For Financial Professional Use OnlyConfidential Information Enclosed

For Financial Professional Use Only

Strategy• Designed to outperform broad market exposure by investing in growth equities leveraging proprietary primary research

• Science-driven biotechnology and pharmaceutical companies addressing high unmet medical needs are emphasized

Experienced Team

• Award winning scientists who have transitioned to successful professional investors..

• Lead Portfolio Manager Mark G. Charest, Ph.D. has a distinguished scientific background and more than a decade of institutional

healthcare investing experience

• More than a decade of collaboration experience working with LifeSci Partners

LifeSci Platform

• Since 2009, LifeSci Partners has been a leading provider of strategic scientific consulting services for innovative healthcare

companies

• Global presence with more than 100 investment and science professionals including 20+ Ph.D.s and MDs

2

Leveraging the experience of 20+ PHDs and MDs and the hands on scientific achievements of Mark Charest to invest in Biotech

and Healthcare equities with the objective of seeking long-term capital appreciation.

Avoiding fad story stocks to focus on smaller companies with truly advanced scientific breakthroughs and value priced larger cap

stocks.

For Financial Professional Use Only

Healthcare is a Leading Global Industry Segment with Robust Secular Growth

Global healthcare spending

exceeded $8 trillion in 2018

with ~$600 billion biopharma

spend

Robust Innovation ecosystem

Unprecedented science- and technology- driven

innovation developing paradigm shifting technology

Constructive Regulatory Environment

Sustained pace of FDA approval for innovative new

products, new regulatory initiatives streamlining process

Healthy Capital Markets

Strong financing environment providing ample capital to

fund innovation, continued pace of M&A

3

Secular drivers: growing

population, increasing life

expectancy, demographic

shift and expanding access

Healthcare Sector Fundamentals Pharmaceutical Investment Landscape Tailwinds

*Source: Deloitte 2019 Healthcare Outlook

Global health care spending

is projected to increase at an

annual rate of 5.4% in 2018–

2022, outpacing GDP growth

For Financial Professional Use Only

Epilepsy2%

Ophthalmology4%

GI/Ulcer5%

Multiple Sclerosis5%

Hepatitis5%

Respiratory 5%

CNS6%

Rheumatology8%

Diabetes/Obesity10%

Cardiology 10%

Infectious Disease15%

Cancer/Onc/Hem. 25%

Biopharmaceuticals is an attractive global growth sector

Therapeutic Categories: Drug sales as a percentage of the total market

*Source: February 2019 Cowen & Company Therapeutic Categories Outlook

**Source: March 2019 Cowen Pharmaceutical Industry Pulse branded drug prices expected to increase 3-6% annually over next 3 years

$569B

2018

Orphan Diseases4%

Ophthalmology2%

GI/Ulcer4%

Multiple Sclerosis5%

Dermatology5%

Respiratory 5%

CNS5%

Rheumatology7%

Diabetes/Obesity10%Cardiology

8%

Infectious Disease15%

Cancer/Onc/Hem. 30%

$688B

2021P

Biopharmaceutical market

$569B in 2018 and projected to grow

>5% annually over the next five

years*

Growth projections supported by

attractive R&D pipelines, specifically

in oncology and orphan diseases*

Stable pricing outlook maintained

despite ‘noise’ from US Healthcare

reform**

Upside from increasing demand in

China and other developing countries

4

For Financial Professional Use Only

Fund Portfolio Manager

Mark G. Charest, Ph.D. I Portfolio Manager

Mark is an inventor on 8 drug patents who also has a successful career as a healthcare investor at several specialized $1B+ AUM healthcare

technology funds. He led a Medicinal Chemistry Lab at the Novartis Institutes for BioMedical Research after earning his Ph.D. in chemistry and

chemical biology from Harvard University. He is a National Science Foundation Graduate Research Fellow, with an MS in chemistry and chemical

biology from Harvard University. His distinguished career includes the completion of noble prize winning chemist RB Woodward’s work on chemical

synthesis of tetracycline. This work was critical in the creation of an approved drug to treat complicated intra-abdominal infections. After

successfully running a lab at Novartis which included successfully putting a drug into clinical trials. Mark transitioned to Wall Street in 2007. He has

held positions as an SVP at Tekla Capital Management, a Portfolio Manager at New Leaf Venture Partners and an Associate at Great Point Partners.

Mark was a Kauffman Fellow at Panorama Capital where he served on the board of directors of Itero Biopharmaceuticals and was a board observer

at Presidio Pharmaceuticals and PowerVision.

Patents

“Synthesis of Tetracyclines and Analogues Thereof.” Andrew G. Myers, Mark G. Charest, Christian D. Lerner, Jason D. Bruaker and Dionicio R. Siegel, U.S. Patent 8,598,148;

December 3, 2013 and U.S. Patent 9,365,493; June 14, 2016.

