SRFLP = Stornoway Recovery Fund LP, returns are net of all fees, expenses and Manager's profit participation.

TSX TR = S&P/TSX Composite Total Return Index.

The market index data presented above has been selected for purposes of comparing the performance of the Fund with a widely-known index that the Manager believes is relevant to the investment mandate of the Fund and capital markets in general. For further information, please see "Use of Comparable Indices".

Past performance is no guarantee of future results