MDB Capital/Media/Reports

This document presents a systematic backtesting framework developed to evaluate hypothetical sell strategies across 17 historical portfolio companies. The goal is to illustrate he impact of various investor strategies on returns, based on gain thresholds and redefined exit timelines. The methodology assumes access to all historical investment opportunities enabling a standardized comparison of strategy outcomes. Through rigorous scenario analysis, the study contributes valuable insights into the optimization of investment portfolios, offering actionable scenarios for tailoring investment strategies according to specific risk preferences. The findings underscore the importance of aligning investment approaches with investor profiles, highlighting the trade-offs between maximizing short-term returns and achieving long-term capital appreciation.

IMPORTANT: The projections or other information generated by the MDB Backtesting Analysis of Investment Strategies regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time. Microcap and small cap securities such as illustrated have inherent risks and are only appropriate for a small part of your portfolio, if at all. They may not be suitable for your specific situation. The companies may not be generating income and may have products in the development stage. This document illustrates information about a group of securities and possible outcomes that may not be achieved in the future. Any one of the securities mentioned in this document may be relatively illiquid. Each company, if it is still registered (e.g. has not been sold) should have a link to its SEC filings on their respective Web sites which set out more details, risks and information, which should always be reviewed before making investment decisions. If requested, MDB can provide the links.

This document is not a recommendation to purchase (or sell or hold) any securities. If you wish to consult with MDB a recommendation may only be made, or advice given, by us after receiving specific information about you, including, but not limited to financial condition and needs and risk tolerance. In an IPO there will be a prospectus describing risks, conflicts and critical information which should be reviewed before making an investment decision. MDB and its associated persons have various conflicts; you should carefully review our disclosure documents at www.mdb.com/disclosures. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by MDB Capital to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances. MDB Capital is not a tax, accounting or legal advisor and does not provide tax, accounting or legal advice. Investors should always consult with their financial, tax, accounting and legal advisors to determine the best course of action for their investments.

MDB Capital was compensated for performing investment banking services in the past 12 months for the following companies mentioned in this report: ClearSign Technologies Corporation (CLIR) and eXoZymes, Inc (EXOZ). MDB Capital, its aWiliates, and its financial professionals currently own common stock and warrants to purchase common stock of these and other companies mentioned in this publication and may be buying or selling shares of the companies at any time. Securities trading, account management, and investment banking services are oWered by MDB Capital, a registered broker-dealer and member of FINRA and SIPC. Please view the MDB Capital Customer Relationship Summary (Form CRS) and other important disclosure information at www.mdb.com/disclosures. For additional information, please visit mdb.com or contact us at 945.262.9010.