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DISCLAIMER: THIS LETTER IS FOR INFORMATIONAL AND EDUCATIONAL PURPOSES ONLY AND SHALL NOT BE CONSTRUED TO CONSTITUTE INVESTMENT ADVICE. NOTHING CONTAINED HEREIN SHALL CONSTITUTE A SOLICITATION, RECOMMENDATION OR ENDORSEMENT TO BUY OR SELL ANY SECURITY OR PRIVATE FUND MANAGED BY T2 PARTNERS. SUCH AN OFFER WILL BE MADE ONLY BY AN OFFERING MEMORANDUM, A COPY OF WHICH IS AVAILABLE TO QUALIFYING POTENTIAL INVESTORS UPON REQUEST. AN INVESTMENT IN A PRIVATE FUND IS NOT APPROPRIATE OR SUITABLE FOR ALL INVESTORS AND INVOLVES THE RISK OF LOSS. INVESTMENT FUNDS MANAGED BY T2 PARTNERS DO NOT CURRENTLY HAVE ANY POSITION IN NETFLIX, BUT THIS MAY CHANGE AT ANY TIME. THEY HAVE NO OBLIGATION TO UPDATE THE INFORMATION CONTAINED HEREIN AND MAY MAKE INVESTMENT DECISIONS IN THE FUTURE THAT ARE INCONSISTENT WITH THE VIEWS EXPRESSED IN THIS PRESENTATION. WE MAKE NO REPRESENTATION OR WARRANTIES AS TO THE ACCURACY, COMPLETENESS OR TIMELINESS OF THE INFORMATION, TEXT, GRAPHICS OR OTHER ITEMS CONTAINED IN THIS PRESENTATION. WE EXPRESSLY DISCLAIM ALL LIABILITY FOR ERRORS OR OMISSIONS IN, OR THE MISUSE OR MISINTERPRETATION OF, ANY INFORMATION CONTAINED IN THIS PRESENTATION. T2 PARTNERS MANAGEMENT LP IS A REGISTERED INVESTMENT ADVISOR. A COPY OF T2’S DISCLOSURE STATEMENT (PART II OF FORM ADV), WHICH CONTAINS MORE INFORMATION ABOUT THE ADVISOR, INCLUDING ITS INVESTMENT STRATEGIES AND OBJECTIVES, CAN BE OBTAINED BY CALLING (212) 386-7160. Why We Covered Our Netflix Short February 9, 2011 Whitney Tilson and Glenn Tongue T2 Partners LLC The GM Building 767 Fifth Avenue, 18 th Floor New York, NY 10153 (212) 386-7160 [email protected]