“Inhibitors of IAP.” Mark G. Palermo, Sushil K. Sharma, Christopher Straub, Run-Ming Wang, Leigh S. Zawel, Yanlin Zhang, Zhuoliang Chen, Yaping Wang, Fan Yang, Wojciech Wrona,

Gang Liu, Mark G. Charest and Feng He, U.S. Patent 8,338,440; December 25, 2012 and U.S. Patent 8,207,183; June 26, 2012.

“Pyrrolydine Derivatives as IAP Inhibitors.” Mark G. Charest, Christine Hiu-Ting Chen, Ming Chen, Miao Dai, Feng He, Huangshu Lei, Christopher Straub, Run-Ming Wang, and Leigh S.

Zawel, U.S. Patent 8,044,209; October 25, 2011.

“Synthesis of Tetracyclines and Analogues Thereof.” Andrew G. Myers, Mark G. Charest, Christian D. Lerner, Jason D. Bruaker and Dionicio R. Siegel, U.S. Patent 7,807,842; October

5, 2010.

“Organic Compounds.” Mark G. Palermo, Sushil K. Sharma, Christopher Straub, Run-Ming Wang, Leigh S. Zawel, Yanlin Zhang, Zhuoliang Chen, Yaping Wang, Fan Yang, Wojciech

Wrona, Gang Liu, Mark G. Charest and Feng He, U.S. Patent 7,419,975; September 2, 2008.

“Preparation of α-Hydroxy-γ-[[(carbocyclic- or heterocyclic-substituted)amino]carbonyl]-alkanamides as HIV Protease Inhibitors.” James R. Tata, Zhijian Lu, Subharekha Raghavan,

Tracy T. Huening, Thomas A. Rano and Mark G. Charest, U.S. Patent 6,589,962; July 8, 2003.

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For Financial Professional Use Only

LifeSci Partners Leadership

Andrew McDonald, Ph.D. I Founding PartnerAndrew co-founded LifeSci Partners in 2009 which has since grown to employ 100+ healthcare professionals offering a broad range of advisory

services to more than 150 corporate clients in the life sciences sector. As a scientist and former equity analyst, Andrew has a strong understanding

of transformative pharmaceutical products and also has a strong network across healthcare institutional investors and executives. Prior to LifeSci,

Andrew worked at Great Point Partners, a life sciences hedge fund, and headed healthcare research and was a publishing biotechnology analyst

at ThinkEquity Partners. Prior to entering the financial services industry, Andrew was a medicinal chemist at Cytokinetics and at Pfizer.

Mike Rice I Founding PartnerMichael Rice has experience in portfolio management, corporate management, investment banking and capital markets. Prior to co-founding

LifeSci Partners, Michael was the co-head of health care investment banking at Canaccord Adams, where he was involved in debt and equity

financing. Michael was also was a Managing Director at ThinkEquity Partners where he was responsible for managing Healthcare Capital Markets,

which included structuring and executing numerous transactions, many of which were firsts at ThinkEquity. Prior to that, Michael served as a

Managing Director at Banc of America serving large hedge funds and private equity healthcare funds.

6

For Financial Professional Use Only

LifeSci Partners

Who We Are

LifeSci Partners is the leading provider of strategic

scientific consulting services in the areas of investor

relations, public relations, corporate communications,

executive search and capital markets advisory.

Combining deep domain expertise in the life sciences

with decades of experience in capital markets and

corporate communications, LifeSci Partners delivers

unparalleled services to life sciences companies globally.

With global presences in New York, Chicago, Boston,

London, Geneva, Paris, Asia and Tel-Aviv, LifeSci

Advisors leverages its relationships and local knowledge

in multiple territories around the world to provide high

value services for clients.

LifeSci

Advisors

LifeSci

Public Relations

LifeSci

Capital

LifeSci

Venture

LifeSci

Search

LifeSci

Partnering & Analytics

6

For Financial Professional Use Only 8

LifeSci Partners Operating Companies

Built on deep domain expertise in the life sciences

LifeSci Advisors

Comprehensive investor

relations, customized

marketing communications,

and strategic counsel

LifeSci Public Relations

Expert public and media

relations support and

strategic corporate

communications counsel

LifeSci Search

Global executive

recruitment specializing in

C-Suite and board

placements for the

healthcare industry

LifeSci Capital

(member FINRA/SIPC):

Investment banking services

including equity and debt

issuance

LifeSci Venture Partners

LifeSci Venture Partners I

launched in 2017 and co-

investment vehicles have

deployed $35mm into 12

companies

BioShares ETFs

Leading biotechnology

exchange traded funds

(NYSE: BBC & BBP)

+Newly created, independent

division led by Mark

Charest, Ph.D. to manage

the fund. Compliance

program to be implemented

for conflict management.

