2.1 When does the Fund anticipate making a distribution to the shareholders?                              

Answer:  Due to the nature of the assets in the Fund, we are unable to determine when the first distribution will occur or when subsequent distributions may occur.  We will continue to update the Fund’s website with information as we have something to share with shareholders and interested parties.

2.2 How many distributions does the Fund anticipate making?                              

Answer:  Due to the nature of the assets in the Fund, we are unable to determine how many distributions the Fund will make but will follow the Plan and make distributions as assets are sold and cash is available to distribute. The Fund’s assets may be liquidated in one or more transactions.  Assets may also be distributed to shareholders in one or more distributions over time.

2.3 Have the Fund’s assets been liquidated?                              

Answer:  The Fund’s assets are currently being reviewed by multiple interested investors/companies.  WA will seek to sell the Fund’s assets in an orderly manner.  As of the approval of the Plan, the Fund’s assets have not yet been sold/liquidated.

2.4 How long will it take to liquidate all the assets in the Fund and make a final distribution to shareholders?

Answer:  Neither the Fund, the Board, nor WA knows how long it will take to liquidate all the assets in the Fund and make final distributions to shareholders.  Please keep in mind that a substantial portion of the Fund’s assets are invested in early-stage private equity companies, which are illiquid.  It could take anywhere from a few months to a year or more to liquidate these types of assets.

2.5 Will the share price of the Fund be affected as the Fund is liquidated and distributions are made to shareholders?

Answer:  The prices received for the sale of the Fund’s assets will depend on the market for each particular asset and the amount received upon the sale of such assets.  The Fund’s NAV can increase or decrease if the amount received for the Fund’s underlying securities increases or declines as compared to the Fund’s carrying value of such assets or if the Fund makes a distribution to shareholders.

2.6 If the Fund’s liquidation event(s) result in a loss to shareholders, how will that information be determined and communicated to shareholders?

Answer: Information regarding the Fund’s liquidation and distribution results will be shared via the Fund’s website, www.wildermuthfund.com. As always, we recommend you speak with your financial advisor or your tax advisor regarding investment gains/losses and tax implications related to your investments.

2.7 Why can’t the Fund just distribute all of its assets immediately to current shareholders and declare bankruptcy?

Answer: The Fund is unable to distribute all of its assets to current shareholders and then declare bankruptcy because it is required by law to pay, or to provide sufficient reserve for all its liabilities before equity holders receive a distribution. A bankruptcy proceeding would also add to the expenses of the Fund and delay distributions.

2.8 Will institutional investors receive more money in the distribution than individual investors?

Answer: Institutional and individual investors are treated equally under the Plan.  All shareholders hold Class I shares and will receive pro rata distribution(s) based on the number of shares owned as of the date of any distribution as a fraction of the total shares outstanding in the Fund.

2.9 Who could have a claim to the Fund’s assets that are senior to the shareholders?                              

Answer: Delaware statutory trust law (12 Del. C. § 3808) and the Plan require the Board to reserve all of the Fund’s debts, obligations and liabilities, whether contingent, conditional, unmatured, known or unknown.  As a general matter, such claims against the Fund arising from debts, obligations and liabilities of the Fund have priority to the claims of current shareholders, who are equity holders in the Fund and not creditors of the Fund.  Examples of creditors who may have claims against the Fund include the Fund’s service providers, parties seeking indemnification from the Fund pursuant to indemnification agreements, etc.

2.10 Who is exercising oversight over the Fund’s expenses? What is causing variability in the Fund’s expenses on a month-to-month basis?

Answer: The Board exercises oversight over the Fund’s expenses, including professional and shareholder servicing fees.  Generally, the variability of Fund expenses is dependent on the amount of services rendered in each particular month.  Because the Fund pays invoices in arrears, Fund expenses paid in a particular month were for services rendered in a prior month.

2.11 What is the amount of the Fund’s net asset value?                                          

Answer: As of 8:00 a.m. ET on 8/31/2023, the Fund’s net asset value was:

$82,730,109.42

2.12 How many shares of each class of the Fund are outstanding?                              

Answer: As of 8:00 a.m. ET on 8/31/2023, the Fund had the following shares outstanding:

Institutional Class – I:  8,281,292.234 shares