Disciplined investing. Thoughtfully tailored.

Who we are. Highbrook Capital Partners is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. The information presented reflects the firm's general approach and is not investment advice. $1M general account minimum; may be waived at the firm's discretion.

Why clients come to Highbrook. Generalized observations based on the firm's experience with prospective clients. Not every advisor exhibits these characteristics; individual experiences vary.

Portfolio building blocks. Portfolio building blocks shown are illustrative of strategies the firm may employ across client portfolios. Not all strategies are appropriate for or available to every client. Private investments and alternative strategies are generally limited to accredited investors and/or qualified purchasers as defined under federal securities laws and involve material risks, including illiquidity, leverage, limited transparency, and the potential loss of principal.

A different approach to building portfolios. Comparison is illustrative and intended to describe differences in portfolio construction philosophy, not to predict relative outcomes. A 60/40 portfolio and a multi-strategy portfolio have materially different risk, liquidity, fee, and tax characteristics. The "60/40 model" reference is to a hypothetical allocation of 60% global equities and 40% investment-grade fixed income and is not an investable security or a Highbrook-managed portfolio. Capability count reflects strategies the firm has researched or used and is updated periodically; not all capabilities are deployed in every client portfolio.

Investment process. Tax-loss harvesting and other tax-related strategies are subject to client-specific facts, IRS rules (including the wash-sale rule), and prevailing tax law. No assurance is given that any tax strategy will achieve its intended result. Clients should consult their own tax advisor.

A coordinated wealth platform. Highbrook does not provide legal or tax advice. Estate and tax-planning concepts are presented for illustrative and informational purposes and should be reviewed with qualified legal and tax advisors. Monte Carlo, probability-of-success, retirement income, and cash-flow projections are hypothetical, based on assumptions that may not materialize, and do not represent actual or guaranteed results. Inputs and outputs change as client circumstances and market conditions change.

One view, every account. The account values, allocations, and time series shown do not represent any actual client account or actual investment results. The platform shown is the firm's portfolio-reporting system; client data shown is illustrative.

Beyond the statement. Dashboard screens are mockups for illustration of platform capabilities. Position names, values, returns, and call amounts are not actual investments and are not indicative of any client experience or any manager's performance.

This case is one example selected to illustrate the firm's approach to a specific situation. It was not selected based on performance and is not necessarily representative of client experiences generally. The firm has clients for whom outcomes differed, including clients for whom tax strategies did not produce comparable results. Cases were not selected from a defined universe through an objective performance-based screen.

Tax liability estimate. The approximately 30% reduction reflects the estimated reduction in this client's federal capital-gains tax liability resulting from the use of available short-term capital losses generated by the long/short equity strategy, based on the client's marginal tax rate and the size of the offset. The figure reflects tax outcomes only, not investment performance, and does not account for advisory fees, strategy fees, trading costs, or the market risk of the long/short strategy itself, which may produce gains or losses independent of any tax benefit.

Ongoing tax efficiency. Tax-loss harvesting and similar strategies are subject to IRS rules including the wash-sale rule; results depend on client facts. Long/short strategies involve short-selling risk, leverage, and may produce losses that exceed any tax benefit. No assurance is given that any client will achieve comparable tax or investment results.

General information. Highbrook Capital Partners, LLC ("Highbrook") is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration with the SEC does not imply any level of skill or training. Additional information about Highbrook, including its services, fees, and conflicts of interest, is available in the firm's Form ADV Part 2A, which is available upon request and at www.adviserinfo.sec.gov.

Purpose of this presentation. This presentation is provided for discussion and informational purposes only. It is not investment, legal, tax, or accounting advice and does not constitute an offer to sell or a solicitation of an offer to buy any security, strategy, or service. Nothing herein should be construed as a recommendation to engage in any transaction or to adopt any investment strategy. Any investment involves risk, including the possible loss of principal. Past performance is not indicative of future results.

Forward-looking statements. Statements regarding portfolio construction, manager evaluation, tax outcomes, market conditions, and similar matters reflect the firm's current views and are subject to change without notice. Forward-looking statements involve assumptions that may not be realized. Actual results may differ materially from any views, expectations, or projections expressed in this presentation.

