1. CONFIDENTIAL 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 profitability. February 2016

2. Prime Brokerage We work with experienced clients looking to efficiently manage and grow their business. 1 1 2014 Canadian Hedge Fund Awards. 2 2014 Americas Global Custodian Awards. CONFIDENTIAL 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 Best Canadian Prime Broker 1 Prime Brokerage — One to Watch (Value) 2

3. Technology Rely on timely and accurate information flow and in-depth reporting with an integrated platform. 2 1 2014 Americas Global Custodian Awards. Advent, the Advent logo, Advent Corporate Actions, Advent Custodial Data, Advent Office, Advent Partner, Advent Portfolio Exchange, Advent Revenue Center, Advent Rules Manager, Advent (logo) APX, Advent Software, Advent Syncova, Advent OnDemand, Axys, Geneva, Moxy, Portfolio Exchange, Qube, Rex, Tamale, Tamale RMS, the Pepper logo, Tamale RMS + Pepper logo, and Syncova are registered trademarks of Advent Software, Inc. Copyright © 2015 VistaOne Solutions. CONFIDENTIAL Advent GENEVA ® is our portfolio management and accounting system Our VistaOne data warehouse solution supports on-line inquiries via PrimeDirect web-reporting The PrimeDirect web portal enables users to build custom reports, receive trades throughout the day and view updated positions in real-time Client Prime Direct VistaOne © Advent Geneva ® Settlement (DTCC & CDS) Risk Analytics (MSCI Barra) Margin Engine (Softek) Stock Lending (Sunguard Global One) Corporate Actions (Bloomberg) Pricing (Thomson Reuters) Prime Brokerage — One to Watch (Reporting) 1

4. Margin Financing Achieve your investment objectives in accordance with regulatory and risk-based margin requirements. 3 1 2014 Americas Global Custodian Awards. CONFIDENTIAL Margin financing solutions and associated services address the regulatory and risk-based leverage needs of today’s most sophisticated institutional investors Our team brings the specialized knowledge and experience needed to work across a variety of asset classes and investment strategies We seamlessly integrate with your workflow, offering: −Advanced reporting and risk management technology −Customized solutions to help you manage your lending activities Prime Brokerage — One to Watch (Financing & Margining) 1

5. Securities Lending Tap into our deep borrowing relationships to access the securities you need to meet your flow and liquidity requirements. 4 1 CIBC is the strongest publicly traded bank in Canada — and the only North American bank in the ranking for the last five years (Bloomberg Markets 2015). CONFIDENTIAL Our industry expertise, global network and depth of book help you get the most out of your securities lending objectives You can access a deep and reliable pool of securities to implement your short strategies, while maximizing the stability of your ongoing short positions Re-invest cash with one of the strongest global counterparties 1 and finance long securities positions on a fully collaterized basis Collectively our team has over 100 years of experience on loan desks. A leading counterparty globally 1 Proactively source stock that may be of interest to our clients Identify trends and opportunities in the marketplace Provide ongoing flow and liquidity commentary

6. Capital Introduction Work with us to help develop and execute plans to connect to new investors. 5 CONFIDENTIAL Our capital introduction program focuses on business strategy and investor introductions We bridge the dialogue with a wide range of senior-level institutional and individual investors in local and global markets By thoroughly understanding their search and investment needs, we can match their selection criteria with the managers on our platform Our deep knowledge of fund-level risk and return profiles, and understanding of counterparty investment criteria, can help expand your reach Customized plans may include: Strategic consulting services Fund manager workshops and training Emerging manager start-up assistance Peer group symposia Topical operational and regulatory sessions Events include: One-on-one meetings Investor roundtables Manager profile catalogue Hedge fund marketing activities

7. Correspondent Brokerage Outsource your back office and access the broad capabilities and scale of a trusted counterparty. 6 CONFIDENTIAL Our Correspondent Brokerage team helps improve margins for IIROC member brokerage firms We currently execute and/or clear 25 — 30% of the Canadian equity market providing our clients the capacity, flexibility and pricing advantage to compete and win With our excellent client service model and desire for strong and long-lasting relationships, we are the partner of choice for firms working in the more sophisticated areas of capital markets As a carrying broker, we provide: Clearing and settlement of trades Custody of firm and client funds and securities Maintenance of books and records Financing of trade settlements as well as firm and client positions Access to our full set of capital markets capabilities