FUND FACTS SUMMARY STATISTICS Price Per Share $1,157.83 Assets $165.17 million Minimum Investment $100,000 Liquid/Dealing Daily Investment Management Fee - Class A 0.70% Inception Date May 1, 2015 Fund Index 1 Price to Earnings Ratio 19.59 23.08 Price to Book Ratio 2.05 2.59 Beta 1.20 1.00 Free Cash Flow Yield 6.96% 4.20% Dividend Yield 2.14% 1.97% PERFORMANCE 2 SECTOR ALLOCATION TOP 10 HOLDINGS Fund 3 Index 1,3 Cash & Futures 5.3% 0.4% Consumer Discretionary 12.1% 11.9% Consumer Staples 8.1% 7.7% Energy 4.9% 6.0% Financials 18.7% 22.4% Health Care 15.4% 12.6% Industrials 14.5% 10.6% Information Technology 19.4% 19.6% Materials 0.0% 3.1% Telecom & Utilities 1.5% 5.7% Total 100.0% 100.0% Security Name Fund 3 PERFORMA LIQUID ASSETS FUND (USD) - CLASS A 3.0% VERIFONE SYSTEMS ORD 2.4% BANK OF AMERICA ORD 2.3% CVS HEALTH ORD 2.3% CISCO SYSTEMS ORD 2.1% PFIZER ORD 2.0% AERCAP HOLDINGS ORD 2.0% ABBVIE ORD 1.9% ORACLE ORD 1.9% WALT DISNEY ORD 1.9% Total 21.8% 1 The above referenced index is a strategy weighted blend of the SPDR S&P 500 ETF® and the iShares Russell 2000 Value® Index. 2 During the initial investment period, May 1 through May 4, 2015, the benchmark for the Performa Equity Fund is comprised of 100% cash, as represented by the BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index. Effective May 5, 2015, the U.S. Equity Blended Broad Market Index is comprised of the daily dollar weighted allocation to the stated benchmark for each sub-strategy. The benchmark for the U.S. Core Equity Strategy is the S&P 500® Total Return Index. The Index for the Small Cap Equity Strategy was the Russell 2000® Index from May 5, 2015 through August 31, 2016, and the Russell 2000 Value® Index thereafter. Periods of 1 or more years have been annualized. Gross & net returns include the deduction of trading expenses and reinvestment of income and dividends. Gross returns do not re lect the deduction of investment management, administrative fees or other fund expenses. Net returns are reduced by sub-advisor investment management fees, administrative fees and other fund expenses.3 May not sum due to rounding. This Fact Sheet does not constitute an offer or solicitation to invest in this Fund. Subscriptions are only valid if made on the basis of the current prospectus or offering memorandum of the Fund. Past performance is not necessarily indicative of future performance. Additionally, there is the possibility for loss as well as pro it when investing in this Fund. Share prices luctuate and are not guaranteed. While we have endeavored to ensure the accuracy of the information herein, such information is not guaranteed as to accuracy or completeness. P.R.P. Performa Ltd. is licensed to conduct investment business by the Bermuda Monetary Authority. The information provided herein represents the Performa Equity Fund, a Bermuda-registered mutual fund. Performa can provide alternative investment options that would allow US investors to access a strategy that is similar to the Fund presented above. www.PerformaLtd.com STRATEGY: U.S. CORE AND SMALL CAP VALUE The Fund seeks to outperform the broad U.S. equity market over market cycles using a multi-manager, active management approach. The Fund currently employs two strategies: a value tilted U.S. Core Large Cap Equity (US Core) mandate managed by Blue Granite Capital and a Small Cap Value strategy managed by Pzena Investment Management (Small Cap). The Fund may add additional managers and U.S. focused equity strategies in the future. The Fund's benchmark is a blended, weighted combination of each sub-advisory portfolio's index. Currently, the US Core sub-strategy is measured against the S&P 500® Index and the Small Cap sub-strategy is measured against the Russell 2000® Value Index. Performa Limited (US), LLC acts as the manager of the Fund. Blue Granite the Small Cap Capital (a wholly owned subsidiary of Performa Limited (US), LLC) and Pzena Investment Management act as the Fund's sub-advisors. Performa Equity Fund - Class A (USD) As of June 30, 2017

PERFORMANCE Performa Equity Fund - Class A (USD) As of ...Telecom & Utilities 1.5% 5.7% Total 100.0% 100.0% S ecurity Name Fund 3 ... ABBVIE ORD 1.9% ORACLE ORD 1.9% WALT DISNEY ORD

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Page 1: PERFORMANCE Performa Equity Fund - Class A (USD) As of ...Telecom & Utilities 1.5% 5.7% Total 100.0% 100.0% S ecurity Name Fund 3 ... ABBVIE ORD 1.9% ORACLE ORD 1.9% WALT DISNEY ORD

