1. TARGETING HIGH RETURNS FROM TRADING OPTIONS Charlie Goldsmith (Curzon Capital) Frank Freeman (Lewis Charles Securities) Curzon Alternative Investments TRADED OPTIONS FUND

2. “normal markets?” For traditional Fund Managers history proves that it is statistically very hard to outperform the markets. This is even more true in recent time and will continue to be so. GREECE – SOUTHERN EUROPE – IRELAND KOREAN MISSILE – JAPAN – EGYPT - LIBYA The Traded Options strategy doesn’t try to outperform any markets, making it irrelevant whether markets are rising or falling. How has the strategy performed during this uncertain period?

3. TRADED OPTIONS FUND

4. We sell Options – so who buys? Every financial institution - banks, pensions and investment funds - protect the value (”hedge”) of their investments by buying Options: “An Option is a contract that gives the right, but not the obligation, to buy (“Call Option”) or sell (“Put Option”) a financial asset at a specific price within a predetermined time period” Institutions purchase Options as insurance by paying a premium to an ‘Options Writer’. Both parties hope to never exercise the Option, (make a claim), which is why nearly 90% of all Options expire worthless. The Options Writer, is therefore statistically likely to make a profit from the premiums collected through selling Options that then expire worthless.

5. The Strategy: The Fund sells Options on the following underlying securities: FTSE 100 INDEX SELECTED FTSE 100 STOCKS GOLD CRUDE OIL (WTI) EURO v USD GBP v USD The Options written are typically short term (6-8 weeks) and in reality are normally bought back at a profit, thereby reducing risk to the Fund. The securities written by the Traders are deliberately selected for their largely uncorrelated movements. The ‘real’ risk of all these asset classes experiencing rapid movements at the same time whilst technically possible is remote.

6. Non-directional investment: The Trader collects a ‘premium’ from buyers of both the Call & Put Options that form the ‘Strangle’ strategy For the duration of the Option, provided the market price remains within the red tram lines of the Strangle, the Trader will do nothing If the market price moves toward one of the red tram lines, the Trader can adjust the Strangle by writing new Options & shifting the tram lines to keep the market price within the Strangle When the Options expire the Trader retains the premiums and adds these to the Fund’s account The strategy is market-neutral or “non-directional”. It does not matter which way the market moves. Provided the asset price stays within the “Strangle” formed by the Put and Call Options, the Trader will make a profit

7. The Traders: Lewis Charles Securities Ltd. are currently responsible for executing the Fund’s trading strategy Based in the City of London, Principal Trader, Frank Freeman, has developed the trading strategy with his team over 15 years The team have successfully used the strategy to provide an advisory service to institutions, professional and sophisticated investors This trading strategy has been proven to generate small and regular profits irrespective of market conditions whilst minimising the investment risk Lewis Charles Securities are highly regulated by the FSA and are members of the London Stock Exchange.

8. Risks: As with any investment offering high returns, there is also a risk of losses – which investors must be made aware of. Should the underlying asset experience extremely rapid price movements preventing the Trader from closing or adjusting positions, large losses can be made To mitigate this risk the fund operates a hedged overlay which protects the funds assets against total loss. The Traded Options Fund should be considered for a prudent part of any portfolio

9. Summary: The Fund sells (writes) options on a focused set of uncorrelated asset classes, and assumes they will expire worthless The Fund aims to deliver returns of 30% - 40% p.a. irrespective of whether markets are rising or falling Institutional trading model adapted for the retail market. The Traders have a long proven track record using this strategy. Fund audited by KPMG, and uses JP Morgan for subscriptions Accepted by most Life Offices & Trustees Unique IFA remuneration model – 20% uplift for FEIFA

10. Curzon Traded Options Fund For more information please contact: or 34-36 Clarges Street London, W1J 7EJ +44(0) 207 355 2427 +44(0) 203 371 7688 Fund Website: www.curzonalternatives.comwww.curzonalternatives.com

11. Important Information This Presentation is based on but does not form part of the Traded Options Fund Information Memorandum (the “IM”) and all terms not otherwise defined in this Presentation have the same meaning as contained in the IM. This Presentation MUST be read in conjunction with, and is subject to, the Risk Factors set out in the IM, including, but not limited to, those included in that Section. The returns shown are provided for illustrative purposes. They do not represent forecasts and are not guaranteed. This Presentation does not constitute an offer or solicitation of an offer, nor shall it or any part of its distribution, form the basis of or be relied upon in connection with any contract. Any and all applications for subscription to the Traded Options Fund must only be made on the basis of and in accordance with the IM. This Presentation is only directed at persons who have sufficient experience and knowledge in matters relating to investments. If you do not have such experience and knowledge you should not rely on it. No representation or warranty, express or implied, is given by or on behalf of the issuers, Curzon Alternative Investments Ltd, as to the accuracy or completeness of this Presentation, or the opinions expressed within it. Curzon Alternative Investments Ltd accepts no liability for any such information or opinions. In issuing this Presentation, Curzon is acting for no other party. Curzon Alternative Investments Ltd is not advising any other party and is not treating any other party as its customer in relation to this information. Curzon Alternative Investments Ltd are registered at 2 Reid St, Hamilton HM11, Bermuda