Perceptive Life Sciences

Offshore Fund Ltd.

Fund Investment Objectives

The Fund invests in and trades, both long and short, primarily in the securities of U.S. firms in or related to the biotechnology industry such as publicly traded common stocks, stock warrants and rights, preferred stocks, bonds, convertible securities, and options to buy and sell securities and the writing of such options. AUM reflects the aggregate of the various share classes and is reported in USD.