Disclosures

Standard ("Standard," "we," "us," or "our") operates the website at standardfund.co and produces related materials, including the investor pages, the data room, and the WISP Owner's Guide (collectively, the "Materials"). The Materials are provided for general informational purposes only. By accessing them you acknowledge and agree to the following.

1. No offer or solicitation

The Materials do not constitute an offer to sell, or a solicitation of an offer to buy, any security, fund interest, or other financial instrument, and shall not form the basis of, or be relied upon in connection with, any contract or investment decision. Nothing on the Site is a recommendation to enter into any transaction. Any offer or solicitation will be made only to eligible investors through definitive offering documents (such as a confidential private placement memorandum, subscription agreement, and organizational documents) that contain complete information about terms, risks, fees, and conflicts of interest, and which would supersede the Materials in their entirety.

2. Private, exempt securities — eligible investors only

Any interests Standard may offer would be offered in private transactions exempt from registration under the U.S. Securities Act of 1933, as amended (e.g., Regulation D), and applicable state and non-U.S. securities laws. Such interests would not be registered with the U.S. Securities and Exchange Commission ("SEC") or any state or foreign securities regulator, and no regulator has approved or disapproved of any offering or passed upon the accuracy or adequacy of the Materials. Any offering would be limited to "accredited investors" and/or "qualified purchasers" (or the applicable standard in your jurisdiction) who can bear the economic risk of the investment, including the total loss of capital. Interests would be subject to substantial restrictions on transfer, would have no public market, and would be illiquid.

3. Not investment, legal, or tax advice

The Materials are not investment, legal, accounting, or tax advice and do not take into account the objectives, financial situation, or needs of any particular person. Standard is not acting as your adviser or fiduciary. Unless separately agreed in writing, Standard is not registered as an investment adviser or broker-dealer and does not provide personalized advice through the Site. You should consult your own legal, financial, and tax advisors before making any decision relating to a sale of your business or any investment.

4. Risk of loss

Investing in private infrastructure and telecommunications assets involves a high degree of risk, including the risk of loss of the entire investment. Risks include illiquidity and long holding periods, use of leverage, concentration, reliance on key personnel, integration and operational execution risk, technology and spectrum risk, competition, regulatory and licensing changes (including FCC and state telecom regulation), interest-rate and financing risk, valuation uncertainty, and general economic conditions. There is no assurance that any strategy, objective, or target will be achieved.

5. No guarantee of results; past performance

Any targeted or estimated returns, multiples, yields, timelines, or other metrics are hypothetical, are provided for illustration only, and are inherently subject to significant business, economic, and market uncertainties and assumptions that may not prove correct. They are not a promise or guarantee of future results. Past performance and prior transactions are not indicative of, and provide no assurance of, future results.

6. Forward-looking statements

The Materials may contain forward-looking statements — including statements about strategy, pipeline, market opportunity, valuations, and expected outcomes — that involve known and unknown risks and uncertainties. Words such as "may," "will," "expect," "intend," "target," "believe," and similar expressions identify forward-looking statements. Actual results may differ materially. Standard undertakes no obligation to update any forward-looking statement, except as required by law.

7. Third-party data and market information

Market figures, transaction multiples, spectrum valuations, case studies, and other data in the Materials — including in the WISP Owner's Guide — are based on Standard's analysis, third-party sources believed to be reliable, and composite, anonymized examples. They are estimates as of the date prepared, may not reflect current conditions, and are provided without warranty as to accuracy or completeness. Case details are illustrative and do not describe any specific client or transaction unless expressly stated.

8. The WISP Owner's Guide is educational

The WISP Owner's Guide and similar resources are educational and general in nature. They are not legal, financial, tax, or M&A advice, do not create any advisory or fiduciary relationship, and should not be relied upon in lieu of advice from your own qualified professionals regarding your specific circumstances.

9. Confidentiality

Non-public information you submit (including financials, network data, and documents in the data room) is treated as confidential and used only to evaluate the opportunity you raise with us. A non-disclosure agreement is available on request. Do not submit information you are not authorized to share. See our Privacy Policy for how we handle personal information.

10. Jurisdiction

The Materials are not directed to, and are not intended for distribution to or use by, any person in any jurisdiction where such distribution or use would be contrary to law or regulation, or would subject Standard to any registration or licensing requirement. Persons who access the Materials are responsible for compliance with applicable local laws.

11. Not a bank; no insurance

Standard is not a bank. Any interests are not deposits, are not obligations of, or guaranteed by, any bank, and are not insured by the FDIC or any other governmental agency.

12. Trademarks

"Standard" and associated names, logos, and marks are trademarks of Standard or its affiliates. Other names and marks are the property of their respective owners and are used for identification only, without implying any affiliation or endorsement.

13. Conflicts of interest

Standard and its affiliates may act in multiple capacities — including as acquirer, operator, sponsor, and manager — and may have interests that differ from, or conflict with, those of sellers or investors. Material conflicts applicable to any offering would be described in the definitive offering documents.

14. Contact

Questions about these disclosures can be directed to partnerships@standardfund.co.