CONTRARIAN CONTRARIAN

COMMODITIES
COMMODITIES
A Deep Value Commodity Fund A Deep Value Commodity Fund

INVESTMENT OVERVIEW
Contrarian Commodities, LP (“Contrarian”) is an opportunistic deep value commodities fund. The trading approach is part
systematic, part discretionary and generally counter-trend. It incorporates both a fundamental and a technical understanding of the
markets and seeks to exploit distressed situations with lopsided market positioning and situations experiencing extreme fear and
panic. It was co-developed by long-time industry veteran Randy Samelson and his son Lincoln. Contrarian’s investment objective
is long-term risk-adjusted capital appreciation by gaining exposure to a basket of commodity futures contracts and options.
Contrarian believes it is uniquely situated as a commodity investor and manager due to its deep value investment philosophy,
proprietary trading methodology, and long-term strategic orientation.

CONTRARIAN COMMODITIES LP Net Returns To December 31st, 2022*

*Net of 0.5% management fees and a quarterly incentive fee equal to 25% of profits. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
Program is the same as Contrarian Commodities Program below. COMMODITY TRADING INVOLVES SUBSTANTIAL RISK OF LOSS

CONTRARIAN COMMODITIES PROGRAM (PROP/CLOSED) Net Returns To January 3, 2021*

*Independently compiled by Compliance Supervisors International, Inc. This proprietary account is PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
adjusted to reflect an annual management fee of 0.5% and a quarterly incentive fee equal to 25% of profits. COMMODITY TRADING INVOLVES SUBSTANTIAL RISK OF LOSS

SERVICE PROVIDERS OFFERING TERMS

Administration LICCAR Minimum Investment $500,000
FCM R.J. O’Brien High Water Mark Yes
Legal Counsel Greenburg Traurig, LLC Management Fee 0.5%
Auditor Michael Coglianese, CPA Incentive Fee 25%
Bank U.S Bank Lock-up 6 months
Liquidity Quarterly
Contrarian Investors, LLC (CI) is a Commodity Trading Advisor and Commodity Pool Operator registered under United States laws with the U.S. Commodity Futures Trading
Commission (CFTC) pursuant to an exemption that limits clients and investors to those who are Qualified Eligible Persons, and is also a member of the U.S. National Futures
Association (NFA). There is substantial risk of loss in futures, options, and equities trading. Therefore, such investment is only suitable for sophisticated investors. Returns
presented are net of fees. Actual returns may differ from the returns presented. THIS SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY ANY INTERESTS IN ANY FUND MANAGED BY CONTRARIAN. SUCH AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY INTERESTS
MAY ONLY BE MADE PURSUANT TO DEFINITIVE SUBSCRIPTION DOCUMENTS BETWEEN A FUND AND AN INVESTOR.