HG Vora Special

Opportunities Fund LP

Fund Investment Objectives

HG Vora Capital is an investment firm focused on event driven and value oriented strategies. The HG Vora Special Opportunities Fund's investment objective is to achieve positive absolute returns regardless of economic environment by investing in actively traded equity securities, debt securities and/or loans issued by businesses primarily in sectors which include gaming, lodging, leisure, real estate, consumer, retail and other related or correlated sectors (the "Core Sectors"). The Fund makes use of its investment team, industry knowledge and relationships to identify event-driven and value-oriented investments within the Core Sectors. The businesses in which the Fund often invests may have leveraged balance sheets, operational difficulties and/or be involved in restructuring. The Fund's primary focus is on North American securities and other instruments, but may include Europe, Asia and other non-U.S. markets. The Fund opportunistically invests on both a long and short basis and may engage in certain hedging strategies.