Northstar Commodity

Investment Co., LLC (TBE Capital)

Fund Investment Objectives

TBE's core trading activities are focused in the grain, livestock and energy markets. TBE Capital's investment strategy is fundamentally driven. It utilizes Northstar Commodity's proprietary research to identify market direction and capture profit opportunities. Northstar Commodity's focus is on core fundamental factors including, but not limited to, supply and demand, weather and geo-political events. Northstar Commodity also derives key fundamental information related to crop acreage, yield and cash basis information from its extensive client base of grain and livestock producers located throughout the United States. TBE Capital combines technical analysis with Northstar Commodity proprietary fundamental research to determine the timing and price targets for entry and exits of specific trades. All trades are 100% discretionary. The monthly performance for this program is net of a $50 month administrative fee. There are no management or incentive fees charged in this managed account program. Clients are charged a $30 fee per round turn.