BOOTHBAY ABSOLUTE RETURN STRATEGIES, LP BOOTHBAY JULY 2017 B I es o MANAGEMENT. LLC OVERVIEW Boothbay Absolute Return Strategies, LP ('Boothbay') is a market neutral multi-strategy fund that aims to combine non-correlated positive expectancy strategies into a cohesive portfolio. which is further enhanced by operational and structural alphas. Boothbay uses a combinavon of proprietary technology and experience. to target traditional and non-traditional sources of alpha. INVESTMENT PHILOSOPHY Boothbay seeks to generate absolute returns with low volatility and low correlations to traditional asset classes through all market conditions. Boothbay employs a range of investment strategies with broad industry, sector, style and geographic diversification. Capital is deployed based on strategy edge, background, volatility and correlations to the market and to other strategies. Live aggregated data allows for risk and capital allocations to be dynamically managed. COMPETITIVE ADVANTAGES • Differentiated approach through 'open architecture' increases talent spectrum available, including niche strategies with structural edges • Selection process involves customized terms and risk parameters for every manager • Includes 'First-Lose allocations • Position-level transparency enables greater risk oversight in the pursuit of absolute net returns • Proprietary portfolio allocation and optimization tools used for manager selection and to distribute allocations • Risk management framework assesses and monitors risk at multiple levels including market or factor based hedging overlay FOUNDER BIOGRAPHY As Managing Member of Boothbay. Mr. Glass oversees all allocation and portfolio construction decisions. Prior to Boothbay, Mr. Glass served as President from 2007-2009 of a multi-strategy hedge fund. Platinum Management From 2000-2007. Mr. Glass sewed as the COO of 'Tiger Cub" Intrepid Capital Management Inc. (intrepid,. a $2.5 billion hedge fund seeded by Soros Fund M