Limited Partnership Funds

Note: Returns for the Forge First funds are based on the August 2012 Class F Lead Series and are net of all fees and expenses. In a year, up to 12 series can be created within a Class of units.

Disclaimer

This document is intended for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. This document is not, and under no circumstances is to be construed as an offering memorandum, prospectus, advertisement or public offering of the securities referred to herein. No securities commission or similar regulatory authority has passed on the merits of the securities described herein nor has it reviewed this document and any representation to the contrary is an offence.

The current year results are unaudited, net of all fees and expenses, and are based on our best estimates at the time of this report. All returns are in local currencies. Returns expressed in this commentary are “time-weighted” and are not the same as mandated “money-weighted” returns used in the production of client statements effective December 31, 2015.

The Forge First Limited Partnerships are currently open to Canadian investors who meet certain eligibility requirements. Please contact Forge First Asset Management Inc. to request the offering documents and to speak with a registered dealing representative. Past performance is not indicative of future results.