From: Freddie Richardson

From: Freddie Richardson To: [email protected] Subject: Boothbay April 2018: +0.94% ; +5.49% YTD II Enhanced: +1.38% ; +8.36 YTD Date: Fri, 04 May 2018 13:47:13 +0000 Attachments: Enhanced_-_Boothbay_April_2018.pdf; Boothbay_April_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. 2018 .111I'il \1D Annualized ITD Sharpe It]) Boothbay Absolute Return Strategies, L.P 0.94% 5.49% 9.60% 42.09% 2.41 Boothbay Enhanced Share Class • 1.38% 8.36% 14.45% 67.74% 2.45 HFRX : Equity Market Neutral -0.07% 0.66% 1.28% 4.99% 0.22 HFRX : Absolute Return 0.09% 0.39% 1.53% 5.99% 0.59 HFRX : Global Hedge Fund 0.09% -0.93% 0.35% 1.33% -0.06 S&P 500 0.27% -0.96% 8.16% 35.09% 0.77 •Enhanced Share Class ITD numbers include proforma returns, prior to Enhanced Share Class launch in August 2017. 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 EFTA00817005 New York, NY 10019 PAPowered by Backstop EFTA00817006