Legal and Important Information

The following Website terms of use (the “Terms”) govern the relationship between you and RP Investment Advisors LP (“RPIA”) and its affiliates and related entities (“we”, “our” or “us”) and governs your use of our website and its content (collectively, the “Website”).

By accessing the Website, you acknowledge these Terms and agree to be bound by them. If you do not agree to these Terms, you are not permitted to access the Website and must not access the Website. We reserve the right, in our sole discretion, to modify, alter or otherwise update these Terms at any time and you agree to review the Terms regularly, and your continued access or use of the Website will mean that you agree to any changes.

We may terminate, change, suspend or discontinue any aspect of the Website, including the availability of any feature, at any time. We may also impose limits on certain features or restrict your access to parts or all of the Website without notice or liability. We may terminate the authorization, rights and license given in these Terms and, upon such termination, you shall immediately destroy all information and materials obtained by you from the Website.

A. Electronic Information and Promotional Communications (Website and Email Content)

Content presented on this website, including audio/video recordings and content presented via third-party platforms, is intended for informational purposes only. This also includes email communications sent from RPIA or its representatives, which may contain, but not limited to, information about RPIA, its products, and services, or other informational or promotional content. The information does not provide financial, legal, accounting, tax, investment, or other advice and should not be acted or relied upon in that regard without seeking the appropriate professional advice. The information is drawn from sources believed to be reliable, but the accuracy or completeness of the information is not guaranteed, nor in providing it, does RPIA assume any responsibility or liability whatsoever. The information provided may be subject to change, and RPIA does not undertake any obligation to communicate revisions or updates to the information presented. Unless otherwise stated, the source for all information is RPIA.

The information presented does not form the basis of any offer or solicitation for the purchase or sale of securities. Products and services of RPIA are only available in jurisdictions where they may be lawfully offered and to investors who qualify under the applicable regulation. Products and services offered by RPIA, including investment funds and separately managed accounts, are subject to the terms of relevant agreements and/or fund offering documentation. Investment fund units may only be purchased through registered dealers.

“Forward-Looking statements” are based on RPIA’s views and opinions of current and possible future events pertaining to, but not limited to, financial markets, economic conditions, and world events and are subject to a number of mitigating factors. Economic and market conditions may change, which may materially impact actual future events and, as a result, RPIA’s views, the success of RPIA’s intended actions as well as its actual course of conduct.

RPIA managed funds and strategies carry the risk of financial loss. Performance is not guaranteed and past performance may not be repeated.

RPIA Investment Funds

As is a registered Investment Fund Manager under applicable Canadian securities legislation, RPIA manages private pooled funds and publicly offered mutual funds as described in this website. As applicable, units of these funds are distributed through registered investment dealers and mutual fund dealers. Units of applicable funds are also distributed by RPIA pursuant to its registration as an Exempt Market Dealer and subject to relevant prospectus exemptions contained in NI 45-106 .

1. Private Pooled Funds

Units of RP Debt Opportunities Fund Trust, RP Select Opportunities Fund, RP Fixed Income Plus Fund, RP Broad Corporate Bond Fund, and RP Broad Corporate Bond (BBB, Fossil Fuel Exclusion) Fund are offered to eligible Canadian investors pursuant to available prospectus exemption under National Instrument 45-106. RPIA-managed funds and strategies carry the risk of financial loss. Performance is not guaranteed, and past performance may not be repeated. The historical performance presented for each fund within this website represents its respective strategy-level returns.

RPIA Pooled Strategies

Information pertaining to RP Debt Opportunities, RP Select Opportunities, RP Fixed Income Plus, RP Broad Corporate Bond, and RP Broad Corporate Bond (BBB, Fossil Fuel Exclusion) investment strategies are presented for illustrative purposes. RPIA-managed investment strategies may be offered in Canada to eligible investors pursuant to applicable Canadian securities regulations and relevant investment management agreements and/or fund offering documents. Certain strategies may also utilize master-feeder fund structures, including ones domiciled outside of Canada. The characteristics and performance of strategies described herein may differ from the related investment funds or managed accounts offered.

Strategy Performance Presentations

The performance presented herein reflects the applicable strategy level returns since the strategy inception for RP Debt Opportunities, RP Select Opportunities, RP Fixed Income Plus, RP Broad Corporate Bond, and RP Broad Corporate Bond (BBB, Fossil Fuel Exclusion), respectively. Strategy-level returns are presented for illustrative purposes only, and actual returns may vary from one investor to the next in accordance with the terms of the governing documents of the relevant entities. The strategy returns presented may also differ from the returns of the classes of investment funds offered by RPIA. Unless indicated otherwise, all returns are presented as of the last calendar day of the stated month, in Canadian dollars and net of applicable fees and expenses, and returns presented for periods greater than one year are annualized, while returns for time periods of one year or less are cumulative figures and are not annualized.

