Completion of 31st July 2014 Share Conversion

Third Point Offshore Investors Limited (the "Company") (A closed-ended investment company incorporated in Guernsey with registration number 47161) 26th August 2014 Completion of 31st July 2014 Share Conversion Following the publication on 21st August 2014 final month-end net asset valuesfor 31st July 2014 the following share conversion ratios have been determinedin accordance with the Articles of Association of the Company for the purposesof the 31st July 2014 share conversion date: 1.621922 US Dollar shares for each Sterling share 0.616552 Sterling shares for each US Dollar share On the basis of aggregate applications received and using the conversion ratioslisted above, the following shares will be converted: GBP 31,971 of no par value into 51,854 USD shares USD 2,642 shares of no par value into 1,628 GBP shares The Company's Articles of Association provide that whenever a number of sharesis converted from one currency class to another, a corresponding number ofunlisted B shares shall be converted so as to maintain the set ratio of Bshares to ordinary shares. On this basis, the following B shares will beconverted: GBP 21,314 shares of no par value into 34,569USD shares USD 1,761 shares of no par value into 1,085 GBP shares Following conversion of the relevant shares, the total number of shares inissue in each class will be as follows: * 47,365,087 US Dollar shares; and * 2,054,099 Sterling shares * 31,576,741 US Dollar B shares; and * 1,369,406 Sterling B shares The Share conversion took place on 26th August 2014 Enquiries: Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedAndrew Maiden +44 148-174-5368Email: [email protected]