Excluded from this list are investments which the issuer has requested Blackletter not to disclose publicly and investments in publicly traded securities recently initiated. In instances where Blackletter invested in a company that was later acquired for equity consideration, the acquiring issuer is listed. It should not be assumed that any or all of these investments were or will be profitable and past performance of funds managed by Blackletter is not necessarily indicative of future results. There can be no assurance that any investment will achieve results comparable to those of any prior or existing investments of Blackletter. Blackletter generally updates this list quarterly and thus makes no representation that recent investments or dispositions are included.

Blackletter Capital L.L.C. (“Blackletter”) maintains the websites blackletter.com and ligature.vc. Information with respect to Ligature is available through Ligature.vc. Blackletter does not solicit, offer, or sell securities via the Internet. Any representations to the contrary and any websites other than Blackletter.com and Ligature.vc are not endorsed by Blackletter.