LifeSci Fund Management

For Financial Professional Use Only

LifeSci Capital Research Team

Highlights

11 Person Research Team

Deep Scientific Knowledge

with 4 Ph.D.’s on research

team, 20+ across LifeSci

Partners

Domain Expertise in key thematic healthcare areas

including: Oncology/Hematology/Infectious

Disease/Neurodegenerative diseases/ Autoimmune

disorders/Endocrinology/Genetic & Rare

diseases/Gastroenterology/Ophthalmology

Surveys & Statistical Analysis

Understanding key healthcare market dynamics

Primary sourcing for physician/patient dynamics

Events

Host KOL dinners at every major medical conference

Live webcasted KOL calls and corporate access events

Research Publications

540 publications in 2018 with 95 companies under

coverage

Alpha series- deep fundamental research on high

conviction companies in the healthcare space which

includes multiple conversations with leading KOL experts

9

For Financial Professional Use Only

Healthcare Sector Overview

For Financial Professional Use Only

Fund Strategy Driven by Proprietary Primary Research

Healthcare Company

Universe>500 companies with

aggregate market

capitalization >$1 trillion

Universe Mapping

Systematically screen

corporate universe using

proprietary fundamental

scientific and financial analysis

Thematic Areas of FocusSector diligence and

KOLs input to identify

highly innovative

thematic areas of interest

Thesis Driven Stock SelectionComprehensive fundamental

analysis using proprietary

diligence methodology

Portfolio Construction

Thesis-driven price targets for entry

and exit points. Relative risk / reward

analysis determines position size and

subsector exposure

Ongoing Diligence

Regular contact with

management teams and KOL

community to validate ideas

Portfolio Management

Systematic monitoring of

market action against price and

exposure targets

11

For Financial Professional Use Only

Representative Investments

12

*Source: Deloitte 2019 Healthcare Outlook

Lead or participant in transformative financing to unlock latent value (Recap, PIPE, IPO, etc.)

For Financial Professional Use Only

Constructive Regulatory Environment

FDA Approvals*

*Source: FDA Novel Drugs Summary 2018

**Source: 2018 CDER Update for Rare Diseases (Note: Expedited development timeline typically <6 years vs 10+ for traditional programs)

Expedited ProgramsBreakthrough

N = 30

Fast Track

N = 105

Priority

N = 146

Accelerated

Approval N = 34

Rare (N = 113) 19% 55% 77% 27%

Oncology 28% 58% 84% 48%

Non-Oncology 13% 52% 71% 11%

Non-Rare (N = 195) 4% 22% 30% 2%

Oncology 11% 42% 68% 11%

Non-Oncology 3% 20% 26% 1%

Expedited Clinical Development ProgramsCDER NME approvals 2008 - 2016

1824 26

21

30

39

27

4145

22

46

59

35 34 36

23

41 4136

4135

41

57

43

0

10

20

30

40

50

60

70

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

NME/BLA Approvals NME/BLA Filings

CDER New Molecular Entity (NME) and New Biologic License

Application (BLA) Filings and Approvals

• Steady stream of applications with some variation on approval rate

• Targeted therapies have grown from 5% of approvals in 1990s to >45% in recent years

• Programs implemented to expedite development/approval and provide additional incentives in areas of high unmet need**

− Breakthrough Therapy Designation, Priority Review, Accelerated Approval, Priority Review Voucher, etc.

13

For Financial Professional Use Only

Significant Increase in FDA Approval Rates

FDA Continues to improve regulatory process

*Source: FDA Novel Drugs Summary 2018

**Source: 2018 CDER Update for Rare Diseases (Note: Expedited development timeline typically <6 years vs 10+ for traditional programs)

14

Pre-1992

1992-2007

2007-2012

2012+

For Financial Professional Use Only

Ongoing M&A Demand

*Source: MergerMarket Pharma, Medical and Biotech Trend report 2016

Ongoing M&A demand*

>$1.9 trillion in aggregate healthcare M&A from

financial crisis through 2016

Biopharmaceutical deal count increasing since

financial crisis

Median deal value >$500M

15

For Financial Professional Use Only

High standard deviation of returns in biopharma provides opportunity

*Source: LifeSci VC Biotech IPOs: Outliers, Value Creation, and the Dispersion of Returns. Dispersion analysis from 2014 with all companies with Mcap >$200M. IPOs include n=159 companies trading through the end of 2016 that had not been

acquired or shutdown.

