RORS

Appreciation Fund L.P.

Fund Investment Objectives

RORS Appreciation Fund LP is a primarily quantitative, long-focus fund. Our valuation model combines fundamental valuation, credit and risk parameters to identify investment opportunities. Frequent model runs provide analysis of our research universe (companies traded on US stock exchanges passing a market capitalization threshold) and identify our target of the top 1% to 2% most attractive values. Analysis of market conditions provide additional input towards timing for allocation of positions.