Net Asset Value(s)

Third Point Offshore Investors Limited (the "Company") (A closed-ended investment company incorporated in Guernsey with registrationnumber 47181 ) ESTIMATED NET ASSET VALUE OF SHARES The estimated net asset value per share ("NAV") of each of the undermentioned two classes of shares of no par value in the Company, as at the closeof business on 28th February 2015 is: CLASS NAV MTD Performance YTD Performance SEDOL Sterling Shares GBP 16.78 4.6% 2.1% B1YQ6R9 USD Shares USD 17.44 4.6% 2.2% B1YQ721 The MTD performance figures are calculated by reference to theprevious estimated month end NAV or, if published, the previous month endconfirmed NAV. The YTD performance figures are calculated by reference to theNAV at the end of the last calendar year. The NAV figures stated in this announcement are an estimate only,and are based on unaudited estimated valuations supplied by the administratorof Third Point Offshore Fund, Ltd("Master Fund").The actual month end NAV maybe materially different from the estimated monthly value. Accordingly, noreliance should be placed on such estimated NAV and it should only be taken asan indicative guide. This document is for information purposes only and is not an offerto invest. All investments are subject to risk. Past performance is noguarantee of future returns. Prospective investors are advised to seek expertlegal, financial, tax and other professional advice before making anyinvestment decision. The value of investments may fluctuate. Results achievedin the past are no guarantee of future results. Enquiries: Northern Trust International Fund Administration Services (Guernsey) Limited Enquiries:Company website: www.thirdpointpublic.com Andrew MaidenNorthern Trust International Fund Administration Services (Guernsey) LimitedTel: +44 (0)1481 745368Email: [email protected] 3rd March 2015

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