From: Freddie Richardson

From: Freddie Richardson To: [email protected] Subject: Boothbay May 2018: +1.09% ; +6.65% YTD // Enhanced: +1.60%; +10.09 YTD Date: Tue, 05 Jun 2018 13:36:15 +0000 Attachments: Boothbay_May_2018_Fact_Sheet.pdf; Enhanced_-_Boothbay_May_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. 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 2018 I I) ‘111111:1lizecl Sharpe fl I) Boothbay Absolute Return Strategies,. 1.09% 6.65% 9.69% 43.66% 2.45 Boothbay Enhanced Share Class* 1.60% 10.14% 14.59% 70.50% 2.50 HFRX : Equity Market Neutral 0.14% 0.81% 1.29% 5.14% 0.22 HFRX : Absolute Return 0.45% 0.84% 1.61% 6.47% 0.63 HFRX : Global Hedge Fund 0.26% -0.66% 0.41% 1.60% -0.06 S&P 500 2.16% 1.18% 8.57% 38.01% 0.81 *Enhanced Share Class ITD numbers include proforma returns. prior to Enhanced Share Class launch in August 2017. Please sec disclosures in the enclosed attachments. Best regards, Freddie Frederick Richardson Boothbay Fund Management 810 Seventh Avenue, 6th Floor New York, NY 10019 EFTA01040869 RPowered by Backstop EFTA01040870