Ascend Partners Fund II,

Ltd. S

Fund Investment Objectives

The Fund's investment objective is to generate superior risk-adjusted returns over a broad range of market environments, through the long and short sales of securities. The Fund invests in companies it identifies through a disciplined process involving thorough bottom-up fundamental research. The Fund is expected to utilize leverage on a moderate to extensive basis, as the Advisor considers appropriate, with respect to its investment activities. The Fund may invest in securities other than common stocks including, without limitation, options, preferred stocks, debt instruments, cash equivalents, and private placements in public and private companies. AUM reflects the aggregate of the various share classes and is ndenominated in USD. Class S only participates in Socially Responsible Investments.