Legal Structure

The Fund is organized as a series of Superstate Asset Trust, a Delaware statutory trust. Superstate Inc. serves as the Investment Manager for the Fund. The Delaware Statutory Trust structure means the shareholder’s investment in the Fund is in a separate legal entity which is bankruptcy remote from Superstate Inc. Additionally, this structure affords shareholders with inter-series liability, meaning shareholders will not be subject to potential liability that arises against Superstate Inc.

The Fund is exempt from registration with the U.S. Securities and Exchange Commission (SEC) as a private fund per Section 3(c)(7) of the Investment Company Act and is only available to a limited subset of potential investors that meet certain criteria as outlined in the Private Placement Memorandum. The Fund is offered pursuant to 506(c) exemption of Regulation D of the Securities Act of 1933 and has filed Form D available here.

The Fund is classified as a partnership for U.S. Federal income tax purposes and is not subject to Federal income tax liability. Shareholders are responsible for reporting their distributive share of the Fund's taxable income or loss on their own annual tax returns. Monthly unaudited reports of the Fund's performance will be provided to all shareholders. After the end of a calendar year, audited financial statements and K-1s will be provided to all shareholders.

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