This document contains confidential, proprietary information. Transmission or distribution in any way, manner, shape or form is prohibited without the express consent of its authors, Symfonie Capital, LLC (“Symfonie”). Symfonie is solely responsible for the information and content of this document. This document is not a solicitation for the purchase or sale of any financial instrument. Symfonie has taken reasonable care to ensure the information stated is factually true. However, Symfonie makes no representation or warranties that is accurate or complete. Symfonie is registered with the US SEC as an Investment Advisor. © Copyright 2014, Symfonie Capital, LLC. All rights protected. No copies may be made without express written consent and approval.

July 2014

Symfonie Lending Fund, LPPeer to Peer Loans Selected for High Income and Principal Stability

Fund OverviewThe Symfonie Lending Fund is designed for investors who seek high income by investing in an internationally diversified portfolio of consumer and business loans. The loan portfolio may be supplemented with high income corporate bonds, which from time to time offer better risk-adjusted returns and are more liquid than loans.

The fund offers various classes of partnership capital, allowing investors to select an investment profile that matches their return and risk requirements. The 3 Year Class holds loans that mature within 3 years. The 5 Year Class holds loans that mature within 5 years. The Tailored Class enables investors to further specify risk ratings of loans in which they would like to invest. Investors can also opt to have quarterly distributions of income and principal.

While no investment is guaranteed, the rating and maturity structure of peer to peer loans provides some predictability of investment performance. Loans with higher ratings should offer lower overall risk than loans with lower ratings. The maturity structure also provides investors a concrete point in time by which they can expect the return of capital invested. The fund avoids foreign exchange risk by hedging its investments into the investor’s chosen base currency.

Peer to peer loan platforms provide credit scores that offer an estimated loan-loss rate across groups of loans in each ratings category. Symfonie selects loans based in part on the ratings categories assigned by the Peer to Peer lending platforms. Symfonie also uses its proprietary risk models to select loans within each ratings category that Symfonie believes more likely to produce better risk adjusted returns.

Symfonie’s leading investment principal, Michael Sonenshine, has a proven track record of success and more than 15 years of experience analysing and investing in bonds and credit instruments.

Monthly Comment (June 2014) – The fund is invested in 279 loans. During the last eight months 3 loans totaling about 1% of the portfolio have defaulted. However over the last six months we’ve earned about 1% per month, or about 12% per annum. In this context we are performing ahead of our expectations.

Portfolio Statistics

Source: Symfonie Capital. The portfolio presented reflects the overall mix of loans selected across investment strategies. performance may differ from estimated performance. Actual results among investors in the partnership will vary depending on Partnership Class specifications. Grading systems among P2P sites vary and are not directly comparable. For purposes of comparison we have adjusted loan made by Bondor down by two notches, reflecting our view that Bondora’s “A” rated loans should have similar default rates as B and C rated loans issued at Prosper and Lending Club.

Key Portfolio StatisticsNumber of Active Loans 279Average Gross Yield to Maturity 13.9%Expected Net Yield to Maturity 9.2%Average Time to Maturity (years) 3.4Overall Average Rating B-

Site AllocationProsper 37.6%Lending Club 36.7%Funding Circle 19.7%Bondora 6.0%

Loan Grades

B, 37.1%

A, 17.2%

E, 4.5%

D, 6.7%

C, 33.9%

SiteNumber of Loans

Avg. Int. Rate

Avg. Mat. (yrs) A B C 0-3 yrs. 4-5 yrs.

Prosper 95 14.1% 3.4 38.4% 22.1% 12.8% 42.2% 42.1%Lending Club 97 13.7% 3.8 4.1% 56.5% 21.4% 37.1% 62.9%Funding Circle 50 10.5% 2.9 0.0% 26.2% 73.8% 52.4% 47.6%Bondora 37 24.5% 2.6 0.0% 0.0% 98.0% 62.2% 37.8%

Allocation Breakdown Per Site

This document contains confidential, proprietary information. Transmission or distribution in any way, manner, shape or form is prohibited without the express consent of its authors, Symfonie Capital, LLC (“Symfonie”). Symfonie is solely responsible for the information and content of this document. This document is not a solicitation for the purchase or sale of any financial instrument. Symfonie has taken reasonable care to ensure the information stated is factually true. However, Symfonie makes no representation or warranties that is accurate or complete. Symfonie is registered with the US SEC as an Investment Advisor. © Copyright 2014, Symfonie Capital, LLC. All rights protected. No copies may be made without express written consent and approval.

Symfonie Lending Fund, LPPeer to Peer Loans Selected for High Income and Principal Stability

Michael Sonenshine, CFA (CEO, Investment Principal)

2012 - Present – Symfonie Capital, LLC, managing partner2003 - 2012 MT Thaler, primarily responsible for security selection and credit risk analysis.

2000 – 2003 CSFB – High Yield analyst.

1994 - 2000 ING – High Yield analyst, CEO/CIO ING Investment Management, Czech Republic, CEE Equity analyst.

Ranked among the top analysts in Institutional Investor, EuroMoney and Credit Magazine.

MBA, University of Rochester, B.A. Tufts University.

Investment Manager Biography

Site Summaries

Symfonie – Investment Process

Research Driven – quantitative models and direct contact with peer to peer platforms and bond issuers.

Proprietary Screening and Credit Scoring Tools – designed to assess relative value and reward vs. risk

Active Risk Management - based on continual credit assessment and loss tolerance

Fund Structure

Further Information & Contacts

S:ymfonie Capital - London +44 20 8616 7311 Prague: +420 222 191 008 info@symfoniecapital.com www.symfoniecapital.com

LendingClub - US based consumer lending platform operating since 2007. Issuance is about US$3.8 billion and more than 200,000 loans facilitated to date. Loans are graded A (lowest risk) through HR (high risk). Loans are issued with three and five year tenor, principal and interest paid monthly.

Prosper – US based consumer lending platform operating since 2005. Issuance is about US$1.3 billion and 140,000 loans to date. Loans are graded AA (lowest risk) through E (high risk) and have 3 and 5 year tenors.

FundingCircle. – UK based small and medium size enterprise lending platform operating since 2010. About US $500 millon loans funded to date, 57,000 registered investors. Loans are graded A (lowest risk) through C. Borrowers transparently report their income statements and balance sheet and general business information. Many of the loans are guaranteed by company Directors.

Bondora – Estonian based consumer lending platform operating since 2010. Loans are graded A (lowest risk) through C (highest risk). Bondora says its lenders have made average returns of 18% since 2010. Our view is that Bondora’s “A” rated loans are probably equivalent in credit quality to “B” and “C” rated loans at Prosper and Lending Club. Tenors range from 1 month to 5 years. Origination volume to date is about 12,000 loans.

Limited Partnership (Delaware, US file number 5302629, SEC Private Fund 805-817332970)

Fund Accountant – Liccar & Co (www.liccar.com)

General Partner – Symfonie P2P Investments, LLC

Investment Manager – Symfonie Capital, LLC, SEC Number 801-78142, IARD Number 164566

Investors can select from among Partnership Classes of loans maturing in 3 years or 5 years. Investors can also select Tailored Classes designed to meet their specific risk and maturity preferences.