Please consider the following when assessing the awards received by Ironwood Capital Management (“Ironwood”). Awards that Ironwood did not win, but which Ironwood may have pursued or been nominated for, are not disclosed above. Nomination for, or receipt of, any award is not necessarily indicative of any particular investor’s experience or a guarantee that Ironwood will perform similarly in the future. For certain awards that Ironwood has received or has been nominated for, Ironwood purchased a table to attend the awards ceremony. Award sponsors commonly set criteria upon which awards are based, including but not limited to: investment strategy; length of track record; assets under management; investment manager location; whether the investment manager reported information to the sponsoring institution’s database; or other factors considered relevant by the award sponsor. Awards were generally given based on a combination of quantitative metrics (including returns, Sharpe ratios, implementation) and subjective judgments about investment managers and their products made by the award sponsor (or their designee). Further descriptions of the metrics, judgements and limitations for these awards may be found at the award sponsors’ websites.