Disclosures and risk factors

Prepared by Prasham Capital Partners GP LLC in connection with Prasham Capital LP. This summary is not complete and is qualified in its entirety by the Fund's Confidential Private Placement Memorandum, which must be reviewed carefully before investing.

For accredited investors only · Not FDIC insured · Past performance does not guarantee future results

Important information

This material is for information only. It is not an offer to sell or a solicitation to buy any investment. Any investment will be offered only through formal documents, including a Private Placement Memorandum and subscription materials.

Prasham Capital LP is offered through a private placement and is available only to accredited investors. It is not intended for the general public.

Some statements here look forward and reflect current expectations. Actual results may be different, and those expectations may change over time.

This material is not investment, legal, or tax advice. Investors should review all offering documents carefully and speak with their own advisors before investing.

Past performance does not guarantee future results. The Fund has a limited operating history, and any performance information provided separately to verified accredited investors is not indicative of future results.

Risks and other considerations

All investments involve risk. Investors may lose some or all of their invested capital.

The strategy uses a systematic, rules-based approach that primarily involves index-related instruments, including options. Options and portfolio margin can increase both gains and losses. Market volatility, sharp moves, or unexpected events can lead to losses even when risk controls are in place.

The Fund is not liquid. There is no secondary market for interests. A one-year lock-up applies, and withdrawals after that period require General Partner approval and compliance with the Fund's governing documents.

The Fund is structured as a limited partnership taxed as a partnership. Investors generally receive Schedule K-1s. The Fund expects many positions to qualify for Section 1256 treatment (60% long-term / 40% short-term capital gains), which may improve after-tax outcomes for some taxable investors. Actual tax consequences depend on each investor's individual circumstances and may change with future law or IRS guidance.

The Fund's administrator is Formidium Fund Services, LLC, and brokerage and custody services are provided through Interactive Brokers. Service providers may change.

Performance disclosures

All performance shown on this site reflects the Axiom Strategy as traded in Prasham Capital Partners LLC (the “Prior Entity”). Prasham Capital LP has no operating history of its own. Prior results were not subject to the same expenses, legal structure, investor flows, or operational constraints as Prasham Capital LP and may not be indicative of its future results.

Figures are calculated on returns net of the management and performance fees charged in the Prior Entity.

Risk statistics — Sharpe ratio, adjusted Sortino ratio, return per unit of maximum drawdown, and maximum drawdown — are calculated on monthly net returns for January 1, 2025 through March 31, 2026. The Sharpe ratio uses excess returns over the prevailing 90-day Treasury bill rate. A period of that length is short for statistics of this kind, and the values should be read accordingly.

Past performance does not guarantee future results. An investment in the Fund is speculative, illiquid, and may lose value, including the loss of all capital invested.

Accredited investor categories

Interests in the Fund are offered under Rule 506(c) of Regulation D and are available only to accredited investors. The categories below summarize Rule 501(a); they are a summary, and the rule itself governs.

Individual income exceeding $200,000 in each of the two most recent years, or joint income with a spouse or spousal equivalent exceeding $300,000, with a reasonable expectation of the same for the current year.
Individual net worth, or joint net worth with a spouse or spousal equivalent, exceeding $1,000,000, excluding the value of a primary residence.
A holder in good standing of a Series 7, Series 65, or Series 82 license.
A knowledgeable employee of the private fund being offered.
An entity, including a trust, corporation, partnership, or family office, owning investments in excess of $5,000,000, or in which all equity owners are accredited investors.
A bank, insurance company, registered investment company, business development company, or small business investment company.

Signing this certification is a self-representation, not verification. Rule 506(c) requires the General Partner to take reasonable steps to verify accredited status before any offering materials are provided; that step follows separately.

Selected risk factors

An investment in the Fund is speculative and entails substantial risks. A prospective investor should carefully consider the following summary, and the full risk factors section of the Private Placement Memorandum, in determining whether an investment is suitable.

Options strategy: The success of the Fund's systematic options premium collection strategy depends in part upon the General Partner's ability to identify strikes at which options are mispriced relative to historical observation, and to size and time positions accordingly. The identification of such opportunities is a difficult task, and there are no assurances that such opportunities will be successfully recognized or executed. In the event that observed market behavior diverges materially from the historical record on which the strategy is calibrated — including a previously unobserved tail event — the Fund may incur significant losses, including losses materially in excess of premiums collected. The empirical and regime-discrimination models used to determine strike limits and entry conditions may become outdated or inaccurate as market conditions change.
Short options premium: A short option position creates the risk of significant — and in the case of uncovered calls, theoretically unlimited — loss, in that the price of the underlying index could move beyond the strike sold, increasing the cost to the Fund of closing or covering the position. Losses on a short option position may exceed the premium initially collected by an amount that is material relative to the Fund's capital.
Hedging transactions: The Fund may utilize securities and derivatives for risk management purposes. The Fund will not be required to hedge any particular risk, and the General Partner may be unable to anticipate the occurrence of a particular risk and therefore unable to hedge against it. While hedging transactions may seek to reduce risk, they may result in poorer overall performance than if no such transaction had been entered into. The portfolio will always be exposed to certain risks that cannot be hedged.
Portfolio margin and leverage: If utilized, portfolio margin and leverage subject the Fund to risks normally associated with debt financing and margin trading, including the risk that cash flow will be insufficient to meet required margin or interest payments. Forced liquidation of positions due to margin calls during periods of market stress could result in losses materially in excess of those that would have been incurred absent leverage.
Derivative instruments: Options, swaps, and other derivative instruments may be subject to market risk, liquidity risk, credit risk, counterparty risk, legal risk, and operations risk. The regulatory and tax environment for derivative instruments is evolving, and changes may have a material adverse effect on the Fund.
Concentration risk: The Fund's strategy is primarily focused on options on the S&P 500 Index and related instruments. The Fund will be concentrated in U.S. broad-market equity index exposures and the associated volatility complex. Adverse developments affecting U.S. equity indices, U.S. equity volatility markets, or the listed options market generally may have a disproportionately negative impact on the Fund relative to a more broadly diversified portfolio.
Tax treatment and Section 1256: The Fund expects that a substantial portion of its positions will qualify as Section 1256 contracts, generally subject to mark-to-market treatment and a 60% long-term / 40% short-term capital gains characterization regardless of holding period. There is no assurance that such treatment will continue to be available, or that all of the Fund's positions will so qualify. Prospective investors should consult their own tax advisors.
Illiquidity: An investment in the Fund is speculative and entails substantial risks, including that it is illiquid and subject to significant restrictions on transferability. No market is expected to develop for interests in the Fund.

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Investment product · Not FDIC insured · No bank guarantee · May lose value · For accredited investors only. Service providers may change without notice.