PMB_u – Picton Mahoney Tactical Income Fund

Picton Mahoney Tactical Income Fund (the Fund) is a closed-end investment fund. The manager of the Fund is Picton Mahoney Asset Management (the Manager). The Manager is responsible for the day-to-day business of the Fund, including the management of the Fund and the investment portfolio. The investment objectives of the Fund are to provide unitholders with monthly distributions; preserve capital and mitigate risk with less volatility and less correlation to high-yield and equity markets; and maximize total return to unitholders through distributions and capital appreciation. In each case through investment in a diversified portfolio of income producing securities, which will be actively managed by the portfolio manager. The Fund is will primarily consist of long and short positions in high-yield and investment grade bonds and, to a more limited extent, governments bonds, convertible bonds, preferred shares and dividend paying equities, with a focus on North American issuers.