Investor Insights: Q1 MCR Corp

IMPORTANT NOTICE & DISCLAIMER This presentation (this "Presentation") contains proprietary, trade secret and other confidential information of MCR Investors LLC (collectively with its affiliates, "MCR," the "Firm," "we" or "us") and is being furnished to the recipient on a confidential basis solely as an outline of matters for informational and discussion purposes related to a potential investment in the limited partnership interests of MCR Hospitality Fund IV LP (together with any parallel investment vehicles, the "Fund"). By accepting this Presentation, the recipient agrees that, without the prior written consent of MCR, the recipient shall not copy, distribute, make available or otherwise disclose, in whole or in part, any information in this Presentation to any other parties. This Presentation contains general information about the investment strategies intended to be used by MCR. This Presentation is not an offer to sell or a solicitation of an offer to buy any security issued by the Fund or any other security in any jurisdiction in which such an offer or solicitation would be prohibited by law or to any person who is not an "accredited investor" as defied in Regulation D under the Securities Act of 1934, as amended. Any offer or solicitation relating to the securities of the Fund may only be made by delivery of the final confidential private placement memorandum (as amended, restated, supplemented or otherwise modified, the "Memorandum") and the agreement of limited partnership (and related agreements) of the Fund (collectively with the Memorandum, the "Fund Documents") and only where permitted by applicable law. This Presentation is qualified in its entirety by the more detailed information in the Fund Documents. In the event that any terms, conditions or other provisions of the Fund Documents are inconsistent with or contrary to the description of terms set forth in this Presentation, the terms, conditions and other provisions of such Fund Documents shall control. There is no public market for the limited partnership interests of the Fund, and none is expected or intended to develop. Any decision to make an investment in the Fund should be based solely on the information in the Memorandum and the governing documents of the Fund. This Presentation is not intended to constitute legal, tax or accounting advice or an investment recommendation. Prospective and existing investors should consult their own advisors about such matters. An investment in the Fund is subject to significant risk of loss of income and capital. Certain information included in this Presentation was derived from third party materials or other sources believed to be accurate, but no independent verification has been made of such material or other sources. The views expressed herein are the opinions of MCR and should not be construed as absolute statements and are subject to change without notice to you. No representation, express or implied, is given regarding the accuracy of the information contained herein. Neither MCR nor any of its affiliates has any obligation to update the information contained herein. The inclusion of any third-party firm and/or company names, brands and/or logos does not imply any affiliation with such firms or companies. None of such firms or companies have endorsed MCR, the Fund or any of their affiliates or personnel. Certain information contained in this Presentation constitutes "forward looking statements" that can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "estimate," "intend," "continue," or "believe" or the negatives thereof or other variations thereon or comparable terminology. Any forward-looking statements included herein are based on the Firm's current opinions, assumptions, expectations, beliefs, intentions, estimates or strategies regarding future events, are subject to risks and uncertainties, and are provided for informational purposes only. Actual and future results and trends could differ materially, positively or negatively, from those described or contemplated in such forward-looking statements. Moreover, actual events are difficult to project and often depend upon factors that are beyond the control of the Firm. Given these uncertainties, no reliance should be placed on such forward-looking statements. No forward-looking statements contained in this Presentation constitute a guarantee, promise, projection, forecast or prediction of, or representation as to, the future and actual events may differ materially. The Firm neither (i) assumes responsibility for the accuracy or completeness of any forward-looking statements, nor (ii) undertakes any obligation to update or revise any forward-looking statements for any reason after the date of this Presentation. The delivery of this Presentation at any time shall not under any circumstances create an implication that the information contained herein is correct as of any time after the earlier of the relevant date specified herein and the date of this Presentation. In addition, unless the context otherwise requires, the words "include," "includes," "including" and other words of similar import are meant to be illustrative rather than restrictive and shall be deemed to be followed by the phrase "without limitation." Forward-looking statements, discussions of the business environment and investment strategy of the Fund and investment performance included herein (e.g., with respect to financial markets, business opportunities, demand, investment pipeline and other conditions) are subject to the ongoing novel coronavirus outbreak ("COVID-19"). The ultimate and lasting impact of COVID-19 is particularly uncertain and difficult to predict; therefore, such forward-looking statements do not reflect COVID-19's ultimate potential effects, which may substantially and adversely impact the Fund's execution of its investment strategy. Any specific investments or case studies identified in this Presentation were selected for inclusion on the basis of being representative of investments or commitments to invest that the Firm believes are comparable to investments that the Fund may seek to make. It should not be assumed that investments identified were or will be profitable, that their performance is necessarily representative of the Firm's overall performance, that MCR will be able to effect similar changes or improvements in the strategies, business or operations of any future investments or that decisions MCR or the Fund will make in the future will be comparable. Improved portfolio investment results are due to a number of factors in addition to MCR's asset management approach, including the skills and capabilities of portfolio investment management, contributions by consortium partners, industry trends and conditions and general economic and financial conditions. Actual results may differ materially, positively or negatively, from those reflected in this Presentation. The asset management approach of MCR to each portfolio investment is unique and depends on the facts and circumstances of that particular company. The asset management approaches described in any specific investments or case studies identified in this Presentation may or may not be used for the Fund but are representative of the approaches MCR may employ. No assurances are given that any such asset management approach will be employed by MCR or will achieve any particular result. The portfolio investments included herein are based primarily on the Firm's internal projections and research conducted leading up to the initial investment in the relevant transaction. Except where otherwise indicated, such information has not been updated subsequent to the making of such internal analysis, is not intended to provide an update of company performance, and at the time made was and remains today subject to a number of actual contingencies which are generally not discussed herein. References to the investments included in the case studies should not be construed as a recommendation of any part investment or security. Recipients of the Presentation acknowledge and agree that it may contain material, non-public information and that the United States securities laws, and applicable laws in other countries, prohibit any person or entity who has material, non-public information about an issuer or securities from purchasing or selling securities of such issuer or from communication of such information to another person or entity. MCR 2