all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 3 EFTA00287285 ADW Capital Partners, L.P. I 11/4/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management,

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 5 EFTA00287277 ADW Capital Partners, I 4/20/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management,__LLC

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 3 EFTA00287281 ADW Capital Partners, 8/8/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management,__LLC ("A

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 4 EFTA00287290 ADW Capital Partners, L.P. I 2/17/2016 IMPORTANT NOTES This report is being furnished by ADW Capital Management,

by phone/email to discuss any other questions you may have or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 5 EFTA00287296 ADW Capital Partners, L.P. 4/26/2014 IMPORTANT NOTES This report is being furnished by ADW Capital Management, LL

by phone/email to discuss any other questions you may have or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 4 EFTA00287301 ADW Capital Partners, L.P. I 7/18/2014 IMPORTANT NOTES This report is being furnished by ADW Capital Management,

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 3 EFTA00287309 ADW Capital Partners, L.P. 2/8/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management, LLC

any manner ADW believes to be consistent with the Fund's overalls investment objectives. ADW Capital Partners, L.P. 2 EFTA00287312 Management Adam D. Wyden, Chief Investment Officer and Founding Partner Before founding ADW, Mr. Wyden spent a year at Baker Street Capital Management — a deep value / event

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 3 EFTA00287305 ADW Capital Partners, L.P. 11/4/2014 IMPORTANT NOTES This report is being furnished by ADW Capital Management, LL

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 3 EFTA00605857 ADW Capital Partners, L.P. 8/8/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management, LLC

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 5 EFTA00605928 ADW Capital Partners, L.P. 4/20/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management, LL

by phone/email to discuss any other questions you may have or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 5 EFTA00605972 ADW Capital Partners, L.P. 4/26/2014 IMPORTANT NOTES This report is being furnished by ADW Capital Management, LL

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 4 EFTA00605978 ADW Capital Partners, L.P. I 2/17/2016 IMPORTANT NOTES This report is being furnished by ADW Capital Management,

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 3 EFTA00620142 ADW Capital Partners, L.P. I 2/8/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management, L

any manner ADW believes to be consistent with the Fund's overalls investment objectives. ADW Capital Partners, L.P. 2 EFTA00620149 Management Adam D. Wyden, Chief Investment Officer and Founding Partner Before founding ADW, Mr. Wyden spent a year at Baker Street Capital Management — a deep value / event

all of your questions regarding the operations of the Fund or about the exciting opportunity set we are currently deploying capital into. Regards, Adam D. Wyden CONFIDENTIAL 3 EFTA00620146 ADW Capital Partners, L.P. 2/8/2015 IMPORTANT NOTES This report is being furnished by ADW Capital Management, LLC