The RP Debt Opportunities strategy derives its economic exposure and related returns for its entities via its master-feeder structure. RP Debt Opportunities strategy returns are based on composite returns of RP Debt Opportunities Fund LP Class A and RP Debt Opportunities Fund Ltd. Class A, from October 2009 to July 2011, and RP Debt Opportunities Fund Ltd. Class A from August 2011 onwards.

The RP Select Opportunities strategy derives its economic exposure and related returns for its entities via its master-feeder structure. RP Select Opportunities strategy returns presented is a hypothetical illustration based on the weighted-average composite return of a separately managed account utilizing a similar strategy from inception in April 2014 to May 2014, and then linked to the returns of RP Select Opportunities Cayman Fund Ltd. Class C Lead thereafter.

RP Fixed Income Plus strategy returns are based on the weighted-average composite return of separately managed accounts utilizing a similar strategy from inception in July 2010 to April 2013 and linked to the returns of the RP Fixed Income Plus Fund Class A thereafter.

The RP Broad Corporate Bond strategy returns are based on the historical returns of RP Broad Corporate Bond Fund, Class A1.

2. Mutual Funds

Units of RP Strategic Income Plus Fund and RP Alternative Global Bond Fund are offered pursuant to a simplified prospectus in all Canadian jurisdictions. RP Alternative Global Bond Fund meets the regulatory definition of an Alternative Mutual Fund and may also be referred to as a “liquid alternative” or “liquid alt” fund.

Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Mutual Fund Performance

Indicated rates of return include changes in share or unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security-holder that would have reduced returns. Returns for time periods of more than one year are historical annual compounded total returns while returns for time periods of one year or less are cumulative figures and are not annualized. Class F units of the indicated fund do not include embedded sales commissions, which results in higher performance relative to Class A units of the fund. Performance data is calculated and presented in accordance with NI 81-102.

Mutual Fund Financial Statements

For the year ended December 31, 2023, fees paid or payable to Deloitte LLP, KPMG, and its network firms for the audit of the financial statements of Canadian reporting issuer funds within RP Strategic Income Plus Fund and Alternative Global Bond Fund were $124,979. Fees for other services were $70,824.

Additional Fund and Strategy Information

RPIA private pooled fund offerings have objectives, strategies, risks, and constraints that could differ significantly from the mutual funds managed by RPIA. Private pooled funds also operate under different a regulatory framework to publicly offered mutual funds. Information and data presented for private pooled funds are for informational purposes only and must not be viewed as being representative of the characteristics, risk, and performance of RP Strategic Income Plus Fund or RP Alternative Global Bond Fund.

“Return Objectives” and “Target Returns” represent RPIA’s annualized investment return objective for each applicable strategy or fund, does not imply actual future performance, and may be revised at the discretion of RPIA and without prior notice. “Liquidity” refers to the purchase and redemption frequency of units of applicable investment funds offered in Canada. Trade examples are presented for illustrative purposes and do not necessarily reflect a trade or current holding in any particular RPIA strategy or fund. Information pertaining to securities should not be considered a recommendation to buy or sell a particular security. Specific securities including trade examples noted are for illustrative purposes only and do not necessarily reflect a trade, historical or current holding in any particular RPIA strategy or fund. Strategies or funds may purchase and sell securities at any time and securities held may increase or decrease in value after the date presented. Growth charts are used to illustrate the effects of a compound growth rate and are not intended to reflect future values of any RPIA fund or strategy. Portfolio characteristics presented, including risk measures and/or holdings-based data reflect that of the indicated RPIA fund or strategy. The payment of distributions is not guaranteed, may fluctuate, and does not infer performance, rate of return, or internal yield of the Fund. Portfolio yield is a forward-looking measure of the expected annualized interest the portfolio would receive with respect to the current holdings and should not be viewed as a representation of actual returns.

The index performance comparisons presented are intended to illustrate the historical performance of the indicated fund or strategy compared with that of a specified market index or blend of indices over the indicated time period. The comparison is for illustrative purposes only and does not imply future performance. There are various differences between an index and an investment strategy or fund that could affect the performance and risk characteristics of each. Market indices are not directly investable and index performance does not account for fees, expenses, and taxes that might be applicable to an investment strategy or fund.

RPIA is a signatory of the UN Principles for Responsible Investment and as part of our commitment, we consider Environmental, Social & Governance (“ESG”) factors as part of our firm-level activities, including our investment process. ESG factors are important considerations in our investment management process but is supplemental to our primary financial and credit research and analysis functions.

ESG factors that may be considered as part of our investment process include matters relating to climate change, energy use, energy efficiency, emissions, waste, pollution, matters related to human rights, impact on local communities, labour practices, employee working conditions, health and safety of the employees and affiliates, employee relations and diversity, executive compensation, bribery and corruption, board independence, board composition and diversity, alignment of interest between the shareholders and the executives, shareholder rights, and companies’ policies relating to ESG.

