Cypress Capital Private Equity

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� 2020 Cypress Consult Capital Management, L.P. One Montague Place 1st Floor East Bay St., P.O. Box N-4906, Nassau, New Providence; 801 Brickell Ave, Miami, FL 33131, USA Cypress Advisers LLC, Corporation Trust Center 1209 Orange St, Wilmington, DE 19804; Rainier Square 1301, Fifth Avenue, Seattle, WA 9810; Woolgate Exchange 25 Basinghall Street London, EC2V 5HA

The Vaccine Trajectory

We are in the process of dedicating substantial financial ressources into US based pharmaceutical companies showing a very promising approach to mission critical COVID-19 rapid testing methodology

The Covid-19 pandemic is the obvious main concern that is on everyone�s mind both on a personal and economic basis. Everything hinges on the trajectory of potential vaccines and the measures that have to be taken until the vaccine becomes a reality both in development and distribution.

There now exists a light at the end of the tunnel that did not exist before November 9. Both Pfizer ($PFE) and Moderna ($MRNA) have announced vaccines with 95% efficacy. Pfizer expects to produce 50 million doses by the end of 2020 and another 1.3 billion doses in 2021. The Dow Jones, S&P 500 and Nasdaq indexes all closed at record highs on the Pfizer news while the Dow and S&P again hit new highs after Moderna announced its vaccine effectiveness days later.

The vaccine itself comes with logistical hurdles that make this project much more daunting than just producing a vaccine. The Pfizer version, for example, must be transported and stored at exceptionally low temperatures. However, the Moderna vaccine can last for up to six months when stored at standard freezer temperatures.

Much attention in the market will be given to whether these vaccines stay on their stated schedules, and whether they see any hiccups in distribution.

We maintain that value inevitably attracts price. We swing big at our best ideas. Dips and downturns are our double espressos. If it's not ridiculously cheap it's not our cup of tea. And when the crowd stampedes left, we advance right -- with courage of conviction.

In short, we Ignore the crowd.

Welcome to Cypress Capital LLC.

(the �Company�)

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The Company has not been and will not be registered under the U.S. Investment Company Act of 1940, as amended (the �Investment Company Act�), and investors will not be entitled to the benefits of that Act.

In addition, the shares in the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the �Securities Act�). Consequently, shares in the Company may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, �U.S. persons� as defined in Regulation S under the Securities Act absent registration or an exemption from registration under the Securities Act. No public offering of any shares in the Company is being, or has been, made in the United States.

The Company is a registered closed-ended investment scheme registered pursuant to the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended and the Registered Collective Investment Scheme Rules 2008 issued by the Guernsey Financial Services Commission (the �Commission�). The Commission has not reviewed this disclaimer and takes no responsibility for the financial soundness of the Company or for the correctness of any of the statements made or opinions expressed with regard to it.

All investment is subject to risk. The value of the shares in the Company may go down as well as up. Past performance is no guarantee of future returns and there is no guarantee that the market price of the Company�s shares will fully reflect their underlying net asset value. There is also no guarantee that the Company�s investment objective will be achieved. Potential investors are advised to seek expert financial advice before making any investment decision and should be aware that they may not fully recover the amount invested.

A prospectus has been prepared in connection with the admission of the shares in the Company to listing and trading on Euronext in Amsterdam, the regulated market operated by Euronext Amsterdam N.V., and was approved by the Netherlands Authority for the Financial Markets (the �AFM�) on 2 October 2014 (the �Prospectus�). A Dutch supplement to the Prospectus has been prepared which contains specific information for retail investors in the Company in the Netherlands (the �Supplement�). The Prospectus and the Supplement are available on this website.

Neither the Company nor Cypress Consult Capital Management, L.P. (�CCM�), the investment manager of the Company, assumes any obligation to update the information contained in the Prospectus or the Supplement thereto, unless a new offering in the Company will be undertaken.

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