Evont Dnvord Merger Arbitrage HUBUS133 Alpha Group Capttal Hudson Bay Fund LP Hudson Bay International Fund Ltd. Fund Terms and Strueture Strategies Convortibkis Integrated Risk agemont Voratility Tralling CreLlit Structure Master-Feddet- Strueture Fe

HOBUS133 Alpha Group Capital Hudson Bay Fund LP Hudson Bay International Fund Ltd. Fin» Overview H..I&3on B.3/ (.3artst Mw..4jernent LP is a manager Ot s;ternstive oppo, ;n the global markets targeting traditional and non-tra

he successor in interest to Hudson Bay Overseas Fund Ltd so that a€l performance figures of the Hudson Bay Overseas Fund Ltd. prior to attributed to Hudson Bay International Fund Ltd. See the 'General Disclosures' in the attached appendix for more detail ooncerring the 2010 restructuring. as well as a rest in 2016. Financial indic

n Bay Overseas Fired Lid. so that all pertormaite figur es of the Hudson Bay Overseas Fund Ltd. I.. i -_r ta.Aricus-I I. 2010 have Inn attributed to Hudson Bay International Fund Ltd. See the 'General Disclosures' in the attached appendix for more detail. This summary should be read in coNunction with the Confidential Private Plac

ed in June 2005, and HB Fund LLC (the "HB Fund" and, together with the Master Fund, the "Underlying Funds"), a Delaware limited liability company. Hudson Bay International Fund Ltd. (the "Offshore Fund"), an exempted company incorporated under the laws of the Cayman Islands to operate as a private investment company principally

Wealth Management u ("Deutsche Bank"): (Please check the applicable box next to the Fund in which you will be investing) o Hudson Bay Fund LP o Hudson Bay International Fund Ltd. In connection with your subscription to above-referenced Fund, the Fund, the Manager and /or the Fund's administrator (collectively, the Fund, the

nvestors / Advisory Relationship: • . 1. The Limited Partner hereby certifies that another limited partner of the Partnership or shareholder in Hudson Bay International Fund Ltd. is a Related Investor because it is (check all that apply): a. affiliated with the Limited Partner, b. a member of the immediate family of the Li