From: Freddie Richardson .4

From: Freddie Richardson .4 To: [email protected] Subject: Boothbay December 2018: -0.24% ; +5.71% 2018 /I Enhanced: -0.38% ; +8.45 2018 Date: The, 08 Jan 2019 14:17:06 +0000 Attachments: Boothbay_December 2018_Fact_Sheet.pdf; Enhanced_-_Boothbay_December 2018_Fact_Sheet.pdf Dear Jeffrey, Please find attached our monthly tear sheet that includes net returns, exposures and a general fund overview. As always, please reach out with any comments or questions. 20 IS DUCCI 11 bd. II) it uualiicd Ill) III) r ic Ill) Sortino ITD Calmar lTD Boothbay Absolute Return Strategies,. -0.24% 5.71% 8.17% 42.38% 1.95 6.0S .1. 09 Boothbay Enhanced Share Class • -0.38% 8.45% 12.20% 67.89% 2.00 6.27 2.99 HFRX : Equity Market Neutral -0.43% -3.16% 0.22% 0.99% -0.22 -0.31 0.03 HFRX : Absolute Return -0.96% -0.49% 1.11% 5.07% 0.15 0.24 0.61 HFRX : Global Hedge Fund -1.93% -6.72% -1.04% -4.59% -0.47 -0.58 -0.12 S&P 500 -9.18% 4.24% 5.62% 27.89% 0.47 0.68 0.40 'Enhanced Share Class ITU numbers include proforma returns. prior to Enhanced Share Class launch in August 20)7. Please see disclosures in the enclosed attachments. Boothbay is a multi-strategy hedge fund, which seeks to generate absolute returns with low volatility and low correlations to traditional asset classes through all market conditions Best regards, Freddie Frederick Richardson Boothbay Fund Management 810 Seventh Avenue, 6th Floor New York, NY 10019 powered by Backstop EFTA01009065