This exemption is available only to accredited investors as defined in National Instrument 45-106 -(as established by the Manager) under this exemption.

Talk to your financial advisor today about Dynamic Credit Absolute Return Fund

This subscription agreement is available for fully managed accounts as defined in National Instrument45-106- Prospectus Exemption. There is no minimum purchase amount (as established by the Manager) for fully managed accounts under this exemption.

This exemption is available to investorswho are not individualsand the minimum initial purchase amount is$150,000.00.

Talk to your financial advisor today about Dynamic Credit Absolute Return Fund

Why Invest In Dynamic Credit Absolute Return Fund

A credit hedge fund that invests in diversified long and short positions of North American credit securities.

An alternative to a traditional fixed income portfolio with strong diversification benefits.

Credit-driven returns with reduced sensitivity to interest rate risk.

Ability to generate returns throughout a complete credit cycle.

A. Not available for purchases, switches out only.

2. This monthly distribution is fixed but not guaranteed and may be adjusted from time to time at the discretion of the fund manager.

This document is a summary only and must be read only in conjunction with the Funds Confidential Offering Memorandum. Information contained herein should not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units in the Fund is made pursuant to its Confidential Offering Memorandum only to those investors in jurisdictions of Canada who meet certain eligibility requirements. The Confidential Offering Memorandum contains detailed information regarding the risks associated with investing in the Fund, and additional information on how the Fund uses leverage to achieve its investment objectives. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Fund. Eligible investors should read the Funds Confidential Offering Memorandum carefully before deciding to purchase units. Investments in the Fund are not guaranteed, their values may change frequently, and past performance may not be repeated. Unit values and investment returns will fluctuate and there is no assurance that the Fund can maintain a specific net asset value.

The benchmark used for analytics for this fund is 5% Hurdle Rate.

Information pertaining to the Dynamic Hedge Funds (the Funds) is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of each of the Funds is made pursuant to its respective Confidential Offering Memorandum only to those investors in jurisdictions of Canada who meet certain eligibility and/or minimum purchase requirements. Important information about each of the Funds, including a statement of their fundamental investment objectives, is contained in their respective Confidential Offering Memorandums, copies of which may be obtained from your investment advisor. Eligible investors should read the Funds Confidential Offering Memorandums carefully before deciding to purchase units.

Investments in the Funds are not guaranteed, their values change frequently and past performance may not be repeated. Unit values and investment returns will fluctuate and there is no assurance that the Funds can maintain a specific net asset value.

Compound growth calculations are used only for the purpose of illustrating the effects of compound growth and are not intended to reflect future value of any mutual fund or returns on investment in any mutual fund.

R2is a measurement out of 100 that shows the extent to which a portfolios movements can be explained by the benchmarks movements.

This document is a summary only and must be read only in conjunction with the Funds Confidential Offering Memorandum. Please see reverse for more details.

Standard deviation is a measure of volatility; it shows how broadly the Funds returns have varied over a given time period.

Dynamic Fund Profile rendered at 2019-05-17 01:53:04 AM

TheDynamic Credit Absolute Return Fundis generally available to investors who can meet certain eligibility requirements under one of two exemptions from the prospectus requirement in order to invest. The exemptions and their minimum initial investment amounts for residents in any province or territory in accordance with applicable securities laws are:

: This exemption is available only to accredited investors as defined in National Instrument 45-106 –

(as established by the Manager) under this exemption.

Investors should contact their investment dealer or Financial Advisor for more information regarding these exemptions and their requirements.

If you qualify under any of the above exemptions and can comfortably invest the minimum dollar amount specified, please accept the disclaimer below to learn more about theDynamic Credit Absolute Return Fund.

If you are a registered Portfolio Manager (Advising Representative) with a client in a fully managed account, there is no minimum purchase amount. There is a bulk subscription agreement that can be used to execute purchases for managed accounts.

Disclaimer:Information pertaining to theDynamic Credit Absolute Return Fundis not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units in the fund is made pursuant to its offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility requirements. Please read the offering memorandum carefully before investing.