Lysander Funds Limited is the investment fund manager of Lysander-18 Asset Management Canadian Equity Fund (the “Fund”). This
document is not an invitation to invest in the Fund and does not constitute a public offering of sale. Purchases in the Fund can only be
made through an Investment Professional on the terms in the Fund’s offering document by eligible investors. Each purchaser of units in a
fund may have statutory or contractual right of action. Commissions, trailing commissions, management fees and expenses all may be
associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are historical annual
compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales,
redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual
funds are not guaranteed or insured, their values change frequently and past performance may not be repeated. ¹Source: TSX © Copyright
2021 TSX Inc. All Rights Reserved. ²Distributions are based on the actual number of units outstanding at the relevant time. Distributions are
paid in cash or reinvested in additional units. If the series’ net income/capital gains is less than the amounts distributed in the year,
the distribution will include a return of capital. In these circumstances, if an investor elects to receive their distributions in cash and not
reinvest distributions, it is expected that the value of their investment will decline over time. Distributions are not an indication of
performance, rate of return or yield. ®Lysander Funds is a registered trademark of Lysander Funds Limited.