HARSPRING CAPITAL MANAGEMENT, LLC

Harspring Capital Management, LLC offers advisory services to clients, but the descriptions in their brochure should not be considered limiting. They may offer any advisory services, engage in any investment strategy, and make any investment they deem appropriate, subject to each client's investment objectives and guidelines outlined in the Offering Documents. It is important to note that investing in securities involves the risk of loss, and clients should be prepared to bear a substantial loss of capital. There is no guarantee that any client's investment objectives will be achieved. Harspring Capital Management, LLC is not registered as a broker-dealer, and neither they nor their management personnel have any pending applications to register with the SEC as a broker-dealer or registered representative of a broker-dealer. Their affiliate, Harspring Management, LLC, was previously registered with the NFA as a CPO but is no longer registered. Harry Gail and other Harspring officers were registered as Associated Persons of Harspring Management, LLC.

The Funds aim to achieve superior returns over a multi-year period by investing in a select number of securities with compelling risk-reward profiles. They also employ short selling for both absolute return generation and hedging purposes. The Funds primarily invest in publicly-traded equities, but may also include options, derivatives, bonds, and limited investments in privately-held securities or other investments without a readily ascertainable market value. The investment process involves fundamental analysis of individual securities within their respective industries. This includes analyzing primary company documents, industry and third-party information, and engaging in discussions with company management and other industry participants.

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