Atorus, LLC 3/20/2014 Current Date: 3/20/2014 Change on Day: -1.75% Total Return since 1/1/12: 80.87% MSCI World Change on 712M Return: 41.51% Day -0.22% T9O Day Return: 4.73% No of Positions T3O Day Return: -0.34% (+MTM) on Day 164 Current Long Exposure @ Cost: 4,631,248 No of Positions (-MTM) Current Short Exposure @ Cost: (1,120,253) on Day 281 Net Exposure: 3,510,995 Current No. of Starting Capital: 1,000,000 Positions: 445 Current NAV: 1,808,689 Current Leverage (Gross Exposures): 3.18 Profit Factor: Historically 2.25X • 3.25X, depending on measurement interval Win Ratio: 40% - 50% historically T24M (+) NAV Days 51% T24M Avg. Daily NAV (+) Change 1.03% T24M Avg. Daily NAV (-) Change -0.89% Target Vol-Adj. Risk Listed Equities 50.00% Target Vol-Adj. Risk Global Macro 50.00% Targeted Max Loss (ex-Leverage) 10.00% Leverage Target At Inception: 2X Notes on Leverage: We implement leverage of 2X, in other words at inception we upsize our positions by a factor two times greater than our volatility adjusted position sizing. Leverage levels can be customized to eac h investor. T24M Sharpe Ratio: 1.201 Historical Sharpe & Notes: Historical sharpe ratio is in excess of 2.0X (backtest from 1995, see Investor Presentation). Our shame ratio increases materially during market downturns in excess of 20 days of realized volatility. Since we generate positive returns in these environments, the variance in our downside volatility is materially less than broader markets. Recessions, which generally result in market directionality in excess of 20 days of volatility are significant alpha capture opportunities for us. Additionally, by never dollar cost averaging and concurrently adding to our winners we have an inherent assymetry in our volatility profile. NAV 2,00%000.00 1$00,000.00 1,600,000.00 1,400,000.00 1,200,000.00 1.000.000.00 600,000.00 600,000.00 " ce .45)" e 4' 45> 45" 45" 45" toe e cif" ie