Typhon Capital Management

(Plutus Grain)

Fund Investment Objectives

The PLUTUS GRAIN STRATEGY is a discretionary, diversified grain strategy designed to capture returns from the grain markets with a low correlation to traditional assets. This methodology prioritizes capital preservation and seeks to provide returns at a relatively low level of volatility when compared to most other grain strategies. YTD returns are calculated for capital invested from January 1 and do not reflect compounding. Plutus is managed primarily by Jerod Larry Leman. Mr. Leman was born and raised in a small farm community in Northern Indiana. He became involved in the markets in July 1989, helping his family farm distribute their grain. He enrolled in Purdue University in Lafayette, Indiana in August 1999 and graduated in May 2003 with a degree in Agriculture Economics. Upon graduation, Mr. Leman joined Overmeyer Commodities, a commodities brokerage firm in Lafayette, Indiana as an Account Executive. Then, in September 2003, Mr. Leman transitioned to a larger firm, Wellington Commodities in Carmel, Indiana. There, he has worked with farmers, commercial, and speculative clients, and co-developed the PGS. Also, while at Wellington, Jerod helped operate a direct-ship cash grain business, Starke Indy Direct, in Carmel, Indiana, where he has traded cash grain for an elevator. Then, in April 2012, Mr. Leman began working part-time with Silveus Financial, LLC, a crop insurance firm in Zionsville, Indiana, where he was a Branch Manager, and managed risk for farmers, helping from hedging to cash sales decisions. Mr. Leman brought Plutus and Tauros to Typhon in September 2010 and July 2011, respectively.