Disclosures

Corporate Disclosures

Ancora Holdings Inc. is the parent company of three registered investment advisers with the United States Securities and Exchange Commission; Ancora Advisors, LLC, Ancora Family Wealth Advisors, LLC and Ancora Retirement Plan Advisors, Inc. In addition, it owns Inverness Securities LLC, a FINRA & SIPC member broker dealer. A more detailed description of Ancora, its RIAs, management team and practices are contained in the firm brochure, Form ADV Part 2A. Qualified prospective investors may obtain the CPOM, CEM or ADV Part 2A by contacting the company at: 6060 Parkland Boulevard, Suite 200, Cleveland, Ohio 44124, Phone: 216-825-4000, or by going to www.ancora.net.

General Investment Disclosures

This Presentation is for informational purposes only. No part of this Presentation may be reproduced in any manner without the written permission of Ancora. Each person who has received or viewed this Presentation is deemed to have agreed: (i) not to reproduce or distribute this Presentation, in whole or part; (ii) not to disclose any information contained in this document except to the extent that such information was (a) previously known by such person through a source (other than the Fund, its partners or advisors) not bound by any obligation to keep confidential such information, (b) in the public domain through no fault of the person, or (c) later lawfully obtained by such person from sources (other than the Fund, its partners or advisors) not bound by any obligation to keep such information confidential; and (iii) to be responsible for any disclosure of this document by such person or any of its employees, agents or representatives.

The mention of specific securities, the securities of foreign exchanges and investment strategies in this presentation should NOT be considered an offer to sell or a solicitation of an offer to purchase any specific securities or securities listed on a particular foreign exchange. All data contained in this document is based on information and estimates from sources believed to be reliable. Please consult an Ancora Investment Professional on how the purchase or sale of specific securities can be implemented to meet your particular investment objectives, goals and risk tolerances. Past performance of investment strategies discussed is no guarantee of future results or returns. Investment return and principal value will fluctuate so that an investment when redeemed or sold may be worth more or less than the original cost. Statistics, tables, graphs and other information included in this document have been compiled from various sources. Ancora Advisors believes the facts and information to be accurate and credible but makes no guarantee to the complete accuracy of this information. An investment is deemed to be speculative in nature.

GIPS Compliance Disclosures

Ancora Advisors, LLC is an SEC registered investment adviser and a wholly-owned subsidiary of The Ancora Group, a wholly-owned subsidiary of Ancora Holdings, Inc. SEC registration does not imply a certain level of skill or training. Ancora Advisors LLC claims compliance with the Global Investment Performance Standards (GIPS).

To obtain a GIPS Compliant Report and/or a list of composite descriptions you may contact:

Renie Walters, GIPS Compliance Officer & Head of Investment Performance Measurement
6060 Parkland Boulevard, Suite 200
Cleveland, Ohio 44124
rwalters@ancora.net

Investors should consider the strategy’s investment objectives, risks and expenses carefully before investing. This and other important information about the strategy can be found in the strategy’s GIPS compliant report. Gross returns are calculated gross of management and net of transaction costs. Net returns are calculated net of actual management fees and transaction costs. Both returns are calculated gross of all withholding taxes on foreign dividends. The reported composite results reflect the reinvestment of dividends, capital gains, and other earnings when appropriate. The dispersion measure is the asset-weighted standard deviation of accounts in the composite for the entire year. The pooled investment vehicle in composites calculate net of fees returns net of all expenses including management fees and transaction costs. Policies for valuing portfolios, calculating performance and preparing compliant presentations are available upon request.

Private Fund Disclosures

Risk: There can be no assurance that investment objective will be met at any time. The commodities markets and the prices of various commodities may fluctuate widely based on a variety of factors. Performance may be linked to highly volatile commodity futures, options, or swaps, investors should only consider an investment as part of an overall diversified portfolio and should be willing to assume the risks of potentially significant fluctuations in its value. Commodities generally are volatile and are not suitable for all investors. Please refer to the investment’s investor documents for complete information regarding all risks associated with the investment. Investments are not FDIC insured and may lose value and have no bank guarantee. The value of the investment relates significantly to the value of the commodities held by the investment and fluctuations in their price could materially adversely affect the investment. Several factors may affect the value of the investments, including: A change in economic conditions, such as a recession, weather, interest rates, regulations, and more. Should there be an increase or decrease in the level of hedge activity of the commodities held by the investment, it could cause an adversely effect on performance.

The investment is offered to potential clients by the Confidential Private Offering Memorandum (CPOM), or Confidential Explanatory Memorandum (CEM), only. Admission is limited to those investors that meet the “Qualified Client”, “Qualified Purchaser” standards as listed on pages summarized herein and set forth in the CPOM or CEM. Prospective investors should review the CPOM or CEM prior to investing in the limited partnership. This presentation SHOULD NOT be used as a substitute to reading the CPOM or CEM. Investments in limited partnership are subject to various investment, trading and foreign exchange risks including the risk of possible loss of principal, as more fully explained in the CPOM or CEM.