Legal & Disclosures

Website
Thank you for your interest in our Website at www.panalce.com. Your use of this Website, including the content, materials and information available on or through this Website (together, the "Materials"), is governed by these Terms of Use (these "Terms"). By using this Website, you acknowledge that you have read and agree to these Terms. The information on this website is not an offer to sell or a solicitation of an offer to buy an interest in any investment fund or the provision of any investment management or advisory services.  Pana LCE does not offer legal, accounting or tax advice.

Who We Are
This Website is maintained and operated by Pana Capital Management LLC (together with its affiliates, “Pana”), which provides administrative and other services to various Pana entities. In accordance with industry custom, this Website occasionally uses terminology that may be interpreted to suggest that our firm is actually a single entity. However, there is no such single entity and all of the entities that comprise our firm have their own separate legal existence.

Materials
All materials are provided “as is”, may not be relied upon for any purpose, and are not subject to express or implied warranties of any kind. In particular, we make no representations or warranties with regard to the Materials' accuracy, completeness, non-infringement or fitness for a particular purpose. You should be aware that a significant portion of the Materials include or consist of information that has been provided by third parties and has not been validated or verified by us. In connection with our investment activities, we often become subject to a variety of confidentiality obligations to funds, investors, portfolio companies, and other third parties. Any statements we make may be affected by those confidentiality obligations, with the result that we may be prohibited from making full disclosures. Without limitation on the effect of other warnings and disclaimers set forth in these Terms, you should interpret any statements we make (on this Website or otherwise) in that context. Please ensure that your own computer security is comprehensive and up to date. We accept no responsibility for viruses, malware or other malicious or damaging software contained in the Materials or otherwise.

Third-Party Sites
We accept no responsibility for third-party sites available through this Website, via hyperlink or otherwise. You are encouraged to review the terms of use applicable to those sites. Any access to, or use of, a third-party site is solely at your own risk.

Not An Offer
The information on this website is not an offer to sell or solicitation of an offer to buy an interest in any investment fund or for the provision of any investment management or advisory services. Any such offer or solicitation will be made only by means of a confidential private placement memorandum relating to a particular fund and/or limited partnership agreement and only in those jurisdictions where permitted by law. There can be no assurance that any investment strategy will be successful.

Forward Looking Statements
This Website may contain certain statements deemed to be forward-looking statements. All statements, other than historical facts, contained within this document that address activities, events or developments that Pana expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by Pana in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, many of which are detailed herein. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond Pana's control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

Past performance does not guarantee future results
It should not be assumed that an investment in any company identified on this Website has been or will be profitable. Not all companies identified on this Website have been or will be an investment of Pana.

Restrictions on Use
We reserve all rights with respect to the design and content of this Website. In particular, you must not misappropriate the design or content of this Website and you must not alter or deface such design or content in any way. Nothing on this Website grants any license with respect to such design or content, except that you may download and use Materials solely for your own personal information.

Ownership of Trademarks, Etc.
All text, photos, graphics, logos, content and other Materials on this Website are protected by United States and foreign copyright, trademark and other applicable laws. In particular, all trademarks, trade names and logos displayed on this Website are proprietary to Pana, its affiliates or their respective owners, and this Website grants no license to them.

Submitting a Business Plan or Other Confidential Information
Due to the large number of business plan ideas and related materials that we review, and the similarity of many such plans and materials, we cannot accept responsibility for protecting against misuse or disclosure of any confidential or proprietary information or other materials in the absence of our express written agreement to do so. Any plans, information and other materials you submit in connection with this Website may be used or disclosed by us for any purpose and in any manner, as we determine in our sole discretion. Please consider this carefully before sending us any information or other materials that you deem confidential or proprietary.

Privacy Policy
For information about our privacy practices, please see our Online Privacy Page here.

Limitation of Liability
Except as specifically agreed by a Pana entity in writing, no Pana individual or entity shall have any liability based upon your use of, or reliance upon, this Website or the Materials. Some jurisdictions limit our ability to disclaim liability. With regard to those jurisdictions, our liability shall be limited to the greatest extent permitted by applicable law.

Modification of These Terms

From time to time, Pana may update or revise these policies. If there are changes to the terms of these policies, documents containing the revised policy or policies on the Website will be updated. We reserve the right to modify these Terms at any time. Please check these Terms periodically for changes. Your continued use of this Website after the posting of changes constitutes your binding acceptance of such changes.

Miscellaneous
This Website is operated and controlled by Pana Capital Management LLC in the United States of America. If it is illegal or prohibited in your country of origin to access or use this Website, then you should not do so. Those who choose to access this Website outside the United States of America access it on their own initiative and are responsible for compliance with all local laws and regulations. These Terms, and any disputes relating to these Terms or your use of this Website or the Materials, shall be governed in all respects by the laws of the State of New York, without regard to conflicts of laws principles. Except as otherwise agreed in writing by the applicable Pana entities, any disputes relating to these Terms shall be resolved exclusively in the state or federal courts located in New York, NY. These Terms set forth the entire agreement between you and us with respect to the subject matter hereof and supersede all prior agreements relating to such subject matter. All Pana individuals and entities are intended third-party beneficiaries of these Terms. Our rights under these Terms may be waived by us only in writing. These Terms are binding on you as well as your successors and permitted assigns. In the event any provision of these Terms is determined to be invalid or unenforceable, such provision shall be deemed severed from the remainder of these Terms and replaced with a valid and enforceable provision as similar in intent as reasonably possible to the provision so severed, and shall not cause the invalidity or unenforceability of the remainder of these Terms.

Effective Date: January 23, 2023

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