1 Emerging Asset ManagerAlpha Box Fund Emerging Asset Manager Currency Fund Presentation Quadron Capital © 2014

2 Key Information Strategy Risk Management Quantitative Risk-AdjustedSystematic Algorithmic Automated Medium and High Frequency Trading Key Information Risk Management Systematic Risk Diversity Multiple Brokers Multiple Liquidity Providers Low Latency Trade Execution Max leverage: 7:1 Standard Leverage: 1:1 Risk Committee: CEO, CIO active monitoring Average Trade Length: 2 minutes Ongoing 5 Year Back Testing

3 Key Investment Terms 15%+ PA (net of all fees) MonthlyEmerging Asset Management $100,000 USD Management Minimum Investment Expected Rate of Return Contributions 15%+ PA (net of all fees) Monthly Redemptions Monthly Fees (Management) Performance 2% Fee 20% Auditor Deloitte Administrator Law Firm Apex Fund Services Conyers Dill & Pearman Quadron Capital Bermuda Advisor Locality

4 Investment Objective Objective:The investment objective of the Fund is to achieve consistent capital gains with the use of systematic algorithmic quantitative trading in the most liquid currency pairs. Risk Management: Using the experience of the investment managers and advisors trading is uncorrelated with minimal leverage. Multiple brokers and liquidity providers are used to reduce systematic risk. Automation removes human error and short trade length removes gap down risk whilst operational risk is managed as an ongoing process. Term: Long term investment is the intention of the fund. Whilst currency trading is known for short term trading activity, the Alpha Box Fund offers daily investor reporting with monthly NAV and annual auditing with the option of investor auditing. The current supplement does not impede investors with long lock-in requirements or restrictions on redemptions. Transparency is insured for openness and peace of mind. Structure: Over $3.2billion of assets are currently managed under the Emerging Asset Management structure that has been optimised in the Alpha Box Fund. 3

5 Fund Strategy Strategy Target Size Commitment• The Fund will invest in major currency pairs • A standard leverage of 1:1 will be utilised for algorithmic trading • Systematic risk reduction: Multiple algorithms will be segregated Strategy between sub-accounts and multiple prime brokers • Majority of funds placed in low risk activity algorithm • The fund expects to return more than 15% per year net of all fees • Algorithms will be systematically updated and back-tested • $1 billion AUM Target Size • $50m Estimated first quarter AUM Commitment All investments are liquid

6 About Quadron Capital:Founded: 2014 Registration No: 49154 Domiciled: Bermuda Staff locations: Bermuda, UK, Canada, USA, The Netherlands Service: Fund Advisory, SMA, CTA Specialities: Currency, Futures, Quant Algorithmic Trading What we do: Quadron Capital is powered by significant investing experience and anchored by a strong commitment to risk management. A fund advisory firm, Quadron Capital specializes in quantitative algorithmic trading strategies, providing investment solutions across a broad range of markets to institutional investors and managers including currency trading.

7 15% Return (net of all fees)Alpha Box Fund What to expect: 15% Return (net of all fees)

8 Structure Investment AdvisorQuadron Capital (‘QC’) is the Responsible Entity of the Fund. As the Responsible Entity, QC is responsible for overseeing the operations of the Fund. The Fund has appointed QC as the Investment Advisor to the Fund. Investment Manager Emerging Asset Management Ltd (‘EAM’) is the Investment Manager for the Fund and is a Corporate Authorised Representative of the Fund. EAM was incorporated in May, 2008 by Peter Hughes and John Bohan. Peter is the Founder and Group Managing Director of Apex Fund Services. Apex Fund Services is one of the world’s largest fund administration companies with over US$23 billion of assets under administration and 28 offices across the world. As the Investment Manager, EAM is responsible for managing the investments of the Fund. Regulation The Alpha Box Fund is regulated by the BMA (Bermuda Monetary Authority). The attached Alpha Box US Feeder Fund is located in the US and is exempt from registration under the Investment Company Act of 1940.

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11 The Alpha Box Fund ManagersMr. Peter Hughes Mr. John Bohan Mr. Leroy Lawrence Mr. Andrew Chaudhry Over 15 years of Fund management and ad- ministration Over 10 years of Fund management and ad- ministration 10 years of financial trading experience. Formerly Approved person under MiFID European Regulation 10 years of banking and financial trading experience. Formerly Approved person under MiFID European Regulation Former CFO of FMG Fund Managers Former manager at Citi- Group & Bank of Ireland CEO of Multinational MF- SA and MiFID Authorised Investment Bank/Prime Brokerage Head of Trading at Multinational Investment Bank/Prime Brokerage Former Head of Trading at FSA (FCA) regulated London city firm Former MD of FSA (Now FCA) regulated London stockbrokers • Fund Administration • Banking • Quantitative Trading • Risk Management • Accountancy • Accountancy • Algorithmic Derivatives • Tier 1 Liquidity • Fund Management • Fund Administration Trading • Quantitative Trading • High level banking & regulatory experience • Algorithmic Derivates • FX, CFD, Futures Chartered Accountant Fellow of the Institute of Chartered Accoun- tants (England) Chartered Accountant Fellow of the Institute of Chartered Accoun- tants (England) Bachelor of Science (Uni of Hertfordshire) BA in Business Manage- ment & IT (Uni of Hull) Masters of Securities Investment Institute Associate of Securities Investment Institute

12 Alpha Box Fund Indices Comparison The Alpha Box Fund beatthe major indices on returns during 2012/13 with less downside movement. The VIX chart for the same time period shows the Alpha Box Fund has been uncorrelated to general market volatility.

