Illustrative Client Disclosures

Client names and scenarios are provided for illustrative purposes only and do not constitute a recommendation to buy or sell any security.

Illustrations assume a hypothetical California resident earning more than $500,000 annually and subject to a 20% federal long-term capital gains tax rate and a 15% California state capital gains tax rate. Actual tax outcomes will vary by investor and may change over time.

Exchange Fund scenarios assume the investor contributed securities to the specified Cache Exchange Fund at the next available closing following the decision date and paid the average management fee and fund expenses applicable to investors. Exchange Funds defer, but do not eliminate, taxes. Taxes are generally due when securities are sold or another taxable event occurs.

Sell-and-Reinvest scenarios assume the investor sold the entire position on the decision date and reinvested the proceeds in a security intended to track the Nasdaq-100 Index.

Hold Stock scenarios assume the investor took no action and reflect the performance of the original position from the decision date through the end date shown.

Investment returns are not tax-free and remain subject to applicable tax liability. Gains may be deferred until a sale or other taxable event occurs.

Investing in an exchange fund involves risk, including the possible loss of principal. Any returns shown are illustrative and not guaranteed. Investment losses may reduce or eliminate the potential benefit of tax deferral. Outcomes may differ based on tax rates, investment horizon, market conditions, and individual circumstances.

Illustrations reference the following hypothetical scenarios:

• Kathy (UNH): Assumes participation in the September 11, 2024 closing of Cache Exchange Fund UNIX, LLC and the net return shown through the end date in the chart.
• Maya (ADBE): Assumes participation in the March 3, 2025 closing of Cache Exchange Fund Fortran, LLC and the net return shown through the end date in the chart.
• Dan (CRM): Assumes participation in the March 8, 2024 closing of Cache Exchange Fund I, LLC and the net return shown through the end date in the chart.
• Akshay (DUOL): Assumes participation in the March 17, 2025 closing of Cache Exchange Fund UNIX, LLC and the net return shown through the end date in the chart.

Cache Disclaimers

The Cache Exchange Fund is an alternative investment with eligibility requirements and minimum holding periods to realize potential benefits. These investments are generally intended for long-term investors who are willing to accept limited liquidity and the risk of loss, including the possible loss of principal.

Cache provides information for educational purposes only and does not provide investment, tax, or legal advice. This material is believed to be reliable but is not guaranteed and should not be considered an offer or solicitation to buy or sell securities. Any investment decision should be made only after reviewing the applicable offering documents.

Diversification may help manage risk but does not ensure a profit or protect against loss. Investment returns may vary significantly over time, and losses are possible.

Forward-looking statements, including expectations or projections, are based on assumptions that may not prove accurate, and actual results may differ materially.

Broad-based indices referenced are unmanaged and cannot be invested in directly.

Cache Advisors LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Advisory services are available only in jurisdictions where Cache Advisors is properly registered or exempt from registration.

Cache Securities LLC is a broker-dealer registered with the U.S. Securities and Exchange Commission and a member of FINRA and SIPC. SIPC protects securities customers of its members up to $500,000, including $250,000 for cash claims.

Cache Financials, Inc., which operates this website, is not a broker-dealer or investment adviser and does not provide investment recommendations.

Third-party endorsements represent the opinions of the individuals providing them and were not compensated. Some endorsers may be investors in Cache and may have an indirect financial incentive related to the value of their investment.