LEGAL DISCLAIMER

Important Notice: This website (the "Website") is operated by Iron Elk Capital Advisors, Inc. (the "Investment Manager") on behalf of Iron Elk Capital Equity Income Fund, LP (the "Partnership" or "Fund"), a Delaware limited partnership, with Iron Elk Capital, Inc. serving as the General Partner. The information presented on this Website is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any securities, investment products, or interests in the Fund (the "Interests"). No such offer or solicitation may be made except pursuant to the Fund's most recent Confidential Private Placement Memorandum (the "Memorandum" or "PPM"), as may be supplemented or amended from time to time, and in compliance with applicable securities laws. Any descriptions of the Fund's investment strategies, performance targets, objectives, terms, or vehicles are preliminary, subject to change without notice, and should not be relied upon for making any investment decisions. The Fund is available only to eligible investors who qualify as "accredited investors" as defined under Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the "Securities Act"), and who meet other suitability requirements as outlined in the PPM.

Confidentiality and Restrictions on Use: The information contained on this Website is confidential and proprietary. It is intended solely for the use of qualified, sophisticated prospective investors who have been specifically authorized to access it, such as those who have received a copy of the PPM. By accessing or using this Website, you agree not to copy, reproduce, distribute, divulge, or disclose any content herein to any unauthorized third party, including but not limited to any person other than your legal, tax, financial, or investment advisors for the purpose of evaluating a potential investment in the Fund. Unauthorized use, dissemination, or reproduction of this information may violate applicable securities laws and could result in civil or criminal penalties. If you are not an intended recipient or authorized user, you must immediately cease accessing this Website and destroy any copies of the information in your possession.

No Registration or Approval: The Interests in the Fund have not been registered under the Securities Act, the securities laws of any U.S. state, or the securities laws of any other jurisdiction, and are being offered and sold in reliance on exemptions from registration, including Sections 4(a)(2) and/or 3(b) of the Securities Act and applicable state securities exemptions (such as Regulation D Rule 506(c)). Neither the U.S. Securities and Exchange Commission (the "SEC") nor any state securities regulatory authority has passed upon the accuracy, adequacy, or completeness of the information on this Website or in the PPM, nor has any such authority approved or disapproved the Interests or determined if this Website or the PPM is truthful or complete. Any representation to the contrary is a criminal offense. The Fund is not registered as an investment company under the Investment Company Act of 1940, as amended, and the Investment Manager is not registered as an investment adviser under the Investment Advisers Act of 1940, as amended, relying on applicable exemptions.

Investment Risks and Suitability: Investments in hedge funds, including the Fund, involve a high degree of risk and are suitable only for sophisticated investors who can bear the economic risk of a complete loss of their entire investment. There can be no assurance that the Fund's investment objectives will be achieved or that investors will receive a return of their capital. More detailed information about key risks applicable to an investment in the Fund is set forth in the PPM and you should carefully review these risks before making any investment decisions.

No Investment Advice or Recommendation: Nothing on this Website should be construed as investment, financial, legal, tax, or accounting advice, or as a recommendation to buy, sell, or hold any security or investment. The information provided is general in nature and does not take into account your specific investment objectives, financial situation, or needs. Prospective investors must consult their own independent legal, tax, financial, and investment advisors before making any investment decision. The Investment Manager, General Partner, and their affiliates make no representations or warranties regarding the suitability of an investment in the Fund for any particular investor.

Forward-Looking Statements: This Website may contain forward-looking statements, estimates, projections, or targets regarding the Fund's strategies, performance, or market conditions, which are based on current assumptions and beliefs. These statements are inherently subject to significant uncertainties and risks, and actual events or results may differ materially. Factors that could cause such differences include, but are not limited to, economic conditions, regulatory changes, geopolitical events, and market volatility. The Fund undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

No Reliance: You should not rely on the information on this Website as the basis for any investment decision. All information is provided "as is" without warranty of any kind, express or implied, including but not limited to warranties of accuracy, completeness, timeliness, merchantability, fitness for a particular purpose, or non-infringement. The Investment Manager, General Partner, and their affiliates disclaim all liability for any errors, omissions, or inaccuracies in the information provided, or for any actions taken in reliance thereon. This Website does not constitute a complete description of the Fund; for full details, refer exclusively to the PPM, the Fund's most recent Limited Partnership Agreement (as amended and restated), the Investment Management Agreement dated July 23, 2025, and related subscription documents.

Jurisdictional Limitations: Access to this Website is not intended for persons in any jurisdiction where such access or the offering of Interests would violate applicable laws or regulations. The Fund is not authorized for distribution in any jurisdiction other than the United States to accredited investors, and this Website is not directed at any person in a jurisdiction where the publication or availability of this Website is prohibited. Persons into whose possession this information comes must inform themselves about and observe any such restrictions. The Fund reserves the right to reject any subscription in whole or in part for any reason.

Third-Party Information and Links: Any third-party information, links, or references on this Website are provided for convenience only and do not imply endorsement, sponsorship, or affiliation. The Investment Manager, General Partner, and their affiliates are not responsible for the content, accuracy, or security of any third-party websites or materials.

Intellectual Property: All content on this Website, including text, graphics, logos, and data, is the property of the Investment Manager, General Partner, or their licensors and is protected by copyright, trademark, and other intellectual property laws. Unauthorized use is prohibited.

Governing Law: This Disclaimer and your use of this Website shall be governed by the laws of the State of Delaware, without regard to conflict of laws principles. Any disputes arising hereunder shall be resolved exclusively in the courts of Delaware.

Updates and Changes: The information on this Website is current as of the date indicated and is subject to change without notice. The Fund reserves the right to modify, suspend, or terminate access to this Website at any time.

By continuing to access or use this Website, you acknowledge that you have read, understood, and agree to be bound by this Legal Disclaimer, as well as our separate Privacy Policy, Terms and Conditions, full Legal Disclaimer Policy (available upon request or via link in the footer), and Compliance Policy, each of which is incorporated herein by reference. If you do not agree, you must immediately discontinue use of this Website.

Iron Elk Capital is a fundamentally driven hedge fund dedicated to long-term value investing in public equities, enhanced by strategic options strategies. Our team combines extensive research and disciplined analysis to identify undervalued businesses with enduring competitive strengths, Committed to integrity and excellence, we aim to deliver thoughtful investment solutions.

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