Third Point December Performance

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) Third Point December Performance 1/2/2015 The following figures are estimated net returns of Third Point Offshore Fund,Ltd. for the month of December and for the year 2014: December YTD 2014 -1.2% +5.8% Performance results are based on the net asset value of fee paying investorsonly and are presented net of management fees, brokerage commissions,administrative expenses, and accrued performance allocation, if any, andinclude the reinvestment of all dividends, interest, and capital gains. Theperformance above represents fund-level returns, and is not an estimate of anyspecific investor's actual performance, which may be materially different fromsuch performance depending on numerous factors. All performance results areestimates and should not be regarded as final until audited financialstatements are issued. Past performance is not necessarily indicative offuture results. All information provided herein is for informational purposesonly and should not be deemed as a recommendation to buy or sell securities.All investments involve risk including the loss of principal. Thistransmission is confidential and may not be redistributed without the expresswritten consent of Third Point LLC and does not constitute an offer to sell orthe solicitation of an offer to purchase any security or investment product.Any such offer or solicitation may only be made by means of delivery of anapproved confidential offering memorandum. Website: www.thirdpointpublic.com Enquiries: Company Secretary - Northern Trust International Fund Administration Services(Guernsey) LimitedTel: +44 (0) 1481 745368Email: [email protected]