Global Markets: Prime Brokerage Alternative investment managers turn to CIBC Capital Markets for premier prime brokerage that brings together trade execution, reporting, research and capital introduction with a view to enhancing efficiencies and profitabiliity. Global Markets: Prime Brokerage November 2016 CONFIDENTIAL

Prime Brokerage We work with experienced clients looking to efficiently manage and grow their business. A dedicated client service representative provides personalized coverage and connects you to the resources you need within CIBC An integrated clearing and custody framework and top-notch technology support a multitude of complex products, instruments and currencies along with extensive reporting Assistance with trade execution is provided by our Electronic Trading Group: Our smart order router CORE @ CIBC lets you efficiently access all markets trading Canadian equities We offer a full suite of algorithms for Canadian and U.S. execution We also help start-up managers hit the ground running with referrals and counsel from our network of relationships Our offering includes: Trade Execution Margin Financing Securities Lending Capital Introduction Correspondent Brokerage Top Canadian Prime Broker1 1 Top Canadian Prime Broker — Alternative IQ Canadian Hedge Funds Awards Program, 2016 CONFIDENTIAL