Report Disclaimer

Confidentiality & Intended Recipients
This Market Report (the “Report”) is proprietary to Knapp Capital Management, LLC (KCM) and is provided on a confidential basis solely to authorized users. You agree not to reproduce, distribute or otherwise disclose this Report or its contents to any third party without the prior written consent of KCM.

No Offer or Solicitation
This Report is for informational and discussion purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities, financial instruments, or other investments. Neither this Report nor any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

Use & Reliance
While we have endeavored to ensure that the information contained herein has been obtained from reliable sources, KCM makes no representation or warranty, express or implied, as to its accuracy, completeness, or fitness for a particular purpose. You should not rely on this Report as the sole basis for any investment decision, and you should conduct your own independent due diligence.

Forward-Looking Statements
This Report may contain forward-looking statements, projections, estimates, or other information that is predictive in nature, including statements regarding future market conditions, strategy, and anticipated financial performance. These statements are based on current expectations, forecasts, and assumptions that inherently involve risks and uncertainties. Actual results or outcomes may differ materially due to factors such as market volatility, economic and political conditions, regulatory developments, and other risks. KCM undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this Report.

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Governing Law
This Report shall be governed by and construed in accordance with the laws of the State of Delaware without regard to its conflict of law principles.