Privacy Notice

Dear Partner:

We are providing this notice to you to comply with the requirements of Regulation S-P, issued by the United States Securities and Exchange Commission. Accordingly, set forth below is our policy regarding disclosure of nonpublic personal information about our clients.

We do not disclose nonpublic personal information about our partners or former partners to third parties except as described below:

We collect certain nonpublic information about you in a number of ways, such as from our discussions with you, from documents such as subscription agreements that you deliver to us, and in the course of providing services to you.

In the normal course of serving our partners and effecting transactions for the partnerships, we may share your personal information with companies that perform services on the partnerships’ behalf, such as accountants, auditors, and attorneys; and, as permitted or required by law, regulatory agencies or other third parties. These parties are to use the information only for the services required of them and as allowed by applicable law or regulation and are not to share or use it for any other purpose.

We maintain appropriate physical, electronic, and procedural safeguards that comply with federal standards to safeguard your personal information. We reserve the right to change our privacy policy at any time.

If, at any time in the future, it is necessary to disclose any personal information about our partners in a way that is inconsistent with this policy, Excellere will provide our partners with advance notice of the proposed disclosure so that they will have the opportunity to either opt-in or opt-out of such disclosure, as required by applicable law.

This notice is for your information only and requires no action on your part.