EFTA01386273.pdf

AGP LP 519 Alpha Group Capital Paul Barrett Strong Performance, Long and Short Portfolios, AGS vs. Equity Indices January 2001 to September 2017 Strong excess return on both the long and short portfolio AGS Net Cumulative 400% Return 360.2% AGS has provided Double Alpha 370% - 340% • Long portfolio gross cumulative 310% return has exceeded the MSCI World AGS long Gross CurniAotive Return index by 177.6 percentage points* 241.4% 250% • Short portfolio gross cumulative return has exceeded the MSCI World 190% index by 91.6 percentage points" 160% 130% MSCI AC World MSCI World 100% Cumulative Return Cumulative Return AGS Short Gross 63.8% 67.8% 70% Cumulative Return 27.8% 40% - 10% - Source: Index pertormance information is from Bloomberg. AGS long and short portfolio gross returns (daily compounding) calculated on the dally opening balance of the long and short gross values respectively. Index returns have been included to show the general trend in certain morkets for the period noted. The inclusion of any Index does not imply that the AGS is comparable to any index in composition or element of risk. The MSCI World and MSCI AC World frock the performance of the equity securities of a representative sample of over 4.000 companies from developed and emerging mcrkets worldwide. Post performance is not indcative of future returns. Total AGS net cumulative returns is calculated on the doily closing of balance of the portfolio NAV, net of management and incentive fees. • Cumulative long return minus MSCI World cumulative return; cumulative short return plus MSCI World cumulative return. For complete dsclaimer. please see last pages of presentation. Source: Morgan Stanley (Morgan Stanley performance attribution data is available after January 2001). " Comparison of Alkecn's short portfolio vs. shorting the MSCI World Index over the same period of lime. Private & Page 11 ALKEON CAPITAL MANAGEMENT Confidential CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0087893 CONFIDENTIAL SDNY_GM_00234077 EFTA01386273