Summary

Chesapeake Capital Corporation's trading methodology is long term trend following utilizing robust trading systems across a broadly diversified set of markets; put simply: Classic Trend Following.

It is a systematic (i.e. rules-based) investment approach that focuses on capital preservation while attempting to provide positive annual returns. Utilizing diversification and robust systems, our goal is to maximize the profit in each trade by following the system entries and exits regardless of market conditions or temptations.

For the years 1994 to 2013, this monthly performance data is for Chesapeake Plus Fund LLC (formerly Chesapeake Preferred II LLC), Series A shares, which has a 4% annual management fee "or" a 20% incentive fee and monthly brokerage commissions which range from 0.05% to 0.38% of the Company's average beginning-of-month Net Assets value, although actual brokerage costs may be above or below such range. For the period 9/1/07 to 12/31/07, the 4% annual management fee is waived. For the period 1/1/08 to 12/31/13, 2% of the 4% management fee is waived. The Company also has a 20-25 basis point annual administration fee (paid by the fund) from 7/1/97 to 1/31/04.

For the time period 1/1/14 to 6/30/14, this monthly performance data is for Chesapeake Plus Fund LLC (formerly Chesapeake Preferred II LLC), Series C shares, which has a 3% annual management fee and a 10% incentive fee and monthly brokerage commissions which range from 0.02% to 0.05% of the Company's average beginning-of-month Net Assets value, although actual brokerage costs may be above or below such range.

For the time period 7/1/14 to present, this monthly performance data is for Chesapeake Plus Fund LLC (formerly Chesapeake Preferred II LLC), Series C shares, which has a 2% annual management fee and a 10% incentive fee and monthly brokerage commissions which range from 0.02% to 0.03% of the Company's average beginning-of-month Net Assets value, although actual brokerage costs may be above or below such range.

Chesapeake did compile this data as a contemporaneous estimate of this account's performance on a monthly basis for the period. The entire performance history includes interest income.

Performance is based on the returns for the Chesapeake Plus Fund LLC A Shares (4% Mgt Fee & 20% Inc Fee) from 1994 to 2013, Chesapeake Plus Fund LLC C Shares (3% Mgt Fee & 10% Inc Fee) from Jan 2014 to Jun 2014, and the Chesapeake Plus Fund LLC Series C Shares (2% Mgt Fee & 10% Inc Fee) from July 2014 to present. Please see accounting notes for details.