ESG integration, including components relating to issuer engagement, is a firm-wide investment approach but the weight and importance of it in our investment management process can vary across the investment funds we manage. Always refer to the relevant fund offering documents for important information on the investment objectives, strategies and associated risks of a particular fund. The consideration and implementation of ESG factors are also subject to RPIA’s internal investment and risk management policies and may be revised as a result of investment suitability requirements, current portfolio positioning and external market and economic factors.

The consideration of ESG factors in the investment process for RP Strategic Income Plus Fund, RP Alternative Global Bond Fund and RP Target 2026 Discount Bond Fund is weighted less than the core financial and credit analysis employed in the management of these funds. Please see the simplified prospectus for additional information.

B. Dealer Use Materials

Information presented for use by dealers only is intended solely for registered investment dealers and mutual fund dealers. This information is considered confidential and may only be accessed by representatives of such dealer firms. This website implements access controls as a means to validate that the information is only accessed by appropriate dealer representatives.

C. Non-Canadian Investors

The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the RPIA funds or strategies referred to in this website may be lawfully in their jurisdiction.

D. Third-Party Sites

Websites accessed by hyperlink appearing from the Website are for convenience only and are to be used at your own risk. No endorsement of any third-party products, services or information is expressed or implied by any information, material or content referred to or included on, or linked from or to this Website. We do not review or control, and are not responsible for, any websites linked from or linking to the Website, the content of those websites, the privacy practices or security standards of those websites, the third parties named therein, or their products or services.

E. Trademarks and Copyrights

Certain names, words, titles, phrases, logos, icons, graphics or designs in the pages of the Website may constitute trade names, registered or unregistered trademarks or service marks (“trademarks”) of RPIA or other third parties.

All information in the Website is protected under the copyright laws of Canada and/or other countries. Users of the Website shall be entitled to a single copy of any information for their own personal use but may not republish or reproduce any such information in any manner, including electronic reproduction by “uploading” or “downloading” or “mirroring”, without the prior written consent of RPIA. Except as provided above, no one has permission to copy, display, distribute, download, license, modify, publish, repost, reproduce, reuse, sell, republish, use to create derivative work or otherwise use for public or commercial purposes in any form, any information found on the Website. Any unauthorized downloading, re-transmission, or other copying or modification of trademarks or other contents of the Website may be a violation of statutory or common law rights which could subject the violator to legal action.

Trademarks that are not the property of RPIA remain the property of each respective owners and are used for illustrative purposes only.

F. Use of this Website

The following Website terms of use (the “Terms”) govern the relationship between you and RPIA and its affiliates and related entities (“we”, “our” or “us”) and governs your use of our website and its content (collectively, the “Website”).

We are not responsible in any manner for any damages, losses or expenses (including direct, indirect, special, consequential, incidental or punitive damages), however caused, arising directly or indirectly out of your use of the Website and/or any web browser or your inability to use the Website, or any error, omission, interruption, defect, delay, computer virus, malware or any other form or cyberattack, system failure, loss of data or otherwise, including any damages you may suffer if you transmit confidential or sensitive information to us or if we communicate such information to you at your request over the Internet, even if we or our representatives are advised of the possibility of such damages, losses or expenses. To the extent permitted by applicable law, you agree to indemnify us against any and all liability resulting from any claims arising in relation to your use of the Website.

The Website is provided on an “as is” basis and we do not make any express or implied representations, warranties, endorsements or conditions with respect to the Website or any of its contents, including without limitation, any warranties or conditions as to merchantability, operation, non-infringement, usefulness, completeness, accuracy, currency, reliability and fitness for a particular purpose. Further, we do not represent or warrant that the Website will be available and meet your requirements, that access will be uninterrupted, that there will be no delays, difficulties in use, defects, incompatibility, failures, errors, omissions or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system. Any implied warranties, statutory or otherwise, on any such matters are hereby expressly excluded to the full extent permitted by applicable law. In accessing the Website you have sole responsibility for taking protection and backup of data and/or equipment and for taking reasonable and appropriate precautions to scan for computer viruses or other destructive properties.

The Website is administered by RPIA from its offices in Canada. Except where prohibited by the laws of your jurisdiction, the Website will be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to the principles of conflicts of law, and notwithstanding your domicile, residence or physical location. All disputes, controversies or claims arising out of or in connection with the Website or the Terms shall be submitted to and be subject to the exclusive jurisdiction of the courts of the Province of Ontario. You submit and attorn to the exclusive jurisdiction of the courts of the Province of Ontario to finally adjudicate or determine any suit, action or proceeding arising out of or in connection with the Website or the Terms.

If any provision of these Terms is found by a court of competent jurisdiction to be invalid, the parties agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of the Terms remain in full force and effect.

Any failure by us to exercise or enforce any right or provision of the Terms shall not constitute a waiver of such right or provision. These Terms are not transferable by you in any way and may not be assigned to any third party without our prior written consent. No provision of these Terms provides any person or entity not a party to these Terms with any remedy, claim, liability, reimbursement, or cause of action or creates any other third-party beneficiary rights.