Investor Presentaiton

39 CONFIDENTIAL I}} FlowStone Opportunity Fund | Terms and Conditions Structure Permitted Investors Subscriptions Valuation Distributions 1940 Act Registered Closed-End Fund Units are registered under the 1933 Act Continually offered closed-end fund Qualified Clients and Qualified Purchasers Quarterly, subscriptions due 5 days prior to quarter-end Advisor values the Fund assets quarterly and reports a Net Asset Value ("NAV") per unit quarterly Net Asset Value is subject to approval by the Fund's Board of Trustees Dividends are paid in Fund units unless otherwise specified by the investor Tax Redemption Option Quarterly redemptions subject to 5% of the Fund's NAV and Board approval 2% redemption fee within first 12 months Available Share Classes Maximum Sales Load Form 1099 Class A Class D Class I Class M 3.50% 0.85% 1.50% None 0.30% None None None Distribution/Shareholder Servicing Fees Annual Management Fee(2) Performance Incentive Fee (3)(4) Fund Expenses 1.25% annually of Fund assets, paid quarterly 10% of Fund gains (assessed quarterly, subject to a high-water mark) 0.70% annual expense cap(5) Investment/Subsequent Minimum Investment $50,000/$10,000 $50,000/$10,000 $1,000,000/$10,000 $100,000/$10,000 Note: This presentation is for discussion purposes only and is not intended to be an offer to sell or the solicitation of an offer to buy any securities. In the event securities were offered, this presentation would be superseded and replaced in its entirety by a preliminary or final term sheet, prospectus, offering agreement or memorandum, partnership agreement and/or other supplemental and controlling documents for a specific offer. In the event of any inconsistency between the information presented herein and that information presented in a preliminary or final term sheet, prospectus, offering agreement or memorandum, partnership agreement and/or other supplemental and controlling document, the latter shall govern in all respects.

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