FlowStone Opportunity Fund Announces Q1 Performance

CHICAGO, June 5, 2026 - FlowStone Partners, a WTW Company, announced today that FlowStone Opportunity Fund decreased in Net Asset Value ("NAV") by (0.40%) in the first quarter ended March 31, 2026, while the Russell 2000 increased 0.89% over the same period. The 1940 & 1933 Act registered investment vehicle was launched in August 2019 to provide qualified investors with diversified exposure to private equity through an actively managed secondary-focused strategy. The change in NAV and net asset flows from shareholders brought overall Fund assets to over $710 million as of March 1, 2026.

"Public market volatility increased meaningfully in the first quarter, driven by uncertainty around rates, inflation, geopolitics and technology-sector valuations. In volatile quarters for public markets, we believe that providing downside protection plays a critical role in supporting long term portfolio performance," said Mike Carrano, Managing Director and Investment Committee Member.

Andreas Muenderlein, Managing Director and Investment Committee Member, added, "We have seen solid year-over-year operating performance across our private equity holdings, while valuation multiples moderated in line with broader market sentiment. Market conditions may create selective opportunities, though the pace of activity remains dependent on broader stability. During the quarter, we executed a discounted LP transaction with a liquidity driven seller"

As of March 31, 2026, the FlowStone Opportunity Fund has returned 117.37% since its August 2019 inception, including 6.45% over the past one-year ended March 31, 2026. According to recent SEC filings, the Fund is over 99% committed/invested with exposure to 205 private equity funds and over 1800+ companies across various industries.

About FlowStone

FlowStone Partners, a WTW Company, manages private equity investment products that address the unique requirements of smaller institutional and individual investors by combining the core benefits of private equity secondaries with flexible and accessible fund structures. The FlowStone investment team has over 90 years of combined private equity secondary and primary investment experience. The FlowStone team has the ability to design and manage co-mingled fund products and, using this same private-equity expertise, the potential to build customized vehicles with bespoke strategies to accommodate the needs of a variety of investor types. Learn more at https://flowstonepartners.com.

IMPORTANT INFORMATION - FLOWSTONE OPPORTUNITY FUND

The performance data shown represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance quoted. Email [email protected] for additional information or visit www.flowstonepartners.com for details related to the Fund's performance.

Past performance does not guarantee future results. As of 3/31/2026 the Flowstone Opportunity Fund's total return since inception was 117.37% for Class I Shares.

Russell 2000: The Russell 2000® Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of market cap and current index membership.

Returns are presented net of expenses. Expense ratios are 5.63% for Class A shares; 5.08% for Class D shares; 4.78% for Class I shares; 4.78% for Class M shares. Investments in Class A Shares and Class D Shares of the Fund are sold subject to a sales charge of up to 3.50% and 1.50%, respectively, of the investment. For some investors, the sales charge may be waived or reduced. The full amount of sales charge may be reallowed to brokers or dealers participating in the offering. Your financial intermediary may impose additional charges when you purchase shares of the Fund. Performance figures do not reflect the 2% early repurchase fee that may apply to some unit holders. Expenses are estimated as of the Fund's prospectus, effective July 31, 2025.

This material is published as assistance for recipients, but does not constitute investment advice and is not to be relied upon as authoritative nor to be substituted for one's own judgment. This information is not a recommendation to purchase or sell a security or follow any strategy or allocation. Before making any investment decision, you should seek expert, professional advice and obtain information regarding the legal, fiscal, regulatory and foreign currency requirements for any investment according to the laws of your home country and place of residence.

The information contained herein reflects views as of a particular time, and is subject to change without notice. It is for illustrative purposes only and may not be representative of current or future investments or allocations. Any forward-looking statements are based on assumptions, and actual results may vary from such statements. There is no requirement to update information provided, unless otherwise required by applicable law. While reasonable efforts have been used to obtain information from reliable sources, no representations or warranties are made as to the accuracy, reliability or completeness of third-party information presented. The information contained in this document is unaudited.