This document is published exclusively for the purpose of providing information and conferring transparency to the management carried out by Investidor Profissional, and it is not the Offering Memorandum of the IP Brazil Fund SPC nor of the IP Investment Fund, Ltd. (Funds) and is not to be considered as an offer for the sale of shares of the Funds or of any other security.

The Funds are not listed on the Cayman Islands Stock Exchange and are accordingly prohibited from making an invitation to the public in the Cayman Islands.

"Public" for these purposes does not include any exempted or ordinary non-resident company registered under the Companies Law or a foreign company registered pursuant to Part IX of the Companies Law or any such company acting as general partner of a partnership registered pursuant to section 9(1) of the Exempted Limited Partnership Law or any director or officer of the same acting in such capacity or the trustee of any trust registered or capable of registration pursuant to section 70 of the Trusts Law.

No registration statement has been filed with the United States Securities and Exchange Commission or any State Securities Authority with respect to the offering of shares in the Funds.

The shares in the Funds have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Act").

Shares in the IP Brazil Fund SPC may only be offered, sold or otherwise transferred directly or indirectly to any United States citizen or resident or to any corporation, partnership, trust or other entity chartered or organized under the laws of any jurisdiction in the United States of America, its territories or possessions in private placements exempt from registration pursuant to regulation D of the Act.

Shares in the IP Investment Fund, Ltd. may not be offered or sold within the United States or to any US Person.

This document is not destined to investors with residence in Brazil.

The Funds may not be offered, sold, redeemed or transferred in Brazil.

The offer and sale of shares of the Funds in certain jurisdictions may be restricted by law.

Before subscribing for the shares, each prospective investor should (i) carefully read and retain the Offering Memorandum of the Funds and the relevant Supplement or Annex in respect of the portfolio and/or class of shares; (ii) consult with his/her/its own counsel and advisors as to all legal, tax, regulatory, financial and related matters concerning an investment in the Funds.

Past performance does not guarantee future results.

Investidor Profissional takes no responsibility for the accidental publication of incorrect information, nor for investment decisions taken based on this material.

Access to this document or use of the services or information provided herein is prohibited by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law, rule or regulation.

Este documento não destina-se a investidores residentes no Brasil.

As cotas do IP Brazil Fund SPC e do IP Investment Fund, Ltd. não são registradas na CVM e não podem ser oferecidas, distribuídas, resgatadas ou transferidas no Brasil.