Company: EQS
Filing Date: 2025-05-12
Form Type: DEF 14A
Source: 0001712543-25-000028
Chunk: 8

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-05-12
Form: DEF 14A
Chunk 8
---
 nominee), you will need to bring a “legal proxy” or a copy of a brokerage
statement reflecting your stock ownership as of the Record Date.

| 5 |

How can I vote my shares in person at the Meeting?

Shares held directly in your name as the stockholder
of record may be voted in person at the Meeting. If you choose to do so, please bring proof of identification. Even if you plan to attend
the Meeting, we recommend that you vote your shares in advance as described below so that your vote will be counted if you later decide
not to attend the Meeting. Shares held in street name may be voted in person by you only if you obtain a signed “legal proxy”
from the record holder giving you the right to vote the shares.

How can I vote my shares without attending the Meeting?

Whether you hold shares directly as the stockholder
of record or beneficially in street name, you may direct your vote without attending the Meeting by granting your voting proxy to the
Company (if you are the stockholder of record) or by providing voting instructions to your broker or nominee (if you hold shares beneficially
in street name). You may vote online, by phone, or by mail. Please refer to the enclosed voting instruction card for details.

Can I change my vote after I execute my proxy?

Yes. You may change your proxy instructions at any
time prior to the vote at the Meeting. You may accomplish this by granting a new proxy or new broker voting instructions at a later date
(which automatically revokes the earlier proxy instructions) or by attending the Meeting and voting in person. Attendance at the Meeting
will not cause your previously granted proxy to be revoked unless you specifically so request.

What does it mean if I receive more than one notice of the Meeting?

It means your shares are registered differently or
are in more than one account. Please grant a voting proxy and/or provide voting instructions for all accounts that you hold.

Where can I find the voting results of the Meeting?

We will publish final results of the Meeting in a
Company Form 8-K within four business days after the day on which the Meeting ended.

Who can I call if I have a question?

If you have any questions about this proxy statement,
please call our proxy solicitor Georgeson LLC, toll free, at 1-855-733-4090.

| 6 |

<div align='center'>STOCK OWNERSHIP AND PERFORMANCE</div>

Who are the largest owners of the Company’s stock?

Based