CONTACT US : IR@CLADRIUS.COM

Cladrius is an investment management firm focused on legally and structurally complex situations.

Cladrius was awarded top performing fund in the AltCredit and The Hedge Fund Journal / Prequin performance awards in 2020.

Cladrius Partners LLC is a long/short hedge fund founded by Dennis Ruggere, Chief Investment Officer.

DISCLOSURES

AN INVESTMENT IN THE FUND IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK

This presentation and website is for information purposes only and is not and should not be construed as an offer to sell or a solicitation to buy securities. An offer or solicitation can be made only through delivery of a confidential offering private placement memorandum and subscription agreement and will be subject to the terms and conditions contained in such documents.

There can be no assurance that Cladrius’ investment objectives can be achieved or that Cladrius will not incur losses. No investment decision should be made until a prospective investor has read the confidential private placement memorandum. The information contained herein is intended solely for use by the recipient hereof and is not to be reproduced or distributed to other parties. Unless otherwise noted, performance is shown net of fees and expenses, including the deduction of advisory fees. Performance results include the reinvestment of all dividends, interest and capital gains. An investor’s return may vary based on their actual management fees, as well as the timing of capital transactions and other expenses.

The third party research contained herein is based on information obtained from sources believed to be reliable but no representation or warranty is made that it is accurate, complete or up to date. Cladrius accepts no obligation to correct or update the information or opinions in this report. Opinions expressed are subject to change without notice. Cladrius does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this report and/or further communication in relation to this presentation.

The THFJ/Prequin rating was awarded by The Hedge Fund Journal on 18 August 2021 with respect to the performance of Cladrius LP for 2020 as compared to the performance of other firms evaluated by The Hedge Fund Journal and Preqin. Preqin provides The Hedge Fund Journal with performance data based on information available on their platform Preqin Pro, which offers performance data covering a universe of more than 30,000 funds. The performance data is compiled using public domain information and data reported to Preqin by the funds themselves. As Preqin is a provider of data, analysis, and insights rather than an auditor, the data Preqin collects is not independently verified or assessed.  Hence, Preqin cannot guarantee the validity of the information. Per the SEC’s amendments to Rule 206(4)-1 which became effective 4 November 2022, Cladrius discloses that it did not compensate The Hedge Fund Journal or Preqin to receive or use the award.

The AltCredit rating was awarded by HFM-With Intelligence on 27 October 2021 with respect to the performance of Cladrius LP for 2020 as compared to the performance of other funds that submitted information to HFM-With Intelligence. Per the SEC’s amendments to Rule 206(4)-1 which became effective 4 November 2022, Cladrius discloses that it did not compensate HFM-With Intelligence to receive or use the award. After being selected as one of the finalists, Cladrius sponsored and purchased a table to attend the live awards ceremony, during which Cladrius was selected as the overall winner from a panel of independent judges.

Investors must be prepared to lose their entire investment in the Fund. In particular, the following are certain of the principal risks to which an investment in the Fund will be subject:

• • Past performance is not necessarily indicative of future results
    
  • Investors will not be able readily to Redeem from the Fund so as either to recognize profits or limit losses
    
  • The Fund will compete with other private investment funds with resources substantially greater than the Fund
    
  • The Fund will be subject to fees and expenses
    
  • The Fund will invest in non-U.S. markets and will be subject to incremental exchange-rate, legal and regulatory risks in doing so
    
  • The Fund will operate on a substantially unregulated basis
    
  • The Fund is likely to be involved in adversary proceedings and litigation
    
  • Cladrius may make illiquid and long-term investments on behalf of the Fund
    
  • Cladrius’ portfolio will also include short sales, junk bonds, trade claims, distressed securities, derivatives and other high risk investments
    
  • Certain securities and instruments in which Cladrius may invest can be highly volatile
    
  • Cladrius or its affiliates may receive performance-based compensation from the Fund, which may result in riskier investments
    
  • The Fund is not registered under the U.S. Investment Company Act of 1940, and investors will not have the protections afforded thereby
    
  • Cladrius is dependent on the services of key personnel. The loss of their services could have a material adverse effect on the performance of its portfolio
    

See the Confidential Private Placement/Offering Memorandum for an outline of the material risks and conflicts of interest to which an investment in the Fund is subject