Net Asset Value(s)

Third Point Offshore Investors Limited (the "Company") (a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 47181) Monthly Final Net Asset Values The final month end net asset value per share ("NAV") of each of the undermentioned classes of shares of no par value in the Company, as at the close ofbusiness on 30th November are: CLASS NAV MTD YTD Performance SEDOL Performance Sterling GBP 17.50 2.4% 8.0% B1YQ6R9 Shares USD Shares USD 18.19 2.3% 7.8% B1YQ721 The MTD performance figures are calculated by reference to the previous finalmonth end 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 based on unaudited valuationssupplied by the administrator of Third Point Offshore Fund, Ltd ("MasterFund"). This document is for information purposes only and is not an offer to invest.All investments are subject to risk. Past performance is no guarantee of futurereturns. Prospective investors are advised to seek expert legal, financial, taxand other professional advice before making any investment decision. The valueof investments may fluctuate. Results achieved in the past are no guarantee offuture results. Enquiries:Company website: www.thirdpointpublic.com Andrew MaidenNorthern Trust International Fund Administration Services (Guernsey) LimitedTel: +44 (0) 1481 745368Email: [email protected]