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Client Service Presentation

BRIDGING THE GAP BETWEEN FUND MANAGERS AND INVESTORS

Pinnacle Fund Services

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Fund Services Presentation

1 Pinnacle Overview 2 Pinnacle Team 3 Why Pinnacle 4 Working with Pinnacle 5 Contact 6 Sample Reports

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Pinnacle Overview

Purpose

To provide exceptional services to the investment fund industry by building meaningful connections with our clients and each other

Excellence

• Everything we do must be of the highest quality.
• We will research and develop innovative solutions

that help our team and clients achieve success.

Guiding Principles

Resepect

• We will respect each individual’s dignity and merit.
• In all our interactions with clients and team members, we

will deal with others as we would have them deal with us.

Collaboration

• We will be a learning organization, turning mistakes

into learning, and sharing solutions with each other.

• We will work to bring out the best in each other

through a nurturing and supportive culture.

Accountability

• We are responsible to the clients we serve, the employees we work

with and the communities we live in, wherever they are in the world.

Integrity

• We believe that nothing is more important than our

reputation, and behaving with the highest levels of integrity is fundamental to who we are.

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Pinnacle Background

Major milestones…..

Inception

Pinnacle US founded by David Smith & US partners.

2004

Canada

Pinnacle Canada co- founded by David Smith and Keith Donald

2011

Growth

Pinnacle Group grown to $5bln+ AUA, 100+funds & 25 staff

2014

US sale, Canada buy-

• ut

Pinnacle US sold to large financial services group; Pinnacle Canada local management buy-out

2015

New technology

Moved to PFS- Paxus technology platform.

2015 2020

Goal

Have offices in major financial services centers

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Scope of Services

Types

• Investment funds
• Hedge funds
• Fund of funds
• Private equity
• Managed

accounts

• Family Office

Jurisdictions

• Canada
• United States
• Bermuda
• Cayman Islands
• British Virgin

Islands

Management team has extensive in

• ffshore and US

funds

Strategies

• Equities
• Fixed

income/debt

• Derivatives
• Asset backed
• Insurance

linked securities

Staggered day to cover all North American time zones Staff trained on multiple strategies

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Pinnacle Metrics

Growing….. Client Servicing

• Assets under Administration at 9/30/2017 - $7 Billion
• # of Funds – 120
• # of Clients – 45

Headcount

• 18 – Vancouver
• 1 – United States

Financials strong, increasing corporate governance

• Profitable, consistent revenue growth, year over year
• Appointed KPMG as auditors for fiscal 2016
• Enhanced senior management and executive team
• SOC Type I Certification

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Strategic Aims

Global expansion, controlled growth…. Global growth

• Added East Coast office in 2016
• Next locations (Asia and Europe) by 2020
• Continue to enhance technology platform

and operational support to clients

• Target AUA of $10 billion by 12/31/2017

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Fund Services Presentation

1 Pinnacle Overview 2 Pinnacle Team 3 Why Pinnacle 4 Working with Pinnacle 5 Contact 6 Sample Reports

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Executive Team

David Smith – Managing Director & Founder

David is responsible for the delivery of fund administration services to clients and investors, the development of Pinnacle’s technology platform and operating systems and the strategic and business development of the company. Prior to founding Pinnacle, David was the founding partner of Pinnacle Fund Administration LLC in the United States, which was subsequently sold to Apex Fund Services. David commenced his career with Grant Thornton in Vancouver and then moved to Bermuda, first at Ernst & Young and then at Prime Management Limited. David is a Chartered Accountant, holds a Bachelor of Arts degree in Economics from Queen’s University and holds the Chartered Financial Analyst designation. David is the current President of CFA Society Vancouver and was awarded the CFA Institute Volunteer of the year award in 2017. He is the Treasurer of Christ Church Cathedral.

Keith is responsible for providing fund administration services to clients as well as corporate strategy, compliance and human resources. Keith has over 18 years' experience in the hedge fund industry, working in Bermuda between 1998 and 2008 at KPMG and CACEIS Bermuda (previously Olympia Capital). Following his move to Canada in 2008 Keith was Chief Executive Officer of CACEIS Canada. At CACEIS, Keith was responsible for all aspects of operations, including new client integration and business development support. Keith is a member of the Scottish and Canadian Institute of Chartered Accountants, holds a Bachelor of Accountancy degree from Glasgow University, and holds the Certified Internal Auditor designation.

