OpenAI

* The tokenized assets referenced herein (including Paimon High Yield ($HYD) tokens, Paimon Pre-Access SPV tokens such as $SPCX, $XAI, $STRP, $CRSR, and any other Paimon-issued tokens) (the "Tokens") have not been registered under the US Securities Act of 1933, as amended ("Act") or the securities or financial instrument laws of any other jurisdiction. The Tokens may not be offered or sold in the United States or to US persons unless registered under the Act or an exemption from the registration requirements thereof is available. In certain jurisdictions, including the European Economic Area, the United Kingdom and Switzerland, the Tokens are offered and sold only to qualified investors or professional clients, as the case may be (or that jurisdiction's analogue thereof). Other jurisdiction-based prohibitions and restrictions apply. See paimon.finance/legal for details.

The Token issuers (including Paimon Fund LP) are not registered as investment companies under the US Investment Company Act of 1940, as amended, or as an Alternative Investment Funds or Undertakings for Collective Investment in Transferable Securities in the European Economic Area, or under the securities or financial instrument laws of any other jurisdiction. The Token-related communications herein are not directed or intended for any investor to which the Tokens are not offered.

Paimon tokens provide their holders with economic exposure to the value of their underlying assets (such as an interest in a private credit fund or an LP interest in an SPV holding private-market shares ). However, the Tokens are not themselves direct shares of stock (e.g., SpaceX), units of a fund (e.g., BCRED), or any other underlying asset. They represent an interest in the Paimon Fund LP or an associated SPV, and do not provide their holders with direct rights to hold, vote, or receive the underlying assets.

The communications on this web page are only intended for actual or potential business relationships, technical integrations, or prospective qualified investors with respect to Tokens. Nothing herein constitutes any offer to sell, or any solicitation of an offer to buy, any assets (including any Tokens or assets that may be deployed to or accessible via Paimon's platform or future Paimon Chain ). Nothing herein constitutes investment, legal, tax or financial advice. Acquiring Tokens involves risks. A holder of Tokens may incur losses, including total loss of their purchase price. Past performance may not be an indication of future results. Investors are responsible for conducting their own research, investigation, verification, checks or consultation for professional or investment advice.

Paimon Finance is an independent investment platform and is not affiliated with, sponsored by, endorsed by, or partnered with Blackstone Inc., KKR & Co. Inc., Calamos Investments, or any of their respective affiliates. All references to third-party funds (including BCRED, K-INFRA, and CAPIX) are for informational and identification purposes only to describe the underlying assets of the Paimon High Yield portfolio. All trademarks, service marks, and trade names are the property of their respective owners. Investment in Paimon Finance products involves risk, including the possible loss of principal.

Paimon Management, an investment adviser to the Paimon Fund LP, is registered as a BVI Approved Investment Advisor. Paimon Management is not registered as an Investment Adviser with the U.S. Securities and Exchange Commission ("SEC"). Registration in any jurisdiction does not imply a certain level of skill or training. The Adviser shall not be responsible for any errors or omissions, or for the results obtained from the use of the information provided by the Adviser, Paimon Fund LP, or any of their respective affiliates, control persons, agents or representatives.

The Token issuers, their affiliates (including Paimon Management and Paimon Fund LP), their respective shareholders and members, and their respective directors, officers, employees, consultants, agents and representatives (the "Paimon Persons") do not endorse, the Paimon Persons do not make any representation or warranty whatsoever (express or implied, including but not limited to any warranty of merchantability, fitness for a particular purpose, or non-infringement) regarding, and THE PAIMON PERSONS SHALL NOT HAVE ANY LIABILITY WHATSOEVER WITH RESPECT TO ANYONE'S USE OF, any third-party products, services or technologies referenced herein (including but not limited to assets, data, or services from partners like Blackstone, SpaceX, or others).

Additional terms and restrictions apply. See paimon.finance/legal/terms-of-service, paimon.finance/legal, paimon.finance and (as applicable) the Token offering documents for details.

The communications herein may contain forward-looking statements, including, but not limited to, statements regarding future financial performance, business strategies, or expectations for the growth or development of Paimon Finance, Paimon Fund LP, Paimon Management, or any of their respective affiliates (each, an "Applicable Entity"). These statements are based on management's current expectations, estimates, projections, and beliefs, and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. Forward-looking statements can be identified by the use of terminology such as "may," "will," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue," or the negative of these terms or other similar expressions. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include, but are not limited to, the following: economic, competitive, legal, governmental, and technological factors affecting the operations, markets, products, services, or prices of any Applicable Entity. No Applicable Entity undertakes any obligation to update or revise any forward-looking statements, whether as of new information, future events, or otherwise, except as required by law.

^¹ APY (Annual Percentage Yield) and other return figures are estimates and not guaranteed. For $HYD, the "10.4% Annualized Return" is based on the target or historical performance of the underlying assets (e.g., Blackstone Private Credit Fund ) and is not an indication of future results. Past performance is not a guarantee of future returns.

^² Example rates only. Actual rates may vary over time.