f August 1, 2010. (a) Hudson Bay Fund LP CHEF") and Hudson Bay International Fund Ltd ("REIF") became 'feeder furds" in Hudson Bay Master Fund Ltd. (the "Master Fund' and together with HBF and HBIF, the "Funds') in a master feeder structure. at which time the investors in Hudson Bay Overseas Fund Ltd. became inves

d Term Sheet) of Secondary Opportunities Fund III, LP (together with its parallel investment finds and alternative investment funds, if applicable, the "Master Fund') in the attached Confidential Private Placement Memorandum of the Master Fund dated December 2013 (as it may be farther amended and/or supplemented