Keith Donald – Managing Director & Founder

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Senior Management Team

Alex Chapman – Managing Partner (Pinnacle US)

Alex is the Managing Partner of Pinnacle Fund Services. Prior to Pinnacle, Alex founded the Canadian fund administration business for Apex Fund Services before relocating to the United States to become Managing Director of Apex in Canada and the United States. Prior to Apex, Alex established and managed fund administration businesses in Toronto and Monaco. Alex is a member and fellow of the Institute of Chartered Accountants in England & Wales.

Leah Gosbee – Senior Manager Tax

Leah oversees provision of fund administration services to private equity funds, tax reporting and is Pinnacle’s Controller. She has significant experience in providing Canadian tax reporting for investment trusts, corporations and partnerships and qualified as a Certified General Accountant in 2002 while employed at Berris Mangan Chartered Accountants before joining KPMG as a Senior Manager in 2011. Leah is a member of the Certified General Accountants of British Columbia and holds a Bachelor’s degree in Accounting Science from the University of Calgary. Anton is responsible for the management of the operations team who perform hands on administration of a number of investment funds. Anton oversees Pinnacle’s operations, working to ensure quality service to all clients. He has a wealth of experience both onshore and offshore, gained with PwC from 2005 to 2016 where he was a Senior Manager leading audit and advisory teams across a number of industries.

Anton Schmitz– Senior Manager, Operations

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Fund Services Presentation

1 Pinnacle Overview 2 Pinnacle Team 3 Why Pinnacle 4 Working with Pinnacle 5 Contact 6 Sample Reports

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Why Pinnacle

Quality of Senior Management

• Depth of management team and quality of staff
• Client focused service model – we take care of everything
• Extensive experience in Canadian, US and offshore fund services
• Advice / Guidance on new fund launches and operations
• Complete customization and branding of all investor correspondence

Tax Servicing

• In-house tax expertise - ad-hoc queries, questions and guidance
• ‘Dry-run’ preparation and filing prior to year end
• Complete year end processing of CRA returns and investor slips

Financial Statement Expertise

• Senior management team are all ex accounting firm auditors
• Rigorous internal review of all financial statements

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Operations and Risk Management

Compliance

• Key policies

contained in AML & Office procedures manuals

• Employees certify

compliance at least annually

• Approved Offshore

administrator

• Employee trading

policies and procedures

Operations

• Executives integral

part of daily

• perations
• Two tier review

process

• Risk incident

reporting

• SSAE16 Type II
• Business

continuity plans

• Cyber security

policies

Financial

• E&O, D&O & key

man coverage

• 100% management
• wnership
• KPMG external

auditor

Committee

• Platform for review
• f operational,

financial and reputational risks

• Approve new client

acceptance forms

• Review operational

risk incident forms

• Assess risks

inherent in client base

• Review regulatory

and legal risks

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Fund Services Presentation

1 Pinnacle Overview 2 Pinnacle Team 3 Why Pinnacle 4 Working with Pinnacle 5 Contact 6 Sample Reports

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Conversion to Pinnacle

The Pinnacle client service team will handle all setup and ongoing support:

Client Relationship:

• David Smith, CPA CA, CFA (Managing Director)

Operations Review:

• Anton Schmitz, CPA CA (Senior Manager, Operations)

Fund Accounting:

• Senior Fund Accountant, CPA CA (Or working towards)

Onboarding and setup procedures

• Review offering memorandums, financial statements and other governing documents
• Execute agreements and set target start date
• Pinnacle granted access to fund bank and custodian accounts
• Setup of all investors, commitments and contact information
• Pinnacle commence fund accounting and reporting

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Fund Services Presentation

1 Pinnacle Overview 2 Pinnacle Team 3 Why Pinnacle 4 Working with Pinnacle 5 Contact 6 Sample Reports

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Contact information

www.pinnaclefundservices.com linkedin.com/pinnaclefundservices

David Smith

dsmith@pinnaclefundservices.com Pinnacle Fund Services 1095 West Pender Street, Suite 1130 Vancouver, BC V6E 2M6