BOOTHBAY FUND MANAGEMENT, LLC February 16, 2017 In the fourth quarter of 2016, Boothbay Absolute Return Strategies, LP (the “Fund”) earned a net return of approximately +0.04%.'” Sharpe Sortino October N ber D b 2016 ITD ctober November December ITD* ITD« Boothbay

ter Date: Tue, 26 Apr 2016 18:03:05 +0000 Attachments: Boothbay_2016_Ql_Letter.pdf Attached please find the first quarter 2016 investor letter for Boothbay Absolute Return Strategies, LP. As always, please feel free to contact Ari Glass or myself with any questions you may have. Freddie Richardson Boothbay Fund Management, LLC 810

B Dear Investor, BOOTH BAY FUND MANAGEMENT, LLC November 04, 2015 For the third quarter of 2015, Boothbay Absolute Return Strategies, LP (the "Fund") posted net returns of approximately +2.0%" versus —4.3% for the HFR Global Hedge Fund Index, +3.7% for the HFRX Index Market Neutral I

and SOUTHERN FINANCIAL, LLC ("LP"). Regarding Southern Financial, LLC's additional subscription on April 01, 2016 in the amount of $TBD Million to Boothbay Absolute Return Strategies, LP, this is to confirm that the provisions of the attached Side Agreement dated July 1, 2014 will apply to said additional subscription, including, wit