Kondor Fund SPC - Falkon

Equities Segregated Portfolio

Fund Investment Objectives

The primary investment objective of the Falkon Equities Segregated Portfolio is to achieve long term capital appreciation. The Falkon Equities Segregated Portfolio invests in a wide variety of equities of publicly traded companies, primarily in local equities and international instruments related to the Brazilian securities markets. The Company's strategy includes stock picking, long and short and derivatives.