EFTA01384593

HUBUS133 Alpha Group Capital HUDSON BAY CAPITAL Investing with Hudson Bay Why Partner with Hudson Bay? Alpha Generation • Ability to Isolate and Capture Alpha • Differentiated Approach to Investing • Active and Opportunistic Trading allows Hudson Bay to potentially generate Additional Alpha • Nimble and Opportunistic Allocation of Capital between Multiple Strategies — Diversified Approach A Hedged Hedge Fund • Position-level hedging • Low Correlation to markets and other hedge funds (0.01 to S&P) • Outperformance in Down Markets • Diversification • Capital Preservation/Risk Mitigation Value Proposition Investor Partnership • Transparency • Access to investment team • Thoughtful growth • Structured for the long-term • Stable and Reputable Firm • Robust Operational Infrastructure • Best in Class Service Providers • Focus on Operational Risk Mitigating Risk While Generating Alpha See "General Disclosures' in the attached appendix ' For Hudson Bay Fund LP (the onshore fund) Financial indicators and benchmarks such as the S&P 500 Index are unmanaged, do not [erect any management fees. assume reinvestment of inxme. are for illustrarve purposes only. and have material inherent limitations when used in comparison to the rations of actively managed investment products such as the Funds. because they may have volatility. cLamt and other material characteristics that are fundamentally different (Mn those of the Funds In addition, the data used in the benchmarks are obtained from sources considered lo barailiabie but Hvdscat Bay makes no repiesentations or guarantees with regard to the accuracy of such data rr CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0084914 CONFIDENTIAL SDNY_GM_00231098 EFTA01384593