MKP Credit

Fund Ltd.

Fund Investment Objectives

The investment objective of the MKP Credit Offshore, Ltd. Fund is to achieve absolute returns on capital with low return volatility. The Fund invests in credit-sensitive securities primarily within the universe of structured fixed income securities, which are backed by pools of residential mortgages, consumer loans, commercial mortgages or other types of loans and receivables. The Fund allocates its capital dynamically among a range of markets, strategies and instruments as opportunities arise. This best ideas approach allows for consistent evaluation of investment and trading opportunities across various markets, so as to capture those opportunities that offer the most attractive risk-return profiles. Payout: 95% of investment paid within 5-7 days of month end with the balance settled within 30 days.