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Heronwood Capital, LLC may only transact business in the District of Columbia if licensed, excluded, or exempted from the District investment adviser or investment licensing requirement. Heronwood Capital, LLC is currently sufficiently licensed to transact business in the District of Columbia and the state of Maryland, and is pending registration in the Commonwealth of Virginia. Any follow-up or individualized responses to persons within the District of Columbia either effecting or attempting to effect transactions in securities, or rendering of personalized investment advice for compensation, will not be made without compliance with the District investment adviser or investment adviser representative licensing requirements or an applicable exclusion. Heronwood will not conduct advisory services with anyone located in a municipality where Heronwood is not properly registered.