HONEYCOMB

HONEYCOMB ASSET MANAGEMENT April 30, 2018 Dear Investor, Preliminary estimated month-end performance for a representative investor of Honeycomb Ventures I LP is set forth below with data as of April 30, 2018w. Please contact Gross Return Net Return with any questions. Inception To Date 96.7% 87.1% (a) The reflected returns assume a representative investor invested in Honeycomb Ventures I LP (the 'Fund') that is suthect to a management fee of 0% and a carried interest rate of 10%. 'Nel Return' refleas the performance of the Fund net of Fund expenses and denied interest. 'Gross Return" reflects the performance of the Fund net of Fuld expenses, but gross of carried interest. Carried interest is calculated on an accrued basis, but will not be paid or payable until distributions are made to investors in accordance with the limited partnership agreement for the Fuld. Returns assume the reinvestment of all dividends. interest. ircome and profits. This performance information is estimated and Honeycomb Asset Management LP (the 'Investment Manager) makes no representations as to the accuracy or completeness thereof, and such information should not be relied won for investment related ce other purposes. The performance information is based on unaudited information as of the date hereof and is suttee' to change as actual performance for the relevant period is finalized. The information contained herein is confidential and circulation or &asthma. of all or any part of such information is prohibited. This information is provided for informational purposes only and neither constitutes an offer to set nor a solicitation to invest in any fund managed by the Investment Manager or its affiliates. Any such offering or solicitation will be made only by means of offering materials contairkg important information about the terms of any potential investment in the relevant fund. includng risk factors, conflicts of interest, liquidity oonstrails. and other material aspects about such funds. Past performance is not indicative of future results. The information contained herein is not an advertisement, nor is it intended for public use or distribution. SO Madsen Avenue. IC Floor. New Vont. NY 10022 Confidential - Net for gsabution EFTA00803629