FUND FACTS SUMMARY STATISTICSPricePerShare $1,157.83

Assets $165.17million

MinimumInvestment $100,000

Liquid/Dealing Daily

InvestmentManagementFee-ClassA 0.70%

InceptionDate May1,2015

Fund Index1

PricetoEarningsRatio 19.59 23.08

PricetoBookRatio 2.05 2.59

Beta 1.20 1.00

FreeCashFlowYield 6.96% 4.20%

DividendYield 2.14% 1.97%

PERFORMANCE 2

SECTOR ALLOCATION TOP 10 HOLDINGSFund3 Index1,3

Cash&Futures 5.3% 0.4%

ConsumerDiscretionary 12.1% 11.9%

ConsumerStaples 8.1% 7.7%

Energy 4.9% 6.0%

Financials 18.7% 22.4%

HealthCare 15.4% 12.6%

Industrials 14.5% 10.6%

InformationTechnology 19.4% 19.6%

Materials 0.0% 3.1%

Telecom&Utilities 1.5% 5.7%

Total 100.0% 100.0%

SecurityName Fund3

PERFORMALIQUIDASSETSFUND(USD)-CLASSA 3.0%

VERIFONESYSTEMSORD 2.4%

BANKOFAMERICAORD 2.3%

CVSHEALTHORD 2.3%

CISCOSYSTEMSORD 2.1%

PFIZERORD 2.0%

AERCAPHOLDINGSORD 2.0%

ABBVIEORD 1.9%

ORACLEORD 1.9%

WALTDISNEYORD 1.9%

Total 21.8%1TheabovereferencedindexisastrategyweightedblendoftheSPDRS&P500ETF®andtheiSharesRussell2000Value®Index.2Duringtheinitialinvestmentperiod,May1through May 4, 2015, the benchmark for the Performa Equity Fund is comprised of 100% cash, as represented by the BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index. Effective May 5, 2015, the U.S. Equity Blended Broad Market Index is comprised of the daily dollar weighted allocation to the stated benchmark for each sub-strategy. The benchmark for the U.S. Core Equity Strategy is the S&P 500® Total Return Index. The Index for the Small Cap Equity Strategy was the Russell 2000® Index from May 5, 2015 through August 31, 2016, and the Russell 2000 Value® Index thereafter. Periods of 1 or more years have been annualized. Gross & net returns include the deduction of trading expenses and reinvestment of income and dividends. Gross returns do not re lect the deduction of investment management, administrative fees or other fund expenses. Net returns are reduced by sub-advisor investment management fees, administrative fees and other fund expenses.3 May not sum due to rounding.

ThisFactSheetdoesnotconstituteanofferorsolicitationtoinvestinthisFund.Subscriptionsareonlyvalidifmadeonthebasisofthecurrentprospectusorofferingmemorandum oftheFund.Pastperformanceisnotnecessarilyindicativeoffutureperformance.Additionally,thereisthepossibilityforlossaswellasproitwheninvestinginthisFund.Shareprices luctuateandarenotguaranteed.Whilewehaveendeavoredtoensuretheaccuracyoftheinformationherein,suchinformationisnotguaranteedastoaccuracyorcompleteness.P.R.P. Performa Ltd. is licensed to conduct investment business by the Bermuda Monetary Authority. The information provided herein represents the Performa Equity Fund, aBermuda-registeredmutualfund.PerformacanprovidealternativeinvestmentoptionsthatwouldallowUSinvestorstoaccessastrategythatissimilartotheFundpresentedabove.

www.PerformaLtd.com

STRATEGY: U.S. CORE AND SMALL CAP VALUETheFundseekstooutperformthebroadU.S.equitymarketovermarketcyclesusingamulti-manager,activemanagementapproach.TheFundcurrentlyemploystwostrategies:avaluetiltedU.S.CoreLargeCapEquity(USCore)mandatemanagedbyBlueGraniteCapitalandaSmallCapValuestrategymanagedbyPzenaInvestmentManagement (SmallCap).TheFundmayaddadditionalmanagersandU.S. focusedequitystrategies in the future.TheFund'sbenchmark isablended,weightedcombinationofeachsub-advisoryportfolio'sindex.Currently,theUSCoresub-strategyismeasuredagainsttheS&P500®IndexandtheSmallCapsub-strategyismeasuredagainsttheRussell2000®ValueIndex.PerformaLimited(US),LLCactsasthemanageroftheFund.BlueGranitetheSmallCapCapital(awhollyownedsubsidiaryofPerformaLimited(US),LLC)andPzenaInvestmentManagementactastheFund'ssub-advisors.

Performa Equity Fund - Class A (USD)As of June 30, 2017