Epstein Secrets

> Net Return -3.3%*: 6.0% (a) Please note that Honeycomb Master Fund LP includes all or substantially al investible assets from its feeder funds. Honeycomb Partners LP. Honeycomb Intermediate Fund LP and Honeycomb Offshore Fund Ltd. However. investors are expected to invest at the feeder fund not at the master fun

b Master Fund LP includes all or substantially al investible assets from its feeder funds. Honeycomb Partners LP. Honeycomb Intermediate Fund LP and Honeycomb Offshore Fund Ltd. However. investors are expected to invest at the feeder fund not at the master fund level. The reflected returns assume a representative investor in

b Master Fund LP (the "Master Fund"). Honeycomb Intermediate Fund LP (the "Intermediate Fund"), Honeycomb Offshore Fund Ltd. (the "Offshore Fund"). Honeycomb Partners LP. (the "U.S. Partnership", and collectively, the "Funds") and (ii) any of their transactions. and all materials of any kind (including opinions or ot

the tax treatment and tax structure of: (i) Honeycomb Master Fund LP (the "Master Fund"). Honeycomb Intermediate Fund LP (the "Intermediate Fund"), Honeycomb Offshore Fund Ltd. (the "Offshore Fund"). Honeycomb Partners LP. (the "U.S. Partnership", and collectively, the "Funds") and (ii) any of their transactions. and all m

22.3% 17.9% Year To Date jai Please note that Honeycomb Master Fund LP includes all or substantially all investible assets from its feeder funds, Honeycomb Partners LP, Honeycomb intermediate Fund LP and Honeycomb Offshore Fund Ltd. However, investors are expected to invest at the feeder fund not at the master fund

Master Fund LP includes all or substantially all investible assets from its feeder funds, Honeycomb Partners LP, Honeycomb intermediate Fund LP and Honeycomb Offshore Fund Ltd. However, investors are expected to invest at the feeder fund not at the master fund level. The reflected returns assume a representative Investor In

.2% 17.2% 14.6% (a) Please note that Honeycomb Master Fund LP (the "Funds} includes a cc substantlaIN all investible assets from its feeder funds, Honeycomb Partners LP, Honeycomb Intermediate Fund LP and Honeycomb Offshore Fund Ltd. However, investors are expected to invest at the feeder fund not at the Fund level.

nd LP (the "Funds} includes a cc substantlaIN all investible assets from its feeder funds, Honeycomb Partners LP, Honeycomb Intermediate Fund LP and Honeycomb Offshore Fund Ltd. However, investors are expected to invest at the feeder fund not at the Fund level. The reflected returns assume a representablee investor invested

00 Attachments: Honeycomb_Month_End_Estimate_20180430.pdf Richard Kahn HBRK Associates Inc. tel fa ce Begin forwarded message: From: Subject: Honeycomb Partners LP: April 2018 Performance Estimate Date: April 30, 2018 at 6:38:12 PM EDT To: CONFIDENTIAL Dear Investor, Estimated performance for a representati

Master Fund LP includes all or substantially all investible assets from its feeder funds, Honeycomb Partners LP, Honeycomb Intermediate Fund LP and Honeycomb Offshore Fund Ltd. However, investors are expected to invest at the feeder fund not at the master fund level. The reflected returns assume a representative investor i

7/2„?/ 16 c *i N‘ \ \Sc • +0.50% +0.54% (a) Please note that the Fund includes all or substantially all investiblc assets from its feeder funds. Honeycomb Partners LP. Honeycomb Intermediate Fund LP and Honeycomb Offshore Fund Ltd. However. investors are expected to invest at the feeder fund not at the Fund level.

e that the Fund includes all or substantially all investiblc assets from its feeder funds. Honeycomb Partners LP. Honeycomb Intermediate Fund LP and Honeycomb Offshore Fund Ltd. However. investors are expected to invest at the feeder fund not at the Fund level. The reflected returns assume a representative investor invested