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Private Fund Risks Bytedance

The Fund has not yet received any investments or started its operations, and it lacks any historical record or performance. This information is only a brief summary and is not exhaustive. The terms mentioned here may undergo significant changes without prior notice. It’s essential to note that certain crucial details about the stated terms are omitted, and other key Fund terms are not addressed in this summary. To gain a comprehensive understanding, potential investors should refer to the Fund’s private placement memorandum, limited partnership agreement, and subscription agreement (collectively, “the Fund Documents”), which will take precedence in case of any conflicts with the general terms provided here. An investor should base any investment decisions solely on the information contained in the Fund Documents. Furthermore, there is no assurance that the Fund will achieve its fundraising goals, which could impact its ability to carry out its objectives. The materials contained herein (the “Materials”) relating to Krane Capital Management, LLC (together with its affiliates, “Krane”) and an investment in KC VC 3, LP (the “Fund”) are provided by Krane solely to the recipient (the “Recipient”). In consideration of Krane’s providing the Recipient with the Materials, the Recipient hereby acknowledges and agrees to the following terms and conditions. The Materials are considered to be confidential and/or proprietary by Krane, should be treated in a confidential manner and may not be transmitted, reproduced, or used in whole or in part for any other purpose, nor may they be disclosed without the prior written consent of Krane. By accepting the Materials, the Recipient agrees not to distribute or provide the Materials or any information contained herein to any other person. The Materials are intended for authorized recipients only and must be held strictly confidential. The information contained herein should not be the basis for determining the value of any security, loan or other financial instrument (collectively, “Securities”) or in making any decision to buy, sell or hold any Security. The Materials are not intended by Krane or any of its affiliated funds as an offer to sell, or the solicitation of an offer to purchase, any Security. The information set forth in the Materials is provided for informational and discussion purposes only and is not intended to be, and shall not be regarded or construed as, a recommendation for a transaction or investment, financial or other advice of any kind. It does not constitute or imply any commitment whatsoever, including without limitation an offer to purchase, sell or hold any Security or to enter into or arrange any type of transaction. Any offering will be made only where permitted by law and by means of the Fund Documents that will contain detailed information about any investment to be offered; no sales will be made, and no commitments to enter into investments will be accepted, and no money is being solicited or will be accepted, until the Fund Documents are made available to prospective investors. Any indication of interest from prospective investors in response to the information provided in the Materials involves no obligation or commitment of any kind. Any investment decisions should be based solely on the data in the Fund Documents and after consultation with an investor’s independent advisors. If the Recipient is, or is a fiduciary to, an employee benefit plan subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), a plan subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or a fund or other entity whose assets are deemed to include “plan assets” of such plans, such Recipient agrees that Krane is not providing any investment advice (within the meaning of ERISA) to the plan, the Materials are not based on the particular investment needs of any plan, and the Materials will not serve as a primary basis for any of Recipient’s investment decisions.