DISCIPLINE, PATIENCE, VALUE…

INVESTING AT GREENSKEEPER

We are fo cused o n t he p re servat io n o f our c l ient ’s cap it a l and p rudent ly c o mp o und ing gro wt h

We ha ve t he r ig ht t emp e rament - we are d i s cip l ine d an d p at ient

We are t rust ed – o ur asset s under o ur manag em ent hav e gro wn st eadi ly s ince i ncep t io n t hro ugh referrals f ro m exist ing c l ient s

We h ave sup er io r c l ient l o yalt y - we have ha d very fe w redemp t io ns t o dat e

We bel ie ve i n a p ay -fo r-p erfo rma nce ap pro ach t o fees

TRACK RECORD

All returns are as at April 30, 2017. GreensKeeper Asset Management Inc. (GKAM) assumed the investment management responsibilities of the Value Fund on January 17, 2014. Prior to that date, the Value Fund was managed by Lightwater Partners Ltd. while Mr. McCloskey was employed by that firm. This document is intended for informational purposes and should not be construed as an offering or the solicitation of an offer to purchase an interest in the GreensKeeper Value Fund or any other GreensKeeper Funds (collectively, the "Funds"). Any such offer or solicitation will be made to qualified investors only by means of an offering memorandum and only in those jurisdictions where permitted by law. GKAM is registered in Ontario, Canada under the categories of Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer. An investment in the GreensKeeper Value Fund is speculative and involves a high degree of risk. Opportunities for withdrawal, redemption and transferability of interests are restricted, so investors may not have access to capital when it is needed. There is no secondary market for the interests and none is expected to develop. Investments should be evaluated relative to an individual’s investment objectives. The information contained in this document is not, and should not be construed as, legal, accounting, investment or tax advice. You should not act or rely on the information contained in this document without seeking the advice of an appropriate professional advisor. Please read the Fund offering memorandum before investing.

10.5% FIVE-YEAR COMPOUND

ANNUAL GROWTH RATE.

THE GREENSKEEPER STORY

Our fo under , Mic hael McC lo skey , a lrea dy ha d t wo s uccessful careers : f i rst as a law p art ner at Aird & Ber l is LLP , and t hen as an in vest m ent bankin g p art ner at Sp ro t t Secur it ies ( no w Co rmark Secur i t ies) . Thi s exp er ience ga ve him i mp o rt ant insight s int o cap it a l mar ket s and a deep under st anding o f business valuat io ns .

Michae l inv est igat ed in ve st ment o p t io ns fo r his o wn mo ney but fo und t he a l t ernat i ves unat t ract i ve ( exce s sive r i sk t aking , s t y le creep , c lo set indexi ng , e t c . ) .

As a re sult , he st ar t ed m anaging his o wn mo ney. Bel ie ving he co uld o f fer a bett er a l ternat ive t o l ike-mind ed i nvest o rs , GreensK eep er wa s bo rn.

M icha el ha s 70% o f his ho use ho ld ’s net wo rt h and 1 00% o f t he ir in ve st able a sset s in vest e d a lo ngsi de GreensK eep er ’ s c l ient s .

Michae l is an avid go l fer , an I ro nman f inisher , a v o racio us reader and a co nt r ibut o r to t he Glo be & Mai l . He and his wife Marie France l i ve in Lo rne P ark , Missi ssauga wit h t heir t wo t eenage daught ers .

PORTFOLIO MANAGER

Michael McCloskey Founder, President &

Chief Investment Officer B.Sc., JD, MBA, CIM, AR

• Fo unded Green sK eep er ( 201 0)

• Fo rmer P art ner & I nve st ment Banker wit h Co rma rk Secur i t ies( 2002-2 01 0)

• Fo rmer P art ner & Lawye r ( M&A, Co rp o rat e F inan ce) at Air d &Ber l is L LP ( 1 995-20 02)

EDUCATION - PROFESSIONAL DESIGNATIONS:

Advi sing Rep resent at i ve , 201 4

Asso ciat e Ad vi sing R ep resent at ive , 201 1

Canadia n I nve st ment Ma nager , 20 09

Admit t ed t o t he Ont ar io B ar , 1 997

J .D. , Osgo o de Hal l Law Sc ho o l , 1 995

M.B.A . ( Ho no urs) , Schul ic h Scho o l o f Business , Yo r k Univers i t y , 1 995

B.Sc . ( Ho no urs ) , Mat hema t ics , U ni versi t y o f We st ern Ont ar io , 1 991

THE GREENSKEEPER VALUE FUND

SERVICE PROVIDERS

IN VESTMENT MAN AGE R

PRI ME B ROK ER AN D C USTO DI AN

AU DI TOR

* Class F Units are for purchasers who participate in fee-based programs through eligible registered dealers. Class G Units are for purchasers and dealers who have greater than $1 million managed by GreensKeeper and who enter into a Class G Agreement with us. Class G Units are not charged a management fee or performance fee by the Fund as Fees are paid directly to us pursuant to the Class G Agreement.

