Important Information

Open to accredited investors (as defined in National Instrument 45-106 – Prospectus Exemptions) or pursuant to another applicable prospectus exemptions. For information purposes only and does not constitute an offering of any security, product, service or fund, including interests in any investment opportunity or fund described herein. Only for use in connection with exploratory preliminary confidential discussions relating to the business of Top Down Fund Management Ltd. (“Top Down”), and in particular may not be used in making any investment decision. This document contains only summary information and no representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information contained by Top Down.

By contacting you in response to your request, it does not constitute an offering of any security, product, service or fund, including interests in any investment opportunity or fund. Getting in touch is for information purposes only for use in connection with exploratory preliminary confidential discussions relating to the business of Top Down Fund Management Ltd. (“Top Down”), and in particular may not be used in making any investment decision. Getting more information contains only summary information and no representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information contained, by Top Down.

The information exchanged in establishing contact should be treated in a confidential manner and may not be reproduced or used, in whole or in part, for any purpose, nor may it be disclosed without the prior written consent of Top Down.

Some of the statements contained in the information to be provided are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology. They appear in a number of places throughout this presentation and include statements regarding the intentions, beliefs or current expectations of Top Down concerning, amongst other things, the performance of any fund, results of operations, financial condition, prospects, and dividend policy and the markets in which it operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Any views contained herein are based on financial, economic, market and other conditions prevailing as of the date of this document. The information to be provided has been prepared with market information provided by various third-party sources and contains descriptive materials, projections and other data compiled for the convenience of parties interested in the business of Top Down. The information is being delivered to you with the understanding that you will conduct your own independent investigation of those matters, which you deem appropriate without reliance upon any materials set out in herein.

In Canada, the distribution of this presentation is made and will be made only to accredited investors (as defined in National Instrument 45-106 – Prospectus Exemptions) or pursuant to another applicable prospectus exemptions. Further, actual performance of the funds may differ materially from the projected performance of such portfolio investments. Such projections are being utilized in the calculation of the unrealized investment performance and are inherently subject to uncertainty and factors beyond the control of Top Down and the funds. The inaccuracy of certain assumptions, the failure to satisfy certain requirements and the occurrence of other unforeseen events could impair the ability of a fund to realize the returns outlined herein.

By requesting more information, you agree to be bound by the foregoing limitations.