Who We Are

First of all, thank you for taking the time to listen to us. We are enthusiastic about what we’re doing at
JEI Investment Management and we’re always eager to share our story. The three key things we want
you to take from this presentation are that we are Trustworthy, we are Unique and we are Proven.

We believe that trustworthiness is the most important building block of solid investment management.
Our trustworthiness reflects our Founder Mr. Ireland’s experience, which includes over 10 years of
direct equity investment experience, several years of experience around the investment business, and
several years of experience implementing our methodology. He has augmented his experience through
participation in the CFA Program, which has deepened his understanding of investment theory and
industry best practices. Finally, we believe Mr. Ireland has a naturally trustworthy personality because
he is honest, patient, disciplined, composed, and has a strong focus on ethical conduct. These qualities
augment the sustainability of the portfolios that we manage and form the core elements of the culture
we are building at JEI Investment Management.

We take great pride in the steps we have taken to build our trustworthiness. These steps include
adhering to the CFA Asset Manager Code of Conduct and the Better Business Bureau Standards of
Accreditation to make sure that we follow industry best practices. We have also developed an extensive
compliance manual to make sure we follow the law carefully and maintain sound risk management.
Finally, on a Fund-level, we take several steps to align our interests with our investors to help us avoid
conflicts of interest. We do this by maintaining maximum “skin in the game” by being investors in our
funds ourselves, by composing our fee structures based on AUM-fees only to properly align our interest
towards superior long-term returns, by utilizing the highest quality of service providers to ensure that
our investors have a smooth experience in our funds, and by avoiding any “funny business” such as
leverage, trading on margin and illiquid securities, to minimize our investors likelihoods of missing out
on long-term returns by running out of money in the short-term.

We have crafted our unique investment methodology to provide our investors something different.
This methodology begins with what we call “Answering the Big Questions.” These are the questions
that we think every investor should ask themselves when thinking about what to do with their money.
The first “Big Question” is “Why invest in the first place?” We believe that the purpose of investing is to
realize superior long-term returns; everything we do follows directly from this initial premise. In order to
help us identify attractive specific investments, we have developed a unique free cash flow growth at a
reasonable price methodology, based on our belief that the stocks of fundamentally undervalued
companies, i.e. those that combine healthy long-term business level production with cheap valuation,
are most likely to produce superior long-term returns. Finally, we focus on producing uniquely
“selective” portfolios, which combine maximum exposure to our best-of-the best ideas (to maximize
our portfolios’ returns) with maximum diversification (to maximize our portfolios’ sustainability).

Finally, we are still young, but we are proven. First and foremost, we have proven ourselves to be
trustworthy investment and business partners, given our complete lack of legal or regulatory issues
since inception and our A+ Better Business Bureau rating. We have also proven ourselves to be
providers of unique investment products, as our fund has maintained an active share against the S&P
500 consistently above 98%. Finally, although we have not been around long enough to have delivered
superior long-term returns to our clients yet, we are confident that we are on schedule to do so.