MI NI M UM INI TI AL IN VESTMENT

$50 ,0 00 fo r Accre dit ed I nvest o rs

ELI GI B LE FOR REGI STE RED PLANS

RRSP s , TFSA s, RESP s , e t c .

IN CEP TI ON DA TE No vember 1 , 2 01 1

TYP E OF FU ND Lo ng equit y , Lo ng-t er m cap it a l ap p reciat io n

VA LU ATI ONS Mo nt hly

REDEMP TI ONS Mo nt hly o n 30 days ’ no t ic e

MANA GEMENT EXP ENSE RATI O (MER)

1 .8% ( A ser ies ) 1 .3% ( F ser ies ) <1 .8% ( G ser i es )

PE RFOR MANCE FEE 20% o ver 6% annua l hurdl e ( net o f fees and exp en ses )

ABOUT OUR NAME

Whil e o ur fo under do e s e njo y t he o cca sio nal g am e o f go l f , t he f i rm’s name was cho s en fo r an ent ire ly d i f feren t reaso n.

The in sp irat io n fo r nami ng o ur f i rm “ GreensK eep er” came f ro m an exc el le nt de scr ip t io n o f value inv est ing gi ven by a famo us value i nve st o r :

“Value st o cks are abo ut a s excit ing a s wat ching gra ss gro w. But have yo u ever no t iced just ho w muc h yo ur grass gro ws in a week?”

Chr ist o p her Bro wne Tweedy , Bro wne Co mp any LLC

Like o ur c l ie nt s , we l ike t o s leep at nig ht and p refe r t o t ake a discip l i ned , co nsi st en t and p ro fessio nal ap p ro ach t o inve st ing and gro win g t heir mo ney … and o urs . The cap it a l ize d “K ” a lso s erv es as a co nst ant re mind e r t hat we are st ewards ( K eep ers ) o f o ur c l ient s ’ mo ney ( Gre e ns) .

INVESTMENT CRITERIA

SEL EC T “G REA T” BUSINESSES

Easy t o underst and At t ract ive under l ying eco no mics Durable co mp et i t iv e adv a nt ages

SOL ID MA NA G EMENT

Shareho lder - f r ien dly ma nagement Hist o ry o f so und cap it a l a l lo cat io n Lo ng-t erm t rack reco rd o f success

MA RG IN OF SA FETY

Wait fo r o ur o p po rt unit y Buy st o cks t hat are under valued

INVESTMENT STYLE

PA TI ENC E

Buy st o cks o p p o rt unist ical ly Lo ng ho ldi ng p er io ds ( e nables co mp o undi ng o f ret urns & reduces t ransa ct io n fees )

MI NI MIZ E R ISK

Disc ip l ine d co m mit ment t o p ro t ect against p ermanent lo s s o f cap it a l We a vo id t h e use o f le v erage and aren ’ t fo rced t o sel l in t o ugh market s

OU R BEST IDEA S – CONCENT RA TED P ORTF OLI O

We manag e a s ing le p o rt fo l io o f o ur best ideas ( ~2 0 st o cks)

TESTIMONIALS

Don’t just take our word for it …

"My fam ily has kno wn M ichael fo r o ver 25 years and w e ha ve inv est ed in t he Value Fund. He has a t rack reco rd o f succe ss and we s l eep so undl y at night kno wing t hat h e is gro wing o ur invest ment s safely . "

D r . Er in Ray Anest he sio lo gist

Ro yal Vict o r ia Ho sp it a l

" I have k no wn M icha el fo r o ver 1 5 years a nd co nsider h im a va lued a nd t rust ed advi ser . His p rudent invest ment ap p ro ach fo r t he lo ng t erm t hat igno res t he sho rt t erm market vo lat i l i t y is t he reaso n we ha ve in vest ed much o f o ur lo ng t erm saving s wit h him ."

Er ik d e Wit t e Ent rep reneur , Fo rmer P resident

TD Financ ing Serv ices

TESTIMONIALS

… see what our clients are saying:

“We bega n inv est ing wit h GreensK eep er in 2 01 3 . A large p o rt io n o f o ur t hree grandc hi ldr en ’s educat io n mo ney is gui d ed by Micha el Mc Clo skey and his p at ient ad vic e . We hav e a lo ng-t erm vie w t o wards in vest i ng an d t rust in t he fund’s r isk aversio n st rat egy fo r p r eservat io n o f cap it a l . I reco mmen d GreensK eep er t o my f r iends and family . ”

Ti mo t hy A . Bro wn P resident & CE O ROI Co rp o rat io n

"Mich ael has a co ns e rvat ive yet p ro duct ive ap p ro ach t o select ing co mp anies t o in vest o ne 's hard earn ed cash . I wi l l be increa sing my lev el o f funds wit h Mic hael . "

P et er Mc Do nn el l Ret ired , Fo rmer P resident

Adco m I nc .

The foregoing testimonials are from existing GreensKeeper client families and may not be representative of the views of all people or investors. Certain testimonials were provided unsolicited and others were provided by request.

2010 Winston Park Drive, Suite 200 Oakville, ON, L6H 5R7

michael@greenskeeper.ca (905) 827-1179 (direct)

www.greenskeeper.ca