.

This presentation cannot and does not guarantee or predict a similar outcome with respect to any future investment. Godafoss makes no implications, warranties, promises, suggestions or guarantees whatsoever, in whole or in part, that by participating in any investment of or with Godafoss 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. 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.