Nantucket Multi Managers, LLC Disclosure Nantucket Multi Managers, LLC (“Nantucket”) is the General Partner of Nantucket Fund, LP (the “Master Fund”), the Manager of Nantucket Institutional Fund (Cayman) SPC and the Managing Member of Nantucket Levered, LLC, collectively referred to as the “Nantucket funds” or singularly a “Nantucket fund”. Nantucket is registered as an investment adviser with the Securities and Exchange Commission (“SEC”) under the Investment Adviser Act of 1940, as amended. Nantucket is exempt from registration with the Commodity Futures Trading Commission (“CFTC”) as a commodity pool operator pursuant to Rule 4.13(a)(3) and in reliance on CFTC No-Action Relief issued in 2012. William K. M. Goldsmith is the Managing Member of Nantucket Multi Managers, LLC, which has been the sole General Partner of Nantucket Fund, LP since January 1, 2001. From January 1, 2000 through December 31, 2000 Nantucket Multi Managers LLC and Metamora Multi Managers, LLC were co-General Partners of Nantucket Fund, LP. Metamora Multi Managers, LLC was the sole General Partner from January 1, 1996 through December 31, 1999 of the Nantucket Fund, LP which at that time was named The Metamora Fund, L.P. (The Metamora Fund L.P. changed its name to Nantucket Fund, L.P. effective 1/31/2001). During the time period when Metamora Multi Managers, LLC was the sole General Partner, William K. M. Goldsmith advised Metamora Multi Managers, LLC on underlying manager selection. Please note that this communication does not constitute an offer to sell, nor is it a solicitation of an offer to purchase an interest in any Nantucket fund nor any of the underlying managers. Any such offer or solicitation can be made only by the delivery of the current Confidential Private Placement Memorandum of the relevant fund which should be read carefully, especially the “Risk Factors” section, before making a decision to invest. Nothing in this communication shall be deemed to constitute tax, financial or legal advice given by Nantucket to any party. Neither Nantucket nor any of its affiliates is undertaking to provide any investment advice to an investor in a fiduciary capacity in connection with an investment in any Nantucket fund. An investment in any Nantucket fund should be considered speculative and involves substantial risk due to, among other things, the nature of the investment strategy and techniques, the significant fees and costs associated with such an investment and the illiquidity of interests. Investors must independently assess the suitability of a particular investment opportunity and carry out any due diligence that they require with respect to the strategies used or investments made by a Nantucket fund or underlying manager; in doing so, investors should seek advice from their own advisers. Conflicts of interest are described in various sections of the relevant Nantucket fund Confidential Private Placement Memorandum, especially the “Special Considerations and Risk Factors” and “Conflicts of Interest” sections as well as in Part ADV-2A. Each Nantucket fund is a private unregistered investment vehicle and is, therefore, not subject to the same regulatory/disclosure requirements as a registered investment company (e.g., a mutual fund). The Master Fund allocates substantially all of its assets to independent portfolio managers that pursue various alternative investment strategies through many markets including foreign markets; these portfolio managers invest in public securities and, depending upon the manager, private securities as well. Because of the nature of a fund-of-funds structure, an investment in a Nantucket fund involves multiple layers of fees which can negatively effect performance results. Investments in a Nantucket fund or any of its underlying managers are illiquid and are subject to significant transfer restrictions. Performance figures of the Nantucket funds are presented assuming a new issue eligible investor who invested at inception and who was charged the highest fee structure possible in all periods. Nantucket fund performance figures in this correspondence are calculated by an independent administrator, are net of management fees and (when applicable) incentive allocations, are estimated and unaudited based on estimated and unaudited net asset valuations or net performance measurements supplied by the relevant underlying manager or its administrator, unless otherwise stated, and are subject to final year-end audit and adjustment. The performance of the underlying managers in the Master Fund has not been independently verified by Nantucket or our accountants. Annual audits of the Nantucket funds are generally completed by June 30th each year (for the prior calendar year) which should be taken into consideration when reviewing a Nantucket fund’s performance. Fees and performance results may vary by investor in certain of the Nantucket funds as a result of the size or timing of investment. Each investor will receive periodic statements from Nantucket’s independent administrator (via retrieval from the administrator’s secure web portal) which will include individualized performance reporting. Investors in Nantucket Institutional Fund (Cayman) SPC (the offshore feeder fund) may experience different performance than the Master Fund due to operating expenses and withholding taxes. Investors in Nantucket Levered, LLC (the levered feeder fund) may experience more volatile performance and at times possibly lower performance than the Master Fund due to the cost and investment effects of leverage. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. There can be no assurance that comparable historical investment returns can be achieved by any Nantucket fund or underlying manager mentioned herein. Furthermore, there is no assurance that a Nantucket fund will achieve its stated objectives. The risk free rate is defined as the Citigroup 3-month Treasury Bill as it relates to applicable performance statistics. Any modeled, hypothetical or simulated returns are not actual results, are based on certain assumptions and have many inherent limitations and should not be considered an indication of the skillset of Nantucket or performance of any Nantucket fund. There are frequently sharp differences between hypothetical, modeled or simulated performance versus the actual record subsequently achieved. Index and manager data is obtained from private sources and public databases such as Evestment, Hedge Fund Research, Standard & Poors, MSCI and other databases and is believed to be accurate but is not independently verified. Certain indices referred to are used as proxies for certain market segments only and are generally not investable. No representation is made that the Master Fund is managed to or designed to replicate any indices or benchmarks shown, either in composition or element of risk involved. Such comparisons are solely to illustrate the relevant Nantucket FOF performance against the index shown. The HFRI FOF Diversified Index is an index maintained by Hedge Fund Research, Inc. that includes funds of hedge funds that invest “in a variety of strategies among multiple managers;” this is used by Nantucket as a peer group proxy. MSCI World TR Net (aka MSCI World-ND or MSCI World) is the total return of the MSCI World Index, including the reinvestment of dividends, and net of estimated international taxes for a U.S. investor; this is used by Nantucket as a global equities proxy. The Barclays Global Aggregate Index is used by Nantucket as a global bonds proxy. Index performance, where stated, is reported with dividends re-invested unless otherwise noted. Information contained in these materials is obtained from sources we deem to be reliable; however, we do not guarantee its accuracy and is subject to change without notice. The information contained in this communication may contain forward-looking statements that reflect the current views of Nantucket and/or its principals or employees (collectively, the “Company”), with respect to future business of Nantucket, or performance of a Nantucket fund or any of its underlying managers. Any forward-looking statements contained in this correspondence are based upon historical information and the current plans, estimates and expectations of the Company, are subject to numerous assumptions, may not be achieved and are subject to change without notice. Such forward-looking statements are subject to various risks and uncertainties, including but not limited to global and domestic market and business conditions. If one or more risks or uncertainties materialize, or if the Company’s assumptions prove to be incorrect, actual performance results may vary materially from those indicated in the forward-looking statement. For additional information on Nantucket, please refer to Nantucket’s current Form ADV-1 and ADV-2A , which can be accessed at http://www.adviserinfo.sec.gov. Information in this communication is confidential and proprietary, and you may not copy, transmit or distribute Nantucket information, or authorize such actions by others, without Nantucket’s express prior written consent, except for the following: an investor may share Nantucket information with their professional advisors; a professional financial adviser may share Nantucket information with their client who is a Nantucket fund investor or with a prospective investor that they reasonably determine to be eligible to invest in a Nantucket fund. Nantucket assumes no responsibility with respect to Nantucket information that is presented which has not been prepared by Nantucket. 4-13-2021 v2