Fund, Ltd.

Fund Investment Objectives

The Fund invests primarily, but not exclusively, in the publicly traded or privately traded securities of DEVA Holding A.S. (DEVA) and other issuers in pharmaceutical sector in Turkey and in other emerging markets. The Fund may include other private investment funds and accounts managed by the Manager that will invest through the Master Account, as well as parallel investment entities which will invest proportionately in all portfolio investments of the Master Account on the same terms and conditions as the Master Account, subject to applicable legal, tax and regulatory considerations. The PharmaInvest Fund LP and PharmaInvest Fund Ltd. run parallel.