Charts, dashboards, screenshots, asset-allocation diagrams, capability menus, case studies, and other graphical content in this presentation are illustrative and are intended to describe Highbrook's general approach. They are not actual client accounts, actual investment results, or recommendations to invest in any specific strategy. Account values, allocations, performance figures, fund names, and committed-capital figures shown in dashboard mockups are fabricated for purposes of illustration only.

Tax-loss harvesting, asset location, and similar tax-aware practices are general strategies the firm may employ. Their effectiveness depends on client-specific facts, the timing of transactions, applicable tax law (including, without limitation, the wash-sale rule and short-term/long-term character of gains and losses), and other factors outside the firm's control. No assurance is given that any tax strategy will achieve its intended result. Highbrook is not a CPA or law firm and does not provide tax or legal advice; clients should consult their own qualified tax and legal advisors.

Estate planning, trust structuring (including GRATs, SLATs, and charitable strategies), Monte Carlo and probability-of-success modeling, retirement-income projections, cash-flow forecasts, and similar planning outputs are informational and hypothetical. They are based on assumptions — including assumptions about future returns, inflation, longevity, tax law, and contributions — that may not be realized. Outputs change as inputs change. Highbrook does not provide legal advice; clients should engage qualified attorneys for the drafting, execution, and review of any legal documents.

References to private equity, private credit, hedged credit, structured equity, special situations, real assets, liquid alternatives, and similar strategies are descriptions of capabilities the firm may use in client portfolios. Such strategies are generally limited to investors who qualify as "accredited investors" and/or "qualified purchasers" as those terms are defined under federal securities laws. Private investments involve material risks, including illiquidity, limited transparency, leverage, lengthy lock-up periods, capital-call obligations, valuation uncertainty, fees and expenses that may be substantial, and the potential loss of the entire investment. Suitability depends on the specific facts and circumstances of each investor.

Comparisons. Comparisons between Highbrook's approach and a generic "60/40" allocation, model portfolios, or other industry practices are illustrative and are intended to describe differences in portfolio construction philosophy. They are not predictions of relative performance. Portfolios with different objectives, risk profiles, asset classes, liquidity profiles, fees, and tax characteristics are not directly comparable. A 60/40 reference allocation is hypothetical and not an investable Highbrook product.

Capability menu. The firm's reference to "30+ capabilities" reflects strategies the firm has researched, evaluated, or used across client portfolios. The list is updated periodically. Not every capability is appropriate for or available to every client, and not every capability is in active use at any given time.

Third-party references. References to custodians (including Charles Schwab and Interactive Brokers), prior employers of team members, software providers, and third-party fund sponsors are factual references and do not constitute endorsements, sponsorships, or testimonials. No third party named in this presentation has reviewed or approved the content.

Professional designations. CFP® is a certification administered by the Certified Financial Planner Board of Standards. CFA® is a designation conferred by the CFA Institute. AIF® is a designation conferred by Fi360. Each designation requires the completion of specified educational, examination, experience, and ethics requirements and ongoing continuing education. Designations do not constitute an endorsement of the holder, the firm, or any service or product.

Team biographies. Information regarding prior employment, prior firm assets under advisement, and similar biographical details is provided for context only. Such references do not imply any current relationship with, sponsorship by, or endorsement from those prior employers. Assets under advisement at prior firms reflect firm-wide figures, not assets personally managed by the individual team member, unless expressly stated.

Confidentiality. This presentation is confidential and intended solely for the recipient. It may not be reproduced, redistributed, or shared with any other person without Highbrook's prior written consent.

No testimonials or endorsements. This presentation does not contain testimonials or endorsements as defined under SEC Rule 206(4)-1. If any client or third party is quoted or referenced in supplemental materials, the appropriate disclosures required by the Marketing Rule will accompany those materials.

Contact. Questions regarding this presentation, the firm's services, or its Form ADV may be directed to corporate@highbrookcap.com or (404) 850-2550.