Corporate Update

Third Point Offshore Investors Ltd - Corporate Update

PR Newswire

London, December 27

Third Point Offshore Investors Limited

(A closed-ended investment company incorporated in Guernsey with registration number 47161)

LEI Number: 549300WXTCG65AQ7V644 Renewal Date- 05/10/2019

(The “Company”)

28 DECEMBER 2018

CORPORATE UPDATE

The Board of Third Point Offshore Investors Limited (“TPOIL” or the “Company”) is pleased to announce an update to the Company’s fee structure. TPOIL is a closed?end, London?listed feeder into Third Point Offshore Fund, Ltd. (the “Master Fund”), the flagship hedge fund managed by Daniel S. Loeb’s Third Point LLC (the “Investment Manager”).

As of January 1, 2019, the Company will switch its entire holding into a newly-created share class of the Master Fund. The new share class will be subject to a 25% quarterly redemption gate. The Company will plan to redeem an appropriate amount each quarter to account for planned share buybacks and Company fees and expenses. The new share class will attract a lower management fee and the Company will also qualify for an additional reduction of management fee applicable to it based on its size and longevity as an investor in the Master Fund. As a result, the Company’s management fee will be reduced from 2.0% to 1.25% per annum commencing in 2019. The terms of the performance fee will remain unchanged.

Separately, the Board has made significant progress in the process of identifying the best candidate for the position of Chairman and expects to announce the new Chairman appointment in January 2019.

Claire Whittet, interim Chairman of TPOIL, commented: “The Board is very pleased with the benefits the significant reduction in fees will provide for the Company and its shareholders. We believe this change should help improve the Company’s rating and further align shareholders with the Investment Manager’s strong risk-adjusted track record of investment returns.”

For further information, please visit the Company’s website (www.thirdpointoffshore.com) which was developed and is maintained to provide information and transparency to current and prospective investors.

Enquiries:

Company Website: www.thirdpointoffshore.com

Northern Trust International Fund Administration Services (Guernsey) LimitedThe Company SecretaryTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL

Tel: 01481 745001