Stornoway Portfolio Management

Stornoway Portfolio Management Inc. is an employee-owned asset management firm located in Toronto, Canada. Stornoway's investment team conducts extensive fundamental analysis and will use their expertise, experience, and network to play an active role in restructuring and other value-enhancing initiatives on behalf of the funds they manage. ▪ Stornoway Recovery Fund The Stornoway Recovery Fund focuses on capturing value from the turnaround and recovery of financially distressed companies. The Fund seeks to generate long-term capital appreciation through investments in companies that are in various stages of revitalization. ▪ Ravensource Fund The Ravensource Fund is a closed-end investment fund that is listed on the Toronto Stock Exchange ("TSX") under the symbol RAV.UN. Ravensource seeks to achieve absolute annual returns through deep-value investments in high-yielding securities, distressed securities, and special situation equities. Stornoway's investment team, comprised of Scott Reid, Daniel Metrikin, and Brandon Moyse, are specialists in creating and protecting value in the securities of financially troubled companies. Stornoway conducts extensive fundamental analysis and due diligence prior to and during the time of investment. The Stornoway team will use their unique experience and expertise to play an active role in a corporate restructuring or other value-enhancing initiatives in order to protect the Fund's investments and generate returns.