Company: EQS
Filing Date: 2025-04-23
Form Type: PRE 14A
Source: 0001712543-25-000025
Chunk: 7

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-04-23
Form: PRE 14A
Chunk 7
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. Abstentions and broker non-votes will not be
counted as votes cast and will have no effect on this proposal. Brokers may not vote uninstructed shares held in street name for
this proposal.

How are votes counted?

In the election of directors, you may vote
“For” all of the nominees or your vote may be “Withheld” with respect to one or more of the
nominees. If you execute your proxy or provide broker voting instructions without specifying further your preference as to the
nominees, your shares will be voted in accordance with the recommendations of the Board. To ratify the selection of the independent
registered public accountant, you may vote “For” the ratification, “Against,” or you may
“Abstain.” To cast your vote concerning the non-binding approval of compensation paid to the Company’s
executive officers in 2024, you may also vote “For” or “Against” this proposal, or you may
“Abstain” from voting in respect of this proposal. To cast your vote concerning the approval of the Company to
issue shares of common stock below NAV, you may also vote “For” or “Against” this proposal, or
you may Abstain” from voting in respect of this proposal. To cast your vote concerning the approval of the Company to
issue shares of common stock in excess of 19.99% of shares outstanding, you may also vote “For” or
“Against” this proposal, or you may “Abstain” from voting in respect of this proposal. To cast
your vote concerning providing the Board the discretion to authorize in the future, for a period not exceeding one year, the Reverse
Stock Split, you may also vote “For” or “Against” this proposal, or you may
“Abstain” from voting in respect of this proposal. Please refer to the preceding section in considering the
effect of abstentions and “broker non-votes” for Proposals 3, 4, 5, and 6.

Who can attend the Meeting?

All stockholders as of the Record Date, or their duly
appointed proxies, may attend the Meeting. Each stockholder may be asked to present valid identification. Cameras, recording devices,
and other electronic devices will not be permitted at the Meeting.

Please note that if you hold your shares in “street
name” (that is, through a broker, bank, or other nominee), you will need to