22% 24% 27% 29% 31%37% 37% 39% 40%

55%

32% 32%

56%61% 62%

91%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Biopharmaceutical return dispersions*Biopharma had the highest return dispersions of any sector in 2014

Trend holds for the decade 2005-2014 as well

By Sector* First Year IPO’s Only **

Dispersion Comparison By Industry and for Recent IPOsAverage Standard Deviation of 12-Month Returns

16

For Financial Professional Use Only

Executive Summary

Fund

• AlphaCentric LifeSci Heathcare Fund invests in healthcare securities

• May invest in IPOs and mezzanine financing offerings

• Fund's objective is to provide long-term capital appreciation through fundamental, thesis-driven investments

Team• Portfolio Manager Mark G. Charest, Ph.D. has more than a decade of institutional healthcare investing experience

• More than a decade of collaboration experience working with LifeSci Partners

Global Platform

• Since 2009, LifeSci Partners has been a leading provider of strategic scientific consulting services in the areas of investor

relations, public relations, corporate communications, executive search, and capital markets advisory

• Experienced 100+ investment and science professionals including 20+ Ph.D.s and MDs in New York City, Boston, Philadelphia,

London, Geneva, Paris and Tel Aviv.

Access• LifeSci Partners reach across all areas of healthcare industry brings unique insights and capabilities

• LifeSci’s 12-person research team, scientific advisory board, and KOL network

Strategy• Proprietary primary research is utilized to select companies believed to have significant growth potential

• Science-driven biotechnology and pharmaceutical companies addressing high unmet medical needs are emphasized

17

For Financial Professional Use Only

IMPORTANT RISK CONSIDERATIONS Investors should carefully consider the investment objectives, risks, charges and expenses of the AlphaCentric Funds. This and other important information about the

Fund is contained in the prospectus, which can be obtained by calling 844-ACFUNDS (844-223-8637) or at www.AlphaCentricFunds.com. The prospectus should be

read carefully before investing. The AlphaCentric Funds are distributed by Northern Lights Distributors, LLC, member FINRAISIPC. AlphaCentric Advisors LLC is not

affiliated with Northern Lights Distributors, LLC.

This presentation is prepared for internal communications only and shall not constitute an offer to sell or the solicitation of any offer to buy which may only be made at

the time registration statement is filed. These securities shall not be offered or sold in any jurisdiction in which such offer, solicitation or sale would be unlawful until the

requirements of the laws of such jurisdiction have been satisfied. While all the information prepared in this presentation is believed to be accurate, LifeSci Partners

(collectively all LifeSci branded entities such as LifeSci Advisors, LLC, LifeSci Capital, LLC, etc.) and/or Phenomic Capital LLC (Phenomic) make no express warranty as

to the completeness or accuracy nor can they accept responsibility for errors appearing in this presentation. Any projections, outlooks or assumptions should not be

construed to be indicative of the actual events which will occur. This presentation is not intended for public use or distribution. Phenomic and LifeSci Partners are

furnishing this presentation on a confidential basis. These materials may not be reproduced, either whole or in part, nor may the contents be disclosed to any third party.

The information provided herein, including, without limitation, investment strategies, investment restrictions and parameters, may be modified, terminated or

supplemented at any time without further notice in a manner which LifeSci Partners and/or Phenomic believe is consistent with its overall investment objective.

The Fund is a new mutual fund and has a limited history of operations for investors to evaluate. The fund may be non-diversified and the value and/or volatility of a single

issuer could have a greater impact on fund performance. The Fund may be susceptible to an increased risk of loss due to adverse occurrences affecting the Fund more

than the market as a whole, because the Funds investments are concentrated. Some securities held by the Fund may be difficult to sell, or illiquid, particularly during

times of market turmoil. The Funds' can invest in smaller-sized companies which may experience higher failure rates than larger companies and normally have a lower

trading volume than larger companies. The funds' can have risk associated with the biotechnology and pharmaceutical industry in which these companies may be

heavily dependent on clinical trials with uncertain outcomes and decisions by the U.S. Food and Drug Administration. Companies in the technology industries have

different risks including, but not limited to, products becoming obsolete, and entrance of competing products. Further, these companies are dependent on patent

protection, and the expiration of patents may adversely affect the profitability of the companies. The Fund invests in IPOs at the time of the initial public offering and in

post-IPO trading. IPOs are often subject to extreme price volatility and speculative trading. The ETFs in which the fund invests are subject to advisory fees and other

expenses and as a result the cost of investing in the fund will be higher than the cost of investing directly in the underlying funds. The Funds can have risk related to

option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets,

political instability and differing auditing and legal standards. All investments involve risks, including possible loss of principal, there is no assurance that the Fund will

achieve its investment objective

7321-NLD-12/5/2019

18