BOOTHBAY ABSOLUTE RETURN STRATEGIES, LP g BOOTHBAY APRIL 2O17 USD MANAGImENT.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 combination 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. strategy, volatility and correlations to the market and to other strategies. Live aggregated data allows for risk and capital allocations to be dynamically managed. COMPETITNE 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 an embedded first-loss platform • Live, daily position-level transparency enables market neutral stance and greater risk oversight in the pursuit of absolute net returns • Proprietary portfolio allocation and optimization tool used for manager selection, to distribute allocations and manage concentrations • 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 served as the COO of 'Tiger Cub" Intrepid Capital