HUBUS133 Alpha Group Capital /, HUDSON BAY CAPITAL Firm Overview Executive Summary Firm Hudson Bay* strives to generate alpha by employing a diverse set of catalyst-driven absolute return strategies that are intended to be uncorrelated to each other and to the major indices. Investment Focus Our thirteen portfolio teams invest across the corporate capital structure and often trade around or in conjunction with an event or catalyst in an effort to exploit market inefficiencies. We seek to achieve persistently positive returns while maintaining a focus on risk mitigation and capital preservation. Facts and Figures Founded in December 2005, Hudson Bay manages over $2.7bn and employs 75 people, including 37 investment/risk professionals. History Edge 'Hudson Bay Capital Managemert LP The history of the firm dates back to 1997 when Sander Gerber launched his proprietary trading firm. The firm's portfolio, personnel, and investment process were absorbed by Hudson Bay in 2005 which began to offer its investment strategies to outside investors following the same investment process and philosophy. • Scalable, repeatable investment process that has generated consistent returns through all market conditions • Risk mitigation is integrated throughout the fabric of the firm • Dynamic, opportunistic, capital deployment • Structuring trades to Unlock Optionality • Collaborative culture allows for Alpha at the Intersection of Strategies CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0084896 SDNY_GM_00231080 EFTA01384588