ADW Capital Partners, L.P. 8/8/2015 2nd Quarter and 2015 YTD Performance Report "n' Ital Pa Gross Re wn 2015 O2 2015 YTD Inception Average To Date Annual Return -3.52% 13.40% 330.99% 38.35% =return earket Indices Dow Jones -0.32% -0.01% 68.53% 12.30% NASDAQ 2.03% 5.90% 96.20% 16.16% (1) The table above reflects the performance of the Fund for the current quarter, year-to-date and since inception of the Fund. Net returns are net of underlying management and performance fees and expenses as well as brokerage and/or custodial fees and expenses. All returns include the reinvestment of dividends and other earnings. Quarterly and year-to-date figures are estimates and unaudited and have been calculated by the Funds independent administrator, SS&C Fund Services. The Funds performance results have been audited for calendar years 2011, 2012, 2013. and 2014 by the Funds independent auditor, Marcum LLP. Inception-to-date figures incorporate audited results from prior years and unaudited results from the current year. Statements from the funds prime broker (STIG) and custodian (Goldman Sachs) can be provided upon further request. Past performance is not necessarily an indication of future performance or profitability. See Important Notes on page 4. (2) References to Dow Jones. S&P 500. NASDAQ. Russell 2000 and other indices are for informational purposes only. See Important Notes on page 4. CONFIDENTIAL 1 EFTA00287279