13 Global Fund Returns Top 50 Mutual Funds YTD Average ReturnsOver the past 5 years FX/Currency funds which were the previous go to place for returns has been noted as sustaining difficult conditions compared to the return of equity markets. However the average return of all FX funds has only made a slight loss in the last year-to-date compared to some other markets, showing a turning point in expectations. FT.com Top 50 Mutual Funds Mutual Fund Comparison This 5 year chart of the top 50 Mutual Fund returns shows steady and growing returns in the investment fund sector. This shows that it is important for a portfolio to include funds as an intricate part of its overall hedging strategy. Morning star

14 Quantitative Fund ComparisonsStandard Deviation Commentary In this year to date comparisons we compare the average of all Currency Funds to the Alpha Box Fund. The Standard Deviation shows that currency funds have seen a large deviation of 7.44% whilst the Alpha Box fund has only seen a controlled half a percent deviation. Sharpe Ratio Using the same core data, the Sharpe ratio here shows a negative Sharpe ratio for the average currency fund. However, the Alpha box shows a very strong 1.599% ratio compared to its peers both in and outside of its group.

15 Internal Strategy StrategyHere you will find data on one of our medium-high strategies that has run since The underlining system consists of 4 mid-high frequency-trading algorithms that require a low to medium market volatility. Each strategy trades a single pair: EUR/USD, GBP/USD, USD/CAD, USD/CHF in mid to high trade frequency. Each Strategy uses 2 sections S1 and S2 trading in contra-directions, with a maximum cover ground of 250pips. Optimum execution is via a raw spread with zero mark up and a maximum transparent round trip fee arranged with the relevant prime broker. MONTHLY RETURNS HWM (NET OF ALL FEES AND COSTS) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD* MDD1** 2013 6.19% 2.19% 3.31% 3.90% 4.64% 6.62% 2.74% 4.83% 4.12% 0.60% 3.32% 3.08% 56.13% -17.39% 2012 2.44% 6.31% 2.92% 1.58% 7.24% 0.91% 5.45% 1.70% 3.86% 5.32% 2.14% 3.52% 52.82% -17.09% 2011 3.01% 3.06% 2.86% 5.59% -0.86% 4.69% 2.54% -0.59% 6.57% 4.04% 2.49% 3.37% 43.29% -16.34% 2010 4.38% 4.45% 2.40% 12.18% 3.35% 9.38% 4.35% 3.86% -1.09% 2.51% 4.94% 63.25% -17.17% * Compound ** Min Drawdown Risk floating P/L and daily returns KEY RETURN STATISTICS Last Month 3.32% 3 Months ROR 8.82% Year to Date 51.47% 36 Months ROR Average 251.31% ROR 55.26% Winning Months Average 93.62% Winning Month 4.08% RISK STATISTICS Standard Deviation (monthly) 2.41% Downside Deviation Skewness 0.22% Kurtosis 0.85 (monthly) Calmar Ratio (Threshold 3%) 2.70 (monthly) Sortino Ratio (Threshold 3%) 60.49 Sharpe Ratio (RF 3%) Sterling 58.78 Ratio 5.42 Beta (S&P 500 Index) 5.06 -0.22

16 Quantitative AnalysisQuantitative Risk Management Here we have the quantitative risk analysis results on the fund as it is projected to run based on last year’s back testing and live data. The algorithm that we have back tested for the past three years has proven that it has great alpha and earning potential during low to medium volatility markets. However we wanted to make a fund based on this algorithm that would last long term and through varied levels of volatility. To do this the alpha has been controlled and the risks have been heavily managed. We have outlined transparent details of the funds projected quantitative analysis so that investors are able to invest long term with strong confidence of seeing a stable return. The algorithmic risk allocation shows the projected breakdown of algorithmic allocation based on risk as described by VAR and DD (Draw Down Risk).

17 Quadron Capital Ltd 3rd Floor, Williams House, 20 Reid Street, Contact: Quadron Capital Ltd 3rd Floor, Williams House, 20 Reid Street, Hamilton, HM11 Bermuda E: W: US: +1 (860) UK: +44 (0) Disclaimer: This document is issued by the Alpha Box Fund to potential investors and should not be used for the purpose of offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorised. This document should be read in conjunction with the Emerging Manager Platform Ltd Confidential Private Placement Memorandum and The Alpha Box Fund Supplement which will exclusively form the basis of any application. Investment should not be made in the fund until the full risk of investment has been considered. The capital value of the fund is not guaranteed and may fluctuate and investors may get back less than their original investment. Past performance is not necessarily a guide to future performance and the value of an investment can go down as well as up. The data shown in this presentation should be considered an example as it is based on a mixture of real and hypothetical back testing. The value of any overseas investments will also be influenced by the rate of exchange. Past performance is not indicative of future results. This material was prepared exclusively for information and discussion purposes only and to indicate preliminarily the feasibility of a possible investment opportunity. This material is not meant to be, nor shall it be construed as, an attempt to define all terms and conditions of any transaction or to contain all information that is, or maybe, material to an investor.

18 “CEO of Quadron Capital gives a television interviewabout the future of Algorithmic Hedge Funds”